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Thursday
May232019

Why Didn't My Campaign Work?

Marketing is without a doubt one of the most challenging aspects of a business, and being able to create a successful campaign and gain a great conversion rate for your business can be hard. A lot of the time even if you think you have done everything right for your campaign it might not show in the results you get back. Today we are going to take a look at these failed marketing campaigns and see if we can identify the possible reason why they failed.

1. You didn’t research enough

The most important thing you can do when studying failed advertising campaigns is look back and start from the beginning. When you were planning a winning campaign, what kind of research did you do for it? It is easy for us to take a quick skim through our competition and take a look at cheap ways to market and think that this is enough, but actually we need to delve deeper and really understand what we want to gain from a marketing campaign in the first place. 

2. You don’t know your audience

If you want to create the most successful campaigns for marketing, you need to know exactly who you are marketing to and how they will respond to a campaign. Of course, this can sound a little crazy when you think of trying to read the minds of people around you, but it is important for you to be able to identify who you are targeting in order to make content that they will enjoy. The way you will create content for a group of business people is very different to creating content for homeowners and this is something you need to ensure you can get right when it comes to making the campaign.

3. You didn’t target the right stage of the journey

The customer journey has many steps on it and it is not simply a case of a customer buys a product and that’s the end. There are a lot of stages to your customer journey and in order for you to effectively create a campaign you need to make sure you identify a stage and exploit it to the right people. A simple example of this would be if you were to create a promotional offer for existing customers, but target it at new people who want to join your membership and get to grips with your services. It is important to segregate your audience into categories and reach out to them in a more direct way because this will allow you to generate a better conversion rate afterwards.

4. Your content was too automated

One of the things which can be helpful for marketing is to have an automated system where you send out email newsletters, flyers and other marketing automatically each month. However when you create automated content you need to be aware of the points we have mentioned above and be sure not to send content which is too automated to your customers. For example if you have customers who have already bought their first product and want to buy more in the future, you need to send them content which reflects this and don’t send them the same as you would to a new set of customers. There’s no point creating a newsletter outlining your company and what you do to people who already know. Make sure that when you automate emails that you create 3-4 different ones for different people.

5. You set an unrealistic deadline

One of the things that you really need to be aware of when creating a campaign for your audience is the goal you set and the deadline you choose for it. When it comes to setting up a successful campaign for your followers you need to be able to gain the right results without rushing into things. The way that you can do this is to think about your goal and decide upon a REALISTIC deadline. For example if you are a new business who has just opened their first social media account, there is no sense in you trying to aim for 1000 new likes or followers within a week because this is not realistic and you are doomed to fail from the beginning. Make sure that any deadline you create makes sense and if you exceed expectations you can always increase your goal next time around.

6. Your campaign was budget restricted

There’s nothing wrong with being on a budget when you want to create a marketing campaign. In fact, marketing campaigns which are free can work well if you create it carefully. However if you have the budget for a good campaign and don’t utilise it, this is what will likely wreck your chances of a success. If you are more focussed on saving money than your campaign, you are not going to find the same success as you want. Make sure when you take a look at your campaign that you invest in the right audience, location and duration to get as many click throughs to your website as possible.

7. Your calls to action were vague

The most important thing to make sure you do when creating a marketing campaign is to set a call to action. A call to action is usually a button or an instruction which you add onto your advert which tells people what to do next. This can something such as ‘BUY NOW’, ‘CALL US’ or ‘VISIT OUR SITE’ and it will get people to click through and learn more. It is important to create a clear call to action which is simple to understand and use, so be sure that this is the case when you create a campaign.

8. Your database is outdated

If you have a database of old email addresses and inactive users for your campaign, you won’t get a great conversion rate. Think of it this way: if you send an email to 2000 people in the hopes of gaining 10% conversion; and 200 of those email addresses no longer work; you will lose out on your target. Make sure to sweep through now and again and make sure that you can email real people.

 

Thursday
May232019

Eliminating your High Interest Debt

As a business owner, you know the true cost of debt. Interest charges add up quickly and take money away from other areas where it would be better spent. Hopefully, you have your business debt in order, but what about your personal debt?

Make this year the one that you finally tackle your personal debt, namely credit cards. The three biggest debts people will carry are mortgage debt, student loan debt and credit card debt. Of those, the first two are generally considered good debt with credit cards being considered bad debt. Let's get rid of it.

Credit Card Debt

Credit card debt can quickly get out of hand and the credit card companies thrive on this. According to NerdWallet, the average household with credit card debt in 2018 had a balance of $15,561. Everything the card companies do is designed to get you to put more money on your credit cards. Cash back bonuses, introductory interest rates, airline miles, all of these credit card traps have the same goal. Getting consumers to charge more.

Sure, you can just take advantage of these bonuses and then pay off your balance monthly, but will you? The true answer is no, and credit card companies bank on this. How do you think they can afford to give these extras to you. It's kind of like casinos. Everyone thinks they can beat the house, but Caesar's Palace wasn't built by people winning.

