According to fundra, there is over 30.2 million small business in the united states and many fail every year. Without a Marketing budget, your business will not be able to compete with the ones that do invest in marketing.
We all know how difficult it is to start and keep a business profitable year after year. Take a look at these statistics:
Marketing is important for businesses because 20% of small businesses fail in their first year, 30% of small businesses fail in their second year, and 50% of small businesses fail after five years in business. Finally, 70% of small business owners fail in their 10th year in business.
I guarantee that the large majority of businesses that survived the 5-year mark have a budget set aside for marketing.
Marketing for your business in this day and age is not like it was before. Marketing consisted of billboards, radio ads, television ads, newspaper ads, magazine ads, and mass mailers to neighborhoods.
All these strategies are still used and are viable marketing strategies. But they all are antiquated and worst of all they are expensive. Gone are the days when you had to spend a thousand dollars just for a page or half a page in your local newspaper or your local magazine.
People no longer watch commercials, everything is recorded and watched afterward. Everyone skips the commercials and yet the huge companies are spending millions on marketing just for the chance that you dropped your remote and you have not skipped their ad.
How long before these big brands start realizing that people’s attention is no longer where they use to be. Once the big companies start spending their huge marketing budgets on the new marketing platforms it will drive the cost to run ads on platforms like Facebook, Instagram, Google, Bing and Pinterest through the roof. And your opportunity will have passed you by just like buying Bitcoin for half a penny passed you by.
At this present moment, you can reach thousands of potential customers for pennies on the dollar for what it would cost you to get the same type of exposure you get from running marketing campaigns on television, radio, newspaper and magazines.
Now you have Google, Bing, Facebook, Pinterest, Instagram, LinkedIn, Twitter, tik tok. Those are just a few of the new age marketing platforms. The industry you are in will determine what marketing platforms best suit you and your business needs.
These platforms can be used as fast as today. Marketing is all about understanding your audience and getting their attention to inform them about how you can make their life easier or by letting them know that you can solve a problem they may have.
To get their attention diverted to your business you will need to go where their attention is currently being consumed at. Walk around and pay attention to what people are giving their attention to. We all know that is is to their smartphones. But what EXACTLY is your customer doing on their smartphones? Knowing the answer to that powerful question can make you thousands of dollars every day.
Your ideal client is spending their time on one or a few of these platforms. Your objective should be to market to this person. Disrupt what they are doing and let them know what your business is offering. Do this in an entertaining way that catches their attention and you will win.
The Power Of Marketing On Google And Bing
Some businesses have a wide range of demographics when it comes to their clientele. Let’s take a lawyer for example, most people do not care to take the time to research local lawyers in their area. Until the day they need a lawyer, then it’s a scramble to find a local lawyer fast.
If that sounds like what your typical client does before they search for your services, Google and or Bing will be where you will want to start your marketing campaign. Again let us use the example of a lawyer. When someone needs this type of service they will go to the internet and search for a lawyer near me or lawyer in this town.
With powerful and persuasive ad copy the potential client will click on the lawyers’ ad and be directed to their website. It’s a win for everyone, the client is happy because they have someone who can solve a problem for them and the Lawyer is happy because he can get paid.
According to internet live, there are over 3.5 Billion Google searches every day. With the help of marketing, you can get a piece of that action.
No matter how small of a business or how specific or special your services are, you have competition. To stay in business and grow your business and bring it to the next level, you will have to embrace marketing.
Marketing can bring people to your business and bring brand recognition to your business name and that’s when you start to separate yourself from the rest.
With brand recognition, your business will grow and have longevity. Search engines like Google and Bing will get you the clients today. The client that takes the time to type into their search bar “local lawyer” or “local chiropractors office” have a problem today and they need it fixed immediately.
When you advertise your services by use of a search engine, you potentially can get clients into the door that same day. This is usually because, when someone searches for a specific type of service on a search engine, it is because they need an issue resolved immediately.
With over 3.5 billion Google searches I highly recommend having a marketing presence on Google’s platform. You do not need a large chunk of that traffic to make your business large amounts of money. You only need a small straw to fill up a cup and your business will be extremely profitable. Think of it like this, Google searches is the ocean and you just need to tap into a small portion, just enough to fill your cup.
Bing is often forgotten about because of Google’s success. But bing is number 2 and the numbers Bing has is nothing to laugh at. According to Quora, there are 873,964,000 million Bing searches a day. Yes, it is less than a third of Google’s search volume but it is still a huge number. To advertise on Bing is priced appropriately, so if you are on a tight budget, starting your marketing campaign with Bing is a good idea and will get you results.
