Does my business need innovation?

Sales Team - CRM
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Why we need Innovation?

Let’s start by looking at what has changed from March 2020 to November 2020 for innovation.

Big Changes 
  1. More employees are now working from home
  2. Commercial office space is underutilized
  3. Businesses are rushing to digital transformation

Let’s also take a look at how the pandemic impacted consumer spending. 

Bob in innovation team
Increased Spending
  1. Inventory depletion and pricing increases in material
  2. Increased spending on safer vacation options (RVs and Cottages
  3. More Online purchases of
    • Household cleaners and soap
    • Vitamins & Supplements
    • Hair colour
    • Coffee
  4. More money spent on home improvements
  5. Increases in home deliveries
  6. Reduced spending on
    • Cosmetics
    • Suncare
    • Travel
How has consumer behaviour changed?
  1. Consumers are spending even more time online.
  2. Before the pandemic, the average person spent 7 hours a day online. We’ve seen significant spikes as consumers try to fill their time.
  3. Consumers have more time to consider options, read reviews, and compare brands.
  4. With limited budgets, we are seeing consumers become more conscious of their spending.
  5. More consumers are looking for enhanced service. They’re also likely to switch brands after bad experiences.
How can a business owner innovate during this massive shift to digital?

The first thing a business owner should do is take time to assess the state of their business today.

Start by looking at the basics and answer these questions.
  • Who are my customers?
  • Have I seen a decrease in sales?
  • Have I seen an increase in new customers?
  • How did those new customers find me?
  • Has there been a change in the products or services I sell?
  • How do I communicate with my customers? Has this changed?
  • Answering these questions is a good starting point to see if there has been an impact on your business due to the recent changes.

Next, I would take stock of your current brand and marketing assets.

Create a list of all your brand and marketing assets and complete a simple audit to understand the need of innovation.

Marketing Stage - Innovation - Retarget Ads

#1 Website

  • Update all out of date information
  • Analyze the traffic and visitor behaviour
  • Ensure that your website is optimized for customer experience

#2 Social Media

  • Update all out of date information
  • Review all the activity
  • Ensure that your social profiles are set up properly
  • Create content to attract and engage your audience
Bob in innovation team
CRM for Sales Team - Innovation

#3 CRMs

  • Review your CRM set up and make sure it aligns with your customer retention and acquisition goals and objectives
  • Ensure that you or your team are updating the customer information on a regular bases
  • Review your CRM reports (if you have them) and look for opportunities to improve your customer relationship management 

#4 Advertising

Make a list of all your advertising efforts

  • What did you advertise?
  • Where did you advertise?
  • What were the results?
    • What worked?
    • What didn’t work?
  • Analyze your ROA (Return on Ad Spend)
Marketing Stage - Innovation - Retarget Ads

#5 Brand Assets

    • Organize all your brand assets
    • Review all your brand assets
      • Does your brand assets need to be updated?
      • Are you missing images, videos, logos?
      • Do you have images for all your services or products?

Now, let’s look at ways you can innovate.

Here are some examples
  1. Google 
    • Google my business account
      • Find ways to improve
        • How customers find your business
        • How customers call you
        • Provide social proof through reviews
        • Add your products or services 
    • Google Adwords
      1. Create audiences that match your target customers
      2. Find the right keywords to attract new customers
      3. Set up ads to convert consumers searching for your products or service
  2. Website forms & CRM Integration
    • Create forms on your website that integrate with your CRM
  3. Email Automation
    • Design an email sequence that will help convert visitors into customers
    • Create drip campaigns that will keep your current customers engaged with your business and reduce churn
  4. Facebook
    • Facebook Ads
      • Create a Facebook Ads strategy from your customer list 
      • Promote your brand on Facebook 
      • Build custom audiences and lookalike audience from people that have visited your website or engaged with your ad

Businesses have always needed to innovate. But now, more than ever, it’s critical that we look to digital transformation. This blog is not an exhaustive list of tips and best practices. Just a starting point to get you thinking about digital transformation. Think about how your business attracts, converts, and keeps its customers. Is there anything in the article that you’re not doing? 

What to Learn More

To find out more about innovation to help you scale your business, book a call with one of your account managers. We will learn more about your business and show you how to optimize your processes.

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