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What is compound interest in small business marketing?

Posted in Content Marketing

Compound interest in small business marketing means creating great content with the intention to get people coming back to your website. Give your readers a good reason to come back to your website, read your latest posts and share your content. By having a schedule of posts in a month, you train your readers to regularly visit your site. The quality of your content is important as it will drive authority in your niche which helps draw attention to you and your website. As you continue to build your authority your website stands a better chance of being recognised by others as important, resourceful and useful. Another great aspect of developing regular content is in knowing that  some content will resonate with one part of your audience while another piece of content will resonate with a different part of the audience. The more evergreen your content is the better you will be at repackaging it and reframing it for your audience. You can repackage your content into ebooks, email tips series, etc. Next Steps At Milkshake-factory, we are on a mission to make your small business marketing hassle free. You will find a lot of articles on our blog that can help you gain insight in the world of digital marketing. We hope these are going to...

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What is product market fit?

Posted in Content Marketing

Product market fit means having a good product that can satisfy your market needs. If the market isn’t getting great value out of your product, it could be due to poor word of mouth, bland press reviews, long sales cycles and you don’t have product market fit.  These 4 steps will help you with product market fit: 1. Get to know your market In a great market, you have lots of potential customers, pulling your product and referring your product to others. Research your market before expanding your business. Think about it’s size, growth, the amount of potential customers you could acquire. 2. Determine your competitive advantage and unique value proposition Often overlooked by startups is competitive advantage and unique value proposition (UVP). Your UVP is a single, clear, compelling message that states why you are different and worth buying over your competitors. By clearly positioning your product within the right market, it can be all that’s needed to drive product market fit. 3. Make your product a ‘must-have’ product Do your customers have a great first-time experience and do they come back for more? Your answer will indicate whether your product is a ‘must have’ product. If your constantly working on improving your product, define your Minimum Feature Set (or...

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How effective is your small business marketing?

Posted in Content Marketing

Small businesses succeed with their marketing because they look back at their goals to measure their efforts. There are five basic types of metrics that small business owners embrace to determine if marketing goals are being met. 1. Automation Metrics The number of emails being sent – If you’re nurturing your leads with emails, identify how many emails sent becomes too many. Trigger interests – Your emails should be appropriately triggered by customer interests and behaviours. Just in time – Do your emails tie in with your sales campaigns, if so, are they sent in time or at the most effective time? 2. Engagement Metrics  Open rates, close rates and click-through rates – Of the subscribers who opened your emails, how many actually clicked through? Bounce rates – High bounce rates may indicate that your communication does not meet the interests of your audience Website traffic – How many visitors have you had to your website? Where have they gone? How long have they stayed? Understanding these metrics will arm you with the information you need to optimise your content and customer experience. Subscribe rates and unsubscribe rates – High subscription rates indicate you are engaging your audience, while unsubscribe rates may indicate the need for better segmentation of your audience and...

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Considering Creating A Facebook Page?

Posted in Social Media

The reasons for building out your small business Facebook page will depend on your goals and how you will measure your results. Below are 5 tips to measure your performance: Tip 1. Week-over-week percentage of change It’s useful for you, as the small business owner, to track the percentage of change. This will provide great insights to what type of content is working for you. Tip 2. Percentage of fan total growth By simply tracking the percentage of new likes against lifetime likes, you can determine your fan base’s average rate of increase or decrease over time. Tip 3. Percentage of active fans against percentage of hidden fans To develop your own tracking dashboard, simply look at the following comparisons: Percentage of increase or decrease of active fans against the previous week Percentage of increase or decrease of hidden fans against the previous week The number of active fans against the number of total fans, and The number of hidden fans against the number of total fans. By establishing these baselines, you can begin to track the average percentage of activity versus hidden content among your fan base. Tip 4. Fan base geo-location Facebook Insights provides you with a breakdown of the raw number of fans added based on...

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Tips To Making More Sales

Posted in Content Marketing

At Milkshake-factory, we’ve worked with dozens of small businesses who have realized results with their marketing efforts. We know competition is fierce. If you are embarking on new marketing efforts and aren’t seeing the traction you need, embracing these tips will help change the course of your efforts. 1. A clear value proposition A meaningful value proposition is the foundation of any solid marketing effort. It should be short, clear, and address your differentiation. 2. A deep understanding of your target customer You want to understand, demographically and philosophically, what your target customer ‘looks’ like. Size Location Industry Qualified But beyond that, you want to have a very deep sense of their pain points and business frustrations: What questions or complaints do you hear repeatedly from your customers? Do your products or services solve specific problems? Are you filling an obvious gap and providing new value? Knowing exactly what your target customer wants and needs allows you to reframe your B2B content marketing strategy from their point of view. 3. Allocated marketing budget Marketing is expensive. Website design and development calls for specialized expertise. And any strategic content marketing effort requires the ongoing development of solid resources to fuel your blog and social media communications. But we’ve found that small businesses that prioritise marketing and allocate...

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