Marketing is one of the best ways to bring money into your company. In fact, marketing is the only type of business expense that comes with an expected ROI (return on investment). So, put some of your businesses’ money into marketing! If spent wisely, you will see your money (and maybe more) come back to you. (It’s been well-documented that businesses investing in marketing tend to fare better than those that do not.)

How much should a business budget for marketing?  Well, the answer is the very unsatisfying “it depends.”  The percentage of revenue spent on marketing varies considerably.  I’ve seen companies invest less than one percent, and I’ve seen companies invest 30 percent of their annual revenue.  (I don’t recommend either, by the way.)  The biggest variables are location of the business, competition within the industry and the level of risk aversion in the owner of the company. Is your business in a big city?  Is your industry saturated?  Do you think sky-diving sounds like a good time?  Your business will probably the higher end when budgeting for marketing.  On the other hand, maybe your business is in a non-competitive industry and the thought of wasting a dollar for a soda makes you nauseous.  Your business will probably sit a little lower on the marketing budget scale.    

Once you decide how much to set aside for marketing, it’s time to figure out how to spend the money you’ve allotted.  This is where most business owners really run into problems.  Many business simply want to do what was done the year before.  This may be a good idea if the marketing projects were successful.  However, if they weren’t successful, or just ho-hum, it may be time to invest in a new marketing plan. 

When planning to use your marketing budget, take a good, hard look at the following.  It will begin to be very obvious how to spend your marketing budget and get the ROI that you’ve been wanting.

1. Goals for the business.  What are your goals for your business?  Are you looking to grow?  Any plans to expand into other cities, hire new employees, create a new product or offer new services?  If so, the sky is the limit with your marketing campaign.  this is the time to get aggressive!  Maybe you’re wanting to hold steady in 2010.  If so, keep your marketing budget where it was for last year (including a little extra for inflation, of course).  It could be possible that you’re looking to downsize a bit.  This does NOT mean that you should cut out marketing.  It simply means that you need to figure out the best way to spend your marketing dollars efficiently.  Sit down with a pen and paper (remember those?) in a quiet place and really concentrate on what you want for your business in 2010. 

2. Target demographic.  To whom are you trying to pitch your products/services?  Are you aiming for 30-somethings?  (Try Twitter.)  What about women over 55? (Facebook is the answer.)  How about teenagers? (I see a texting campaign in your future.)  Interested in selling to mothers with small children at home?  (Blog, baby, blog!)  Your demographic will help determine where the marketing budget should be allotted.

3. Current/previous marketing efforts.  What did you do last year?  How about the year before?  Were any of the campaigns successful?  Look back on the tracking that you did for the projects.  If they worked, great!  If not, it may be time to tweak them a bit.  Don’t be afraid to try new things, but it’s important to look at what has worked historically for your business, as well.

4. What is your level of expertise and how much time can you devote to marketing?  How much do you know about blogging and social media?  Do you have 2-3 hours per day to devote to marketing efforts? If you (or an employee) is a marketing whiz, and you’ve got time to spare, you’re in great shape.  However, what if you’ve never been on a blog and you’ve only heard about Twitter on a commercial?  Or, worse yet, you have absolutely NO time to work on any marketing projects.  Never fear!  There are professionals everywhere who are ready and willing to help your company a success.  However, those professionals cost money.  Be sure to figure the cost of either hiring an employee with marketing knowledge or bringing on a consultant to help with all things marketing.   

No matter how you decide to spend your marketing budget, be sure that you HAVE a marketing budget.  Need help?  Contact us!

So, how much should you invest in your website?  I’m afraid the answer is that dreaded response:  it depends.  If you have a retail business, you will need to invest more money in building your site.  You have to make sure that your shopping cart is effective and safe.  Also, you’ll  undoubtedly be changing inventory on the site constantly.  If you have a service site (such as this one), you can get away with a smaller financial investment. 

Once you have a site built to your liking, you’ll need to invest some capital to make sure that it’s visible to folks who need to see what you have to say.  It may be time to hire an Internet marketer, an SEO specialist or a PPC manager.  These individuals are professionals who can help get creative with your site, help your site make it to the top of search engines, and help advertise your site to those who are searching for your products/services.

If you already have a website, it’s time to spend some time figuring out how effective your site is and how you can make it work even more efficiently.  Hire an expert to review your site and make suggestions.  I won’t promise that it will be cheap, but it may be even more expensive to overlook a detail on your website.  Even one error could decrease sales on your site dramatically. 

