The 5 Step Marketing Process
The 5 step process for online-based businesses
This is the criteria of the main activities that have to be carried out in any online-based enterprise. These activities can also be looked at as the major categories under which every online-based business must adhere to right from the time of its inception to the day-to-day running of the business to succeed. With or without experience in online marketing these five steps are a great guide to succeeding in whatever business you wish to conduct using a web-based enterprise.
1. Website- for any digital marketing venture to succeed, there must be a website that identifies with the brand and the types of products or services of the business. With the advancement of technology today it has become easy to establish a website or easily setup one with minimal effort even without the technical coding experience like was the case before. Alternatively one can also set up a website on pre-hoisted e-commerce platforms such as Shopify, BigCommerce, Wix.com and other platforms that have specifically been designed with industry-specifics in mind and all one needs is to brand and design their platform using a drag and drop format.
2. Inventory-this is the availability of the product/services you intend to sell on your online store. Inventory can include actual tangible products that have to be delivered to the customers after purchase using well-communicated guidelines that fulfill all the conditions promised to the customer. It can also be a product that the customer can download immediately after purchase or service that they can access in the form of a tool that helps them accomplish a specific task like invoicing. Inventory arbitraging is also an alternative one can use to run an online business.
3. Web traffic-once a website has been set up, the next step is to direct potential customers to your website. The web visitors you direct to your store should be people interested in the product or service that your business is offering and hence criteria to identify and direct high-quality traffic will result in more income from your web traffic campaigns. This is the step where digital marketing comes in starting with content generation, communication across social media channels, email marketing, paid searches and many more. It can be a simple or complex process depending on the objectives and the size of an organization. We have a web traffic campaign service that uses highly qualified criteria to direct visitors to your website.
4. Multiplier system- these are the collective efforts employed by the online marketing team to engage with their potential customers to increase their sales and retain the customers they have gained already. This includes methods that constantly keep a close relationship with your customers such as emails on offers and discounts. The multiplier system should also include new products, services and innovations that are of benefit to your customers based on the insights you have acquired using analytical tools to understand their needs.
5. Rinse and repeat-this is the final step and it involves going back to the starting point and repeating the procedure again up to step number four. For a business, the owner who understands the processes followed daily in the running of their business, an executive position can be assumed while delegating the other four steps to hired personnel. The business owner at this point can now start to focus on growth and expansion while supervising to ensure that the first four steps are carried out in a manner consistent with the priorities needs of the business and the customer in mind.