With the recent boom in Digital Marketing, it seems everyone under the sun is starting their own e-commerce store or ad agency. But, often times we find that a large majority of these individuals are constantly trying to find the next course, book, or gimmick that will make them rich. We hate to break it to you.
We hate to break it to you. But, THERE IS NO QUICK WAY TO BUILD A REAL SUSTAINABLE BUSINESS!
If you want something sustainable, something that will grow, and something that will serve your people; you need to be sure that you understand the basics and how to identify what is needed and implement those new processes immediately. In this article, we will go over what it takes to build a real sustainable business, and how you can make sure that you have all of your bases covered.
#1 - Great Customer Service & Positive Feedback
Great customer service is an absolute must when trying to build a sustainable business. You might be able to obtain customers. But, can you keep them? By providing great service you are telling your customer they’re valuable to you and that you’re willing to invest time into their experience. This effort is proven to increase the lifetime value of your customer, and greatly increase your chance of receiving a referral. Not only that but, with the way bad news travels on social media, having a customer that has is not happy with you could lead to some unexpected consequences. So, keep your customers happy, be professional, and always remember to ask for positive feedback.
#2 - Great User Experience
We’ve all been there. You purchase a product/service only to find out that it’s not at all what you expected. This creates a bad user experience and in turn, creates hostility between you and your customer. In order to avoid a negative experience, it is very important to always set the proper expectations from the beginning. If you do this well then your customer will know exactly what to expect and in turn be happy with the money they invested in your company. This applies to products and services alike.
So, start thinking about how you’re going to take a temperature check of your customer every so often and use that feedback to further improve and refine your product/service. Trust us. Given the opportunity, customers will tell you exactly how they feel. And although it might not always be the easiest pill to swallow, this information can go a long way to developing and implementing processes and procedures that leave your customers satisfied which ultimately lead to a long-term sustainable business. Have a TON of negative comments on your ads? It's time to listen to your customers and fix whatever the issue is. There will always be those few people that will complain but your goal is to have overwhelmingly positive sentiment in the comments of your ads.
#3 – Do Not Focus on One Time Conversions/Last Click
So many people get caught up in the day to day of running their business that they lose sight of their long-term goals. How many clicks did I get today?. How many video views did this campaign have? What was my lead cost today? All of these are important, but can also take your attention away from what really matters. You’ve all probably heard the saying: Don’t work in your business, work on your business.
Well, for any business that wants real sustainable growth it is important to keep focused on your long-term strategies and not get too caught with the daily grind. What you really want to focus on is the metrics that really matter. The lifetime value of your customer, your lifetime ROI, your churn rate, just to name a few. This small change in attitude can really help you prioritize what needs to be accomplished in order to create a consistent increase in revenue.
#4 - Engaging Content
This should go without saying, but the truth is, people still pump out content just for the sake of having a blog, or because the other guy is doing it. Well, unfortunately, this is not a winning strategy. If you want your customers to rave about you to their family and friends, you need to provide them with a reason to spread the word. Probably one of the most powerful ways of doing this is to create content with a purpose. If you plan your content with an action/end game in mind it will drastically increase its effectiveness. You must also provide content that has real value otherwise your users will not come back for more.
Also, another way of ensuring your content is engaging is consistency. Think of your output like a sitcom. If you regularly post content at the same time, same day, on a regular schedule, and with a consistent message this will really help amplify your efforts in the content department. People love predictability and soon enough they will consume it out of habit, not just because it came across their feed.
#5 - Creating a Community around Your Product/Brand
Last and certainly not least is your tribe, your community, your people. These are the folks that are going to support and represent your business through the ups and the downs. So, it’s important to include this in your business strategy.
A couple ways you can build a solid group of supporters would be to start a Facebook Group. Or, brand advocates. Or, a local event with your loyal fans. The groups and events give them access to you and your brand in an unforgettable way. It’s one thing to see your face on a profile photo. But, it’s a completely different story altogether when your fans can ask you questions live. Or, better yet, shake your hand and look you in the eye. These interactions have a lasting effect on people and are sure to give your product/brand a nice boost in the social proof department.
And then there are brand advocates. These folks can drastically increase the size of your network. And provide you with an organic way of building up a community of like-minded people. So, take a look into influencers, brand rep/advocates, and take advantage of the benefits of having a solid community around your product/service.
The Bottom Line
If you want to build a real sustainable business you need to focus on the framework & foundation, not the paint and the curtains. While ads can drive an insane amount of revenue. It will only be sustainable and scalable when the other items are in place. And, not only that but once you dial in these 5 items, Facebook will actually reward you for it! They have said in the past and continue to reiterate that they want to give priority to good content that drives a positive user experience. So, take stock of your business, and make sure you have these items in place. If not, it would be wise to take the time now to get those situated before focusing too much on the next big campaign.
Now, we want to hear from you! What do you think if the most important aspect of a successful sustainable business? Let us know in the comments below.
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