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One of the biggest challenges that entrepreneurs are going to face as an entrepreneur says Edmonton accountant is being able to find enough customers for their product or service. In fact, industry Canada reports that half of all entrepreneurs in Canada will fail than five years. 42% of those entrepreneurs who fail say the reason why they failed was because they were unable to find enough customers for their product or service. Therefore, business owners should be coming up with strategies even before the open their business on how they are going to find those customers, so that they do not succumb to that high failure rate. While online advertising can be extremely effective, business owners should first explore all of the three options that are available to them first, and once they have done that, they can utilize an effective strategy for finding customers for their product and service online.
Many people are confused when it comes to online advertising, because there is a wide variety of products that they can buy, and places that they can advertise online. However, Edmonton accountant says there are only a few that have been proven to be effective consistently. One of those proven effective marketing products is Google AdWords. What this is, is entrepreneurs can buy AdWords, and whenever a consumer does Google search for things that fit the products or services that I business owner has bought AdWords for, the advertisement for their business is going to show up in the Google search. These Ads are going to appear at the top of the search results, before the map listing and before the organic search results. Therefore, consumers are most likely to click on those ads first.
One of the most important things for business owners to take into consideration when they are advertising with Google, is that they need to be consistent and they need to be patient. The reason why, is because it takes consumers seeing a business owners add four point three times before they take action. Therefore, an entrepreneur cannot try this method for a month, and then quit if it is not effective. The best way to generate results with this method, is to commit to a specific amount of money to spend every week, and then sticking with that for a long period of time for it to be effective says Edmonton accountant.
The other reason why business owners need to be consistent, is because if they start and stop there marketing efforts with Google AdWords, they are going to not achieve the full buying cycle with customers. They might see the business owner at once, twice or even three times, and if a business owner quits there marketing efforts before they get that important fourth time, they are not going to get that consumer to buy. Therefore, business owners need to be consistent, because not only will it take a longer time to generate results of the start and stop there method, it will also cost them much more money.
The key to advertising online says Edmonton accountant is spend money on the platform that is most effective, and be patient and consistent. When an entrepreneur can do this, the be more likely to generate results that can help them find all of the customers that they would not have found other ways. By doing this, business owners will ensure that they are helping their business avoid the number one reason for business failure in Canada.
When entrepreneurs have exhausted all of the three marketing methods online says Edmonton accountant, they will be ready to start spending money for their advertising online. However, many entrepreneurs are not sure the best way to start advertising online, since there is a very wide variety of places to advertise, and many different products out there. However, coming up with a great marketing strategy ahead of time will help entrepreneurs know exactly what they need to do when the timing is right for their business.
One of the first things that business owners need to figure out for them selves, is how much money are they willing to spend on advertising. While successful companies spend money on advertising, the most successful companies spend more than their competitors. And while the amount varies by industry, the average for people to spend on their advertising is approximately 2% of their annual revenue. Therefore, if an entrepreneur is serious about advertising, they should consider how much of that they are willing to spend, and how much to spend online.
Once an entrepreneur has decided that they are going to spend a percentage of their marketing budget online, they should figure out how much they are willing to spend. Edmonton accountant recommends that business owners need to commit to a weekly ads spend budget, that will allow them to get traction on their campaign as well as get enough data to figure out if what they have been doing for marketing has worked. The recommendation is for entrepreneurs to commit to about two hundred and fifty dollars per week. By spending about a thousand dollars a month on online advertising, business owners will be able to find out if that is effective for their business, and if they need to adjust things like the keywords that they are using, and where they are advertising.
And while Google is the most popular platform to advertise on, Edmonton accountant says this is the most popular because it is the most effective. And while it is extremely effective, the high amount of competition has driven up the price. An effective strategy to help entrepreneurs is to spend some money on Google AdWords, but then use a retargeting product to redirect customers who have seen that and once business owners add more often in other places online. Therefore, an entrepreneur can get the benefit of Google AdWords, without having to pay for every single click.
By having a clear plan on where business owners are going to spend money online, and how much can help ensure that they are spending their money efficiently and effectively, attract customers. By doing this consistently, once an entrepreneur has exhausted all of their free marketing efforts, they will be able to be more likely to find the customers they need to sell their product and service, and become successful in their business.
