If you haven't yet ventured into online marketing or social networking, check out what Gary Vaynerchuk has to say on the topic. Highlighted in a New York Times article, Vaynerchuk equates tools like Twitter and Facebook with free online marketing. He didn't start out as a marketing guru ten years ago but he's learned plenty about online promotion while he helped grow his family business to $60 million in annual sales.
Here are the results of one of Vaynerchuk's recent marketing campaigns.
- Direct Mail — Cost $15,000 New Customers — 200
- Billboard — Cost $7,500 New Customers — 300
- Twitter — Cost $0 New Customers — 1,800
It's this kind of result that has catapulted Vaynerchuk into a new arena, online marketing consultant. Vaynerchuk points out that "content is king" when businesses reach out to consumers through social networking. And don't worry about being an expert. Making a personal and heartfelt connection and spending time on social networking channels is certain to bring new customers to retailers, whether they're operating online or at the corner market. The other important piece of Vaynerchuk's message is that, for now, social networking tools don't require a cash outlay. It's the rare business that can pass up the chance at free marketing.[Source: Rosen, Jan. Be It Twittering or Blogging, It's All About Marketing, New York Times, 3.12.09]