Posts filed under 'Internet Marketing'
In it’s most basic terms, marketing is the act of trying to get people to care about your business. Get them to care enough and they just might buy. The problem is finding enough people to care when no one cares. Clay Shirky in Here Comes Everybody
Having a handful of people highly motivated and a mass of barely motivated ones used to be a recipe for frustration. The people who were on fire wondered why the general population didn’t care more, and the general population wondered why these obsessed people didn’t just shut up.
This is because:
The number of people who are willing to start something is smaller, much smaller, than the number of people who are willing to contribute once someone else starts something. Many people care a little about causes and events, but not many care enough to do anything about it on their own, both because that kind of effort is hard and because individual actions have so little effect on big corporations.
But that’s now OK because:
Social media lowers the hurdles to doing something in the first place, so that people who cared a little could participate a little, while being effective in aggregate.
This is important in marketing your business on the internet because:
Now the highly motivated people can create a context more easily in which the barely motivated people can be effective without having to become activities themselves.
Get those less than loyal customers to engage with you, even if it is a little bit. Social media marketing allows your little brand to have a chance. Every extra person is another drop in the bucket that helps your idea to spread.
March 16th, 2009
The ability of increasing a customer’s connectivity to your business before and after they buy is a huge advantage of online marketing. In his book, The Tipping Point, Malcolm Gladwell explains the importance of a community in facilitating that connectivity:
If you want to create a change in people’s belief and behavior, a change that would persist and serve as an example to others, you need to create a community around them, where those new beliefs can be practiced, and expressed and nurtured.
He explains how John Wesley spread Methodism by traveling around England and North America organizing small groups. Rebecca Wells book, Divine Secrets of the Ya-Ya Sisterhood, went through 48 printings and 2.5 million copies because of book groups who flocked to it.
It’s easier to remember and appreciate something if you discuss it for hours with your best friends. It becomes a social experience, an object of conversation.
So now how is a community created? First start small:
Small close-knit groups have the power to magnify the epidemic’s potential of a message or idea. That’s the paradox of the epidemic: that in order to create one contagious movement, you often have to create many small movements first.
March 16th, 2009
You cannot manage what you cannot measure…And what gets measured gets done.” Bill Hewlett, co-founder of Hewlett Packard
This quote entails the essence of data driven Internet marketing. Do you know where your customers come from, how much the average customer spends or how often your customers come back? Powerful decisions can be made from looking at the answers to these few questions alone. You could target your marketing efforts to the places where most of your customers come from. You could try up-selling techniques to improve your average profit per sale. You could give your most loyal customers tools to spread your message via word of mouth to their friends.
Wal-Mart keeps track of the number of items per hour each of its checkout clerks scans at every cash register, at every store, for every shift as a means of measuring their productivity. These obsessive data gathering habits are at the heart of Wal-Mart’s strategy. A small business cannot afford to ignore the importance of marketing accountability and measuring success.
March 16th, 2009
Internet marketing allows you to get your business in front of the people most likely to buy. Weather its through improving SEO when people search for your service or product or PPC though Google’s content network, it works better than the traditional CPM strategy.
The vehicle with the lowest CPM, cost per thousand, is thought to be the best because it reaches the greatest number of people for the money. But this confuses activity with results. What does it matter how much you throw if none of it sticks? It’s not enough to place ads or have them seen be lots of people. What happens as a result? Did anyone buy the advertised product?
There are two metrics in advertising: reach and frequency. Reach is how many people see your ad and frequency is how many times it is seen. No single ad, no matter how well produced, is ever enough to sell you product. You need frequency to earn trust and you need trust to sell. With larger reach, the percentage of ideal customers that are interested in your product will be very small. A lot of money is wasted on people who are not in the market for your product.
As Seth Godin Puts it:
The more people you reach the more likely it is that you’re reaching the wrong people.
Christ Anderson explains the importance of targeting:
Sure, the traffic today is still mostly going to Facebook and MySpace. But as they struggle to target ads based on the faint signals of consumer behavior in a generic social network, the smart money is going to the niche sites, where laser-focused content and community makes targeting easy.
March 16th, 2009
Thanks to the internet, the barriers to entry have fallen. We are in a publish first and then sort-out-the-good-stuff-later environment. The gate keepers, who once had control of limited shelf space and limited TV stations, used that scarcity to their advantage by having a say in what made it through to the masses.
Now bloggers are the new gatekeepers. Instead of saying what should and shouldn’t be published, they create buzz and spread the word about what has been published. Most bloggers aren’t paid for what they do so a mediocre press release will not get their attention. The main asset that bloggers have is their audience and they will appeal to them fist and foremost. Any blogger that disregards their audience for the sake of making some cash to plug a product will loose their credibility with their audience.
First identify the blogs that actually do have an interest in what you’re trying to have featured. Use technorati. Read their blogs and interact with them. Post comments, submit useful articles that don’t necessarily have to do with your business and build a relationship. Then in time, with something relevant about your business, submit it with a personal note and it will be read.
March 6th, 2009