Increase Revenue: Where Marketing Strategy Meets Digital Marketing Strategy
Venture Capital (VC): Management Supervisors or Revenue Enhancers:
There are many areas where institutional investors (VCs, funds, angels) can add value beyond funding and monitoring progress of their portfolio companies. Most institutional investors do not want to take an active role in the management of the enterprise, so their only recourse is to monitor results and provide some guidance on the direction of the company. However, TheBizGeeks believes there is another service these investors can provide that will help their portfolio companies succeed – revenue creation through digital marketing. Assisting, insisting and leading their portfolio companies to take full advantage of digital marketing including search engine optimization (SEO), social media, multi-media (YouTube and Podcasts), email marketing and reputation management are efficient, effective and non-intrusive ways to assist their portfolio companies beyond funding and periodic reviews of business progress. Frequently, these are areas where management intends to commit resources and attention, but they just can’t get around to it. Investors can help them help themselves and help your investment…the proverbial win-win. All behind the scenes. It does not intrude on management’s mandate to run the company and they will welcome the help. Here are some ideas for institutional investors and for those of you dealing with them:
1. SEO Keywords
Taking the time to identify keywords, long-tail, short-tail, etc. is a real pain. It takes time, quiet time. It requires someone who can take some keywords and expand up, down and sideways from those keywords. Most of the time management doesn’t have the time or patience to do this. But these keywords are critical to ranking well on the search engines. VCs should know these keywords before they invest in a company and they certainly should be able to transfer them to the search engines.
2. Search Engine Analytics
All of the search engine tools have analytical programs that can help a company identify who is visiting their website and what they are doing once they visit the site. Your portfolio companies, or you on their behalf, need to ensure that this data is being reviewed…thoroughly. You will be able to connect website activity to a successful promotion (email, advertising, etc.) or lack of activity to a failed promotion. VCs should be requesting search engine analytics from their portfolio companies. There is great data and information in these reports.
3. Email Marketing
Yes, email in YOUR Inbox is a pain…but email in your PROSPECT’s Inbox is golden. Email is the single most cost-effective means to communicate a message. Used correctly with A/B testing, variable Subject Lines, a targeted mailing list all coupled with good content dripped to your prospects over time (ten messages) can deliver strong results. VCs can and should execute this campaign for their portfolio companies.
Gone are the days when you can publish a ten page report and expect your audience to read it. You have 30 seconds to two minutes to deliver your message…audio, video, both. YouTube, Podcasts are the future. If you don’t get on board with this, the market will board you…water board you!!
The keywords are: Who, What, Where, When, How, Why, Best, Top, Review. You need to make sure your portfolio company appears on the search engines when one or more of these words precede the product they offer. Download pdfAll of these have to be integrated and embedded in the company website in order to get the attention of the search engines.
Effective use of traditional advertising including public relations, print media, etc.
Effective use of internet digital marketing including search engine optimization (SEO), social media, blogging, multi-media asset syndication and online reputation management to attract, pull, and contact new customers.
Demonstrate to investors you have a thorough marketing plan that shows how and where you will generate revenues and from which products.
How will you find and capture leads? How and how long will it take to convert them to customers? How will you track them? How will you advance them in the sales cycle? And how much will it cost to advance them?
Who is your competition? Who and what are your substitutes? An objective analysis of this is critical. Any business that claims they have no competition is wrong. Remember direct competitors (rivals) and alternative products (substitutes) are your competition.