Boosting Your Online Business: Strategy, Strengths, and Room for Growth with Audrey Wiggins

[00:00:03] Welcome to the Business Chop Podcast, where our guests speak on meeting the challenges of entrepreneurship, as well as offer tips and advice on business, marketing, technology, and more. Whether you are a newbie or seasoned professional, this episode is for you. I am your host, Audrey Wiggins.

[00:00:24] Let's chop it up.

[00:00:28] Hello, Chop Squad and friends. This episode, we're going to be talking about boosting your online business, strategies, strengths, and room for growth. If you have an e-commerce business or any other online enterprise, this episode is definitely for you. We'll dive into important topics around how you're promoting your business, whether you're open to fresh ideas, and the importance of knowing your strengths and weaknesses.

[00:00:56] So grab a pen or you're remarkable and that's not a commercial, and get ready to take notes on how to elevate your business.

[00:01:06] All right, first up, are you promoting your business? It is important to actively promote your online business. Just because it's online doesn't mean people are going to find it. You know the old adage, if they build it, if you build it, they'll come. Not necessarily so, especially in a crowded digital landscape.

[00:01:26] Some examples of digital marketing strategies are SEO or search engine optimization, social media marketing, paid ads, email marketing, and influencer collaborations.

[00:01:40] The importance of digital marketing strategies.

[00:01:42] The importance of a multi-channel promotion strategy. A lot of businesses make the mistake of focusing too heavily on just one promotion channel. Maybe they rely on Instagram ads or just email marketing, but consumers interact with brands across multiple platforms, and your business needs to be visible in more than one space.

[00:02:06] By leveraging several channels like social media, email, paid ads, and organic search, you increase your chances of reaching potential customers wherever they are.

[00:02:18] So first key point, while consistency in your brand's message is important, adapting that message to suit those different platforms is just as crucial.

[00:02:27] For example, what works on Instagram might not work for LinkedIn. Totally different.

[00:02:32] Take advantage of each platform's strength and promote your business consistently and with creativity is essential to your growth.

[00:02:43] Storytelling in promotion.

[00:02:45] Consumers today don't just want to buy products.

[00:02:49] They want to feel connected to our brands.

[00:02:51] This is where storytelling comes into play.

[00:02:54] Crafting a compelling story that resonates with your audience.

[00:02:59] The story could be about your founder's journey, the problem your product solves, or the unique values your brand represents.

[00:03:08] Key point on this, weave your story into your promotions across different channels.

[00:03:14] People are more likely to remember your brand if they feel emotionally connected to it.

[00:03:20] And storytelling helps build that connection.

[00:03:25] How are you promoting your business?

[00:03:28] There are various promotional channels, as we just talked about, including paid ads like on Google, Facebook, Instagram, organic reach, such as in blogging or just doing YouTube videos, and some partnerships.

[00:03:42] Which channels are you focusing on?

[00:03:45] I encourage you to reflect on your current promotion tactics and identify what's working and what could be improved upon.

[00:03:53] Social media advertising.

[00:03:55] What's working in 2024?

[00:03:57] It's almost over, so we're about to hit on 2025.

[00:04:00] But what's going on right now today?

[00:04:03] Algorithms are prioritizing engagement more than ever.

[00:04:08] So running ads isn't just about pushing sales, but about creating engaging, shareable content.

[00:04:16] Short form video content, for example, continues to dominate with platforms like Instagram and TikTok being the prime search spaces for ads.

[00:04:27] Key point here.

[00:04:28] When running ads focus on building a relationship first rather than jumping straight into the sale.

[00:04:36] Your ad could offer free resources or insights that lead consumers down a path toward eventually purchasing your product.

[00:04:45] So you want to remember that.

[00:04:47] Search engine optimization or SEO.

[00:04:50] SEO is one of the most sustainable ways to promote your business, but it requires consistent effort.

[00:04:58] It's not just about using the right keywords, but understanding search intent.

[00:05:05] What questions are your customers asking and how can your business answer them through content?

