So you’ve got your blog set up, your advertising campaign created and your social media marketing strategy in motion, but why aren’t you making any money?
To many times I’ve seen newly minted internet entrepreneurs, businesses and online marketers make the mistake of thinking that just because they’ve set up a blog and created their marketing materials and ad campaigns that business will just “flow” in. This is far from the truth however. So why do they continue to push forward without actually gaining any financial return from their marketing and advertising efforts? A simple answer is, they just don’t know any better!
To best illustrate my point I’d like to tell you a brief story…
A few weeks ago I was visiting my parents to work with my Mom in running our publishing company. Needless to say, my father is somewhat of a pessimist and was frustrated with the lack of progress in generating revenue and thus an income for my mother. My mother and I were discussing marketing opportunities when my father chimed in and made the following statement:
“You’re wasting your time and money with all these book signings and book shows your attending. You should be advertising on T.V. like Dan Brown does.”
Now I love my Dad, but his statement although well intended, would not benefit our publishing company in anyway. Why you ask? Well, by taking such an action we would be “Shotgun Advertising” to the masses! Shotgun advertising is not as effective as a highly targeted advertising and marketing campaign and will quite literally kill your marketing efforts or render them useless. Although tv ads reach a larger audience than book signings and book shows, they are more costly and reach a large audience of uninterested buyers. Where as, book signings and book shows allow us to reach an audience of readers and authors, people actually interested and looking for our product in highly targeted environment.
Moral of the story, spend a good majority of your time researching and identifying your niche (target) market. I’m reminded of the 40/40/20 rule. A rule I learned from Ben Settle, a well known and respected copywriting expert.
- 40% of the sale is talking to the right person.
- 40% is in the offer you make.
- 20% is the actual words you write.
By identifying your niche market and focusing your marketing efforts toward providing them with the products and information they seek, you’ll find your return will increase ten fold and you’ll be better for it.
For more information about identifying and marketing to your niche market and attracting vast numbers of prospects pick up a copy of Magnetic Sponsoring today. It’s great information and you won’t regret it!
Happy Holidays!
Sean Smith
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