What has internet marketing taught me in last 5 years.
Whew, it has been 5 years and right now I am looking back at the lessons Internet marketing taught me over the years. Of course I am not discussing marketing tactics and techniques here otherwise this blog post will probably turn in a huge book.
First lesson :- Strike and Grab the Opportunity fast whenever it presents
This is the first and most important lesson that you’ll learn while doing Internet Marketing.
It all comes down to speed of implementation. If you are slow, time will move on and chances of your profiting from the opportunity has left you by.
If you compare internet time line to offline line real world time line, then time is moving at least 4 times faster on internet (that’s due to advancement in Internet technologies). The cause and effect can be seen almost immediately of internet technology and time.
People who sit on the side line and wait and check are often late and broke.
That’s why I said speed of implementation is important.
Second Lesson : Ideas are dime a dozen, Action is rarer.
Too many people have way too many ideas… but people who take action are rarer. And thats true in harshest of terms for people on internet. With the access to ever changing technologies, people can exchange ideas in a blink. But People who take action on those ideas are rare and those who do, often succeeds.
Again complimented with first lesson of speed of implementation, this will help you tremendously.
Third lesson : Sell whenever the damn you can
Someone told me, “Every attempt at communication is an attempt of persuasion. Either you are persuading someone or being persuaded by someone”. When I am writing as “Sell whenever the damn you can”, it sounds like a sleazy salesman or slick opportunist.
But that’s not my intent at all.
In internet, the method of communication changes a LOT and if you have a business, you have to learn, adapt and implement different communication methods. If you are selling online you have to utilize every opportunity to communicate efficiently otherwise you’ll not sell at all.
Fourth Lesson : Learn to communicate with written word.
Now as you can guess, learning to write is going to be one of the most important way to communicate online. If you can’t write, you can’t communicate. Oh yes there are videos, audios too but let me say it again, written communication is a HUGE part of Online communities. You just cannot ignore it.
Fifth Lesson : It only takes one silly mistake to get crushed in the time
Doing business ethically is important. With internet and the ease of communication methods, you can be easily crushed. If you are a good businessman, then people won’t be able to slander you even with internet. Why ? because your evangelists(customers) will help you fight against them.
You are nothing but a speck of dirt in the time line and trust me, it’s going to be important to do your business ethically and grow and succeed.
There are many other things I can write here but I think the long laundry list is unnecessary. 5 lessons will suffice for now.
Varun Pratap
Desire. Commit. Succeed.
Own Your Business, Don’t get Owned By it.
Yesterday evening, I spent 3 hrs in meeting with one of the sharpest marketing mind in New Delhi. We discussed content, marketing strategies and many others things that we are going to cover in my upcoming seminar on building business.
One of my foundational base is “Scientific advertising”. In this, you have to understand the nature of your product, your company, your customer base and so much more so that you can create a marketing frenzy. It goes beyond what you might think about marketing or selling.
And because I have worked with pretty darn successful companies in New Delhi. I realized they have no concept of marketing and selling. Often their marketers are doing the job of salesman (and doing a piss poor job of it) and their marketing is literally man-handled by people who should have nothing to do with marketing at all.
For Example :– One of the Marketer for this publishing company was more worried about selling the advertisement page for the magazine rather than creating a strategy which results in automatically selling those pages, building a database or may be more effective brand awareness.
And these marketers have gall to brag about how successful their last campaign was. When you ask them what are they going to do afterwards, their silence give you the answer. Sometimes I wonder what exactly they think their job as marketer is?
Ah, I digress.
The problem with institutional advertising is, it’s too time consuming, too resource hogging, too pricey and almost always gets results which cannot be substantiated. This is where most business owners get owned and swallowed by their own business.
And this is exactly where I am going to show how anyone can handle their own marketing with just a shift in mindset. If your base is “scientific advertising”, then you’ll see results of your campaign and be able to realize and make informed decisions whether you should scrap this campaign or not before it starts bleeding your account dry.
And that’s how exactly you should be doing your business.
For example :– I helped a marketer with a full page advertisement which was going on 4 national monthly magazines with re-creating the offer, changing image position and improving the overall impact of the advertisement. The results was staggering. He could not believe how much response his ad got. His office was swamped with calls and people tried to get their hands on the offer.
The best part was he knew when to scrap this campaign as it started losing steam and instantly changed the offer with new advertisement improving his results.
Now this is what I call smart marketing. I did help create the advertisement, but it’s his job to make sure he runs it and follows it afterwards. Most MBA grads spend spray shinning their diploma/degree rather than understand how to actually successful market and campaign their products.
Things too costly – II
There are some things we know of which might possibly be sold to half the homes in the country. A Dakin-fluid germicide, for instance. But the consumption would be very small. A small bottle might last for years.
