Why Businesses Must Embrace Digital Marketing

Overview

As businesses large and small continue to migrate to a remote work environment, the ability to connect and engage with their customers becomes even more critical. This blog will explain why digital marketing is the perfect vehicle to use to increase the power and reach of your business marketing.

Please note that this blog does not address digital marketing strategies and tactics, as there are many other blogs on those topics.

What is Digital Marketing?

Digital marketing is a term that has been used more frequently over the last few years. But what does it really mean?

If you perform an online search for the term, you’ll likely find numerous articles, definitions and blogs on the topic, often with conflicting points of view. However, in reality, the definition of digital marketing is actually very simple.

“Digital marketing is leveraging the power of the Internet for your marketing efforts, so that you can provide information to and engage with your customers. In other words, digital marketing is any form of marketing that you’re doing online.”

That’s it.

Now of course, how you go about doing your online marketing and using the Internet to connect with your customers is where it gets much more interesting.

Why Digital Marketing and Why Now?

Due to the global pandemic, the world has changed. Along with that change, how businesses connect and engage with their customers has changed. As a result, regardless of the size of your business, how you interact with your customers on a daily basis has likely changed as well. This is where the power of digital marketing can make a significant difference for your business.

Why?

Because digital marketing allows your business to reach your customers in ways that traditional marketing does not. It provides your business with additional channels through which to drive awareness, provide information about your products and services, and interact with your customers.

Advantages of Digital Marketing

Digital marketing provides your business with many advantages over traditional marketing:

• It provides your business with new ways to engage with your customers that are not dependent on your physical presence or availability
• It allows your business to interact and engage with your customers on a real-time basis, regardless of geographic location
• It allows your business to have a 24/7/365 online presence that works for you even when your office is closed
• It allows your customers to find information about your products and services at a time and place of their choosing
• It puts your customers in control of how, where and when they interact with your business
• It lets your customers choose the type and format of content they consume

What is important to remember is that digital marketing does not replace your traditional marketing efforts, it actually supplements them. Working in tandem with your traditional marketing, digital marketing actually expands the channels your business uses to engage and interact with your customers.

This expansion of marketing channels not only gives your customers more control than they have ever had in the past over the type of content they choose to consume, but also puts them in full control of how, when and where they consume it. This is no longer outbound marketing (aka “push marketing”) where the business controls the engagement with customers. Instead, this is now inbound marketing, where the customer has full control.

In other words, digital marketing expands your reach, increases your presence, and provides your customers with the ultimate in flexibility.

Additional Benefits of Digital Marketing

In addition to the obvious advantages that digital marketing provides for your business, there are also several intangible benefits:

• Depending on the type of digital marketing you use, there may be very low, or even no, barriers to entry
• Digital marketing is often much more cost effective than traditional marketing
• Digital marketing often scales quicker and easier than traditional marketing
• Digital marketing allows you to try new and different strategies and approaches on a more limited budget than with traditional marketing
• Digital marketing has a variety of tools that make it easier to track and immediately measure the impact and ROI of your marketing

As you can see, digital marketing provides your business with greater flexibility in how, when and where you’re able to connect and interact with your customers. It also provides your business with more tools to accurately track, measure, analyze and report on the results of your marketing.

Summary

In summary, there are really only four primary reasons your business needs to understand to embrace digital marketing:

1. Availability – Always on, always there. While your business hours may be M-F 8-5, your digital presence is available to your customers 24/7/365
2. Flexibility – Your customers can engage with your business when and where they want to, on their schedule, not yours and in the format they prefer
3. Portability – Your customers can connect with your business from a desktop, laptop, tablet or phone
4. Accountability – Your business can quickly and easily track how effective your marketing efforts are

So with all these advantages and benefits, why wouldn’t your business want to embrace digital marketing?

 

 

© 2020 – Richard Hatheway / Catalyst Strategic Marketing

What Is Digital Transformation?

OVERVIEW

           

The term “digital transformation” is used all the time today, but what does it really mean?

This blog will provide you with a clear, concise definition of what digital transformation really is, so that the next time you need to explain it, you can.

