If you are an expert on Online Marketing, skip to one of our next section. Otherwise, read on about, what is modern online marketing is?
In the past, advertising was simply put, one-way communications. Receiving products from sales and product teams and communicating it to the mass. The problem? Do you know what the client wants?
Modern Marketing is a cross-department approach to centralize opportunities, threats, and internal agendas from all departments, sales, product, operations and executives, and use that customer and operational knowledge, or data, to understand what people love and finally use diverse cross-channel tactics to drive traffic, conversions, footfall and, final, drive revenue.
Online Marketing can must be broken down into different agendas – making mass awareness, driving people towards a product page or shop, convincing the individual to show interest by converting, to finally subscribing and/or buying a service or product. In short - activation, retention, referral, acquisition, and revenue (AARRR). This can be represented in a traditional marketing funnel. But the new approach is a marketing fly wheel – a ever evolving cycle centralized around the client compared to a linear approach.
If you believe online marketing is simply a set of search and display promotions, search engine optimizations, social network posts and email marketing, that simply wont cut it in today’s competitive landscape. Today, you really need to understand your target audience and use cheeky ways to communicate with future, new, current and resurrected clients. Said so, the future of online marketing is combining technology, marketing, content and pricing to create incredible digital experiences that people love and, hence, drive sales. With today’s advancements, we are able to capture every data point along the entire customer journey. Painting a complete picture of the business, its suppliers and customers. Allowing us to reiterate on a continuous basis, create campaigns driven by customer insights, and develop personalized customer experiences. The future of digital marketing) is a scientific approach.
Before we jump into explaining tools to drive traffic, tech stack to maximize data & analytics, and tools to hack growth and stimulate virality, lets first start off with realigning a modern ‘marketing operation’ and creating a ‘growth organization’. Street Inc. has undergone this process throughout all our subsidiaries, from our digital marketing agency, mobile and web applications, and physical retail products. We feel so strongly about transforming your work force into a modern organization that, if you don’t, it may break your company throughout the 21st and future generations.
Experiment at scale, fail fast, and learn to innovate is the new school of thought. Yes, this might sound like a daunting business strategy – why on earth shall we launch products that fail? But that is exactly it, how can you of all 7 billion people know that this product is what everyone is looking for? But trust, there really are not many Steve Jobs out there. This mentality of shipping incomplete products, to fail often and cheap, allows you to and your product and marketing team to build products that people really require and are delighted to pay for.
Throughout your entire company lifecycle, from startup to global corporate, you should continuously keep the cycle spinning to keep evolving with our clients and the ever-changing market dynamics. Even today’s goliaths like Samsung, GE and Credit Suisse are trying to implement such mechanics into their operations. This approach falls under “scientific marketing” or “Growth Science,” the process of applying scientific methods to grow businesses. Using scientific hypothetical testing, data, experimentation and validation metrics to: experiment at scale, fail fast and learn.
This is how the process would look like in practice:
The first step is to launch several ideas and products as quick as possible. In the tech and product world, you product an MVP whether it be a simple landing page about your latest sneaker collection, a snippet of your song, or a part of your on-demand taxi service. Launch this using simple targeting ads on Facebook or Google.
With the real market data and information that you collected, you can now understand how people react, what they don’t like, if they understand your product, and they are willing to spend on it. By using tools like, Mixpanel.com to collect data and create meaning full dashboards, or Hotjar.com, to watch users web-recording.
Since we launched several experiences at the same time, we can compare the results. And use the main key insights to restart the process with further interactions – keep the cycle turning.
Note, the further down you go, your business ambitions might change. Hence, it is noticeably clear to identify one metric that is absolutely essential for your business to survive. For Airbnb it is rooms booked. For PayPal, it is transactions made. For Google Maps, its completed trips. Using thisNorthStar, you can really understand which idea, which iteration, and which user flow worked.
SEO IS STILL KING. SOCIAL IS THE LOSER.
Check out similarweb.com and search for Airbnb. The largest source of traffic is ‘direct search’. Their billions of advertising budget has built them a fantastic brand that people remember and actively search for. Moreover, the second largest traffic source is ‘search’. Their SEO is driving 29.53% of their total web traffic. That is 21 million new users each month! After analyzing other major platforms, you will see the common trend. SEO is the main growth generator. On top of that, its organic and free!
Smart businesses like Booking.com create product-led SEO. Automized systems that create SEO-perfect pages whenever a person uploads a new room, leaves a review, or make a suggestion. Check out our ‘Web Development’ or ‘Mobile Development’ package for our expert strategy, design and engineering team to build a platform of such for you.
REFERRAL AND GROWTH HACKING ARE THE WINNERS.
