Finding A Cost Effective Internet Marketing Strategy
Copyright © Stone Evans, The Home Biz Guy
Finding a cost effective internet marketing strategy is vital to your online business success
As someone who owns an online business I am willing to bet that you'd like to know what is the most cost effective internet marketing strategy. For many Internet business owners,
investing time, effort and money in searching for an effective Internet marketing strategy can be a big headache. Many simply never bother to do adequate research.
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THERE ARE NO SIMPLE ANSWERS
The how much to spend and where to spend it questions have no
easy answers.
Depending on your type of business, many people suggest that the
*how much* should be equal to anywhere from 4% to 10% of your
gross receipts.
The quandary is that a business cannot survive without a fresh
flow of incoming customers. But, a business can seldom generate
a fresh stream of customers without spending money to get the
word out about their business.
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THE CHALLENGE OF DEVELOPING A COST EFFECTIVE INTERNET MARKETING STRATEGY
Have you ever paid for advertising and sat back to await the
fresh flow of customers, only to find yourself sitting and
sitting and then sitting some more?
Don't feel bad about that. It has happened to many of us before.
See, knowing where to spend the advertising money is not enough
to get the job done.
Where to spend the money only begins to highlight the other
issues connected with advertising:
- Marketing Plan
- Advertising Strategy
- Headlines, Ad Copy and Visual Presentation
- Tracking the Success of Your Advertising Campaigns
THE MARKETING PLAN
The Marketing Plan is used primarily to identify your own
products and services, costs, strengths, weaknesses and the
strengths and weaknesses of your competitors.
INTERNET MARKETING STRATEGY
It is important to understand what you expect to gain from your
Internet marketing strategy.
Do you simply wish to get your name known so that when your
customer will need you, they will think of you first? Or, do you
wish to get your customers in your front door on Saturday?
Do you want your customers to come in and take a look around to
discover the next object that they cannot live without? Or, do
you want them to come in and buy a specific widget?
Do you hope that enough people will come in to buy enough
products or services to pay for your single ad? Or, do you
expect to gain a lifelong customer who will help pay for your
advertising over the course of several years?
When you know what you want, then you will better understand
just how to do it.
HEADLINES, AD COPY AND VISUAL PRESENTATION
You might be surprised how many business owners put out
advertising without regard for the quality of the sales pitch or
presentation. The quality of your distribution outlet or the
amount of money you spent to get there will do little for you if
the advertising vehicle is a junker.
Test all of your advertising materials in smaller markets before
blowing your advertising bank roll on it. You must absolutely
know the value of your advertising before putting large sums of
money behind it.
TRACKING THE SUCCESS OF YOUR INTERNET MARKETING CAMPAIGNS
Tell your customers to save another 10% when they tell you they
heard or saw your ad in such-and-such location. Suggest that
they can register to win a free widget if they fill out a form
and have them to tell you how they heard of your business.
Advertise a specific widget in your ad and track the sales of
that widget.
It does not matter how you track your advertising --- just make
sure you do it!
IN SUMMARY
The ideal way to spend your advertising budget is to buy a rifle
with a high-powered scope and to only shoot your targets in the
light of day.
If you are not tracking your advertising, then you are shooting
a pellet gun without an attached scope, with blinders on, and
shooting in the dead darkness of night.
Even with a bigger gun, the blinders in the dark constitute the
single largest mistake made by advertisers. If you are unable to
track your advertising to learn what is working well, what is
working somewhat, and what is a money pit, then you are
condemned to repeat your mistakes over and again and will never
build a cost effective internet marketing strategy.
By relying only on gut instinct, you may be choosing to spend
more money in the money pit and to lose all of your money in the
process.
When you get down to the nuts and bolts of making money from
your advertising, you should plan, prepare, track and study your
results. You must have factual information on which to base your
advertising decisions. When you can make informed decisions you will be
able to develop a cost effective internet marketing strategy,
and making money from your business might just start to get easier.
To Your Success!
Stone Evans, The Home Biz Guy
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