While the launch of the digital age is old news, business owners may still find it overwhelming to leverage the potential power of online marketing. They now have not only social media and websites at their disposal but also artificial intelligence, machine learning, algorithms, and the metaverse. “And that’s just for starters, as the industry continues to innovate new tools at a rapid pace,” says Dario Markovic, an international digital marketer and the CEO of luxury fashion brand Eric Javits. Dario has used the power of ecommerce and online marketing to launch Eric Javits stores in South Korea and to open a new distribution center in the Netherlands. Below, he talks more about how small business owners can overcome the obstacles to implementing cutting-edge digital marketing strategies in their own companies.
1. Remember that tech is really just about knowledge, which anyone can gain
“First, people often hesitate to invest in something they don’t quite get. That’s natural, but while there are a lot of specialized terms and concepts in digital marketing, everyone can learn them,” says Dario. “ The key to doing this is to remain organized in your approach, be consistent in your efforts, and diligently apply what you learn to your marketing efforts.”
It also pays to focus on smaller details. For example, rather than try to understand exactly how the metaverse works, focus instead on learning how it could be used in a specific way. Those smaller details, and your understanding of them, will grow over time and eventually result in a broader comprehension of the metaverse itself.
To get started, especially if you are on a budget, check out your local community college or look online for free or low-cost courses. Consider carefully what they offer and see if you can envision applying it to your digital marketing efforts. If not, then it might be better to find a different educational option.
2. Set a realistic budget for your digital marketing efforts, with a plan to slowly increase it
You don’t need the budget of a mega-corporation to reap the benefits of a digital marketing campaign. “Just the opposite, actually, because your first goal should be to invest only what you can afford and increase from there,” Dario explains. “You’ve got a few good options. First, check out digital marketing platforms with tiered services and see what you receive for the more affordable options. Second, determine if any allow you to adjust your budget based on performance. Last, remember to focus on only a few channels and really dig into what they can do. That will prevent you from overspending.”
3. Focus on marketing fundamentals, including quality content
AI’s bells and whistles can grab attention, but they are meaningless if the content itself is not stellar. Before investing in expensive digital marketing tools, take a close look at your content. Is it designed to stand out to your customers? Or, will it be overshadowed by technology?
“Never underestimate the importance of content that is relevant and valuable,” Dario advises. “Yes, you want to make it visually exciting. Just remember one of the biggest rules of digital marketing: technology is there to elevate the content, not dominate it.”
4. Increase your ROI by leveraging analytics
It’s a good idea to be cautious about digital marketing and to evaluate its potential ROI before investing in it. To compare the performance of a digital marketing campaign to the amount of time and money you invest into it, learn to use Google Analytics and email marketing software.
“It will reveal some crucial KPIs, such as the number of people visiting your website, your conversion costs, and the costs associated with acquiring customers,” Dario says. “Even if data makes you crazy, as it does a lot of people, tapping into this will really help you optimize your digital marketing strategies.”
5. Last, keep your customer demographic in sight
Perhaps the biggest mistake you can make is to allow your digital tools to overwhelm your understanding of your customers. “Just like with your company’s content, the demographics, interests, and pain points of people who buy from you are far more important than AI and its incredible abilities,” Dario believes. “Remember to allow that information to drive all of your digital marketing efforts, and that will optimize your campaigns and lead to stronger ROI.”
Learn more about Dario Markovic on LinkedIn: https://www.linkedin.com/in/dario-markovic-2a326aa9/
