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According to a 2017 study conducted by the University of Bonn, “The same wine tastes better to participants when it is labeled with a higher price tag.” Participants of the study were shown the price of the wine they were about to taste, and the results were remarkable. The participants preferred the taste of the more expensive wines, despite the fact that all the wine samples provided were exactly the same wine. They call this the “marketing placebo effect” and it has a real effect on the brain. MRI scans were used for this test and the effect of an increased price was measurable.

So, how does any of this information help you with your business? I don’t necessarily recommend pushing your prices up from the get-go and would rather maintain that, in practice, people can still tell when a product is not of the same quality for which they are paying. And this is why there are companies that have built a world-class brand and do charge more for their products. So at Mavaric, we promote that people charge what they are worth and not what the market is suggesting.

Website

This is the home of your business in the online space and you have seconds to grab a prospect due to the overwhelming competition. If you think the look of your store influences shoppers, then just wait until you find out how people behave on your website. By the way, you have analytics and can actively use the traffic data to sharpen your website. Click here and fill in the form if you want us to show you how to effectively use analytics.

It is important to ensure that your website looks… recently created, and states exactly what you do on the front page. Some call this an elevator pitch. Are your CTAs clear and where they need to be? Are the images crisp and fast to load? Does your logo present well on all browsers, and on all operating systems? Stand back from your website and look at it as though you are someone with zero knowledge of the business that it being represented. Would you want to contact the business based on what you see? And most importantly, does it talk to your target market? Who is that? Click here to understand who your target market is.

Social

While the website is the virtual storefront of your business, social media can be seen as the online equivalent of your brochures, automobiles and even community. It’s important that your social media’s look and feel mirrors your website… the cover art, the logo, and anything else that is open to customisation. Social is not always a place for sales, but it is a place to connect. So it takes way longer to get engagement but just keep posting and keep sharing authentically about what you do and who you are. People love to follow interesting people. It’s a great place for charity, so whatever you are doing to give back, share it in social.

Graphic Design

You can create your own graphics in PowerPoint, but if you are not aware of the visual pitfalls for which the graphic designers have an eye, and don’t design with your target market being the one to please, your hard work will be wasted. This is why I would strongly recommend hiring an experienced graphic designer to design the graphics for social media posts, blog posts, brochures, and presentation documents, as well as the refreshing of your website.

If you need work on your digital approach, get in touch with Lara on WhatsApp: +31645559258

“How long will it take to get a return on my investment?” I am often asked this question and I believe that it deserves an answer. After all, it’s a perfectly reasonable question for a business owner to ask of their marketing company. Unfortunately, the problem is that the answer is a thorny one. Return on investment is not a “one-size- fits-all,” and it varies from company to company. Let us take a look at the two very different businesses:

Business 1 is a gambling website already making money. The owner decides that he wants to advertise on Google Adwords to extend his company’s reach and become widely known. He has heard that Google changed the rules recently, allowing gambling websites to advertise with Google Adwords, and he is excited at the idea of adding a well-established marketing avenue to his existing marketing plan.

Business 2 is in the idea phase. The owner wants to develop an app to enable an iPhone to function as a computer mouse. Since everyone and their aunt advises them to start marketing from day 1, the owner approaches us to help their business succeed as soon as it launches.

Now we look at three of the key factors that influence ROI

The first factor is product-solution- fit. Does your product solve a problem? With the gambling
business, the answer is yes. The business is making money, which is the proof. With the web-app business, the answer has yet to be discovered and, ultimately, will be answered after extensive market research.

The second factor is product-market- fit. Will people pay money for the solution? Again, with the gambling business, the answer is yes. People are already paying money; the owner just wants more customers. With the second business, the owner has not established this. A quick look at the app store shows that there are already people giving away a free iPhone mouse app. This creates a challenge for the business.

The third factor? The two business owners need to establish scale. Can they gain a sufficient number of customers in order to keep the business afloat? Business 1, already done. He has calculated his lifetime customer-value and knows his target cost-per-acquisition. Bonus? Google clicks for gambling are reasonably cheap, around R10 a click. The gambling business owner calculated that a customer is worth R3000 – R4000 per year, so the maths is pretty easy from there. He could probably spend R1000 per customer and see a return. With the app business, the price of an app is R3 – R4. The margin on that is tiny and he still has to give a percentage of what the app makes right back to the app store. Obtaining the scale portion of this is a challenge. In short, the second business owner has no validation whatsoever that anyone will buy his product, or whether he can gain them in sufficient scale.

