When you think of the Web 2.0 phenomenon, what words come to mind? Transparency, engagement, conversation, guru, apps, social networking, social media, social marketing… any of these sound familiar? Web 2.0 lingo has saturated articles, blog posts, tweets, and conversations across the web, but what does it all mean? And more importantly, how does it apply to the health and growth of your business? Thankfully, the Web 2.0 Expo in San Francisco helped to answer these questions in an applicable way, since it was “focused on ideas and solutions that will translate into real value and ultimately sales” (Bub.blicio.us). Here are a few valuable takeaways from the event:

1. Strategy is Paramount.

When running a business, it is smart to continually educate yourself on the latest trends and techniques that are being used in your sphere and beyond. However, this should not be confused with chasing after every new application or fad that comes along. Just because all the popular kids (aka. the “gurus” and “experts”) are playing with it, doesn’t mean that it’s right for your business. Before investing time and effort into this social network or that marketing technique, think for a minute about the old adage that wisely reminds us “time is money”. Research, establish goals, and define a strategy. Follow through with things that makes sense for your business and “eliminate all things that don’t contribute to progress”. See more on this topic at The Lean Startup Blog and here on Twitter.

2. Sales in Web 2.0 is Okay.

With the gospel of transparency and open communication spreading across the social web like wildfire, sales seem to have taken a back seat. Without a doubt, integrity, honesty, and conversation are important in business. But what about actually doing business? In the session, “S Factor: Why Sales Shouldn’t Be a Dirty Word in Web 2.0“, Alastair Mitchell from Huddle.net explains that Web 2.0 has not replaced the need for a sales force, saying, “Web 2.0 can be used to more quickly build your user base, but not to replace a sales presence”. Perhaps this means separating your social networking efforts from your sales efforts, perhaps not. Whichever is the case for your business, sales need not be something you’re ashamed of. See the whole recap on this topic at the Huddle Blog.

3. Metrics are Vital for Success.

With a session title of “Become a Web 2.0 Metrics Jedi” and an opening slide photo of Yoda in pirate gear, it’s a wonder that anyone attended any other track that hour, and it did not disappoint. Do you create targeted landing pages, optimize your website for search engine success, and design your site for optimal attraction and conversion? If so, you’re on the right track… maybe. You can’t know for certain unless you have set goals and are analyzing the data on a regular basis. How many site visitors are clicking the “sign up” button on the main page compared with the one on the FAQ page? How many visitors are converting to paid customers? At which point in the process are they doing that? Is there a page on your website that has a much higher bounce rate than the rest? These questions will help you understand why you may or may not be reaching your goals, and having the systems in place to answer them is vital. Visit the 500 Hats Blog for a detailed slideshow and recap.

4. Online Advertising is Not Dead.

It is no secret that online advertising is becoming increasingly important as more people are searching and shopping online everyday. The argument lies in which type of advertising is most effective to online consumers and profitable to advertisers. With “ad blindness” affecting most online searchers (a term which describes the tendency of internet searchers to instinctively ignore banner and display ads), it was no surprise to hear that search type advertising is trending way up, just as CPM and CPC advertising is trending way down (JP Morgan 2008 Internet Investment Guide). This was music to our ears, since our ClassifiedFlyerAds service provides targeted search ads that are syndicated across the web. The session (titled “From AD-versity Comes Opportunity”) also predicted that a new type of advertising would surface in 2009-10 that would “fill the gap” between dispay ads and search ads. We’ll stay tuned.

5. More is Not Always Better.

With a theme of “The Power of Less”, the Web 2.0 Expo aimed to convince internet users that more apps, more features, more blog posts, more pictures, more video, more anything, is not always better. Don’t launch a new feature just to launch a new feature; make sure it adds value and solves a problem. On that note, the Lean Startup Session suggested that we ask ourselves these two questions before adding “more”: 1) “What problem are we solving for the customer?”, and 2) “How are we solving it?”. If you cannot answer these questions, perhaps it is not time to add that great new thing after all.