Luckily, you can get out of this debt with a little discipline and a couple of time proven techniques. Let's take a look.

Debt Snowballing

Debt Snowballing is more of a motivational tool than anything else, but this is important when going through the drudgery of getting out of credit card debt.

With this technique, you need to lay out all of your credit card debts. List them in order of smallest to largest debts. You will then pay the minimum payment on all of your cards, except the smallest debt.

Take the smallest debt and pay as much as you can, each and every month. Do this until it is paid off and then move on to the next smallest debt. Continue this process until you are out of debt.

The benefit to Debt Snowballing is motivation. You pay the smallest debt first and then you get the satisfaction of seeing that zero balance. It helps motivate you to keep on paying the debt down.

Debt Snowballing can sometimes fly in the face of good financial sense, but it works. For example, the most productive thing to do would be to pay off the highest interest cards first but these might not be the smallest balance cards. Paying down a high balance card is demoralizing. You make big payments every month but the balance never seems to go down much. You never get the reward, so you give up.

If you are like most Americans, you need instant gratification, which is why Debt Snowballing works.

Debt Consolidation

If you have the credit rating to secure a good interest rate on a consolidation loan. this is a great way to go. The average credit card interest rate is 14.41% for existing accounts so anything that you can do to drop this will greatly help

Consolidating your debt will do two things for you.

Obviously, it will lower the interest that you pay every month. If you are carrying $15,000 in debt at the national average of 14%, you are paying $175 a month in interest. Get a consolidation loan at 5% and your monthly interest would drop to just $62.50. That is a savings of $112.50, money that could be used to further pay down your debt.

Another benefit to consolidation is that you will now, suddenly have a lot of paid off credit cards. As long as there is no annual fee, don't close them. The increase in your available credit should give you a nice boost to your credit score in a few months. If you close all those cards, the exact opposite will happen, your credit score will go down.

Now, let's be super clever and use that great new credit score. Use that increase in credit rating to look for an even better rate on a consolidation loan. Maybe you were not able to get a rate under 5% because of your credit card debt. Maybe you had to settle for a 10% loan rate. A huge improvement over credit card interest but you can do better now. So let's go out and secure a new, better consolidation loan.

This Is Your Year

Credit card debt is the worst kind of debt that a consumer can carry. Interest rates are a huge burden on your budget and high debt ratios can wreak havoc on your credit score. Take some action and make this the year that you join the 40% of Americans unburdened by high interest debt.

Wednesday
May152019

How Efficient Is Your Small Business?

Between filing taxes on time and hiring the right people, you are going to be running a business, bringing in more clients and managing customer expectations. There are plenty of ways to make your small business as easy as possible to run, and you need to strategize to make that happen.

Efficiency is critical in a business, and

whether you want to be more efficient by managing the way that you handle your customer's data, or you want to be more active in your IT department, you need to learn how you can make your company more productive. Let's take a look at how you can improve the efficiency of your small business.

Delegate Where You Can

Your business can only run for a finite amount of time in the day, which means you need to let go of some of the tasks that you want to get done and allow someone else to handle it. You can click here to learn more about the types of services that you can pay for to take a load off your plate. Small business owners often find it hard to let go of tasks, but by doing so, you can ensure that you are playing to your strengths while someone else plays to your weaknesses.

Go For Automation

Repetition is a thief of time. From typing up the same emails to performing the same marketing tasks, you need to cut the time that's being wasted. Automating the tasks that are on repeat in your business is going to change the way that you work. With automated programs working for you, you can make your business far more efficient than it is right now. Plus, you can free up some time for the tasks that you actually want to do rather than the ones that you have to do.

Focus Is Key

Did you know that flitting from task to task is going to be harder on your efficiency levels than focusing on one task at a time? Take the time to delegate tasks to yourself and make sure you block out the time in your calendar so that you can focus on these things one by one.

Embrace Changes

The worst thing that you can have in your workplace is complacency. You are the central point of the culture of your company, and part of this will mean embracing the ideas of others. Without change, your business will stagnate, and you end up being the type of business owner that digs their heels in and remains in the past. Being willing to make changes as time goes on is how you stay efficient because the ability to adapt is going to ensure you are stable.

Being able to run a business successfully requires you to be as efficient in your processes as possible. You have to pile your energy and your resources into making sure that your business is productive and focused.

Monday
May062019

Count Your Lucky Stars You No Longer Have To Worry About These Old-School Entrepreneurial Problems

Don’t misunderstand: running a business is still tough. But thanks to the changing way in which companies operate and advances in technology, running a business is a lot easier for a mompreneur today than it was for the founders of old. So many more aspects of a company are already taken care of for you, allowing moms to get on with what counts: delivering a great product.

Check out all this stuff that mompreneurs no longer have to worry about. 

