13 Myths about Internet Marketing
One chases social media supporters without a lead generation process. The other chases website traffic without knowing knowing how much website traffic is needed to reach revenue goals. Still another purchases pay per click advertisements without understanding the long term costs. There is a difference between purposeful action and spinning wheels. The goal of this blog post is to help you identify the 13 most common mistakes with internet marketing stop spinning wheels on tactics without guidance.
13 Myths of Internet Marketing
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One chases social media supporters without a lead generation process. The other chases website traffic without knowing how much website traffic is needed to reach revenue goals. One purchases pay per click advertisements without understanding the long term costs. There is a difference between purposeful action and spinning wheels. The goal of this blog post is to help you identify the 13 most common mistakes with internet marketing stop spinning wheels on tactics without guidance.
13 Myths of Internet Marketing
Myth 13: A successful business doesn't really need internet marketing.
Outbound marketing methods (i.e. Cold calls, radio, trade show) are used successfully by businesses to attract new potential customers. It raises the question: “Can a successful business they benefit from internet marketing?” The cost to acquire a new customer determines if savings are achieved through an integrated online marketing.
With traditional forms of marketing, the cost is high, and the number of customers acquired can be tricky to calculate. Without proper attribution of customers, businesses have to estimate what amount of customers were as a result of their marketing investment.
If the cost of customer acquisition is high, then it makes monetary sense to reduce the cost of acquiring new customers. According to The 2012 State of Inbound Marketing Report, internet marketing leads save businesses on average 40% per lead.
Internet marketing amplifies the strengths of the business. Success online comes easier to companies that already have a positive reputation offline. Successful businesses are able to succeed online too.
Myth #12: If I build a website, my ideal customers will find it on their own.
8 years ago, Pew Internet reported that 88% of Americans used the internet on a daily basis. With such massive adoption by the US population, you would think by virtue of creating a website, it would automatically be found, read, used by the ideal customer.
If you build a website, your customers may not come to your website. This is due because they don't know about it. The way people find out about websites is through a number of ways including search engines, advertisements, friends, or recommendations.
Without a deliberate effort to improve the visibility of the website online, ideal customers will not stumble upon it. For millennials, a business without a website might as well not exist to them. It can't be seen or read. If it is not seen, it's not considered for the problem/want the customer wishes to satisfy through a product or service.
Myth #11: I only need _____ (service) to be successful online.
Some say, you just need SEO or social media, or pay-per click advertisements to be successful online. These are all examples of online visibility: how to help potential customers find your business online.
The problem with adopting only one visibility tactic is that it is incomplete. A complete internet marketing plan takes into consideration the series of actions that are needed to help buyers express interest, build purchase confidence, purchase decision assistance, or make a purchase.
The lack of a system decreases the ability to measurable return on investment from internet marketing. No technique is complete, all-encompassing by itself. They work well with other techniques.
Online marketing is an arena where change occurs daily. You don't want to invest all in one bucket because it’s vulnerable to more risk.
Myth #10: Websites are like infomercial products, you just create it and forget it.
Some information on the website is like an ever-green, it's true for your business for months or years. Other parts of the website content are seasonal. What brings people to your website is the services you provide as well as the relevance of the message.
Other parts of the website are not ever-green. We live in an information age, where current information is prioritized over older information. A website that isn't current isn't as credible as a website that is website. Whether online or offline, credibility is important.
A website that is actively updated with new information will have greater appeal to search engines. If a website rises in search engine rank, then it is more likely to be seen by potential customers. During the research phase of the consumer buying cycle, buyers use the internet to find solutions or providers for various needs or wants.
Myth 9: Social media marketing fits the skillset of a college intern.
When businesses begin to dabble with social media, they are tempted to hire a family member, friend of a friend, or even a college intern instead of a true internet marketer to initiate the social media effort. Social media is easy to do.
A college intern may be proficient in social media, but they may not have the full scope of knowledge needed for a successful internet marketing effort. The aspect of online lead generation eludes many professional marketers, let alone a college intern.
In short, you get what you pay for.
Myth # 8: Social networks are a great way to distribute daily promotional messages.
The temptation to post promotional messages on social networks comes naturally to marketers and sales representatives entering the world of social networks for business. Internet users are on the lookout for things that appear like spam, unsolicited commercial messages. If it is done to overtly, it repels people instead of attracting them. Promotional messages have their time and place within an online marketing effort, but the recipients/readers shouldn't feel they're being sold to all the time.
Indirect promotion is the best way to attract potential customers. Follow the 80/20 rule, 80% share educational content that is relevant to your services or products, 20% share information that pertains to your customers. Over time, the customer can see you as a resource for help on a specific problem or area of interest.
Myth # 7: All I need is PPC to obtain new customers.
PPC can be a way to get targeted potential customers. By creating advertisements around the specific keywords that describe your business and its services it can bring to your website people who need your services. It definitely helps improve awareness and consideration in the mind of the buyer.
