We will talk about the vehicles, channels or media we will use to reach our niche. It is the most expensive component of your marketing strategy, it has to be handled carefully and managed well to get the best ROI (Return on Investment). In this article we will review the following points:
- Why is making yourself known a losing strategy?
- How to achieve a good return on investment?
- Customer lifetime value and how this is separated from the front end and back end.
- The role of social networks in your business.
- How to use email and traditional mail as part of your strategy.
- How to protect your business from the point of failure.
The Return on Investment game
The advertising expenditure has to be less than the benefit obtained. Only in this way it will be a successful campaign.
Front end, back end and lifetime value of a customer
The front end offer has to be so that they get to know you and buy from you. On the other hand, the back end offer is the continuous offer with which they will keep buying you.
With this we have to calculate the lifetime value of a customer, whether at the beginning his purchase ticket is very small but in the long term it should increase much more. Only then we will have a successful ROI, which was thought to be a failure only for the first sale.
Social networks with a cure-all?
What I think of social media is better to have a list of 1000 subscribers than 10,000 likes. Facebook is a party, so you play by the house rules, but if you make the party at your house, you make the rules. After you have your house party well prepared, you can use social media to make your party invitations.
Besides the fact that your publications are highly elaborated, keep in mind that they compete against memes, or the latest trends in fashion, politics, etc.
E-mail marketing
Start by sending your subscribers 3 emails that contain some value and the fourth email that contains your offer. You can use this same technique in your social media posts. The important thing is to measure that it is working, most social networks have tools for this purpose.
- Don't spam 🙄
- Be human
- Uses a marketing system
- Send regularly
- Delivers value
- Automate: welcome them if they subscribe, open the door to resolve their doubts, offer a personal call, etc.
The goal is to get your email sent and read.
Traditional mail
Remember that it does not replace email, it complements it. Imagine sending an email to your girlfriend or an anniversary whatsapp against a letter and some flowers....is a world of difference.
How to have an unlimited marketing budget?
When you spend on marketing, 3 things happen:
- Your marketing fails.
- You have no idea what happened.
- Your marketing is a success.
For each there is a procedure:
- Stop and change the things that don't work.
- If you measure it is useless.
- If it works, invest more.
If your marketing works, why do you put a limit on it? It's just like a money machine. If I sold 100 in 80 bills, would you buy me?
That is why it is an unlimited budget. Now if you can't control growth and meet demand it is very easy to raise prices. This will increase margins and attract higher quality customers. Just set a budget in the testing phase.
The most dangerous number
Just depending on a supplier, a customer, a product, etc.
- What if your best customer leaves you or his business fails?
- What if there is a change in government law and the product you offer ends up banned and disappears?
- What if your main advertising strategy fails and stops working?
- What if advertising costs rise dramatically?
- What if your high search engine rankings suddenly disappear or the "pay-per-click" price suddenly goes up?
Identify the failure points of your business.
"Jim Rohn: you have to think about winter in summer. It's so easy to get carried away with blue skies and cotton clouds. You have to prepare for winter, because it will come, it always comes."
