MarketStar Blog | Articles (5)

Key Insights

• While many organizations have transitioned from hardware-based data storage systems to cloud services, cloud adoption is still at its early stage

• It puts immense pressure on cloud salespeople to make a successful pitch

• Selling cloud solutions requires a definite change in how you approach your prospects who are looking for service providers

• You must emphasize the value to the business and not the underlying technology

When speaking with enterprise buyers about cloud solutions, you may have faced the same set of questions, repeatedly. Questions about compliances, security risks, and guarantees. 

Those involved in selling cloud-based solutions faced numerous barriers. 

In fact, the odds are stacked against them with only 18% of B2B buyers viewing salespeople as their trusted advisors.

If your buyers don’t believe in you, it would be a mammoth task for you to sell cloud solutions. 

But more and more enterprises are opening up to the idea of introducing cloud software to their environments. 

In such a scenario, you must proactively anticipate their concerns and address them. If you don’t, then you end up losing high-paying and reliable enterprise customers to your competitors. 

So, you have got your work cut out for you when it comes to selling cloud computing services. 

In this blog, we break down the best tips that will help you deliver results, from gaining a larger foothold in the companies out there or simply expanding your footprints in your existing accounts. 

What are Cloud-based Solutions?

Cloud-based solutions are any applications that can be accessed with an Internet connection through a provider’s shared cloud computing framework. 

On a pay-for-use basis, enterprises can get access to as many resources as they require such as storage space, software, networks, and other on-demand services. 

Consequently, you have three types of cloud-based systems at your disposal: 

• IaaS- Infrastructure-as-a-Service allows enterprises to rent storage, networks, virtual machines, and other resources from a cloud service provider

• PaaS- Platform-as-a-Service provides companies with a “space” to build, deliver, test, and manage various apps. The goal is to help such organizations to focus on software development and not the underlying infrastructure

• SaaS- Software-as-a-Service refers to the delivery of cloud-based solutions. In this case, cloud providers host the app as well as the infrastructure

6 Effective Strategies for Selling Cloud Solutions

With the COVID-19 pandemic, digital business transformation has entered a more urgency-driven phase. 

The sudden shutdown of offices, educational institutions, and enterprises has increased the demand for cloud-based solutions and services.

The cloud landscape is continually evolving. According to a report by Research and Markets, the global cloud computing market size is expected to grow from $371.4 billion in 2020 to $832.1 billion by 2025.

Sales organizations that make the necessary adjustments to successfully navigate through will benefit from the ability to capitalize on the growing market opportunities.

Let’s walk through some of the most effective tips for selling cloud-based solutions.

1. Start Small

Start with helping your prospects choose applications that are right for them and deliver the value they are seeking in the short term. 

This is especially important if you are dealing with an enterprise that has no prior experience in cloud implementation. 

For organizations not born in the cloud, the decision to bring off-premises technologies into the fold can throw up some challenges. 

Most enterprises, at this stage, can run into an overdrive– establishing business cases, scoping the project, and formulating the approach– leading to the cloud program tumbling down. 

When selling cloud-based solutions to such enterprises, identify and address any implementation-related challenges. Once your prospect starts seeing value in the investment, it becomes easier for them to ramp up. 

2. Know the Language that Your Lead Follows

Technology can be confusing to understand. 

Shifting your messaging and working is the key to selling cloud services to small businesses. 

If you assume your lead doesn’t know much about technology, you might come off as condescending. Your lead might also get lost in your jargon and feel overwhelmed or confused. 

Making a successful pitch will be incomplete without listening to your leads. Find out more about the cloud services that they are currently using. Know more about how they manage their data. Ask a few questions and listen intently. 

This way you will get to know where they are, and you can start using their language. 

This will also make your sales pitch more conversational and authentic, allowing you to connect with your prospects on a deeper level. 

3. Position Yourself as the Innovation Partner

Enterprises have many trust issues with those selling cloud-based solutions. This is why it is crucial that you showcase your innovative side and how your offerings are a mark above the rest. 

Your prospect wants to get a hold over the state of cloud adoption. Helping drive innovation requires approaching your clients and prospects with an empathetic understanding of the entire landscape. 

You can make this happen by regularly publishing authentic content that is tangible and actionable, helping you to be a trusted partner who understands the industry. 

When you do land your meeting, don’t just tell them the key features of what you are selling but speak about the entire cloud ecosystem. 

In this way, you can build a more future-centric approach to selling your cloud computing services. 

4. Work with Different Team Members

You must pitch to different stakeholders across various departments. It is not just one person who decides if your services are the right fit for the enterprise. 

Instead of seeing each member as a new obstacle to overcome, use this process to win more stakeholders and convert them into advocates for your cloud solutions. 

Additionally, work with stakeholders at all levels of your prospect organizations. 

A middle manager might have more understanding of the space than you can imagine since chances are that they are the ones managing such services on a day-to-day basis. 

5. Tie it to Concrete Benefits

You might be dealing with someone who doesn’t have an IT background and has limited knowledge about the cloud. 

In such cases, it is important to mold the pitch to their experience or something they would understand. 

