Developing Business Internet Marketing Strategies

By | June 29, 2017

Hiring an outside company to develop an internet marketing strategy for the business can be expensive and time-consuming. Ideally having professionals complete all the work is easy and more successful than in-house implementation, but there are ways owners can cut costs and achieve desired outcomes. A major part of developing strategies is research and determinations. Owners who do some of that work themselves, can hire a consulting company to review the information, make recommendations, and assist with implementation. Taking a few steps before contacting a consultant can make professional marketing services fit into the budget.

Review past reports and sales to figure out how much one new customer is worth over a specific time period. Businesses that supply frequently used products or provide ongoing services may want to consider determining lifetime value. Big ticket item businesses, such as car dealers, home improvement stores, or builders will want to look at the annual value of a new customer. Decide on an appropriate investment amount to acquire each new customer. Take into account the other expenses of the business. The figure may be ten percent of total sales, twenty percent if overhead costs are low, or five percent to get started. Budget that amount on a monthly basis for consistent marketing throughout the year. Set sales goals as a way to measure the success of any strategy.

The consultant can use that information to help find ways to get the highest return on the investment from advertising campaigns. The focus can be search engine optimization, pay-per-click advertisements, Google AdWords, creating back links, or increasing the business presence on social media sites. The foundation work will indicate the most likely way to reach target audiences. Capturing the attention of a younger audience, for example, will be best accomplished via YouTube or Instagram. Email campaigns may be more successful to reach those of retirement age. Reports and responses to specific methods will provide feedback upon which to adjust techniques or formats. Consulting costs will be lower than the cost of having a strategy developed entirely by an outside resource. Business owners with limited income can still experience the traffic and revenue that result from excellent marketing techniques.