Quick Question: Is Marketing A Cost Or Investment?

If you have answered marketing as a cost, it is time to evaluate how you are marketing your product or service.

Here are the 3 reasons why you may be burning your money in ineffective marketing activities.

1) Not tracking the returns on investment for every single marketing activity

It is often more exciting to plan and launch marketing activities rather than monitor them. However in order to understand how to organize your budget more effectively, you must track the returns on investment on every channel because you want to know how much you earn from every dollar invested.

How?

Launch marketing activities separately to track and monitor every marketing channel, instead of launching them all at one shot. Track them in one excel sheet to monitor the responses.

2) Leveraging into disruptive advertising rather than relevant advertising

In the past, everyone depended on disruptive advertising which is television advertisements, magazine advertisements, billboards with the hope of getting 0.05% response from the general public. The responses were lukewarm, however great in comparison to relevant advertising.

So what is relevant advertising then? It is being promoted when your prospect is actively searching for your service. One key example is search engines where millions are actively searching for your product and service. When your service appears in front of the warm or prospect, it is certain that the conversion rate increases tremendously.

How?

Learn how to use paid or organic traffic to promote your services. Paid traffic can be launched in 2 days while organic traffic can take up to more than 6 months.

3) Not collecting a database of warm or hot leads

Everyone that gets in contact with your company is a hot or warm leads. Therefore you need to capture their contact willing by providing with a piece of useful information that they are willing to exchange for.

With this, you collect a database of warm and hot leads who receive your updates frequently. By building a relationship with them via newsletter or even facebook, you warm them up for future updates and also move from paid advertising to FREE advertising. (Since e-newsletters are nearly free to send).

Sometimes it takes time to warm up a lead or simply being there when your prospect is ready to purchase helps you win the deal.

How?

Sign up for an autoresponder service like getresponse and hire a designer to install it into your website. And create a free report that will attract your prospects. Make the title catchy and interesting!

Good luck with your marketing expenditure and remember with the right knowledge, you can enjoy an R.O.I of more than 50% for your marketing. If you are keen to learn how to generate leads WITHOUT any effort on your side, why not sign up for my last internet marketing seminar for this month? Hope to see you there!