Digital growth refers to the expansion and advancement of a company, organization, or individual in the digital realm. It encompasses strategies, initiatives, and processes implemented to enhance online presence, increase digital capabilities, and drive progress across digital channels and platforms.
What Is the Most Common Growth Strategy?
Neil is often asked about the best marketing strategy to invest in.
He believes that there is not just one strategy that is better than all others, but SMS marketing is a low-cost, conversion-friendly, high-ROI option that should be part of any marketing arsenal.
SMS has a 98% open rate and the best engagement rate of any other marketing medium.
People are glued to their phones these days, checking them an average of 344 times a day, so it makes sense to meet them where their attention is already directed.
There are many SMS marketing strategies you can try now, including offering exclusive deals, using drip campaigns, collecting customer information through surveys or polls, running contests, and sending transactional messages (such as shipping updates).
Customers love transparent communication and appreciate receiving confirmation messages or shipping updates via text message.
Building exclusivity by offering special treatment or exclusive offers to those on your SMS list can help increase opt-ins and customer loyalty.
If you need help with your SMS marketing efforts, NP Digital can assist with digital marketing communications for businesses.
Leave a comment below if you have any questions or would like more information on SMS marketing strategies.
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5 Latest Digital Marketing Strategies for 2023
Marketing strategies in 2023 will be different than in the past.
Modern marketing falls into five categories: content, search engine, social media, email, and pay-per-click (PPC).
Short-form vertical video is the most powerful strategy for content marketing on platforms like TikTok, Instagram Reels and YouTube Shorts.
Committing to at least one video a day can help grow your following on these platforms.
Google’s helpful content update focuses on creating complete pages that answer user queries to rank higher in search results.
User-generated content through influencers is a great opportunity for businesses in 2023 with Tick Tock’s Creator Marketplace making it easy to find the right influencers within budget.
Email marketing has a high ROI of 42 times, but requires interactive lead magnets such as timed challenges or quizzes to get more opt-ins.
PPC marketing can become ubiquitous online by using Google’s new campaign type, which allows businesses to be found everywhere online for less than typical ads.
Going deep into a few key areas rather than going shallow and broad can yield better results across all categories of modern marketing strategies.
These strategies are actionable tips that businesses can use right now to take their business from this level to another level of success in 2023.
What is Data-Driven Growth Hacking
Growth marketing is data-driven and based on rapid experimentation.
It focuses on the full customer journey, from engagement to retention and repeat purchases.
Pricing strategies, upselling, cross-selling, and virality are all important considerations in growth marketing.
Marketing and product development are no longer separate entities; they work together to achieve growth.
Customer empathy and behavioral psychology play a crucial role in growth marketing.
Rapid experimentation replaces traditional marketing campaigns with data-based decision-making.
The G.R.O.W.S. process is a scalable way for companies to run experiments faster.
Hiring people with digital and psychological skills is critical to achieving rapid growth within a company.
Ethical considerations must be taken into account when pursuing growth strategies
Speed is key to success through rapid experimentation.
Digital Growth Strategies for MSPs in 2022
The workshop session is about using digital growth strategies and modern digital market techniques to get more customers.
There are two speakers, Rita Butcher Coolis and Peter Histrov of Acronis, who will share their expertise in digital marketing.
Rita is the Digital Media Manager at Acronis with nearly two decades of leadership and marketing management experience, while Peter is a Senior SEO Manager with over seven years of digital marketing experience, primarily in SEO.
The audience consists of marketers by profession, business owners, and those who wear many hats, including marketing responsibilities.
The discussion covers various platforms such as websites, CRM systems, email systems, tactics such as search engine optimization (SEO), paid media advertising on social media platforms, etc., for achieving goals such as growing revenue or establishing thought leadership.
Establishing personas helps tailor content to specific audiences’ interests and concerns that align with the company’s areas of expertise.
Structured keyword research helps create relevant content that informs users about topics related to the chosen main category/subcategory while optimizing it for search engines without spamming keywords throughout the page, but instead focusing on keyword clusters/topics naturally integrated into the content structure.
