Growing your business?
If so, you need to know about the Bathtub Theory – especially if you’re having trouble keeping up with the fast-changing digital-marketing landscape.
Introducing the Bathtub Theory.
Your bath at home is pretty basic, right?
Here are the main components:
- The bathtub (for holding water)
- The tap (for adding water)
- The plug (for releasing water)
Why your business is like a bathtub:
Your business is like a bathtub, because
- Your customers are the water
- Your advertising is the tap
- And the plug is how you convert and retain customers
The bathtub approach to digital marketing.
If you’re like many growing businesses, you’ll be busy trying to turn on the tap to introduce new customers into your bath – in a digital sense, this could be trying google adwords, or launching into social media.
But before you turn on the tap, is the plug in?
For example, if you have an Adwords campaign sending people to a page on your website – is that page doing the best job of converting those visitors into sales?
And if you’re promoting your website, does it do a good job of explaining your business – to the point where visitors can take the next action towards doing business with you?
Secure the plug first.
Yes, before using tools like google adwords and social media – make sure the place you’re sending people to (eg, your website) does the best job of converting those visitors into business.
In other words, don’t waste water.
I think that Bathtub Theory provides a simple way of thinking about customer acquisition and conversion, in what is a complex digital marketing world.
What do you think?