When it comes to your website, spend the time and money to built the site correctly.  Hire professionals to help guide you in this process.   Your efforts (and the professional’s efforts) will pay off in the long run.   Take a look at your website and contact us with questions.  We’d be lucky to help!

• MarketingExperiments tested product conversion with and without product ratings by customers. Conversion nearly doubled, going from .44% to 1.04% after the same product displayed its five-star rating. 
• RSS study: Burpee measured a 43% higher click-through on RSS feedswith reviews than without. (Burpee, December 2007)
• Shoppers who browsed the site’s new “Top Rated Products” page, which features products rated most highly by customers, had a 59% higher conversion rate than the site average and spent 16% more per order than other browsers of products. (Bass Pro Shops, June 2008)
• Giving shoppers the ability to sort products within a category by customer rating led to a sales increase of 41% per unique visitor. (PETCO, June 2007) 

Unbelievable, right?  So you may be asking yourself how you can start getting some positive reviews on the Internet about your business.  The answer isn’t so simple.  We’re living in the time of user-generated content.  The users are in control.  The company no longer has complete control over the message.  You can, however, take some proactive steps to encourage reviews. 

1. Ask your best clients to write about their experiences with your company.  When someone loves the service/product you’ve provided, they’ll usually be happy to write a quick testimonial or review. 

2. Encourage folks to review.  If you sell products or services online, it’s OK to encourage the users to rate the product.  But don’t take my word for it, listen to iJustine (a YouTube “celebrity”).  At the end of her videos, she encourages the user to “give it five stars.” 

3. Get involved with social communities. Check out what people are saying about you on the Internet.  Take some time each day to review Twitter, Facebook, YouTube and any other social communities in which your customers participate.  Respond to people who are making comments.  If they say something wonderful, thank them.  If they say something horrible, listen to them and let them know that you care.  By paying attention to their praise, concerns and complaints some folks may be impressed enough to actively market for you.

4. Spread the word about your great reviews.  If you are lucky enough to get wonderful online reviews, it’s OK to brag just a little.  Make sure that your website has a testimonial page, and link from your site to the reviews online.  Reviews can be like yawns — when you see someone else do it, you want to do it, too!  The more reviews, the better!

If you have any questions about online reviews, don’t hesitate to contact us.  We’ll be happy to show you how to take your online reviews and turn them into profits!  (And, if you’re so inclined, leave a comment with a review  )

1. Social media overload.  There.  In the middle of the first paragraph.  Did you catch one of the main reasons to hire a marketing professional?  Social media outlets are free and available to you … and ALL business owners on the planet.  Everyone has access to programs like Twitter, Facebook and LinkedIn; but no reader has the patience to sift through every business owners’ post, feed, blog or status update.  In order to use these sites effectively, you must catch readers’, friends’ and followers’ attentions.  Here’s where your friendly marketing professional comes in handy and is worth every penny.  Experienced social marketing professionals know how to write sticky content, catchy headlines and compelling posts to catch readers’ attentions.   Social media only works if someone actually reads the information!

2. Picking the right social media outlet for your business.  Social marketing campaigns are not one-size-fits-all.  Each social media outlet has a target demographic, a different vibe and a different way of disseminating information.  If your business targets women 55 and over, Twitter probably won’t do you a lot of good.  A marketing professional will immediately point you to Facebook.  If you are selling to men in the Mid-West, you need to make sure a majority of your Twitter followers are men in the Mid-West. 

3. Social marketing is time consuming.  If done correctly, a well-crafted social media campaign is well worth the time.  However, if you’re new to the social media game, you’re probably wasting a lot of time.  Social marketing is a huge time investment.  If you open accounts with different social media outlets, you need to maintain those accounts or risk turning off readers, followers and friends.  Let the marketing professional work on these campaigns so you can spend your time running your business.

4. There are plenty of fish in the sea.  Everyone knows about the “big three,” but what about the literally thousands of other social media outlets on the Internet?  Many of those smaller social marketing sites are niche sites, and that could be exactly what your business needs.  A marketing professional will take the time to research which sites exist and, although they may be small, will effectively market your business. 

Although social media is usually free to start it may end up costing you in the end.  With bland posts, untargeted messages, hundreds of hours (yes, I’m serious) spent writing, and missed ”hidden” social media opportunities, social media may be much more expensive than you realized.  If you’re interested in starting a social media campaign, invest in a marketing professional with social media experience.  She may be able to increase your return on investment and leave you with time to do what you love — run your business. 

