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Keep Your Cost Per Customer Low

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StrategyDriven Managing Your Business Article |Cost per Customer|Keep Your Cost Per Customer LowAcquisition cost is one of the preferred metrics on Google Ads to enhance the value of your ads. In essence, the acquisition cost refers to how much you are likely to spend on a prospect lead to turn them into a customer. In the world of Google AdWords, the metric is used to automatically increase bids in AdWords auctions to maximize chances when a user is likely to convert.

If you are familiar with this definition of the acquisition cost, you might assume that customer costs refer to the thing. In reality, customers costs are all the costs involved in the acquisition and retention of your customers. The overall customer management process could end up costing you more than you get paid for the product or service. Here are tips to ensure you can keep your cost per customer as low as possible.

Improve your SEM campaigns

As mentioned, Google Ads has strategic acquisition costs bidding. This approach can be successful if you set the most profitable cost. Paid marketing doesn’t have to break the bank. On the contrary, Google Ads lets you choose and manage your budget. But if you’re going to secure high rankings on the SERPs, you want to understand how to improve your ads for best visibility. High bids can win the auction, but other strategies can keep your costs low and your results high. Adding relevant ad extensions such as your phone number can increase the conversion rate. Additionally,m you can add business information to appear only for local searches.

Keep shipping costs profitable

Ecommerce shops have a tough task keeping their costs as appealing as possible. As a result, shipping costs need to be kept intentionally low. However, it can be tricky to manage all shipping-related costs effectively, including return costs, return checks, preparation for international shipping, etc. it might not physically cost more to transport a parcel from A to B, but your team will be working around to clock to manage the logistics strategy. So, why not give yourself some slack and turn to simple order fulfillment services to keep shipping processes cost-effective?

Let a bot help them

Customers frequently need help and guidance. Companies often feel overwhelmed by the volume of calls or emails reporting issues that are easy to solve. It is a time-demanding process that wastes the workforce. Simple queries could be easily managed by an AI bot. Whether a customer wants help finding the right product or needs basic troubleshooting, a bot can guide them effectively through the steps. More complex queries can also be filtered and passed on to the team.

Exceed their expectations

Customers have expectations on the quality of your services or product. The quickest and easiest way to keep customer costs low is simple to deliver precisely what they expect. Exceeding expectations is a popular marketing buzz phrase, but in reality, if you have to work extra to deliver more value than people have paid for, you are ultimately running your business to the ground. Meet expectations at all times, including in terms of communication. Honesty and authenticity in your communication with customers can remove increased costs linked to complaints.

Five Low-Budget Marketing Channels for Startups

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StrategyDriven Online Marketing and Website Development Article |Low-Budgeting Marketing Channels|Five Low-Budget Marketing Channels for StartupsStartups face several challenges, especially during the first 5 years of the launch and none of the challenges is as precarious as struggling to remain cash positive. Operating under tight budgets makes it almost impossible for startup owners to set aside a marketing budget.

Often, the marketing gets the axe because startups are caught in a dire financial balancing act. Within the tight operating budget, they have to pay rent and employees, purchase raw materials and take care of the huge overhead costs. But, the absence of proper advertising and marketing strategy in place results in about 42% of startup businesses failing within the first 4 years.

In this post, you will learn that there’s no need to spend a fortune to effectively market your startup. You just have to choose the right marketing channels for your startup to get maximum output. Below are 5 affordable marketing strategies that will bring unbelievable consistency and visibility to your startup.

1. SMS Marketing

Initially, startups avoid SMS marketing thinking that it would annoy customers. But, studies suggest that SMS messages have an open rate of 98% and an average of 30% act on the massage. This high response rate should take care of any concern that you had regarding ROI.

Moreover, you can send messages to 1,000 people at the same time and at a fraction of the cost that other marketing channels would cost you like, TV, radio or even print.

Best practices to achieve success with SMS marketing:

  • Stick to 160 characters – In the world of SMS marketing, 160 is an important number. If your message goes over 160 characters, mobile networks will slice your message right down to the middle. Some networks even refuse to deliver messages that go over the character limit.
  • Timing is everything – Choosing the right time to send an SMS can make all the difference. For instance, restaurants send messages regarding offers two or three times a day at a time when people would be thinking about what to eat. So, you have to time your messages to reach your audience when they are making a buying decision.
  • Place a call-to-action (CTA) – CTA is a part of all marketing strategy and SMS marketing is no different. Here, your CTA should be in the form of phone number or a web address (URL).

