Are you counting on your primary source of leads to grow your business? You may be betting on a losing horse.
Our previous article discussed some of the implications for Australian businesses should Google exit the Australian marketplace. We also promised to tell you why it’s not all doom and gloom, even if it may appear like that on the surface.
To many businesses, Google is #1. It’s the main source of leads and traffic. But in those situations, #1 is the most dangerous and can threaten a company’s survival.
If we look back a few years when Google changed its algorithm, we see that something interesting happened – small businesses lost their leads because they didn’t rank high enough anymore.
A similar thing happened with the Google Slap. That’s when Google decided to change its approach to paid ads. The slap hit both small businesses and big advertisers because the tech giant increased pricing a few times over.
Things like these happened outside the digital space, too.
Many businesses went bust in the US when it was no longer legal to engage in fax broadcasting. Most companies that used it as their #1 source of leads didn’t survive.
If and when Google pulls out of Australia, many companies will get stung. That much is inevitable.
But will the move effectively kill small businesses?
It will, but only those that rely on a single source of leads – that #1 source being Google.
Why is #1 the Most Dangerous Number?
Number 1 is often the most dangerous in both business and marketing.
For a while, relying on a single marketing channel was ok. Plenty of companies found success using only Facebook ads or Google marketing.
But there’s a significant paradigm shift these days.
Businesses now search for their audiences on multiple channels. It’s because having only one source of leads, traffic, ads is no longer as effective as it used to be for most companies.
Let’s say you rely on YouTube to post videos and engage your audience. What happens when your #1 and only video content platform bans your account?
Going further, what if Google pulls its search engine from Australia and you can no longer connect with your audience? What if Facebook suddenly triples its advertising costs when you only invested in Facebook marketing?
Let’s also think about it from another perspective.
What do you think happens if your business relies only on one customer? What happens when that customer or client doesn’t want to continue the relationship?
You have to retarget and find another one.
The problem with having one source for everything is the same as with investing all your money in a single stock – if it fails, you lose all your money. And in the case of single-channel marketing, you may lose your business.
Let’s imagine a delivery company having only one car or van. What happens when it breaks down for a couple of days? There’s no backup to pick up the orders.
All of these types of situations can create a chaotic business environment.
Now, think about if the same things would occur when you also had a number #2 or number #3 sources of leads as a fallback.
It’s unlikely that your #1 source failing would have a huge impact.
Diversification protects you from such events. Not only that, but it can also help you grow your business much faster. Even if Google ends up staying, using it as your number 1 and only resource won’t do your business any favours in the long run.
The solution for real growth and de-risking your marketing strategy is to double down on multi-channel marketing.
The Solution – Go Multi-Channel with Marketing
So, what are the advantages of multi-channel marketing?
Jay Abraham, the founder of The Abraham Group, Inc., has this to say about the benefits of the concept:
“If you’re attacking your market from multiple positions and your competition isn’t, you have all the advantage, and it will show up in your increased success and income.”
Growing your business is about increasing the number of clients, the frequency of sales, and the average transaction value. And getting more clients requires excellent lead generation, and there’s no rule stating you should stick to one source.
Abraham promotes the concept of building a Parthenon for lead generation. The marketing philosophy suggests using more than one or two most frequently used lead generation sources in any given industry.
Simply put, building a Parthenon means adding more lead generation pillars than others typically do.
Obviously, you still need to ensure the pillars you’re adding are profitable. But the critical aspect is to avoid focusing on one, two, or even three of the most popular.
The following should also help you with your multi-channel marketing strategy.
Tip #1 – Get Better at Social Networking
If Google is your bread and butter right now, it’s time to take a hard look at social networking. Platforms such as Facebook, Instagram, Twitter, LinkedIn and others can serve as new pillars for your marketing Parthenon.
It’s possible to find and engage your audience outside Google Search.
Tip #2 – Develop Brand Ambassadors
Work more on nurturing your relationships with satisfied customers and clients. People can speak for your brand and encourage others to buy.
Remember that references, testimonials, or a good word from someone can carry a lot of weight when acquiring new leads.
Tip #3 – Partner with Influencers
Why not take social media networking to a new level?
Paying influencers to advertise your products and services is another excellent way to get leads from sources you never knew existed.
Tip #4 – Do Paid Advertising
Multiple social media platforms have their own forms of paid advertising services. Branch out and retarget audience members that don’t rely on Google for their answers.
Tip #5 – Refine Your SEO
Prepare yourself to work with other search engines. If you want to rank higher on Bing or Yahoo, you should know ahead of time what changes you have to make.
Tip #6 – Directly Engage With People
Do you know who people trust the most?
The person they can see and hear, not the one hiding behind words.
Direct customer engagement through speaking and hosting webinars or physical events is a powerful lead generation tool.
Are You Ready to Diversify and Master Marketing?
Sure, there’s still some concern regarding what Google may or may not do in the future. But here’s the thing – the current environment is better than ever for reaching your audience, wherever it may be.
One tech giant leaving the Australian marketplace is not something to cause major concern. Not when you consider how many other avenues are available for you to increase your organic lead generation.
If you’re ready to take a step forward in the right direction, schedule a free consult with Growth Marketing Systems. Let’s work together and come up with the right solution for your business’s marketing needs.