6 Best Business Tools in 2020 by Top Digital Marketing Agency, Absolute Digital
Updated: Oct 20
If you're a business owner (or starting a business soon) and want to know what are the top 10 best business tools you can use in 2020, you've come to the right place! In this article, we will summarise the most important tools you'll need to have in order to run a successful business, regardless of which industry you are in.
1. A Website
One of the most important things you need when you start a business in 2020 or when trying to stay relevant in today's economy, is having a proper website. And no, we don't mean those outdated, 6 pages full of dry content and pixelated images kinds of website.
Your brand's website is a reflection of what you stand for. The design, functionality, and overall quality of your website translate your brand to the viewer. More often than not, users perceive a brands value through the quality of their websites.
In the past, having a nice looking website may hold the key to attracting new customers. But in 2020, these websites are plentiful. So you have got to create a website that not only looks good but also functions well. The first step is having a logical sitemap planning and an effective UI/UX design to make sure your users can have the best experience possible, regardless of the device they are viewing your website on.
Make sure your website is mobile responsive, and have all the basic requirements of a well-designed website, then take a look at customer's feedback to see how you can constantly improve and stay relevant.
2. Digital Presence
A mark of a successful business is when your customer can instantly recognize your brand. Have you ever seen colours and immediately thought of a brand? Like Red and Yellow for Mcdonald's?
Of course, you say, that might only apply to conglomerates and century brands who've spent fortunes on advertising and marketing. Yes, and no. Digital marketing has provided an avenue for small businesses to reach out to their potential customers in ways these companies did not have in the past. It is now much easier to broadcast your brand's message to customers if you have the right strategy!
More brands are starting to recognise that social media platforms have more to offer than they previously thought. This is mainly because you would want to appear where your customers are spending most of their time. Social media also allows you as a brand to effectively target your customers based on the content they are searching for. If your business can offer a solution or alternative to what they are searching for, you might just have their interest.
3. A Strategy
Having a strong digital presence with a website and social media accounts is just the beginning. To effectively reach out to your potential customers online, convince them to view your content, and finally purchase your products or services requires careful and strategic planning. This is where an online sales funnel will help you achieve your desired goal.
By researching data from online sources, you will be able to understand how your customers behave online, and what makes them buy from you. Instead of guessing if this or that method might attract more customers, digital campaigns have the ability to monitor and track the performance of your ads.
The key is translating those numbers into suggestions for improvement and how you can better convert impressions into sales. To do that, you'd need to tap into the wealth of knowledge and experience of a reputable digital marketing agency that can offer your business value-added suggestions to convert your digital brand presence into actual sales.
4. Understanding your Customers
What most companies fail to realise is that your business solely depends on the demand for your value, products, or services you provide. This means that in order to flourish in this competitive market economy, your business has to have a good understanding of what your customers need, or even better, predict what they would need in future, and be the first one to fill that supply gap.
Numerous examples of successful companies who have implemented a sales strategy based on their understanding of their customers. A perfect example is from Steve Jobs, where he once famously said...
"A lot of times, people don’t know what they want until you show it to them." — Steve Jobs
Steve didn't believe in market research because understood his customers and know what they want, even if they didn't know it at that time yet! This is the genius of Apple, and what made their products so successful.
5. Targeting the Right Audience
Even after you have a great strategy, a good understanding of your customers, and a solid digital presence, your company will still be limited by its resources. The key is to focus those resources on the people who are most likely to purchase from your brand. This means targeting the right audiences with your digital marketing campaigns, therefore increasing your ROI.
You can easily do this by building a profile of your existing customers with channels of feedback such as your social media accounts and website. Consolidate this feedback to better understand what made these group of customers choose to buy from you instead of your competitors, and work on improvements on your brand.
Customers like to feel heard. Value your customers and they will value your brand.
6. Taking Care of Your Customers
By targeting existing customers with a proven interest in your product and willingness to buy, you’re giving yourself a stronger chance of success. Studies have proven that the probability of converting an existing customer is 60 – 70%, whereas the likelihood of converting a new prospect is only 5 – 20%.
Marketing to existing customers not only offers a clear reduction in your ad budget, it also presents a chance to demonstrate your commitment to rewarding loyalty. A separate study conducted by Invespcro similarly concluded that it is much cheaper to retain a customer than to acquire a new one. This means that you are better of making your existing customers happy and make a second purchase then looking for a new one.
If you'd like to find out more on how you can improve your business strategies with digital marketing, you can reach out to Absolute Digital at +65 8892 1290 or drop us an email at email@example.com
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