Online Marketing Success:
A Small Business Marketing Strategy
Online marketing success can be a huge when well managed, or it can be an expensive mistake when not properly focused. Even worse, many small businesses are not sure how their online marketing performs. For better results, use these small business marketing strategy ideas and help with an online marketing solution or two.
Set Your Online Goals
These are not those self-help visualization goals people make with their lifestyle coaches. These goals are physical milestones your prospects will meet while proceeding through your online sales funnel, such as the confirmation page following a sale. Google lets you set up your funnel in Analytics to track the progress of visitors on your site to see how far they go in the process before they bail on the sale.
To better customize the information, create special links in Google Analytics to use for different ad campaigns. Reports will show you how visitors from each link responded upon arriving at your site. You will know which ads and promotions yield traffic likely to convert and which are wasted efforts. (A great online marketing solution is to create more targeted landing pages to better attract the interest of prospects from a low converting source.)
Metrics to Measure
When calculating whether your online marketing success is real, there are some figures to keep in mind:
- Average value of conversion - this could be the value of an average sale or the lifetime customer value.
- Average cost of conversion - the number of prospects you need for a conversion times the cost for each prospect plus the average real cost of each product you provide.
For example, you might sell headphones online, have worked out that total cost is $9, and sell them for $15. Further, you find that Pay Per Click (PPC) ads cost $0.79 per click for your keyword.
You can see that if you need more than seven clicks to make a conversion, you will be losing money on the campaign. A small business marketing strategy would be to find a less competitive keyword, improve your conversions, or simply choose a different product to highlight in PPC.
Leverage Repeat Business
One way to improve your online marketing success is to use email, a blog, and social media to sell again to previous customers. Those who have already made a purchase from you are much easier to coax into another one. If you put a long term sales funnel into place, you will find that the lifetime value of a customer comes into play.
Set it up so the headphone buyer enters a marketing stream where your average customer spends $200 over the next two years. Then those $.79 clicks become much more affordable.
When to Say When
It's a tough call sometimes with your branding and SEO efforts, it takes time for a meme to gain traction. When it comes to PPC though, you have the data to track your spending to your revenue and hold your ads accountable.
If you have a well managed campaign, online marketing success is not only doable, but probable by taking and implementing one small business marketing strategy at a time. The first is take action one of the online marketing solutions explained here.
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This guest post is by Mila Johnson who knows that for your computer hardware needs, look for HP Coupons at Fatwallet.com.
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