Blogs - The Prudent Marketing Company

Marketing Advice Hampshire – The Three Biggest Reasons Why Marketing Fails

Marketing Advice and tipsThe Three Biggest Reasons for Marketing Failing are …

1. It never happens

In others words, the great Marketing idea, or strategy is never implemented.  For example, a lot of people tell me “I am on LinkedIn, but I don’t really use it”.  I often ask business owners – “When did you last send out an email campaign?”  The answer is often “About three months ago.”

The truth is that the word most often missing from most small businesses marketing is the word ‘CONSISTENCY‘.  In other words, doing things in a consistent and ongoing manor.

So often I see businesses who only market themselves when they are not very busy.  When they are busy they stop marketing.  I also hear business owners telling me “I can’t afford to work with you right now Steve, but as soon as more business comes in, I will give you a call.”  Do you know what?  It never happens.

Sales and marketing, or lead generation and creation, needs to be driven.  I once heard a lovely saying: “Marketing is like a wheel barrow.  Nothing happens until you push it forward”.

2. It is never measured

One of the biggest ‘sins’ in marketing is not measuring your results.  Why?  Because you can not manage what you do not measure, so if you are marketing your business using a particular strategy then you need to know whether it is working or not.  Let me ask you a question: What return on investment do you get from your website?  How much did your website cost you and how much has it made for you?  Do you even know this KPI?

You also need to consider how many people visit your website on a monthly basis and how many leads that creates.  And what is your conversion rate and life time value from those leads?

Without this step it is impossible to implement the next step – that is, improving the results that you are getting.

3. It is never improved

The third reason for marketing failure is not really failure at all; it is is lack of maximisation.  Let’s take a look at email marketing.  For example, businesses that use email marketing are generally very poor at doing so and they say email marketing does not really work.  The truth is that they have never tested it in order to improve the performance.  They could:

  • Change the headline of their emails to improve performance (I once did this for a clients and made them an extra £2.2 million on the next email that they sent out)
  • Change the copy
  • Test using plain text, as apposed to newsletter type html
  • Test using, or not using, testimonials
  • Test adding video
  • Follow up all opens and/or click-throughs
  • Add a new call to action or guarantee
  • Send the campaign to a different or new target market
  • Change the use of colour
  • etc

My point being …

Take action, measure your results and then work on improving the results that you are getting.  If you want to learn move about Prudent Marketing, then join me at one of my half-day workshops.  They are only £69 and the ROI you will get is nothing short of outstanding.  Click here for details.

Email marketing is strange

email marketingEmail is consistently ranked as the No 1 marketing ROI (return on investment) activity.

However, 95% of the small business owners that I speak to are not doing it, 4% are doing it badly and 1% are making a fortune from it.

Typically business owners tell me:

  • We email our list every now and then
  • I don’t know what to say …
  • I don’t want to spam people
  • People will get mad if I email too often
  • Email marketing is dying

In my world there is nothing boring about doubling your business.  Personally, I rarely send out an email without making money – and I send out lots of emails every week.

I believe that there is no faster, easier or more cost-effective way to generate sales than email marketing.

But how do you join the 1%?

Here are my top seven tips for effective email marketing:

  1. Keep in touch on a regular basis
  2. Be happy for people to unsubscribe from your list (they are not interested)
  3. Don’t sell most of the time.  Rather, educate and position yourself or your business as the ‘go to’ expert in your niche
  4. Write effective copy
  5. Make sure you test different formats, including plain text and plain text using html
  6. Try video email marketing
  7. Be consistent

The added bonus tip …

And this one is the BIG ONE!

Don’t give up.  So many people that I speak to tell me: “I have tried email marketing and it didn’t work.  We sent out an email in January, another in February and again in March and we have won no business.”  This is like meeting a man or woman in a bar and hoping to build that relationship by sending out a monthly email.  It simply doesn’t work.

Rather, is it best practice to keep in touch at least weekly, to phone these people and to arrange to meet them at events etc.

Need further marketing help?  Take a look at this.

Big changes with Google

PPC Advertising ManagementGoogle PPC Advertising

Google has changed its logo many times for fun, but major changes to the pages don’t happen too often.  That is why their recent decision to remove PPC adverts from the righthand side of the page is big news!

This will have the effect of reducing the amount of PPC adverts on the page from eleven to only seven.  In turn, this means more clicks for the companies on the page, especially those in the first three boxes at the top of the page.

Will this also impact organic traffic?

Yes it will, although it is hard to say how.  Fewer adverts could increase organic traffic, however a fourth advert at the top of the page could push the organic pages down the list.  My thoughts are that Google have not done this to reduce their PPC advertising income, but rather to increase it.  So if that is the case it is reasonable to assume that fewer clicks are going to be made in the organic side of Google and more are going to be for PPC adverts.

