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When my friend’s small business was struggling a while back, I suggested he add some social media marketing initiatives, and his answer was that he was “too busy.” According to a recent Harvard Business Review article , only 60% of companies today use social media for marketing, and only 12% of those feel that they are using it effectively.
You can pour your heart and soul (and life savings) into a venture, do all your duediligence, toil 80- and 90-hour weeks, and just when you’re on the verge of a breakthrough, a dark horse competitor sweeps in and decimates your market share. Treating technology as a magic bullet. Or a key vendor declares bankruptcy.
If you lose a customer due to price or other circumstances beyond your control, then fine. It indicates serious flaws in your internal business processes that can lead to additional losses. Today, though, technology has changed that model. To remain relevant, entrepreneurs must use technology to stay close — but not too close.
Hence, it is critical to market it the right way. Directmarketing doesn’t work out often, so, to make the brand visible, you need other marketing efforts. Supported by all the leading browsers including Chrome, Firefox and Safari, the adoption of web push technology has been rapid. Re-targeting.
I have a few contractors to do the technical side of my work and a customer support person, but that’s it. I didn’t have a contractor doing technical things for me. For example, you’ve probably done searches in Google to find what websites rank well for the search terms you want to bring leads to your business.
Money buys resources, technology, and manpower — all critical elements in helping a new business succeed. Sub in new technology, a bigger store, a larger advertising budget, and on and on, for those two pennies and you get excuses made by struggling entrepreneurs everywhere. It takes courage.
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