© 2005 Watermelon Mountain Web Marketing 1 The ABCs of Internet Marketing NMSU Extension Service...

© 2005 Watermelon Mountain Web Marketing

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The ABCs of Internet MarketingNMSU Extension Service

Enhancing Economic Prosperity In New Mexico’s

Frontier Communities Through E-Commerce

Mesalands Community College Tucumcari, NM 9/8/05

Jan Zimmerman, Author Marketing on the Internet 6th Ed., Maximum Press

Watermelon Mountain Web Marketing

4614 Sixth St. NW Albuquerque, NM 87107

[email protected] 505-344-4230


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Field of Nightmares: You Built It, But They Didn’t Buy• A Web site without visitors is a waste of

money

• A Web site with the wrong visitors is still a waste of money

• All the marketing in the world won’t help unless the 4Ps of marketing are right:

• Product • Price • Position • Promotion


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“The more hits we get, the more money we get…”


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Agnes wasn’t too far off… (except it’s visits, not hits)

People Who See Your URL

Visitors to Site

2- 4%

Prospects

Qualified

Leads

Buyers


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Know Before You Go Online

Know your target audiences Demographics Where else they go online; when; from where

Plan your work, work your plan How will you measure success? Establish goals and quantifiable objectives Establish average sale value, number of sales Write down your plan


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1000 Impressions Make A Sale Only 2% - 4% of visitors who come to site will

buy or call; be conservative.

Multiply desired sales by 50:

e.g. 10 sales/mo x 50 = 500 visits needed/month

About 5% of viewers who see URL will visit. Multiply desired visits by 20:

e.g. 500 x 20 = 10,000 people who need to see your URL somewhere each month


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Estimating Cost of Site Marketing

Budget 25%-30% of development cost first year

Budget ongoing marketing at 10% of projected revenue or more

ROI = Return on Investment: how long will it take you to earn back what you’ve spent Look at profit, not revenue!

CPM = Cost per Thousand Impressions


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Other Ways to Estimate Marketing Cost

Acquisition Cost = Cost/New Customer

or average value of sale in 1 year• Retail $35• Amazon.com $29• Credit Cards $50 - $75• Mortgage Lenders $100 - $150• Online Brokers $150 - $250


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What You Already Know Is Right!

Don’t put all your marketing eggs in one basket

Web is only one part of

marketing Guerrilla marketing: target

1 market at a time Measure results & adjust!


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How People Find Your Site


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Online Promotion By Cost Of Acquisition www.markneting.com/mservices.htm

• Customer referral

• Search engine placement

• Links negotiation

• Search engine paid position

• Opt-in email

• Affiliate programs

• Online promotions

• E-mail newsletter sponsorship

• Traditional media advertising

• Typical banner advertising

$ Cost

$ Cost


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Site Promotion Techniques Draw repeat visits Email techniques E- newsletters Viral Marketing Word-of-Web

Campaigns

Online Press Offline Methods

Search Engines Link Campaigns Online Ads (PPC

like Google, or banner ads)


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Optimize Your Web Site For Marketing

• Add Value

• Build Relationships

• Sell Benefits, Not Features

• 2 Clicks to Buy

• Marketing's 3-Letter Word


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• A Four-Letter Word beginning with F

• Register Now

• Bookmark This Page

• Make This Your Home Page

• What’s New

• Buy Now

Calls to Action


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Ideas That Draw Repeat Visits• Valuable content updated often

• Chat rooms

• Coupons

• Contests

• Free samples

• Message boards, blogs

• Live events: e.g. music

• Wish lists, calendars


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Signature Block for Email

Lamb’s Wool for Weavers

Mary Molloy

On the Lamb

1234 Route 66

Tucumcari, NM 88022

T: 505-555-7777 F: 505-555-6666

E: [email protected]

Shearing Festival September 20, 2005

For details, visit: http://www.onthelamb.com


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Automated Listbots

• Inexpensive automated response from your ISP or Web Host

Guest Ranch Events• July 31 Sunset Trail Ride with

Chuck Wagon Cookout• August 7-8 Rodeo• August 15 Meteor Shower &

Midnight Hay Ride• September 9-18 County Fair


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Value of E-Newsletters

• Less expensive than print

• Timely news distribution

• High click-through rate >5%

• Allows you to stay in contact with customers and prospects on a regular basis: it’s cheaper and easier to sell to someone twice than to get a new customer


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Email Addresses Are Gold!• On-site Registration: Give people a

reason to sign up!

• Take Sign-ups in Store

• Rent Opt-in Mailing Lists– e.g. namefinders.com

• Avoid Spam


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Newsletter Templateswww.constantcontact.com


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Sample Newsletterwww.nmsitesearch.com


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Viral Marketing: Tell a Friend www.lagunavistalodge.com


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Viral Marketingwww.subservientchicken.com


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Word-of-Web Campaign: Buzz-Buzz-Buzz

• What’s New

• Hot/Cool Links

• Award Sites:

• Blogs

• Chat Rooms & Message Boards

• internetnewsbureau.com

• rosenet.net/hot/

• award-it.com

• blogger.com

• chat.yahoo.com


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Online PR Sources• Electronic press release distributed

online and/or off

• Free distribution sites, e.g. www.prweb.com

• Paid distribution sites, e.g. www.marketwire.com $80-$375/each


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Free PR Sitewww.prweb.com


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Promote Your Site Off-line

• Word-of-mouth & Referrals• Coordinate Your Campaign: Radio, TV, Print,

Billboard• Stationery, Packaging• Marketing Collateral

• Promotional Items• Community Events • Tradeshows & Fairs


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www.promoofthemonth.com


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www.wbcards.com


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WIIFMWhat's on this Web

site for me?

Answer that for visitors and your

Web site will work magic for you!

© 2005 Watermelon Mountain Web Marketing 1 The ABCs of Internet Marketing NMSU Extension Service...

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