If you are in a for profit business you must have a continual stream of customers that buy what you offer. If you don’t have that working nothing else matters. Given that, what is your priority? Correct…Marketing!!
There are only three ways to increase revenue:
1. Sell more products or services to an existing customer
2. Sell the same amount of products or services to a customer at a higher price
3. Add more customers
When anyone visits your business that is traffic. When anyone who visits buys your offer that is conversion.
Recently, article posted here have been highlighting social media marketing for business. That arena is increasingly being used to generate traffic. I have helped many companies implement marketing programs that use a combination of tools including: a blog, a website, pay per click advertising, email marketing and more. These are all tools that work when used properly.
The landscape is changing with droves of people pouring into sites like Twitter, Facebook, YouTube and more. There are many people who claim to know why social media sites have become so popular but the reasons don’t matter. The facts are that there are huge numbers of people entering these sites and others like them for the first time each week.
Open up a Twitter account at Twitter.com and use the search feature at the bottom of the page and type in the keyword phrase social media. Then begin to click on profiles and discover how many people are referring to themselves as a social media expert.
Key Point: If your primary intent is to do business, having a growing network of connected people on Twitter or anywhere else for that matter means nothing if they are not buying your offer. You have traffic but they are moving on by and the conversion piece of the formula is missing. So when someone calls themselves an expert ask them to show you the profitable business they have developed using social media. Don’t be surprised at the lack of response.
We started from scratch and developed two businesses that are profitable and cash flow positive using only social media. Social media we used includes a blog for each business, and a network we grew on several of the larger social media sites.
There was a lot of work involved in doing this. I know because I did a lot of it and so did my business partner. Brian Campbell is the strategist on the detailed steps needed for this to work. Does this mean we are experts? It means we really have a lot of skills, and now systems, for building meaningful market share in important niche markets.
My Top Two Recommendations for Businesses Wanting To Improve The Effectiveness of Their Marketing
1. Building a contact data base is key. Effectively communicate with that list. This is not new and remains a foundation principle. It is still an alien concept for most companies.
2. Have a find tuned marketing plan, budget and return on investment monitoring in place and reviewed weekly and for some actions, daily. All activity must be focused on building traffic and converting that traffic.
The social media landscape is hot and getting hotter. But there are also other proven business development tools including pay per click, email marketing, print media, electronic advertising, trade shows and more. Each must be evaluated and tested in terms of benefit to your business. You can invest your time and that of your employees or outsource a lot of this. If you want fast results, outsource. If you do, again migrate based on priorities and test.
Sharing with all my readers the energy of peace, happiness and abundance
The Profit Expert
Email Steve to schedule A No Obligation Consultation On Building Your Business Profits. Let’s discuss how to use cutting edge Social Media Marketing, Internet Marketing and Direct Response Marketing in the revenue building cycle of your business to drive your profits sky high.
How To Increase Business Profits by 30% or More in 90 Days or Less