Should I Be Using Short Term Strategies for My Business?
There are many ways for which a business can be run and each of these methods come with their good and, well not bad, but the results and cost for them might not be what you are looking for. In particular, there is a choice between using short term strategies or long term strategies for your business. In this article I’ll be covering the “short term strategies” for online marketing and their pros and cons.
I think that whatever strategy someone chooses for their business depends on the business owners’ personal circumstances, what they like, how much time they have to invest in their business, and most importantly, how much money they have.
For short term strategies, I find that the results are generated fairly quickly but they can be quite costly. Another thing is, it’s one thing to get the leads, but it’s quite another to convert them into customers and business partners.
It is possible to have a ton of people on your list and not make any money from them… To learn how to convert your leads into sales and sign ups, click here.
So anyway there are two types of people running an online business: full time and part time business owners. Obviously people who still have their full time jobs aren’t able to devote as much time to their business as their unemployed counterparts. So how does this tie in with who best should use short term strategies?
To be honest with you, I think it depends on the individual themselves rather than their employment status. If you’ve been in the direct sales industry for awhile, when you hear the dreaded phrase, “I don’t have any money”, that’s not usually the case. It really isn’t… LIES!
These people have the money don’t you worry about that. They don’t think your product or service is worth it at that point in time… =/
2 Short Term Strategies You Could Think About Using For Your Business
PPC: For those of you who don’t know what PPC is, it’s Pay Per Click. PPC is a great short term strategy if you are looking for very quick, targeted leads. From experience, I can tell you that how quickly the results come for this method is staggeringly fast.
When I ran a PPC ad on Facebook, for my fanpage, I got 30+ new fans overnight. And for my affiliate company, I got 30+ leads!
This might sound awesome and everything.. but the bill for my PPC campaign made me choke on my own saliva and make me wanna do this..
Out of all the short term strategies I can think of, with PPC if you don’t watch your ad campaign closely, prepare yourself for one hefty as bill that could leave you with a very depleted bank account balance.
How it works is, you set a budget for the day on how much you’re willing to spend all up. Each time a person clicks on your ad, you have to pay a certain cost. So for example you set a daily limit of $10 per day, and you pay 30 cents per click. Once the total cost hits $10, your ad stops running for the day and it is reset to run the next day.
Now for someone who was un-friggin-employed (guess who ;P ) and ran the $10 a day ad for 7 days straight alongside my other ad that also cost $10 per day that I was doing for another affiliate company…Yup the triple digit bill was quite a beautiful sight to behold =)
Man I would’ve taken a snapshot of it if I knew I was going to be writing about it one day >< Anyway it looked something like this: amazing how everything nowadays is so expensive huh?
And did I mention getting your PPC ad approved to run on Facebook is a treacherous journey in itself? I kid you not I had to reapply soooo many times before it was allowed to go public. The results are fast, but getting everything started can take awhile.
So the good? This short term strategy is a very fast way to generate targeted leads for your business. If you know how to convert your leads into sales then this should be a very good strategy for you. The ugly? It could destroy your budget if you don’t plan before implementing it. In other words just don’t do what I did.. LOL!
I learned my lesson though I’ll tell you that =p
Next up is solo ads: One of the most popular and rewarding short term strategies out there in my opinion.
So for those of you whose mind turns into a void and goes blank at the mere mention of solo ads, a solo ad is when you pay someone, usually a list broker, money for a certain number of clicks on an ad that you want the broker to distribute to their list.
So, you write up an advertisement/email for something you want to promote or sell. Let’s just say for example the price for a solo ad is $75 for 250 clicks. Once your ad gets approved by the list broker, your ad will be shown to their list of leads until 250 clicks on your ad are generated. After that it will be withdrawn. Now out of those 250 people who have clicked on your solo ad, a fair number, probably around 100, will be added to your own personal list of leads!
Now that’s when the email marketing fun begins!
I’ll just note here that the purpose of a solo ad isn’t to generate sales… it’s to add people to your list!
Once you’ve got them on your list, that’s when you start to build a relationship with them to convert them into customers!
This is just my opinion here, but I think out of all the short term strategies available, solo ads produce the most results and are very cost effective.
Running solo ads is a very fast way for you to build your list. In internet network marketing, building a list is one of the most important things you can do for your business. The larger your list, the more chances of getting sales and sign ups
Another good thing is you get to control how much you spend. There is no chance of you getting over billed like PPC. Usually there is a great range of prices for clicks to choose from. I’d like to say that solo ads are affordable for people who are low on cash, but the cheapest solo ad campaign I’ve seen is $75 for 250 clicks.
Depending on who you choose to purchase a solo ad from, the results for the number of people added to your list could vary. If you run a solo ad with a list broker who has had a lot of people propose the same ad for a product/service as you, don’t expect a lot of added leads to your list.
This is one of those strategies where you get what you pay for. So if you find that the pricing is more than you can afford… well the only thing you can do is try to come up with the cash to pay for it if you think this is for you.
There are a lot more short term strategies that I haven’t mentioned but these two are the ones I have tried and tested so I thought it was more appropriate to write about them.
The thing about short term strategies like I mentioned before is the results come fairly quickly. Be warned that you get what you pay for most of the time and they can be fairly pricey.
Since most short term strategies are done through upfront payment and billing, the moment you stop paying for them is when your business is stopped dead in its tracks.
In my opinion, when it comes to all things short term strategies for online marketing, wait until you have sufficient cash flow to fund them. If you aren’t consistent in a specific strategy and keep jumping from one thing to the next like hot cakes, your results will come fairly slowly.. if at all.