With millennials predominantly contributing to e-commerce retail sales for products and services, businesses are on the right track towards achieving higher leads. However, with the wavering minds of millennials, relying on a single strategy in boosting your business is not going to work. Also, there are also certain telltale signs that scream that you need to revamp your existing strategy to cope with changing market trends.
Prevention is better than cure. If you find a few signs and symptoms of a disease or condition, it is ideal for getting it diagnosed and take medications accordingly. The same thing applies to digital marketing. Even if you see higher sales but dwindling leads, it is a sign that you need to take remedial action before things could affect your business. Here are eight clear signs that help you foresee dwindling sales and remediate a different marketing plan to ensure that you stay ahead of the market.
Poor Engagement levels
It is important to keep the engagement levels in check constantly to ensure that you remain on track with your sales and marketing goals. No one can expect engagement levels to remain on the rise indefinitely as the nature of the market and its supporting trends are constantly fluctuating. Keep an eye on engagement levels and ensure that they remain steady regardless of how your marketing campaign is.
At any instance, you find that the engagement has stagnated; it shows that you aren’t attracting new customers. Regardless of how your brand-loyal customers fare, you need to keep an eye out for the interaction levels as they define your overall progress. If you aren’t attracting new customers, you are in deep trouble.
An ideal way to deal with this situation is to take a step back and analyze the current situation by asking yourself a few questions. Are you targeting the right audience? Are you over targeting a particular segment of your audience? How and when did the engagement levels drop? Poor engagement levels have to be addressed by looking at the social media campaigns and advertising to ensure that you aren’t focussing closely on one group or trying to appeal to everyone else. In this manner, you can understand why the engagement levels have dropped and what remedial measure you need to take to target the right segment of the audience.
Users not clicking on your content
If you find that enough users are not clicking on your content, it means that you aren’t updating your content regularly. Also, you might want to check your content marketing strategy and ensure that the content churned has a singular vision or focus. Keep tabs on your click-through rate using suitable analytics tools. Do a content audit and check whether the topics your business is covering.
Did you know that 78% of internet users conduct research online? The right content helps to guide customers who purchase products and services. Businesses must ensure that the content they churn should assist customers through the purchasing process. The content should not be fragmented as it could result in redundancy. If not, you need to come up with a new content strategy with content designed for each step of the purchasing process. Rework on the content and remain proactive but not reactive to ensure a good deal of planning before coming up with a revamped strategy.
Low returns on paid ads
Rethink your digital marketing plan and use PPC ads to generate more leads quickly. However, running PPC ads involves high risk as they could be highly expensive if done incorrectly, so target the right user.
Bringing the right content and targeting the right audience is the best remedy to overcome this sign. It doesn’t matter if you are running Google, Facebook or Instagram ads; focus on your ideal audience and display relevant content to kick your business back on track and achieve more clicks with better user engagement. This method is sure to help you get a bang for your buck and get the lowest CPC with a maximized ROI.
Is your Website dropping down the search results?
You might want to keep a keen eye on the ranking of your website results, as any drop in the search results would result in less traffic and sales. If your audience does not locate your brand in the search results, your competitor is sure to grab them. You would miss out on a lot of potential customers, and your coffers would eventually become empty.
When it comes to website rankings, most sites may not rank higher in the search results whereas some may. This is due to high competition and investment in SEO optimization to boost rankings in search results. Sticking to a conventional publish and pray method will not work in Google as an effective SEO strategy is the best option.
For a successful marketing strategy, you need to follow a different approach with unlearning and relearning concepts constantly. Optimize your website to remain search-friendly, publish relevant content, and use apt keywords to obtain the right bait. Use the right SEO strategy to drive your website to the top of the search results and keep an eye on the search engine results page.
Dwindling traffic
Little to no traffic on your website is a great concern. You might be thinking that “I got enough sales in the last week, so even if there is less traffic now, it’s all right.” That’s wrong; little to no traffic is a huge warning sign that your marketing efforts have failed as it isn’t driving users to your social media platform or website. With most platforms having a unique algorithm that determines what content is shown to users, you need to keep adapting to new techniques and fix marketing channels properly.
Placing the right bait for the right animal is a must to capture prey. You can achieve this by taking advantage of complex algorithms that are pertinent to the marketing channels and drive traffic through the appropriate platforms properly.
Poor conversions
Generating traffic is only one side of the coin for running a successful marketing campaign. You find yourself attracting thousands of website visitors every week but are worried to see them not getting converted into paying clients or customers. You might want to rethink your strategy as you would not see the ROI you deserve. Make sure that your marketing strategy is aimed at conversions and not just website visits. If you are taking help from a digital marketing agency, make sure to convey your marketing goals and explain the nature of the business to them. This would help them better understand your business and help you reach your goals.
Staying ahead of the competition is essential to ensure that your business ensures better conversion rates. Use Google tools to track conversions on your website and determine the ROI on each of your campaigns.
Are you collecting enough email addresses?
Building and establishing a successful email strategy is essential. Ask yourself, “Are you building an email list on a regular basis?” If not, it means that your email signups are lying low for several months, and this is a clear indication that your strategy needs a makeover. You could miss out on important leads if you do not collect emails as they are as important as engagements.
Start off by implementing dedicated landing pages and include a pop-up that prompts them to sign up for more blogs. Don’t forget to include a catchy line and inform them that more informative content is on its way. Another sure shot way to get emails is by creating more downloadable content to give away in exchange for an email address. Also, ensure that the website design makes the sign-in form clearly visible.
Do you have a cohesive marketing strategy?
Placing all your bets on a single horse would be an utter disaster. It isn’t ideal for you to rely on one marketing channel as you could lose out on new leads and customers. Also, a disjointed marketing strategy would mean that each campaign fits into the bigger picture, and there are bound to be gaps in your marketing plan. If you happen to depend on a one-pointed strategy, it’s a sign that you need to rethink your strategy.
Most renowned businesses are prone to lose potential customers due to a drop in prospects during sales cycles. This is a clear indication that the business is communicating with an incohesive brand strategy. Building a cohesive multi-channel marketing strategy is ideal for reaching potential customers across multiple touchpoints. Multiple channels mean more opportunities to connect with and attract customers.
Conclusion
A single well-structured marketing strategy is never an answer to all questions when it comes to digital marketing. Just because your boat is sailing quite well with a small hole in the hull, it doesn’t mean that you are going to reach the destination that is over 2000 miles away. Businesses have to adapt and evolve with different market scenarios and take preventive measures to ensure that they remain on track. If you are finding it challenging to find these eight signs, you can reach us at Vajra Global for support.