Closing your content with product/service/solution details gives users a place to convert into leads
Sharing frequency depends on the type of platform (blog section website/YouTube channel/social media) while structuring for SEO involves choosing an approach (informative/trending topic/commonly asked customer question), sticking to one main topic per page/post/article/video/podcast episode/etc. Write as much as possible without worrying about word count limits, but make sure it connects back to your product/service/solution offering.
The ultimate goal is to get ahead by executing well-planned digital strategies tailored to the needs of specific audiences aligned with the company’s areas of expertise through various platforms optimized for search engines without spamming keywords all over pages/posts/articles/videos/podcast episodes/etc.
What is a Digital Transformation Strategy?
The speaker discusses digital transformation strategy and the need for data-driven frameworks.
They caution that this is a detailed topic and not just promotional material.
The speaker presented a case study of Richard Pryor’s furniture business in Arizona.
Rachel, the business owner, faces challenges such as rising retail costs and shrinking e-commerce margins.
He stressed the importance of starting with strategic planning rather than technology when it comes to digital transformation.
They introduce seven principles of digital business strategy, starting with “know yourself.”
Under “know yourself,” they discuss the importance of diagnosing and understanding current problems in order to create a vision for the future.
Under “know your customer,” they emphasize understanding volume, tasks, and intent through tools like Google Trends and Keyword Planner.
The speaker notes that used furniture stores are becoming more popular in Arizona based on search trends.
Overall, the focus is on using data-driven insights to transform businesses in today’s digital economy.
How Do You Explain the Ansoff Matrix (Business Strategy & Growth)?
The video is about Ansoff Matrix, a popular business model used for growth strategies.
The model involves four quadrants: market penetration, product development, market development, and diversification.
Market penetration involves selling existing products in existing markets to increase market share.
Product development involves selling new products to an existing customer base through research and development or insight into customer needs.
Market development involves selling successful products in new markets or distribution channels.
Diversification is the most risky strategy involving selling new products in new markets with unknown dynamics.
Existing products in existing markets pose a low risk, while diversification poses a high risk.
Domino’s Pizza is used as an example throughout the video to explain each quadrant of the matrix conceptually using growth strategies based on their business operations.
The amount of risk taken by a business increases from existing products to new ones and from existing markets to new ones.
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Digital growth involves leveraging technology and digital tools to achieve specific goals, such as expanding customer base, increasing brand awareness, increasing online sales, enhancing user engagement, or optimizing operational efficiency. It encompasses a wide range of activities, including:
Online Marketing: Use digital marketing channels such as search engine optimization (SEO), social media marketing, email marketing, content marketing, and paid advertising to reach and engage with a wider audience.
Website Optimization: Enhancing the design, usability, and performance of websites or online platforms to improve user experience, increase conversions, and drive traffic.
E-commerce: Establish and expand online sales channels, including setting up online stores, optimizing product listings, implementing secure payment gateways, and streamlining the purchase process.
Data Analytics: Collecting and analyzing data from digital platforms to gain insights into customer behavior, preferences, and trends. This data-driven approach helps optimize strategies, personalize experiences, and make informed business decisions.
Mobile Optimization: Ensuring that websites, apps, and digital content are optimized for mobile devices as mobile usage continues to grow rapidly.
User Experience (UX) Design: Focusing on creating intuitive, user-friendly interfaces and seamless interactions across digital platforms to enhance customer satisfaction and engagement.
Innovation and Emerging Technologies: Exploring and adopting new technologies such as artificial intelligence (AI), machine learning (ML), virtual reality (VR), augmented reality (AR), blockchain, and the Internet of Things (IoT) to drive digital transformation and unlock new opportunities.
Collaboration and Partnerships: Collaborating with other businesses, influencers, or digital platforms to expand reach, tap new markets, and leverage shared resources or expertise.
Customer Relationship Management (CRM): Use CRM systems to manage and nurture customer relationships, track interactions, and personalize communication.
Continuous improvement: Adopting an iterative and agile approach to digital growth, regularly evaluating performance, monitoring metrics, and making adjustments to strategies and tactics based on data-driven insights.
Digital growth is essential in today’s increasingly digitalized world. It enables businesses and individuals to adapt to evolving customer expectations, stay competitive, and capitalize on the vast opportunities presented by the digital landscape.