Marketing Or Gambling?
Marketing Or Gambling?
I cringe at the thought of an agency throwing their clients hard-earned cash into a bottomless hole in the ground before getting the basics of marketing right. Read to the end of this article and you’ll get a gem of advice that every SME business is neglecting. In fact, most large businesses are neglecting this too.
As we all know, many SME’s are barely keeping head above water and every dollar counts. Many business owners have been caught in the past by quick-talking salesman who promises the world, and when the results don’t pan out as anticipated, the business owner feels a stabbing sensation in their chest. They grow wiser and perhaps become a little gun-shy toward the next strategy presented to them. It seems like many marketing services are purchased on gut-feel or out of the desperate need for more sales. The business owner knows they need to do something, and when a smartly dressed negotiator presents an idea, the business owner crosses their fingers, closes their eyes and gambles for a pay-off.
So how do business owners know what marketing service gets the best results?
Most marketing methods are too broad for a small business owner to take a significant gamble on. An excellent branding project undoubtedly has merit, but the results aren’t tangible. Branding works by stealth; you often won’t know if your brand is directly contributing to the dollars coming in the door. It’s a gut-feeling.
There’s an old saying that agencies and business owners recite;
50% of my marketing works, I’m just not sure which 50% it is.
SME’s should try and avoid the marketing methods that promote a shotgun approach. A shotgun approach is best described as;
It’s like pointing a shotgun in the air, pulling the trigger and hoping it will hit something.
For an SME, it’s critical that If you spend a dollar, you should be aiming to return at least three. The good news is that with today’s modern platforms, such as Facebook, Linkedin, Snapchat & Instagram, it’s never been so easy to target specific audiences. If you want to promote your B2B services, then Linkedin can target individuals by job title. If you want to target 15-30-year-olds, then Snapchat is perfect and seems to be underpriced at the moment. Facebook has created the most powerful advertising platform the world has ever seen.
Gary Vaynerchuk is a world-renowned influencer to follow. Subscribe to his channel on Youtube if you wish to learn more about marketing, and stay current with the rapidly changing trends in social media.
Lastly, everybody seems to be neglecting two very simple foundations of having a digital presence and guess what; they’re free.
We live in a world of reviews and fake news.
Think back to the last time you purchased a toaster online. You probably raced onto to Amazon and read the reviews because we’ve all been burned in the past when buying online. We desperately want to ensure we’re making the right choice protecting our ego’s from being fooled for a second time.
You’ll spend a substantial amount of time researching what others say about the products you’re about to buy, even though you’ve never met these people, nor respect them. That’s a powerful thing to observe. If there are 238 positive comments, then the chances are that you’ll avoid disappointment.
Here’s the question, how many Google reviews does your business have? How many of your competitors are also neglecting reviews? Is there an opportunity for you to capture dominance in your industry of this long-lasting digital asset?
Not all businesses want growth through customer reviews because they operate at capacity, but for those who do, Google’s opinion of your business is essential. If you play the Google game, there’s a chance that you’ll benefit significantly from it. Ask yourself this: Why are you considering expensive monthly marketing services when you’re neglecting one of the most valuable, yet free assets that your business could have?