WHAT IS DIGITAL TRANSFORMATION?

Digital transformation. That’s a term that is both heard and used a lot today. Consultants use it. Executives use it. Marketing, sales and many other departments within a business all use it.

But what does it really mean?

Depending on whom you ask, the term digital transformation will mean different things to different people. And if you ask 10 different people to give you a definition, you’ll likely receive 10 different answers.

And therein lies the problem…

There’s not an industry standard definition for the term, so anyone can define it to mean anything they want it to.

Hmmm…

Let’s take a step back and do some simple etymological analysis of the phrase “digital transformation” to see if that will help provide clarification.

ETYMOLOGY

The term “digital transformation” is comprised of two words, “digital” and “transformation”. It’s worth noting that this phrase has only been around since the 1960s, when computers first began making inroads into the business arena.

The word “digital” has many definitions¹, from “resembling, having to do with or being manipulated by fingers: (i.e., digits), to “being a device that can generate, record, process, receive, transmit or display information that is represented in a discrete numerical form” (i.e., digital). However, the definition that relates most closely to the topic we’re discussing is:

“Expressed in discrete numerical form, especially for use by a computer or other electronic device”

By comparison, the term “transformation” has a much more straightforward definition²:

“The act or process of transforming; the state of being transformed; change in form, appearance, nature, or character”

Putting the two words back together, when you look up the term “digital transformation”, you find the following definition³:

            “The application of digital technologies to everyday life”

Okay, that makes sense. This definition may actually be the most clear, straightforward definition that can be found.

Unfortunately, in business, things are never quite as simple as they appear to be, or should be anyway. That last definition leads us down another path, as we then need to define more specifically what “digital technologies” are.

Looking up that term, we find the following definition⁴:

“An umbrella term for computer-based products and solutions”

However, given that nearly everything today is designed, developed, manufactured by or uses computers in some way, that’s a really vague definition.

A somewhat more specific definition⁵ of the term “digital technologies” is found if we search a bit further:

“The branch of scientific or engineering knowledge that deals with the creation and practical use of digital or computerized devices, methods, systems, etc.; a digital device, method, system, etc., created by using this knowledge: the application of this knowledge for practical ends, as in digital communications and social media.”

That provides a bit more specificity, so you can now extrapolate a more focused definition for the term “digital transformation”:

“The practical use of digital technology to transform the methods and systems (i.e., processes) used in our business”

That definition can then be further refined as:

"The practical application of digital technology to replace or integrate with existing business processes and procedures in order to transform, optimize and make them more effective and efficient"

Or in somewhat more concise terms:

"The process of using technology to improve business operations"

Note that in this definition, business operations includes any and all aspects of the business; it is not limited to a specific area. This is important to clarify because digital transformation has the power to positively impact all areas of business.

From sales to marketing, customer service to customer billing and all other areas of the business, digital transformation has the power to increase efficiencies, streamline processes, and improve business operations so that they work more effectively.

SUMMARY

So there it is. A definition that is: Short. Simple. Clear. Concise.

Digital transformation is simply the process of using technology to improve business operations.

© 2020 – Richard Hatheway, Catalyst Strategic Marketing

All Rights Reserved

1 - https://www.thefreedictionary.com/digital

2 - https://www.dictionary.com/browse/transformation

3 - https://encyclopedia2.thefreedictionary.com/digital+transformation

4 - https://encyclopedia2.thefreedictionary.com/digital+technologies

5 - https://www.dictionary.com/browse/digital-technology

Sales Enablement & Content Marketing - Use Them Together to Move Customers Through the Sales Funnel

OVERVIEW

Sales enablement and content marketing are both critical components of any effective marketing strategy. But they’re often viewed as completely separate functions that are done independently of one another. The reality though, is that for them to be most effective, they need to work together.

This blog will provide an overview of both to help you understand the value of using them together in your business.

WHAT IS CONTENT MARKETING

The Content Marketing Institute defines content marketing as,

“Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action.”

Okay, but what does that really mean?

CMI expands their definition by adding,

“Instead of pitching your products or services, you are providing truly relevantand useful content to your prospects and customers to help them solve their issues.”

