Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably. In pre-modern economies, the predominance of small enterprise and there was monopoly and there was no recognition of marketing as a separate field of expertise. Marketing emerged as a separate technical field only in the late 19th century.
In the present scenario, the changing needs and wants or taste and preferences among the customers leads to paradigm shift in marketing. This is due to changing attitude and behaviour of the customers, globalization, increasing purchasing power and changing life style of the customers.
Causes for Marketing in Transition
• Globalization – Globalization has brought changes in technology, quality, service, work culture and undoubtedly fierce competition.
• Emerging Middle-Class Consumers – the increasing Purchasing Power of the Middle-Class consumers creates the MNC’s to seek opportunity in the emerging market.
• Changing Lifestyle and attitude of Consumers – since there is a change in the customers lifestyle due to western influence the customer’s needs and expectations has increased.
• Increasing literacy rate
• Children influence in buying decision making
• Changing perspective of rural marketing in India
• Increasing penetration of mass media
• Consumer awareness
• Information revolution
• An Enormous growth in international business
Formation of marketing concepts and practices
• 1905 – the University of Pennsylvania offered a course in “The Marketing of Products”
• 1908 – Harvard Business School opens
• 1940s – electronic computers developed
• 1980s – emergence of relationship marketing
• 1984 – introduction of guerrilla marketing
• 1995-2001 – the Dot-com bubble temporarily re-defines the future of marketing
• 1996 – identification of viral marketing
Emerging New Marketing Practices
Due to increased competition the companies had necessity to enhance additional features to their products to promote the sale of their products. Many companies followed different marketing practices to attract their customers.
Winning concepts and marketing practices are
• Relationship marketing
• Viral Marketing
• Sachet Marketing
• Green marketing
• Rural marketing
• Destination marketing
• Online marketing
• Cause related marketing
MARKETING IN TRANSITION
A transition from a product oriented approach to a resource oriented approach
Transaction marketing Relationship marketing
Focus on Obtaining new customers Customer retention
Orientation to Service features Customer benefits
Timescale shorts long
Customer service Little emphasis High emphasis
Customer commitment Limited High
Customer contact Limited High
Primarily an operations concern
The concern to all
Nowadays many companies are practicing the new marketing concepts and practices. Some of the examples are as follows.
The domain of relationship marketing extends into many areas of marketing and strategic decision making. In the phenomenon of cooperation and collaboration with customers becomes the dominant paradigm of marketing practices. Relationship marketing has the potential to emerge as the predominance perspective in the paradigm of marketing.
In the fierce competitive market customer relationship management is emerging as the core marketing activity in companies. For that to maintain companies practices customer retention strategies and having good relation with the customers.
HSBC bank sent greeting cards to the customers on their birthdays to have good relationship
Whirlpool do very good post sale service to the customers.
In India, Unilever successfully markets Sunsil and Lux shampoo sachets sold in units of 2-4 dollar cents; Clinic All Clear anti-dandruff shampoo sachets at 2.5 rupees each; and 16 cent Rexona deodorant sticks.
Idhayam gingili oil available for Rs 4/- package.
To capture the BOTTOM OF PYRAMID also
It refers to the process of selling products and/or services based on their environmental benefits. Such a product or service may be environmentally friendly in itself or produced and/or packaged in an environmentally friendly way.
Green marketing can be a very powerful marketing strategy though when it’s done right. Nowadays all companies are trying to produce eco-friendly products. And many companies have got ISO 14001 awards and strive to get.
Examples are ITC products, in the note books, it is environment friendly notebook.
Changing Perspective Of Rural Marketing In India
The great Indian rural market is characterized by huge untapped potential and opportunities. It is estimated that almost 70% of Indian consumers live in rural areas, which generate almost half of the national income. The number of middle income households in rural India is growing to above 111 million by 2007. There are almost twice as many lower middle income households in rural areas as in the urban areas.
A large number of corporate are excited about tapping the potential of rural areas. The recent entry of some corporate like Bharti, ITC, DCM shriram consolidated, EID parry and Amul etc. proved their fascination towards this sector. These corporates tried to develop successful model of integrating information-technology in rural transformation in a profitable way.
The tamilnadu based EID parry has developed an agro-portal [http://www.indiaagrline.com] to cater the specific needs of the rural farming community. It is an endeavor to catalyze e-commerce in agricultural and non-farms products by offering a network of partnerships. The content is available in local tamil language.
The Anand, Gurajat based Amuls DISK dairy information system KIOSK project is yet another milestone of integrating corporate sector and information technology. These kiosk serve valuable information related to dairying, breeding and rearing cattle .
