Ok, it's not MY company although a company I worked for and it proves that Marketing can make or break your entire company, no matter what you're selling...
I'll explain exactly what we were selling in a minute, but let me start off by saying we were doing 10 million a year with no profits. Yes, we were in massive debt. We had one website up selling our products and we could only bring in 10 million a year, pretty sad. The company had 15 people or so in it before it blew up...
In 2001 the company ended up making the marketing director the CEO of the company and what a great move that was. This certain marketing director is known for start up companies and received 3 Stevie Business Awards in 2006.
Best CEO in country, Best Turnaround Company, and Best Overall Business. It only took him 5 years fix the struggling business from 15 employees, 10 million revenue a year and in debt, with only one 1 website - to 8-12 websites, around 200 employees (also did a $60 million deal in 06 too- biggest internet deal that year and probably more years than that), huge warehouse, and 100 million in revenue and no longer in debt.
Our flagship website was doing 6.5 million a month in revenue.
Thanks to the marketing director, this company survived and is now thriving in business and is doing 10x what it was since he became CEO. Around Xmas time we would push out over 800k of products out of our warehouse- not including drop shippers.
Its possible you can be making 10x's as much as now just by improving your marketing. He used banner advertising and affiliates to build this company- now they rely on review sites, SEO, and PPC for the most part.
The CEO that helped this company is already gone and is helping another company by now.. I think hes with a divison of Ecko Clothing possibly.
The point of this thread? To stress the fact how important marketing is as well as it is important to have a plan when getting into business online. Many people want to know "how to make money" with no real business plan.
Well, you need a plan and it wouldn't be bad to even create a business plan so you have something to follow by. Remember, online money making is still a business! You might see success quicker and more of it if you have a good plan!
So, by now you're probably wondering what we were selling. It was a simple business of selling luxury home products over the internet. We are(or were) the #2 retailer of home goods online right next to Home Depot. Yes, we sell more online than Lowe's, but obviously not as big as them.
Who was our target market? Rich People. I've seen people spend over 30k just on a kitchen/dinner sets and had to wait over a year to ever see it. We knew our target market and we provided them with what they wanted for a fair price.
I know we are all marketers and as marketers we are the life blood of the business (imo), so you must take this like a serious business.