Having a small business means seizing every possible resource and seeking alternatives. If you want to stay ahead of the competition and you want to go a step further, check these marketing trends that are already making a big impact on big brands.
Measuring ROI –the right way
Testing the impact of an advertising campaign goes way beyond measuring sales. Focusing on the sales indicator might not be enough to make sure the return on investment (ROI) is real and sustainable. Here are three things a small business should keep an eye on when it comes to ROI measurement:
- The real challenge in 2018 is knowing how to measure the impact social media content has on your customers. There are some qualitative indicators behind your interactions with your clients. Your effort should be focused on creating alternative indicators (might not be numbered) that show a more comprehensive overview of your business.
- Focus on closed platforms such as Facebook Analytics and Google insights, they provide essential data, easy to read, and most importantly free. Also, you can measure the impact your business has on mobile.
- ROI can be measured in a longitudinal way. Earning your customer’s trust takes time and sales might not be showing the real impact your business has on your customer’s life.
Start thinking of Artificial Intelligence
In 2018 more applications will start using Artificial Intelligence (AI) over algorithms. Big brands like Google are focusing on language processing, computer vision, and chatbots. While you can still use algorithms and big data, it won’t hurt to do a bit of research on how Artificial Intelligence can benefit your business.
AI-driven marketing will enable business owners to create, select, and acquire data feed solutions, allowing you to automate certain tasks and compile information in a smarter way. Just be careful not to fall for fake promises from companies that take advantage of a product that still has its obvious flaws.
Hire a programmer/ Make an app / Join an existing digital platform
Even if you’re on the traditional side of the business, there’s a chance you can revolutionize some part of your sales process. You don’t need to be a tech genius, you just need to know what your goal is and find a programmer that translates your ideas into a functional app. Engaging with consumers is easier when you build the right bridge. Consumers nowadays can order their meals, pay bills and apply for transportation through their cell phones, as a small business owner you need to find how to add real value to people’s lives.
Note: There are multiple digital platforms nowadays that can automatize certain processes, like UberEats, or Shopify. Explore your options and head into the future.
It is true that navigating the new world of technology might sound like a real challenge, but it is also an opportunity for your business. Daring to try new formats might be the answer you need to add value to the lives of your consumers.
And if you’re having trouble while measuring the return of your investments and would use some guidance, feel free to ask. At Idea180 we offer comprehensive web services from web design to lead generation to bring the best out of your business.
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