Internet Marketing Strategies
Internet marketing strategies may be thought of as overall strategies or perhaps refer to one of the many techniques. Before learning about internet marketing strategies and forming yours we recommend you understand the basics of internet marketing and design. We will not be covering that information here and will be assuming your are comfortable with that knowledge in our discussion.
Internet Marketing Strategies in 6 steps
- The first step to creating your internet marketing strategies is to figure out how much a new customer is worth to you in lifetime value or annual value. For some businesses you may only expect a one-time purchase so you would use your average sale value instead.
- The second step to creating your internet marketing strategies is to determine an appropriate investment to acquire a new customer or your budgeted customer acquisition cost. Hopefully your accounting reports can tell you what the average customer acquisition costs have historically been so you can use that as a benchmark. This is also function of your budget. Maybe you allocate 10% of sales to marketing and advertising, maybe more, maybe less. Another way, and maybe the best way to look at this is what is the actual new customer acquisition cost using Google Ad Words. By now you should have some idea of the keywords you would like to attract searches for so you can open a Google AdWords account and see what those terms cost. But you must also know or estimate your conversion rate, i.e. how often a click results in a sale. If you have been in business a while you can look at your website statistics to see how many new visitors you had last month and look at your sales records to see how many sales you had last month. If you had 1,000 new visitors and 100 new customer sales (excluding repeat customer sales) then you are converting 10% of new visitors to new customers. 10% would be great by the way. 2% or less is common and 5% is good. However, top performing sites do have 10% and higher conversion rates. In this case, i.e. 10% conversion rate, if a Google AdWord costs you on average $10.00 then a new customer will cost you $100.00.
- The third step to creating your internet marketing strategies is to set some sales goals that will get you to certain milestones such as break even, enough profit to live, enough profit to live comfortably, save for retirement, pay for your kid’s college, etc.
- The forth step to determining your internet marketing strategies is to determine how much to budget each month to grow your business thru your sales milestones. This is a factor of a) your goal milestones, b) your new customer acquisition cost, and c) how much you can afford to invest. The more you spend the faster your business grows and the sooner you reach your milestones. Well, maybe not exactly. Often times there is only so much you can do each month without risking that google thinks you are spamming so there is a sweet spot. However, you can spend as much as you want on Google AdWords without worry ;). You will probably need to spend less later to maintain your search engine rankings that you do to attain your high positions. Also, as you sales increase your investment as a percentage of sales decreases if you maintain the same monthly spend.
- The fifth step to creating your internet marketing strategies is to determine the most cost effective way to get results from your budget. If you can be a little patient and avoid Google AdWords spending and invest that money in SEO you will be rewarded in the long run with must lower cost traffic that Google AdWords traffic.
- Here are general internet marketing strategies that although not as good as one tailored to your business is general enough that it will usually work quite well.
- Determine your keywords
- Write pages for each keyword that are accessible from your menu.
- Optimize the pages for each keyword.
- Make at least one video for your main keyword and post it on YouTube and your home page.
- Connect your site to all the social media sites you can. That is, people can click on the social media icon on your site to take you to your page on that social media platform and when on your page on that social media platform they can click on your website.
- Make daily, weekly or at least monthly posts on your social media pages that are absolutely unique from each other and from the content on your website.
- Build up followers on your social media pages by being very clever about what you post and perhaps also paying for them.
- Get listings with links back to your site in hundreds of online directories.
- Write and publish articles on reputable 3rd party websites that link back to your site. Get websites to link to those articles to give them weight. Link to them from your social media accounts and if you wrote something clever people will start sharing and linking to it naturally.
- Write PR releases and get them published in reputable online news sites etc. with links back to your site.
- Last but not least, make sure your website is designed to convert visitors to sales.
- Present your products and services in an attractive and easy to purchase format.
- If you are selling products have a phone number easily visible that is always answered by well-trained helpful staff expert in making sales.
- If you are selling products have a live chat service on your site that is always answered by well-trained helpful staff expert in making sales.
- Have a support ticket system on your site that is always answered by well-trained helpful staff expert in making sales.
- Provide a newsletter subscription form and keep in touch with a newsletter to increase long term sales.
- Provide an FAQ page to answer frequently asked questions that might overcome objections to purchasing.
- Provide a Contact us page to provide easy access to courteous support.
- There are other internet marketing strategies that can be and need to be employed in very competitive situations and some of the above internet marketing strategies can be skipped in less competitive situations. Your internet marketing professionals should collaborate with you for best results.