Modern founders are fixated on the idea of scaling due to the costs involved with growing. Affordable, available, and omnipresent resources are the key to success when it comes to scaling your firm. The internet has become your new best buddy. A customer will use the internet to search for a company or a product, making it much simpler for you to be found if your firm has a digital presence.
What does scale-up business mean?
Simply put, a scaleup is "a relatively young, fast developing, innovation-driven company" that has gone through significant growth during the last three years. It's a business that has made significant progress, enjoyed some notable successes, and is prepared to advance. When a company has completed its initial rounds of fundraising and has reached the series A stage or a stage equivalent, it will typically transition into scaleup territory if it is seeking investment to finance its growth.
Why is it important to scale-up business using digital?
Every opportunity in and around your company must be taken advantage of for it to expand and become recognizable. Digital marketing is a fairly broad term that can help your company grow and achieve its sales targets. Here are some justifications for why it's critical to use digital to grow up businesses:
1. Improved Productivity and Efficiency
Digital technologies increase productivity and efficiency by streamlining operations and speeding up processes. For instance, robotic process automation can surpass humans in many ways. Data analytics tools and business intelligence technologies can gather and analyze data more quickly and accurately than humans. The analysis is then used by employees to speed up decision-making over what would be possible.
2. Product and Service Improvements
Your products and services typically get exponentially better when you invest in digital transformation. This is because new technologies enable you to provide higher levels of quality to your clients, who will warmly welcome these advancements and favorably see your company. All of this additional quality can even open up new business prospects for you, such as expanding into new markets, connecting with current and potential clients, and even enhancing the features of your current items.
3. Remain Competitive
All markets change quickly, and companies that can not expand will get left behind. You have a lot of catching up to do if digital transformation is still not a reality in your business. Fortunately, choosing such a choice will support your ability to compete. Even larger competitors are subject to this. You don't need to have as large of a budget or customer base as they have in order to achieve better results because the digital transformation will still assist you in doing so.
4. Offers a Lot of Value for Less
Digitalization offers a very appealing cost-benefit ratio when you take into account the benefits you can obtain from it. Simply select the finest options for your needs and correctly implement digital transformation in your company. Technology can assist you in expanding your firm, identifying profitable prospects within your own data, and even reducing the likelihood of mistakes. This combination will increase the return on your investments and make the improvement expenditures more reasonable and justifiable.
All markets change quickly, and companies that can not expand will get left behind.
Why Need Strong Digital Activation/Brand Visibility?
Because it is the very first stage in the marketing funnel and a critical foundation for eventually gaining customers, brand visibility through brand awareness is significant. It speaks to people's capacity to remember and identify your company. Strong brand awareness keeps your company at the forefront of your audience's minds. People might grow accustomed to and at ease with your brand if they are aware of it. They will then be more likely to choose you when given the choice between you and the competition. Additionally, it aids you in achieving a number of professional aims and ambitions. It may broaden your audience, boost website traffic, foster lead generation, and foster brand affinity.
Making an emotional connection between the audience and the brand is the aim of digital activation and brand visibility. It can utilize a variety of pathways and assume many different forms. The goal remains the same, encouraging involvement, and forge lasting relationships with customers.
Strong brand awareness keeps your company at the forefront of your audience's minds.
Some Examples from Successful Big Companies That Increasing Their Online Presence
these are some companies that maximize digitalization in presenting their brands online so that they are able to survive the intense competition and even their names become major brand names:
The globe is encouraged to wear casual clothing by the creative Japanese clothing brand Uniqlo. Its goal is to offer affordable clothing that improves your life.
If you've ever lived in a big city, chances are you've seen a Uniqlo advertisement or shopping bag. However, the firm wanted to show customers that Uniqlo is more than simply a fashion label. What is the most effective method for doing this? a successful online marketing effort. Uniqlo developed a "fast-moving" visual campaign that was a first for the world and launched it online and in 100 stores. Fast-moving visuals are used in the ad to convey a special product code that is invisible to the unaided eye.
The five-digit code was then uploaded by customers to the campaign website in order to redeem a sample from the HEATTECH apparel line. Following their arrival on the website, visitors were guided through a series of educational screens that thoroughly explained the technologies underlying Uniqlo items before displaying a page with the winner.
Sharing this experience on social media inspired people to use similar YouTube and Facebook tutorials to crack their own personal code. The outcomes were fantastic. 1.3 million people watched online videos, and over 25,000 people signed up to receive newsletters from UNIQLO. 35,000 new customers were acquired as a result of the campaign, which reached over four million individuals overall.
Many businesses make much-hyped claims about "the communities" they're building online and the intrinsic worth of "online discourse". However, very few truly build any kind of valuable community. American Express utilizes the value offered by sector experts on its Open Forum website, proving that it is far from being all talk and no action.
American Express encourages guest authors from a range of industries to offer their business expertise on the collaborative website known as Open Forum. The end result is a mega-site with a lot of content that is well-liked by search engines, all of which was done without American Express having to pay content creators any money.