The largest traffic generator for the Fortune 500, PayPal, comes from referrals at 43.10% of their whopping 565-million-month web hits. Of course, one could argue about the percentage mix of existing vs. new clients. However, it is inevitable that they have successfully build a sustainable system to leverage other platforms marketing efforts & dollars to grow their own business!
Without a doubt, product-led network effects, organic referral tactics, or incentives referral systems are an incredible growth generator. If you get a recommendation about a product from a friend, the changes of you considering it is a lot hire. The power of referral systems essentially makes each person their ambassador, delegating the sales pitch and product explanation to its users, and friends inviting friends who invite friends. If your CPA is 10 dollars, however, it is diluted to 10 referrals, your CPA essentially erodes away.
OOH AND PAID ARE FOR SHORT TERM BOOST TO TEST IDEAS.
Let us now look at ‘Social’ and ‘Display’ from Nike. If you compare Nike to other brands, their social and display ads are very high. But everyone of us has seen their ads. Nevertheless, our point is, you cant pay for hundreds of thousands of web-traffic. Thereof, paid marketing is to test ideas, as we explained earlier.
SOCIAL MEDIA IS SOLELY FOR ENGAGEMENT.
When we mention ‘online marketing’ we seem to have an obvious idea of it consisting of mainly social media platforms and social media marketing. However, as one of your trusted online marketing agencies, we are here to tell you otherwise. These tools are solely for engagement. Look at our search above of Amazon’s website statistics and you can see that traffic from social media is only limited to 5.25%. hence, before spending all your time and marketing resources into social media, there might be more effective growth initiatives.
In terms of choosing these channels, it is a critical decision to make. The top channels that we suggest in prioritizing are Reddit, Quora, Pinterest and Facebook. As these networks are built to drive traffic and provide value to other channels. While Instagram and snapchat are there to keep users within their product. What’s the use of that if you are trying to make sales on your website?
DATA IS ALL - THE EPICENTER FOR ALL DECISION MAKING.
Take this one from your trusted online marketing agency in Dubai, data like this, whether it be of your company or of your competitors could really benefit you and fuel the accuracy of all decision-making processes. Data-centric organization will prosper in the long run through deep organizational insights, better decision making, and clearer understanding of customers and its business. Street Inc. has created a specific ‘Data Package’ to create and implement your entire data infrastructure.
GROWTH FORMULA & NORTHSTAR
The main problem we find with most marketeers is following too many metrics! Do you really need all the information Google Analytics tells you? No. Every business has a hand full of key metrics that they need to follow to assess if their business is growing or not.
Determine ONE metric that really represents the fundamental essence of your business. That is your North Star. And prioritize every marketing decision to increase this NorthStar.
If you are uncertain how to do so, Growthhackers.com wrote a great article to identify your NorthStar.
Accordingly, create a formula to calculate your growth potential. Together, they will reflect how effective your product is and how fast you are growing.
Growth hacking is similar to performance marketing, as explained above. It includes the scientific lead methodology of studying user behavior and experimentation at scale to understand what works, and doubling down on growth levers. To weekly hack a Week-on-week 6-12% growth.
But growth hacking is a more out-of-the-box, risky approach. Combining developers and marketeers to hack their way to growth. It can either be by developing technological system that infiltrate other websites to redirect their traffic to your page, creating a sharing system for others to invite others, or other technical tricks that generate thousands of leads, for free.
Here are some examples of successful growth-hacks:
Airbnb had neither users nor a reputation for being a reliable service for finding and renting accommodation. They needed to gather a client base in a short time and establish themselves in the market.
To do this, they provided users with the ability, in addition to publishing on Airbnb, to quickly and easily post their accommodations on Craigslist, the popular electronic classifieds site at the time. So, they got access to a huge audience and redirected users to their webpage.
PayPal created its initial explosive growth by growth hacking Ebay. They engineered a system to allow users to add a PayPal Button onto their Ebay product pages. That of course, not only gave them instant awareness but millions in sales.
These ingenious growth hacks are not easy to achieve. Otherwise, everyone would be doing it. Many companies have been introducing Double Authentication to avoid other companies to automated systems to growth hack their platforms. But with careful investigation, ingenious thinking, and technical brilliance, there is a growth hack for every company in any industry.
Spike web-engagement by creating and implementing interactive technologies. Tools that gamify an experience, wow users, and incentives them to invite and reshare.
Street Inc. has developed several interactive technologies that you can implement:
This method is new and unexpected where you would analyze competitor’s marketing and advertising to identify what they haven’t done - essentially doing things others don’t. Examples of how this could be executed is using tools such as tinder, WeTransfer, Google Maps, product hunt, and even food delivery services such as Zomato as a platform to promote ads, create growth hacks or other.
