The Real Challenges Of Online Marketing

You’ve got a great idea for a new product or brand and you’re all set to go with your inventory,  you even have a great looking website and social media pages so you’re ready to bring in the millions!  But for some reason you’re getting so many visits to your sites but no conversions.  It’s panic time.  We’re investing too much money online with no ROI.  What now? 

The reality is, it’s difficult to introduce new brands to the market in the 21^st century.  Well established brands in clothing, beauty, and dietary markets have huge marketing budgets and a full staff of experts that make sure they stay at the top of all of the social media platforms daily. 

…So how do you compete? 

How do you continue to invest in your brand without immediate return on investment?  The answer isn’t so simple and not what you’re likely to want to hear, but the future is bright, believe me! 

Here are my recommendations for a realistic and healthy start to your brand without losing your life savings:

1. Set realistic goals for your campaigns both offline and online.

You have a great new make-up product line that stands out from the rest, but you’re not going to get the traction that Maybeline has.  That’s ok!  Building a brand takes years of hard work, great customer service and on par product quality.   Make sure your goals for customer acquisition are realistic, but once they are set, have a strategic online marketing plan that will hit the mark you’ve set.  For example, you may want to increase your store visits by 10% the first week and increase your social media following by 5%.  Those are realistic targets that don’t necessarily require a large budget.

2. Deliver what you promised!

Your product may be revolutionary, but if your service is lacking, you will lose clients quickly!  Make sure you respond quickly and efficiently to all of your customer needs.  Always make good on your guarantees and never leave a client feeling unsatisfied.  One unhappy customer can ruin your online reputation very quickly, regardless of how much time, money and effort you’ve spent building it.

3. Determine your key demographic and target market and stick to it!

It’s tempting to try to expand your brand too quickly.  There are so many ways that companies are targeting buyers online through effective ads, but you must know who your true market is and spend your marketing dollars speaking to those potential buyers only.  Your brand has a vision, a meaning, and a life of its own.  Always remain consistent with that original idea and design.  Choose your media outlets carefully and your marketing material wisely, always making sure to remain consistent.  Do not waste your marketing dollars on trying to expand your brand to the general population!  Test smaller target markets until you find what really works for you and stick to it!

4. Focus on brand recognition and loyalty.

Once you’ve started making your online sales, focus on customer retention!  Online shoppers are being tugged at left and right and everyone is competing for the sale.  You have a great product and you have a satisfied customer, now don’t let them go!  Make sure you continue engaging with that customer through interesting and relevant social media posts and emails.    Make sure you understand the lifetime value of your clients and include that in your ROI models.

5. Stay the course!  It’s a long ride to the top!

Most importantly, don’t give up!  There will be a lot of trial and error and spending before you can start to see the fruits of your labor.  There is no immediate jackpot to online marketing spending.  You’ll see your brand grow and blossom with time, as long as you remain focused and consistent.  Once you’ve built your base, the sky is the limit!