ITC e-choupal has emerged as one of the most ambitious project integrating information technology and corporate sector for rural transformation. ITC e-choupal network has already covered approximately 3.1 million farmers through 5050 choupal in 29,500 villages. The company has ambitious plan to reach 1,00,000 villages covering 10 million farmers by 2010 with whopping approximately 1,000 crore. It is opening 5-6 e-choupals everyday in six different states of India.
Pepsi rural marketing
Pepsi company India has entered into rural market by having joint programme with the Punjab agriculture university in ludiana and Punjab agro industries corporation in chandigarh. The programme focuses on evolving agricultural practices to help Punjab farmers produce crops that would make Indian products internationally competitive. To cultivate a range of sweet oranges for its Tropicana range.
Apart from that, they have given advertisement to attract the rural people with the celebrity of Amitabh bachchan and star cricketer sachin tendulkar.
Coca-cola rural marketing
With the help of Isha foundation coca-cola released the CD of the coca-cola tamil CSR film “NESA KARANGAL” and also acknowledged and appreciated coca-cola’s efforts in promoting social cohesiveness and sportsmanship with an aim to transform rural lives,
Advertisements to attract the rural customers are maasa-actress Rani Mukherji acted in this advertisement and says “masti ka chataka” , Satis shah’s maaza ad is also based on village background.
Aamir khan acted in the advertisement which showcases a beautiful village background with the punch line “thanda ka matlab cocacola” and also ad title “soni kudi” targeted the villagers.
Destination marketing is all about selling the experience. To sell the experience is far more difficult. In destination marketing media plays a major role . word of mouth plays a vital role in destination marketing . people love to discuss their tour, infact they feel proud in telling their experiences, they bring gifts for their close ones they show their photographs and purchases to their relatives and neighbours
Eg . kerala has implemented the destination marketing very successfully and emerged as the most acclaimed tourist destination of the country in the recent past. Because of this destination marketing kerala has achieved remarkable success in generating revenue and employment in state through tourism. It is estimated nearly $100 million which generate the employment opportunity in kerala.
In the recent past all the successful stories of destination marketing that is Malaysia, Goa, Kerala, Singapore etc.
Emergence of theme parks such as ADHISAYAM, MGM , BLACK THUNDER,- all are examples of destination marketing.
Transition from kirana stores to modern organized retail outlets:
Modern retailing in India is growing rapidly. Although it commands just 3% of the overall retail market share, changing demographics and consumer taste are driving the growth of more than 30% of the modern retail formats. It is expected to grow another 9% in the year of 2010. India is more attractive than ever to global retailers.
Major players in India are:
Pantaloon retail India limited or future group, RPG group, Tata group, k.Raheja corp. group of companies, RRL (Reliance retail limited), A.B.Birla group, Gati, Calvin klein,murjani group, Disney artist stores, Vishal group (vishal megamart)
Foreign players in India are
Wal-mart stores, Carrefour, Tesco, Rosy blue group, LVMH Group, Metro
This transition makes the marketing in transition
Transition in Segmentation:
Transition from demographic based segmentation to psychographic based segmentation . since 1950’s market segmentation has been referred to as a process of identifying groups of individuals who are similar in attitudes etc. and the segmentation is of demographic segmentation . after 1970s it is psychographic segmentation , know about the customer taste and preferences and collect at the real time point of purchase data. And now it is need based segmentation is using for different marketing functions like advertising and new product development .
Cause related marketing
Cause related marketing is practiced on the rationale that consumers are human beings are kind hearted. The customer pay the amount with some satisfaction that the specific amount is to for relevant social cause.
A sanitary napkin brand “whisper” announced a contribution o Re.1 on every pack of sales for blind relief society. This helps in improving whisper’s market share.
HLL announced a contribution of Rs 0.50 on the sale of each of its brand of lifebuoy brand soap to a diarrhea project.
Co-branding is when two companies form an alliance to work together, creating marketing synergy. This co-branding is innovative in the marketing practices.
• Andhra bank and ICFAI university are using the strategy of co-branding.
• Andhra bank and Hindustan petroleum also launched their co-branded card
• SBI card and LG electronics India launched the LG-SBI card. This is the country’s first co-branded credit card for the consumer appliances industry and can be used at more than 2 lakh outlets in India.
• Idea cellular and HDFC Bank launched two co-branded cards providing multiple benefits to customers of both.
• Pillsbury Brownies with Nestle Chocolate
• Dell Computers with Intel Processors
Internet marketing, also referred to as online marketing, Internet advertising, or eMarketing, is the marketing of products or services over the Internet. Internet marketing also includes management of digital customer data and electronic customer relationship management (E-CRM) systems.
