Tag: marketing tips

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Six Marketing Tips Every New Entrepreneur Needs

Understanding marketing is essential to your success as a new entrepreneur. Marketing is how your target audience finds you. Without marketing, you won’t gain the exposure to grow a sustainable brand or business. Marketing is how you gain the trust of your target audience by showing, telling, and proving that your products, services, or business are there to support them.

 

The following are six marketing tips every new entrepreneur needs to get started right:

 

Focus On Building Relationships with Your Target Audience First

Before you sell to your audience right away, learn to build a strong relationship first. This is possible by sharing valuable content through videos, opt-ins, or an email campaign. In other words, the freer value you provide in the long run, the stronger the relationship becomes — making it easier to market your products at a later time.

 

Share Engaging and Valuable Content

No businesses today, online or off, can survive without content marketing. Without content, your audience will not understand the type of value you provide. This can be done through blog posts, videos, pictures, or even sharing user-generated content.

 

Don’t Skip Email Marketing

Emails offer the highest return on investment compared to all other online marketing strategies. There is a myth that email marketing is dead, but this is far from the truth, with nearly three hundred billion emails being sent around the world today. If your customer doesn’t have social media yet, they have email. Email marketing is powerful because it is a private and intimate conversation — making them likely to purchase a product from you if they really understand its value.

 

Set Up a Business Blog

A blog or website is the only way to have sole ownership of what you share and sell to your customers. If a specific social media platform disappears, you won’t reach those customers. However, you know this won’t happen since you control your blog. Making it easy to get your customers or target audience whenever you can.

 

Use Social Media

You can’t avoid social media. Even just one social media account can sky rocket your reach and exposure as a brand. Did you know that nearly four billion people worldwide use some form of social media? This means your potential to reach your target audience is almost limitless.

 

Get Help

Marketing is one of the first places beyond accounting to make room for a proper budget. Marketing helps you reach certain revenue goals and reach your target audience quickly and effectively. Without marketing, it is unlikely your customers will find you very easily.

 

Marketing doesn’t need to be complicated. As long as you create content that your target audience needs or wants, you will likely be successful. Unfortunately, many entrepreneurs make mistakes that can hinder their success by ignoring customers’ needs or not taking the time to share your value. Without marketing, you won’t prove that your business is worth its time to your customers.

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Nothing Is Done Until You Track Your Metrics

As you work toward building a strong and highly converting email list, one of the ways you can know you’re doing things effectively is to track the numbers. Your metrics are the key to knowing what works and what doesn’t work for your unique situation. The following metrics should be tracked.

email marketing

  • Click-Through Rate – Knowing how many people who open the email are clicking through to at least look at whatever you’re trying to communicate with them helps you know if your initial messaging is persuasive enough.

 

  • Conversion Rate – Knowing how many people answer your CTAs compared to how many people are clicking through is a number that is important to know because it helps signal whether you’ve done an excellent job targeting your ideal customer or not.

 

  • Bounce Rate – How many of your emails are bouncing and not being delivered? That can signal an issue with your email messages and might signal a problem with how you’re collecting email addresses if they don’t work.

 

  • List Growth Rate – How fast are you growing your list? If you know this number, you can project based on your activity how fast you can grow your list to where you want it to be.

 

  • Sharing / Forwarding / Engagement – One key performance indicator that helps you know if you’re doing a good job targeting your audience is how many of them want to share, forward, or engage with your messages compared to how many who open them.

 

  • Return on Investment – How much money can you trace directly to your email messages and email list compared to how much you have invested or spent on the system?

 

  • Open Rate – Out of all the emails you send, how many are opened on average? If you send out one email to all 1000 subscribers, what percentage opens it? How does this number compare to the industry standard?

 

  • Unsubscribe Rate – When you send messages to your audience, how likely are they to unsubscribe? Sometimes marketers get nervous about causing their subscribers to unsubscribe and stop sending messages. This is a mistake. You want your messages to segment and weed out uninterested parties. If your unsub rate is high, you may have a targeting issue.

 

  • Spam Compliance – Your email autoresponder has a way to test each message for spam issues, plus you can look in the back office and find out if anyone’s complained about your messages. Understanding what triggers spam issues can help you avoid this problem.

 

  • Revenue Per Email – Knowing how much you earn on average for each email you send to your list subscribers can be very motivating to help you send even more useful messages to them.

How to Optimize Your Email Subject Lines

  • Revenue Per Subscriber – How much revenue on average do you earn per subscriber on your list? This number will go up as you get better at targeting and is a great number to be aware of so you can understand how much you need to invest to reach your goals.

 

Check your numbers before each campaign as well as periodically during the campaign to ensure that you are doing what you can to achieve your goals. The only way to be sure is to get the data because your hypotheses can be wrong. It’s always better to know exactly what is working and what is not working rather than make assumptions.

 

How To Build A Wildly Profitable Income Stream From Home Without Lies, Hype, Manipulation or Pressure…

 

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