However, once they arrive to your website. They may not convert into a customer by virtue of finding your website. A website really is more than a static educational brochure. A website that caters to the different stages of the buying cycle will provide relevance and value to the potential customer. .
To benefit from pay-per-click advertisements, website visitors should find relevant ways to stay in touch or express interest with a company, this is done through content offers, webinars, guides, tutorials, blogs, social networks, and more.
The drawback is that it can be costly in the long-run. Google is giving more importance to social networks (as seen by their latest revisions); what people say about your online content influences page rank.
Myth # 6 Blogs are only used for sharing personal interests, rather than relevant business communication.
Businesses can create blogs for many relevant reasons: reputation, rapport, revenue. To enhance and build upon their reputation, a business can write about things that they do to protect and uphold the values that characterize their reputation. If a business cares about its local community, it would be very appropriate to share how they contribute on a regular basis.
Business blogs can help businesses build rapport with potential customers by humanizing the employees and companies that work for the business. When a business is likeable, a potential customer would want to do business with them.
Blogs attract the potential customer to the website, where they can learn more. Hubspot research shows that there is a direct correlation between blog post quantity and website traffic. Website traffic influences the number of inbound leads.
Myth # 5: Once I reach X page rank on a search engine, I'll be able to have the necessary amount of website traffic.
There is a direct relationship between website page rank and website traffic. Chasing traffic for traffic sake isn't the start and end of internet marketing. Each business has a vital amount of website traffic it needs to maximize its conversion ratios at various points within the digital sales funnel.
Without a firm grasp of what this number is you could be content with a low level of traffic not knowing that you won't reach your revenue goals.
On the other end of the spectrum, high levels of website traffic without any system or tools to convert website visitors into potential customers is a waste in opportunity.
Myth #4: All I need is _____ of Facebook fans, and I will be successful online.
The social media hype says (1) get on social networks and (2) build the largest online community possible. Simply creating a social media presence does not guarantee success. A specific number of Facebook fans or Twitter followers does not guarantee success either.
There is a whole new “industry” of fake fans, fake followers, fake views to meet the misguided focus on reaching specific numbers on various social networks. They’re designed to be cheap and fast alternative to earning the community naturally.
Social media marketing for business is much more than amassing a fan base. It’s about translating offline principles such as trust, likeability, and credibility online to obtain new potential customers. When social media marketing is used within the scope of inbound marketing, it can take its place within an overall internet marketing plan.
Myth # 3: The return on investment for internet marketing cannot be accurately attributed.
Three years ago in the world of social media marketing, there was much confusion about how social media monetization. It was the one big question. The ROI of social media has become much clearer, and businesses that adopt a proper social media campaign will see a positive return on investment.
Social media monetization begins with understanding the role social media plays within the monetization process. Social media is where you could meet potential customers or potential prospects. You engage them with conversations. You make yourself available to be a helpful resource. The main objective of social media is to guide potential customers to the company website, where they can learn more.
Social media marketing can pay off in the form of new customers for a business if it is used in the right way. The ROI formula of (Gross Profit – Marketing Investment) / (Marketing Investment) applies. Within a proper internet marketing plan, the result will be positive. To read more about social media ROI, I recommend you read: Social Media ROI by Oliver Blanchard.
Myth #2: If I have a contact us form on my website, this will be enough for website visitors to express interest.
The contact us page flaw is that it’s a catch-all page. It is not really designed to appeal to buyers at different stages in the buying cycle. When a potential customer finds the contact us page desirable they can be at any stage: research, consideration, or sales ready.
The internet allows you to personalize and target your communicate to a specific group of buyers. This means your website pages can create a more meaningful impact on the potential buyer through relevance and appropriateness for buying decision process.
Hubspot.com conducted research of over 7,000 businesses. The evaluation of the data revealed a direct relationship between landing pages and the number of leads. With specific landing pages, it is possible to have better qualified inbound leads arrive via the website. With more qualified sales leads, there is an opportunity to acquire a new customer.
Myth #1: My business cannot reach a portion of its revenue goal for 2013 with internet marketing.
Many efforts do not pay off because of (1) lack of metrics and (2) lack of marketing tactics. Metrics are important because they reveal whether you’re on track, below or above your goal. If you don’t know the ideal metric for your goal, then you’re vulnerable to perform blindly.
The second reason for failure is incomplete tactics. If online marketing were a house and it were built haphazardly, you’d have all the tools for the roof but shoddy work on the walls and no foundation. It wouldn’t make for a safe, habitable home. If online marketing isn’t grown in a deliberate fashion, it is vulnerable to poor performance.
Reaching a specific revenue goal through internet marketing requires knowledge of specific metrics that determine success and the series of activities that need to take place to monetize the effort. With the right strategy and right implementation it is definitely possible to reach a revenue goal. To read firsthand the benefits of inbound marketing, please read some case studies.