A recent Business Insider article featured an image from a recent Buddy Media event, depicting just how out of hand the social media space has become.
As a small business owner, how does one hope to stay on top of the current tools, let alone the daily changes of importance?
What about something as simple as "where should I put my online advertising dollars?" Did you know the average click-through rate for an internet ad is .1 percent? Facebook's results - 1/2 that, .05%. How about Google Ad Sense? Quadruple the web average, .4% click-through. Check out this infographic, the source of my statistics. Google ads are 8 times more effective than Facebook!
The truth is, most businesses don't need to understand all of this. They don't need all the stats, but they do need to understand their own analytics. How much am I spending on online ads? How many are successful? What's my return when they work? Which ads are most effective? To what messages or campaigns are my target audience responding?
This sounds intimidating, but all any small business needs is a little assistance to help keep it simple. At some point, perhaps full-time help is warranted, but until revenues reach $1 MM, some part-time help should give you just the kick you need - on your way to that $1 million, of course.