Entrepreneurship and growing businesses

Michael Field was recently interviewed by The Profitalist for their Entrepreneur Insider Series. He shares his views on the future of marketing consulting industry, entrepreneurship and growing the businesses.

Below is an excerpt. The full article can be found at: http://www.profitalist.com/entrepreneur-insider-series-michael-field-michael-field-strategic-marketing-consultants/

Q: Where do you see your industry heading in the next 5 years?

A: The marketing industry is benefitting enormously from technology and globalisation. One positive impact is that we can now source talent from a global talent pool and increase our productivity by optimising workflow across time zones.

I see an ever-increasing reliance on technology, increased in-house marketing capabilities and talent development (especially in business development, account and relationship management) as key drivers for success in the future.

Q: What do you plan on doing/changing in order to keep growing in this time period?

A: Our business has evolved from a single person consultancy to a fully integrated strategic marketing consultancy, advertising agency, and PR, media and communications consultancy.

To remain competitive, we need to be at the forefront of these changes, ensuring that we are taking our clients with us on the journey. We are more focused on developing our client attraction and retention strategies while simultaneously developing global reach and expertise in our talent pool.

Q: What one piece of advice would you give to someone just starting out in your industry and wanting to make it to the top?

A: The one piece of advice I would offer is this: Ask yourself if you are truly committed to doing this for the long haul.

This is not a ‘get-rich-quick’ industry. It is built on long-term, mutually beneficial trust relationships. Relationships take time to build, cultivate and harvest. If you are going to set up a marketing or strategy consulting business, it is a lifestyle choice, which has multiple demands on you and your time. The rewards are not all financial. Much of the rewards for the first several years are simply surviving, winning the next deal, building strong relationships and delivering high quality work. Ask yourself if you are really up for it!

Article link: http://www.profitalist.com/entrepreneur-insider-series-michael-field-michael-field-strategic-marketing-consultants/

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.

What is Search Engine Marketing?

Search Engine Marketing (SEM) is the process of improving the ranking and increasing the visibility of a website in a search engine’s paid search results. This is different from Search Engine Optimisation (SEO) which is improving the ranking and increasing the visibility of a website in a search engine’s natural (organic) search results.

SEM can include paid keywords such as Google AdWords and other forms of direct payment to search engines and other firms to ensure high rankings for selected keywords.

Here is a quick checklist to consider before you commence an SEM campaign:

  • Do we have the expertise to manage an SEM program in-house?
  • If we are going to outsource SEM, how will we evaluate the supplier?
  • What keywords are important to us and are most likely to produce the highest quality traffic and conversions?
  • How will we cull and distill the long list of potential keywords into a concise, potent and manageable shortlist?
  • What are the current search frequency, demand, competition, pricing and value of our preferred keywords?
  • How will we manage the keyword bidding and budget?
  • Who will analyse and report on the effectiveness of our campaign?
  • Who will monitor and adjust the campaign as keyword effectiveness changes over time?
  • How will we track traffic and evaluate the success of the campaign?

What would you add to this list?

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.

What is Search Engine Optimisation?

Search Engine Optimisation (SEO) is the process of improving the ranking and increasing the visibility of a website in a search engine’s natural (organic) search results. This is different from Search Engine Marketing (SEM) which is paying for your website to rank on the first page for prescribed keywords.

SEO techniques can be classified into two broad categories:

White Hat

These are techniques that search engines recommend as part of good design and produce meaningful search results for consumers. These techniques include keyword rich copy, hyperlinks and user-friendly navigation. These techniques are Google-compliant and produce results based on relevance.

Black Hat

These are techniques that are designed to ‘game the system’ in the hope of producing a high page rank regardless of the search term. These techniques include link stuffing, keyword cloaking and hidden pages. These techniques are illegal/non-Google compliant and will result in the offending website being black-listed by Google – meaning your website would be lucky to be found on page *9,376 on your preferred search terms.

* Not an actual statistic but indicative of the severity of the punishment meted out by Google

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.