How Do I Get More New Business?
Boring #WeBuildWednesdays Intro
What’s up, guys? It’s Michael Norris, back with episode six of #webuildwednesdays. Can’t believe it’s round 6 already. This thing is going fast.
The Buying Cycle
Today, I want to talk to you about generating new business, which is something that we all want to do, I’m sure. But before we really get into that, I want to back up just a second and talk about the buying cycle. So, for those of you who aren’t familiar—HubSpot’s got some really good resources on this, if you’re interested in digging in—the buying cycle essentially has three stages. Of course, there could be more, depending on your industry, where you’re at, and what source you’re reading.
Awareness, Consideration, Conversion
HubSpot breaks it down with you more, but essentially, there are three statuses, the first being awareness. After awareness comes consideration, after consideration comes conversion. Obviously, conversion’s where we all want to get. A lot of advertising strategies will focus mainly on this conversion part right here. Google search ads do this a lot. You’re catching people in the moment who are looking to make a purchase at that exact time and that’s a great strategy if you have more of a limited budget. With a limited budget, you don’t really have too much spend to focus on during that awareness stage, but this is really what drives that growth over a long period of time.
So how do we generate awareness? What is the awareness stage? Well, to put it simply, it’s pretty much just people figuring out who you are, that you even exist, and that they have a problem. It’s making them become aware that you’re out there and you have a solution to this potential issue that they’re having. Whatever it is, whatever you sell, whatever your service it is that you want them to know about. That’s awareness.
Now, how do you go about making them aware? You need to get yourself out there and in any place possible, especially where your potential consumers are. There are a few really good sources for doing this. Obviously, you can go the traditional route, which includes billboards and radio. Those are going to reach a lot of people and get a ton of impressions. Streaming audio is another good way to do this, too.
But as far as the solutions that we really like to see here, Google has rolled out some amazing new features with YouTube and Google Display. You can even combine those with your Google search ads so that when people who have previously seen your display ads search for things on Google, they will then also see your search ads. You can put them in the same audience and then determine if they clicked on your search ad because they originally saw your display ad or your YouTube ad. Conversely, you can make it so that people who have searched for a particular term on Google are then put in a custom audience segment, and those are the people that see your YouTube ad.
Focusing On Impressions
Something to note is that these are not really looking at click-through rates. You’re not really checking your cost per click; those are gonna be very low, but those really aren’t the KPIs you should focus on. You should focus on impressions. It’s important to make sure that those impressions are going to the right people because, let’s put it simply: not all impressions are created equal. Obviously, it’s good that everyone knows who you are, but you really want your target market to know who you are more than anything else.
So, what I recommend is that if you’re really trying to get your new business in the door, the first step, and really the number one thing you need to do, is generate that awareness.
Use Google Display. Programmatic is another great one. Try it on YouTube, and geofence conferences where people are at. That’s another strategy we’ve been employing from which we’ve seen some amazing results. But really, just get your ads out there. Really cheap, simple ads that get in people’s faces and make them remember you.
Boring #WeBuildWednesdays Outro
And I’m out. This was episode six of #webuildwednesdays and I’m Michael Norris.