A Smart Business Adapts! A foolish business goes under clinging to tradition.
After 21-years in this business, I have seen my share of great little companies, run by hard-working and honest businessmen and women eventually go out of business. Why did these companies bite the dust and close their doors?
1. They Refused To Adapt!
- They didn’t understand social media and didn’t think it would ever catch on
- They continued to use traditional media because it has always worked
- They relied on their existing customers to keep sending them referrals
- When the cash flow dried up they tried to find other ways to cut back and marketing expenses were the first to go.
2. They Forgot That The Life Blood Of Any Business Are New Customers!
- SEO & Online Marketing is replacing traditional media and advertising
- Social Media and Reputation Management are the concern of EVERY business
- Tactical SEO can be a complicated and long term solution
- 12% of US population is relocating, these people don’t know you
3. They Failed To Grasp That Search Engine Marketing Is A Must!
- Pay Per Click / Paid Search (PPC) is the fast track to new customers
- Digital Display Advertising to brand where your prospects are
- Social Media Marketing (SMM) has become an art form to marketers
- Search Engine Optimization (SEO) is still the holy grail of online marketing
This all may sound a bit dramatic. The bottom line is we have a different world today than we have ever had. Any business that does not adjust to its changing market will eventually find itself going the wrong way on a one-way street.
Solutions To Any Business Needing To Get New Sales!
- When a business needs sales it should turn first to its most predictable sales and marketing channels. That usually means going back to those they have already done business with for repeat business or referrals to friends or associates.
- The second source should be new channels that they can benefit from quickly with some level of predictability. Paid search or pay-per-click advertising should be considered. Google, Yahoo, and Bing all have Paid Search as the backbone of their revenue models. Find a good manager to assist with setting up your program correctly.
- Display Ads that operate on the same principle as paid search meaning good visibility but cost you only if someone clicks on your ad. This method allows you to display your ad geographically and deliver them only to publications that have a contextual match (relevant) to a story, news event, or article of the publication. For instance, an ad for home remodeling, handyman service, or movers may be seen on Zillow or Trulia based on their content and user profiles and create lots of great new opportunities for these savvy marketers.
- SEO or search engine optimization is always advised but has a much longer lead time and is rarely considered a quick turn for cash option. It should however be part of any SEM or Search Engine Marketing effort.
- There are many others such as email campaigns, blogs, Groupon-type sales channels, and many more.
Word to any wise business. Learn the latest in social networks and digital marketing. If you don’t have time, then find someone that does know and can be trusted. At Utah Website design we spend lots of time working with various businesses that have paid a bunch and gotten nothing in return. Better to have been screwed and then be wiser on round two, versus never taking the chance and having the decision not to change or adapt be the decision that delivers the fatal blow to the business.