StartupNation

StartupNation Growth Hacks #1: Create a Newsletter to Engage Customers, Drive Sales
The 5 Stages Of Small Business Growth
5 Reasons Your Digital Ads Aren’t Performing

StartupNation Growth Hacks #1: Create a Newsletter to Engage Customers, Drive Sales

Posted: 15 Feb 2022 09:00 PM PST

The first in a series.

Welcome to StartupNation Growth Hacks!

With more than 24 years of experience covering startups and small businesses, we’ve built up a knowledge base of what it takes to succeed as an entrepreneur and we’re eager to share what we’ve learned. We’ve identified easy-to-implement, game-changing tactics to advance your business objectives.

Why newsletters are important

You'll create a direct connection to your customers and will be able to source firsthand customer data in an era of tightening privacy concerns.
You’ll be able to message and engage your most loyal customer base by alerting them to new inventory, key events, sales, and promotions and deals. All of these engagement opportunities lead to revenue opportunities
You’ll be able to unlock a powerful opportunity to use storytelling, thought leadership and brand attributes to build on your relationship with your customers, leading to a more loyal customer base.

Let’s get to work!

newsletter

Here’s how to put this week’s growth hack into action now.

1. The value of any newsletter is only as good as the quality of your email list. To grow a high value list, first and foremost make it easy for readers to sign up on your website. Make sure the sign-up opportunity is in plain sight and not hidden deep on the site. And while there is always a temptation to get as much information from customers as possible during the sign-up process, don't ask for much other than first name and email address. You don't want to create any barriers to acquiring sign-ups. You can ask your customers for more info later once trust is built and value is evident.

2. Make sure the value of signing up is clear and compelling in your messaging. Examples of such critical messaging include: a description of the content customers should expect to receive and why it will be of value to them; any promises you want to make to them in a personalized "from-the-heart" message format and style, and/or even an enticement to sign up in the form of an initial promotion.

3. Once you have a list, you need to develop content that delivers on your promise. To achieve this, stay true to your brand attributes and to your voice. In other words, be authentic, personal, and don't hesitate to stand for something. Today’s customers are hungry to do business with companies that have a greater purpose, so if your company has one, share it. And according to the 2022 U.S. Consumer Trends Report, a recent study by Attest, 57% of consumers want marketing message to amuse and entertain them, so if you have a sense of humor, use it! Most of all, make sure the content has value – whether informational or promotional. You want your readers to find real value and to go away wanting more.

4. Establish a content and distribution calendar to help you stay on track and maintain regular distribution of your newsletter as a discipline. If you deliver on your promise to engage your customers in such a way that makes them eager to receive your newsletter, they will be expecting it regularly, which is exactly what you want, and you must therefore maintain that regular schedule of delivery to continue to meet their expectations. The Attest study also cites the delivery cadence most desired indicating that in general, 17% prefer daily delivery, 26% weekly and 11% monthly. The key is to match your frequency with your ability to deliver consistently high-quality content.

5. To create and distribute your newsletter, use an email distribution service. There are many good options, but examples of some of the best include Mailchimp and Constant Contact. Using these platforms helps you manage and execute the entire process and ensure deliverability.

Bonus hack #1:

Use your email to get that supremely valuable firsthand customer data and source more information in the process. Use survey questions about relevant products — for example, ask for location data, additional contact information, and more — to begin to build profiles on customers. Ultimately, you can segment your list based on your data and then offer more relevant, even personalized, messages and promotions targeting areas of specific interest customer by customer.

Bonus hack #2:

Be sure you make it easy for your readers to share your newsletters with others via social channels and email. Remember, a call to action is key!

Put this hack to work for you now. There is no time like the beginning of the new year to add new ways of growing your business, and a newsletter is simply one of the best.

The post StartupNation Growth Hacks #1: Create a Newsletter to Engage Customers, Drive Sales appeared first on StartupNation.

The 5 Stages Of Small Business Growth

Posted: 15 Feb 2022 09:00 PM PST

Small businesses vary widely from brand to brand. Starting an online lead generation agency is wildly different than opening a brick-and-mortar hair salon. However, all small businesses follow the same five stages of growth.

Knowing these stages can help you anticipate challenges and plan for success no matter what vertical your business specializes in.

