How Sometimes Even Smart Entrepreneurs Miss The Mark With Their Online Marketing!
So have you noticed, ‘how’ sometimes, even really smart, and truly sophisticated entrepreneurs, (just like you) still totally miss the mark, with regards to their online presence?
Unfortunately, you seem to see this all too common occurrence, happening a lot, with those mid sized small business owners, of the retail persuasion.
They will very often, opt for the really fancy, all dolled type of corporate brochure website presence.Which definitely cost a pretty penny for sure!
Which arguably, may or may not enhance their companies image. But whether it does or doesn’t, (one thing is for sure), those fancy brochure type of corporate websites, actually do very little, in terms of increasing the business owners, short and or long term gross profits! Ouch!
Let’s have a closer look, into ‘how’ these, (otherwise) extremely competent entrepreneurs, so often completely miss the mark, when it comes to learning and implementing successful online marketing strategies and or tactics.
So How Do Some Really Smart Entrepreneurs Totally Miss The Mark When It Comes To Their Online Marketing Strategies?
Here is an all too common situation, with regards to mid sized level corporations, with fairly large, monthly ad/promotional budgets, often totally missing the mark (big time), (time and time) again with regards to their online presence.
Let’s take your typical, mid sized, independently owned, retail jewelry outlet, which may have at least two, thriving locations within the city, where their currently located.
While they most certainly do their fair share of conventional, local radio, TV and Sunday edition newspaper ads etc.And their extremely active on both Facebook, twitter and Instagram etc.
And that’s all certainly well and good! Where they are absolutely leaving a ton of potential money on the table though, is by hanging on to their outrageously expensive, gloried brochure type of static website!
(Meaning; their current (outrageously expensive) website, may not even have a blog component to it.So they don’t constantly add any new (fresh), relevant content, to inexpensively attract and retain repeat visitors.
Because, since they’re not even aware, their outrageously expensive, corporate brochure style website and blog, should also be setup, to ethically bribe” a certain percentage of their daily online visitors, to join their opt in email/mobile marketing list.
They are relying on a measly one percent of their unique first time visitors, to decide to buy something on their very first visit! And the odds (unbeknownst) to them, are not too favorable, of that occurring to regularly!
Statistically speaking, if their glorified brochure style website, even converted (on average), just one sale, per every one hundred unique visitors, that would be an improvement, to what their site currently produces!
Which sadly, is about one sale of something, per every 1,500 unique visitors! Obviously you can see, their online sales conversion rate totally sucks, right?
How Really Savvy Marketers Strategically Leverage Th Enormous Marketing Power Of The Internet! (And How You Can Too!)
Sadly, while this extremely well funded corporate retailer, spends big money, every month, literally driving tons of semi targeted traffic, to their glorified brochure style of website, but because it’s not properly set up,to build their (all important) opt in email list, the vast majority, (99%) of their first time visitors, will simply, briefly glance at their site, (and here’s) the really sad part!
At least 99% of these first time visitors, will leave the jewelers, (and or) retail company X’s site, and they are never, ever coming back! And yet, these really smart entrepreneurs, who find themselves in this exact same situation, will simply continue pumping their hard earned dollars down this never ending rabbit hole!(Week after week and month after month!)
And not have a clue, as to ‘how’ much, potential, long term gross profit they’re consistently missing out on!(And of the other, potential long term back end gross profits as well!)
Simply because, they’re not offering, an irresistible market tested, “ethical bribe” of some kind, to their first time online visitors!
(Important note: Ladies & gentlemen, please refer to the screen capture image just below. Because it’s a sample lead capture page, made using the editor in my paid email service provider of choice, Awebers editing software. And it was created in all of 15 minutes!And the fancy HTML style button, was simply downloaded online and substituted, for Aweber-s far less impressive (default) “submit” style button! )
How Sometimes Even Smart Entrepreneurs Miss The Mark With Their Online Marketing!
Online Effective Lead Generation Strategies Are Simply A Must!
Now then, ( aspiring entrepreneur), going forward,’how’ many first time online visitors, (especially women!), who come to this extremely savvy jewelers,newly re-vamped, lead generating style website, do you think, will be able to resist, entering the jewelers monthly free drawing!
Just to play with some hypothetical numbers, in order to (hopefully) put things in their proper perspective for you.
Let’s say, with all the pro-active marketing activity and strategies, you’ll learn about in part two, let’s say the site consistently receives 7,500 unique (first time visitors) a month. And now, about 30% of those first time (and or) repeat visitors, decide to try their luck, and enter the monthly free drawing!
Which means (entrepreneur), now this extremely savvy jeweler, (and or) their major competitors, will be pro-actively building a VIP opt in email/mobile marketing list, of 2,250 subscribers per month! Nice! (7,500 x .30% = 2,250 brand new VIP subscribers per month!
(Or a whopping 27,000 opt in/mobile subscribers per year, minus the usual 1-10% unsubscribe rate!) (2,250 brand new opt in subscriber per month x 12 months = 27,000 brand new subscribers per year.Give or take.)
Here’s Where Your Natural Entrepreneurial Skills Really Come Into Play!
So in just 24 short months, (basically two years), or less, they’ve built an impressive opt in email subscriber base, of 54,000! (2,250 new subscribers per month x 24 months = 54,000 VIP opt in subscribers.)
Now, the jeweler, (and or) extremely marketing savvy retailer X, has 54,000 enthusiastic subscribers, to strategically and systematically follow up with, from now on, until or unless they unsubscribe!
And speaking of unsubscribing, let’s say, their unsubscribe rate, is just 7%! Which is not all that bad BTW! So after two years of constant, inexpensive testing and tweaking, the jeweler still has 50,220 VIP opt in subscribers to systematically follow up with!(54,000 x .93% = 50,200)
My Friend It’s Far easier To Lead Generate Than It Is To Sell!
My friend, going forward, (which overall online marketing approach), do you think, will yield the most, short and long term bankable results?
Continuously sending cold traffic, to a glorified brochure style-static- website. And hoping, at least a paltry one percent, or less, decide to buy something on their first, (and more than likely), very last visit to the jewelers website!
Or, offering an irresistible offer, to their first time cold traffic, by sponsoring a free monthly drawing! And then systematically following up with their online subscribers? I’m definitely with you!
I’ll enthusiastically go with approach B as well! And that’s how, so many extremely smart entrepreneurs (just like you), still manage, to miss the enormous, marketing leverage, available to them, via the Internet!Any questions?
P.S. Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
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Hi Mark
That’s a very smart use of a lead capture page to tempt people to optin to a list interested in a specific type of product.
For my own small business I need to come up with something that would cost me less money than the lovely necklace this jeweller is giving as his prize. Of course, he can’t measure his return on investment from opt-ins on day 1, it will come from sales he makes further down the line as he markets to these opt-ins.
For my own business, I need to work on something between the free time management ebook I currently give and the necklace!
Certainly something to think about. Great post.
Joy – Blogging After Dark
Joy Healey recently posted…Find More Time For What Matters In Your Life
That’s awesome Joy!
Thanks! And I’m quite certain, with your creativity
and proven, real world marketing smarts, and a little strategic
testing and market research, you’ll uncover something really
cool, for your target audience.
And just think, you can create, either a blog post, or series of
blog posts, revealing the details, of how you reached your conclusion
of what to giveaway!LOL!
I’m quite sure, your target audience will love that sort of
insider sneak peek!
Thanks so much for taking the time to
stop by and share your extremely helpful insights.
It’s always good to hear from you!
Mark Newsome recently posted…How Sometimes Even Smart Entrepreneurs Miss The Mark With Their Online Marketing!