Many companies make the mistake of relying on free advertising. Clear statistics show though the ROI is much better from paid advertising.
Free advertising has a great appeal especially if you lack a marketing budget. And yes, there are some good resources that you should use. You should certainly be loading social media sites with content. You should not depend on it though as paid advertising usually means you have far greater impact and can target more exactly the exact profile you are looking for.
Jon Penberthy the leading British Guru of online marketing compares it to crossing London. Yes, you can walk for free, but an Uber will get you there quicker and fresh doing business whilst your competitor is still walking. So free media alone can actually hold you back and keep you small struggling from deal to deal.
Do not jump quickly though into paid advertising. Lots of providers will sell you their media but you must pick the ones that are right for your product. Your inclination will be to use the tried and tested that you have always used. This need reviewing.
You also need to break out of the sales thinking of wanting an instant order, nice as that is. Research shows for most industries paid advertising looking for instant results does not work as well as soft approaches that build into a funnel.
For example, take any type of seminar/training event. Most newbies advertise their event and include a ticket price probably through a service like Eventbrite. Experienced seminar providers have found that they should target their exact profile first on say Facebook but just ask people to “Register an Interest” and that puts them into their funnel. Why. Well because imagine I was running a seminar this Saturday on say Investment. Tell me how excited you are about it on a scale of 1 to 10. Some 9s and the 10s will consider buying a ticket. Even they thought might think about it or become distracted before ordering. But everyone over 2 out of 10 on their score, will register an interest. You now have a much larger and qualified database of which you can develop a relationship and build that 2 to 3 to 4 to 5 to 6 etc. Keeping in touch through your funnel will eventually convert far more people. You now own that database and need not pay advertising to reach them again and again into the future. In traditional sales you may remember, ‘the rule of seven, which stats on average each customer takes seven communications before they become a customer. Funnels just automate six of those.
Yes, you are paying for advertising and the funnel design, but this will be much less that all the sales and customer service people you need to cover these functions. It leaves you with higher productivity and much lower fixed costs. This in turn makes your business far stronger and secure.
To discuss where you should advertise and producing a value eBook for you that leads into a funnel call me Alex McMillan 07525-916574 firstname.lastname@example.org
Or contact our Digital Director Penny Coggins on email@example.com 07743-903682