Stage 1: Existence

The first step in starting a business is bringing your idea into existence. In this phase, the owner is often the sole proprietor or has a few employees. Systems and planning are minimal or don't exist at all.

Main challenges: Obtaining customers, delivering the product and keeping adequate cash flow.

Takeaway: In planning for the challenges of stage one, make plans for who your customers are, how your product will help them, how your product will be delivered and how you will get initial capital to start the business.

Stage 2: Survival

In the survival stage, the business proves viable. A workable product is drawing in enough customers to allow the business to survive. Systems and operations remain small and simple.

Main challenge: Revenue vs. expenses – can the business do more than break even?

Takeaway: In planning for the challenges of stage two, continue to focus on revenue. See where you can cut operating costs, improve profit margins and plan for scalability.

Stage 3: Success

At this stage, the business grows to a level that can support itself indefinitely. Profit margins are average or above average. The owner can now decide between two options: 1. Scaling the business for larger growth and success or 2. Stepping back to reclaim time and allow the business to function independently.

Main challenges: Creating systems and processes that allow the business owner to step back or scaling to bigger and bigger proportions.

Takeaway: In planning for stage three, have an idea of your larger goals for the business. This is the stage where major pivotal decisions can be made.

Stage 4: Takeoff

If you choose to grow your small business rather than take a step back in Stage 3, it can grow into the takeoff stage. This stage involves rapid growth and expansion which, if successful, will take your business from small to big.

Main challenges: Rapid growth requires more complicated business structures. Delegating, managing large teams, maintaining vision and cash are common challenges.

Takeaway: If you plan to grow your business from small to large, it may be helpful to find a business partner with skillsets for large companies if you do not have them already yourself.

Stage 5: Resource maturity

If a business succeeds past the takeoff phase, it becomes mature. In this phase, leadership is spread across several stakeholders, processes and planning are excellent and the business holds a sizable market share.

Main challenges: A larger size can make pivoting to shifting market demands slower and more difficult.

Takeaway: As a mature business, stay on top of market trends and be willing to make needed changes. Be a lifelong learner.

Marketing your small business

As you grow your small business, marketing is essential. Check out this helpful infographic, courtesy of Quicken Loans, to learn more tips for growing as a small business.

The post The 5 Stages Of Small Business Growth appeared first on StartupNation.

5 Reasons Your Digital Ads Aren’t Performing

Posted: 15 Feb 2022 09:00 PM PST

So, you're having a hard time figuring out why your digital ads aren't performing as you expect them to. Despite all the time and effort you've put into them, nothing seems to be going in the right direction.

Why is that?

Our best guess is you're probably doing something wrong. There's no need to worry, though, as it's not just you who's struggling to pinpoint the causes behind your failing online campaigns. Almost all digital marketers have had the same issue at some point.

Fortunately for you, this post will reveal the five most common reasons why digital ads don't convert as they're supposed to. Along with each problem, we'll provide a solution.

Before we get into them, however, let's tackle the different benefits of digital ads (although you might already be familiar with them), as well as the six types of digital ads in case you're open to the idea of incorporating them into your marketing efforts.

Let's dive in, shall we?

Why do digital ads matter?

According to Strategy Analytics, digital advertising is now the new norm. It's the fastest-growing marketing channel with no signs of slowing down. With hundreds of thousands of businesses of all sizes and industries across the world investing in digital advertising to market their brands, it's here to stay.

But, how exactly is it helping these companies? How will you benefit from it once your ads are effective? Here's how:

You can target ideal customers.
You can reach people at the start of the buying journey.
You can make changes as you go.
You can accurately track the results of your campaign.
You can save a lot of money.
You can increase your conversion rate.

Types of digital ads

There are six main types of digital ads. Many of them overlap in their characteristics or can even be used as complementary tools.

A good example is the use of social, native and display ads on a Facebook newsfeed. While they may go hand in hand, each is seen differently by the user. How these ads work together can seem a bit confusing, but everything will fall into place after we explore them.

Display advertising

The most basic form of digital ads, display advertising is primarily comprised of text and images. These ads usually show up as landing pages, popups, flash ads, or banners on websites and blogs.

Native advertising

Native advertising is pretty much like display ads. The main difference is, it's more strategic and intentional in terms of placement and audience targeting. It is based on audience online habits and history, and will only show ads that may be relevant to them.

