Of course, we are all perfect at digital marketing.
Our content resonates with our customers’ needs and desires. We know exactly what to measure. And we are always focused on the channels and strategies that deliver the best ROI.
Not so fast my friends, according to digital marketing wizards — Ryan Deiss and Russ Henneberry. They have identified so effectively 10 of the most common digital marketing mistakes in their new book Digital Marketing for Dummies.
You know that I am a sucker for dummies books (hold the jokes, please) which get you up to speed fast on best practices ideas and insights.
Here are five of Ryan and Russ’s 10 mistakes in part 2 of this post. The initial remaining five are in part 1 from earlier this week:
- Tracking the wrong metrics — every business should be tracking two overarching metrics — cost of acquisition (COA) and average customer value (ACV). COA is the amount of money you must spend to acquire a single customer. If it cost you $40 in marketing spending to acquire each new customer, your COA is $40. ACV is calculating the immediate value of a new customer. If each new product sale generates $20 in net profit and a person buys two products, each customer produces $40 in profit for the business.
- Building assets on other people’s land — social media channels can and will change their rules from time to time, and those changes may not be in your favor. Focus on building media assets that you own, particularly your email list. You should absolutely build connections on social channels, but look to migrate those connections to an asset you have more control over.
- Focusing on your content quantity instead of quality – – the Internet lacks remarkable content, and if you can provide it, you will get traction from it. Instead of 10 new blog posts this month, invest 10 times that effort into creating a single remarkable post. Then prime the pump by driving eyeballs on your remarkable post by buying traffic to it.
- Not aligning marketing goals with sales goals — the goal for sales and marketing is a happy and successful customer. To reach this goal, marketing must generate awareness and leads, and sales must close those leads. And most important — is that the customer experience must be amazing.
- Allowing “shiny objects” to distract you – concentrate on what is working and focus on acquiring new customers with great offers and supporting those acquisition efforts with high quality content and a sound traffic strategy. Try to ignore the daily new ideas that keep popping up to distract you and offer little value.
What mistakes are you making in your digital marketing?
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