Your solutions should make way for a better employee experience since poor technological solutions can lead to lower productivity, higher disengagement, and increased turnover rates. 

60% of workers said that new software had occasionally or frequently frustrated them in the last 24 months, according to a report by Gartner. 

Even if you pitch to a prospect who isn’t tech-savvy, you can still highlight the dangers of losing the very employees who are.

6. Alleviate their Concerns on Security

Most enterprises are deeply concerned about cybersecurity, creating unique challenges for selling cloud computing. It makes the job trickier when almost 52% of IT decision-makers whose company uses cloud services agree that their data is more secure on-premises. 

So, try out your cloud solutions as a strategic shift in risk and not as an additional risk. The idea is to help them understand that they are essentially putting the risk factor in you by choosing your services. 

The Way Ahead

Selling cloud solutions involves many challenges, whether security, risk, cost and lack of trust. These challenges are one of the few reasons why cloud adoption is still in its infancy. 

However, this does not mean that you can’t employ some effective strategies to turn the landscape to generate better results. 

To succeed in selling cloud services, be prepared with new services, combinations, and customizations. 

Keep a plan ready, and you can do it too!

Key Insights

• Customer experience has become the top priority for businesses and the reason is simple: companies that focus on customer experience reduce churn and increase revenues.

• Effective customer success strategies offer a way to significantly improve customer experience

• An effective customer success strategy requires supporting your customer at every step in their journey to get the result they want. This begins even before the sale is made and sticking with them until they achieve their desired result

It’s no surprise because customer experience has taken center stage in the current business landscape. It has become one of the key differentiators for any brand. 

Improving customer experience should be your prime focus to make your brand stand out. 

When 74% of customers are somewhat likely to buy based on experiences alone, customer experience improvement can have a major impact on your bottom line. 

Considering the mounting need to improve customer experience, customer success has become more critical than ever. Although there are differences between the two, they are inevitably connected. 

The customer is at the heart of both disciplines—and each shares the objective of helping organizations understand customers better. 

Consequently, when you focus on customer success, you make progress in enhancing customer experience. 

7 Practical Customer Success Tactics to Improve Your Customer Success Program & Transform Your CX 

1. Build Buyer Personas

A staggering 90% of organizations are able to understand their customers better by using personas, with 82% of them having improved their value proposition. 

Buyer personas are often considered a marketing tool. 

It helps the marketing team figure out what potential customers are looking for. However, the same information can be used as a customer success tactic, creating an improved experience throughout the entire customer journey. 

With better personas, you know what your customers are going through, the problems they face, their communication preferences, their pain points, and so on. You can then tailor your interactions to suit them, and in the process, improve the customer experience. 

2. Personalized Customer Interactions

Twilio Segment’s The State of Personalization 2021 Report highlights that 60% of consumers will become repeat buyers after a personalized purchasing experience. 

The first step in personalization is identifying each customer’s unique goals. 

If your Customer Success Managers (CSMs) can show your customers that they understand the unique situations and desires of each individual, you will build a base of customers who want to stick with you in the long term. 

If a new feature can help your customer, have your CSM call that customer and talk to them about how it will specifically help their business. You can also send them an email congratulating them on an accomplishment that you saw in the news. 

3. Guided Onboarding

Onboarding is perhaps the most critical stage for any B2B company. 

You can smoothen out the shift from acquisition to onboarding by having internal operations involved during the last leg of the sales process. Similarly, your sales team can stay involved during the beginning of the onboarding stage. 

Remember, your client has shared a lot of useful information with your sales team and they are excited about their decision to work with you. You can help buyers by having one person oversee all onboarding activities and ensure that these are carried out in a timely manner. 

4. Proactive Outreach

Customer success takes a proactive approach. 

Your customers should have your solutions before they run into a problem. Thus, you need to get them the information they need before they ask for it. 

You can enhance your customer experience through proactive outreach.

A leading example of this type of approach is the welcome email series. You get these when you sign up for a free trial. Such emails include communications encouraging you to use the tool or service to its maximum potential. It might also contain tips on how to get the most out of the service. 

Take this approach a notch higher by letting your customers know about industry trends, and even, changes to your products. 

5. Chase the “A-ha” Moment 

It will be rare for any customer to immediately understand the value of your product. 

But you don’t have to wait around for them to figure it out. Actively showcase your best product features during the onboarding process and work with them through its implementation. 

Don’t forget to have a full grasp of your customer’s expectations in order to successfully chase their ‘a-ha’ moment. It will be advantageous if you can anticipate their needs at every stage of their engagement. 

6. Make Use of Educational Content

Educational marketing materials like eBooks, case studies, and others can help you bring in leads and at the same time drive solid returns. 

Publishing educational materials about your product and its features should be a part of your customer success strategy. When you post content about issues your target audience deals with daily, you establish a stronger relationship and pave the way for brand loyalty, even before they become your customers. 

Later, this will help you not just minimize any potential roadblocks people might find themselves in when using your product, but it will also create a more user-friendly customer experience in the long term. 

7. Get Feedback

It is easy to get caught up in high-tech tools that monitor keyword searches and web metrics. But an effective feedback system can be as simple as asking your customers what they need. 

