4 Internet Marketing Tips for Entrepreneurs
Today’s entrepreneurs spend a substantial amount of time learning how to grow their companies through internet marketing. According to various sources, 84% of respondents say that the most apparent difference between today’s companies and those of five years ago is the use of online marketing strategies. Below is an entrepreneur’s guide to four basic marketing concepts that all sellers should know.
Customer Loyalty and Upselling Are Important
Online campaigns are done with an expectation of profitability. These single-sale campaigns are so named because individual sales are supposed to be profitable, but competition and increased advertising costs can have the opposite effect. It’s easier to keep a current customer than it is to find a new one, and owners should create strategies that increase the number of services or products customers buy each time they visit.
By installing tracking pixels through various advertising platforms, business owners let others do the heavy work of collecting marketing data. Such pixels work as targeting tools that help the platform find users with similar preferences and behaviors.
Testing Doesn’t Always Pay Off Immediately
Testing a new marketing channel may not be profitable in the beginning, but perseverance often pays off. When a new ad channel converts at less than 50% of the rate of an existing channel, it may need optimization more than a bigger budget. Ad testing is particularly beneficial for successful accounts that simply need more traffic.
Expand or Discontinue Campaigns Based on Past Results
Using tools like Google Analytics is an effective way to collect data on the pages users visit, which products they buy, how long they stay on certain pages, their ages, their genders, and their geographical areas. However, such data doesn’t do much good if the business owner doesn’t do anything with it. Use this data to shape future campaigns, and watch conversion rates grow.
Entrepreneurs wear multiple hats, and sometimes, online marketing falls to the bottom of the list. This is unfortunate because most consumers buy things and look for information online. With these tips, online and brick-and-mortar sellers can reach potential customers at every stage in the buyer journey.