If you have any questions about starting a social marketing campaign or helping an existing campaign, contact us!  We’ll be happy to give you tips and information about how best to leverage social media and increase awareness for your business.

The following is a quick breakdown of some of the most popular social media sites.   While you’re reading, think about your business and which channels have the best chances of reaching your target audience.   If you’re working on sites that are less helpful, consider shifting some of your time or hire someone to help manage your social media campaigns.

1. Twitter. Twitter is a micro-blogging site with an estimated 20 million users, many of them have joined the site in the last six months.  The average age of a tweeter is 31 years old.  Thirty-five percent of Twitter users live in urban areas.   The cities with the biggest Twitter populations are New York, Los Angeles, Toronto, San Francisco and Boston.  Fifty-three percent of tweeters are women.

2. Facebook.  With more than 250 million active users, Facebook is probably the most popular social media site at the moment.  Facebook is experiencing incredible increases in users in the 35-65 age demographic.   More than four million more US women 35-44 and nearly three million more US men 35-44 used Facebook in March 2009 compared to September 2008.  The fastest-growing group of users is women over 55.  There are currently 1.5 million active over-55 women users each month.   

3. Youtube.  Youtube users range in age from 18-55, evenly divided between males and females. Fifty-one percent of users go to YouTube weekly or more often, and 52 percent of 18-34 year-olds “often” share videos.  Nearly one-third of users view two-to-five videos during a visit to the site.

4. Linked In.  This “professional” social media site boasts a median user age of 40.  LinkedIn is currently reaching 11 million users in the US.  Of those users, 57 percent of these users are men and 72 percent are over the age of 35. Thirty-seven percent of users have a total household income that exceeds $100k per year.  Most are well educated – 82 percent of Linked In users have a college degree.

So, which sites work for you?  Which sites proably won’t work as well?  How can you manage your “social marketing time” more effectively?

In order to make sure that other tweeps get to know the real you (or your company), it’s important to give as much information in as little space as possible.  Be sure to include the following four items –  picture, location, website and description – and you’ll definitely see an increase in relevant followers.

1.       Post a picture.  People want to get a good look at you, not a brown box!  Choose a good picture.  It doesn’t have to be a formal headshot (although that will certainly work), but it should be a picture of you only.  If you’re concerned that you don’t have a picture you like or you want a little privacy, choose an avatar based on your company.  You may want to use your logo or a photo that represents you or your company.  You could add a picture of your product.  Maybe you have a “cartoon” version of yourself.  That works, too!  

2.       Specify your location.  People like to follow folks who are in their city/state.  Even if you’re a national company, it’s OK to list where you’re tweeting from.  People understand that you’re not the company, you’re merely a representative of the company. 

3.       Have a website?  Be sure to list your url on your profile.  This will guide folks to your site where they can learn more about you or your company.  It’s a very powerful link!  On any given day, there may be several hundred or several thousand folks looking at your profile.  Each of those people is a potential customer.  Make sure they know you have a website!

4.       Make sure that your bio (although very short) will give people an insight into you or your business.  Because Twitter bios have a very limited length, it’s important that yours is informative and catchy.  Don’t be afraid to show your personality.  You may also want to contact information or a call to action. 

Want more twips (or, tips, for you newbies), contact us!  We love Twitter, and we’re happy to let you in on all of the dirty little twecrets!

In my experience, the folks who fit into one of my categories are of much more value to me than 10 times the followers who don’t fit in any category or basically serve as spam.  As a result, I have very strict guidelines about whom I follow and I rarely deviate.  Following my own rules has kept me interested in Twitter and resulted in tons of great information.  I’m not overloaded with superfluous tweets,  and I’m always reading things that interest me.

1. Location, location, location.  I follow people who are in my area.  Even in the virtual world of Twitter, I find that locals have more relevant news, events and recommendations.   If you’re interested in your neighborhood and/or city happenings, locals are always the best ”follows.”   Not to mention that you may actually get a chance to meet these folks in person.  I’ve met many of my Twitter friends and they’ve become acquaintences and clients!

2. How frequent is the Tweet?  I find that folks who only have 3 or 4 posts are typically “trying out” Twitter, and many drop off after the first few days.  At the same time, folks who are tweeting 30 or 40 times per day actually seem more like spamers.  Most of them don’t tweet about any significant events or they try to tweet about every significant event.  The tweeps I follow typically have 3-10 tweets per day.   These people are obviously involved in Twitter and they tweet when they have something to say — not just to hear themselves tweet.