Once you have collected all the feedback, you’ll need to implement changes before customer churn becomes a problem. 

Furthermore, training and offhand conversations can be excellent routes to get a better understanding of the gaps in your product, thereby helping you to enhance and deliver a superlative customer experience.

Final Thoughts

While each company has a different journey, it’s vital to commit yourself to customer success. 

You can start by implementing any of these strategies with the relevant adjustments and necessary tweaks. 

The entire customer lifecycle benefits from a customer success mindset. And when you start making improvements, you will see a marked difference in how your customers are benefiting from your product or solution. 

Key Takeaways

• 2022-23 marks the transition to a post-COVID situation powered by artificial intelligence and automation.

• B2B sales prospects are rapidly gaining ground thanks to sales outsourcing and the use of CRM applications.

• Lead generation is as crucial as managing existing customers through personalized design campaigns. 

• Content diversification combined with SEO optimization will continue to improve user experience. 

Introduction

Business analysts and entrepreneurs around the globe resonate with Darwin’s theory of biological evolution by natural selection.

They believe that, like a species, business development undergoes a gradual descent with modification to create long-term value. But how can business enterprises thrive without sales?

Businesses that sustained their operations even after the global pandemic relied heavily on technological innovation. Management consulting firms like McKinsey suggest that COVID-19 has indeed transformed B2B sales.

The introduction of remote human engagement has unarguably multiplied even after situations have improved.

This article discusses the top 10 sales trends that will define the evolving sales landscape.

10 Key Sales Trends to Look Out for in 2023

The new year brings an array of hope, especially for B2B sales prospects.

A shift to virtual or hybrid sales strategies suggests that automation and artificial intelligence tools play a major role in reshaping the sales scenario.

Below are some key B2B sales trends that will help exceed sales targets and quotas in 2023. 

1. AI Adoption

In 2023, AI adoption is expected to become a major trend in the sales industry.  

With the rapid advancement of technology, businesses are looking to automate repetitive tasks and improve their sales processes with the help of AI.  

AI-powered chatbots are becoming increasingly popular to interact with customers and generate leads, while machine learning algorithms are used to analyze customer data and predict future sales. Additionally, AI-enabled sales assistants are helping sales reps to identify and prioritize the best leads, and even automate some aspects of the sales process. 

Companies are making better sales decisions by using AI-powered tools like Nytro.ai to help train and assist sales reps in all aspects of their job, from initial training to ongoing skill development and make better sense of the collected data and leveraging the same to boost B2B sales performance. 

2. Outsourcing Sales

Experts believe that a lack of expertise in B2B sales causes a sharp fall in lead generation.

Many companies engage their account executives in cold calling which is not cost-efficient and can cause scalability issues. Yet numerous businesses often stumble upon a fundamental question – ‘Is sales outsourcing accountable?’

The post-pandemic business situation shows that companies can reap profits despite budget or resource constraints by simply outsourcing their sales processes.

Outsourcing enables your business to improve its sales prospects through symmetric communication and continuous evaluation. The primary objective of sales outsourcing is to identify the ideal product/market fit.

In other words, outsourcing helps businesses realign with their go-to-market strategy thereby prompting salespersons to focus on strategy making. Sales outsourcing guarantees the successful attraction of prospects through specialized sales enablement tools like CRM and sales intelligence software applications.

3. CRM Tools That Matter

What if an emerging business is told that it can handle customer data, automate sales processes, and promote inter-departmental collaboration all in a single platform?

An average business can boost productivity by approximately 34% using a Customer relationship management (CRM) platform.

Moreover, CRM platforms can reduce the sales cycle by 8-14% by making customer data more accessible. CRM platforms help businesses target the right customers, especially for B2B sales and present a bird’s eye view of the potential leads and prospects.

As of 2022, CRM tools have caused a 30% increase in lead conversions and established more sustainable relationships.

4. Boosting Sales Prospects Through a Personalized User Experience

Nothing boosts business revenue more than a positive customer experience.

The post-Covid B2B journey has been highly nonlinear and without a definite personalized approach, surviving this volatile and competitive market is practically impossible.

A personalized user experience can be an effective way to boost sales prospects.

By collecting data on customers and using it to tailor the user experience to their specific needs and preferences, businesses can increase customer engagement and loyalty. Personalization can take many forms, such as recommending products based on browsing history, offering personalized discounts, or providing personalized customer service.

In addition, personalization can also improve the overall user experience by making it more efficient and enjoyable for customers to find what they are looking for.

Personalization can be implemented through a variety of technologies, including machine learning and artificial intelligence. By providing a personalized customer experience, businesses can increase customer satisfaction and ultimately drive more sales. 

5. Automation 

Nobody could have ever imagined the emergence of an ‘autopilot’ mode in a vehicle before Tesla introduced one.

Automation in technology has led to a drastic reduction in human intervention and finds application in factories, aircraft, and even electronic networking. But can automation fit into your B2B sales process

Statistics show that more than 40% of leading sales leaders have utilized automation in their sales pipeline by successfully interpreting market data.

An analysis by McKinsey shows that automation can find applications in at least 30% of all sales activities. Experts consider automation to be the guiding star of sales pipeline management and sales tracking activities including forecasting and sales analysis. 

