Tag: marketing techniques

5 Common Marketing Misconceptions: How to Correct Them and Boost Your Sales

These 5 common marketing misconceptions are keeping many small business owners from getting the sales and profits that they deserve.

By correcting these misconceptions, you can boost your sales and profits. By promoting your small business effectively, you can avoid failure and boost your success…

5 Common Marketing Misconceptions: How to Correct Them and Boost Your Sales

 

Did you know that one good advertising can transform your small business?

It only takes ONE self-funding marketing campaign to get game-changing sales and profits for your business.

Once you have even just a single advertising campaign bringing you more customers day after day… your business and your life can change dramatically.

But, here’s the problem…

Most entrepreneurs are not marketing their businesses online.

There are 90 million businesses on Facebook (Facebook data, October 2018). Of these businesses, 7+ million are active advertisers on Facebook (Facebook data, February 2019).

This is shocking…

Less than 8% are active advertisers (7+ millions) out of 90 million businesses on Facebook!

Check out these surprising statistics about small business marketing…

According to a study by B2B research firm Clutch.co (2018):

  • More than 36% of small businesses do NOT have a website. This means less than 64% have a website.
  • 26% of small businesses without a website believe their customers are not online.
  • 75% of small businesses are NOT investing in online marketing. This means only 25% are promoting their businesses online.

Marketing Statistics for Small and Mid-Sized (Medium-Sized) Businesses (SMB)

How much are SMBs spending on marketing overall (brightlocal.com, 2015):

  • 16% are spending more than $1,000 a month
  • 83% are spending less than $1,000. Of these SMBs, 70% are spending less than $500 a month.

How much are businesses spending on digital marketing (this includes promotions using the Internet and mobile devices):

  • The average SMB spends $400 per month on digital marketing (brightlocal.com, 2016).
  • 50% of SMBs spend less than $300 per month on digital marketing (brightlocal.com, 2015).

5 Common Marketing Misconceptions That Keep Entrepreneurs From Getting the Sales and Profits That They Deserve

By correcting these misconceptions, you can boost your sales and profits. By promoting your small business effectively, you can boost its success…

Misconception #1: I don’t have to promote my business online because my customers are local.

FACT: If you’re not promoting your small business online and on mobile devices, you are going to miss out on a lot of sales and profits.

According to Hubspot.com (2019), the latest small business marketing statistics and trends revealed the following:

  • 81% of shoppers research online before purchasing.
  • 60% of consumers begin their product research with a search engine before heading to a particular website.
  • 46% of all searches on Google have local intent (Google, 2018).
  • 93% of online experiences begin with a search engine and 47% of people click on one of the first three listings (SEJ, 2016).
  • 91% of customers have visited a store because of an online experience.
  • 37% of customers use the Internet to find a store at least once per month.

According to Google’s 2016 data, 68% of consumers who conduct local searches on their smartphone go to a store within 24 hours. Nearly 50% make a purchase within a day.

Your potential customers are looking for your products and services online. If they can’t find them… they can’t buy them.

If you’re not marketing your business online and on mobile devices, it is INVISIBLE to your prospects… and you’re missing out on a lot of sales and profits.

Misconception #2: You need to be a marketing expert to get results.

FACT: 71% of small business owners do their own digital marketing, instead of leaving it to experts (Digital.com, 2017).

You don’t have to be an expert to get sales and profits from your marketing campaigns…

Here’s why…

Testing eliminates the need for marketing experience.

You can generate sales and profits from your marketing campaigns… whether you’re a seasoned marketer or just starting out.

How?

You just need to run a marketing test to find out which marketing campaigns will get sales and profits… or not.

At the end of the test (after about 5-10 days), you can stop the campaigns that are NOT generating sales and profits.

You only keep running the campaign that is generating the most sales and profits.

Here’s an example…

After running your marketing test for 5-10 days, you might get these results:

  • Campaign #1 — $200 profit***
  • Campaign #2 — ($100) loss
  • Campaign #3 — $50 profit
  • Campaign #4 — ($70) loss

*** In this example, your marketing test showed that Campaign #1 made a $200 profit. So, you can send ALL the traffic to that one campaign because it generated the most profit.

You need to STOP running all the other campaigns that only made $50 profit as well as those that lost $100 and $70.

You don’t need to be an expert to do this…

By running a marketing test, you can figure out what works and what doesn’t work. You only keep running the most profitable campaign and ditch the losers.

Misconception #3: Marketing is too time consuming.

FACT: Almost half of small businesses spend less than two hours per week on marketing efforts (Fundera.com 2019). This works out to about 17 minutes per day.

