Numbers, particularly marketing numbers, matter a lot. I know, you sell widgets, and the only number you really care about is net profit after taxes at the end of the year.
There are other numbers that matter too. Let me explain.
How big is your audience? This is a number you should know. If you advertise in the newspaper, then it’s the daily circulation times the number of times you run the ad. If it’s a sign, it’s the average daily traffic count of the road it’s on. If it’s a radio ad… well, you know. Write down that number.
What is your response rate? How many actual customers are you getting from your sources? Actual customers divided by total audience = response rate. I’ll be surprised if it’s much greater than 1 to 5%.
Now take the actual number of new customers you got and divide by the amount you spent. This is your cost to acquire a new customer. This also called “Marketing Investment”.
Here is where it gets interesting.
You can buy a domain name for about $9. These have to be renewed periodically, so let’s assume the $9 is an annual cost.
You need a web hosting site for your domain. The cost ranges from free to around $400 per year. Let’s use $400.
This means that for about $409 per year, you can publish your story to an audience of over 277 MILLION people. That’s about as close to free as you can get. If you were to convert ONE THOUSANDTH OF ONE PERCENT of that audience into customers, that’s 2700 new customers at a cost of 15.1 CENTS per customer.
In addition, with website marketing, you now have an easy way to stay in touch with your existing customers and clients making sure they come back again and again and…
That’s why you need a website.
Yes, there is more. Numbers like those above aren’t enough. There is a lot more information required if your small business internet marketing campaign is going to be successful.
In order to attract an audience to your website, you need to know more stuff.
Then go to What are Keywords to find out how to attract customers to your page.