Bring your local business online #2: Determine your business’ value-add and online goal
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Bring your local business online #2: Determine your business’ value-add and online goal


[MUSIC PLAYING] Hi, I’m Maile Ohye, and this is
the second video in our series to help local business owners
build an online presence. For this video, we’ll discuss
the preparation stage. Our objective is to
determine your value-add and clarify your online goal. First, how would you
answer the question, what’s your business’s
unique value-add? A value-add describes
why a customer would select your business
over the competition. What makes your
business special? For example, my cousin,
Scott, the Realtor, might emphasize his
high-touch approach with clients and his knowledge
of not only real estate but mortgages as well. Knowing your value-add
comes in handy during the implementation stage. As Scott creates
his Google+ profile, he’ll include his value-add–
Realtor dedicated to providing high-touch services in Campbell
and the South Bay Area. Extensive knowledge of all
steps to assist your home buying process. The next task in our
preparation stage is to answer the
question, what’s the goal of your
online presence? Answers from local
business owners usually fall into
three categories– the desire to increase revenue,
decrease costs or save time, or increase customer
satisfaction. We’ll just focus on the
most common goal, increasing revenue. Increased revenue often results
from reaching new customers or helping existing customers
become repeat customers by listing your hours
and contact information. However, as you become
more sophisticated online, your goals might also
include decreasing costs or saving time. For example, Scott
could make his resources available to clients
online so that he spends less time responding to
email and more time viewing properties. Or in the future,
your online goal might broaden to increasing
customer satisfaction. To increase satisfaction
online, Scott could publish an article that
would be helpful to clients, like “Five Biggest Mistakes
When Buying a House.” Or if short on time, Scott
could share an article written by someone else that he thinks
his clients would enjoy. With the goal of your
online presence determined, the next step is
to determine what action constitutes conversion. Conversions are the
actions a person performs to become a true customer. For Scott, online
conversion happens once a customer calls
him to set up a meeting or emails him for
more information. For my sister who
owns a jewelry store, conversion means a customer
walks through her storefront or buys goods online. Before we go any further,
to give this better context, let’s look at the
online customer funnel to visualize how
you can increase revenue. At the top of the funnel
there are potential customers visiting your business online. Next, a portion
of those visitors will engage with your business. A subset of those visitors
will notice the call to action. And a subset of
those will convert. Conversions accumulate
to increase revenue. At the bottom of the funnel
are your loyal customers who return to the funnel
and convert again. Looking at the funnel,
notice that we’ve completed this
video’s objective. We defined your online
goal– increase revenue– we determined your value-add,
and defined conversion. Later videos will
address or expand on the other stages
in the funnel to help your business online. In the next video,
we’ll discuss how to find potential customers
so that more visitors enter at the top of the funnel.

4 Comments

  • Websites By Vince

    In general I really enjoy these videos Google releases, but I have to disagree with their definition of "conversion". If you own a local business, someone simply calling you, setting an appointment, or walking into your store isn't a "conversion". True conversions for a local business owner happen when a prospective customer becomes an actual customer. In the example of your real estate agent (brother in law?) Scott, a conversion would be when a prospect signs an exclusive contract allowing him to sell their house and they become a client (assuming he's a seller's agent). For your sister's jewelry store, the conversion isn't someone simply calling her or walking into her business, but when that walk-in actually buys a piece of jewelry. There's hope that a phone call, meeting, or walk-in will convert in the future, but until that happens, they just consumed limited resources and remain a prospect. A good local marketer will teach them to add these prospects to a sales-pipeline for future efforts for conversion by getting their contact information. This is accomplished by signing them up for a email newsletter, getting a home address to send promotions, or a phone number for follow up conversations. If a small business measures his success with "conversions" that never actually converted (went from a prospect to a customer), then they are measuring success by something other than profits which are the only thing that makes a business successful. Hope this helps some local business owner!

  • Mobius Media Solutions

    I enjoy these videos. Whenever Google gives defined clarity to the actual rules and guidelines, it truly makes the end user experience greater for everyone. Thanks Webmasters!

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