Digital Business 101
What do you think of when we say digital business?
Most of our clients come close, but misinterpret the meaning just a little bit. They typically think of a giant digital monster like Amazon or Google, or on the flip side, think of a small do it yourself-er hustling tee-shirts from their house. While both of those examples fit within what we call digital businesses, most of our clients forget about themselves and don’t think that a digital equivalent for their business could or does exists.
When we say digital business, we are talking about converting or building upon existing successful business by creating a web based location, but let’s back up a second. At this point, usually people are thinking; “So you’re talking about a website.”, well yes, but not quite. You probably already have a website for your business and that’s a piece of the ecosystem required in a digital business, but it isn’t the only piece.
Think of it this way; if I had a billboard sign put up on some random side road with my business contact information and a couple services listed, would you consider that sign a business? I wouldn’t. At best, it’s an interesting marketing piece, are worst it’s an eye sore that someone wasted way too much time creating, ouch.
Now translate that example back into the digital business conversation. That sign is most websites in their current state; a low traffic propaganda piece with a phone number and an email contact form. To make it a digital business it needs to; attract customers, make people want to spend time there, it needs to be useful in the visitor’s pursuit of a solution to their problems, and most importantly, it needs to convert potential customers and clients into ACTUAL customers and clients. Simple enough, right?
Why leverage a digital business?
But you might be asking yourself this, “Why go through all of this work to create some digital business when I already have a great business in the real world?”. Well, answer me these;
- How many people does it take to make your business run smoothly?
- How much real-estate is required for you to operate your business efficiently?
- How many customers and potential customers can you and staff deal with simultaneously?
- How much business do you lose when your store front is closed?
- Lastly, how much more do you think millennials prefer to shop and browse online vs offline?
Hopefully after you answered those questions it became clear, that if you could have a digital location to; handle nearly limitless simultaneous customers from anywhere on earth, with no staff, no real-estate (bye-bye parking problems), no closed hours, and icing on the cake your customers will appreciate it MORE than how you are currently serving them. Then I’d say why wouldn’t you be scrambling to get your business online!
For most businesses, the reason they do not have a digital business (or digital business location) is that;
- They aren’t sure how their service(s) or product(s) can be sold online.
- They aren’t familiar with how to create or manage a digital location.
- They aren’t confident that it will work.
- Or lastly, they think the internet just isn’t really a big deal.
If you’ve thought any of those things, then you’re in luck, because that’s why we exist and I’m about to show you how we do it (unless you agree with number 4, then I don’t think we’ll get along all that nicely).
How to start and run a Digital Business – The Super Simplified Version
- Develop, or adapt a traditional model into, a digital business model – preferably one that makes money.
- Test your concept with a simple landing page, use split testing to collect even more data.
- Test multiple ads with a couple different messages, sending them to your landing page. (Split Testing Advertising)
- Gauge interest on your landing page.
- Build your full site
- Updates, Updates, Updates.
It is, most definitely, a lot easier to read those steps then it is to execute a strong business plan. Never the less, they are the basic steps we take to make sure our clients get results. Making sure that each of these steps are handled efficiently and diligently are key to really getting a good understanding of your digital business potential. If you own a business and want to get more information on how we could develop a digital store front for you, reach out to us here.