Samsung marketing practices
Viral marketing , interactive marketing
Samsung created its “Fun Club” as a way to engage with Samsung mobile phone owners to help them get the most from their phones. Samsung provides content such as games, ringers, and wallpapers that are designed specifically for Samsung mobile phone models. Hearing about new mobile content is one of the benefits of joining the “Fun Club.” Samsung was looking for a new way to use rich multimedia to promote the game, Skipping Stone, to its customers. Samsung engaged Enpocket to create a mobile marketing campaign promoting Skipping Stone using the graphically rich MMS channel.
In the present competitive scenario, there should be transition in marketing practices in order to survive in the market. Since “change in the only thing which never change” in the world, companies have to adapt themselves according to the changing environment. The best emerging practices in the corporate world is win-win concept to be the leader in the market.
II MBA (2007-2009) BATCH
RL INSTITUTE OF MANAGEMENT STUDIES.
Article Source: http://EzineArticles.com/expert/Archana_Amalarajan/87450
Article Source: http://EzineArticles.com/1612165
As a VP of marketing, Director of marketing, or sales executive you are well aware that even the best-planned marketing efforts can fail, and thorny economic times have only compounded the aggravation. You’ve been strained to cut your marketing expenditures significantly at the same time you’re expected to accomplish more.
This white paper introduces the fundamentals of running marketing programs efficiently and with the highest possible ROI, using not only a creative, but also an analytical approach to direct response marketing that is impossible without marketing automation – a primary support system for any successful marketing campaign. The technology-driven process, in conjunction with a preferred-by-marketers intuitive process, will enable you to tightly interweave your marketing and sales programs and, as a result, realize a positive return from your limited marketing resources.
Nurturing customer loyalty
Your current customers can be your best future customers, as well as your best sales reps. Satisfied customers will bring you many referrals, and as you might well know, a lead that comes from a customer referral is the one that your sales team will close faster and with higher a rate of probability, because your customer already made a great deal of effort to pre-sell the referred prospects.
Growing through referrals
If you have not developed a well-managed referral program for your customers – and any other partners that want do get into business with you and become a free agent that is paid commissions for referrals – you are losing a great opportunity for organic growth.
Consider this example:
Company ABC is a B2B service company with about 500 current customers, and the average annual sales per customer is $20,000, which generates $10,000,000 in annual sales.
Your annual advertising budget is 1% of the revenue ($100,000). As we all know, the majority of it is usually spent on campaigns that bring modest results, in the hope of discovering winning advertising venues – which become even harder with competition trying to get over the hump in this economical downturn.
Your company has been growing at a 10% rate annually, slowly but surely, but now the growth starts declining, and it is forecasted to be down 5% this year, with the same marketing expenditure (and even more hassling that your marketing and sales team has to get through).
Now imagine that you decided to monetize the connections of your customers. You can ask for a favor and a few will return. But you don’t want random single referrals – you want to get bombarded with pre-sold prospects who will take less than average time to close. Wouldn’t that be a marketing and sales paradise?
Welcome to paradise
Let’s imagine that you designed a customer referral program and offered a 10% commission to be paid as a result of each referral that converted into a paid customer.
Let’s assume that 50% of your customers signed up for your referral program, but only 50% of those customers actually refer paying prospects on a regular basis – that brings you 125 new sales a month.
Now do the math:
500 customers x 50% x50% = 125 customer referrals per month
125 referrals/month x 12 months x $20,000 per sale = $30,000,000/yr
$30M – 10% commission = $27M in new business
As you can see, your next year’s revenue will be $37,000,000 instead of $10,000,000, and your company growth rate now is 370% versus the forecasted -5%.
Developing the strategy and the process management system
You liked the math, and now you are ready to jump in and get it done, right?
Do you have a system to manage hundreds of referral partners? You probably don’t have the tools in place for a successful execution of the program. Are you planning to do it intuitively and manually?
Unless you have a proper structure, along with the necessary processes and technology to measure your success, you cannot execute your partnership programs properly.
That’s why you need to automate your marketing processes, and ideally you need to hire a marketing company that will design, automate, and market the program for you – and charge affordable rates.
Costs of marketing automation and campaign execution
How much do you think it would cost you to invest in a program that brings you millions of dollars of additional sales? Would $100,000 be the right number? Maybe, but it drastically exceeds the limits of
your existing marketing budget.
But the good news is that right now a direct response marketing company with established processes, a proven framework, and the right automation tools can get it all done for you in few weeks – for $10,000, or less.
Integrated marketing versus task-based marketing
Prior to using our solutions, for many of our clients, “marketing” was a series of isolated tasks – but from a sales point of view, selling is a coherent process. Task-based marketing can often fail because, at its core, it doesn’t help to commence a dialogue that a salesperson can bring to closure.
Test before investing
With the proper tools in place, now you can conduct formal tests of each marketing idea, collateral piece, and message to get the best performing tactics. No tests should be done manually because the necessary sampling size is prohibitively large.
