Why Do We Need Marketing?
For anyone who runs a business of any kind, you’ll know that the true question is not whether we need marketing, but how much do we need? A store owner can have the best products available on the market, and a top notch staff, and they will still flounder financially if no one is able to find their product. Even word of mouth is a form of marketing. It’s impossible to simply put out a great product and expect to get financial rewards. As with any business, it takes money to make money. An investment in marketing is equally, if not more important than, the investments you make inventory and staff.
Why do Businesses Need an Integrated Marketing Strategy in 2019?
When you look at the marketplace right now, in terms of technology and business, it does not matter where you are, you need marketing. Every type of company needs marketing. Whether you are a small business, an ecommerce business, an attorney, or a doctor, you need marketing.
Many owners and company directors do not understand that word of mouth can only take you so far. The objective of a business is to grow and be profitable. As an owner, you have to take yourself out of the equation and look at your business, not as the owner but as an investor. If you try to sell your business, what would it be worth to an outsider?
Once you look at your business from an outside perspective you must ask yourself certain questions. Would you invest in your own business? Would you buy your own business? Why or why not?
Once you genuinely look from an outside perspective, you will see the faulty angles in your business. The number one thing that clients we speak to are missing is a good marketing strategy.
If people are not seeing your brand, seeing the problems that you’re solving, seeing your value proposition, or seeing your services and products, then you are not going to grow or make money. Sooner or later, some other company will steal that market share and value away from you.
In today’s world, you cannot differentiate a website from a content management system, from social media, from your technology, from software, from a CRM, or from an inventory management system. You cannot separate these things anymore.
We call this integrated marketing technology. Because your Facebook will be integrated with your website, and your website will be integrated with your CRM, then your leads will fall into your CRM. Your CRM will then communicate back to your QuickBooks or your zero account in terms of which leads are turning into sales, automated quotes, and automated sales processes. It goes all the way from very basic technology to very advanced technology where people are running multi-country operations on different platforms.
Marketing gets very complicated so you cannot separate anything anymore.
So what does marketing do to help make money for a business? That’s simple – it exposes people to your product and your brand. How many songs do you know just because you heard them on a Mac commercial? How many times have you found yourself craving a new food you just saw in a Pizza Hut ad? Marketing is an almost subliminal way for businesses to make customers aware of them. There’s a fine line between marketing and spamming, but a cleverly run campaign can make you a household name, sometimes even overnight.
Marketing can also have much less dramatic, but far deeper results than just those in the hit-or-miss channel of viral marketing. SEM or Search Engine Marketing is a proven method of creating a long term marketing campaign that will bring in exponentially bigger results as the campaign ages. Search engine marketing is generally accomplished through use of SEO, or Search Engine Optimization. The basic goal of SEO is to make sure that when someone searches for the product you offer, it’s your site they find.
SEO is far from easy. In fact, it is a very complicated discipline that can take years of study to master. If you are just starting out or you have all you can handle in running your business, it’s best to let an SEO company do all the detailed work for you. SEO can be incredibly tedious, and for most people, the time spent on SEO marketing is better used for other things. A great SEO Company can make certain that your targeted audience sees your site, clicks through to visit your site and ultimately converts, either by purchasing a product, filling in a form, calling you or subscribing to something; whatever the goal of your website actually is.
What happens when you don’t market effectively? When businesses find themselves in financial trouble, they often cut back on their marketing budgets. This hurts any business, because while you’re not marketing, your competition is. That means that fewer and fewer people are finding your product, and instead, they’re becoming loyal customers of your competitor. When you don’t market, the ‘out of sight, out of mind.’ rule applies. You will lose brand visibility, and even clients you had in the past may forget about you. A steady marketing strategy is important if you want to stay relevant, and if you want your customers to have confidence in your brand.
We need marketing to be seen, to be found, to create an interaction that will lead to the ultimate desired goal. Anyone with a product or service cannot expect that “if I build it they will come.” This may have worked in a movie but it won’t work online or offline. Of course, online marketing including website optimization like SEO and the Social Media provide marketers the opportunity to be found at the exact moment in time that the online buyer is actually ready to buy.
The Importance of Educating Your Marketing Clients
When we talk about the marketing aspect of what we do for companies, we look at certain numbers, analytics, their website, their visibility, their products, and their pricing. We also look at what they’ve done from a marketing standpoint. We want to know what their brand looks like. All the way from their business cards to how they are portraying their value proposition. It is very clear to us that many companies are leaving a lot of money on the table because of their marketing.
