Go The Way of the Horse and Buggy
Social Media and Online Marketing
Part 1 of 4
The very core of any business success lies in its marketing. Most aspects of business depend on successful marketing. The overall marketing umbrella covers advertising, public relations, promotions and sales. Marketing is a process by which a product or service is introduced and promoted to potential customers.
As most business owners know, you make PLENTY of mistakes during your business lifetime. Spending money on certain marketing vehicles is one of them. This is something can be easily contained and controlled when educated and aware of your marketing options.
What Are My Marketing Options?
If you are using the following avenues, your marketing strategy has gone the way of the horse and buggy!
Newspapers are a general mass marketing medium. It still exists today. However, readership is down for print media. Ad sales are down even more sharply, driven by shifts in reader habits and an overload of information that hardly allows us to absorb an ad. You rarely see anyone under the age of 30 physically reading a newspaper anymore. Depending on your target audience, keep in mind that the younger generation (and steadily growing older generation) are more likely to read something online or mobile device before ever picking up a newspaper.
Direct mail is a marketing effort that uses a mail service to deliver a promotional printed piece to your target audience . The biggest issue with direct mail is this one question: “Can you get their attention from the mailbox to the garbage?” You can spend a lot of money taking a stab in the dark without ever knowing if you got their attention.
Television advertising is expensive and (depending on your industry) pretty inefficient anymore. Most people put the tv on in the background or change channels when a commercial comes on. Also with ability to pause live tv and DVR, it’s way too easy to just skip all commercials in general. Not to mention the increased subscriptions to Netflix, Hulu, Amazon Prime, YouTube, Internet…
Advertising on the radio is another avenue that is struggling to attract an audience. How many of you switch stations as soon as a commercial comes on? Guilty. And that is IF I’m listening to the radio. With new technology, most people now listen to the likes of Spotify, Pandora, or music from their phones via Bluetooth.
Does anyone even know what “Let your fingers do the walking.” even mean anymore? With internet at your fingertips, the only ones suffering from the decline in phone books is your younger sibling trying to sit at the dinner table.
Landlines only exist anymore because you get a cheaper cable/internet rate when you bundle it together. I don’t even own a physical landline phone but I have the service! I think Seinfeld sums it up best in the following clip:
So What’s My Option Now?!
Social Media and Online Marketing
Social Media and Online Marketing is a cumulation of all the tried and true methods mentioned above, only better. It is an avenue for success when implementing your marketing strategy. There are several advantages to focusing on advertising and marketing via the social media realm.
The biggest advantage of using this avenue is that it’s free and it also allows for targeted marketing. The simplest way to market your business via social media platform is to talk about it on your “wall” or “tweet” or post about it. This hits your friends and followers directly.
There is also ability to dabble in paid advertising for extremely minimal investment (think $5 on up). However, you need to know how to make ever dollar, every click, every view count. The biggest mistake people make is they will create an ad for a social media account of theirs such as Facebook and set their target to be all of United States, or even all of Washington and leave it at that. Their thought process is that if they have a huge radius, it will reach more people and therefore equate to more leads.
This couldn’t be further from the truth. There is an old saying “let’s throw everything at the wall and see if anything sticks.” I like to refer to this as shotgun marketing. You are essentially blasting into the sky and hope that duck flies within that radius of pellets. The other method is called rifle marketing. You have a specific target, you look through the sites, you aim, you fire once. In this scenario you have a higher chance of hitting the specific target that will equate to a sale.
So How do I do Target Marketing?!
In Part 2 of this series I will go into further details on the Marketing Plan and Strategy as well as the implementation. I will go into detail on how you can go about getting that target. Stay tuned!