In our time in business, we’ve found one of the biggest complaints of business owners is not having the time and/or knowledge to keep up with digital marketing technology available. The reason is obvious. Every day, it seems, something new and great becomes available to help businesses automate and market on the web.
The question is, for your digital marketing, what technology should you choose, and what should you ignore?
In the book Good to Great: Why Some Companies Make the Leap and Others Don’t, by Jim Collins (published in 2001), Collins pretty much nailed what every business should be looking at. And it’s not what all the marketers keep telling you.
Technology truly will accelerate your business when used right. However, unless you are a technology company, technology will not be the creator of your business.
With only a few exceptions, great businesses did not become great by being the leaders or possessors of all the latest technology.
How to Choose the Technology Right for Your Business
There’s no doubt that every day someone tells you about something new you must be doing using technology. The list is long, but for business it includes:
- Use Twitter
- Use Facebook
- Make Videos
- Post to Instagram
- Do SEO (search engine optimization)
- Publish online content
- Use Facebook ads
- Use Google ads or Adwords
- Do email marketing
- Do text message marketing
- Hold online training
- Do web conferencing
- Use artificial intelligence
- etc., etc., etc.
These are the ones you already have heard of. I know you find or get told about others nearly every day. The main idea is to not be motivated by a fear of being left behind. You must evaluate the digital marketing technology potential for your business.
Next you’ll see how you can know what is right for you and your business.
How to Know What Digital Marketing Technology is Right for Your Business
In every business owner’s or CEO’s decision to find the right digital marketing technology, the focus must be on three things, according to Collins:
- What you can be best in you market at. This is not about your goal to be the best or a strategy/intention/plan to be the best. It is knowing what you can be best at in your market.
- What drives your economic engine. This principle centers around the equation Profit/X. It can be many things like profit per location, profit per customer, profit per visit. You must know exactly what this is.
- What you are passionate about. You do play in the equation. The best companies actually have taken 4 years or more to really nail all three of the principles for their business.
Collins calls them the Hedgehog Concept. Call them what you want but understand using this concept will keep your business focused. You’ll make the right decisions not only about digital marketing technology, but about everything else you choose for your business.
To make these concepts work, you must not be motivated by the fear of being left behind. Getting a particular marketing technology based on fear a competitor will beat you using it is wrong. If the technology doesn’t support your hedgehog concept, it isn’t right for you.
At the same time, be sure you evaluate a digital marketing technology decision openly. Don’t count anything out solely on price or without reviewing with others. Preferably you have a group, mastermind, adviser(s), or council of some kind with people smarter than you to help clearly evaluate possibilities.
Common Factors Affecting Digital Marketing for Most Businesses
At ThinkBigandGrow Media, we’ve been providing digital marketing consulting since 2009. In that time, no business owner could point to a single digital marketing technology which independently launched them to the top of their market. It’s why, in 2011, we switched from being an SEO provider to a digital marketing strategy company.
As online marketing for local and global small and medium business evolves rapidly, vesting all your online marketing efforts in any single online marketing technology most likely will leave you in the “left behind” line eventually. Here are some common mistakes leading to being left behind in digital marketing:
- No cohesive marketing strategy covering all aspects of your marketing
- No clear value statement for your brand
- No control over building and marketing your online reputation
- Lack of priming trust in your online presence
- Lack of follow up with all web visitors
- Lack of follow up and engagement with existing buyers
Some may add others to this list. However, our experience has shown that regardless of what makes up your hedgehog concept, the 6 common factors above are key to making your digital marketing bring you customers.
2 Solutions to Accelerate Getting Customers from Digital Marketing Technology
Our solutions seek market dominance using digital marketing focuses:
- What gets you customers
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- Flexibility and adaptability without dependencies on a single digital marketing technology of the moment
- Ease of implementation without overwhelming a business owner or CEO, or forcing them to hire new tech staff to make a strategy or tactic work
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