| |
Subsistence Vs Growth
How Do You Want to Market?
By Meredith Keller
Merkell, Inc. Founder and President
|
If there's one great thing about selling on the internet, it's the metrics you
can track. Business owners love knowing exactly how much they pay per click and
per sale. It allows business owners to control expenses and set goals to make
his or her business profitable.
Ask yourself a question though: If you had to get a really cool birthday
present for a friend, what's the first store you'd think of? Got an answer in
mind? Now here is the second question: Was the store that came to mind one that
you found originally from AdWords results? I am guessing the answer is "no".
Here's why: While advertising programs like AdWords do a wonderful job of
getting your products in front of consumers looking for the thing you're
selling, they don't build your brand. The consumer probably won't remember the
company she happened upon while searching for something else, and chances are
the consumer will greet shops found through AdWords with a very utilitarian
approach; "Does this shop have exactly what I am looking for at the lowest
possible price?" After all, the consumer has never heard of the business he or
she found on AdWords, and she has no established brand loyalty. A business that
relies purely on cost-per-click type marketing doesn't stand much chance of
developing that caché with the consumer that makes your shop the first stop on
their list.
If you search for a vintage t-shirt, do you think Abercrombie and Fitch will be
at the top of the AdWords results? Nope. You'll probably find them on
billboards in Manhattan and in trendy magazines. They're thinking bigger.
They're thinking about building a brand, and you can bet that they sold a lot
more vintage tees this year than just about all of the companies struggling to
be at the top of AdWords' results for those keywords.
|
|
What does all of this have to do with the small business owner? You're not
Abercrombie and Fitch and you don't have millions to spend on marketing.
However, this doesn't mean brand building should be excluded from your
marketing plans. For a small business owner, it's more about building your
brand with a smaller and highly targeted audience. If you want to be a go-to
business selling vintage tees, getting banner ads for your business on websites
with a hip, style-conscious audience should be a priority for you. Think about
who wears vintage tees and what websites they frequent. Maybe an alternative
music blog or independent comics website is the place to reach your niche
audience.
Once you've found the most appropriately targeted places to run your banner
ads, don't obsess over the cost per click or cost per sale. You're paying for
something more valuable than the instant gratification of the sale you'll get
today. You're paying for the brand name recognition and familiarity of your
target audience. Obviously, you will want to see some sales and click-throughs
for your banner. If the results are truly abysmal, that indicates a poor fit
for your ad or maybe even a poorly designed ad. If, on the other hand, you're
getting interest from the site you posted your banner on and get some sales out
of it, you're on the right track.
The other important aspect of building your brand is public relations. This
means getting a buzz going about your brand. If you sell clothing, you want the
fashion bloggers and fashion magazines talking you up. If you sell toys for children, you want
parenting magazines and parenting bloggers talking about you. An expertly
crafted and executed PR campaign is worth even more than you'll ever get from
your ad spending since it's about getting trusted and impartial sources to give
your brand the stamp of approval. If you don't have the time or expertise to do
it yourself, hire help. Lots of PR firms specialize in helping smaller
businesses get their name out there, so finding one that can accommodate your
goals and budget is an important step in making a name for your company and
growing your brand.
If this all sounds like a lot more than you could afford on your own, consider
working as a coalition with other companies looking to build their brand with
your target customer demographic. This is exactly the type of service offered
by Merkell, Inc.'s shopping portal websites, but if you don't find your niche
through one of our sites, consider starting one of your own. What you don't
expend financially will cost you in terms of your time and effort, but a
cash-strapped yet driven business owner may find the trade-off worthwhile.
Whatever angle you choose to pursue in building your brand, make sure it's
something that's a great fit for your business, and above all else, don't
discount the immeasurable value of this type of marketing.
Did this article answer your questions? If you're interested in a personalized
consulting session to help you address the issues covered in this article
please contact us to schedule a consultation.
Return to the Merkell, Inc. Help Center
| |
