7 reasons why you should take on-line marketing more seriously
Below are 7 reasons why you need to take internet marketing more seriously:
UK Business Are Missing Out On £25,417 Each Because Of Amateur Marketing
A UK marketing expert has confirmed that the majority of Britain’s 4. 8 million business owners are confused and frustrated with marketing in general and internet marketing in particular. This confusion comes at a huge cost, with two new surveys pegging the shortfall lat £25,417 per business or £122 billion per year, simply because managers make decisions based on gut feel rather than take professional marketing advice.
Research by global information services group Wolters Kluwer found that small business owners are prone to a “lone wolf” approach to decision-making. The vast majority are much more likely to trust their own instincts than seek qualified guidance from an expert in the field.
The second survey, carried out in association with the Centre for Economics and Business Research (CEBR), found UK businesses are losing out on £122 billion of sales because of poor marketing.
Steve Mills, a UK marketing expert says, “More money is wasted on marketing, than in any other part of most small businesses. You only need to have a look at a businesses’ website performance to see how unprofessional they are. A typical website for a small business might cost £1,000 to £4,000 and yet most produce little, or no new leads or sales”.
Known as The Prudent Marketer, Mills adds that “One of the myths about Internet Marketing is that having a better looking website will create more leads. It is simply not true.
In his internet marketing training and seminars, Mills teaches that there are two key factors to Internet marketing success; traffic and conversion. “The average conversion rate on the internet is 1% and that means that 99% of the people that come to small business websites leave without making a sale. This is costing SMEs a small fortune in lost sales and income”.
Steve encourages business to be prudent with their marketing. He says, “It really comes down to three things:
Where do you start?
The first thing to understand is your marketing numbers. This includes numbers like the volume of people that visit your website, or the number of networking events you need to attend to get a lead.
Once you know where you are, step two is to start thinking about improving your numbers. How can you win more business from referrals? How can you create an on-going stream of leads from LinkedIn? How can you improve your lead conversion rate?
Step three is to start to build new streams of income in a tested, measured and consistent manor.
What are my top tips for prudent marketing?
If you want to know more about Prudent Marketing go to www.stevemillsmarketing.com and down load the free e-book called ‘The 10 Biggest Lead Generation Mistakes Most Small Businesses Make’.
Or sign up to the Internet Marketing Workshop at – http://theprudentmarketer.com/making-money-on-the-internet-workshop/?inf_contact_key=1d00ee4247e950103400e29159c422a1
Small business owners, consultants and self employed people often spend their lives being under paid, under valued and under achieving.
The reason is that in 2013 being good is a given! We expect good and often get it. You have to be good at what you do, or no one will buy from you.
But in 2013 the key to success is being OUTSTANDING. You have to stand out! Just look at:
One has turned the computing and telecoms world on its head. The other has changed the music industry for ever. The third has 50.5% of global internet sales and the fourth has changed the world for ever!
OK these are not small businesses, but they all used to be. They are small businesses that did it right!
We can do, what they do?
Step 1 – Innovation
Innovation is the key to success. By innovation I mean – changing things in order to:
So what do we need to innovate? The answer is everything. From the key words you use on your website, to the titles in the copy in your advertising. From your positioning in your market, to your logo and from the way you answer the phone, to the way you ask for referrals.
By innovating you can improve the return on investment from every one of your marketing streams and become more proficient at marketing your business.
Question – Did Apple take a look at everything they did and work out how to do it better? They even have better boxes for their products than their competitors!
Step 2 – Quantify
A lack of quantification is one of the biggest reasons for business failure. Not quantifying your marketing is costing you and millions of other small businesses like yours a fortune right now!
So what do I mean by quantifying? Most businesses keep financial records, but most have no clue about the marketing side of their business. Most waste a fortune on marketing that does not work because they do not measure. What should you measure?
The key is to make a start measuring something and then when you know your numbers you ask the most powerful question in business – How can we do this better?
Step 3 – Delegate
One of this biggest problems faced by most small businesses and the thing that is holding them back the most is that they do not have the time to devote to growing their business, because they are too business working in it as an employee.
So you have to delegate! These days that does not mean ’employ people’. Out sourcing is becoming not only the strategy of big businesses, but also small ones. With websites like www.elance.com, www.fiverr.com, www.peopleerhour.com we in small businesses can access the world and have a truly global small business.
I could get my website optimised in India. My design done in Malasia and my sales in Canada.
My point is – The world is changing and you and I, need to change with it. In 2013 it is no longer acceptable to say ‘I don’t know how’. If you don’t change, your business may die. You only need to take a look at Blockbuster, Woolworth’s and Jessops. All businesses who did not embrace our changing world and are no longer with us.
A starting point to embracing the change in business and marketing is to improve your knowledge of internet marketing. In order to help the owners and managers of small businesses to do so I am holding a one day Internet Marketing workshop on Wednesday 3rd July, in Bracknell.
The workshop is called ‘Internet Marketing made Simple’ and is a no-non sense, Prudent Marketing approach to Internet Marketing.
Details can be found at Prudent Internet Marketing.
What are the top 3 actions that you need to take in order to double the size of your small business in the next twelve months?
I don’t know what business you are in, or what you are good at, but I do know that you have strengths and weaknesses and so does your business.
I also know that your current level of knowledge and skills may not get you to where you want to go.
Specifically, I am talking about your skills in:
All these are essential business skills and all skills that your business needs to be good at.