Social media

Billions of people are spending most of their time on social media every day, which is why social media has become the biggest hub for digital advertising. While it's common to see display, native or video ads on the platform, there are two subtypes specific to social media: Paid social media ads and organic social media ads.

Video ads

Video advertising is the easiest type of digital advertising since it's precisely what it sounds like – a video promoting a business, product or service. Despite being the most time-consuming type, it is proven to be effective. Viewers can absorb the content and learn more about the brand without a lot of effort, it makes it more convenient for advertisers to catch their audience's attention.

Email marketing

Email marketing has been around since who-knows-when, and it's going to stick around until who-knows-when. Let's face it, it's the most direct and effective way of connecting with your leads, nurturing them and converting them into customers. It's also proven to bring back old customers!

Search engine marketing

Search engine marketing (SEM) is perhaps the most dependable type of digital advertising because it's based on keywords that users are already looking for. Its purpose is to improve the visibility of a website by ranking it high in search engine results pages. Search engine optimization (SEO) and pay-per-click ads (PPC) are the two subtypes of SEM.

So why aren't your ads succeeding?

Now, for the part you've been waiting for: Why might your digital ads be underperforming? Here are five reasons:

You're running ads on the wrong channel.

If you're seeing poor conversion rates despite having outstanding numbers of clicks, you might be using the wrong platform to advertise your business. You might be running your ads in poorly performing channels targeting the wrong audience.

For instance, if your audience is mostly stay-at-home moms and LinkedIn is your primary channel for advertising, odds are you won't be converting them, let alone drive traffic to your website.

Solution: To solve this, you have to conduct in-depth research on your target audience. Find out who they are, where they usually hang out online and if they respond to ads.

You have a poorly designed post-click landing page.

Did you know that your post-click landing page design plays a major role in conversion? Even the most enticing offer won't be able to overcome a landing page that provides a poor user experience.

Slow load times, lack of calls to action (CTAs) and an visually unappealing design can drive visitors away. A site that's not optimized for mobile is another factor.

Solution: Reduce loading times by compressing your images and minimizing the use of plugins. Place your CTA forms above the fold, and make sure you're using high-contrast button colors to encourage more clicks. For your design, include a healthy balance of text, imagery and white space. Avoid paragraphs of more than three sentences.

Your post-click landing pages and pre-click ads don't align with each other.

Your ad creates expectations. A post-click landing page that doesn't align with the pre-click ad will only lead to few to no conversions.

The messaging in your ads should be identical to the messaging on your landing page. This is known as message match. For example, if your ad promises "20% off merch shirts," but you send your visitors to a webpage that says "Browse all shirts" without any single mention of the sale, you've just made a misalignment.

Solution: The best way to fix ad misalignment is by employing a 1:1 ad-to-page ratio. Each of your ads should send visitors to a landing page that reflects the same messaging in the ad. With this strategy, you're giving your audience the guarantee that you have the specific solution they expected when they clicked on your ad.

Your ads look spammy.

Nobody likes an advertisement that appears fake and suspicious. Especially on social media where ads are almost everywhere, it's difficult to tell a credible ad from a shady one.

Solution: Keep your ads looking compelling and legitimate in the best way you can. Always include a powerful CTA, urgency and strong language to engage your audience. Don't forget to maintain your brand's reputation, standards and credibility.

You're not A/B testing.

Successful digital advertisers know that A/B testing should always be a part of any advertising strategy. An A/B test may reveal that blue buttons convert better for one group, but another group of audience responds better to red buttons.

Solution: Use a post-click automation (PCA) platform to get the job done. It can automate the experimentation and testing process through optimization and artificial intelligence. Tools like built-in experimentation, traffic allocation, page editing and duplication, heat maps and an analytics dashboard will allow you to optimize your ads in ways you never thought were possible.

Final thoughts

We gotta admit, digital ads can be really tricky. However, it doesn't have to be that way forever. Once you know the do's and don'ts, apply the right tricks and correct any mistakes you're making today, you'll end up getting the results you're expecting from your digital ads in no time.

Originally published Nov. 10, 2021.

Contact the experts at Digital Resource!

The post 5 Reasons Your Digital Ads Aren’t Performing appeared first on StartupNation.

Food And Recipe Fusion

Wednesday, February 16, 2022

StartupNation

StartupNation

Why newsletters are important

Let’s get to work!