2. Social Media Marketing

Statistics show that over 2.4 billion people use social media. So, it is important that this channel is incorporated into your startup’s marketing plan. As the presence of your business grows on social networking sites, more people will come to know of it and recognize your brand name. Moreover, Facebook, Pinterest, Instagram, Snapchat, LinkedIn, Twitter, and other social media networks, allow businesses to pay for exposure and traffic.

For example, Facebook Ads lets business owners create ads that appear in the news feeds of users or in the Facebook website’s right column.

Best practices to achieve success with social media marketing:

  • Create an account – Sign up on your preferred social media platform/s by creating an account, and complete your social media pages and profiles with company information, images and logo.
  • Attention-grabbing posts – Regularly post useful and engaging content to keep your audience hooked. The posts can be related to your products/services or it can be about the latest happenings around the world. A healthy mix is desired since nobody in the world of social media likes a bragger.
  • Join groups – Join niche-related groups to organically reach more people and choose the right target audience.
  • Stay connected – Be responsive and make sure to reply to every comment and message.

3. Email Marketing

Statistics show that 99% of consumers check emails every day and 73% of millennials prefer business communications, via emails. This makes email marketing one of the most low-budget and effective marketing strategies that claim a high ROI. As long as you have an organically curated email list and a steady, yet non-invasive stream of email blasts, you will see a significant return.

Best practices to achieve success with email marketing:

  • Attractive subject lines – The email open rates increase significantly when catchy, engaging and personalized subject lines are used.
  • Readable, well-formatted email body – The email should be written in simple, easy-to-read language and the content must be broken into small paragraphs with bullets and subheads. You need to focus the content on the benefits of your products/services and how it helps consumers.
  • Keep email subscribers engaged – Share 2 or 3 useful and valuable emails per week to keep your email subscribers engaged. But, avoid sending too many emails.

4. Content Marketing

Content marketing requires little investment, but gives incredible returns. This form of marketing has myriad approaches and you shouldn’t limit yourself. For a start, you can create a blog section in your company website to share with the world whatever your startup company is up to. You can share product/service details, information about new launches and so on. Use the blog section as to both entertain and educate your audience. Then, graduate to other forms of content like, videos, images, infographics and more.

Best practices to achieve success with content marketing:

  • Craft original blogs or articles – Do not resort to plagiarism or your website will be penalized by Google. Invest in the creation of interesting, informative and unique articles and blogs.
  • Create engaging videos – You can substitute your blogs or articles with images and even videos. Alternatively, you can just create videos to share company news. The videos can be posted on your website, social media accounts, YouTube and so on.
  • Include shareable links – Regardless of what content you are posting, make sure that they all have shareable links. You would want your audience to share the content so that your brand awareness spreads far and wide.

5. Search Engine Marketing

Search engine marketing or SEM is known to fetch instant results. Advertise your startup business on search engines and get more exposure, as well as, sales. Paid search allows businesses to get laser-targeted traffic from Google and other popular search engines. Bing Ads and Google Ads are two of the most popular paid search networks, and they both feature keyword targeting with a CPC (cost-per-click) model. You can create custom ads using either of these platforms and your ads will appear above the organic search results in the SERPs.

This is how ads appear on Google:

Best practices to achieve success with SEM:

  • Keyword research – Paid search is a highly-targeted form of marketing. This is why you need to invest in keyword research. Only the right keywords will make your ad visible to the right audience.
  • Enticing landing page – When a user clicks on your ad, he/she will be directed toward a landing page. If this page isn’t interesting enough or doesn’t offer much information, the user will bounce right off the landing page and go to a competitor website. So, create an alluring landing page and have clear-cut calls-to-action.
  • Set a bid cap – You do not want Google or Bing overcharging you. Since running ads are based on the CPC model, you need to set a budget limit and a bid cap. Once this limit is reached, the search engine will notify you.

