Is Social Media Marketing Trading Time For Money?

Lot’s of discussions going on around the Internet and in business meetings about how much time should be spent on social media marketing and how should that time be allocated.  A very active discussion is taking place at Chris Brogans blog where he postulates the framework of two hours a day broken down like this:

• 1/4 Listening in forums, blogs, tweets, competitors sites…
• 1/2 Commenting and communicating on and off your sites
• 1/4 Creating content…everything from blogging to video creation

Regardless of your personal view on how much time and how to allocate it, the point is social media marketing requires time, commitment and engagement. The question is…is this effort worth it?  Will I get more customers, more effectively and make more money? Simple question.

Our experience with our own products, and the clients we have worked with, point to these conclusions:

1. Versus a media mix of just PPC and/or traditional media, we are able to lower our average cost per lead significantly when social media marketing is added to the mix.
2. We become better at what we do because we are more in tune with the marketplace.
3. Our average lifetime value of a customer is always going up because we have a system, and multiple touch points, for activating our customer base when we have new products and services to sell.

Media and marketing is in a state of disruption.  If you have not already downloaded our free book on the subject I really encourage you do do it. The key point, if the results we get are real, the economic advantage a business can derive from implementing a social media marketing program is significant.

We believe that is leverage. Not trading time for money. Getting significantly more value for the time put in is what successful business know how to do.

What do you think about the time for value trade off?

Business Marketing Today: We Need A New Tool Chest

In Mastermind groups and client meetings I’ve noticed two things.

First, most companies (by the time we actually meet them) acknowledge and embrace the changing marketing landscape.  They get it…and are eager to learn how to adapt before competitors. Second, the first instinct is to use old techniques in a new paradigm. I see it because I sometimes do it myself.

Seth Godin blogged about the need to “change hammers” based on the situation.  We all tend to go to the same old tools based on training, comfort or experience.  This new normal of marketing requires a new kind of professionalism.  This is about customer focus, flexibility, dedication, insight and smarts.  Out-shouting your competitors does not necessarily work, and can in fact do more harm than good.

Taking old school tools and putting them into a new paradigm will not work either.  Instead of interrupting prospects and outshouting competitors, focus on education with your prospects. Give them something really valuable, your unique knowledge about how to solve a problem they have. Instead of continually washing the same message over prospects, get into a relationship where you nurture, build trust and authority.

The cool thing about this new normal is that technology makes it possible to automate most of the tasks so you can focus on the marketing.

Trust me, if you do this right you will not only get more leads and customers, but your business will gain a huge economic advantage. More on that later…

5 eMail Marketing Guidelines To Unlock New Revenue From Your List

Let’s face it, the effectiveness of  email marketing can make or break your business profits.  You’ve spent the time and treasure building your list of customers and prospects. This is your biggest asset. But unless you are able to effectively tap into your list and regularly active new revenue, all that effort is lost.

The name of the game in this new marketing normal is lowering cost per lead and increasing the lifetime value (revenue) of your customer and prospect base. If accomplished, you will have more profits than your competitors and be able to dominate your market.

Here are 5 key email marketing guidelines to make sure you are maximizing the opportunity:

1. Keep the attention on your subject line. Make sure you have a “remarkable” subject line that causes your prospect to open the email and then deliver on the subject line quickly in the body of the email.
2. Create a cohesive mix of promotional and informational copy to maintain your readers interest.  If you are only selling, readers will loose interest quickly, and worse, not open your emails in the future.
3. Engage your readers. You have a good deal of information about where your prospects are in the buying cycle. Hopefully you segmented your readers into different lists so you understand their emotional and product needs very well. Tap into their emotional state, let them know you understand what they need and service that need.
4. State your call to action clearly. Be direct and lead your prospect to the next action…they will follow you if you are clear and appear to be motivated to help them solve a problem.
5. Take on the role of your reader.  Step into the dialogue going on in your customers head and understand, and anticipate, what their needs are (emotional and physical).  This will also help you figure out the right sequence of products and services to offer over time as you continue your relationship with them.

Make sure you are measuring everything so you can fine tune your email marketing campaigns over time. The biggest thing, just do it.  I cannot tell you how many businesses I have worked with have large lists and do nothing with them.  Many have the sophisticated autoresponder capabilities but treat email marketing as an afterthought.

Don’t make that mistake. It will cost you market domination!

Business Marketing: How to get more clients and bigger profits using new technology and applications to dominate your market.

Good news for the internet newbie: To the swift go the spoils. Master social marketing, and you’ll dominate your niche.

Entrepreneur hopefuls who are seeking for ways to succeed in online business may finally have a more level playing field thanks to social media. Reduced costs involved with social marketing and the ability to interact with customers easily through new technology and social media applications, make it possible for newbies to jump in and quickly become a trusted authority in a certain niche. This translates to more customers and increased profits in less time.

There was once a time when new business owners had to fight their way to the top and take a beating from competitors, but social media has changed all of that. It is a new game now, and if you can learn the ins and outs of successful social marketing, you can dominate your market.

Attract and convert customers

One word can describe the best philosophy for getting clients: relationship. If you can connect with your prospective customers, engage them and create loyalty, you are in an excellent position to convert prospects into paying customers.

But how do you build these valuable relationships? The answer is to go where your customers are. Use simple online research to identify a number of social media sites where your customers hang out. Search for forums, message boards, blogs and social networks where these people are asking questions, posting reviews and building relationships. Once you have found these sites, join in on the discussions. By posting thoughtful questions and valuable information to help others, you can become a part of the community.

It only takes a handful of quality communications with a group to become a valued member. When you become known as the person who brings something worthwhile to the table, you begin to establish yourself as a person of authority on the topic or niche. Then, and only then, can you begin to share your business subtly—through a signature link or a product mention.

Rather than approaching these social communities from a seller’s perspective, you approach them from a relationship perspective, which allows you to earn the right to present your products and services in time.

Create bigger profits

In order to increase your business profits, it is important to get past the mind-set of doing anything and everything for one sale. Instead, your focus should be on the repeat customer. After all, it takes a lot of effort, communication and sometimes money to convert that one customer, so why not make it worth your while?

The way to maintain the connection with the customer is to communicate continually. Consider sending out a monthly e-newsletter to stay in touch with customers in order to keep you fresh in their minds. That way, when they think of something they need, they will come to you instead of the competitor.

Make your marketing communications more than just a sell message. Offer something of value—a whitepaper, special report, e-book or video—to build rapport with your customer list. By sharing with customers information they desire, you are further solidifying yourself as the authority on the subject in their minds. This way, they click on your link and visit your site when they are looking for solutions.

Business marketing is so much more than it used to be. Rather than pumping money into ads that may or may not work, social media technology and applications now provide you with low-cost methods that in many cases are far more effective in reaching customers and increasing business profits.

Chris Marentis is a serial entrepreneur and recognized Internet Marketing expert having served as SVP at AOL and CEO of Clearspring Technologies. For more information on Business Marketing, go to http://www.gennextmedia.com today.