Social Marketing, be the Jack of all trades, master of none. Does this describe your business?
Perhaps you feel stretched thin covering all the marketing “bases” while simultaneously hoping one of them will eventually pay in a big way.
Because in this post, I will show you exactly how I simplify my marketing strategy and how you can do the same.
It’s no secret that marketing can be overwhelming for any business big or small when not utilizing the right tools.
Natalie Sisson helps entrepreneurs build a profitable online business from anywhere + the lifestyle they love.
Certainly, if you’re tired of spinning your wheels and need guidance on social media so here are a few influencers I have listed.
Both time and marketing budget are limited. Many small and medium-sized businesses (SMBs) try a do-it-all marketing approach.
Now often, the law of diminishing returns restricts this success.
The Law Of Diminishing Returns
The law of diminishing returns states that increased effort leads to lower returns and, eventually, to negative returns. Consider a retail store. During an initial sale, it sells 50% more inventory.
However, as the store continues its sale every day, the response rate of its customers decreases until there is no increase in sales.
This is the law of diminishing results.
In some cases, the increased effort actually yields negative results, such as when a retailer blasts your email so often that you unsubscribe.
Consider how this law applies to your marketing strategies template.
You may have started your online marketing strategies and gotten excited by the response.
Your existing customers liked your Facebook page.
SOCIAL MARKETING FOR BUSINESS GROWTH
You got some great reviews. Maybe during your first Facebook promotion, you got 20 new purchases.
Imagine if you could duplicate your efforts across all social media platforms.
Could you duplicate those results? Not likely.
It is probable that adding an additional 10 or 20 social media platforms will not yield an extra 20 purchases for each platform.
The majority of the extra platforms may not even yield any extra customers or purchases. That’s the law of diminishing returns at work.
The 80/20 Principle
Let’s look at the Pareto Principle.
Also known as the 80/20 rule, this principle suggests that 80% of your results typically come from 20% of your activities.
Now in the example above, not only does adding excessive social media platforms decrease your results, but it also creates negative results.
You may be asking yourself, Why is that?
That’s because when your social marketing team spends time on underperforming platforms, it is limited from working on the more effective tasks.
You should have a marketing strategies business plan that maintains an active social media presence on most of the major social platforms.
However, many have pulled back significantly from Pinterest. There is one reason for this.
Although Pinterest is popular with some of your buyer personas and can be a game changer for your brand it is not where they go to search for solutions.
In other words, when your buyers start searching for a product or service, they aren’t looking for you.
They are looking for solutions and most likely turn to Google.
When they look for you (or your competitors) they search for other platforms and online mediums.
How To Inspire Top Influencers With Simple Marketing Strategies
New as a small or medium-sized business, you probably have limited resources.
This could be in the form of limited time or a limited marketing budget.
Top Leaders like Mary Fernandez who helping entrepreneurs use human psychology to monetize their passion.
Applying the 80/20 principle and the law of diminishing returns are keys to skyrocketing your marketing success.
Now let’s take a look at three areas SMBs can apply these rules for better marketing results.
1. Online Content
There are millions of blog posts created every day.
That can seem intimidating. How can you compete as a small business? The answer is simple: great content.
Now there are hundreds of blog posts created each day, and many of them remain unread.
Individuals and companies alike write posts for the purpose of pushing content but fail to hit the content creation bullseye.
Instead, consider only writing content that is useful, helpful, and relevant for your readers.
Stephanie Diamond is the Author of Content Marketing Strategies and knows how important content is and understands buyer personas.
You resist the urge to write daily. Focus on two or three pieces a week that really help your buyer personas.
This will give you time to research the relevance of your topics and time to promote your articles on social media.
Focus your posts on the questions and topics that have proven to be the most effective in the past.
Those are the topics your customers are the most interested in (as it relates to your business).
2. Social Media
Imagine how fast your business could grow by posting two to three times a day on Facebook you can Instantly yield a great response rate to your posts.
Posting two to three times each day might actually cause people to follow your page.
Additionally, take a look at which platforms perform for your business.
John Paul Aguiar Help Bloggers, Small Business Owners, and Entrepreneurs with Blog Marketing to reach the right audience.
These are just a few Influencers who have great Marketing Strategies that propel their business through social platforms.
The key is to find the sweet spot for your client base.
Now for the other platforms not performing, consider if it is because you aren’t using them well or because they don’t fill a need for your buyers.
This will help you determine whether training on social media would be helpful or whether you should drop a platform or reduce your brand visibility on it.
3. Ads
It’s no secret that some ads perform better than others.
Unless you have an unlimited marketing budget, applying the 80/20 principle to your advertising will likely yield better results.
Furthermore, by doing so you’ll be able to focus your money on the ads that work best.
Now as an employer, the marketing department spent tens of thousands of dollars each month on Google AdWords.
Sadly, that money only yielded a dozen or fewer quality referrals to the sales team.
That’s because many of the keywords were topics that noncustomers were searching for.
They weren’t targeted, clear, or useful to the company’s buyer personas.
The first project you assisted with is to retarget the ads for keywords specific to your buyer personas.
You also reduced the number of ads.
This resulted in an immediate increase in the quality of leads.
By reviewing which ads and mediums perform the best for your company, you can retarget your ad money appropriately.
Of course, you will still need to spend a portion of your ad budget on testing.
This can include A/B testing, testing ads on social media, or keyword placement testing.
Now testing will help you to gauge where you can refocus much of your 80% budget toward the 20% that is more effective.
Conclusions
Although it may seem counterintuitive to scale back some of your marketing strategies efforts, doing so can increase your results when you focus on the right activities.