10 Tips for Successful and Effective Internet Marketing #3-4

In this second of five blog posts, I’m providing you with 10 Internet Marketing Ideas that will help you be successful online.  Some are practical, some are philosophical, but they are all intended to help you be more successful with your small business marketing strategies. Here are numbers three and four:

3.    SCRATCH THE BIGGEST ITCH – This necessitates you knowing your Target Market thoroughly if not intimately.  In the case of Pastors, for example, the “biggest itch” is pretty apt to be the challenge of preparing to preach a sermon each and every week.  Anything offered that will assist with this on-going task is not only going to receive thoughtful consideration, but will also be most appreciated. Know your audience. Figure out what makes them itch, and learn to offer products or services that really address their primary needs.

4.    GET THE METRICS — An understanding of this aspect of Internet Marketing is what will allow you to accurately determine whether your Marketing program is having a positive or negative effect on your “bottom line.”  To help you with at least a minor grasp of this concept we have included the following example.  However, if you feel you need more information to fully appreciate the Metrics of Internet Marketing in regard to your product or service, contact us for further assistance, or contact an expert in the field and make arrangements to be instructed by them.

Example:
When utilizing e-mails for your Marketing Program you need to know that there are three basic metrics to keep an eye on: Open Rate – Click Through Rate – Conversion Rate.  Open rates can vary by client and industry and offer but respectable ones run from 10-20% (Divide the # of unique emails opened by the number Net Delivered). Reasonable Click Through Rates vary too, but can run anywhere from 5-20% (Divide the number of unique Clicks by the number of unique Opens).  Good conversion rates can run anywhere from 2-5% (Divide the number of sales or leads by the unique Clicks).

Once you get the metrics, do the math. If 100,000 e-mails are sent, and you get a 15% Open Rate , you have 15,000 opens. If you get a 10% Click through Rate, you have 1,500 clicks to your website. If you get a 2% Conversion Rate, you got 30 sales or leads.  If the Program cost $1,500.00 to implement, then each lead cost you $50…or each sale cost you $50. Now that you know the metrics you can determine if 30 leads or sales was a good investment for your advertising spend.  If you are an Architect, and you can convert 10% of your 30 leads into $10,000.00 contracts, you will, undoubtedly, be ecstatic with $30,000 of sales on a $1,500 investment.  If, however, you are selling a $79.95 power point presentation for Pastors, the numbers get tighter, but you may still be happy with 30 sales for $2,398 total on a $1,500 investment.

For further internet marketing ideas, or tips for fundraising professionals, visit Pathmaker Marketing, or call Randall Mains direct at 623-322-3334.

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