The majority of small business owners in 2020 understand the importance of having a strong online presence. The problem is there are so many marketing professionals and advisors out there with an abundance of theories on how to maximize your company's exposure both online and offline. How do you know who to listen to? Are they staying up-to-date with trends? And are they holding you personally accountable?
In this blog, we'll discuss how listening to the wrong advice can decrease your ROI (Return On Investment), leaving you frustrated with the results your business is getting.
Are You Receiving Advice From the Right People?
Since 64% of small business owners revealed they are making a concerted effort to implement SEO into their marketing strategy, this shows that most small businesses understand the importance of SEO. If so many marketers and small businesses realize this, then where are the results? Small business owners are spending their marketing budget on employees or companies to produce increased revenue, yet aren't receiving a return on their investment.
An unsettling stat we recently discovered stated up to 88% of small businesses are receiving poor marketing advice. With unlimited resources at our disposal, this came as a bit of a shock. But that might actually be the underlying issue. Too many sources have made it difficult for business owners to decipher the good from the bad.
Make Sure Everyone Involved is Staying Up-To-Date With Marketing Trends
Unfortunately, many small business owners are being told the best way to market their business (online and offline) is to get their logo in front of as many people as possible without a detailed strategy. Why is this a problem?
2. Difficult to track
If you're producing an ad or any other type of content without a strategy or targeted audience, how do you know who to direct the writing, image, video, newsletter, etc. toward? Original, targeted and strategic content marketing has proven to be three times more effective when generating leads than other general types of marketing.
Example: ROI= Net ROI (0) / $500(Cost of Investment) x 100% = 0% ROI
If you don't value your marketing dollar, the example above can happen in the blink of an eye. More than 50% of marketing teams don't track their workflow or analytics. How can they obtain the true value of their work if they don't keep track of the work they produce? Simply put, they can't. They rely on busy business owners not having the time to educate themselves on what it takes to develop an effective marketing strategy.
Holding The Business Owner Accountable
For many business owners, this might be a hard pill to swallow, but a marketing team that's in your corner will hold you personally accountable for the needs of the marketing team. After all, a good marketing agency wants whats best for its clients. So, What do we mean by this? We've learned that an effective marketing strategy requires original content. Willingness from the business owner to allow the marketing team to have access to original content is imperative. This requires consistent communication between the two parties, such as;
- The topic of a video discussion
- Campaign promotion ideas
- Website updates
- Exclusive social media content (behind the scenes)
- On the Job Images
These specific elements will allow a great marketing team to maximize your marketing budget with them, which will help you attain the best ROI, both short and long-term.
Master Website Planners
As a small business owner, a somewhat diluted marketing industry can make spotting the good, bad and ugly very difficult, and hopefully this blog has enlightened your perspective.
Master Website Planners is here to help all of the small businesses in Southwest Florida reach their full potential. We're always upfront with what we offer and what we think would be the best course of action for your business. To schedule a consultation with the most knowledgeable web developers in Southwest Florida, contact us via social media, email or simply give us a call.
Sources: Gartner, HubSpot, WordStream