What is Digital Business Fortification? (and what it isn't)
What it's not: It is not a get rich quick scheme. It's not a fairy tale business "secret" with which you can chill all the time and still grow your business online.
What it is: In a nutshell, Digital Business Fortification is an online business strategy, sales, and a digital marketing guide to help your business achieve long term success and increase your online leads, calls, sales & profits exponentially.
Important Note: Digital Business Fortification program requires a great deal of hard work and dedication from your side. You or your team will have to put in the hours consistently to get the results sustainably in the long run. If you or your team can't put in the hours, it's highly recommended to hire an expert digital marketing agency to do most of the heavy lifting for your company.
Digital Business Fortification is a process of digitizing a startup or a business to grow its online presence and overall leads, sales, and revenue.
While digitizing a business, most people tend to overlook an extremely important aspect of successful longterm digitization.
Along with other digitization aspects like web development, SEO, PPC, etc, Digital Business Fortification also addresses this fundamental business requirement that small and medium-sized businesses tend to overlook while digitizing their business.
Addressing this fundamental requirement (which will be discussed later) will help your business grow exponentially. Effective implementation of a digital business fortification guide will help you get 3X-10X more revenue, get more customers, and fortify your business in the market.
Most common problems faced by SMB's
Most SMB's get very less traffic or very low-quality traffic to their website, stores, clinics etc. Whether you are acquiring traffic online or offline, through search results or through social media, nothing seems to fit your traffic acquisition budget, but traffic probably isn't what's stopping your business from growing.
Conversions are the next most common problem faced by SMB's. Converting cold traffic to subscribers, subscribers to fans and finally fans to loyal customers. Tweaking your conversion process is not going to help you because conversions aren't usually what is stopping your business from growing.
A lot of businesses are stuck with the same stagnant revenue year after year. It seems like your business has hit the ceiling of it's growth trajectory. Scaling can be done by getting more traffic and getting more conversions by spending more money on ads, but all this doesn't seem to fit your budget and is also not very reliable.
The Real Problem
In our experience as business strategists and digital marketing experts, traffic and conversions are not the issues that are stopping your business from growing. The real underlying problem is much bigger than traffic or conversions, we call it The Iceberg Problem.
Our goal in the Digital Business Fortification process is to help startups and small businesses to grow into successful big companies. We accomplish this by fixing a simple but fundamental problem. As said earlier, we call it “The Iceberg Problem”. Fixing the Iceberg Problem will help businesses overcome competition and fortify themselves in the market.
The Iceberg Problem:
Most of the businesses or startups are inspired by other businesses & startups in one way or another. When an entrepreneur comes across an opportunity or an idea, he/she thinks of ways it can be improved or of ways it can be replicated in a different country, city, locality, etc. In such a process, entrepreneurs don’t fully know or understand the needs of a startup or business to be successful in the long run. Almost all startups fail within 5 years of inception. This lack of knowledge or understanding which results in the failure of a startup is what we call the “The Iceberg Problem”. Let’s consider the business model as an iceberg. Only 10% of an iceberg is visible, the "above the surface part, and 90% of it is hidden underwater, the "below the surface" part. When we try to understand the functioning of a business we only see and understand the visible 10% of the business. That is the 10% above the surface part that is visible from the consumer’s and competitor’s end. When entrepreneurs want to improve this business or startup they do it based on this above the surface knowledge of their inspirational business. This above the surface knowledge results in the failure of the startup in the long run. This is where we come in. We help startups develop the 90%, 'below the surface' part of the iceberg (business model) which is hidden.
The solution to The Iceberg Problem: The solution to the iceberg problem is to fix 'below the surface' business model. Below the surface business model consists of 7 major factors. Each of these factors can be fixed by following our simple but powerful steps.
Above the surface business model (front end) -
- sometimes sales (first sale)
Below the surface business model (back end) -
- Ideal customer definition & recognition
- High Value leads generation
- Communication model (Trust building process)
- Basic sales model
- Advanced sales model
- Retention sales model
The difference between a ten lakh rupees business and ten crore rupees business is the effective implementation of the factors involved in below the surface business model.
So what is the solution?
Building a multi-level business model that takes into consideration all the factors in the iceberg problem is a must to grow your small or medium business into a giant corporation. This business model is fundamental to grow your revenue from a couple of lakhs per month to tens of crores per month.
Customer acquisition cost is irrelevant as long as you are making more money from the customer than you are spending to acquire the customer.
The rate of conversion is irrelevant as long as you are making enough money form the ones that have converted. Besides, increasing your conversion rate over 3% (online) is extremely tedious and very less cost-efficient.
The perfect solution to grow your business would be to fix your business model. Implementing the Iceberg Business Model can help you get 3X - 10X more revenue from each sale. This will change the whole picture of your business. By making 3X - 10X more on each sale, you can buy more traffic from more sources. This will help you outbid your competition and conquer maximum market share, all while becoming exponentially more profitable.
Note: If your thinking about increasing the price of your products or services to get 3X - 10X more from each sale then stop, increasing the price without providing any additional value is completely unethical and quite honestly stupid. Following unethical practices could at best cost you the customer's trust and at worst result in total failure of the business. There is no shortcut to success.