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Value Capturing: Simple value creation for local businesses (Digital Marketing)

Discussion in 'Ideas, Needs, Concept Feedback' started by MakeItHappen, Dec 20, 2018.

  1. MakeItHappen
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    MakeItHappen Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Hey guys & gals,
    I would like to get your feedback on a digital marketing service for local business. I think the idea could really provide good value but I have a hard time seeing how the service could charge enough to be worthwhile ones time.

    Idea:
    Help local businesses to optimize there "Google My Business" listing to rank in the top 3 in the google search.
    A top 3 ranking gets your business shown right after the paid ads and above any organically ranking websites. So it's the best/highest organic visibility a local business can have.

    Challenge:
    Optimizing a "Google My Business" listing is very simple and everyone can do it. So the value comes mainly from informing businesses about the value in optimizing there listing.

    There is pretty much no repeat business and as the optimization can be done quite easy and fast there is also not a lot of money to be charged for it (given that businesses would even let you do the work instead of just doing it themselves once they know about the importance of it).

    Soft Proof: I advised and helped three local businesses / freelancers in my network to optimize their listings. All of them could see the value in optimizing there listing. There rankings did improve and they were happy.

    Value Capturing:
    I think there is a lot of value that can be provided to a lot of businesses but I think it's tough to capture some of the value in form of monetization.

    The ideas I had for monetization are as follows:
    - Create a little video course /consulting package with DIY advice + the option to hire you
    - Sell an optimization package -> you do all the hands-on work for them
     
    Dawid Paszko likes this.
  2. jcvlds
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    jcvlds JC Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    The things that comes to the top of my mind is to bundle it a long with other high value related services you can offer them. If you build more value into your package, then you can price accordingly and capture some of the value.

    As you said, I think JUST offering this one optimization may be a hard sell, but if you include it as part of a package with more related marketing services, then it may be easier to monetize it and capture some value for yourself


    Sent from my iPhone using Tapatalk
     
    MakeItHappen likes this.

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