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Posts Tagged ‘failure’

Business Marketing Tip: Focus on the Positive

Wednesday, February 6th, 2013

Focus on the PositiveHave you struggled to achieve satisfactory results from past business marketing efforts? You’re not alone. Most entrepreneurs waste lots of valuable time struggling to find effective advertising solutions. Trying to grow a business and spending a small fortune in the process, only to get back very little in return, is a painful and unpleasant experience. The failure to bring on new clients via effective advertising will keep you from becoming successful. This inability to generate leads is common in new businesses, and forces most one-time business owners to abandon their dreams, back to the safety of a 9 to 5.

 

Don’t let past marketing efforts that failed to produce new clients lead to a fear of failure, or convince you to abandon advertising completely. It takes money to make money, all successful business owners and managers embrace this fact. New clients are a necessity for any business to grow and remain strong, without them your business will fail. So, the question is not whether you should market your business, the question is how can you best market your business? Yes it takes money to make money, but that money needs to work smart to make an impact. You need to find out how to allocate the money you do have into advertising methods that guarantee higher margins of profitability, and invest your advertising budget in new lead generation techniques that result in a measurable increase in new clients.

 

How could a profitable advertising campaign help your business grow? Visualize the success you want, and then focus your resources on the positive to make it happen. A positive outlook could provide the spark you need to evaluate and learn from negative advertising experiences, and create a successful marketing plan from past failures. Here’s how:

  • Go back and make note of every advertising method you have ever tried in the past
  • Now examine and make note of all of the current ways you are spending money to advertise your business
  • List each marketing type above in a spreadsheet
  • For each method in the list, write down the total amount of money spent on that advertising method to date
  • You should also calculate in the cost of time allocated by staff members to the total amount spent for each
  • Now add up how much projected revenue you’ve gained from each of those methods to date
  • Including recurring revenue from clients who found you via that one method but used your services multiple times

 

Your list may resemble the following, an example marketing analysis data provided by a Phoenix area IT firm:

 

Marketing Methods Analysis

 

How can you take a list like this one, built with data from your own business, and focus on the positive to turn around negative advertising adventures? To start, look at your list as a framework to learn from and build upon. The first step is to identify which advertising methods work and discard all others. It’s important to avoid wasting marketing budget if you want your business to grow. See the following graphic, we went through our sample list and crossed out all forms of marketing that resulted in wasted budget:

 

 

The above methods, crossed out in red, cost a total of $142,112 but only resulted in a total of $12,224 in revenues. That’s a total loss of $129,888. The first step towards success in marketing is eliminating those methods that fail to generate more revenue than they expend. If you are losing money, consider another medium. Your most important resource as a business owner is time, so don’t wait forever to take action. Reallocate your budget immediately by eliminating every advertising method you’re spending money on that isn’t working (those items in red above). Once you free up this money, you can either move those funds to advertising methods on your list that are proven to be profitable, or try new marketing avenues that you haven’t yet explored.

 

Focus on the Positive to Improve Your Advertising

To improve on advertising methods that are not as profitable as they could be, the solution is to focus on the positive. The return for methods on your list that are close to break-even can usually be improved by making a few adjustments. In our example above, the question was how can we improve our video ads to make them more profitable? For your list, evaluate your products and services from the your customer’s point of view. What service or product are you currently providing that existing clients really like? Think about all the positive qualities of your product, service, and offer, and hone in on what your customers are looking for. Next, change up the message in your lower performing advertising methods to better deliver on the needs and wants of your ideal client. It doesn’t matter if you’re creating articles for content marketing or producing videos for social media sites. Pour your enthusiasm and pack value into what you’re doing, the main idea here is to focus on the positive. In our case, for a recent video content marketing campaign, we re-thought the entire campaign to come up with ways we could produce higher quality videos that were more engaging, entertaining, and useful for our target clients.

 

Whatever you do, keep a positive mindset and don’t be afraid to invest in your business. Remember, it takes money to make money. While you should definitely try new things, you should also keep a watchful eye on your investments and tend to them on a regular basis to maximize results. Doing so will allow you to eliminate obstacles and negative investments, focus in on those things that are working well, and create powerful new marketing messages to attract new customers.

 

 



seenBEST Web Design

Strategy, More than Just an Eight Letter Word

Monday, September 20th, 2010

What a mess we’re in.

The online marketing industry right now is saturated with poorly trained freelancers, scam artists, and under-skilled web design companies that know little, promise much, and eventually wind up under-performing. When a business owner responds to a piece of spam that promises him SEO that will deliver 3,000 new leads per day for $20 a month, buys it, and gets nothing in return it really hurts the perception he has towards this industry. In his mind, SEO doesn’t work, and it’s very difficult from that moment forward to change his opinion. So many people have been burned this way and they are hesitant to participate again, even after they come in contact with a firm that really can deliver proven online marketing results.

Adding to the problem is the fact that online marketing methods have become confusing and difficult to follow for many business owners. SEM, SEO, PPC, Keywords, Blog, Social Media, PR, Linking, Meta Tags. Most people just scratch their heads and turn away. They don’t have time to figure this out, and most people don’t purchase services they can’t fully understand. Why should they? It’s hard to see real value in any service if you don’t first understand how it works.

Marketing StrategyAdding even FURTHER to the problem is the basic fact that strategy is more than just an eight letter word. Sure, you could go out and hire a self-proclaimed “Social Media Guru”, but what good is that going to do you when those efforts are not intelligently linked to your overall marketing efforts? Very little unfortunately and therein lays the dilemma. Business owners who have been burned in the past, do not understand the industry, but are willing to give it another try often end up trying some type of piecemeal approach where they hire several different people or companies. They may have a web design person, a social media person, an SEO person, some company in another state handling search engine marketing. Usually most of these organizations never sit down or meet with the business owner. This is a recipe for failure. These strangers, each handling some different aspect of your business presence, do not care whether or not your business generates new leads. They will be more than happy to take your money, however, and as a result you will end up with poor results and the attitude once again that online marketing does not work for you. Wash, rinse, repeat. The cycle continues.

If you own a business and want to become wildly successful you absolutely must establish a successful online marketing strategy. That strategy cannot consist of a piecemeal approach. The game has become very complex and, much like football, it is going to take a trained, well-coordinated team effort to win. Imagine if the owner of the Arizona Cardinals walked outside, pulled 11 complete strangers together that have never met before into the stadium, and had them play a quick pickup game against his team without any prior practice. What would happen? Those poor guys would get crushed. In similar fashion, your business will get crushed by your competition if you don’t hire a complete team that knows the game and has a solid game plan.

seenBEST Web Design knows the detailed methods of online marketing, how to make them work for you, and more importantly how critical it is for all of them to work together in order to bring success to your business. Our team will sit down with you, determine exactly what your business goals are, and then explain to you point by point the online marketing methods that are most cost effective for you to achieve results. We will not suggest driving traffic to your website, for example, without first making sure that your website is adequately designed to convert those visitors into leads. We will not suggest that you build a killer new website without first giving you pointers on ways to design it that will make it easier to market it once it’s complete.

We do these things at no additional cost, first because we understand the industry and we can, and second because the success of our clients is very important to us. SEO, SEM, Social Media, Email Marketing, Blogging, and Web Design are all interlinked with each other. You need to think outside of the box to target, plan for, and achieve business success. The way to do this is through an expert team that will communicate with you, educate you, and work together with your company to bring in real profits! Break the cycle, pull your online marketing team together, and let’s start generating new sales.



seenBEST Web Design

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