What’s Your Elevator Speech?

An elevator pitch, elevator speech, or elevator statement is a short summary used to quickly and simply define a product, service, or organization and its value proposition. The name “elevator pitch” reflects the idea that it should be possible to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes

For most Maine small businesses, your elevator speech is usually pretty simple.  “We plow driveways”, “I mow lawns”, “I own a hair salon”.  But is that really how you describe yourself or your business?  For almost every small business owner, there is some point in a conversation where the passion for what you do shines through.  It’s what you do for a living, it’s what you love.  You invariably speak of a specific key point in your business; helping others, working outdoors, making the perfect pizza, whatever your passion is, the reason you started it all in the first place.

Shouldn’t your website express the same passion?

How often do you visit a company website and leave within seconds?  The average internet user stays on a webpage less than 60 seconds.  That means your website IS your 30-second elevator speech.  Does your site, specifically the main page, express your business in a text and graphical manner that the visitor understands what you do in the time it takes their eyes to scan the page?

Have your speech honed yet?

When creating small business website designs for Maine small businesses, we often find that most owners have the hardest time creating an “About” page that describes them, what they do, or even why they do it.  They often struggle how to “define” themselves.  We explain the elevator speech principle, which allows the owner to express their passion in a way BrainTriggers can recreate and represent, that passion, in the website design, in social media, and in the SEO, but most importantly to each visitor.

Do you know – Lifetime Value Of A Customer

Do you value your customers?

We all appreciate our customers, but do we really value them?  There’s a huge difference there and we’re not just talking semantics, we’re talking about the lifetime value, that customer, provides to a Maine small business.  Most small businesses don’t even know what the lifetime value of a customer is, never mind how to calculate it.

Calculating the Lifetime Value of a Customer

Some Maine website design companies may say that “break even” is the most important metric of a business, but we believe “lifetime value” is perhaps the most significant measure. We also know it’s one of the most overlooked and least understood metrics in business — even though it’s one of the easiest to figure out.

So what, why is this metric so important?

Once you figure out this number, it should help you decide how much you must spend to “get” that customer, for example by getting a fanpage or blog. After you know how often a customer buys and how much they spend, you’ll know how much you must spend towards gaining new customers online, growing your company, and keeping your existing customers happy by giving them a direct link.

The simplest way to estimate lifetime value

(Average $ of Sale) X (Number of Repeat Transactions) X (Average Retention Time in Months or Years for a Typical Customer)

An easy example would be the lifetime value of a gym member who spends $20 every month for 3 years. The value of that customer would be:

$20 X 12 months X 3 years = $720 in total revenue (or $240 per year)

Now you can see even from this example why many gyms offer a free starter membership to help drive traffic. gym owners know that as long as they spend less than $240 to acquire a new member, the customer will prove profitable in a short amount of time.

How much should you spend now?

Now, figure out your lifetime customer value, how much are you going to spend on webpage design or seo services to get that customer? The point is, you’ll never know how to budget for an online presence, unless you know what you must spend to get that customer. This knowledge is vital because it will help you make marketing decisions based on your own numbers, rather than the promises of some new media.  And don’t forget, YOUR time is money too!

Don’t discount Discounts

Knowing lifetime value lets you see how much, or any, you can discount. With that number, you will be able to run cross-promotions, online give-a-ways, online or offline discounts for action (visit business, referrals, etc) knowing that what you spend will be less than what that customer will spend with you. From there, you will be able to see what online methods work for gaining customers, what media has the best return on investment, and what online presence management serves your customers best.

The bottom line is, it’s the lifetime customer value that will determine the ultimate success of any Maine small business’ website, social media, and online presence.

Online presence – Why it needs to be managed

 

Online presence management is the process of presenting and drawing traffic to a personal or professional brand online. This process combines web design and development, blogging, search engine optimization, pay per click marketing, reputation management, directory listings, social media, link sharing, and other avenues to create a long-term positive presence for a person, organization, or product in search engines and on the web in general

Web Design and Development

Web design ensures that the brand is visually attractive through web site layout, logo, image placement, and other strategies. This may include establishing a consistent graphics scheme to use in establishing brand consistency across online platforms. Web development includes programming sites, creating mobile versions or apps, and related activities. A developer can tie branding into navigation and integrate search engine optimization into a brand’s web site. Security configuration is also important to ensure brand reliability online.

Blogging

Blogging can promote a brand through consistent, interesting content generation associated with a particular brand. Microblogging through services such as Twitter may be particularly effective for establishing and maintaining name recognition. Blogging is also a quick way to respond to brand-related complaints and maintain a positive focus around a brand.

Search Engine Optimization

Search Engine Optimization (SEO) is the use of keywords in a web site to increase its ranking and thus visibility in the organic, crawler-based listings of search engines. Search engines use a spider or a crawler to gather listings by automatically “crawling” the web. The spider follows links to web pages, makes copies of the pages, and stores them in the search engine’s index. Based on this data, the search engines then index the pages and rank the websites accordingly. Major search engines that index pages using spiders are Google,Yahoo, Bing, AOL, and Lycos.
Some methods to optimize a web page in search engines are:

  1. Using keywords in a domain name
  2. Strategic linking (quantity of links per page, target, and keywords in link text)
  3. Keywords used in headings, page titles, and image descriptions
  4. Title tags
  5. Meta description tags (not relevant for all search engines)

Internet Advertising

Internet advertising is a form of broadcasting and promotion of products, ideas, or services using the Internet to attract customers. A 2011 advertising industry survey found that 21 percent of Internet users consider online advertising to be the most relevant advertising system. Internet advertising has overtaken other traditional advertising media such as newspapers, magazines, and radio.[5] Internet advertising targets users interested in relevant keywords and displays a text or image ad next to search results or within social media.

Social Media Marketing

Social media marketing uses social media platforms to create and foster communities and relationships.  Social media marketing is focused on creating content that attracts attention and encourages readers to share content with their social networks. Social messages are effective because they come from a trusted, third-party source, rather than the brand itself.