I hope this helped you understand the power of having a marketing presence on these platforms. The search volume should not and can not be ignored. If you do, you are letting clients and profits walk out the door every day.
The Power Of Facebook Marketing
According to Social Media Today, there are 2.3 Billion active users on Facebook. Facebook is number one when it comes to social media. Cron states the average age for a Facebook user is 40.
According to Facebook stats, there are 1.6 billion people that log into their Facebook accounts a day.
If your typical client is around 40 years of age, chances are that their attention is on a social media platform. There are a few different social media platforms and depending on what your typical plant is will determine what platform is best for you and your business.
The benefit of running an ad campaign on Facebook is that you can target a specific audience. Through the Facebook ads manager you can select a specific demographic, whether it be male or female, age range, location Income Level.
The value comes from selecting specific interests that you want to target. For instance, if you sell jewelry you can target women that show an interest in jewelry. This is extremely powerful and effective.
If you are a massage therapist an interest that you may want to target is back pain. On Facebook ads manager you can target people who have shown interest in back pain on their platform.
This marketing strategy is good to build brand recognition which translates to brand longevity. It is good because it will allow for the local market to be aware of your services. Keep in mind that, marketing campaigns on Facebook are usually for future customers.
On Facebook, you can also create what is known as a Facebook group within your industry and/or niche. This will allow you to build a following in your local area. This is all good for the brand longevity of your business.
People do not normally go to Facebook when they require a particular service. That is still done on Google or Bing’s search platform. But Facebook is still a force to be reckoned with and should be used and not ignored.
The power of marketing on Instagram
The average age of users on Instagram is 34 years old according to Instagram stats, and there are 500 million people that log in to Instagram stories each day.
The numbers are smaller compared to Facebook. But Instagram has a unique platform that can have you target specific types of clientele that may be using the platform.
Instagram is good to target a younger clientele and it is exceptionally good to target women who show interest in the fitness industry.
The key is to know your audience and know where your audience’s attention is. If you are successful in diverting the perfect client from one of these platforms over to your website consider it money in the bank.
On Instagram, their stories feature has been a huge success. Getting a person’s attention while they are on Instagram stories is not difficult to accomplish.
The bottom line is that running an ad campaign on Instagram stories is quick easy and effective.
The power of marketing on Pinterest
According to Pinterest stats, there are over 10.7 million users a day on Pinterest. It is another great platform for your brand to build recognition and to get clients in through your doors to increase your profits.
Marketing on Pinterest is simple and easy. The best thing about running an ad campaign on Pinterest is that the ads blend into the platform’s content seamlessly. That is important because the end-user does not like to see ads and will be hesitant to click on an ad. So the click-through rate for your ad campaign on Pinterest is going to be relatively higher than the other platforms.
Once again I cannot stress to you the importance of knowing your clientele. Pinterest is good for do-it-yourselfers and anyone interested in Home décor.
Get to know your clientele and where their attention is being directed to. Each platform is unique in its way and should be used accordingly.
Best way to start marketing your business
The best thing to do is start by getting your business cards then get a website. Without a website, you are none existent in the eyes of the all-mighty internet. A website has taken the place of brick and mortar stores, in other words, a physical location.
Once you have your website optimized for Google and Bing, you can start to advertise on these platforms. Just by doing this, you will be marking a huge difference in your business’s success.
The marketing campaign is just the 1st step of the sales process that you will guide your potential clients through. Your website plays an important role in this sales process.
If you need help with a website contact us and we will give you a free personalized marketing strategy plan area we oftentimes build websites completely for free. An investment of a monthly hosting fee is all you will have to invest in your marketing to start. The hosting fee is under $50 a month, with that small of an investment you will be able to generate a lot of profit for your business.
The last piece of advice I want to leave with you, remember that marketing should have at a return on investment associated with it. In other words, if you spend $100 in marketing you should be able to get back more than your $100 invested into its various.
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Do I need to market my small business?
20% of small businesses fail in their first year, 30% of small businesses fail in their second year, and 50% of small businesses fail after five years in business. Finally, 70% of small business owners fail in their 10th year in business. As a small business owner you need to stand out from the competition. Marketing is a must for any business no matter how small. Click here to read more and to find out about our promotional giveaway of a complete website.