Wednesday, December 6th, 2023
What’s an epidemic is that over 90% of all new businesses online, will fail within the first 120 days. A statistic that many are up against, but don’t really need to be. But the numbers don’t lie as the causalities mount, as many will sabotage their own success from the outset.
The issue becomes that the majority of small businesses, think they have an effective plan when marketing their business.
The reality is however, they’re just slashing and carving away their own opportunities and potential to bits.
What’s vital, is that a proven fail proof business plan needs to be formulated and in place from the beginning.
The fundamentals and the mechanics of the business and marketing plan needs to be in place.
This includes running budgeted streamlined ads into a sales funnel, this in the attempts to attract targeted leads and customers.
Writing routine unique content for the blog is also needed, this in the effort to position themselves as an authority in their industry.
Most however, are just there doing an adequate job marketing and managing their business on a daily basis.
Basic Marketing Done Right
Most are doing most of the things right, yet are still not successful.
What’s needed are all of the components to be in place and perfected, and not omitting certain segments. Otherwise, they will just become another statistic in the negative.
Not Having A Fail Proof Marketing Plan
What a well structured business plan does, is focuses efforts allowing to maximize one’s marketing budget.
Unfortunately, what most will do is begin without a plan, as they forgo this step, thinking it’s easier to make decisions on the fly.
So before you begin, what’s needed is a precise proven tight plan, which outlines a precise step-by-step attack on your marketing actions based on your budget.
This plan should be reviewed and revised on a monthly basis, as your revenue grows.
A Written Marketing Plan On Paper
What successful business owners have are written goals, along with objectives for what they’re wanting to achieve.
They document all of their marketing activities, the wins and the losses. This may be dry and boring to some, but it’s a necessity.
There’s indisputable proof, that once you take the time to put your goals into writing, there’s a higher chance of success, over those who don’t bother.
Also, there’s no way of developing a plan, unless there are “concrete” objectives. What you need is a clear vision, timeline, and targets to aim for.
You can’t possibly determine what type of marketing you’ll do, if you have no idea what you’re targets are.
Having Long-term Plans
Those who settle on short-term results are reactive in nature, while on the surface it appears they’re doing a good effective marketing job.
They don’t however bother to do anything consistent, or anything long-term to get measurable results.
They expect instant results, from running an ad or contributing to their blog.
Nothing happens, then they get discouraged, disheartened and give up, or try something different. They claim Affiliate Marketing isn’t for them.
Then there are many who will do absolutely nothing, which doesn’t cost anything, while others quit too soon which becomes expensive.
What the statistics show, is that consumers need to be be exposed to a product up to 8 times, before they take notice or take action.
So your potential customer most likely aren’t exposed enough, as most marketers will give up too early.
Know Your USP
The most common and worst way most marketers sabotage their success without even realizing it, is they don’t have a clear concise Unique Selling Proposition (USP).
The greatest marketing plan in the world won’t convert, if there’s no clearly defined reason why someone should buy your product.
Give a reason to them, to consider your product instead of the multitudes of other products that are available to them.
If you haven’t yet decided what your USP is, which is something that’s unique or why your offer is better than what your competition has, then create one.
Develop a compelling competitive edge that you have, along with a way of establishing this brand in everything you do.
If you don’t have one, you’re wasting your marketing time, effort, and budget.
Ways To Improve Marketing Effectiveness
• Develop A Written Marketing Plan – Make sure your number one priority is to develop and maintain a workable marketing plan every month and on a yearly basis
• Written Objectives – Write objectives stating the results you want to reach in your business in the upcoming year. Write one objective for every marketing activity you undertake, stating exactly what you’re looking for when taking that action
• Stay On Course – Always be checking your progress towards your objectives every 1 to 3 months, while giving your long-term plan up to 12 months to take effect
• Determine What Your USP Is – Formulate what your unique selling proposition is, and make sure that it’s represented clearly and in a compelling way in everything you do
• Don’t Try To Please Everyone – Never be “everything to everyone.” Focus directly on just a few specific benefits to a specific niche audience
• Keep Track – Make sure that you concisely track all of your online marketing activities, this so you know exactly what’s working and what’s not working
• Diversify Your Marketing – Never rely on just one marketing activity or strategy. Employ a mix of several different marketing tactics to reach more targeted consumers
• Develop A System – Have a systematic way on how to help yourself stay on track with all of your marketing activities. Find what works to help you formulate your future plans
• Have A Realistic Budget – Base your budget on a percentage of your projected revenue, or the funds that you have available for marketing, and then stick with it. Marketing is an investment, but is also hit and miss. You need to spend enough to make progress, but not more than what your business can support
• Understanding Your Demographics – Know the environment, economy, and competition, the strength of your industry, and your prospects situation. You need to have a firm grasp to create an effective plan, to overcome obstacles while taking advantage of opportunities