How To Avoid The Most Common Mistake In Online Marketing
There are two things that make or break any business and they are:
- Attracting qualified prospects, and…
- Acquiring new customers.
If your business has a predictable source of high quality traffic and a system to convert the traffic into leads and paying customers, then your business can dominate the market and join the ranks of the Rainmakers.
The reason there are very few Rainmakers and lots and lots of Grinders is because almost all business owners and executives get the sequence of these two things wrong.
Let’s call it putting the cart before the horse.
See, almost everyone starts from the wrong end which is traffic. There is always a hottest, newest, coolest thing out there, whether it’s SEO, Social Media, Mobile Ads, Video Ads, Pay Per Click, Facebook Ads…
There is always a new source of traffic and it can get overwhelming for a business owner.
The problem is while everyone is thinking about who they should hire to do their SEO or PPC or Social Media or Facebook Ads, they don’t have a PROCESS in place, they don’t have a systematic method to consistently convert traffic into leads and leads into customers and do so in a predictable and cost effective manner.
So In fact, they generate lot’s of interest but they don’t close any sales or generate enough revenue to make the campaigns profitable. And without being able to measure customer acquisition cost they don’t even know which campaigns (if any) are working.
It’s like taking a bucket full of holes and trying to figure out how much water it takes to fill the bucket…
Exactly how much water does it take to fill that leaky bucket?
Well, it’s infinite, right?
You cannot measure it accurately. Think about your ad spend the same way.
So, before going out and driving more traffic to your web site, you need to have a system in place to convert that traffic into paying customers.
You also need to be able to measure the results accurately, otherwise it’s like throwing darts blindfolded so you can’t even tell if you’ve won or not won – while you’re trying to fill that leaky bucket.
Having a predictable, systematic way to acquire new customers every month starts with being able to measure cost per lead AND customer acquisition cost for all of your campaigns and marketing activities.
You also need to have a conversion system and a marketing and sales funnel designed to capture, convert and close prospects.
Then you can avoid becoming part of the large majority of advertisers who don’t know which campaigns lose money and which ones are the winners and instead join the rainmakers who know how to make the numbers work in their favor.
Avoid this mistake and you’ll be off to a better start than the large majority of your competitors.