[00:05:13] Google's algorithms favor sites that prioritize user experience or UX.

[00:05:19] You may have seen that in some of your readings.

[00:05:22] This means faster load times, mobile friendly designs and high quality content that's easy to navigate.

[00:05:30] If your SEO strategy isn't delivering results, start by checking these aspects of your website.

[00:05:38] So are you open to new ideas?

[00:05:41] Business owners need to stay open to fresh ideas and a rapidly evolving digital space.

[00:05:50] Emerging trends like influencer marketing, podcast ads, interactive content like quizzes and polls and even AI tools for marketing.

[00:05:59] There can be tips about following industry thought leaders and sharing that content, attending webinars and joining communities.

[00:06:10] So some actual advice here for you would be to try at least one new promotional strategy this month.

[00:06:19] It could be as simple as setting up a newsletter or collaborating with a micro influencer.

[00:06:25] And we'll talk about that more in a little bit.

[00:06:27] So how are you leveraging AI in your marketing or are you even using it at all?

[00:06:33] So artificial intelligence is revolutionizing digital marketing.

[00:06:37] AI tools can help you automate email campaigns, personalize your product recommendations and even analyze customer data.

[00:06:45] And that helps you to better understand buying behavior.

[00:06:49] Your chat bots, for example, can engage with customers 24-7, helping with inquiries and driving conversions while you're asleep, perhaps.

[00:06:59] Or out on a vacation with your family.

[00:07:02] Key point here.

[00:07:03] Many businesses are hesitant to adopt AI due to the perceived complexity.

[00:07:09] However, tools like ChatGPT and Jasper, Claude, Copilot, they're becoming more user-friendly, enabling even non-tech savvy businesses to implement AI solutions.

[00:07:23] Micro influencers and collaborative campaigns.

[00:07:26] Let's learn more about that.

[00:07:28] So working with influencers has been popular for a while.

[00:07:32] But today, micro influencers with smaller, highly engaged audiences are proving to be extremely effective, especially for niche brands.

[00:07:43] Collaborating with micro influencers can help you reach a more targeted audience without the high costs associated with larger influencers.

[00:07:52] So how do you do this?

[00:07:54] You want to approach influencers who align with your brand's values and your audience.

[00:08:01] The authenticity of the partnership matters.

[00:08:04] And it matters more than your follower count.

[00:08:07] Always remember that.

[00:08:09] Now, we're going to dive into strengths and weaknesses after this announcement about our upcoming virtual business summit.

[00:08:16] And I hope to see you there.

[00:08:18] What will your business look like on January 1st, 2025?

[00:08:21] Join us for 60 days to success.

[00:08:25] It's the Elevating You Entrepreneur Business Summit, November 2nd, 2024.

[00:08:30] Visit bit.ly slash elevating you fourth quarter 2024.

[00:08:35] That's bit.ly slash elevating you the letter U, the number 4TH quarter 2024.

[00:08:43] We're back now and we're going to be talking about our strengths and weaknesses.

[00:08:48] First up, what are your strengths?

[00:08:50] What are you bringing to the table?

[00:08:52] I want to emphasize the importance of knowing your business's strengths, whether that's in customer service, product quality, unique branding, or effective communication.

[00:09:04] I want you to think about how to assess your business strengths through customer feedback, reviews, or metrics that you may get.

[00:09:14] How do you leverage your strengths to stand out in a crowded market?

[00:09:19] Pro tip, run a SWOT analysis.

[00:09:22] What are your strengths, weaknesses, opportunities, and threats?

[00:09:25] I know most of you have probably gone through some type of leadership trainings or business training.

[00:09:30] We always want to do the four quadrants there and outline what our strengths, weaknesses, opportunities, and threats are so we can get a clear picture of our situation with our business.

[00:09:43] So we want to build on whatever those core competencies are.

[00:09:47] So your strengths as a business might lie in your product, customer service, or even the unique user experience you provide.

[00:09:56] Leveraging these strengths in your promotional efforts is essential.

[00:10:00] For example, emphasize this in your ads or customer testimonials.

