Effective Internet Marketing And Your Product
You spend a lot of time getting a site ready and built, content copyrighted for the site, professionals to come in and make changes to the site as needed, hours and hours spent adding your links to online directories, time spent optimizing your content for the search engines, energy delved into your pay per click campaign, nights wasted digging thru stat reports and figures, and much more marketing related activities all in the name of first and second page rankings in major search engines.
You did a good job and your listed high in the rankings.. you got the best ROI on your pay per clicks, the directories all accepted your links, email blasting is going on every week to your customers about your products and services, RSS feeds are being subscribed too, and your feeling you did a great job, and if you got this far with your site, you have.
All that time however, doesn’t mean anything if your not closing sells or making money on all your efforts. At some point, marketing ( and Internet marketing ) makes a leap into selling. If you spent all this effort to get the traffic you need, but are not making conversions, something went wrong and it might have gone wrong when you first started your business.. not in the web marketing process.
This is a true story of a friend of mine. He had a business idea and a plan to sell widgets for a certain price. As most people, he started his business on a shoe string.. he had very little capital and no experience. He had seen other people selling widgets and making a lot of money, so he thought he would get some widgets, sell them online and be wealthy as well. He knew he needed marketing to get him the traffic, and he obsessed with getting high rankings on search engines and getting his link everywhere he could. He spent days and nights reading all he could on SEO and Internet marketing techniques and then spent even more time putting the things he learned in place.
He spent a lot of time and money on marketing his web site, and to be honest, he was getting great results.. first rankings on all the search engines for his widgets and tons of traffic left and right… but my friend failed at his business venture. He was bankrupt within months and had to take on a second job to support his family because of the debt he incurred with the online business. So what was his problem?
Just because you sell widgets and you get all the traffic you need to sell, doesn’t mean you will make money. People too often get obsessed with rankings and traffic and don’t look at the ‘guts’ of their business, their product / service.
The problem was, my friend had widgets and traffic, but his widgets were of poor quality compared to other widgets, and cost more than other widgets on the market. He also wasn’t making a good enough profit margin on those widgets either.
We live in an age where you can compare cars, widgets, services, plane tickets, and more in less than a second on the Internet. Nothing is safe, and product review sites have popped up all over the place to help consumers compare and research what they are buying.
My friend didn’t make the money he wanted to, and now feels betrayed by the Internet. What my friend didn’t do was take the time to research and make better his product ( the widgets ) and instead focused all that time on marketing and making his website fancy… the people did come, but they didn’t want his low quality, high priced widgets when they could go elsewhere online, or even down the street to get better quality, low cost widgets.
Even when he did sell a widget, he didn’t make enough profit on it to justify the losses he was making. He was basically trying to market a product that sucked, and when that happens, your whole business is doomed to fail.
I hear more and more often how everyone wants to be in the top 5 rankings for Google for ‘insert term here’, but how do you know anyone will want what your selling? Whats your market like for your product? How does it stack up to the competition? Whats your plan on returns and charge backs or defects? Are you making enough profit to buy more widgets?
You can spend all your time generating traffic to your site, but is your product or service good enough to sell against your competition?
I think many people can take advantage of slacking off from the marketing, to actually review their services and products and see how they can better them for their customers.
Having a good product at a fair price will always help your bottom line.
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- 6.26.06 / 4pm
- Internet Marketing