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The Only 7 Modern Marketing Skills You’ll Ever Need (Part I)

 

The Only 7 Modern Marketing Skills You’ll Ever Need (Part I)

Online marketing can be overwhelming, even for the most intelligent and motivated business owner. I'm sure you know what I'm talking about. Here you are trying to stay on top of what's happening in your industry. Meanwhile, you're being forced to become an expert in complicated online marketing strategies like PPC, email marketing, social media, video marketing, SEO. For many business owners, and even marketing directors, keeping up with all the changes in technology and the online trends that follow is more than a full time job.

 That said, I've got a bold statement to make about online marketing and about the internet in general...

Continue reading

 

 

3 Ways to Know if Your Online Marketing is Successful (Part III of III)

In the first two blogs of this series, we talked about how most online marketers assume that if they’re making a steady income that they’re succeeding with their online marketing. They measure success by measuring whether there’s more money coming in than there is going out. If your goal is simply to make more money than what you’re spending and to stay in business right now, then maybe the “income must be higher than outgo” is a good way to measure success.

But if you want to be in business for five or ten years, or longer, and if you want to make sure that you won’t go out of business if the economy takes a hit or if you experience a lag in sales, you need more ways to measure success. In the first blog of this series we talked about “future banking,” and how it’s necessary for creating sustainable business growth. In the second blog, we talked about the power of social banking and how it can increase your conversions and make your marketing dollars more effective.

In this final blog, we’re introducing the third method for measuring the success of your marketing campaigns, and this is one that can turn your marketing success around very, very fast…

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Cheap SEO – You Get What You Pay For

What is effective SEO?
Although there are varying answers to this question, most SEO consultants warn against buying cheap SEO and they can summarize their answers with the following breakdown:

  1. Your website position has increased on Google, Bing and other search engines.
  2. Traffic to your website has increased.
  3. You also see an increase in sales sourced from Google and other search engines. Continue reading

 

 

3 Ways to Know if Your Online Marketing is Successful (Part I of III)

Most online marketers assume that if they’re making a steady income that they’re succeeding with their online marketing. They measure success by measuring whether there’s more money coming in than there is going out. I suppose that’s a decent way to measure success. But doesn’t it really depend on how you measure success?

If your goal is simply to make more money than what you’re spending and to stay in business right now, then maybe the “income must be higher than outgo” is a good way to measure success. But I’m going to make an assumption and say that you’re also hoping to be in business for many, many years. I’m going to assume that you want to do more than just get by. I’m going to assume that you want to make sure that you won’t go out of business if the economy takes a hit or if you experience a lag in sales.

That said, in this three part blog series I’d like to look at three smarter ways to measure the success of your online marketing campaigns…

Method #1: Future Banking
I borrowed the term “Future Banking,” from the author and small business marketing expert Dan Kennedy. According to Dan, future banking is determining how much money you’ve deposited into your future bank account through acquiring a new customer relationship. For example, let’s assume that I KNOW every new customer I gain is worth $100 of yearly income. By this I mean that, on average, my customers spend about $100 a year on my products or services.

So let’s look at a simple selling situation as most marketers would look at it, then I’ll show you how to look at it from a “future banking” perspective.

The Casual Marketing Perspective
Let’s assume that you run a campaign which costs you $500. Three new customers each buy a product which is worth $250 in response to the campaign. That’s $750 in income and after deducting your $500 investment, you’ve got $250 in profits. Assuming that each product requires $75 to create and to deliver, you’re now down to a measly $25 in profits.

Most marketers would consider this a pretty disappointing Result. They probably wouldn’t run the campaign again or create a very strong continuity strategy for making more sales to those three customers. They’d probably have a lot of anxiety about running new campaigns and they’d probably worry that if they did run the campaign, they’d only make two sales and that they’d lose money.

This is what business looks like when you only measure your online marketing success according to immediate ROI. There’s no sense of investing in growing a business; it’s all about making money. Now, let’s look at the same situation from a future banking perspective.

The Future Banking Perspective
Let’s assume that you know, on average, that your customers will spend about $100 a year with you. A good marketer will look at the above situation and see it as an open door to turn that $25 profit into $300 over the next year, $600 over the next two years and $1,500 over the next 5 years. Not only will they run the campaign again, they’ll also create a continuity strategy for following up with their customers and for generating new business.

They might even spend up to $25 per customer per year just on continuity strategies like email and direct mail because they know their numbers. They know that $25 invested will equal about $75 in profits. That might not sound like much, but multiply it by a few hundred and see where it could put you in a few years. Now, let’s consider the difference between the “now banking” perspective and the future banking perspective….

Future Banking vs Now Banking
Who do you think is more likely to run the initial marketing campaign again…the now banker or the future banker? Who do you think will have less anxiety when creating new marketing campaigns and investing money into acquiring new customers? Most important, who do you think will have the power to create more sustainable growth and to beat out their competition by spending more money on new customer acquisitions?

As you can see, there’s more than one way to determine how successful your online marketing strategies are, and this is just the first method. Look for two follow up blogs in this series to see the other two methods.

 

 

Five Ways Direct Mail Can Make Your Online Marketing More Profitable

I had another interesting conversation with a business owner about SEO, direct mail marketing and online marketing. It seems that a lot of people are still thinking of direct mail as one method, SEO as another and email marketing as another. But I’d like to share five ways you can use online marketing AND direct mail together to create a powerful marketing campaign…

#1:  Find Them Online, Connect With them Offline
People are burnt out with email. The response rates and delivery rates for email are dropping so drastically that it doesn’t make sense to depend only on email as a means of reaching customers. Why not collect your prospect’s physical addresses and offer to send them something via old fashioned snail mail? You’ll get less form submissions, but your follow ups will appear more credible and they’ll have a much better chance of getting a response.

#2:  Use Direct Mail for Existing Customers
If people have already bought from you, don’t just email them. Put them on a follow up campaign and send them a good, printed offer (newsletter, catalog) every month, or twice a month. If they’ve bought from you already, there’s a good chance that they’ll buy from you again, and using direct mail will make it easier to get their attention than if you just use email.

#3:  Use Direct Mail In Addition to SEO
If customers aren’t finding you via Google, you need to find another way to connect with them. Why not use direct mail? You can always put an offer on your direct mail flyers for them to like your company's Facebook page or to sign up for your email list as well as your physical mailing list.

Of course, I recommend that you keep working on getting to the first page of Google, but using direct mail will help you get in front of the people who may otherwise never find you on the internet.

#4:  Use PPC & Facebook Marketing to Build Your Physical Mailing List
One is always the worst number in marketing, so why depend on email alone? If you’re getting a lot of emails from your users, but your email response rate is low, it’s probably because you’re relying on email only. If you ask for a physical address and offer to mail them something in exchange for giving their contact information, you’ll have more than one way to reach your customers. You’ll be more visible and, if your Google PPC and Facebook marketing campaigns are well written, you’ll get more responses than you could by just using email.

#5:  Offer Shippable Products
If you’re only selling virtual products, you could be missing out on some opportunities to test higher price points. This is especially important if you’re selling information products or software. Digital products are great, but people still love getting packages in the mail. So instead of only offering digital products, try creating a physical product with a higher price point. You’ll find that people who prefer shippable products are a different breed of consumer. They’re more value focused and usually willing to pay more money.

There you have it, five ways to use direct mail to make your online marketing more profitable. If you have other ideas, be sure to tell us about them in the comments!

 

 

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