1999. We look back on that time longingly. In many ways the world and our lives were much simpler. Terrorism was something that only happened in countries thousands of miles from us. We had a soaring stock market thanks to the ‘dot com’ boom. Real estate values were starting their astronomic rise. The unemployment rate was only 4.2 percent.
And, marketing was much simpler.
As a distributor or manufacturer in 1999, you could rely on a handful of simple marketing tactics to grow your business. At the heart and soul of your marketing efforts were face-to-face sales. Pounding the pavement and calling on customers was the tactic most relied on by industrial companies.
“Radio Interview: Online Marketing on a Limited Budget”
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If you think of marketing merely as an expense, chances are you’re doing it wrong. You need to think of marketing an investment that should produce a measurable return in the form of qualified leads and bankable sales. Just as you would carefully review the return on investment for stocks, bonds and mutual funds in your retirement portfolio, you need to carefully evaluate the return on investment in your company’s marketing portfolio.
So, what type of return on investment should your marketing produce? Well, your marketing should produce a measurable return in four ways.
80% of business decision makers prefer to get information from articles not ads.
Watch Bob DeStefano explain how to profit from content marketing.
This may sound like a ridiculous statement, but all too often industrial companies do not design their website for their customers. Rather, they take an egocentric approach to web design, more interested in talking about their products, their history, their news, their events, etc. While that information may be important to them, it’s not necessarily what their customers are interested in.
People are not visiting your website to kill time. They are visiting to find a solution, answer a question or take the next step to do business with you. So, to be successful, you need to create your website for your customers – not you. If your website does not serve your prospects and customers, it is not serving you either.
The average B2B marketing budget is about 2% of revenue.
Lead generation consistently ranks as a top priority for B2B companies. However, most companies handicap their online lead generation efforts by relying on their Website’s ‘Contact Us’ page as the sole method for prospects to take action.
To turn your Website into a money-maker, put the following proven recommendations into action. I have seen many companies more than triple their sales leads with these tips.
72% of B2B purchases begin with a Google search.
Word-of-mouth is not what it used to be. Just 10 years ago, upset customers or raving fans could spread their opinion about your business only to their family, friends, neighbors and work colleagues. Now, thanks to social networking and the infinite publishing power of the Web, customers can share their rants and raves instantly with a worldwide audience.
In such a connected world, your online image is everything. And if your online image is tarnished, performing the following key business functions will become much more difficult:
To be successful online, there is a paradox in marketing you need to embrace: The smaller your target market, the bigger your opportunity. This may seem counterintuitive, because you may think marketing your business to the widest possible audience – trying to be all things to all people – is the best way to succeed. But if you say your target customer is “everyone,” you are really targeting no one.
To put it another way, when you try to be all things to all people, no one will remember you.