Tweet

Entrepreneurs, the Economy and Internet Marketing Strategy

Written by: Deborah Young

Article Overview: No company or work at home entrepreneur can afford to lose customers, especially in a down economy, and the most economical way to keep your customer totals the same is to keep the ones you already have. Now, how do you build on that base and deliver new customers - even in hard times?

Entrepreneurs, the Economy and Internet Marketing Strategy

In today's economy most businesses -home based businesses included - should have two things at the top of their internet marketing goals:

1. Keep the customers you have

2. Obtain more high-quality leads We all know it's cheaper - a lot cheaper - to keep the customers you have vs. finding new customers. It costs you five times more to acquire a new customer than to keep an existing one. And there's a 60-70% chance an existing customer will buy from you again. New customers are only 5-20% likely to make a purchase.

No company or work at home entrepreneur can afford to lose customers, especially in a down economy, and the most economical way to keep your customer totals the same is to keep the ones you already have. Now, how do you build on that base and deliver new customers - even in hard times?

Quality leads is the name of the game and internet marketing delivers them in spades. And it delivers them in a way that offers measurable results. When money is tight accountability and the ability to measure results become even more important. Marketers need to know what is working and how much it costs so they can concentrate efforts and dollars on successful programs. In these tough times marketing dollars are being shifted away from higher cost endeavors such as trade shows and print advertising and into online efforts.

Three things will help deliver those high-quality internet marketing leads:

• Measure your marketing programs. Online marketing lends itself to this very well by allowing you to measure visits, clicks and conversions.
• Target your customers and prospects. Focus on programs where potential customers are looking for information, products and services.
• Continue to market, especially during hard times.

Choose the right venues - focused on measurable results and your target audience - and you can continue to win business no matter what's happening with the economy.

Related Articles
  What Is The Best Way To Get More Traffic?
  The REAL Cost of Big Fat Internet Marketing Lies
  What Does It Take For Us To Become An Entrepreneur?
  Effective low budget internet marketing strategies
  Do you need an Internet Marketing Plan?

Article Tags: conversions, down economy, endeavors, home based businesses, home entrepreneur, information products, li li, marketers, marketing goals, marketing programs, measurable results, measure results, name of the game, print advertising, quality internet, spades, target audience, target your customers, tough times, trade shows
Referred by: http://jaykubassek.com