And even if he could, the odds are stacked against him because he will have to acquire these customers for a few cents in order to see a return – a most unlikely scenario. A good marketing company should be able to tell the difference between business 1 and business 2 and everything in between. If iteration and testing needs to happen, there will be optimisation. The key thing that you can control in addition to restraining the variables is the speed with which you can go through the optimisation process. It is best in the long run to work with a marketing company that builds and tests quickly so that you can optimise your ROI in a shorter amount of time. Give me a shout in the comments section or fill in the form on the
Connect page if you need any marketing assistance.

There is a great joke I heard a while back: “How can you tell if someone read the book on which a movie was based? It’s easy. They will instantly tell you.”

It’s the classic tale of book versus movie. On the one hand, reading a book is an accomplishment. It takes far longer to get through a novel than it does to get through a movie. On the other hand, a movie is the condensed version of your favourite story and it is a testament to the quick-fix society in which we are living today. It sums up almost everything you can expect in a book with none of the time needed to invest in the book and, since time is money, people will watch movies instead of reading books. Love it or hate it, these are the facts of our current age. It also happens to be the digital age and the same “reading versus watching” shift is happening on the Internet. After all, who wants to read an article when they can multitask during a self-help or educational video?

Videos End Up In Search Results

Have you ever researched a topic using Google and found some videos popping up in the search results? Where once videos were not considered for SEO, due to the fact that Google couldn’t know what was in the video, YouTube now allows for videos to be SEO-friendly and your videos can easily find their way into the search results. Since we have established that more and more people will gravitate towards the quick-fix of a video playing while they multitask, your video will quite likely be the one people click on which leads me to…

Jump In Before Your Competitors

According to this Think With Google article, 76% of people who conduct a local search on their smartphone visit a business within 24 hours and 28% of those searches result in a purchase. A video can help you explain your offerings, even better, it is as though you have rolled a few touch points into one with your customers “binge watching” all your videos─and you end up with a very hot lead indeed. This will undoubtedly give you the edge.

Be Seen As The Confident Industry Leader That You Are

Gone are the days when the CEO of a company was not a public figure. People want to trust in your company before they commit to a sale and since you are the face of your company, what better way to build said trust than to show your face, exude confidence, and give value to your potential customers by sharing your insights?

If you want to find out more about video marketing, how it will grow your business, and how Mavaric can help you with this crucial way of marketing, get in touch with me, Lara, via our Contact Us Page

Your website is online, the homepage points to all the right pages and your Contact Us page is ready for business. With all that hard work done, why go any further? Surely your website will be enough to lure in the leads. Well, no. Content is not only important to your website and overall marketing strategy: it is vital! The world-wide-web is huge and so the hope that people will magically stumble upon your website is a false one. There are simply too many voices—you have to make sure that your voice is heard. So, how does content help?

Search Engine Optimisation Will Speak to Your Target Market

At this point, you should know exactly who your target market is (if you do not, navigate to our Connect page so that we are able to contact you and help you with this step), and if you know exactly the problems your target market is experiencing,  you will have the solution to that pain. And you should be using Google to help people find you and your solution by having content on your website, which speaks exactly the same words for which they are searching.

Give Value

Greed is not appealing to anyone. If you come across an online marketer who only ever says, “Click here to buy all my stuff,” then you will probably ask that all-important question: “Why?” Or even better, “Who are you exactly?”

And so you should. Why should you trust that person with your money? Back in the old days, when there was only one shop in town, you had no choice but to buy from the owner of that one shop. But right now, there are so many voices calling for your attention, and anyone who wants to sell their products or services would have to stand out from the crowd. How do you do this? You do it by adding value to the lives of your would-be customers. Make a name for yourself as the person who is willing to give away some insider tips into what you do, because it shows your potential customers that you care about them. Ultimately, most people will still ask for your help anyway, because even if they know exactly how to do it, they will trust you with their money if you care about them.

Do you have any questions or comments? Sign off below or use the form on the Connect page.

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