6. Lead-Nurturing 

Experts believe that businesses cannot succeed in raising enough brand awareness until they nurture their leads.

Lead nurturing can not only generate more sales but also minimize costs by up to 33% through automation and creating targeted campaigns. Moreover, it helps develop and retain relationships at each sales funnel stage.

Lead nurturing programs can increase brand awareness and increase click-through rates.

A common lead nurturing technique is to send personalized messages to potential customers and encourage them to interact with your business. This can result in a 23% fall in sales cycles and higher response rates.

Lead nurturing is crucial if you want to survive in a competitive market and not be among the 65% of marketers who miss out on potential opportunities. 

7. Content Diversification

Content diversification is becoming an increasingly important trend in sales as we move into 2023.

This approach involves creating and distributing a variety of different types of content across multiple channels and platforms, in order to reach a wider audience and engage with potential customers in different ways.

Some of the key types of content that businesses are using for diversification include videos, podcasts, blog posts, social media updates, e-books, and infographics.

By diversifying their content, businesses can appeal to different segments of their target market, increase their visibility and reach, and ultimately drive more sales.

Additionally, this trend also helps to ensure that businesses can adapt to the ever-changing consumer needs and behaviors, that they are constantly providing new, fresh and relevant content to their audience.

Overall, content diversification is quickly becoming a must-have strategy for businesses that want to remain competitive and see continued growth in the sales landscape.

8. Role of SEO

Search engines like Google use over 200 factors to determine the progress of your online content and simple techniques like targetting the right keywords, on-page optimizations, and more can improve your search ranking by leaps and bounds.  

Hubspot reports that intelligent SEO techniques can boost content marketing by 75%. Yet, staying ahead in the Google algorithm is not enough.  

Organic research drives more than 50% of website traffic, which can be converted into successful leads. Statistics show that more than 70% of all purchasing research happens online.  

Thus, a successful sales conversion requires an SEO-optimized content strategy that appeals to the audience and restores a company’s reputation. So, if you want organic traffic in 2023, focus on creating content that delivers value and is optimized for voice search along with adding visual imagery for increased engagement.

9. Adopting Trustworthy Selling Strategies

Statistics show that most sales teams spend 64% of their time doing non-selling tasks like training, traveling, or any other task that hinders their sales progress.

Moreover, you can lose up to 12% of your annual revenue as a result of making strategies with inaccurate data. Revamp your selling prospects this year by designing selling strategies that actually work!

Business experts from the University of Minnesota suggest that there are four major selling strategies that you can adopt.

A script-based strategy uses a standardized sales pitch while a needs-satisfaction based strategy identifies a potential problem and aims to make personalized sales pitch. You may also consider a consultative selling strategy that uses special expertise to solve a complex issue while a partnership-based strategy involves a collaborative effort between you and your potential client.

Choosing the right sales strategy generally begins with identifying an approach followed by handling and implementing the same depending on customer requirements.

10. Manage Your Existing Customers

While devising strategies to generate high-quality leads surely work in your favor, you always run the risk of losing your existing clients. Reaching out to your existing customers is a valuable resource that can improve your branding and generate more revenue this year.

Data reveals that there is a 5-20% chance of generating a new sales lead while the probability of catering to existing customers is about 60-70%. On average, the customer retention rate is generally below 20% for most businesses.

In short, existing customers help strengthen your base by saving valuable time spent on promotion and marketing. Put stress on design campaigns that maintain your existing customer relationships and outperform your competitors. Online interactions and exclusive offers specifically for existing customers further add to your cause.

Conclusion

‘Growth and comfort do not coexist.’

Hubspot reports that 40% of businesses failed to meet their sales goals during the pandemic.

An even higher number of them barely managed to continue operations after that. With a sharp decrease in consumer demand, sales budgets stiffened despite technology being a major disruptor.

Despite those negativities, 2023 shines brighter, especially for companies looking to revamp their sales prospects. Stop shoving deals that can backfire; adopt measures that are sustainable.

Key Takeaways

• Some businesses not only survive recessions but grow during unfavourable times.

•  According to a survey by Nationwide, 70% of business owners expect a recession within the next few months, but very few are prepared to weather it.

• The best way to help your business continue to scale regardless of the state of the economy is to prepare far enough in advance. 

• Examining your expenses closely is one of the best ways to prepare your company for a recession.

There are always ups and downs in any business. During the good times, it is important to make sure that you are prepared for the bad times, meaning you must have a plan in place for when the economy takes a turn for the worse.

Choosing the right growth strategy during less turbulent times is one of the best ways to scale your business should it hit a recession. This will ensure that your business can weather the storm and come out of it unscathed.

Nevertheless, it’s never too late! With a recession looming over the horizon, if you don’t already have a backup plan, keep reading to learn more about choosing a growth strategy that will help you during a recession. We will also provide tips on implementing these strategies in your business. 

Why Scaling Your Business During a Recession is Important?

According to the NBER (National Bureau of Economic Research), a recession is defined as a significant decline in economic activity that’s spread across the economy.

