It's only when you have the capacity to expand and grow, your investment in digital marketing will give you the biggest long term return on investment (ROI)
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Do you have the potential to grow online
Just last week, I had a meeting with a group who wanted to know how they can improve their business online. Their annual turnover was impressive, topping $85 million last year in gross figures. However, they believed that this was brought mainly by brand recognition and offline advertising. They also believe that they could increase their market share between 3 to 4% year on year for the next 5 years.
They have tried to increase their online expenditure for the last two years but it did not bring in their expected leads and sales. They have a specific target market but the marketing strategy they were using was simply failing to reach or convert their potential clients adequately. They knew that if their paid online advertising and search engine optimisation improved, they would have greater success in reaching their target revenue increase of $2.5 to $3.5 million annually.
First Things First
Have you ever wonder on the size of your potential market and the potential of growing your business online? Wouldn't it be better if you knew which solutions work best?
First things first, behind every successful marketing decision, there is an allocation of budget, to know how much you need to invest to ensure your success online, a calculation sheet is provided here. Use it to estimate a realistic budget to give yourself the best chance of success. After you have come up with a working budget, if you so wish, we may help you find the best solutions moving forward. Otherwise, you read on for some food for your thought when taking your business online.
Focus on Your Marketing Strategies
The common assumption among business owners is that their businesses suffer a slump because of their limited market penetration or that they have a problem with drumming up enough interest. The truth is that if your clients are not beating a path to your door, the problem may lie with the type of marketing strategies you use.
My clients have successfully used my system to increase their businesses by about 30% to as much as 200%. Your potential to grow is really just knowing how to make adjustments and choose the best strategies to boost your business.
Why Your Lead Generation Strategy Matters
Maybe you have tried a few carefully chosen online strategies and yet, unable to grab your target market. Do not blame them! Your target market is behaving exactly as they should. The problem could be in your lead generation strategy. If it does not work, putting in more investment will not do the trick.
So how exactly can you determine if you are getting the business you deserve? Here are some steps you should consider:
- Get to know your target market better. Do your research and find out what the hard numbers are. Identify your potential customers, their location, and buying preferences.
- Use Google to your advantage. With the keywords planner, you could acquire search volume you will find highly useful.
- Make the benefits of your services clear and desirable. When people look for help, they do not look at your job or position – they just want to know how you can help them. In other words, they want the benefits of your services. Someone looking for an occupational or physical therapist, for example, wants a professional who can improve their mobility and help them eliminate pain so they can move, get involved in their communities, work on their hobbies and interests, and enjoy their lives.
- Understand and review the steps required for your marketing strategy and the marketing tools you need and use. Measure, Track and Improve all the time. This will help you determine which ones are getting the results you want and which ones do not work.
Bringing In the Clients
Businesses that are successful, the kind that pull in the right profits and prospects, do not come by their numbers because of magic. They know exactly which strategies are working for them. This is a key skill you need to learn in quick time.
Maximising Your Mailings and Ads
If your sales are brought in mainly through cold mailings and cold calls, you may be making a mistake or will be in trouble if you are not already.
What you need to do is to capture the interest of your prospects first, then build your relationship. A market that knows you and understands you will trust you, and will buy your products and services from you. Start by offering helpful information first, then offer more information and not forgetting testimonials as proof of your abilities to help your clients.
Giving Out Freebies
Using freebies to entice prospects to get in touch is a well proven strategy in business. Regardless of what you are giving away – an ebook, a free seminar or report, or even a pen – you are generating reciprocity, allowing you to capture your prospects' contact information.
Always Focus on Your Customers
Check your mailings, ads and website. Are they focused on your company and not your customers? If they are, then you are wasting precious resources and time by making this fundamental mistake. It's really not about you! Redirect your marketing messages on your customers – what they want, how they want it, and when.
Selling Too Soon?
How soon is too soon? It depends. When your prospect make an enquiry, do not sell to them right away. Most people who buy online do their research on their purchase first before actually buying. Offer them the benefits of your product or service first, let them know what you can offer and be available for them when they are ready to buy.
The Art of Selling Vs. Helping Customers Buy
People will buy willingly but they will resist being sold to. When it comes to getting what they desire, people will spend money. Like me, my daughter prefers to shop around to look for value and quality before buying. We both know that by doing our research, we are better informed and end up satisfied with our purchase.
Learn from this. Instead of selling to people, offer to help them identify their wants and provide for their needs. That is how you will increase your sales.
Fixing Your Digital Marketing Problem
Check your mailings campaigns, ads, websites, and the like. If you are not receiving the desired responses or are failing to generate leads, there is a problem with your strategy. Review and identify your weaknesses, then come up with ways to fix them. Find out what works and what fails. Isn't it about time you took the reins to bring in your target market and sell to more clients?
Do you have the potential to expand your business?
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