Managing Your LLC Company And Tax

If you run an LLC, then there’s nothing worse than having to deal with all of the administrative burden imposed by the government. Worse still, if you don’t comply, you’ll get a hefty fine in the post and if you ignore it, be dragged through the courts. Not good.

But unlike the entrepreneurs of old, you don’t have to deal with any of this. All you need to do is call up a third-party company that manages things like payroll, statements, and tax, and they’ll do the whole lot for you, on time, every time. As an LLC, you no longer have to go through the rigmarole of submitting a tax return or telling the authorities that you’re still in business - you just focus on your work and let somebody else take care of all that for you.

Managing Your Computer Network

Computers can be a mystery, even to the most experienced IT professionals. But now, thanks to the power of the cloud, you can get managed IT services that take care of the whole thing for you. These services not only provide you with software through the cloud, but they also negate the need for you to have any IT infrastructure in-house. These firms deal with the whole lot.

The current market for these services is enormous. The majority of startups now use them because it helps them sidestep large, upfront bills. When you get services delivered over the internet, you no longer have to pay for servers and other expensive items up front. You just pay for the resources you need on a month-by-month basis, and that’s it.

Managing Your Digital Marketing

Digital marketing is a fast-paced and evolving subject which requires your full-time attention if you want to stay up to date. Of course, most mompreneurs have neither the time nor the inclination.

The good news is that there are thousands of companies out there who offer digital marketing services. Most of these companies will do anything you want, from SEO boosts for your website to better social media engagement. Some specialize in areas like reputation management and marketing for specific sectors, like dental practices.

One of the good things about these services is that they are much better at delivering results than most people are by themselves. Firms already have a network of websites that they can use to provide backlinks, as well as professional writers who can whip up any content you want in a matter of minutes.

In summary, there are many reasons for mompreneurs to be grateful.

Tuesday
Apr302019

Do Businesses Really Fit Into The Ever Changing Marketing World?

Marketing your business has seemed to have gotten harder and harder. It’s a digital world these days, and that means a lot more competition is on your plate, and the rate at which the world moves on to the next best thing is faster than ever. How does a small business like yours keep up?

Well, by studying the patterns of this ever changing marketing world, and finding a place to fit yourself in it. After all, there’s lots of successful ways to advertise your business out there, and you could use any one of them to reach the customer base you know and love. Both old and new tactics have great rates of effectiveness, and you need to know which ones have the most legs for your personal company needs.

So here’s to exploring the ever changing marketing world. You’ve got a lot of work to do, and a lot of effort to put in, so let’s make sure all that doesn’t go to waste.

So, How Fast Does the Market Change?

It’s been about ten years since Facebook allowed its users to upload their own photos to the platform, and since then, the world has gone hungry for both social media and the technology that allows us to access it. And that’s the crux of the marketing situation at the moment - everyone has their own little internet portal they can craft to show off the perfect elements of their life, to tell the whole world what they like and don't like, and who they follow, and the internet algorithms target them with specific adverts as they go. It’s a fast paced world, and you’re won’t get the same adverts on your page two weeks running.

This little example only goes to show that the market can change fast, and as consumers, we forget what came before. Do you remember the ads on your Youtube recommended section last week? Think about the tech that’s been and gone in that same ten year period: How long were we using blackberry phones until their stock crashed, and we’ve not heard a peep out of the company since? The peak of their popularity occured between 2009 and 2013, before Apple and Google overtook them - that’s only 4 years before the market moved on to something bigger and better.

What Does the New World Look Like?

The new marketing world is a digital one, and it’s only going to get more and more technologically minded. The allegations that your Alexa or your Smart TV have been listening in on your conversations, even when turned off, to bring you adverts that are so specifically targeted it’s like your house is bugged, are a scary thing to think about. Especially from a small business marketing point of view.

How do you compete with the corporate giants out there, who have the tools to constantly monitor a consumer’s profile, and who are capable of changing their vast algorithms overnight to constantly fit the market? Reading up on Slybroadcast might reveal a thing or two, but when you properly consider how intrusive advertising can become, you can offer an alternative.

You can offer the customer a step back, and instead outright ask them what they want from you - surveys, customer reports, answering their feedback on review sites etc., all prove popular with the current shopping generation.

What Old Techniques do People Still Respond to?

Because we live in an ever changing marketing world, we can simply discard the oldies and goodies of the advertising efforts of yesteryear. And that’s a mistake a lot of us can make. It’s tempting to think that anything a business from the 40s or 50s did would not work on the generation we’re serving, but it’s a misconception you should use to your advantage.

There’s still some older marketing techniques out there that work, such as word of mouth. If you have a small business, you’ve got the chance to really take the time to impress a customer. And when you do, they are guaranteed to go out there and spread the word about how well you treated them. Don’t ever underestimate the power of gossip and conversation within a community; it keeps small businesses in business more often than anything else!

So, do all the new and small businesses being started every day really fit into the advertising world we know? In some ways, yes, and in some ways, no. You have to change with the way we market, after all.

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