Business Analysis & Consulting
Business analysis is all about identifying business needs and determining solutions to business problems. Solutions might be in the form of software development component or may also consist of process improvement, organizational change or strategic planning and policy development.
Digital marketing is always changing and your business digital marketing strategies need to go hand-in-hand with the change in order to effectively engage customers. In order to gain a sustainable competitive edge in an increasingly challenging/demanding environment, we help you in analyzing your business to help you make better decisions and deliver business performance and improvement. More than just collecting and routinely processing large amounts of business data, we help you in applying sophisticated quantitative techniques to help with decisions, particularly at the strategic levels. Exact analysis of your business needs and effective consultancy is a key to competitiveness.
This is Where We Come into Picture and Help You with the Following:
- Perform detailed analysis of your business
- Develop an excellent business plan and pitch deck to help you gain investor support
- Provide ongoing consulting to optimize your business and align it with the best marketing trends to make it successful
Our Effective Business Analysis & Consulting Involves
Researching Your Target Audience
The first and most important step is to find out exactly who your customers are and then after thorough scrutiny, to structure your digital presence to address their needs is the linchpin of successful online marketing. Targeting a specific market does not mean that you have to exclude people that do not fit your criteria from buying from you. Rather, target marketing allows you to focus your marketing dollars and brand message on a specific market that is more likely to buy from you than other markets. With the current state of the economy, having a well-defined target market is paramount of all. No one can afford to target everyone. Small businesses can effectively compete with large companies by targeting a niche market. Your business will save money and get a better ROI by defining your target audience. Below are the few points that will help you to 'Define Your Target Market':
- Contemplate your current customer base
- Check out your competition
- Analyze your Product/Service
- Choose specific demographics to target
- Figure out your niche audience i.e. not only who has a need for your product or service, but also who is most likely to buy it. Think about the factors like - Age, Location, Gender, Income level, Education level, Marital or family status, Occupation, Ethnic background to name a few.
- Consider the Psychographics of your target like Personality, Attitudes, Values, Interests/hobbies, Lifestyles, and Behavior etc.
- Evaluate Your Decision. Once you've decided on a target market, be sure to consider these questions:
- Are there enough people that fit my criteria?
- Is there demand for my product/service?
- Will my target really benefit from my product/service? Will they see a need for it?
- Do I understand what drives my target to make decisions?
- Can they afford my product/service?
- Can I reach them with my message? Are they easily accessible?
- Use additional resources available on internet. For instance,
Pew Internet (http://pewinternet.org/index.aspx) publishes reports regarding internet use among various demographics.
Scarborough (http://scarborough.com/press.php) issues press releases with useful data and sometimes publishes free studies.
Also look for free studies by Arbitron (http://arbitron.com/home/studies_custom.htm). You may be amazed by what you can find just by performing a Google search.
The above will help you to lay out a comprehensive plan that includes campaign strategy, content strategy, website architecture, social media integration, and email campaign outreach. An extensive audience analysis takes time and effort, but once you start to implement the findings in your digital strategy, it will prove instrumental in your growth.
Determining Potential Sources for Digital Expansion
Assessing your current online presence and the digital marketing trends specific to your industry is the first step towards creating a more effective digital marketing campaign. Your digital presence is everything you do online. It’s the fingerprint of all the online activities around your brand. It’s could be your website, Facebook page, Twitter feed, blogs (by you or others about your product). It’s everything that says something about you digitally. Digital marketing is changing. You can’t just broadcast your message. You can’t just scream louder than your competitor. You have to be smart about it. You have to tell a story that can reach your customer wherever they are, on whatever device. With a consistent story that connects emotionally to your audience, you’ll be able to rise above the digital marketing noise and really get their attention because you’ll have an awesome digital presence. Creating new innovative campaigns will set you apart from your competitors. You need to be original and also aware of digital marketing tactics that have been successful in the past.
Steps to increase your digital presence:
- Find your voice
Assess what you stand for as a brand. Focus on the issues you cover and the solutions that you provide. After defining your target audience, think about what type of message will appeal to them. It is very important to be speaking the same language as your customers.
- Claim your digital turf
You do not need to be socially active on all the different social platforms but instead pick the right ones (like Facebook, LinkedIn, Google+, Pinterest, YouTube, Instagram etc.) Claim your URL on these before someone else does.
- Devise a digital strategy
As now you have a digital presence, choose the social sites that might generate you the most bang for the buck.Remember the following:
- Cross-share, cross-post and automate when it makes sense. Post on the social sites as often as possible but make sure that no two platforms should have the same content structure. Try to be innovative in case you need to post the same content on different platforms. People want to see unique content on every platform.
- For most businesses, social media sites are designed to create relationships and bring people to your main website. Majority of the conversions (or sales) should take place on your site.
- Social Activity counts for over 60% of your ranking. Pay attention to your SEO.
- Listen & respond
Social Media is all about interaction and to engage your audience in conversation, recognize their voice and respond to them. If you do not participate in the conversation, your audience will gladly move to a competitor who does. One bad comment from a person in your audience might affect your brand. So beware of your surroundings.
- Understand your marketing ROI
There are many analytical tools (free and paid) available to give you feedback from your social media campaigns. Unless necessary, stick with what works without the expensive ticket price: Google Analytics, Facebook Insights, Hootsuite, & SocialMention etc.
Diligence and Perseverance is the Magic Mantra
Remember that there is no magic pill to get immediate business results. It takes months before your business will see noticeable improvement. Here, diligence and perseverance is the magic mantra. Use business analysis tools (like SWOT, PEST, STEEP, STEEPLE, Porter’s 5 Forces, The 5 C’s of Marketing etc.) to determine the appropriate online marketing channels to focus your marketing budget and cut costs by eliminating ineffective tactics.
Be Innovative and Track Growth
Customer engagement is no longer a series of one-off experiences - it's an ongoing dialogue. Companies need to be good listeners in the digital age, and that requires a new set of skills. It means listening to customers who are already having conversations about brands - yours and others - over the social Web. Foster trust and form relationships through open, honest interactions over time. Positive outcomes include answering questions, solving problems, hearing ideas and supporting them (when possible), and also amplifying praise.