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The Business Opportunity Seekers Quandary-“Annuals or Perennials?” | business opportunity seeker

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  • The Business Opportunity Seekers Quandary-“Annuals or Perennials?” | business opportunity seeker

The type of marketing done after a business opportunity seeker finds that perfect opportunity will determine if they succeed or fail

Did you ever plant flowers?   You have two different kinds: perennials and annuals. If planted correctly and taken care of, perennials will regrow year after year. Annuals on the other hand last one season and go kaput.

Offline (old school) and online (Internet) marketing are kind of like that.   Offline marketing as in local newspaper, radio and yellow pages can bring in dollars year after year – like a perennial. Internet advertising on the other hand has a much shorter life span –like an annual.

Only a business opportunity seeker who’s lived under a rock the last 15 years would think the Internet wasn’t a big deal. However when you rely too much on the Internet to attract prospects you run the risk of having an out-of-balance business.

We can agree the Internet isn’t going away and many prospects for a jewelry store are going to be found online.

The allure of the Internet is many… It offers many ways to get your name out there– with many of those ways costing you little or no money.   I get why a retailer would want to spend resources doing Internet marketing. The problems start when you rely too much on the Internet. Let me explain…

Many Internet marketing tools only have short-term effectiveness… one internet marketing tool may last a couple years; another may last a couple weeks.

Take an internet favorite– search engine optimization. You go to the trouble of optimizing your website and proceed to get other websites linking to your site to improve your search engine rankings and BAM! All of a sudden Google changes how it ranks pages and you go from #1 and fall completely off the first page.

Or you go to the trouble of building an email list of customers that you email regularly and BAM your customers are deluged by spam email so they get heavy handed with the delete button and the open rate of your emails plummets.

Or you go to the trouble of getting thousands of likes on Facebook and BAM Facebook changes the rules so the likes become relatively useless when it comes to contacting those people.   These are just three of several real-life examples of internet marketing that can be here today and gone tomorrow.

Over the last few years many retailers have shifted their marketing spend almost entirely from offline to online… mostly because they grew frustrated with the offline advertising and thought online advertising offered a better opportunity. The problem with having all your eggs in an online marketing basket is that you can wake up tomorrow and find that your basket suddenly has big holes in it.

That doesn’t mean a business opportunity seeker should abandon online marketing. It means you need to balance online and offline marketing so that your store is ensured a continual flow of new prospects and only suffer minimal disruption when one of those marketing tools stub a toe.

So how can you tell if a business opportunity seeker is putting too much money, time and effort into internet marketing at the cost of losing potential sales because you’re not doing enough offline marketing? Just ask yourself these questions…

  • Do I spend more time thinking about changes to my website or my Facebook page than I do my next newspaper ad?
  • Do I consider newspaper, radio and yellow page advertising out dated?
  • Do I only use email to stay in touch with my customers– and never use regular mail?
  • Do I prefer Internet marketing because it’s less expensive or in some cases completely free?

If you’ve answered “Yes” to 2 or more of the questions you’re probably spending too much time, effort and resources on online marketing and not enough on offline marketing.

Yes, internet marketing is more interesting, more fun and many times the results can be seen much faster than “old school” marketing, but that doesn’t mean that it’s more effective.

As I mentioned the short-time effectiveness of internet marketing is a real problem. Today everything can be going just fine and tomorrow you wake up and have your once profitable sales funnel closed for good.   And even though internet marketing can be very low cost or in some cases free, it doesn’t mean that it’s always effective. Spending $0 (but a lot of effort and time) to bring in $0 sales dollars still isn’t a good use of your time and resources.

One way to test your marketing no matter what type of business opportunity you’re seeking is simply asking each and every customer or prospect who stops in or calls your business “how did you hear about us?” That answer will tell you all you need to know!

 

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