MarketingMoment

If there is one online marketing tool that is possibly the most underused and least understood it has to be web analytics.

At its most basic, traffic analysis involves collecting and interpreting information visitors to your website. At the more advanced level, tracking systems can provide an array of key data about the journey your visitors make once on your site, what your most cost-effective traffic sources are, which pay-per-click (PPC) or search-engine-optimisation (SEO) keywords and key phrases to concentrate on, and a whole host of other sales and ROI information.

A really fantastic resource that is FREE from Google is their Analytics program – http://www.google.com/analytics/. As well as being able to track your web visitors, page views, and more, you can also track your email campaigns, referrals, and even offline campaigns. This is definitely one to bookmark . . .  and USE! 

Your website’s statistics provide a LOT of clues as to what visitors make of your site.  Don’t ignore them!

Adapted from: “Using Online Marketing to Your Advantage“

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The laws of yin and yang state that there is an opposite for everything. So while many have been preoccupied with the doom and gloom of failing economies, other business-owners are quickly realising that there IS light at the end of the tunnel . . .  if one is prepared to be optimistic.

An economic downturn can provide a smaller company to capitalise on that optimism by gaining market share and moving into a position of strength for the future. Just be sure you:

• Focus on the details. 
• Make sure that you are charging for each and every part of the business. Increase prices if you are undercharging — difficult but certainly doable.
• Reassess the profitability of your customers.
• Go for the low-hanging fruit — your existing customer base; it’s less expensive and unpredictable than going after new customers.

For more ideas on how to be profitable in a slow economy, sign up to my free newsletterCommuniqué for Success. 

Source: Business XL, October 2008, pg38  

Shameless Plug: My proven marketing campaign focuses on maximising your relationships with your current clients or customers AND make immediate changes in your business that will unearth a ‘hidden’ untapped source of newfound profits. Find out how much money YOU are losing right now due to neglecting this one crucial area — simply ask for your free, no-obligation consultation: www.mediaminister.co.uk/contact2.htm  

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So, as of this morning, the UK is officially on step away from entering into a full-blown recession. It’s hardly surprising, what with all the doom and gloom of recent times.

And you’d be forgiven for thinking that we were ALREADY in the red, thanks to the doomsayers, the negativity and even panic that has been spread by the mainstream media (and, boy, do they LOVE the fear induced by the dreaded R word; it means they fill and sell their papers more), kind of like an infectious disease.

But, before you turn yourself over to an inky-fingered bank clerk cementing your future in his ‘big debt’ book, remember you’ve got to have a little faith…

…Faith in the fact that just as a lack of confidence in the markets has caused this economic downturn (OK, with a large dose of greed thrown in), confidence will get us out of this precarious situation — sooner or later. Faith in the fact that history has shown that it is those businesses who march full speed ahead, actually increasing their advertising and marketing spend, who come out the other end fighting strong. And faith in the speculators who say we’re in a good position to ride any recession wave — no matter how big — with ease. Indeed, I heard one financial expert this morning say that any looming recession will be a short if sharp one, and NOT a long, drawn-out one. He also predicted that we’d be well out of the worst by this time next year.

Of course, there will be difficult times for those companies who need credit, and, yes, people STILL need to have a roof over their heads and eat well. They will still need advice, and services and products, too.

However, to flourish in business right now, you need to  have confidence in your own ability to rise to the challenge . . . and confidence knowing that consumers will always buy. If they didn’t, things would have ground to an almighty and irrevocable halt quite some time ago. 

So to recession-proof your business:

• Ignore the doomsayers
• Have confidence 
• Build value in all that you do and sell 
• Nurture your ‘house’ list
• Aim for excellence in customer service
• Actively seek out the positive in everything you see and hear (there is ALWAYS a silver lining to every dark cloud, if you look hard enough)
• And, above all, market more and panic less.