The takeaway here?

When you find yourself struggling with your startup’s budget, do not resort to cutting marketing out of the equation. Find innovative ways to build brand recognition that don’t need a lot of upfront investment. Once your brand name is established and you have a steady stream of revenue, you will have the freedom to invest in more expensive strategies.

Keyword Research for Small Business

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StrategyDriven Online Marketing and Website Development Article |Keyword Research|Keyword Research for Small BusinessAs digital is taking over the lives of pretty much everyone, SEO and SEM are becoming a more competitive and intricate industry. As everyone is competing for the same ‘prize’ with many different approaches to going about winning. One of the biggest advantages to SEO and SEM is that the size of a business doesn’t determine how well it ranks in organic rankings. This is decided by its relevance, content and the trust Google has that the site provides a near perfect answer for the search term.

For those building the digital face of their business having decided to take on the challenge alone, here is some information from a SEO marketing agency that should help make this feel a lot easier.

What is a keyword research and why should you do it?

A keyword research is the term used for undertaking research in finding out what words and phrases people use most often when searching in Google and looking for specific items/services/pages etc. Understanding these keywords will give those trying to rank higher and reach more customers a better idea of which words are being used by their target audience, how often these words are being used and how hard it will be to rank highly for these words. Combining this knowledge with a solid strategy will enable you to compete for those selected keywords in the organic search results.

What do I need to run a keyword research?

Apart from time and an enthusiastic approach to hard work, you will need a tool that will help provide you with the details to understand each keyword. Moz, one of the most trusted sources in this industry, has their own tool called Keyword Explorer that will enable you to get a good initial idea of you websites keyword needs. There are plenty of other tools out there that with paid subscriptions can provide you with detail that you could spend an eternity looking at.

Where do I start?

All keyword research projects begin with a single word/idea/experience. If you have worked in your industry for a long time and frequently answer the same questions, look for a word that continually pops-up in these conversations. From this individual word you can begin to evolve your search around it finding similar combinations and variations of this search word. Do this for however many individual key terms you come across until you feel you have a good “seed” list. From here you will use your selected tool to find out how popular a term is, the perceived difficulty to rank for this and other similar keywords that might provide better results.

1. Run a keyword research for your website

By running a keyword research for you site you will find an idea of your strengths and weaknesses in terms of rankings. Be sure to know that your website meets the needs of potential customers. Furthermore, think about splitting the keyword you find between where a customer is in their journey, are they just finding out about a product, are they doing further research, or are they now looking specifically for you or a provider of this product. Use tools similar to keyword explorer, such as SEMrush, to understand their volume, your positioning etc.

2. Identify your competitors

Who your competitors are online may differ greatly to those offline. You are suddenly competing on a larger scale with business across the county, region and country. You can find these competitors by simply searching for the keyword terms you are ranking for and those you want to be ranking for. Your competitors are all those in the top 20. To understand more than simply keywords about a competitor it is useful to look at the ‘strength’ of their domain. This agency believes Trust Flow is the best metric and provides a better understanding of a website than DA can provide. If you need to know more, this article explaining Trust Flow is fairly thorough.

Beyond these other measures, of which there are a few, you’ll need to decide whether you have the capacity or budget to invest in going after these top ranking spots or will be happy with appearing between 10-20

3. Compare competitors to find keyword gaps

Thankfully there are tools for this task, as there seems to be for everything, that allows you to find keywords that your competitors aren’t ranking for that could be fruitful for you. After these tools provide a list there is still a fair bit of analysis to be done by you.

4. Decide on the keywords you want to focus on

Taking your potentially long list of good potential keywords, you now need to cut it down to those you will be able to focus on. You need to understand if you are able to rank for each individual keyword through website strength, content building and backlinks.

As mentioned above, cutting these groups into categories based on the users journey will help you cut down your list. Once this list is in place, create a content strategy that covers these keywords and their topics completely. Once again, Moz has a very good guide on keyword clustering that should help.

5. Start ranking for the chosen keywords

It sounds much simpler than it really is, but if the right steps have been taken you’ll begin to see vast improvements in your rankings, and even if the improvements are small you know you have begun to do something right and that you are able to start positive change in your digital business.