3 Elements of a Successful Digital Selling Strategy
𝐃𝐢𝐝 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰? 𝟔𝟕% 𝐨𝐟 𝐚 𝐛𝐮𝐲𝐞𝐫'𝐬 𝐣𝐨𝐮𝐫𝐧𝐞𝐲 𝐧𝐨𝐰 𝐭𝐚𝐤𝐞𝐬 𝐩𝐥𝐚𝐜𝐞 𝐨𝐧𝐥𝐢𝐧𝐞!
With the advent of the Internet, and exacerbated by the wide-ranging effects of the COVID-19 pandemic, digital marketing and selling has now become the norm for many businesses around the world. The most effective marketing tactics used today reach a multitude of consumers and buyers mainly through online digital methods.
📌 The Benefits of an Effective Digital Selling Strategy
An effective strategy provides guidance — Without clear, strategic goals, it is challenging to determine the level of resources required for certain marketing initiatives to succeed. Your business will also lack clarity in understanding if its goals have been met, even with the right analytical tools.
Having a strategy helps you to better estimate your potential market share — Without a clear strategy in place, many businesses underestimate the demand for their products and services. Additionally, businesses without a strategy are unable to fully comprehend the characteristics of the industry they are in, such as buyer habits, customer profiles, and competitors.
It guides you in creating a strong value proposition — A strong, comprehensive digital selling strategy would help your business stand out from the ever-competitive business landscape and succeed in today’s world.
A strong digital sales presence helps buyers find you — A strong digital selling strategy and presence will make all your company-related information easily accessible and updated on all critical social media channels. As buyers are exposed to up to 10,000 different brands every day, removing any obstacles between your company and potential customers is essential to sustain buyers’ attention and to keep brands in their consideration set.
Avoid wasting resources and time — Aligning your employees and departments with a coherent digital sales strategy keeps everyone on the same track. This ensures that every resource your company expends moves your business in the right and intended direction.
It's essential to comprehend the components of a successful digital selling strategy before you begin any digital activity. What specifically do you need to focus on, when there are so many channels and opportunities to perform your digital efforts? By comprehending these key components, your brand can then reach out to your target consumers effectively.
📌 The 3 Essential Elements
As you build up and refine your digital sales strategy, keep in mind the 3 essential elements as outlined below:
1️⃣ Increase the Efficiency of Your Online Sales Funnel
A key component of a successful digital selling strategy is understanding your brand's online sales funnel, as it will reveal insights into the thought process of your potential consumer.
Engaging prospects, closing the deal, and retaining devoted recurring customers are all phases in the process of moving prospects through your sales funnel. The ideal sales funnel for online selling will begin to interact with customers at the top of the sales funnel and keep them engaged with your brand throughout the funnel, until they decide to make a purchase.
2️⃣ Create Content That Encompasses Your Entire Online Sales Funnel
When it comes to creating a successful digital sales strategy for your product or service, content can make or break your business. The modern, technologically-savvy customers of today look for information that value-adds to them, and they are constantly on the lookout for relevant, high-quality material.
When done effectively, digital content can keep a prospective buyer engaged with your brand from first exposure all the way through to the conversion stage, and even convert them into recurring customers. Ensure that your content is thoughtful and comprehensive, as positioning your business as industry thought leaders through educational material increases your credibility, making buyers more likely to engage with your brand.
3️⃣ Use Analytics and Data to Fine-tune Your Digital Sales Strategy
The way that digital sellers and marketers understand the online behaviours of their target audience is drastically changing. People are increasingly knowledgeable about brand engagement and customer demands, thanks to an influx of data from sources like Google Analytics and the "business" profile option on numerous social media networks, which provides businesses with insights on content performance and engagement rates.
Utilising this information can aid in developing and fine-tuning an effective digital sales strategy. Being aware of where prospective buyers tend to exit your sales funnel gives you the ability to adjust your online sales funnel to suit your buyers’ needs and demands. The most effective digital sellers are maximising this data's potential by leveraging intelligence tools to learn how prospects spend their online time, in turn boosting productivity and optimising their digital sales strategies.
📌 Ready to Build A Successful Digital Sales Strategy?
With the transformation of the B2B Selling landscape over the last couple of years, VKT and SMU Academy have jointly launched the Executive Certificate in Strategic Digital Sales Leadership for Singapore Businesses programme. Up to 90% Skillsfuture subsidy can be made available for mid-career executives and SMEs.
The practical design of this programme will take you through the key elements of a Sales Leader’s role & responsibility, sales culture, recruiting & hiring, adopting the right sales compensation, sales strategy, sales coaching, and effective sales pipeline management so you will gain the skill sets and toolkits required to build a high-impact sales team.
Wait no longer and sign up now! You can also contact us for a coffee chat to discover more about how you may start your digital sales journey and leverage our expertise.