If you want to me successful online you need a road map. I feel the #1 reason few people are successful truly with their SEO consulting campaigns is that their is too much”shoot from the him” and over following the latest fad. For example everyone wants to know if you are on Twitter? Just ask yourself how much time have you spent on Twitter in the last month or week.?
Did you know Twitter now has .001% market share in all online searches. That is significant for an up and coming website which relates to 4.2 million searchers and 39.4 million Result Pages. That still pails in comparison to Google which is 60% of all search volume. Which did you spend more time with in the last week optimizing for Google or Twitter?
This is just one example of how without a road map and a greater understanding to what drives your online business it is easy to not reach your revenue potential.
5 Questions to Determine Your Online Marketing Strategy
- Are their a certain set of customers that are more profitable?
- Do you have the ability to grow sales for your most profitable customer base?
- Why would a customer chose your company over a competitor?
- Which set of customers are your least profitable?
- Are your least profitable customers worth targeting?
You want to use these questions to fuel a discussion to determine how your company is going to focus its time and resources.
An example of the results of asking these questions from an online supplement company client. We analyzed that the most profitable products that they sell are not the most popular online. That the most popular products are sold more competitively and thus the prices were lower which means profit margins were lower. By focusing more on the more profitable products the initial web traffic decreased and so did total sales volume. For most businesses they would have overreacted to this news and changed strategies. What really happened though the company produced less total revenue, the company had a higher total net profit. Not just a higher percentage net profit; an actual higher total net income then they did the quarter before. One other key stat is that with less orders to make more money the shipping expenses also decreased which increased profit margins.