Related Forum Posts
Introducing a Learner - Hi everybody, It is really my pleasure being around so many Entrepreneurs and strategic minds. Strategy is something I always loved and eager over every new move. Being a newbie I would need your support and I hope I would get that. Thanks Stephen
Re: Best Internet Marketing Strategy - Sometimes the best Internet Marketing Strategy can really depend on your business. It can depend on the particular industry and specifically it can depend on your competitive landscape which can vary from the low hanging fruit to highly competitive markets. I guess what I really saying is that it can vary from one scenario to a different range of strategies to another different scenario. How can you determine which is best for your ideal audience(s)? Outside of all of the technical aspects, which so many people tend to dwell on quite naturally, there is another missing element that is sometimes missing from the SEO/Social Media set of skills. Two principles to keep in mind when you are working on your "strategy." 1. The single biggest missing element is the one that puts you ahead of the competition in a major way. That element is "creativity." So many people spend hundreds of hours trying to replicate what others are doing. Creativity is the element that will allow you opportunity to become a leader (instead of just following the crowd trying to copy everyone else.) True creativity mixed in with your SEO strategy can position you as the leader and the next thing you know, everyone will be watching what you do and trying to follow your lead. But when you are the creator, it keeps you ahead of the game because you are growing in directions of your choosing and using your time to be productive. 2. The other element of any great Internet Marketing Strategy (outside of the technical skills and know how) deals with you delivery of information. Try to always remember that your strategies are not just there to help you pursue money and wealth, but you are writing to serve your audience. Why do people search the Internet in the first place. Often it is because they are searching or researching information based on the conditions in their lives. Consider the purpose that you write and create content and ensure you are creating the type of useful, helpful and engaging content that satisfies the reason someone chose to search in the first place. Remember that running a business is about making a profit, but even more important to remember is that life is about serving your readers and life is about helping people. Money comes and goes and everyone needs it to live. But people are eternal and how we care about our customers and readers will be evident in your work, whether you realize it sooner or later. Instead of going after the one hit type of sale or service, build within your Web strategy one of the most powerful strategies that can be built. I am referring to building clients for life by remembering that the Internet is not much different than the real world, or it does not have to be if you focus on building relationships using the World Wide Web. I rarely share on forums because so many of them can become nearly like battlegrounds with people all trying to argue their points. But the reason I like Evan's forum here is because ever since I joined it, I've seen nothing but evidence of friends helping other friends and that's what makes this group so great. Good luck on your journey to find your best Internet Marketing Strategy and I wish each and every reader here the very best of success along your path.
Re: Kevin's Case Study #11 - A New Forum Category? - Hi Kevin, Like GT suggested, I also think you can add Internet Marketing as a sub category in the Marketing section and also a Social marketing as subcategory. Online marketing/internet marketing/online promotion are the same, and it will be best to use the common term - Internet marketing. I can't think about someone to moderate a Social Marketing category. We all use it, we all know how to make it work and we all have our own different experience with it.
Book: Secrets of Six Figure Women - Secrets of Six Figure Women: Surprising Strategies to up your earning and change your life Barbara Stanny, 2002 Jacket: Maybe you've noticed - a subtle trend is gathering steam. Quietly and steadily, the number of women making six figures or more is increasing, and it continues to rise at a rate faster than for men. From entrepreneurs to corporate executives, from white collar executives to free lancers and part timers, women are forging careers with considerable financial success. Through extensive research and hundreds of interviews, including dialogs with more than 150 high earners whose annual incomes range from $100,000 to 7 million, Stanny discovered that ...they all had certain traits in common: 1) a profit motive 2) Audacity 3) REslience 4) Encouragement 5) Self-awareness 6) Non-attachment 7) Financial knowhow She amplifies on these in the book itself. Table of Contents Intro: Welcome to the era of the six-figure woman 1. The Queen in the Countinghouse 2. The Lowdown on low earners 3. Raising the bar 4. Strategy 1: The Declaration of Intention 5. Strategy 2: Letting go of the ledge 6. Strategy 3: Get in the Game 7. Strategy 4: Speak Up 8. Strategy 5: The Stretch 9. Strategy 6: Seek Support 10. Strategy 7: Obey the rules of money 11. Claiming our power Appendces: Resources and websites Tips for getting out of dent Investing Basics: Wealthbuilding 101
Re: Best Internet Marketing Strategy - [quote="jennysmith14":2wxugq3d]Hello Friends.......... Best Internet Marketing Strategy are # Start with a web promotion plan and an effective web design and development strategy. # Get ranked at the top in major search engines, and practice good Search Optimization Techniques. # Learn to use Email Marketing Effectively. # Dominate your marketing niche with affiliate, reseller, and associate programs. # Request an analysis from an Internet marketing coach or Internet marketing consultant. # Build a responsive opt-in email list.[/quote:2wxugq3d] Hi Jenny, All good valid advice here to readers. The one thing I might add for clarification to readers is on point number 4 concerning "dominating" search results. I always like to clarify the importance of dominating for a variety of well researched keyword phrases that ideally target your ideal buying audience. Sometimes people misunderstand and think the objective is too dominate all top 10 spots for the same keyword. The reason this is not wise is that anyone successfully dominating all top 10 spots may actually be reported to Google Abuse because the purpose of a search engine is to display a variety of choices. Competitors can become quite upset with a company who is dominating all top 10 spots for the same phrase. I realize you know this already, but just thought I'd throw it in for anyone new to SEO. A better way to "dominate" is for a variety of very well researched phrases to pull in multiple audiences of readers. Great post Jenny. Thanks


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Unharnessing Creativity in Business

Email Marketing Made Easy #11 - Avoiding Spam

How to Sell to the Price Driven Customer

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.