What's up subscribers & hi mum! Today's video is about the top 5 reasons why I see businesses fail when advertising online after working with over 100 different businesses.
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Summary of this video:
Make sure to stick around to the end because I’ve got a bonus segment where I show you how you avoid all these errors businesses make, which can make you a whole lot more money.
INTRODUCTION
Lesson No. 1 - Businesses Owners Suck At Marketing…
There are 3 channels businesses can use to acquire customers:
Referrals - For example, Billy down in the pub tells Jono that you’re soap fragrance is fire… so Johno decides to buy your soap.
In other words, someone has advocated for you and this has resulted in a customer.
Outbound Marketing - Every spoken to Kutoot over the phone about a new internet plan you should try. Yep, that’s Outbound marketing.
Prospecting is its more socially acceptable term, and can be done strategically using social media, email & yep… cold calling.
Inbound Marketing - This is what I do… Creating a logical, process where prospects can find your business and be nurtured into repeat buyers & advocates.
In other words, marketing in a nutshell.
Most businesses can do option one & two… but when it comes to inbound marketing, we’re back to pouring water into a bucket with holes.
Firstly, business owners are still negligently living in the past, spending more money on radio, print & TV advertising than Kylie Jenner on lip injections.
Secondly, and something most business owners today might disagree with - websites are dying, if not already dead. They act as great store front features to show off your shiny products or services, but using them as an online salesman is kind of like asking a non-english speaking, Puetorican man to yell at your customers, while trying to sell your products … it’s loud, annoying and nobody in God’s green earth understand what the hell you’re trying to convey.
Last, but not least - business owners are too attached to their own core products to market them.
Marketers think like this: what’s the customer I’m trying to communicate to, what’s the desired outcome they want, and how can I deliver on getting them to this outcome?
Business owners think like this: I’ve got my product patented, and the website domain is set up - now, how can I market product to my desired customer?
See the difference? Marketers are consumer centric, while business owners tend to be product focused.
What’s the take-away? You’re either a business operator, a marketer, or somewhere inbetween.
One likes to get their hands dirty creating, testing and hustling, and the former like myself loves formulating strategy to expand & grow…
Both together love seeing that sweet, sweet doe coming in for the business.
So become self-aware of the kind of entrepreneur you are, and find the other counter-part - whether that be partnering with someone, or hiring someone, to fill in the gaps.
Lesson No. 2 - Facebook Ads Don’t Sell Business Products/Services...
A lot of businesses rely heavily on Facebook ads to actually sell their product...
Here’s the fact, Facebook ads work for every business… irrespective of everything you’ve heard - if you run a Facebook ad to the right audience, with the right ad text & a good enough creative (i.e. image or video) - people are doing to click on your ad. Period.
However, Facebook ads DO NOT sell your products. Your landing page, or the web page where Facebook users land after they click the Facebook ad - is the salesman or woman for your product and/or service.
What’s the take-away? Don’t use that sketchy website your best friend's Uncle built you for your online soap store.
Lesson No. 3 - Businesses Suck At Converting Leads
Deloy the following sales strategy. Hire someone, if not yourself, who are committed to following up all leads that come through to the business. Period. Leads are 10 x more likely to answer the phone if you call them within the first 5 minutes, so be quick to get in touch.
Use a Customer Relationship Management (CRM) System to manage, contact and promote to all your leads & current customers. I recommend Active Campaign… it’s cheap(ish) & one of the most powerful tools on the internet for Salespeople.
Lesson No. 4 - Your Product Is Irrelevant If Your Offer Sucks...
If there’s one thing you learn out of the entire video, know this, your PRODUCT is different from your OFFER. A product is simply a product. And the product is not good enough to sell.
What’s the take-away? To get people into the door, have an irresistible offer with a perceived value so high to your target audience that it’s a no brainer not to buy.
Lesson No. 5 ... BONUS ... watch the video to see :)
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