A clear strategy is essential when you are building your business online; without it you will quickly find yourself floating in a sea of un-focused misfits waiting for someone to throw you a rope and pull you back onto solid ground. A strategy provides you with a roadmap to follow and gives you a direction to head for while taking consistent steps to reach your goals.
Simple isn’t it?
It should be. But it’s not!
For all but the successful 5% of online business owners, strategy is a mystery; a word to throw out there in the hope that it will fool some other fool into believing you have a clue where you’re going.
Here’s the thing…
The problem most marketers face is that they have been given the wrong strategy to begin with. And this is either costing them more money than they are making, or focusing their time and attention on all the wrong activities. The wrong strategy is as bad as no strategy at all.
Think about it…how many marketers do you see pushing systems where the first thing you do is start buying one affiliate product after another, just so that you can then sell that same string of products as an affiliate to your own list of subscribers (if and when you manage to generate a lead). A strategy like this will work for a very small number of people, i.e. the “system” owners who are usually the master affiliate, and the guy with the big list of subscribers who can quickly create cash flow by signing up a group of affiliates into multiple programs. Sound familiar? 😉
So what should a good strategy look like?
Well…in today’s online world, where advertising is becoming more expensive by the minute, a good strategy should take into account where your business is today, where you want it to be tomorrow (and in 24 months time), and what you can do to continue to increase conversions while reducing overall cost selling your primary product or service. What do I mean? Let me explain…
A new advertising campaign will cost you the same amount of money to run whether you make 1 sale, 20 sales or 200 sales. The only variable will be the number of sales you make. This can be as a result of your initial advertising or (if your strategy applies leverage) as a result of customer referrals. A good strategy will take this into account and help you to focus on building a marketing campaign that will minimize leaks and maximize returns. Your strategy should allow you to plan lead generation, lead conversion, and find ways of creating customer loyalty to take your marketing message and deliver it (by word of mouth referral) to a wider group of people looking for what you have to offer. A great strategy will build into it this type of customer buying cycle and continue to balance income and expenditure in your favour.
Do this the right way and it will allow you to quickly establish key metrics within your campaign, to identify cost per lead, cost per sale, and lifetime customer value. By knowing your numbers, you are in control of your business and in a position to plan its’ growth faster than your competitors can.
The bottom line…
The faster you know these numbers the easier it becomes. You can now control cash flow, rather than a lack of cash controlling you.
If a bad strategy (or no strategy at all) is starting to kill your business, maybe it’s time to stop struggling and ask for help…after all, nobody ever said you HAD to do this all by yourself did they?
…and REALLY there are NO prizes in this world for being a lonely failure.
We’ve been helping lost and bewildered marketers find and focus on the best strategy for their business for quite a while now. We help entrepreneurs know exactly where they need to focus their time and spend their money. We can even manage their finances if they ask us to. We can identify what’s really happening inside their business.
When you book a Done-For-You Traffic consultation we’ll do this for you too. So hit the link below to see how easy we’ve made it. And let us help you to take your business in the right direction…