Is Your Inflexibility In Marketing Costing You Money?
If your marketing plan is so rigid that you’re unwilling to look at new approaches, you’re probably wasting part of your marketing budget. Does this fit you?
Business A Believes That PPC Is The End-All Be-All Of Marketing
This business owner is having some success with his PPC campaigns and he is unwilling to consider anything that may expand upon what he’s already doing or may improve it.
For Example: This business does a number of geo-targeted campaigns and they have multiple offices in multiple locations without having set up their local search or building a local reputation.
The problem with not building up a local reputation when you’re doing geo-targeted ads and have a local office is that your quality score will not be as high as it could be. Usually, the higher the quality score the lower you pay per click in the higher your conversion rate.
Additionally, with a local listing that has enough of a reputation that the star rating shows in your local listing, you can enable your local listing to be shown in your AdWords ad. This gives your ad more exposure at no additional cost and, more importantly, your reputation, business name, address and phone number are shown in the ad.
Many people that are interested in what you are promoting will pick up the phone and call your local phone number instead of clicking on the ad to go through to your landing page. This means that you will get a lead without spending a penny even though the AdWords ad is what got the lead to call you.
The inflexibility of this business owner to consider adding local search and building a reputation locally is costing him in the way of higher clicks, lower conversions, lower profits and lower visibility in the local search (organic search).
Business B Believes That PPC Plus Yelp Is The Ultimate Combination
This business owner is a franchisor for almost 400 local businesses. He spends massive amounts of money on PPC ads through Google AdWords and Bing in addition to maximizing his exposure on Yelp.
Yelp is a local business directory and not a search engine. The franchisor either doesn’t know this or he is unwilling to accept that there are basically only two main ways that customers find your business which I discussed in this post last year.
Unfortunately for him and his franchisees, he will not recognize the importance of having local search and a local reputation set up and functional for each of his franchisees.
The Yelp reviews are helping their campaigns on Bing but they do nothing to help with their advertising on Google.
Because the corporate culture is ignoring the other local directories in the local aspect of the search engines so completely and preventing their franchisees from building their organic search presence on their own, they are forcing these local businesses to spend money on marketing methods that are less effective and have a negative cash flow until the word-of-mouth advertising starts to kick in.
From the few franchisees that I’ve had access to, I’ve determined that it takes 3 to 5 months for each franchisee to reach the breakeven point.
If the franchisor were to allow each franchisee to build a local reputation and market that reputation using local search and social media, the franchisee would make more money, the corporation would make more money and less money would have to be spent on PPC campaigns or on other marketing methods that aren’t as effective as they once were.
Traditional marketing methods that were effective in years past would often take 5 to 10 years to reach a point where you had to add something new or modify an existing method before your bottom line was adversely affected.
With the advent of Internet marketing, however, the rate of change has accelerated to the point that you need to reevaluate your entire marketing plan every few months and in the case of PPC you may have to make modifications on a weekly basis to maintain maximum profitability.
The old saying that knowledge is power is true. When it comes to marketing, especially online, you must have a team that is constantly expanding their knowledge of what is working both online and off-line if you wish to grow your business to its fullest potential.
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Last 5 posts in Marketing
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- Are You Continuously Building Your Online Reputation? You Should Be - September 16th, 2017