Marketing using the ‘online toolbox’ has many pros and also a handful of cons.
Benefits of online marketing include:
Enhanced measurement of marketing data.
Closer interaction with customers and clients.
It’s easier to determine return on investment.
More qualified leads-and more of them.
The ability to automate marketing tasks.
Scalability.
Expansion into new markets.
The potential for increased revenue and higher profit margins.
These were the promised benefits when online marketing emerged in the early 1990s. The promises have been kept and the potential for online marketing remains strong.
Company decision makers benefit significantly from ‘clearing their heads’ of online marketing myths. These include:
People don’t read.
If people, including relatives, like the website, it must be good at generating sales and leads.
Be everything to everyone.
The competition has a great looking website. It must be superb and should be emulated
Creating a Solid Online Marketing Strategy Begins with These Steps
Stake a claim to the company’s space in the market.
Target the right prospects.
Educate these prospects.
Pre-qualify these prospects so unqualified prospects go elsewhere.
Pre-sell through the website, email, and other methods.
Future pace…get the prospect to imagine what their life will be like with the help of the company’s product or service.
Nurture leads by providing useful information to people who have expressed interest in the company’s products or services.
Sell more products and services to the existing client/customer base.
The 7 Step Online Marketing Game Plan
Know how much a client is worth to you after the initial transaction, and in the first 3, 6, 12 and 24 months of doing business (or whatever time periods make sense in your particular business) – this gives you your Allowable Cost of Acquisition.
Know how much a lead/sale is costing you, split by source. This means that all online goals need to be tracked (this can be done with Google Analytics for general goals and Google AdWords conversion tracking for Adwords-generated conversions).
Track everything, not just Adwords. Other types of online campaigns such as email newsletters can be tracked with Google’s URL Builder. This will tell you the exact volume of sales generated from a specific email blast, for example.
Make sure ALL ads and promotions are associated with a specific, trackable offer. You should not be running ANY promotions with a generic “call us” offer. Many of our clients run print ads that invite prospects to download a Special Report or Info Kit by following a special, tracked, URL. This allows them to do more of what’s working and less of what’s not working.
Cultivate and develop MORE THAN ONE successful lead generation approach. Many websites are highly dependent on, say, AdWords alone. If Google changes their Terms Of Service or the way they serve ads (and they frequently do), this could literally put you out of business. You need to test and run with at least 5 separate, independent prospecting methods that you can call on if required.Most of our clients have successful PPC accounts, SEO campaigns, referral systems and offline campaigns running simultaneously, automated via their website as the central “hub”. If any one lead generation channel dries up, they still have a business.
Don’t drop new leads quickly – nurture them. You should aim to develop the following three communication sequences to make as much of incoming leads as possible: (a) – one for “soft leads” before they enquire (i.e. an info pack, or Special Report), backed up by a ongoing sequence of education-and-information emails.(b) – one between the initial enquiry and closing the sale – could be a book, a White Paper, or a Feasibility Analysis.(c) – one for un-converted leads who may convert in future.Especially where the value of a new client to your business is high, these communication sequences can deliver exceptional ROI. You’ll also notice that almost nobody you’ve done business with in the past does this. If you do it, you’ll be exceptional in the eyes of your prospects – always a good thing!
Resell to your existing client base by offering more value. Don’t forget about your current client base – how can you serve them better? One of the most effective ways to develop a more stable cashflow and serve you clients better is to offer some kind of continuity-based service.For health supplement companies, this means shipping the product every month until the customer says “stop”. For professional services, this might mean providing a retainer service on an ongoing basis for a set price.
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