Transcript of my newsletter from 5th October:
It was a holiday weekend here in Hong Kong: two holidays happened to fall on consecutive days (Thursday and Friday), and gave us a 4-day weekend.
Thursday was China’s National Day Holiday, which celebrates the founding of the People’s Republic of China in 1949 – making it 71 years old.
And Friday was the Mid-Autumn festival. This originated when emperors in the Zhou dynasty worshipped the moon on the 15th day of the 8th month in the Chinese calendar, hoping for a good harvest the following year.
As a result, it’s the time of year when Moon Cakes are produced and eaten in great quantities..!
I have to say, though, they are not to my taste. The only moon cake I’ve enjoyed was chocolate flavoured and made by Hagen-Daaz!
OK, so this week I’ve been looking at different ways to grow my business.
One thing I’ve learned over the years is not to put all my eggs in one basket!
Things change so quickly online that a marketing channel that’s working well for you this year may be overtaken by a different one next year.
So keep your eyes on your reporting, and spread your efforts across two or three channels.
I was looking for the latest on paid marketing channels last week – here are some of the things I found:
Marketing on Facebook
I touched on Facebook last week as a platform where you can sell stuff. This article looks into Facebook again in a bit more detail.
I’m currently using FB ads because the targeting features enable me to be extremely specific with the audiences I want to address.
I also mentioned last week that FB has the irritating habit of changing things around for no logical reason. This can be frustrating, but if your target market generally uses Facebook it’s worth putting up with it!
Marketing on Twitter
I’ve used Twitter in the past as a market research tool (you can use the search function and specify detailed questions – it works well!).
However, I’ve not used it to any great extent as a marketing/promotion channel. The reason is because it is very demanding on my time.
To market effectively on Twitter you have to be on it pretty much all the time. Twitter users tweet regularly (multiple times a day) and expect quick responses.
I’ve not had the time to do that but, if you do, or you have a family member or colleague who does, then Twitter can be an effective marketing channel.
It also has a paid ads service so, if you’re in to Twitter this may be something to look at.
I first used Google Ads back in 2006 – it was called Adwords then. In those days it was a highly cost-effective marketing channel, with most cost per click charges below a dollar.
The cost per click, however, has absolutely sky-rocketed since then, and you can burn through a lot of money very quickly if your campaign is not set up well.
You should tread carefully with Google Ads: start very small and controlled, and scale up only when you have your campaign optimised!
Marketing on LinkedIn
Finally this week, here’s something on LinkedIn ads.
LinkedIn is clearly suited for the B2B sector and, within that sector, you can target your ads with great precision.
LinkedIn ads are expensive but if the lifetime value of your customer is high then they are definitely worth it. The ability to target your ads so accurately means that your click through rate is generally going to be high as well, although a lot of that depends on your ad itself.
I’m a Beatles fan and a lover of 60s music. This is a McCartney Ballad, In my Life, from the Rubber Soul album:
OK, that’s it for this week. As always, I want to know what you want to know, so please tell me where your interests lie. That will enable me to give you what you want!
Do please forward this to anyone who might find it useful and, if you received it as a forward from someone else, why not join us?
Owner – WealthyDragon