Photo Credit: lusi
Another common question that I get asked by business owners:
“So which should online lead generation strategies should I use for my business?”
My answer is often:
“It would be good to run a Google AdWords campaign first.”
Some business owners define and create their products and services, then launch a massive advertising campaign for them, only to discover that nobody is interested what they are selling.
Determining Your Target Market
Wouldn’t it be better to find out if you have a target market before committing to a large marketing campaign?
So taking those lessons learnt, let’s go back to the drawing board.
Sketch a plan for your business.
Test the market and the viability or demand for your products and services.
How do you test the market?
We recommend using Google AdWords.
Why would you start off with running a Google AdWords campaign first?
For a small outlay, you can quickly see whether there are real people out there who want what you have to sell. Within hours of beginning your AdWords campaign, you will be receiving valuable data about your target market.
This data provides hard evidence about your customers and your products, so you don’t have to rely on your gut feelings. Perhaps you think that product A will sell better than product B, but after running an AdWords campaign for a few days, you in fact find out that product B out sells product A 4 to 1. That’s important information to know, don’t you think?
Provides Useful Market Validation
Market validation is about testing the market to see who is out there who wants to buy your products. Do they really want product A? Why is that?
Google AdWords is a great way to validate the market
If you are targeting a search term, and you find that you have no other competitors, it may be a warning that there is no demand for your product, or maybe you have found a market that nobody else knows about yet. An AdWords campaign will tell you which is correct within a few days.
Avoid Wasting Money on Products that People Don’t Want
Data gathering and analysis of your market via AdWords can help you find and correct your assumptions early on, so you don’t spend tens of thousands of dollars marketing products and services that nobody wants.
We recommend starting off with running a Google AdWords campaign to test and validate the market for your services and products. Google AdWords allows you to quickly and cheaply determine what type of customer base is out there awaiting your next innovation.