When scaling a business, many entrepreneurs think it’s best to wait until the economy is doing well. But in reality, scaling during a recession can be an excellent opportunity for businesses to grow.

For one, there are often more talented workers available during a recession.

With more people out of work, businesses have a larger pool of top talent to choose from. And since many businesses are scaling back during a recession, there’s often more room for companies still growing.

In addition, recessions can create new opportunities for businesses to expand.

For example, during the last recession, many businesses closed their doors. This created opportunities for companies that were able to move into those markets and fill the void. Additionally, recessions can also cause a shift in consumer spending. This can create opportunities for businesses that can offer goods and services that meet the new demands of consumers.

While recessions are undoubtedly challenging for businesses, they can also present new growth opportunities. Businesses that can identify and take advantage of these opportunities can emerge from the recession stronger than ever.

Businesses that scale during a recession are more likely to survive and thrive long-term.

Here are a few key reasons why scaling your business during a recession is important.

• It allows you to take advantage of lower costs

• It gives you a chance to build up your reserves so you can weather any future downturns

• It sets you up for long-term growth as the economy recovers

So if you’re thinking about growing your business during the current recession, there are plenty of good reasons to do so. Always do your homework, plan carefully, and seek expert guidance.

The Challenges of Scaling Your Business During a Recession

Economic downturns have been hard on businesses of all sizes. 

Many companies have been forced to lay off staff, slash expenses, and generally tighten their belts during a recession. Around 58% of business owners have explored areas to cut expenses in the last two quarters. 

A recession always puts a lot of pressure on businesses to scale back. But what about businesses that are trying to grow during this time? The challenges are even more significant for them – they need to keep evolving to survive and thrive. 

Scaling a business during a recession can be difficult for several reasons.

First, there is less money available for investment. This means companies must be extra careful about how they use their limited resources. They also must be more creative in their growth approach, as traditional methods may no longer be viable.

Additionally, customers may be less likely to spend money during a recession, so businesses must find ways to reach them and convince them to purchase their product/service.

So how do you scale your business during a recession? It’s possible to grow a business during a recession, but it does require the right growth strategy.

The key is to focus on efficiency and profitability. You need to find ways to do more with less and to get the most out of every penny you spend.

This may require making tough decisions, but it is possible to scale your business and increase sales during a recession if you are strategic about it.

How to Overcome the Challenges During a Recession?

The challenges can seem insurmountable for businesses that are trying to scale during a recession. But it’s important to remember that recessions don’t last forever, and there are ways to overcome the challenges and come out ahead. 

Here are a few tips to overcome the challenges and scale your business during a recession: 

– Diversify your revenue streams: Don’t rely on one income source. Diversify your revenue streams to cushion the blow if one dries up. 

– Cut costs: Take a close look at your operating expenses and see where you can cut costs. This will help you stretch your resources further.

– Preserve your cash flow: Cash flow management is one of the most important aspects of surviving a recession. Keep at least three to six months of expenses in an emergency cash fund. 

– Look for opportunities: Think of innovative offerings or loyalty programs that you can promote to expand or diversify your brand without increasing business expenses.

The Right Growth Strategies During a Recession

Here are some top strategies for growing your business during a recession. By following these strategies, you can give your business the best chance to succeed. 

1. Increase your marketing efforts: Businesses need to work harder to reach potential customers during a recession. You can increase your marketing budget and use more creative marketing strategies.

2. Focus on customer service: Receiving positive reviews and word-of-mouth marketing can be more important than ever during a recession. So, offer your customers top-notch service during these tough times. 

3. Focus on existing customers: During a recession, people are more likely to stick with brands they know and trust. So, make sure you’re giving your existing customers the best possible experience. Customer retention during a downturn can be achieved by value-added services such as discounts or loyalty programs. 

4. Look for new markets: A recession can open up new markets that were previously unavailable. So, if you’re looking to expand your business, this is a great time to do it. 

5. Don’t forget your employees: They are your most valuable asset, so invest in their development. Investing in your loyal employees will position your company for success even during a recession.

Conclusion

Recessions are challenging for businesses, but with the right growth strategy, you can continue to scale your business.

This article provided an overview of why scaling your business during a recession is important and the five main growth strategies.

Businesses should carefully consider their options and choose the right strategy.

To learn more about how to scale your business during a recession, get in touch with our experts. 

Key Takeaways

• AdTech and MarTech companies need to implement several business growth strategies in 2023

• To be successful in marketing and digital advertising, companies need to invest in AdTech and MarTech

• Artificial intelligence will play a key role in both AdTech and MarTech in the years to come

• AI will help businesses automate repetitive tasks, freeing up time for more strategic work

The advertising and marketing industries have been evolving rapidly in recent years.

With the rise of new technologies, the way businesses reach and engage with their target audiences has changed significantly. 

AdTech and MarTech companies continually look for new ways to reach and engage their target audiences. In 2023, there will be several new business growth strategies that these companies can use to stay ahead of the competition. 

Some of the most popular business growth strategies for AdTech and MarTech companies include using data to drive decision-making, investing in customer experience, and using AI and machine learning to automate processes.

To learn more about these business growth strategies, read on!

