There are 2 BIG digital marketing mistakes. A lot of businesses are making these mistakes and it is costing them a lot of money and lost opportunities.
Lost money vs Lost Opportunity
A mistake has two sides. One is the money lost, and the other is the lost opportunity.
The money lost we can typically count. If we ran Google ads we can see how much is spent. If we run Facebook ads, we can do the same and see exactly how much.
The lost opportunity is something that is a lot harder to quantify. Sometimes we can work out how much something costs us using some numbers. For instance, instead of making 10 sales we could have done 100 sales. The 90 sales is the lost opportunity.
The 2 Biggest Digital Marketing Mistakes
For me, these are the two BIGGEST mistakes
- Not focusing enough on their digital marketing
- Not testing enough
#1 Not Focusing On Digital Marketing
In my business strategy questionnaire, one of the questions asks how much time people are spending on their marketing. This is how I know that 93% of businesses are not spending enough time. Digital marketing takes work and effort.
Let me ask you: If you have a 40 hour work week … how much time do you allocate to your digital marketing? If you only spend 1 hour a week, that is 2,5% of your week. Many businesses want more sales. Sales comes from marketing. And digital marketing has proven to be extremely effective.
However, if you ONLY spend 2,5% of your week on digital marketing it is no wonder you are not getting good results from it.
You get what you focus on. And that which you focus on improves.
A starting point to get the focus right is checking to see if anything is blocking your sales. This could lead to a quick win to make more sales and have more money for marketing.
#2 Not testing enough
The second big mistake is not testing enough.
The example I use is if we were playing Monopoly. The big difference is, you have 5 dice and I am playing with 1. Who do you think will win? You … you will win because you will go around faster.
Digital marketing is the same. The more you test, the better the results you will get. Not if. WILL GET.
I listened to an interview between Tony Robins (Tony is focused on personal development) and Jay Abraham (he is a marketing guru). Tony asked Jay about a marketing campaign he worked on. Jay asked the company if they have tested headlines. The company did not. So, Jay suggested testing ONE headline. That change resulted in over a 100% improvement in results.
We have done tests for clients. Those clients who do a lot of tests, perform better compared to those who are not testing.
For one client, this change increased leads by 900 people per month. If 90 buy at R5000, that is R450 000 improvement. From ONE test.
For another client, testing images meant the difference between getting 1000% more leads.
If you are NOT testing your digital marketing you are losing out on a lot of potential.