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Posts Tagged ‘staff’

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

Are Your Marketing Dollars Working for You or Against You?

Thursday, October 27th, 2011

I recently spoke with a small business owner in Ahwatukee who called with some questions about Internet marketing. He was spending over $1,000 a month on magazine and yellow page ads, but heard that Internet marketing was more affordable and could be more effective than other types of advertising. Like many small businesses today, his operating budgets are tight and marketing expenses are often the first to be cut.

 

When a new client comes to me and is considering Internet marketing for the first time, I usually ask if the business has some kind of method in place to track the effectiveness of current marketing expenditures. How does your business track the source of inbound leads? Many companies don’t have even basic leads tracking systems in place, such as asking new callers how they heard about the company and recording their responses. Owners often don’t know:

 

  • How prospects find them.
  • How to track results to determine which marketing programs are working effectively.
  • How much money they’re spending on ineffective marketing programs.

 

The owner followed my suggestion and began asking all new customers “how did you hear about us” when they contacted his company. He trained his staff to ask the same question when answering any new inbound call and had everyone record the answers. He was shocked to learn that over a 30-day period, not a single new inbound lead came from those magazine or yellow page ads. The end result? We learned that he was wasting a lot of money on advertising that did not work.

 

If your traditional marketing programs aren’t producing a reasonable return on investment (ROI), consider redirecting those dollars to a more effective method, such as Internet marketing.

 

 

Be Where Your Audience Is Looking

 

Consider the stats: 78% of U.S. adults use the Internet and 78% of those search for information about a product or service they’re considering buying (Pew Internet and American Life Project Tracking surveys). Given the sheer numbers of potential buyers online, business owners can no longer ignore the power of the Internet for marketing.

 

People today access information any time they want it via Internet marketing (websites, social media sites, blogs). People increasingly control how, when and where they receive information. They are also finding more ways to ignore unsolicited information coming via traditional marketing (TV, radio, print ads, direct mail). Consider this:

 

  • Television ads are often avoided through the use of TV capture devices such as TiVo
  • Radio ads are often avoided through the use of Pandora and/or advertisement free satellite radio stations
  • Many magazine and newspaper companies have gone out of business – the same information that was once printed can now be obtained for less cost online

 

The internet has made it possible for people to obtain the information they need at the exact moment they want to find it. That driving force can lead to overwhelming success for your business. Web marketing allows your business to display advertisements only when an interested person is searching for your products or services, or is reading information that is relevant to your business. With Internet marketing, your marketing is delivered with laser-like focus to a highly targeted crowd of interested buyers.

 

In order to increase ROI through effective Internet marketing, you need to know:

 

  • Who your target audience is.
  • What they may be thinking about when they need your product or service.
  • Who your competition is and what is their message.
  • Which of the many Internet marketing technologies are best suited to produce results for your business.

 

The answers to these questions build the base upon which an Internet marketing campaign is created. An experienced internet marketing firm can help you achieve success by:

 

  • Developing effective branding for your products and services.
  • Creating clear and concise marketing messages.
  • Clearly communicating value to your potential clients.
  • Evaluating your marketing budget to employ the technologies that are most effective within that range to accomplish your goals.

 

Your campaign may be comprised of a mixture of various technologies, including websites, social media, SEO, online promotions, content, blogs, email marketing, and PR. They can all blend together seamlessly as part of a well-defined strategy. However, once you create your ideal online marketing platform, the work isn’t finished. These digital tools allow you to go further than ever before with your marketing, and give you the resources to constantly analyze online marketing effectiveness to make changes as needed that will help you maintain a competitive edge.

 

Measuring Internet Marketing Results


So, how will you know if your internet marketing campaign is providing you the results your business needs to succeed? How can you know what changes need to be made and when to make them? Have you seen an increase in:

 

  • Website traffic?
  • Conversions?
  • Click-throughs?
  • Visibility/brand image?
  • Sales revenue?
  • Number of subscribers?

 

The ability to track every aspect of your marketing campaign is one of the most powerful results of marketing on the internet. Virtually every statistic can be measured and, more importantly, adjusted in real time to increase results in specific areas. A well-planned Internet marketing campaign will start off with advanced configurations, and grow and shift over time as the needs of your business also change. Online marketing is flexible, allowing you to modify, in real-time, factors such as ad scheduling, ad copy, your budget, geographic targeting and more.

 

The ability to modify your campaign in real-time, monitor it, and improve it will allow your business to create awareness, build trust, and develop more leads than ever before, resulting in increased sales and repeat business.

 

If you could increase visibility, leads and sales while decreasing marketing costs, how long would you wait to start? Investing in a marketing campaign designed by Internet marketing experts like seenBest Web Design in Phoenix, Arizona, will cost no more than a few traditional ads, but can produce greater long-term results. Contact seenBest Web Design today at (602) 456-0150 to schedule a free consultation and find out just how successful an effective Internet marketing campaign can be.

 

 


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