So to summarize, what that means is that content marketing is about providing the customer with useful, relevant information that explains how and why the product or service actually solves a problem. Instead of focusing on the technology used in the product, or the features that are included, content marketing focuses on the solution the product provides to the customer. Content marketing may also include information on what benefits the customer will gain by using the product or service.

Customers look at your product or service because it can provide them with a solution to a problem or issue they need to solve. They aren’t interested in why or how a product works; they’re only interested that it works.

In other words, the primary focus of content marketing is NOT about the product or service and IS about the customer and their needs.

WHAT IS SALES ENABLEMENT

HubSpot defines sales enablement as,

“Sales enablement is the iterative process of providing your business’s

sales team with the resources they need to close more deals. These

resources may include content, tools, knowledge, and information to

effectively sell your product or service to customers.”

Okay, that’s pretty straightforward, but to expand on that definition just a bit more, Seismic adds this,

“Sales enablement is the strategic process of providing salespeople with the tools they need to consistently have valuable conversations with customers at each stage of the customer’s problem-solving life cycle. Sales enablement includes the information, content, tools and processes salespeople need to succeed at all stages of the sale.”

So basically, sales enablement is the process of providing the sales teams (I say teams, because sales enablement really should include both inside and outside sales functions as they are both customer-facing) with all of the training, tools, product information, and customer-facing collateral and materials that they will use as they engage with customers at all stages of the sales funnel. This provides sales with the information they need to be able to answer customer’s questions (i.e., sell effectively) and help move the customer down the sales funnel.

In other words, the primary focus of sales enablement is still about providing the customer with the required information about a product or service. In the case of sales enablement, the information just comes to the customer through the sales team instead of the customer accessing the information directly.

One other consideration needs to be noted as well. If your business sells through channel partners, sales rep firms, or other third-party channels, sales enablement needs to include these organizations as they too are part of your sales organization.

COMMON FOCUS

Content marketing and sales enablement also have a lot in common.

• Both content marketing materials and sales enablement materials are created (or at least should be reviewed) jointly by the sales and marketing organizations
• Both are focused on providing relevant, useful information to their audiences
• Both provide information about the product or service
• Both are used to help educate customers
• Both are used as part of the sales process
• Both are designed to help optimize the customer’s sales experience
• Both are designed to help move customers down the sales funnel
• Both are designed to lead to closed sales

As you can see, both content marketing and sales enablement are actually very complementary to and supportive of each other. This is why when they are used together they provide a strong platform for sales success.

MISCONCEPTIONS STILL ABOUND

Although sales enablement and content marketing are obviously more effective when used together, there are still misconceptions that abound.

The two biggest misconceptions are:

1.    Content marketing is considered to be more top-of-funnel focused, as it provides general information to potential customers when they’re doing initial product research

2.    Sales enablement is considered to be more mid- and bottom-of-funnel focused, as it provides sales team with more detailed information they can use to engage and interact with customers who have made the decision to move forward and are already further down the purchase path

Nothing could be further from the truth.

While in the past there may have been some validity to those beliefs, it is no longer true. Today, sales enablement and content marketing are used together up and down the sales funnel. Although how, when and where exactly they are used may vary from product to product and industry to industry.

The reality is that sales enablement and content marketing are both part of the customer engagement process and both have responsibility for driving customers down the sales funnel. And just like the sales and marketing organizations, both are equally critical to the success of the business.

Sales enablement includes not only the product training, tools and processes that sales teams use, but also leverages and uses the material and information that content marketing develops for customers. As such, to be most effective, sales enablement and content marketing should be used together.

SUMMARY

While the focus of sales enablement and content marketing may initially seem to be somewhat different, in reality it isn’t. The actual goal of both is to provide the information the customer needs. Whether the information is delivered directly to the customer (i.e., content marketing) or indirectly through the sales teams (i.e., sales enablement), the end result is the same – to provide the customer with all of the information needed at all stages of the sales funnel to move them down the funnel towards a purchase decision.

© 2020 – Richard Hatheway, Catalyst Strategic Marketing

All Rights Reserved