[00:10:06] That's another great idea there.

[00:10:08] So identify two to three key areas where your business excels.

[00:10:12] Then build marketing campaigns around those strengths.

[00:10:15] Not only will it highlight what makes your brand unique, but it will also attract customers who value those qualities.

[00:10:23] Leveraging strengths for partnerships.

[00:10:26] Strengths don't only help in marketing to customers.

[00:10:30] They're also vital when forging partnerships.

[00:10:32] If your business is known for sustainability, for example, you can collaborate with other eco-conscious brands or platforms.

[00:10:42] By aligning with partners who share your strengths, you not only expand your reach, but also reinforce your brand's identity.

[00:10:52] Partnerships should be mutually beneficial.

[00:10:55] Assess what strengths you bring to the table and look for businesses whose offerings complement yours.

[00:11:03] Now we're going to talk about the W, the weaknesses.

[00:11:07] What are your weaknesses?

[00:11:09] Critical topic recognizing and addressing weaknesses in your business.

[00:11:13] These might be inefficient processes, a lack of consistency in content, or even poor website performance.

[00:11:21] How are these weaknesses necessarily bad, or why are they necessarily bad?

[00:11:27] And what can you do to allow them to improve your growth?

[00:11:32] Some practical solutions for e-commerce business weaknesses, like improving website speed, for instance.

[00:11:39] Fine-tuning product descriptions or finding ways to streamline customer service.

[00:11:44] Offer resources or tools for improvement, like SEO tools, website performance trackers, or customer service solutions like chatbots.

[00:11:54] So we mentioned that a little bit ago.

[00:11:56] So we want to identify and address our customer pain points, right?

[00:12:01] Weaknesses can be anything that prevents your business from achieving its full potential.

[00:12:07] Again, it could be your website performance, or maybe it's a lack of personalization in your communication with customers.

[00:12:13] Identifying these pain points, either through customer surveys, reviews, or analytics, and help you fix them before they drive your customers away.

[00:12:23] Let's think about that.

[00:12:25] So analyzing reviews and feedback.

[00:12:27] Pay close attention to recurring themes.

[00:12:30] Use this information to address your weak points, whether it's improving your site, simplifying checkout processes, or responding to customer queries faster.

[00:12:40] Overcoming weaknesses through outsourcing tools.

[00:12:44] No business can be great at everything, and that's okay.

[00:12:49] Identify areas where you lack expertise is the first step to finding solutions.

[00:12:55] For instance, if your business struggles with social media management, outsource it to a marketing agency or hire a part-time specialist to save time and improve performance.

[00:13:06] Alternatively, there may be tons of tools that can handle weak points, like automating your email marketing or improving your accounting process.

[00:13:17] Yes, I brought the money thing up in there.

[00:13:19] All right.

[00:13:20] So we want to be strategic wherever we invest our time and our resources.

[00:13:24] And if certain aspects of your business is hindering growth, sometimes it's worth paying for external support to fix it.

[00:13:33] All right.

[00:13:35] So in conclusion, this is not a book report.

[00:13:38] It sounds like one, right?

[00:13:40] I encourage each of you to evaluate your business in a holistic way, okay?

[00:13:45] Reflect on the questions posed throughout this episode.

[00:13:49] Are you promoting effectively?

[00:13:52] Are you open to new marketing ideas?

[00:13:55] Do you know your strengths or weaknesses?

[00:13:58] I challenge you to write them down, your top strength, your top weakness, and one new promotional strategy you are willing to try in the coming week.

[00:14:10] Let me know how I can support you.

[00:14:13] And if you enjoyed today's episode, make sure you subscribe and leave a review.

[00:14:18] I really would appreciate it.

[00:14:20] And share us on social media.

[00:14:22] What's your biggest takeaway and what new ideas you are excited to implement in your business?

[00:14:29] Until next time, stay safe, open your mind, and get ready to bring it on these next 60 days so you can have an awesome new year.

[00:14:39] Thank you for listening to The Business Job.

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