Digital lingo continues to evolve, and keeping up-to-date with terminology, platforms, and processes can be challenging. Whether your business is new and you’re seeking growth opportunities, or you’ve been around for a while and want to build loyalty, your digital tactics must evolve, too. Are you acquainted with these 5 Cs?
By Susie Erjavec Parker
Digital marketing is an umbrella term encompassing all marketing taking place online on digital devices, using digital services such as search engines, blogs, ad networks, social media, and email. Digital marketing also involves tools (both internal and external) that monitor organic and paid activity and ad or campaign performance.
If you’re trying to step up your digital game, here are 5 C’s you will want to explore to help you maximize your online properties and activities, and learn how to monitor analytics that matter.
Call To Action (CTA): A CTA encourages prospects or customers to take an action, and can be in different forms such as a text hyperlink or a button that says “Shop Now” or “Download White Paper”. The CTA might be subscribing to a newsletter, signing up for a demo, or making a purchase. But a CTA can run longer, too, such as “Subscribe to our newsletter” or “50% off today only.” Remember to be creative but to be clear. Too many CTA in one marketing piece may confuse your customer, so be focused for best results.
Conversion rate: The conversion rate is the percentage of customers, or potential customers, that takes the specific action encouraged in your marketing campaign. Marketing efforts focused on convincing a prospect or customer to take the next step moves them along in the customer journey and into your sales funnel, so conversion rate is an important metric. Conversion rates vary depending on marketing channels and industry, so consult benchmarks to help you understand how you’re performing when measured against your competitors and peers.
Community management: Community management is the process of building communities (online or offline) for your customers, fans, and even employees. It means fostering an authentic and engaging environment for your brand. A community may gather on your social media channels either in Pages or Profiles owned by you or they may operate in fan-managed environments. Marketers should know the benefits and pitfalls of both and find ways to engage with these communities to work on customer service issues, exclusive fan events or perks, and even nurture them for ideas and intelligence.
Cost of acquisition (CAC): Everything marketers do is about customer acquisition and retention. Customer acquisition refers to all of the activities involved in obtaining a customer. CAC refers to the average cost of acquiring a customer, and may be determined by using this formula: sales and marketing expenses ÷ total number of customers = CAC. This number, coupled with CLV (customer lifetime value), can tell you about the potential profitability of your business model.
Content Creators, AKA Influencer Marketing: It’s more than TikTok, Instagram Stories, or sponsored blog posts. Influencer marketing is not arbitrary and should be a part of every marketing strategy. It can be a highly effective way to tap into a customer persona or build relationships with those who have the power to convince their audience to trust their recommendations and referrals. Also known as content creators, influencers may have built a following by being knowledgeable and expert in a specific field, based on their experience, education, or status. They can create engaging and high-production content for their audiences and can drive results. But don’t get excited only by number of followers, because it needs to be about the connection and reliability they have built with their fan base/followers. Consider partnering with micro-influencers (those with less than 10K followers), as this can benefit your business or brand when there are mutual values and engaging content.
Stay tuned to the MCC website for additional digital marketing posts from Susie Erjavec Parker, a writer and expert on the current and future state of social media and digital marketing.
She also consults on public relations, marketing trends, and the intersection of consumer behaviour.