Here’s what you can expect…

It takes about an hour or two to set up a new marketing campaign. Most of your time will be spent on market research to learn what’s already working for your competitors and avoid what’s not working.

PRO Tip…

Most marketers skip doing market research before creating a new campaign. This is costly mistake!

Using trial and error will waste weeks or months of your precious time. It can also cost you thousands of dollars before you can generate some sales and profits.

Instead, use the results from numerous trial and error of your competitors… which you can get by doing market research online for free.

By doing market research, you can have a powerful way to save a lot of time and money. It’s like having your competitors spending millions of dollars and thousands of hours doing trial and error for you.

By performing simple market research using free tools online, you can get information that will cut your cost and get you faster results when you run your marketing test.

By running a test (for about 5-10 days), you can find out which campaign can generate the most sales and profits…

This process doesn’t take much time because you’re just letting the marketing test run — you’re just waiting and not actually doing anything. You can evaluate the results after running the test for about 5-10 days… and pick the most profitable campaign. See the marketing test example shown above…

Once you have a campaign that’s generating the most sales and profits, you can keep improving it. So, it can generate even more sales and profits for you. This can take you a few minutes a day.

You can keep running a profitable marketing campaign for many months or years… without spending a lot of time. It can take you a few minutes a day to monitor your sales and profits.

Misconception #4: Marketing is too costly for small business owners.

FACT: The average SMB spends $400 per month on digital marketing (brightlocal.com, 2016). 50% of SMBs spend less than $300 per month on it (brightlocal.com, 2015).

Direct-response digital marketing is the simplest, fastest and cheapest way to generate sales and profits for your small business.

You can get started for as little as $5 a day… or even less.

How?

By using the profits coming from your sales, you can grow your sales and profits… over and over again.

This is how you can start with a tiny budget… and just keep recycling it to grow your profits.

Once you have a profitable campaign, you can end up with an UNLIMITED marketing budget by recycling your initially tiny budget. You can keep re-investing your profits… and keep making more and more money.

If you could make $2 profit for every $1 you spend promoting your business… how much money would you spend to keep making more and more money?

Of course, you would spend as much money as possible… and you could keep multiplying that $1 into $2, $4, $10 and more!

Misconception #5: Marketing is an expense my business can’t afford.

FACT: Marketing is a revenue generator. It’s not an expense, but an investment that can generate sales and profits for your business.

According to Google, the average business makes $2 in revenue for every $1 spent on Google advertising.

By putting highly targeted advertising directly in front of your ideal customers when they are searching for what you have to offer, you have a surefire way to maximize your advertising dollars.

If you’re investing in email marketing, you can generate $38 for every $1 spent. This is an astounding 3,800% return on investment (ROI) (Hubspot.com, 2019).

By marketing effectively, you can have a self-funding system.

When you have a self-funding marketing system, you can have a reliable process that pays for itself (so, it’s FREE)… and also brings in a steady stream of sales and profits for your business.

Effective marketing is not only a revenue generator, but it’s also a powerful business growth accelerator.

Conclusion

Your potential customers are looking for your products and services online. If they can’t find them… they can’t buy them.

If you’re not marketing your business online, it is INVISIBLE to your prospects…

Why not buy rapid results?

Direct-response digital marketing can offer your business the SIMPLEST, CHEAPEST and FASTEST way to get more sales and profits.

You can get started for about $5 a day or even less…

“When I was a newbie in 2010, my pay-per-click (PPC) advertising budget was $1 a day. This tiny budget allowed me to learn marketing by doing. It helped me build my direct-response digital marketing expertise.

By recycling my tiny budget, I was able to grow it. This was a game-changer for me. It helped me skyrocket my sales and profits as well as my confidence about my marketing knowledge and skills.

Over the years I developed some advertising hacks that MAXIMIZED sales and profits… while MINIMIZING cost. I share these marketing hacks with students, subscribers and clients as well as visitors of Good Works Good Biz.

My suggestion to you…

Don’t just use one marketing hack. Layer multiple hacks to cut your cost way down… while boosting your results.”

~Allie Mendoza

By advertising online, you can buy VISIBILITY (traffic) for your business…

This can make it easy for your prospects to find your products or services online. Instead of going to your competitors, they can buy from your business…

The main goal of marketing is to have a self-funding system…

Why is this crucial for growing your business and becoming successful?

When you have a self-funding marketing system, you can have a reliable process that pays for itself… and also brings in a steady stream of sales and profits every day.

What’s even better?

You can keep re-investing your profits to get more sales… day after day… month after month…

This is the key to EVERLASTING business growth!

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