Feel the fear and do it anyway. Marketing, that is. If you cut back on this one vital element to running a business, you WILL feel a hit. These times call for the bold and the brave… 

What about YOU? Are you doing anything differently because of the slowdown? If you have any tips, let’s hear it!

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One of the largest and most efffective forms of marketing on the planet. That is what direct marketing is. And it works. Boy, does it ever. Just spend a little time Googling the term with the word “success” or “results” and you’ll see what I mean.It has many advantages over advertising and most conventional forms of marketing, including:

1. Direct marketing is trackable. And, of course, by being able to account for every pound or dollar spent, there will never be a question mark over what works – and what doesn’t.
2. It has publicity value. It lets your prospective customers and clients know that you exist in the first place. While they might not act immediately on your offer, there is no telling when a prospect might pull your direct-mail piece out and get in touch.
3. It’s perfect for small businesses and entrepreneurs because of its simplicity. It doesn’t take much –  in terms of time, cost and effort – to product an effective direct-mail package.

So whether business is slow right now, or you need to test a new product, you owe it to yourself to at least give direct marketing a go. 

If you want help with your direct mail, join my FREE VIP newsletter for practical tips and strategies on ALL aspects of marketing: http://www.mediaminister.co.uk/marketing_cfs_newsletters.htm

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Bold claim. But all my research and experience stands firmly behind it. (And so do I!)

Apart from hyperventilating at the mere thought of cold-calling a relative stranger (hey, I’m a writer!), it has been shown time and time again that marketing or ’selling’ to those you already know or have some kind of connection with will give you a much better outcome. 

That affiliation may be that you’re both members of the local chamber of commerce or an online networking group. You may have passed email messages. You may have both contributed to a post. Your prospect may have signed up to receive your ezine… 

The point is they will have some connection with you and it should be easier to do business with them. And when you do pick up the phone, you’ll be making a ‘warm’ call that is more likely to end in an appointment or whatever the next step in your marketing strategy is.

Ultimately, getting new business is about building relationships first — not making a quick cold call that usually results in an even colder reception.  ;-)

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Let’s say you’ve just spent the best part of your month creating and fine-tuning your core marketing message. How do you REALLY know whether it is likely to be of any interest to your target market? The research you will have carried out (oh, you didn’t — OK, straight back to the start! Do not pass ‘Go’ and do not collect £200!) is inextricably linked, but so is testing. But there is another, much simpler way to gauge its success . . . just ask yourself: “Would it be possible for anyone to say the opposite of this?”

Here’s an example of what I am getting at:

* Your message: “We firmly believe in always putting our clients first.”

* The opposite: “We don’t firmly believe in always putting our clients first.”

* Conclusion: No one would say the opposite (unless they were intent on committing business suicide!). So this gives a fairly good indication that your message is no-goer. Apart from being meaningless, it isn’t going to rub well with your prospective clients.

OK, let’s try a different message:

* Your message: “Our support team is ready to help you at all times.” 

* The opposite: “Our help desk closes at 11pm.”

* Conclusion: You could certainly say that your help desk isn’t always open. Not everyone can provide a 24/7 service. So your message is worth trying out. 

Of course, the more specific you are, the better the message. And the more you show how you differ from the competition, the greater the chances of your marketing’s success.

Try it and see — and DO let me know of any successes!

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You may have heard that “direct mail is dead.” Especially in the world of Web 2.0. But nothing could be further from the truth.

Quick statistic: According to Target Marketing’s survey on direct response, 34% of respondents said direct mail delivers the healthiest ROI for customer acquisition. (Email came in at a respectable 24%.)

Does that mean that YOU should use direct mail as a client acquisition marketing method? Not necessarily. 

• If you don’t yet have a product or defined service or indeed anything to promote, then direct mail is unlikely to benefit you right now. 
• It’s certainly not right for you if you don’t have a defined target audience.
• If you think of spending £10–£20 on postage as an expense, rather than an investment, then direct mail is not for you.
• If you want to develop a strong referral campaign, then direct mail might prove to be very beneficial.
• If you’re launching a new publication, then direct mail can be the springboard to its success.
• If you’re thinking of reaching your customers because your emails keep bouncing, then direct mail is likely to work for you.
• If you can see the benefit of combining offline promotion with online advertising, then direct mail will be right up your street. 