3. Hey, you’re interesting!  Typically, the best follows are people who share interesting information about my profession or my hobbies.  I get a lot of relevant information this way.  It’s similar to reading a trade publication or a newspaper every day, except it’s up-to-the-minute information.  

4. We’re engaged.  No, not in the wedding way, in the conversation way.  After all, it’s more about the conversation than the content.   If I tweet something and someone retweets or comments –  I follow that person.  Twitter is all about engaging conversation.  If someone is willing to “talk” to me, I’ll “talk” back. 

Do you have guidelines for Twitter follows?  I’d love to hear about them.  Maybe we’ll end up following each other!

First, the definition:  SEO stands for search engine optimization.  Search engines like Yahoo and Google are used by millions of people every day to find information on any number of topics.  You probably use search engines, as well.  You go to Google and type in a few words to try to find information.  After you type these words into the search bar, the search engine will “magically” find sites that are relevant to your search.   The companies with sites found on the first page of results are, no doubt, masters at SEO.  They know that these results aren’t magic, they actually come from strictly following a methodology for attracting the search engines’ attention.  Sites that follow this methodology (SEO) will see their sites increase in rank and may even grace the coveted “first page of Google.”  

So, the key question for every business owner is “How do I make sure that when a searcher looks for my type of business, my website appears?”  The answer is search engine optimization.  Although this can be a complicated subject matter, on the most basic level, there are four main components to SEO. 

1. Relevant incoming links.  One of the best ways to make sure that your site is found is to find other, relevant sites that will be willing to link to your site.  Sounds simple enough, right?  Unfortunately, this can be very difficult.  Most sites do not want to link from their site to a competitor’s site.  A successful link strategy must be well-planned and well-executed. 

2. Content, content, content.  It’s very important that your site has relevant content with specific key terms.  Key terms are those terms that people looking for your type of product or service might type in to Google or Yahoo.  There are many different sites that help analyze which key terms are searched the most frequently.  In some cases, you can also use common sense to figure out which terms searchers are entering. 

3. Site structure.  Even though you may not be able to see the “back end” of your website, the search engine “spiders” can and do.  As a result, it’s crucial that your website builder and/or designer understands the basic principles of SEO and includes search-engine friendly web building techniques.

4. Website age.  The age of your website can affect its placement in the search engines.  The idea is that the longer your site has been live on the Internet, the more credible the information on that website.   Unfortunately, there’s not much you can do to speed up this process.  It’s just a matter of time…

So, now that you’re an “expert” on SEO, what’s the first step?  You should contact someone (like your friendly marketing consultant at Lucky Marketing Firm ) who works closely with SEO companies in order to start developing a SEO plan.  This can include finding key terms, developing a linking strategy, creating content, building a blog and beginning an Internet marketing campaign.  It may seem overwhelming at first, but speaking with someone familiar with the process will ease a lot of the stress. 

If you’re ready to begin working on SEO, but unsure how to get started, contact Lucky Marketing Firm!  We can help whether you’re a beginner or if you’ve had a long-running SEO campaign that needs a few tweaks.  We know that the best SEO campaign is one that you don’t have to worry about.  We’ll explain the process and act as a liaison between you and the SEO company. We can “translate” all of the technical jargon, review your contract with the SEO company to make sure you’re getting what you’re paying for and explain the process at every step along the way. 

Who needs luck?  You’ve got Lucky!

Most clients say that they don’t know what’s working because they simply don’t know how to track that information.  I hear this all the time, ”We advertise in ______ newspaper, but I have no idea if it’s working.”  Does this sound like you?  Here’s an easy, quick, non-technical way to find out if your ad works– add a different toll free number to each and every ad/direct mail piece/website that you have.  This way, at the end of the month, you can review your telephone bill and know immediately which numbers are getting calls (aka–the ads/websites/mail pieces that are working) and which numbers aren’t getting called (aka–the marketing items you can drop immediately). 

OK, so now the big question:  How do you get a toll-free number?  There are literally hundreds of companies who provide this service.  In the past, I’ve used McLeod.  They provide and route toll-free numbers and they can do “enhanced” routing, as well– they can actually route one number to multiple telephone numbers.  I know, it gets a bit confusing; but if you contact them, it can be quite easy.   You can choose the toll free number you’d like, they will check availability and your very own toll-free number will be routing to your business telephone usually within about 48 hours. 

Just one quick phone call and suddenly, you’re the marketing guru in your office.  You’re on the path to making your marketing dollars work for you, you lucky devil!