The Increasing Importance of AdTech & MarTech

AdTech has become increasingly important in the world of marketing and advertising of late. 

The growing popularity of digital advertising has made AdTech an essential tool for reaching and engaging consumers. 

AdTech allows marketers to target consumers more effectively, track the performance of their campaigns, and measure the ROI of their advertising spend. 

In other words, AdTech is essential for anyone who wants to be successful in digital advertising. Several different AdTech platforms and solutions are available, each with its own strengths and weaknesses.  

Choosing the right AdTech platform for your business can be challenging, but it’s worth taking the time to find the one that best suits your needs. 

As AdTech continues to grow in popularity, it is becoming increasingly important for companies to understand and invest in it. Those who don’t may find themselves at a competitive disadvantage. 

Marketing was essentially a manual process in the past. But with the advent of new technologies, marketing has become much more data-driven and scientific. As a result, MarTech has become an essential part of the marketing process. 

Many MarTech tools are available, from customer relationship management (CRM) software to marketing automation platforms. And as marketing continues to evolve, the importance of MarTech will only continue to grow. 

So if you’re a marketing professional, it’s essential to familiarise yourself with the world of MarTech. By doing so, you’ll be able to stay ahead of the curve in the marketing industry.

5 Effective Business Growth Strategies for 2023

As we move into the new year, it’s time to start thinking about your company’s growth strategy for 2023. 

And if you’re in the AdTech or MarTech industry, you’ll need to be prepared for the ever-changing advertising, marketing, and technology landscape. 

To help you get started, we’ve put together a list of AdTech and MarTech growth strategies. From new platforms to new strategies and trends, these are the things you’ll need to keep an eye on in the coming year. 

1. Zero-Party Data Gathering

In 2023, gathering zero-party data will become the norm for businesses and organizations across the globe. Zero-party data is data that an individual willingly and knowingly provides. This data is often used to improve customer experiences and target advertising. 

The rise of zero-party data gathering will be driven by the increasing need for businesses to personalize their products and services. 

In a world where customers can choose from various options, businesses must find ways to stand out from the competition. By gathering and using zero-party data, businesses can better understand their customers and provide them with a personalized customer experience.

2. Make Sure You’re on The Right Platforms

Advertising is constantly evolving, and new platforms are constantly emerging. 

To stay ahead of the game, you must ensure you’re advertising on the right platforms. Keep an eye on the latest trends and ensure you’re present on the platforms your target audience uses.

3. The Need to Become Video-First

Most companies today have started creating bite-sized videos, such as Instagram reels and TikTok videos. These help them increase engagement among millennials.

The average user spends about 88% more time on a website with video content and is 64% more likely to purchase a product after watching a video about it.

With these statistics in mind, it’s no wonder that so many companies are switching to becoming video-first.

By 2023, it is estimated that 80% of all internet traffic will be video traffic. If your company needs to produce video content, you must start doing so ASAP.

4. Artificial Intelligence in AdTech

In 2023, artificial intelligence (AI) will continue to play a significant role in the AdTech industry. 

With the help of AI, AdTech companies will be able to target ads more accurately, personalize the user experience, and track engagement. AI will also help improve ad campaigns’ efficiency, reducing the cost of advertising for businesses. 

With AI becoming more sophisticated, the future of the AdTech industry looks bright as it will continue to grow and evolve. We expect to see more AI-powered AdTech products and services in the coming years.

5. Artificial Intelligence in MarTech

In 2023, AI will be deeply embedded in MarTech. It will touch on every aspect of marketing, from customer segmentation and targeting to content creation and distribution.

AI will help marketers automate repetitive tasks, freeing time for more strategic work. It will also provide real-time insights that will help marketers make better decisions.

And, as AI gets better at understanding human behavior, it will become increasingly adept at creating personalized experiences that drive engagement and conversions.

Growth Awaits in 2023

The AdTech and MarTech industries are forecast to experience significant growth in 2023. 

Companies that want to take advantage of this growth should consider adopting key strategies, such as developing innovative products, expanding their customer base, and investing in new technologies. 

If you’re interested in learning more, fill out the form and let’s connect to help you grow your business today!

The way we sell today is being shaped by the evolving customer journey, technological advancements, and changes in customer behavior. Additionally, sales processes differ from one business to another, and so do the terminology and data management practices associated with them. At MarketStar, we fully comprehend these dynamics and possess the adaptability to align with and enhance our clients' processes through our proven and reliable practices. We bring our expertise to every task, seamlessly integrating our teams into our clients' organizations. However, occasionally we encounter minor inaccuracies that, despite their size, can significantly impact our efforts.

Key Takeaways

Research has proved that influence is the foundation of selling. It is what inspires others to take an idea seriously and act on it. Information alone will rarely persuade someone to act. (If it could, then salespeople would be unnecessary.) Rather, what moves people is how that information is presented and who presents it to them. As neuroscientist Gregory Berns explains, “A person can have the greatest idea in the world—completely different and novel—but if that person can’t convince enough other people, it doesn’t matter.” Source: Hoffeld, David. The Science of Selling (pp. 4-5). Penguin Publishing Group. 

