Social Media Marketing – Do What You Are Good at, Outsource the Rest

The decision to outsource your social media will come because of one of two main reasons, there are lots but here are what I believe to be the two Main reasons. You do not have enough knowledge to do it properly yourself or you know what you are doing but do not have enough time. Does either of those describe you?

When you concentrate on what you do best in your business which is most likely the part that actually makes the money then you are focusing on the important part. You are in business to make money right? You are MUCH more effective, can get more done in less time when you are working on the part of your business that you are really good at.

You will become much more comfortable with the idea of outsourcing your Social Media Marketing when you put procedures and processes in place. When you sit down and think of the process from start to finish, what do YOU want? What does it look like? How can you tell along the way when you are getting value? I am sure these questions and many more have come to mind when you think about outsourcing. However there is just not enough time in the day to get everything done!! You know you need help. You need to concentrate on what YOU are good at and have someone else do the rest.

To put your mind at ease, to confirm to yourself that you are getting your money’s worth here are 3 things you can do up front to help…

1) take the time to find someone who knows what they are doing, if you go out and pick the first person you see you could very likely be setting both them and you up for failure. They may never be able to meet your expectations. Take the time to find someone who is a good fit for you. There will be a lot less headaches and hassle on the back end by putting in this time and effort up front.

2) Provide very specific directions, the very first time I hired a virtual assistant this is where I could have done a better job. Your directions must be in writing, who ever remembers all the details of a conversation without written notes. It is in your best interest to write out your specific directions before having the conversation. That way when you do speak you are both looking at the same thing and any misunderstandings can be cleared up right away.

3) Have a picture in your mind about what a good job looks like. Do this work up front, that way you will be able to describe what you want done to someone more effectively.

BONUS TIP Be sure to have dead lines for your projects that also have consequences if things are not completed in a timely manner.

And now, I would like to invite you to get your Free Instant Access to 30 Social Media Marketing Tips & Techniques to build your home business using Facebook, Twitter, Linkedin and YouTube.

Internet Marketing Concepts – The Amount Of Money You Make Is A Direct Result Of Your Effort

The amount of money you make as an Internet marketer is a direct result of your effort. Once you understand this, you will align all of your efforts so that they are focused on making money. For example, if you spend a lot of time interacting with other people on Internet marketing message forums and ignore the work you have to do, there is a very real possibility that you will not make any money. While there is nothing wrong with interacting with other people on forums, you need to understand that the amount of money you make is a direct result of your effort. Therefore, your efforts need to be squarely focused on generating an income — not making friends with people who are broke.

Some experts recommend that you allocate a fixed portion of time per day to focusing on making money. That way, you are not feeling as if though the entire time you spend behind the computer needs to be focused on working. This makes sense because the human brain needs entertainment and fun. You cannot simply work nonstop as a robot would. However, you need to be very careful that you are not finding yourself in a situation where you procrastinate endlessly. It is incredibly important that you remain focused on reaching whatever goals you have established for yourself.

By having a clear sense of what you are trying to do, it will be far easier to brush aside any distractions because you know that the amount of money you make is a direct result of your effort.

Direct Marketing – Work in These Four Areas to Lift Profitability

Direct marketing is based on data about individual customer responses and transactions which are used to target, execute and control marketing actions meant to start and develop profitable customer relationship in the short-term as well as the long-term. The strength of direct marketing is that its profitability is easy to measure compared to mass consumer approach to marketing. Since this is so, it’s necessary to pay attention to the factors that impact that bottom line result.

Here we’ll look at four of those factors that affect the profitability of direct marketing operations.

1. Objective. The objective of the project must be clearly stated in SMART (Specific, Measurable, Achievable, Realistic) terms. Common areas for objectives include customer acquisition, customer retention and winning back old customers. Customer acquisition is more costly than the others.

2. Life Time Value of the Customer. This is a calculation of what a customer in a category will contribute to profit and overheads during their “lifetime”, that is, while they remain a customer. This measure is affected by customer retention rate and inflation. It’s used for deciding how much to spend on a customer and to assess the best sources of customers. If you increase retention rate, then LTV will increase assuming price does not fall, which is unlikely. If for any reason inflation rate drops, then LTV will increase also, all things being equal.

3. Return on Investment. There are several ways of computing this statistic. The simplest method is the sales value method, in which you divide the sales value by the marketing cost. This measure is useful because it focuses on two main drivers of the amount of profit. There are three ways to increase ROI. One is to raise sales value and keep marketing cost the same. Two, bring down marketing cost and maintain sales value. Three, increase sales value proportionally more than marketing cost.

4. Allowable Marketing Cost. This measure is meant to inject discipline into the cost of marketing. It sets the upper limit to what you can spend to acquire new customers. Going above it, and I guarantee you will not be loved, because it means erosion of the desired profit unless, of course, product cost and distribution cost some how fall. It’s arrived at by netting out cost of goods, distribution cost and desired profit from sales value (All per unit).

Having set the objective in the area of interest, the profitability of a direct marketing campaign depends on the key efficiency measures of life time value of customer, return on investment and marketing cost management. These concepts are also useful even if you are doing business online.