Opinions expressed by Entrepreneur contributors are their very own.
Many people anticipated robots to be part of our future, however maybe not in the way in which we imagined. As a substitute of doing our chores and serving us hors d’oeuvres (like Rosey the Robotic from The Jetsons), AI needs to assume for us.
ChatGPT and different digital assistants may give us mountains of data on any subject underneath the solar in seconds — however how helpful are they?
I needed to see what ChatGPT needed to say about advertising and marketing. My enterprise, PostcardMania, has helped 118,342 small enterprise homeowners all around the nation with efficient advertising and marketing methods for over 26 years. How did ChatGPT’s recommendation examine to what we have discovered?
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I put this immediate in ChatGPT and was shocked by what I discovered.
Immediate: Suggest advertising and marketing methods that may generate new leads and gross sales for a small enterprise in 100 phrases or much less.
That is what ChatGPT suggested:
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Content material advertising and marketing: Create priceless content material (blogs, movies) that tackle buyer ache factors.
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Social media promoting: Focused campaigns on platforms like Fb and Instagram.
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Electronic mail advertising and marketing: Interact potential prospects with personalised newsletters and provides.
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Referral packages: Incentivize present prospects to refer others.
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web optimization optimization: Enhance search engine rankings with focused key phrases.
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Partnerships: Collaborate with complementary companies for mutual promotion.
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Native occasions: Host or take part in neighborhood occasions to construct native consciousness.
It is a good begin. Nevertheless, ChatGPT missed these three suggestions that may enhance the trajectory of your enterprise (I do know as a result of they have been key to my journey to $100 million in annual income).
They uncared for popularity administration and social proof, which 93% of shoppers examine earlier than shopping for
An amazing quantity of individuals examine Google opinions. One report discovered a whopping 93% of patrons look to them earlier than making a purchase order. Because of this you could possibly be shedding 93% of prospects if producing good opinions is not a precedence.
The excellent news is it is not as sophisticated as you may assume. Individuals most frequently exit of their solution to depart a detrimental evaluation — 95% — whereas solely 47% take the time to submit a constructive evaluation.
The hot button is merely asking! And this is not even a problem when you’ll be able to automate requests by e mail or textual content message. Based on analysis, 70% of shoppers will depart a evaluation if requested.
The net platform Podium was a game-changer for us as a result of you’ll be able to ship evaluation requests for a number of completely different platforms from one central dashboard.
After we began utilizing Podium in 2020, the variety of our opinions elevated 250% from 2020 to 2022. As of July 2024, PostcardMania has over 2,795 five-star opinions on Google, the BBB and Belief Pilot.
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They did not advocate junk mail advertising and marketing, which generates 6x extra income per lead than digital sources
Since 1998, I’ve mailed postcards each single week to generate leads and join with prospects. Since then, I’ve solely elevated my mailings, and we’re now as much as 232,000 postcards per week. The one time I reduce my junk mail advertising and marketing was in 2008 throughout the recession, and that mistake crippled our income till we corrected our mailings.
I’ve additionally tracked the expansion that mailing postcards has created. From 2019 to 2023, I elevated our personal mailing quantity by 16%. Concurrently, our income has grown a mean of 15% annually. This can be a excellent instance of how the quantity of selling you set out guides your return.
I’ve additionally discovered that junk mail leads generate six instances extra income than digital leads. We analyzed 114,373 leads that transformed to gross sales in 2023 and located that postcard leads generated 600% extra income per lead ($229.41) than leads from digital sources ($37.09).
There’s a science behind junk mail’s effectiveness, although. One examine that tracked every participant’s eye motion and coronary heart charge whereas partaking with mail discovered that folks skilled extra pleasure and want whereas interacting with printed ads versus digital.
As a result of tangible nature of mail, folks additionally recall printed advertisements higher than digital advertisements. One examine discovered that when requested to quote the model of an commercial that they had simply seen, 75% of contributors might recall the model behind the junk mail piece. Solely 44% of recipients might recall the model behind the digital advert — a 70% distinction.
With a lot knowledge backing junk mail, leaving it out of your annual funds could be an enormous mistake.
They failed to say the most important issue of success: how a lot you have to be advertising and marketing — an enormous quantity
ChatGPT uncared for to tell readers precisely how a lot time, cash and energy they need to allocate to advertising and marketing.
In my a long time of expertise operating a enterprise with over 380 workers, I perceive advertising and marketing plans may find yourself on the again burner. A lot goes into operating a enterprise that each one too typically entrepreneurs assume a easy advertising and marketing plan is ample. That is the farthest factor from the reality.
In truth, most of my shoppers hate once I inform them this…
Advertising is the most important differentiator between companies that survive and those who thrive.
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That you must market like you might be an athlete coaching on your final probability on the Olympic gold medal. The survival and supreme longevity of your enterprise are on the road; why would you market such as you have been enjoying T-ball?
Even you probably have a restricted funds, put as a lot cash into your advertising and marketing as potential. I even counsel you discover areas the place you could possibly reduce and reallocate the funds to your advertising and marketing (so long as it would not put jobs in danger).
No matter you resolve to do — whether or not it is social media advertisements, web optimization, junk mail — simply give all of it you’ve got acquired. You will not remorse it, and you will possible not solely beat out your competitors however win the gold … that’s, the gold of elevated income.