Growth mindset is the belief that intelligence can be developed. It is contrasted with a fixed mindset: the belief that intelligence is a fixed trait set in stone at birth. A fixed or growth mindset may shape adaptive behaviors, acceptance of virtual selling tools, confidence recovery following failures, as well as the effectiveness of product marketing campaigns. People with a fixed mindset are more likely to seek products and brands in line with their goals to burnish their self-image and demonstrate their positive qualities, while people with a growth mindset seek products that help them pursue their goals to improve and learn new things. (Dweck, 2018) 

In the world of digital advertising, achieving sustainable and profitable growth requires a strategic approach suited to various stages of business maturity.  Identifying the stage you’re in and its corresponding challenges and goals will allow you to make informed decisions and choose the right partners to help you accelerate your growth.

Let's explore the maturity levels of digital advertising operations and highlight their unique characteristics to help you find out the stage you're in and ways to level up faster and more efficiently. 

Key Points

• Inefficient Ecommerce operations can lead to higher costs, reduced profitability, and increased competition from more efficient rivals. 

• Advancements in Ecommerce technology, such as AI and machine learning, are enabling businesses to provide more personalized customer experiences and drive sales.

• MarketStar’s customized Ecommerce solutions enable businesses to scale their operations without compromising customer experience.

Introduction

With increasing numbers of consumers turning to online shopping post-pandemic, digital shopping has experienced a paradigm shift. Forbes reports that an estimated 24% of retail purchases will occur online by 2026.

However, most SMBs find it difficult to deal with continuous fluctuations in consumer behavior, technological transformations and the economy.

As companies expand their online presence, they often lack the resources or expertise to manage all aspects of Ecommerce. This is where outsourcing comes in, providing businesses with the flexibility and support they need to succeed in Ecommerce.

This article focuses on the benefits of Ecommerce outsourcing and how businesses can focus on their core competencies while benefiting from the expertise and experience of a dedicated Ecommerce partner through outsourcing.

The Benefits of Ecommerce Outsourcing

Ecommerce is well-suited for outsourcing due to the ease of remote collaboration and communication and the extensive use of cloud-based systems by Ecommerce enterprises. Here are a few reasons businesses choose outsourcing to optimize their operations and boost productivity. 

Leverage Expertise to Minimize Expenses

Outsourcing Ecommerce operations can help businesses reduce costs associated with staffing, infrastructure, technology, and other overhead expenses. By outsourcing, businesses can benefit from the economies of scale of a specialised service provider, who can leverage their expertise and resources to offer cost-effective solutions. 

The business messaging application Slack outsourced their product design team to successfully launch their application from the beta version, thus slashing costs and garnering more investors.

Scaling Business Operations

When a business outsources its Ecommerce operations, it can leverage the expertise and resources of a third-party provider to quickly and easily expand its capacity to handle more orders, customers, and sales. This can include everything from order processing and fulfilment to customer service and technical support. The outbreak of the pandemic saw a boom in Ecommerce operations, and numerous SMBs scaled their operations quickly.

As of 2022, 17% of outsourced enterprises believe that organizations choose outsourcing part of their operations for scaling. By setting up manufacturing and assembly units in the US and Southeast Asia, Apple has managed to outsource their supply chain and concentrate on product design and scaling. By treating outsourcing as a mutually beneficial relationship, Apple meets its rising consumer demand, thereby easing its production costs.

Focus On Core Competencies

One of the most significant benefits of Ecommerce outsourcing is the ability to free up valuable resources and personnel to focus on what they do best. By outsourcing non-core tasks such as order processing, inventory management, and customer service outsourcing, businesses can reduce their operational workload, allowing them to concentrate on their core competencies, such as product development, marketing, and sales.

By outsourcing AdWords support and development of Project Ara to tech service providers worldwide, Google could concentrate on its core operations.

Improve Customer Experience

Poor customer experience has forced 89% of consumers to discontinue relations with an Ecommerce business. Providing a seamless and exceptional customer experience is paramount in today’s highly competitive Ecommerce landscape. However, managing all aspects of the customer journey, from website design to order fulfilment and customer service, can take time and effort for businesses. This is where Ecommerce outsourcing can play a critical role in improving the customer experience. By outsourcing certain Ecommerce functions to a specialized third-party vendor, businesses can tap into the expertise and resources of the vendor to enhance the customer experience. 

For instance, outsourcing customer service to a vendor with experienced and knowledgeable agents can provide customers with a responsive and helpful support team. This can lead to increased customer satisfaction, loyalty, and positive word-of-mouth recommendations. Similarly, outsourcing website design and development to a vendor focusing on user experience (UX) can result in a more intuitive and user-friendly website, increasing customer engagement and conversion rates. 

How MarketStar Can Help

MarketStar is a leading provider of Ecommerce outsourcing services, specializing in partnering with Ecommerce establishments to optimize their operations and deliver outstanding customer service. With extensive experience working with clients across multiple industries, MarketStar understands the unique challenges that businesses face in the competitive Ecommerce landscape and come up with tailored solutions for effective results. 

MarketStar prioritizes efficiency and effectiveness in all aspects of their operations. 

