Well, the main business has really shot off the charts, with growth currently trending in at about 70% y-o-y. Which is damn good, considering this is year 3 and after the XMas season,where we normally expect a drop-off. We’ll have to see how February holds up.
Our second venture is currently on-hold, while we wait for our merchant processor to finish with the application submission. Once that’s done, we’ll be ready to heavily market it. It’s looking to do well even now, with minimal marketing and using only PayPal we’ve managed a few sales already.
That sadly puts the consulting business back on the backburner. Too much going on on the front end to deal with hunting down clients.
Sometimes, it’s worth paying for expertise and experience. Having worked in the industry for a while, you gather not only experience but contacts.
Here’s a real world example:
Recently, for the new business, we had to create a new logo. That’s pretty common theme, especially if you’re starting out. Using some contacts we had, we got it done within a week and 4 round of e-mail exchanges. Total cost? US$50 and probably 5 hours.
An acquaintance recently undertook to redo his logo as well. He went direct to an agency which proceeded to put together his new logo for him. Great logo, spot-on correct in 2 tries. Cost? CAD$1,500.
That’s not to say he was cheated – different levels of expertise in the designer / agencies part, different amount of time and dedication and the desired quality of the finished product all play a part. Our logo is good – his is great. Then again, we only wanted / needed a good logo.
At the end of the day, the trade off is something the client needs to decide on – and then inform us. From there, it’s simple enough to judge the correct parties to employ.
I’m a Marketing Generalist. Through a variety of past jobs and experiences, I’ve had experience in both offline and online marketing, in both above and below the fold programs. While the last few years have been focused on e-commerce companies, even Internet companies can benefit from an offline presence.
This experience is one of the reasons why I’m such a good fit for small & medium businesses and as a consultant – I know a little about most aspects of marketing and can put together plans that maximise the often limited budget available. And since I’m familiar with most areas, I’m not going to push you down a particular path just because that’s what I’m good at.
So when don’t you want a generalist? When you already have a good marketing plan and know what you want and have a decent budget. Or put simply, when you can afford to hire the specialist to work in his area, and only his area.
If you’re going to spend $100,000 on a single advertising campaign, it certainly behooves you to hire a good advertising agency. They have the knowledge, ability and expertise to get you the best return on your money possible for that campaign.
On the other hand, if you only have $100,000 for your entire budget and need to split it across all your marketing initiatives (SEO, SEM, offline advertising, Public Relations, etc.) then a generalist might just be what you’re looking for. We won’t suck up your entire budget in one area of focus and you’ll be able to get what you need before the law of diminishing returns kick in.
Of course, concentration is also important,and we’ll cover that in another post.
Unfortunately, editing this site further has taken a backseat to actual work. Currently working on the marketing plan for Collins Harper and launching a new Magento site.
Between those two factors, updating this site has got to take a break while we get to work finishing up this area. Always seems that way really, we find some time to update the site and then suddenly, we’re snowed under again.
PDB Sales is a Vancouver-based marketing company specialising in small and medium businesses and E-commerce marketing.
If you’re a Small & Medium Business that requires marketing strategy consulting or training or intend to explore E-commerce marketing, you will want to talk to us.
Our small size provides great flexibility and highly competitive rates, while our personal experience at running e-commerce and small and medium businesses allows us to bring real, effective marketing strategies and tactics to your business.