Ask yourself the following questions:
- Who are my main online consumers?
- Where does my primary web traffic come from?
- Are my clients more engaged in my website than that of my competitors?
One of the biggest failures of company’s website campaigns is the lack of overall web-market research and analysis.
In North America alone, 58% of Entrepreneurs above the age of 24 had difficulty answering at least one of the three questions above. Of these individuals, 90% own companies that make annual revenues of over $90,000 (To view results, please click here). Even more shocking than that, only 43.7% of those were confident of their primary client’s loyalty to their respective company.
In order to optimize a powerful online market, one must look to enhance a powerful online marketing strategy that builds a stronger and more sustainable relationship with web clients.
Let us look at a few ways of avoiding the specified issues above, accordingly:
Analyze your current web Industry and competitors
The first mistake individuals make when approaching their web marketing strategy is hoping for an easy ‘push’ motion in order to grasp some form of demographics or traffic.
It is important to understand the current status of the respective industry on the World Wide Web before tackling any sort of overall web strategy.
If, for example, you wish to enhance a new form of revenue from selling E-Book readers online, it is imperative to first understand:
- Who the biggest, existing, competitors are?
- How strong is their current online marketing strategy?
- What are their greatest web strengths and weaknesses?
In this competitive analysis, it is important to break down every aspect of a competitor’s website, understand what attracts people to their site, and what could push users to leave their site. It is recommended that you talk to web designers and researchers to help guide you
Locate Digital Tools that can help build your industry web research
Toluna Inc. (www.toluna-group.com) is one of the largest online market research panels offering extensive tools for research and market collaboration. By leveraging such comprehensive market tools, users are able to administer a complete set of surveys and focus groups with extended background in filtered demographics and overall education.
Building on our previous e-Book example, if we wanted to test and understand how successful our e-Book online venture would be for different target segments, we would need to test the following attributes:
- Gender – Who is more likely to buy the product? Male or Female?
- Age – Which age group is likely to utilize our site more than the rest?
- Country – Will I need international shipping features on my website? Or will it be local only?
- Education – How educated must my target clients be to full utilize my website?
- Household Income – Which of the groups of users are likely to buy my products online?
Understanding your demographics will ensure a more strategic and targeted approach to online presence. This knowledge can also help inform decisions in your overall website and commerce strategies.
Monitor your websites overall fluctuation of traffic, effectiveness and response rate
Google Analytics is one of the many great tools out there that offers its users the ability to view how well their site is being published online. Not only are you able to gain traffic and overall marketing feedback, you are also able to track new site or marketing changes in hopes to generate a new sense of strong brand marketing.
- Track overall brand awareness versus competitors
- Understand new potential marketing options that could boost overall traffic and, potentially, revenue
- Understand new niche areas that could be marketed in hopes to gain a stronger clientele base
- Understanding which areas of their website need to be change/updated to satisfy overall customer demand
This, in turn, can help you optimize and manage new changes to your website in order to increase awareness and drive traffic within your online market.
Radi Hindawi is a Digital Enterprise Specialist graduate from the University of Toronto’s Communications, Culture and Information Technology program. Radi has leveraged his academic background and professional experiences in web development, online communications and digital marketing. For more information, please visit www.radihindawi.com
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