Just in the last 60 days or less. What type of, (if any), paid or free promotional strategies or tactics, do you currently have in place? And are they working? Can you point to any measurable results?
And have you, or are you planning on doing any type of A/B split testing? And if so, to what degree? And going forward will you continue to invest your hard earned money, in any type of paid ad or promotional campaigns?
These are just a few of the extremely hard questions, you and your marketing/advertising data.Has to get some real answers to. And while your contemplating things.
Whatever direction your free or paid advertising/promotional campaigns are currently taking you in. Will your marketing plan or strategies, ultimately lead you to some bank account filling geometric growth? Are you currently stuck in the far less profitable, single new customer at a time) linear growth mode?
One proven strategy, literally skyrockets, both your short and long term profits. In practically any industry or niche it’s strategically applied in. And the other limits or slows down your long term potential growth. Which approach do you prefer?
So How Can Know If Your Marketing Plan Or Strategies Will Ultimately Lead To Any Type Of Bankable Geometric Growth?
Excellent question. Before diving head long into the fairly straight forward answer(s.) Take an extremely hard look, at an all too common, set of figures, for far too many profit seeking entrepreneurs.
Who are attempting to use some type of potentially expensive, PPC (Pay Per Click) advertising campaign. In order to cut to the chase here. Let’s say your ad, (and no) it doesn’t matter, “what” your particular product or service is.
In order to have a much closer look at both your ads final numbers and your overall marketing process.Please pay close attention here. Because “what” you’re about to discover. Once you start consistently implementing it.
Will definitely help you start consistently out promoting, your big buck major competitors. Even though your current or future advertising/marketing budget, is nowhere near as large as theirs. Are those marketing possibilities not interesting?
So What Does Your Advertising Or Marketing Plan Clearly Reveal About The Future Of Your Business Or Service?
Great question. But first. Let’s have a closer look at your ads numbers. So let’s say your PPC ad gets displayed 27,461 times.(The actual numbers are irrelevant. It’s the overall concepts you must grasp, in order to have a chance at being successful with your paid advertising campaigns.)
So your ads impressions were 27,461. And out of that, a mere 247 eyeballs, (for whatever reasons) decided to click your link. Which means this particular ad had an initial “Click Through Rate” (CTR) of 0.899%. Say what? (247/27,461 =0.008 x 100 = 0.899%.-Conveniently rounded off three places after the decimal.)
Not even a dismal one percent “CTR” rate. And believe it or not. This is about average. For newbie or very inexperienced marketers, attempting to use PPC, for the very first few times.
And unless or until they wise up and hire an expert coach or mentor, who has proven expertise in this particular area of online marketing. They or you, probably won’t experience much better results.
Especially licensed professionals. (Don’t mean to single you out here!) But licensed professionals, often seem to think, initially anyway. Because they’ve got advanced degrees of all types. Their intellectual intelligence, (or book smarts if you will),will allow them to write persuasive copy. And sadly, the brutal truth is. Rarely is this the case.(Their consistent dismal results prove it.)
Because learning “how to” consistently write persuasive copy of any kind. Definitely takes time and consistent effort, to develop some bankable skills.
Why Just Grow Through Linear Means Only When You Can Strategically Skyrocket Your Long Term Growth Through Proven Geometric Strategies And Tactics!
Now then, lets say you start pro-actively, A/B split testing your PPC ad campaigns. And with a little strategic tweaking and constantly adjusting. You run another advertising campaign. And once again, your ad gets displayed to the same 27,461 eyeballs.(Referred to as impressions.)
Only this time, you generate respectable 579 clicks. So your new CTR (Click Through Rate) is now 2.10% (Keep in mine, some of the top online, seven and eight figure a year earners. Routinely generate, between 1-3% on their most profitable A/B split tested, paid advertising or promotional campaigns. So consistently generating between 1-2% click through rates.
Is definitely getting it done. (579/27,461 = 0.021% x 100 = 2.10%. -Conveniently rounded off two spaces after the decimal point. Here’s the main point. As you or your major competitors, constantly measure and tweak your PPC or paid ad campaigns in general.
At the exact same time, you and your major competitors, are probably. Week after week. Month after month and sadly year after year. Scoring a giant goose egg. (Translated, a big fat zero in this one extremely telling stat. And “what” might this be, you so skeptically ask?
On any given week or month. How many, non directly competing vendors/entrepreneurs, are you consistently forming, some type of potentially bank account filling, cross promotions or strategic alliances (aka ) Joint Ventures ((JV’s) with? Huh? Bingo!
The More Viable Cross Promotions Or Strategic Alliances You Form! (The Less Money You’ll Need To Fund Your Initial Front End Traditional Advertising Costs!)
Case in point. Take a look at the screen shot image below. This is a recent email message I received, from a potential cross promotional partner.
Ivan Jurisic of webfactoryltd.com fame.He reached out, because we were both recently featured, in an expert “Round Up” post. About strategic link building.
And here’s a screen shot of the actual expert advice Ivan shared in the guest “Round Up” post.
So Are You Going To Continue To Try And Be A Solo Ranger Or What?
It’s an incredibly important question, you need to honestly answer asap. Take a look at the featured image with this particular post. It’s tweet, from the author who wrote a guest post for my blog. Then he shared it on his companies social media accounts.
Which means, his companies steadily growing audience, got exposed to my blog. New eyeballs, which cost me virtually nothing to acquire.Correct? Absolutely.
So here’s the $64,000 dollar question. Are you going to continue to try and build or scale your business or service, relying solely on your own money, resources or assets? Let’s hope not. Because if you are. At best, you’re building on a slow growth, customer by customer linear pace.
Not a mega profit boosting geometric growth pace. Which option do you honestly prefer? This is how you can definitely tell, if your marketing plan or strategies, is leading to linear or geometric growth. Don’t you agree?
Don’t Let Your Major Competitors Strategically Out Promote You!
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!
As always, if you got any value out of this post, please share this on your favorite social media sites or tweet this. Thanks!
And if you’re currently registered on Linkedin or twitter, and you’re serious about about doing some type of power networking. Let’s get connected asap!
Extremely important note: And if by chance, you happen to know any of the lesser known podcasters, who also target, small business owners, service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa! Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your gross profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.) It’s a $97 dollar value and it’s free!
Hey Mark,
Every business, small or large, will be more successful with a business plan. One key component of a business plan is the marketing plan.
The sales and marketing plan outlines each specific marketing event or action plan to increase sales.
Social media has become an essential part of businesses marketing plans because every type of customer is on some type of social platform such as Facebook, Twitter or LinkedIn.
In my opinion – though email marketing may not be as new a concept as social media marketing, it is an effective and popular choice for business owners.
A marketing plan is really important for developing a promotional strategy as it helps your business identify its target markets and to set measurable goals.
It is vital to the success of the organization that you implement a marketing plan that aims for growth and positive change.
Thanks for sharing your wonderful informative thoughts with us.
With best wishes,
Amar Kumar
Bravo Amar! So very well said.
The sales & marketing plans, as you so clearly articulated.
Need to be both realistic and clearly defined.
Equally important, as you so wisely pointed. Going
forward, some type of pro-active, social media marketing
strategies, have to become part of your overall
marketing plans and strategies as well.
Because as you pointed out. Your current and future
customers, are definitely on at least one or several
social media platforms.
And if you’re not being pro-active, as well as
strategic on these platforms. You’re definitely
opening the door extremely wide, for your
current and future competitors as well.
Great points as usual Amar! Thanks for sharing them!
They’re also welcome and greatly appreciated!