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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 an alternative of doing our chores and serving us hors d’oeuvres (like Rosey the Robotic from The Jetsons), AI desires to suppose for us.
ChatGPT and different digital assistants may give us mountains of knowledge on any subject underneath the solar in seconds — however how helpful are they?
I wished to see what ChatGPT needed to say about advertising. My enterprise, PostcardMania, has helped 118,342 small enterprise house owners everywhere in the nation with efficient advertising methods for over 26 years. How did ChatGPT’s recommendation examine to what we have discovered?
Associated: ChatGPT Is Powerful — and Can Wreak Havoc If You Don’t Know Its 5 Fatal Flaws
I put this immediate in ChatGPT and was stunned by what I discovered.
Immediate: Suggest advertising 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: Create invaluable 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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E-mail advertising: Interact potential prospects with customized newsletters and gives.
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Referral packages: Incentivize present prospects to refer others.
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search engine marketing 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 group occasions to construct native consciousness.
It is a good begin. Nevertheless, ChatGPT missed these three suggestions that may enhance the trajectory of your online business (I do know as a result of they had been key to my journey to $100 million in annual income).
They uncared for fame administration and social proof, which 93% of customers test earlier than shopping for
An amazing quantity of individuals test Google critiques. One report found a whopping 93% of consumers look to them earlier than making a purchase order. Which means that you can be dropping 93% of prospects if producing good reviews is not a precedence.
The excellent news is it isn’t as sophisticated as you may suppose. Folks most frequently exit of their solution to go away a detrimental evaluation — 95% — while only 47% take the time to submit a constructive evaluation.
The secret is merely asking! And this is not even a problem when you may automate requests by means of e mail or textual content message. In response to research, 70% of customers will go away a evaluation if requested.
The web platform Podium was a game-changer for us as a result of you may 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 critiques elevated 250% from 2020 to 2022. As of July 2024, PostcardMania has over 2,795 five-star critiques on Google, the BBB and Belief Pilot.
Associated: 6 Proactive Ways to Promote Good Reviews and Supercharge Your Online Reputation
They did not suggest unsolicited mail advertising, 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 every week. The one time I minimize my direct mail marketing was in 2008 through 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 median of 15% every year. It is a good instance of how the quantity of selling you place out guides your return.
I’ve additionally discovered that unsolicited 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 unsolicited mail’s effectiveness, although. One study that tracked every participant’s eye motion and coronary heart price whereas participating with mail discovered that individuals skilled extra pleasure and need whereas interacting with printed advertisements versus digital.
Because of the tangible nature of mail, folks additionally recall printed adverts higher than digital adverts. One study found that when requested to quote the model of an commercial they’d simply seen, 75% of individuals may recall the model behind the unsolicited mail piece. Solely 44% of recipients may recall the model behind the digital advert — a 70% distinction.
With a lot knowledge backing unsolicited mail, leaving it out of your annual funds can be an enormous mistake.
They failed to say the largest issue of success: how a lot you ought to be advertising — a large quantity
ChatGPT uncared for to tell readers precisely how a lot time, cash and energy they need to allocate to advertising.
In my a long time of expertise operating a enterprise with over 380 workers, I perceive marketing plans may find yourself on the again burner. A lot goes into operating a enterprise that each one too typically entrepreneurs suppose a easy advertising plan is enough. That is the farthest factor from the reality.
Actually, most of my shoppers hate once I inform them this…
Advertising is the largest differentiator between companies that survive and those who thrive.
It is advisable market like you might be an athlete coaching on your final probability on the Olympic gold medal. The survival and supreme longevity of your online business are on the road; why would you market such as you had been taking part in T-ball?
Even when you’ve got a restricted funds, put as a lot money into your marketing as potential. I even counsel you discover areas the place you can reduce and reallocate the funds to your advertising (so long as it would not put jobs in danger).
No matter you resolve to do — whether or not it is social media adverts, search engine marketing, unsolicited mail — simply give all of it you have acquired. You will not remorse it, and you may possible not solely beat out your competitors however win the gold … that’s, the gold of elevated income.
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