Customers might cost $1.50 each. And the revenue per customer might not in ten years repay the cost of getting. Mail order sales on single articles, however popular, rarely cost less that $42.50 each. It is reasonable to suppose that sales made through dealers on like articles will cost approximately as much. Those facts must be considered on any one-sale article. Possibly one user will win others. But traced returns as in mail order advertising would prohibit much advertising which is now being done.
Costly mistakes are made by blindly following some ill-conceived idea. An article, for instance, may have many uses, one of which is to prevent disease. Prevention is not a popular subject, however much it should be. People will do much to cure trouble, but people in general will do little to prevent it. This has been proved my many disappointments.
One may spend much money in arguing prevention when the same money spent on another claim would bring many times the sales. A heading which asserts one claim may bring ten times the results of a heading which asserted another. An advertiser may go far astray unless he finds out.
A tooth paste may tend to prevent decay. It may also beautify teeth. Tests will probably find that the latter appeal is many times as strong as the former. The most successful tooth paste advertiser never features tooth troubles in his headlines. Tests have proved them unappealing. Other advertisers in this line center on those troubles. That is often because results are not known and compared.
A soap may tend to cure eczema. It may at the same time improve complexion. The eczema claim may appeal to one in a hundred while the beauty claims would appeal to nearly all. To even mention the eczema claims might destroy the beauty claims.
A man has a relief for asthma. It has done so much for him he considers it a great advertising possibility. We have no statistics on this subject. We do not know the percentage of people who suffer from asthma. A canvass might show it to be one in a hundred.
If so, he would need to cover a hundred useless readers to reach one he wants. His cost of result might be twenty times as high as on another article which appeals to one in five. That excessive cost would probably mean disaster. For reasons like these every new advertiser should seek for wise advice. No one with the interests of advertising at heart will advise any dubious venture.
Some claims not popular enough to feature in the main are still popular enough to consider. They influence a certain number of people – say one-fourth of your possible customers. Such claims may be featured to advantage in a certain percentage of headlines. It should probably be included in every advertisement. But those are not things to guess at. They should be decided by actual knowledge, usually by traced returns.
This chapter, like every chapter, points out a very important reason for knowing your results. Scientific advertising is impossible without that. So is safe advertising. So is maximum profit. Groping in the dark in this field has probably cost enough money to pay the national debt. That is what has filled the advertising graveyards. That is what has discouraged thousands who could profit in this field. And the dawn of knowledge is what is bringing a new day in the advertising world.
Things Too Costly
Many things are possible in advertising which are too costly to attempt. That is another reason why every project and method should be weighed and determined by a known scale of cost and result.
Changing peoples habits is very expensive. A project which involves that must be seriously considered. To sell shaving soap to the peasants of Russia one would first need to change their beard wearing habits. The cost would be excessive. Yet countless advertisers try to do things almost as impossible. Just because questions are not ably considered, and results are traced but unknown.
For instance, the advertiser of a dentifrice may spend much space and money to educate people to brush their teeth. Tests which we know of have indicated that the cost of such converts may run from $20 to $25 each. Not only because of the difficulty, but because much of the advertising goes to people already converted.
Such a cost, of course, is unthinkable. One might not in a lifetime get it back in sales. The maker who learned these facts by tests make no attempt to educate people to the tooth brush habit. What cannot be done on a large scale profitably can not be done on a small scale. So not one line in any ad is devoted to this object.
This maker, who is constantly guided in everything by keying every ad, has made remarkable success.
Another dentifrice maker spends much money to make converts to the tooth brush. The object is commendable, but altruistic. The new business he creates is shared by his rivals. He is wondering why his sales increase is in no way commensurate with his expenditure.
An advertiser at one time spent much money to educate people to the use of oatmeal. The results were too small to discover. All people know of oatmeal. As a food for children it has age-old fame. Doctors have advised it for many generations. People who don’t serve oatmeal are therefore difficult to start. Perhaps their objections are insurmountable. Anyway, the cost proved to be beyond all possible return.
There are many advertisers who know facts like these and concede them. They would not think of devoting a whole campaign to any such impossible object. Yet they devote a share of their space to that object. That is only the same folly on a smaller scale. It is not good business.
No one orange grower or raisin grower could attempt to increase the consumption of those fruits. The cost might be a thousand times his share of the returns. But thousands of growers combined have done it on those and many other lines. There lies one of the great possibilities of advertising development.
The general consumption of scores of foods can be profitably increased. But it must be done on wide co-operation.
No advertiser could afford to educate people on vitamins or germicides. Such things are done by authorities, through countless columns of unpaid-for space. But great successes have been made by going to people already educated and satisfying their created wants.
It is a very shrewd thing to watch the development of a popular trend, the creation of new desires. Then at the right time offer to satisfy those desires. That was done on yeast’s, for instance, and on numerous antiseptics.
It can every year be done on new things which some popular fashion or widespread influence is brought into vogue. But it is a very different thing to create that fashion, taste or influence for all in your field to share.
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