Is Digital Marketing Always Worth It?
If you really want to take your business to the next level and have not yet considered making use of digital marketing, then it is definitely something you should consider. Sure, you may not necessarily need to market your company or brand. But think about it, generally speaking, a business falls into one of two categories: Either they need more clients, or they either have enough clients, or too many clients. In either case, a solid online marketing push could improve their bottom line.
A Tale of Two Types of Businesses
It is obvious how a company without enough clients to make ends meet could benefit from digital marketing. A good marketing strategy will always lead to more customers. But how, you may be asking, could a company who’s plate is already full benefit from e-marketing?
To illustrate this point I’ll use a personal anecdote… I know of a contractor who vehemently opposes marketing of any kind beyond word of mouth. His reasoning for this really does make sense for him. Most of his projects take at least a month to complete and he does great work so he is consistently booked out at least a half a year. Most people don’t want to wait that long so in his eyes, he is doing the best he can with just word of mouth. For him, more leads means more time wasted telling people he is booked out into the following year.
The Great Problem of Having Too Many Leads
But here is the thing. He is actually missing out on a great opportunity. You see, he could still stand to market his business and increase his profit. Why? Well a good marketing campaign will net him a good number of solid leads. Even if he can’t convert those leads into customers himself since he is booked out so far, he could still sell those leads to another contractor who isn’t booked out six months or a year. Doing a basement finish or bathroom remodel isn’t cheap. He could sell leads for a good chunk of change.
Well, I’m not a general contractor you may be saying. It doesn’t matter. This strategy could work for any business. Quality leads are not easy to get and there will always be someone, somewhere, who will pay for your leads should you not be able to use them yourself. Sure a lead for a contractor doing jobs worth tens of thousands of dollars is more valuable for than a lead for a hairdresser in a salon, but any type of lead still has value.
What’s a Business Owner to do?
Maybe a digital marketing campaign does not make sense for the hairdresser in the above example. They may already have enough business and the leads not valuable enough to sell. It all depends on the individual case, but in most cases we believe digital marketing is worth it.
Hopefully this post has illustrated to you the value of marketing. While lead generation is just one part of what internet marketing is all about, it is a powerful part that should be well understood. While getting leads is one part of the story, converting leads is a whole other story. In fact maybe that will be the topic of one of our next few posts. Until next time, happy marketing!