What will this do to advertising costs?

Less adverts above the fold means it is going to be more expensive with higher CPC (cost per click) fees and bidding wars!

You may want to ask yourself: Are the words you are bidding on worth spending the current CPC on?  Could you find a more cost effective niche?

Six tips from The Prudent Marketer

Steve Mills - Marketing Advice

 

 

 

 

 

 

  1. Review how your generic adverts for each page of your website appear on Google
  2. Review your average position and CPC for each key word
  3. Look for niches to advertise in and and be more Prudent with your PPC investment
  4. Measure, measure and measure
  5. It is always good to get the top spot, but it may not always be financially viable
  6. Improve your landing pages so that you get a better ROI from your PPC fees

The Prudent Marketer – keynote speaker at the Canada – United Kingdom Chamber of Commerce

Canada Chamber of Commerce

 

 

 

 

 

 

A big thank you to the Canada – United Kingdom Chamber of Commerce and to Nigel Bacon and his team, Jenny and Victoria, for organising this event and for hiring Steve Mills, The Prudent Marketer, to deliver another keynote talk on LinkedIn Marketing.

Marketing training london

 

 

 

 

 

Special thanks to McCarthy Tetrault for hosting the event at their lovely offices in Bank with an amazing view of London – and thank you to all the delegates who attended and their kind comments.

Steve Mills said: “It was great to get such positive feedback.  I am really pleased that so many people attended and went away knowing and understanding how to win business on LinkedIn.”

Steve’s next talk can be found by clicking marketing training.

 

The Law of Influence – Reciprocation

The Law of Influence – Reciprocation

According to Professor Robert Cialdini and his book, “Influence – The Psychology of Persuasion”, there are six tools of influence.  In this video I discuss the first one, called “Reciprocation” and how you can use this in your sales and marketing efforts.

Conversion rate optimisation

Conversion rate optimisation

How many people need to visit your website in order to create a lead?  Watch this video for ideas to improve your Conversion Rate Optimisation.

The three steps to increase sales

Increase sales

How to increase your sales …

Creating leads is great, but what you really need is SALES.  You need to work out how you can increase the number of leads you get and then improve your CRO (conversion rate optimisation).

Watch the video below to discover my three steps for increasing sales.

How often should you use email marketing campaigns?

How often should you send out email marketing campaigns?

Business growth funding

Steve Mills - Marketing Advice

I want to share some really important points with you today.  This is only for businesses who are serious about taking action and working with me to develop a High Growth Marketing Programme.  I have recently accessed some Business Growth Funding to help you to work with me and to get your training and mentoring 50/50 funded (you only pay for 50% of the cost).

If this is of interest, then get in touch and we will arrange for you to come to our offices for a Marketing Review Meeting.  I have only a few dates available before I travel to run a series of workshops in Singapore on 19th November, so call now to book on 01256 345 556.

Take action,

Steve Mills – The Prudent Marketer

01256 345 556

PS… Take a look at this…

Why you need Multiple Streams of Income

Marketing Training

Why you need to use Multiple Streams of Income.  I am often proudly told …

“We don’t do any marketing, we just rely on referrals.”  On one hand that is great, but on the other it is costing businesses thousands, or even millions, in lost income and profit.

Let me explain …

The great things about referral leads is they they prove you are doing a good job (or you would not get referrals).  They are also great because they are generally free (unless you incentivise people for giving you referrals).

However, here is the problem …

Relying on the good will of others in the hope that they will help you to grow your business is never a great idea.  Having a system which creates multiple streams of income is far more effective.

What is worse about the “one income stream” approach …

What is worse is that if you don’t do any marketing and simply rely on referrals, then you miss out on what I call the multiple stream of income effect.  Here is what I mean.  If you are not winning business from your website, then you are leaking money.  If you are not using email marketing, then you are certainly leaving a pot of gold on the table that you are not claiming as yours.  If you are not using LinkedIn properly and professionally, then there is another pot of gold that you are missing out on; and if you are not using the many other digital marketing methods, then again you are losing out.

What is the solution?

The key is to create “Multiple Streams of Income”.  In other words to use multiple ways of winning business.  Can I ask you a question?  Can you think of any big successful business that does not use Multiple Marketing Streams (apart from a few pyramid schemes)?  The key is always action, but the truth is that you need to take “Prudent Action”.  In other words, don’t throw loads of money, time and effort at this, but rather spend time testing and measuring your results.

Remember this …

Don’t listen to people like me telling you this will work or that will work and that you should spend thousands on a new website, or on PPC Advertising.  Instead, invest in a small amount in “testing” your sales and marketing in order to get to know your real marketing numbers.

A key thought …

Once you know that for every marketing £1 that you spend, you get £10 back, you have an infinite marketing budget!

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