The numbers game
Without proper metrics, marketers that rely blindly on an intuitive approach don’t have the tools to measure their success, and duplicate it in other programs.
Creativity and analysis have to go hand in hand. But proper analysis of a number of variables cannot be done manually. Tracking systems for both success and failure, and easy tools to analyze the elements that affected the result, have to be integrated and reflect the company’s objectives. Therefore few out-of-the box software packages for different purposes (such as campaign management, affiliate scripts, Google AdWords integration, and others) might not necessarily be the best solution for your company because it will require quite a bit of integration effort and maintenance resources.
A credible marketing service provider will not only be able to consult with you on the most suitable solution, but also implement it and run the campaigns on your behalf, during the learning phase while your marketing team is getting familiarized with the program.
The benefits of overall marketing automation
Through the use of a database, marketing automation enables you to learn – in depth – about your prospects’ and partners’ behavior, along with the decision making process and variables that influence it. It allows you to automate communication processes and maintain relationships electronically.
Better-organized sales and marketing processes.
Superior customer retention.
A consolidated view of your customer and lead base.
Better lead qualification and retention.
Higher return on sales force and customer support technology investment.
Higher marketing ROI.
Better tracking capability.
A better platform for making marketing and sales decisions.
Which translates to:
Reduced operational costs.
Reduced marketing expenditure.
Marketing automation doesn’t just link marketing with sales – it helps marketing drive sales.
What you can achieve with the right marketing automation technology
SalesAnual will help you to improve your response rates and boost the revenues from your marketing efforts. We offer you the ability to easily manage sophisticated, timely, personalized customer communication strategies. Built specifically to meet the needs of key members of the marketing process, our product will provide comprehensive data management, campaign management, and advanced customer analytics in one integrated, easy-to-use solution.
Marketing campaign management
Marketing campaign management is easy with with our product. Through a single application, you can effectively plan your marketing spend, manage all your initiatives and campaigns, and analyze performance and results.
Our product helps you create targeted campaigns by segmenting your audience based on attributes such as demographics or product interest, and then send specific messages and offers for each group. You will have the ability to easily add contacts and leads to lists right from within campaigns.
Our system is designed to simplify ABC (split) testing. You can track, analyze, and optimize multiple campaigns such as on-line marketing and telemarketing. It will also allow you to analyze and optimize other campaigns such as trade shows, direct mail, advertising, and promotions, so that all marketing efforts are focused on the most effective campaigns.
ABC tests are typically conducted to determine which version or elements of advertising materials are helping the performance of the campaign. ABC tests dramatically challenge the assumptions that marketers and company executives may have about the best way to design a campaign or collateral piece. The automated functionality also enables you to solve conflicts between marketing and management.
While ABC testing typically applies to on-line adverting, we can build your system around a repetitive test process for all media, so it enables you to test Web pages, advertising copy, telemarketing scripts, e-mail messages, newsletter content and layout, and so on.
Testing yields the most valuable results only when the tests are conducted repeatedly; therefore efficient ABC testing is impossible without full automation of the test process. This is a key advantage of the SalesAnnual system.
Our software can create an “ABC test winners” table where all of the best advertising items will be stored. Each record provides statistics, upon which every new marketing effort in the same category will be measured.
Our product will help you identify the marketing activities that generate the most sales revenue by directly tying every sales dollar back to its campaign source. Campaign managers can analyze detailed analytics to track revenue, and measure campaign success.
Our product helps you to easily determine which prospects require follow-up contact after a campaign, and define the appropriate actions.
You can import and export campaign lists in multiple data formats from and to various marketing vendors. With SalesAnnual List Management, you can also create targeted, effective marketing campaigns with list management tools for segmenting, exporting, and analyzing lead lists.
This module enables you to create customer or prospect lists by selecting any combination of contact and customer information.
This module helps you to easily export your lists to outside suppliers and manage the results with SalesAnnual’s campaign management features.
The module allows you to quickly import sales leads from offline sources such as trade shows, seminars, and direct mail; matching group and campaign; eliminating manual data entry.
It also enables you to import leads provided in bulk by a specific referral partner as a result of a specific campaign. You can also map and segment any information you need to manage.
This module allows you to analyze lists and contacts to identify trends, and to optimize marketing campaigns.
This module allows you to track incoming prospect inquiries that respond to particular campaigns, and automatically route qualified leads to the right people, enabling sales reps to get instant access to the latest prospects – and business opportunities are never lost.
Online lead capture
This module allows you to automate lead generation by capturing leads from your customers’ website, directly into our system, and automatically send a personalized response based on information supplied by the customer.
Lead search and merge
This module ensures that reps can easily identify prior interactions with a lead before following up. You can easily merge leads, contacts, and accounts – and remove duplicates – for efficient lead management.
