It’s always interesting to see how the conversation unfolds when you put 3 successful entrepreneurs together.
We discussed marketing strategies that are working today, the right products to offer, and trends we see happening.
One point that stood out to me the most was when Dan mentioned he knew several people who refuse to spend a penny on their business.
If it isn’t free, they don’t want to do it.
So they concentrate only on “free” methods of marketing.
They focus on seo. They participate on Facebook. They tweet. They hunt down affiliates. They produce a regular video to run on Youtube…along with commenting on others and building a list of friends there.
I’ve heard some social media gurus even recommend spending 16 hours a day or more working on your business in social media.
Are they CRAZY?
This is a lifestyle business to me. And there is nothing I want to do for 16 hours a day. Seriously…even if you absolutely love doing something…you still don’t want to do it for 16 hours a day!
Just this past week someone emailed me saying that internet marketing took too much time…social media alone was consuming all their day.
Yet, people call this free advertising. Sure…it’s free if you’re willing to let it consume your life, wear out your body, and drive you into an early grave.
This may surprise you if you listen to all the social media experts.
Several of my top clients participate in ZERO social media for their business. ZERO.
They have a Facebook for personal use and their team members write content for their site and bookmark it to sites.
But they don’t spend any time themselves using social media to grow their business.
Instead they have search engine optimization being done by others. Their PPC and banner advertising is humming along. And they run ads in offline publications.
This isn’t just a hobby for them anymore. It’s a real business that produces profits and a lifestyle they enjoy.
Am I telling you to quit participating in social media?
No. Of course not. But I’m telling you contrary to what you’re being told…it’s not required.
And for many entrepreneurs, it’s a distraction that is destroying their business.
Often free is just too expensive.
If “free” consumes time that would be better spent on the highest income producing activities of your business, then it’s holding back your income.
If “free” consumes time that belongs to your family, then it’s even worse.
With the current attitude of online marketers, this almost seems like heresy.
Facebook isn’t required. Twitter isn’t required. Youtube isn’t required.
They could all potentially have a place in your marketing, but so could a LOT of paid advertising methods.
What’s required is having a consistent source of new leads and buyers coming in. Once you have that established, grow your business by building a couple of more funnels (along with working on your backend marketing to those customers).
Social media may become one of those sources, but NEVER limit yourself and your business to just what’s HOT right now in internet marketing.
Choose what’s right for your market, your offer, and your audience.
And if you’re still trying to choose the right market for you, check out Choose Your Market where Glenn Livingston and I provide you with detailed steps to come up with potential markets and score them directly with each other.
There isn’t any other course like it that goes into such detail on comparing both the time and financial estimates in each potential market before you get moving.