With our own app, we tested out posting reviews on Google Maps. It turns out that we are creating hundreds of thousands of impressions by water marketing our images. Now imagine you could create a system that automatically pushes reviews on Google Maps, Yelp, Zomato, Foursquare all at the same time. This is how you can create experimental marketing, use technical growth hacks, that drive millions of free organic users.
Referral marketing is a tactic that uses recommendations and word of mouth to build up a business’s customer base. A referral program is also called an affiliate program (affiliate program). This is a type of cooperation between the company and partners, where the partner sells the services or goods of the company, and that in turn pays a fee or gets a reward. This type of cooperation allows the company to turn customers into brand advocates. Creating enormous virality, high conversion rates and reduced CPA.
Let’s see how Dropbox created one of the most successful referral systems, to date.
Dropbox’s referral system was, invite friends and get 500MB. This small prize is rewarding enough to press 2 buttons and invite others. Creating a viral exponential system of friends inviting friends who invite others.
So, how much of a difference do referrals make? Here are some stats, referred to Word Stream:
WEBPAGE DATA & ANALYTICS
Our favorite analytical stack includes:
Web analytics is a system for measuring, collecting, analyzing and understanding information about site visitors to improve and optimize the resource. The main task of web analytics is to monitor web page visits. Based on the data obtained, the behavior of site users is studied, decisions are made on the development and expansion of the resource’s capabilities. A data scientist analyses the web and app performance. The product developers work alongside to make the product better. In hope for the data to prove better results.
Considering advertising costs and the average buyer’s bill, you can determine whether an advertising channel pays off or not. But this is just one of the possibilities. You can see which keywords of your ad campaign are the most effective. Web analytics allows you to identify those keywords that have the greatest impact on product sales. By using the most effective keywords, you can significantly save on advertising costs.
This method can be used for traffic generation, reach, conversions and much more. Retargeting is a process of placing ads in front of people who have already visited your website. So you target them again with ads to further nurture the client and then again bring them back to the website. In hope that they then buy the product. This essentially corresponds to the context of a particular online resource and is a text or graphic. This type of advertising is aimed and captures the ideal potential consumer of the advertised product or service. This includes:
Mobiles can also be used for more data – including location. So you can segment people much better into social graphs and also location. You can message these people using the mobile only. Messaging channels includes:
As we have seen above, SEO is super important. If done right, it provides a massive organic stream of web traffic. It allows you to increase site traffic of the target audience using certain schemes of search engines. As far as SEO is concerned, it can be used to promote the ranking of a site through key queries. Of course, this element of online marketing is not advertising, but it has been proven to be effective by many online marketing agencies in Dubai and globally.
PAID ADS - OOH & PPC/SEM
PPC (pay-per-click) is a type of internet marketing where advertisers pay an amount of money each time their ads are clicked, thus acting as a method of buying visits to your website. Search engineer advertising is one of the most known forms of PPC. It permits advertisers to bid for ad placements in search engine’s sponsored links when someone looks for a keyword that is connected to their business offering. The search engine is software that searches for words. As an online marketing agency, we would pay a company that is an advertising platform.
So, every time a visitor clicks the ad they will be sent to our website, we will be charged. However, this fee is nothing compared to the profit if the PPC is working correctly. Each click will cost 3$ but the click results in a 300$ sale, then we’ve made a hefty profit. With the $297 profit margin, this capital can be reinvested into more Paid Ads campaigns to reach critical mass as quick as possible.
Whilst SEM (search-engine-marketing) is one of the most efficient ways us as an online marketing agency would suggest for businesses. SEM is the operation of marketing a business using paid advertisement that shows in the search engine results page(SERP). SEM’s biggest strength is that it offers advertisers the chance to put their ad in front of interested and motivated customers who are willing to buy in that exact moment. No other advertising medium can do this which is why SEM is one of the most powerful ways and one of the best ways for advertising and growing your business.
It’s a type of online marketing using social media like Instagram, snapchat, YouTube, etc. It uses endorsements and product mentions from influencers who have dedicated social media and are well known in that area. Influencer marketing works due to the trust between the influencer and the followers and recommendations from them serve as a form of social proof to your brand’s potential customers.
There are various Online marketing tools. They are all very different and good in their own way. For some companies, one or two are suitable, and for others, a whole range of online marketing. It all depends on the goals and objectives of the company’s online presence.
Contact us at Street Inc and we will find what is just right for you. We have also provided something that you can also have a look at below. Don’t be afraid of new marketing tools, it’s how we win, we disrupt.