This module monitors leads end-to-end – from creation to conversion – with capabilities that include automatic date/time stamping, campaign or lead source tracking (vendor, campaign, and partner), lead status changes, and lead activity management.
Channel partner program management
With our system you can easily manage various channel partner categories such as affiliates, referral partners, and resellers – and create efficient, automated relationships with them.
Affiliate program management
Our affiliate program management functionality is designed to manage your channel partners who mostly operate on the Web, and therefore the tracking system reflects the way traffic is sent to you website. Affiliates typically use your on-line marketing tools, such as text links, ad banners, video clips, podcasts, webcasts, as well as text documents such as articles, press-releases, white papers, and case studies.
Referral program management
Our referral program management functionality is designed to manage your channel partners that deliver leads in a less organized manner – in a verbal or written form for example.
Reseller program management
Our reseller program management functionality is designed to manage your Value Added Resellers (VARs), that engage in the sales and marketing of your product. Typically they bundle your product and services with those of their own company, and market to their existing client base.
Channel partner compensation management
Our lead tracking and payment management solution gives you an extensive reporting system that will put you at ease, because your team – and your partners – can always access the latest data about their account and lead performance.
Our system allows you to store the contracts signed with each partner and see the compensation due to each partner. The numbers are presented in % and $ value accordingly the agreement with a particular partner, as well as revenue generated to date since the partner signed up.
Our flexible reporting solution gives you the ability to choose a report template or to customize reports according to your partners’ needs. The status of leads is reported as qualified, unqualified, dead, and so on, and you can easily send reports to your partners on a regular schedule.
Our security controls and permissions capability allows your partners to access the sales leads in their own territories, or those provided by them. You can also manually share specific sales leads with any user you choose.
Automatic lead routing
Our product makes lead management easy by setting up queues and assignment rules to automatically route qualified leads to the right distributor (sales organization that is located in a country where a company has no inside sales capabilities) based on customized business rules, and track the status of every lead in your partner marketing channel. Your referral partners will get instant access to the latest prospects, and leads are never dropped or lost.
Email prospecting and tracking
Our system empowers your resellers and referral partners to send personalized, template-based, e-mail messages to prospects in large numbers, and to easily track all responses from one centralized lead management system.
Our system enables comprehensive tracking and accountability so you always know your lead status, in real time.
Our system allows you to create specific messages and publish them to each individual channel partner.
Document management system
Our system provides a central repository of all the documents and communications your channel partners will need to support their sales and marketing efforts. Your partners will have continuous access to all of your up-to-date documents (product brochures, presentations, and support documents) from anywhere in the world, so they can respond to customer information requests quickly and easily.
Our comprehensive search capability allows your partners to quickly find relevant information, view documents, and even send them as attachments to their prospects, directly from the search results.
Secure records management
Our security rules and custom folders allow managers to organize documents and communications based on partner type, department, or any other criteria with limited access for the intended viewer only. Document management is secure and customized.
Second-tier referral program
Our system enables you to track not only every sale from each of your 1st-tier partners, but also each sale made by the partners that were acquired through your first-tier affiliates or referral partners.
Compensation is calculated according to your agreements.
Co-marketing program management
Our system enables your partners to submit marketing requests for co-marketing programs, if you choose. Requests are automatically compared and deducted from the partner budget. You can manage partner claims for funds requests by analyzing each claim compared to the allocated budget for each partner. Claims can be documented with a proof of performance.
For all financial and non-financial transactions, partners submit claims with proof of performance. Documents and uploaded materials are integrated with the marketing programs.
Special promotion for partners
With our system, you can make your partner Web portal “stickier” and increase partner adoption, by creating and communicating rebates and promotions for the partners. We provide rebate guidelines and best practices to help channel managers design and launch winning programs.
Your partners will have the ability to submit special pricing requests for the competitive deals on which they are working.
Search marketing management
Our system enables you to gain complete visibility and control over your search engine marketing campaigns-from keyword selection to closed deal. It allows you to put your marketing dollars to work with keywords that deliver the best results. You will can see exactly which leads were generated by each search engine marketing program.
Email marketing management
Our product has feature-rich functionality that helps you use a wide range of professionally designed templates for e-mailers and newsletters. One of our unique features gives you an easy way of creating landing page templates that match customized e-mail template and content.
Our system makes it easy to evaluate the success of e-mail campaigns with integrated response tracking and easy monitoring of key campaign metrics. You can easily identify which e-mail campaign generates the most:
Open emails (what recipients, when, how many times)
Our system gives you the ability to assign a specific identification to each affiliate or referral partners’ outbound email or telemarketing campaign sent via your system. Every incoming lead will be assigned to the appropriate partner and will be reported in the statistics on partners’ performance, accumulated compensation, and payment schedules.