To get the most out of your direct mail campaign, I’d certainly suggest reading the works of David Ogilvy, Leo Burnett and Claude Hopkins. Many of their books will be available at your local library. You can borrow and review them without spending a penny.

Another way to gain F.R.E.E. insight into the aspects of success in direct-response marketing and other strong marketing performers is to sign up to receive my newsletter Communiqué for Success!

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Holding a competition is a great marketing tool, giving you:

• brand recognition
• positioning in the marketplace
• goodwill in the community
• publicity
• the ability to fish for product name ideas
• leads
• new customers and/or sales

It needn’t be complicated or costly to set up, either.

If you’re looking to build your customer base, then a simple ’send-in-and-win’ tear-off reply coupon is sufficient. You can do the same via email (”Send the answer to the following question to contest@yourdomain.com”). 

You can also get ideas for a new product or service. For example one of my colleagues is giving away $1,000 (approx £550) for the person to come up with the best title for his forthcoming book. This is all being done via social media. 

If you’re a life coach with a local client base, you can ask your clients and prospects to choose their best restaurant, doctor, supermarket checkout assistant, bus driver, milkman or postman and give away six months of coaching to the winner. 

If you’re a gardener, hold a “name that tree” competition, and then donate a tree or two to the local park in both your names. You can do the same if you’re a carpenter, only donate a bench instead… 

The ideas are endless. You just need to get a bit creative. 

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I heard on the news (BBC) this morning that supermarkets are spending more on advertising and less on branding, in an attempt to lure shoppers and defeat the credit-crunch fallout.

Does this mean that you should follow suit?

Advertising – whether it’s advertising in magazines, newspapers, the trade press or online – CAN be yield a good return on business. But it’s generally more appropriate for larger brands with the advertising budget to match their size.

That said, advertising DOES work, and it can work for you . . . providing you advertise the right things to the right people in the right places and in the right way.  

If you do wish to dip your toe in the advertising arena, then I would suggest spending your budget very carefully to ensure you receive maximum returns for your expenditure.  

My step-by-step, lead-generation system High-Powered Ads that Generate Sales reveals where to place your ad – and where NOT to advertise – as well as how to triple the results of ANY ad you write . . . guaranteed! For more information, point your browser to: http://mediaminister.co.uk/products.htm#HPA 

But back to the question of whether you should ditch your branding efforts. I think not. Branding is crucial to any business – at any time and regardless of the state of the economy.

It can reinforce your image so that you stay in your existing customers mind, as well as grab the curiosity of potential new customers. 

Central to effective branding is the concept of consistency. No matter what you do, you absolutely MUST be consistent with your core marketing message. That’s because you want your business image and brand to be easily recognisable, and you want your prospects to conclude that your company is a confident, credible and stable one.

To really strengthen your brand image, as well as being consistent, you should be educating your potential customers about WHY they should buy your product or service (no one likes to be sold, right?). The use of case studies and testimonials is a great way to achieve this. You’ll find plenty of other ideas in posts here on MarketingMoment.

So what about you? How are you educating your customers to increase sales?

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Perfect for testing an idea before making a commitment, a mini or condensed version of the standard marketing plan can prove valuable in a number of ways. Not least to analyse the year before, review where you are now and focus on what you wish to achieve over the next six months.

Start by heading over to this handy page where you can download a variety of one-page marketing plan templates – F.R.E.E. of charge.

By putting it in writing, you will identify tactics and strategies to help you with your business goals. 

Psssst . . . Not sure where to start? As well as offering worksheets and home-study tools, I can give you profit-multiplying advice and pointers on things you can do straight away to attract new business with my Powerfully Effective Marketing sessions.  

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