To our clients, we have to show that we are not just trying to sell them marketing. Instead, we have to educate them that with our marketing strategies they can be making more money.
By clients giving us access to their backend and analytics, we are able to actually pull data together and present something that isn’t just our word against theirs. It’s actual statistical data that’ll show them where they’re losing money, where they’re missing out, and where their potential is. We are showing them the gaps in their business.
You have to let these companies know that they are losing money. When you tell them they’re doing some things wrong, they’re going to take offense. They have been running their business for years and they’ve been generating revenue, but they could have been generating so much more.
You have to convince them to not be emotional about this decision, to be logical about the decision, because the numbers do not lie, the metrics do not lie, competitors do not lie. What matters is that they actually move forward with the marketing strategy and go from there.
How to Justify Your Marketing Costs
Every business owner should do their due diligence. They should do their research, they should do their homework and know a little bit more about what they’re getting themselves into so they can truly understand the difference between an agency that charges $50,000 opposed to one that only charges $5,000.
Business owners are emotional. They’re looking at their bottom line, they see where they’re at right now. We can understand that $50,000 may seem like a large investment to them. So, they’re going to go with the $5,000 option. However, we see that the $5,000 agency they went with lasted maybe six months to a year and then they come over to us, asking why it didn’t work out. We call this the pricing paradox here at Optimum7.
We would say 90% of business owners buy marketing like they’re buying an expense. You can’t do that because that’s the primary driver of your business to grow and to be more profitable.
What you should do is you should buy marketing as an investment, not as an expense. There are, unfortunately, individuals that will always do it this way. But when you buy on the price, you are actually going to lose more opportunity and more growth opportunity in the intermediate and long term.
Let’s say you’re a business owner and you generate $2 million in annual revenue, that means that you can afford to spend $100,000 on marketing. You truly can. You should be able to spend that amount on marketing, especially if you are in the digital space. You have to spend that kind of money if you’re looking for leads.
You can’t have a marketing strategy for $500 a month. You just can’t. But there are companies who are selling it. When you look at it as an expense, it doesn’t bother you, you’re just paying that on a monthly basis, and you probably pay that forever.
You can’t do SEO for $500 a month. It’s impossible. The content alone costs $250 to $300 per piece of content in a semi-competitive industry, especially if you want a good copywriter to write it.
So the essence of what we’re discussing is if you go too cheap, the price won’t bother you but you won’t get anything in return. This is what we see 99% of the time when people say they were burned. When you look at what the other company did, they just charged the credit card. They didn’t do anything, they’re not on the right system.
Choosing a Marketing Partner You Can Trust
The number one point where people drop the ball is marketing, because they don’t know where to start, they don’t know who to trust. The first thing you need to do is find an expert that you can verify and that you can trust. That’s step one. Whether it be a close friend, a friend of a friend or somebody that you just reached out to, you have to make sure that you can trust them. And they have to practice what they preach. Because somebody who does not or cannot do this for themselves cannot do it for you.
So the first step is you need to find somebody that you can trust, that you can verify, and somebody that makes sense when they talk. Somebody that can prove that they’re an expert in that field. Someone that understands business. Somebody that can understand what your bottom line is, what you’re trying to achieve, and who knows how to integrate the marketing aspect with your bottom line, with your business together.
Nowadays, you cannot do marketing, business development, or lead generation if you do not understand how business operates. That’s what we pride ourselves on here at Optimum7 because we don’t just do marketing, we don’t just do development, we don’t just do programming, we understand the business aspect all the way from services to supply chain to logistics to delivery. And it has to be done at this level.
So you need to have someone that not only understands marketing, but somebody who knows business as well. Now, you also need to tie these two together through technology. So, this individual needs to also understand marketing, business, and technology because that’s what’s going to tie everything together.
So we’re talking about an advanced deep consultation here and that advanced deep consultation is going to cost money. Somebody who charges one 10th of the price that the experts charge cannot give you that level of consultation.
If you don’t invest in your business, what else are you going to invest in? Stop being cheap with your business. Feed your business. You can feed your business with technology, you can feed your business with equipment. You can feed your business with people, with talent. You need to feed your business with marketing. Stop being cheap. And if you don’t know where to start, find one guy that makes sense.
Find one person that you trust and listen to their advice because you are too busy running your business, you are too busy doing what you’re doing.
Feed your business, make logical decisions, and most importantly, find the one person or one company that you trust. That’s your first step. If you have any questions, please let us know.
RESULTS WE GENERATE
Average Increase in Website Traffic
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We become an indispensable resource for our clients to drive traffic and leads.