Key features include:
Content editing supports a high degree of reusability and easy customization – push a button to insert a variable, “IF” statement, HTML template, and more.
Personalize messages using conditional content and data.
Default to standard content (such as “Dear Customer”) when conditions are not met.
Personalize subject lines.
Embed redirect URLs and attachments into e-mail messages.
Integrate with your favorite content editor, easily.
Flexible opt-in/opt-out support.
Viral marketing support – track and understand the value of customers who forward your messages, extending the return of those communications.
Rich re-marketing and wave campaign support via easy-to-create follow-up communications based on an individual’s response or lack of response.
New dashboards and reporting functionality
With our new dashboard and customizable reporting functionality you will have instant access to the real-time data and analysis you need to run your business. Dashboards pull it all together, providing instant access to a consolidated, real-time view of your sales data.
Dashboards give you an at-a-glance overview of the current status of your business, with benchmarks and critical metrics from sales, marketing, service, and more. One-click data refreshment ensures that your marketers are always working with the most up-to-date information.
Custom report formulas and highlighting
Multiple mathematical formulas are preprogrammed into the system to aggregate and perform calculations on raw data within the system. You no longer need to export your data to spreadsheets for detailed calculations.
Outbound sales campaign management
The module makes it easy for your telemarketers to create and test telemarketing scripts, as well as ABC test e-mail follow-ups that are automatically sent to the leads generated by each outbound sales campaign.
By default, unless customized, our system automatically sends three follow-ups to “non-responding” leads after which the system can automatically move them to the Dead category, which eliminates manual work.
Media buying and production management
We deliver a fast, powerful, and complete system that includes media buying, production, and result tracking, all designed with direct marketers in mind. Our system provides quick and easy access to information, and lets you track each campaign down to its tiniest details, because marketers and users need all the answers:
Which spots ads are profitable?
Which media is the most profitable?
Which creative is the best suitable for each particular media?
Which URL works best?
Which days of the week, month, and parts of the day work better for each media?
What is the cost per order for each media?
What is the cost per inquiry for each media?
What is the cost per lead for each media?
What is the ROI for each media?
Which call centers are the most effective?
Our system keeps everyone in sync and up-to-date because direct marketing is a complex process involving media buyers, scriptwriters, copywriters, designers, producers, call centers, accounting,
budgets… as well as innumerable sign-offs by clients and management.
Print ads in newspapers, 30-second spots on prime-time television, banner ads on websites – each can be considered a media buy. Managing your media is easy with our fully automated system.
Spot and network buys.
Inserts and circulars.
Cable and broadcast.
Our system helps you traffic and manage jobs, work orders, and schedules.
Note: Please note, some functionality is not available with the basic package and is only sold to clients that order 50+ seats, or is included as part of customization consulting. Please specify your requirements and we will provide you with a quick quote.
In the new state of the economy, your motto as a marketer should be “efficient marketing made simple with less;” at least ours is. Our programs and technologies will give your marketing department the ability to take greater ownership of leads, as well as customer and partner relationships, which keeps the cost per interaction as low as possible while guaranteeing greater marketing performance.
This means you can continually improve the effectiveness of your marketing efforts rather than potentially repeat what hasn’t worked. Marketing automation – and a well-selected marketing firm – will make your marketing programs more successful and remove discrepancies between your marketing objectives and your execution capabilities.
The result… your company generates more qualified leads at a lower cost per sale, and this helps your sales team achieve a higher closing ratio.
SalesAnnual is the premier provider of marketing campaign development and automation programs for advertisers, marketers, and publishers, specializing in delivering high-quality leads and maximizing the results of customer acquisition.
Contact us to get started: salesannual.com/contact-us/ [http://salesannual.com/contact-us/]
Business Development Manager at SalesAnnual ([http://www.SalesAnnual.com]), a leader in referral program design, automation and promotion. It’s a direct response marketing company that will double your sales in no time. We’ll bombard you with referrals and new sales leads and sell for you while you sleep.
Article Source: http://EzineArticles.com/expert/Adam_S._Smith/142222
Article Source: http://EzineArticles.com/1983367
Search engine marketing is the principle supply of offering sites on web. It includes practices to make your site unmistakable to outside world. System pushing is one kind of promotion for site. Project elevating permits you to have a go at looking through system results. The higher the system advertising is the best the positioning is in search engines.
Looking in search engines proposes that you’re discovering one thing and you’re on the looking for cycle. The most rapidly used ways working on which can improve the ranking of websites are:
* Keywords— At irregular once, you place words on the pursuit content box or connections program tries to go searching for the data you require from that distinct words. These words utilized for the system alluded to as Keywords. The reshuffle needs prevalent magic words forever rankings in internet searchers.
