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Survive v Threat - Embrace Online Digital or Risk Your Business

Post by Admin , Aug 13, 2019.
Business Consultancy

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Introduction

There are a host of ways that a business can generate new customers some of which are very traditional and some are more innovative.

It is fairly easy to understand some of the more basic and traditional methods of generating new business as they are relatively straightforward. Whether this a shop front, B2B and B2C direct sales, commercial relationships and tenders etc it is often clear that you need to do and assessing success is relatively straightforward.

Where matters become more complicated and often daunting in the online space and how digital marketing and advertising can be managed effectively for your business to generate a return on investment that you are happy with.

It is an areas where money can be wasted but is also an invaluable source of business that really cannot be ignored.

Background

Unless your business is solely generating business from commercial contract or is so niche that competition is sparse it is very hard to ignore online as a method to sustain and grow your customer base. In fact, it could be argued that having a good online presence is essential.

It is firstly necessary to separate online advertising and online marketing.

·         Online marketing is the promotion of your brand, services and products to your target audience using general resources at your disposal which will include aspects such as: -

o   Blogs

o   Newsletters

o   Social media broadcasting

-  LinkedIn

-  Twitter

-  Google Business

-  Facebook

o   Search Engine Optimisation

·         Online advertising is the payment of fees to online resourcing to accelerate and promote your brand across various platforms

o   Search Engines such as Google with use of Google Ads

o   Facebook Advertising to boost your posts

o   LinkedIn advertising

Both are very specialist to ensure correct management and control of budget and ensuring return on investment but are used very different reasons and often overlap with the most successful campaigns combining both marketing and advertising services to ensure a business is able to connect with its target audience in specified locations to generate new business.

There can be absolutely no doubt that online marketing and advertising works. If a business has a negative experience it will tend to be due to: -

    o      The products or services you are selling do not gain traction online

    o      Your competition and their products are better than yours

    o     a poorly thought out and executed campaign

    o      lack of experience of those managing a campaign

    o      insufficient budget to compete

    o       insufficient time allowed to achieve results

    o      too many changes without allowing a campaign to take hold

Risk v Threat

The key issue a business should consider when deciding on whether to use their website and other online resources to promote their brand and services is whether they can afford not to?

Most consumers and many business owners will do their research online before making buying choices.  There is a wealth of information to be found on your business and its products some of which you will have put there and some you will not but there is no hiding from your online presence and reputation. You will have one whether you have a website or not and whether you pay attention to it or not.

The risk for a business which does not embrace online marketing and advertising is that your customers will and importantly so will your competitors.

It is a fact that to compete online and establish a presence is made harder (and more expensive) by your competition and the better they are at what they do the better you need to become.

A business that chooses to ignore online marketing and advertising to generate new business is gifting to their competitors an opportunity to be better than them and capture more of the new business from online resource.

                o The threat to your business is that your competitors will most likely be using online marketing and advertising to generate new business

                o The risk is that their business will flourish while yours suffers.

If you  are one of the lucky businesses that is able to generate work through wider commercial contract, niche services or have the budgets to buy in work this may be a less of a concern for you but if you rely on reputation and knowledge, as many businesses do, ignoring online is  very dangerous strategy.

What To Do

Online marketing and advertising does not have to be expensive. A properly thought out and put together campaign that ensures you are driving your brand and message to the clients and potential clients you want to engage with in specified geographical location will ensure you control cost and achieve results.

Campaigns will tend to be more successful if you combine the various aspects of online marketing: -

                o Search engine optimisation

                o Social media management

                o Content writing and distribution

                o Up to date website content and copy     

                o Geographical positioning

                o Tactical advertising spend

                o Email campaigns

                o Calling and engagement

                o Competitor analysis

                o Enquiry management and conversion

The requirement for a business is to ensure they understand what they want and what they expect from their campaign. Decide on your budget and establish what you can achieve for the budget you have set.

You do not need to spend a fortune. A campaign can be successful regardless of budget as long as you are realistic about the return on investment and what you are seeking to achieve.

This is a technical area and our advice is to seek advice and assistance from experts before you engage in online marketing. If you have a campaign that is not working you need to get help as it should be!

At Mr Green Consultancy we work with business to build successful marketing and online marketing campaigns.  

To find out more on how we can help you understand online marketing, put together a sensible campaign and be successful you can contact us on 02078421825 email us info@mrgreenconsultancy.com or visit our website.