With courses covering four days and eight different topics, there was certainly no shortage of valuable information for businesses at the San Francisco Web 2.0 Expo, much more in fact, than we were able to take in on our own. Check out the recap page, twitter stream, and follow-up news coverage for all of the mind dizzying Web 2.0 advice you can handle.

Once upon a time, a long long time ago, you could get a decent response just from advertising your business in the local paper, sending out promotional ads via direct mail, or buying a spot in the yellow pages. No more. Today, hundreds of millions of people are searching the internet for information, products, and services. Newspaper circulation is way down, making those ads less powerful, promotional direct mail has become “junk mail”, and advertising in the yellow pages… wait, what’s that? Google is the new yellow pages, and the internet is the new source for gathering information, communicating, and buying stuff. Are you effectively advertising your business online?

A recent study by Nielsen Media Research found that more than 85% of the world’s population has shopped online, up 40% from just two years earlier. Combine this statistic with the fact that 87% of home buyers search for property online, and that 3 out of 4 car buyers also search online, and it’s hard to ignore the fact that people are relying on the internet for more reason than just to surf; they’re also there to buy. If you own or run a business – whether freelance, real estate, automotive sales, product sales, service provider, or anything else – then you need to be marketing online.

So, how do you advertise your business online? The options available to you are many, and if you are just getting your feet wet in this arena then things can be confusing and overwhelming. Do your market research due-diligence, consumers are not going to leave online shopping behind any time soon.  Here are a few options to get you started:

1. Website – An effective website is much more than a static placeholder. Take tips from articles like “10 Steps to Measuring Web Site Success” and the Google Blog.
2. Blog – Blogging can be very effective if done right. Refer to advice from successful bloggers like Chris Brogan, CopyBlogger, the Online Marketing Blog, and others.
3. Post Targeted Ads – These types of ads can create a broader online presence for your business and be targeted to your market.
4. Google AdWords – Create online ads based on a set of keywords and set your own budget.
5. Social Networking – This one can be tricky, and many people use it entirely the wrong way. However, if managed successfully, social networking can be a great way to build your brand and presence online. To start in the social networking arena (see Facebook, Twitter, LinkedIn), I suggest you do much more watching and listening in the beginning to get a feel for how it is done successfully in your market. Find and connect with others in your industry who have been successful, and define a strategy with measurable goals.

The most important thing about online advertising for your business is to start. Have questions on any of these advertising methods? Disagree with me? Have another to add? Post your 2 cents in the comment section below.

Photo credit: jaaron

Online advertising for your brand has never been more important, and it is not as important today as it will be tomorrow. With reports continuing to show record revenue declines for newspapers and magazines, entire websites dedicated to the “death watch”, and fewer consumers than ever using print media as their main source for information, it is time to re-evaluate your advertising plan if print media is your only outlet. In addition, recent data shows that 3 out of every 4 adults use the internet, with 80% of them shopping online for products and services. It is now essential to have a plan for targeted online promotion.

Please don’t read that opening paragraph and start blindly buying ad spots across the internet, or start running pay-per-click campaigns without doing research. This type of action will most likely be a waste of your time and money. Instead, make an effort to research your target audience using online tools available, such as the Google AdWords Keyword Tool or the inbound marketing resources at HubSpot. Whatever time and effort it takes to do the research legwork will soon make up for itself many times over by providing valuable data for your target market, enabling you to effectively advertise your brand and business.

When you’re well informed and ready to start your online marketing campaign, there are many ways to make it a success. From blogging, to social networks, to targeted online ads via Google or ClassifiedFlyerAds, you can be confident in knowing that your online promotional efforts will yield higher quality results than print advertising has provided in a very long time. A closing note of caution; there are lots of ways to do online advertising and promotion the wrong way (i.e. spam, non-targeted, etc.) that will end up costing you your valuable time, money, and possibly even reputation. It is your duty and responsibility as a marketer or business owner to continually seek out knowledge and information that will make your online advertising a success.

Photo credit: Marshall Flickman