* Hypertext imprint up parlance— arrange moreover assumes exceptionally imperative part in system enhancement. Promotion of sites square measure made on the off chance that they satisfy the benchmarks of SEO. The hypertext imprint up dialect arrange furthermore seeks capability to make a stronger SEO.
* HTML tags— should not left plain with its properties else its slither rate will move down your site positioning as picture “alt” property for the most part is left clear incidentally. Paid rundown has extended its capability to look with sensible outcomes. A few people groups would perhaps contemplate the trap through that they’ll pass through a #1 rank for site. Not with standing, for the most part these traps could bring about disappointments for streamlining.
Search Engine Marketing is the more extensive way that incorporates SEO. SEM incorporates every paid query items (utilizing apparatuses like Google Ad words or Bing Ads) and natural indexed lists (SEO). Web search tool Marketing utilization paid publicizing with Ad Words or Bing Ads pay for every click (especially suitable for local suppliers in light of the fact that it permits potential customers to contact an organization straightforwardly with a single click), article submissions, promoting and guaranteeing SEO had done. A watchword
investigation performed for every SEO and SEM, however not basically at consistent time. SEM and SEO everyone should be screen and overhauled often to reflect advancing best practices.
“Natural” program me marketing (Organic Search Listings) joins together the best practices of innovation, convenience, copy/linguistics and on-line PR. this might be on the grounds that few web crawlers build their importance calculations with respect to a mixture of the content they see on a page or website, joined together with outer components like connections and visitors preferences. Advertisers ought to buy content connection list items on the greater part of the most noteworthy 15 inquiry destinations as progressive by Media Matrix and Net Ratings. That is truly change from 1998 or in the recent past, once none of the primary web crawlers encased paid postings inside the list items.
Various search engine marketers prefer to compare the regular SEO with publicizing as a result of Page Ranking is hence imperative to an association, yet the ROI on PR will generally be a test to live. In every SEO and PR, marketers have the plan B of enrolling inside staff, transportation in pros, or misuse an outside office. The same choices look for paid request marketing. Then again, for the most part greater paid chase fights square measure appropriately colossal they will oblige some campaign change or offer organizational development joined together with internal or outside dexterity.
Mobile marketing means offering items and administrations to the current and additionally the potential clients with the assistance of any cell phone or a system. Portable trade is an intelligent manifestation of promoting whereby organizations and associations can stay in touch and speak with their clients as and when needed.
Mobile communication has ended up some piece of our everyday lifestyle. The boundless selection of cell phones is happening on the grounds that these gadgets fit the way we wish to live. Cell phones help fill numerous shoppers need to be constantly joined and constantly educated. It’s a developing industry and all corporate players are putting forth versatile items and administrations to shoppers that need to be more associated and educated.
Mobile has turned into the buzz word for the showcasing business, inciting organizations from all over to get in on the diversion. Anyway with such a variety of alternatives and systems to seek after, which one is the best for your business? Don’t surmise that versatile promoting is just for extensive organizations in real metropolitan regions, either. Organizations of all shapes and sizes can successfully utilize versatile advertising to draw and develop their business.
Mobile marketing Miami is effective mean of promoting and advertising products to consumers thereby increasing the profit of any business. It is effective in the sense that it allows organizations to communicate directly with the consumers. But for effective marketing businesses should keep up with the technology.
There are different courses in which portable advertising might be attained. A standout amongst the best path is by making utilization of sms. This was maybe the precise first means utilizing which organizations and advertisers might offer their items and administrations. With the changing technology, the methods of mobile marketing are rapidly changing. Now a day it can be carried out using MMS, Bluetooth, Web and even location based services.
The expanding utilization and reliance of customers on their advanced mobile phones is bringing on a Tsunami wave in the realm of promoting. Customers are progressively overlooking conventional advertising messages. Going ahead all organizations will need to have a versatile method on the off chance that they need to connect with their clients.
Dedication Mobile is more than simply a promoting channel. It is a channel to serve and your clients anyplace, at whatever time and in a customized way. Buyers have a tendency to impart audits and elude items/ administrations to their companions utilizing portable online networking.
Purchasers are utilizing their web empowered cell phones to settle on particular and using choices. Shoppers are utilizing their Pdas for everything – data, news, excitement, shopping, examination, discovering neighborhoods interest, and so forth. In view of their versatile encounters and what they see on the portable web – they act.
Each of these variables helps the special quality recommendation of portable. Organizations can tweak their versatile promoting system and influence every one of them to augment profit from this stage.