Dove ads that challenge beauty standards with touching ads rank among the most successful digital marketing initiatives. Dove realizes that the products they provide—soaps and body washes—are really small components of the whole situation. Women don't just want to feel beautiful, they want to feel better.
The Dove's Show us campaign, which combines images of Dove, GirlGaza, and Getty has taken this concept one step further. More than 10,000 images of women and non-binary people from 39 different countries are included in this collection. It gives all media and marketers access to a more inclusive definition of beauty.
The company's value has soared to $4.5 billion as a result of this campaign, which demonstrates the importance of getting involved in a movement and paying attention to what your customers want.
how to scale up your business and online presence using digitalization
1. Planning Digital Strategy
Digital strategies depend on monthly roadmaps that are both short-term and long-term, linked to actionable items and scalable enterprises. All business plans will eventually incorporate digital methods to advance the firm itself.
The basic objective of the digital strategy is to use technology to increase organizational effectiveness, whether that includes creating entirely new products or reevaluating current processes. In order to establish a digital strategy, it is essential to consider customer insights, customer trends, market planning, data science, data analysis, and product strategy.
2. Enlarge the Business through Digital Marketing
In recent years, digital marketing has exploded into the marketing scene, and its effects have not been slight. While traditional marketers and traditional businesses have battled to survive in this new climate, customers, prospective customers, and clients have improved their competency in using digital platforms. Businesses have adopted the modern marketing strategy because they cannot afford to disregard changes in customer behavior.
The goal of marketing has always been to reach your target audience at the ideal moment and location. You should do this by contacting them right now online, where they have spent the majority of their time.
The process of enhancing campaign development and delivering it through digital channels to promote brands and connect with potential customers uses the internet and other digital communication channels, such as search engines, social media, google ads, websites, mobile apps, email, text messaging, web-based advertising, and any other digital platforms.
The goal of marketing has always been to reach your target audience at the ideal moment and location.
Also Read: The Ultimate Guide to Digital Marketing
let's discuss some digital marketing tools that are very crucial for scaling up business:
More and more companies are creating websites to engage customers and sell their brands and products. Given that the Internet has evolved into a source of news, information, and entertainment, professional company websites are just as important. Both small and large businesses need to realize the value of having a website to take advantage of its many benefits. It is very important to properly design your website based on the user interface and user experience as it can increase brand awareness and credibility, bring in organic traffic, provide the possibility to be recognized overseas and enable competitiveness on a large scale.
User experience is important to meet user expectations and promote the effective operation of your site. In addition to being responsive, a well-designed user interface enables effective communication between the user and the machine, application, or program. User experience, or UX, is a term used to describe every interaction a person has with an item or service. UX design considers every factor that influences this experience, as well as user emotions and how easy it is for them to perform the desired task on a website, with that ease it will affect the user's final decision in using a service or purchasing a product.
You can interact with your customers on social media and learn what people are saying about your company. Social media can also be used for mobile apps, giveaways, and advertising. Another benefit of using social media platforms like Instagram, Facebook, Twitter, Snapchat, etc. is their ability to attract customers, gather feedback from them, cultivate a sense of loyalty, and you can also analyze consumer insight in social media analytics. Social media can also expand your customer base to global markets. Create customer and advertising networks, and increase revenue. Swap concepts to make your business operations better, and you can keep an eye on your competitors by keeping an eye on their social media.
Increase your email marketing efforts too. This could require investing in a more comprehensive email marketing tool. The first step is to examine the buying patterns of your customers and determine how to develop your email marketing initiatives accordingly. Create an email marketing campaign based on subsequent actions—or lack thereof—to increase open and sales rates based on data on consumer purchases and interest in specific products.
3. Digital Branding
Digital branding displays the total brand influence rather than just emphasizing the advantages of the product. It makes explicit connections between the brand's basic values and culture and the item the company is attempting to sell. It also reveals the brand's culture. Your company is given a face and an identity thanks to digital branding. This enables clients who come across one of your social media campaigns or Google advertisements to view more than "simple ads." Customers get more emotionally invested in your brand, which increases their propensity to pause and pay attention to what you have to say about it. Customers who have strong connections will be very loyal to your brand.
Read: Your Guide to Branding and Why it Matters
4. Utilize Media Production to Engage Your Audience
It goes without saying that today's business practices are much more dynamic and advanced than they were five years ago. The professional world has evolved beyond the printed word when it comes to marketing. Leveraging the multiple channels available to spread the word about your products and services can help any business become more visible.
Google Analytics Allows You to Monitor Every Single Conversion
Although tracking conversion across all platforms looks like a laborious process, it ultimately pays off. You won't be able to anticipate the improvements you'll need to make to improve your online store as it scales if you don't know where or how to track your data. Utilizing software like Google Analytics is one method for tracking all of your conversions. Google Analytics makes it easier for your entire team to understand what's happening with the back end of your eCommerce site.
Learn more about the sources of website traffic using your Google Analytics data. You may view in-depth reports from Google Analytics on email traffic, direct traffic, social traffic, and organic traffic. The information you've gathered here can help you scale your online store by letting you know what's working and what isn't, as well as the most effective way to employ technology in that process.