`MarketStar’s multichannel strategy ensures that their clients’ customers can reach them through their preferred channels, while MarketStar’s multilingual customer support teams are available around the clock to provide assistance in multiple languages and time zones. MarketStar’s seasonal staffing model allows for optimal scalability without incurring additional expenses. 

MarketStar’s research reveals that Ecommerce platforms suffer from issues such as

• Dealing with customer expectations especially during peak seasons.

• Dealing with customers from different time zones and geographic locations. 

• Balancing cost-effectiveness and operational efficiency.

Choosing the Right Ecommerce Outsourcing Partner 

When it comes to Ecommerce outsourcing, choosing the right partner is essential for businesses looking to streamline their operations and improve their bottom line. However, selecting the right Ecommerce outsourcing partner can be a daunting task, with many factors to consider. Here are some key points to note while choosing the right partner to outsource essential operations: 

Expertise and Experience 

When choosing an Ecommerce outsourcing partner, look for a company with a proven track record of success. This means finding a vendor with years of experience in the industry and a portfolio of clients that are like your business. The vendor should have deep expertise in your Ecommerce needs, such as website design, development, order fulfilment, and customer service. A partner with expertise in your industry will also bring valuable insights and best practices that can help you optimize your Ecommerce operations. 

Scalability and Flexibility

Your Ecommerce needs will evolve as your business grows, and you will require more support from your outsourcing partner. Therefore, choosing a vendor that can scale its services to meet your changing needs is essential. The vendor should also be flexible enough to adapt to your business needs and should be able to customize its services to meet your unique requirements. This will ensure that your outsourcing partner can grow with your business and meet your long-term goals. 

Data Security

Data security is a crucial factor to consider when choosing an Ecommerce outsourcing partner. The vendor you choose should have strict data security protocols in place to protect your sensitive information and that of your customers. The vendor should comply with all data protection laws and regulations and have certifications which ensure the safe handling of payment card data. Look for a vendor that can provide you with transparency and visibility into its security measures and certifications. 

Cost-Effectiveness

Outsourcing should provide cost savings for your business. However, it is essential to consider the overall value that the outsourcing partner can provide. The vendor should offer transparent pricing and no hidden costs, with a clear understanding of the services and resources included in the pricing. Compare pricing and services from multiple vendors to ensure you get the best deal. Remember that the cheapest option may not always be the best, and a partner offering high-quality services may be more cost-effective in the long run.

Communication and Collaboration

Clear communication and collaboration are essential for a successful outsourcing partnership. The vendor should have a responsive and transparent communication strategy and should be available to assist you with any questions or concerns. Look for a partner that offers a dedicated point of contact or project manager to ensure clear and effective communication. Additionally, the vendor should be collaborative, working closely with your business to ensure that your outsourcing strategy aligns with your overall goals and objectives. 

Technological Advancements

An ideal outsourced partner offers access to technological advancements as part of their Ecommerce outsourcing services, allowing businesses to leverage the latest tools and technologies for improved efficiency and customer experience. When choosing an outsourcing partner, businesses should consider their expertise in Ecommerce technology, ability to innovate, and willingness to stay up-to-date with emerging trends and technologies. 

Customer Service

Finally, choose a partner that values customer service. The vendor should have a dedicated support team to assist with any issues or concerns. Look for a partner that offers 24/7 support, ensuring you can always reach out for help when needed. The vendor should also proactively identify and address issues, ensuring that your Ecommerce operations run smoothly. Consider reading customer reviews or testimonials to gauge the vendor’s level of customer service. 

Conclusion

According to a survey conducted among executives, 96% acknowledged outsourcing providers as the primary source for developing data and analytics capabilities. 

MarketStar, a leading provider of Ecommerce outsourcing services, offers a unique value proposition that can help businesses thrive in the Ecommerce space. Achieving a 95% average customer satisfaction rate (CSAT%), MarketStar’s team of Ecommerce experts can assist businesses with everything from website development to digital marketing, content creation, and data analysis. 

MarketStar’s unique value proposition can help companies thrive in the highly competitive Ecommerce landscape. By partnering with MarketStar, businesses can access specialized expertise, customized solutions, and the latest Ecommerce technologies to achieve their goals and drive revenue growth. 

Introduction

There is no doubt that the rise of AI tools in sales has the potential to revolutionize the industry. And whether we love it or not, AI is here to stay for a while. It appears that the majority of high-performing sales organizations (57%) are using the technology to improve internal processes and customer experience and studying Salesforce’s “State Of” Report proves that this number is on the rise.

The capability for AI to transform the sales industry is vast, and its adoption is only set to increase. As businesses become more data-driven and customer-centric, there is an increase in the need for AI tools to manage and analyze customer data in real-time. And with the market for AI software expected to reach $37 billion by 2025, there is no doubt that the sales industry will be a major driver of this growth. However, the potential of AI extends far beyond what we have seen so far. As the technology continues to evolve, we can expect to see even more innovative applications emerge, from complex predictive sales analytics to even more developed automated customer service. Today, with Open.ai’s Chat GTP writing page-long text in seconds and algorithms inventing drug molecules to cure OCD, the array of AI capabilities seems endless, and so do the opportunities to leverage artificial intelligence.