Once you have created an online store, you are ready to embark on Digital Marketing to get more customers through the Internet. Digital marketing has become a must for wholesale trade businesses as more and more business-to-business customers buy online. A recent survey by Google has shown that those who allocate more than half their marketing budgets to digital initiatives improved performance in three key business outcomes — revenue, sales volume, and market share — by 10 per cent or more. With results like that, it may seem that companies should be diving headfirst into Digital Marketing. But challenges are holding many back.
Challenge 01
Business owners may not understand the relationship between digital marketing performance numbers and business outcomes. Better organization, increased efforts to achieve specific business objectives and more transparent communication of results to stakeholders could mitigate this.
Challenge 02
Planning is the heart of marketing. Selecting the right business goal for that marketing initiative and identifying the right target audience are critical determinants for achieving digital marketing success. Other questions that need to be answered include:
- Would the concepts resonate with the target audience?
- Have we selected the proper channels to convey the messages?
- Are we able to predict the financial outcome of marketing campaigns?
Challenge 03
A key performance indicator (KPI) for Digital Marketing initiatives would be conversions. But keeping track of which channels sales leads were obtained from could be a challenge. Given the wide range of channels used to reach customers, it may not be easy to identify which touchpoints led to success. Without this information, marketers stumble over deciding which variables to change during a marketing campaign and have difficulty experimenting with different advertising strategies.
The Solution
The use of Customer Relationship Management would help. Such a platform can provide a consolidated picture of customers across channels and would facilitate analysis. It would also serve as a vehicle for creating an easy-to-understand graphical representation of results for business owners.
When it comes to Digital Marketing, business owners want to know how the various initiatives help achieve business objectives. With keen competition in the wholesale trade industry, those who succeed in mastering Digital Marketing and using the right tools will gain better business outcomes.
Want to discuss digital marketing? Need assistance with choosing suitable courses? Contact me at dorothy@zooloo.asia.
Want to know more?
- Learn more from our course on Customer Relationship Management
- Learn more from our course on Social Media Marketing
- Learn more from our course on ECommerce