When paying your taxes, you need to seek help from an accountancy consultant or a cpa athens ga. Providing key decision makers when paying your taxes in never an easy thing especially to small and big business owners. They need to do it on their own unless they have their own accountants. Personal accounting and banking matters can be handled well by a CPA. When someone talks about giving professional tax advice, do not believe right away. Taxation and accounting consultancy services should only be provided by CPA’s. You can research all over the web. Try to figure out reliable information.
Bayshore is the Internet Marketing solution, providing a complete Internet marketing strategy, promotion of a nationwide advertising. We can help you create a website, get the results or upgrade your existing site’s functionality. Bayshore Solutions can help you effectively combine network marketing, promotional and advertising strategies, customer conversion visitors web design.
Internet marketing is the same as traditional marketing, others are not. Here are seven things you need to know your online marketing is successful. When you write Xu copy, you should take the time to understand what works and what does not. There are two mistakes almost every amateur search engine copywriting.
Successful non-profit organizations use the Internet to market charitable program.
To help companies improve their digital marketing results, I also had in-depth, widely praised and won the AOP Award for best practice, publisher e-consultancy Guide.
Internet marketing is very challenging, and there will be, you need an expert search engine marketing services to beat your competition in the traffic wars. Please consider our search engine optimization company with the help of your project. Free quote service search engine optimization, web design, pay per click advertising, search engine optimization and PPC series, search engine optimization training courses and online brand network analysis.
Internet marketing is still essential to any business’s overall marketing strategy. Mentioned before with all the benefits of internet marketing, people still buy magazines, billboards went out to check to see their mail, watch TV, and shopping. No matter how fast-paced and wide internet of communication, people go out together, talking about going to the gym. Thus, while Internet marketing is absolutely valid and important, demising certain value of the cost of traditional marketing any business, many potential customers. Another thing, when we say that internet marketing, it is not only figures we choose to click on ads. The list also includes security, advertising, advertising social networks, groups, discussion boards and many others. Accordingly, the online marketing activities can effect the number of people exposed. However, one disadvantage is that people started to become one of the, and would even read the advertising information advertising or know (even people in the security list), and delete without opening them. When someone on the Internet, they would like to read / write e-mail, chat with friends, read and post / reply comments, play fun games. As a internet marketing goal is to build a top priority for Internet users. Also, try and spam and unsolicited e-mail and advertising, more and more people away from Internet advertising in general, unless they are some specific content. A variety of Internet marketing strategy is free and paid online marketing can make more money. 12-month Internet Millionaire Review – Russell Brunson is a 12-month millionaire fraud?. As the market one of the most controversial books, and now the Internet millionaire’s 12 months still constitute a major buzz everywhere. A great professional internet marketing make money online. Internet marketing can be a lucrative industry, if some big Internet-related skills and knowledge development to do so successfully. Must also identify and develop the necessary strategies to make money online. Pay per click advertising, online advertising and link exchange programs, is marketing, can be used to make the Internet industry to make money online there are some important programs.
Internet marketing are not the result of a well-defined, integrated internet strategy; rather, they are a response to competitors activities or customers demand. Through the site has existed for more than a year, marketing staff and senior management will naturally question its effectiveness. This is usually the point in a coherent Internet marketing strategy needs to become apparent. As a result, starting in the sum of electronic marketing strategy, is when a company’s existing website, which is to review the existing site and its purpose is to improve the effectiveness of the future. There is no evidence that the development and implementation of a strategy to be significantly different approach to electronic marketing. Strategic planning for enterprise development or strategic marketing to comply with the established framework should still be. The framework provides a logical order to follow up to ensure that the strategic focus of all development activities included. It can be said, however, with the e-market strategy for a highly sensitive process of rapid response mode, the events in the market need. Soviet-style five-year planning application does not seem to fit, the best approach is a new process of electronic marketing strategy is a continuous improvement. Check fee (2002) pointed out that e-commerce or e-marketing strategy process models tend to agree with the following features:
There are many ways to market your product using a large number of online with Google AdWords or Yahoo’s Overture advertising network, eBay, members network, cost per click marketing. In addition, there are many second tier cost of sales and earnings per share network. You need to have a good network marketing strategy, using the Internet to provide online marketing tool. With Internet marketing company, will help you to get your website in search engine advertising and optimization services provided by many of the results, but eventually you need to determine what kind of network marketing will give you the best of a product line. It used to be you bought CPM (cost per thousand) in large-scale campaign Web site and hope that the good performance of these ads and get traffic to your website. Now, there are many choices, there is usually a for each event better than the other run. It appears that the use of network marketing the best way to get return on investment cost per click online marketing tool, the strategic point. Google AdWords and Yahoos Overture CPC programs have dominated the world of network marketing in the past two years, they only get bigger and stronger. Network marketing companies have sprung up to help beginners learn how to use AdWords and Overture to the best of their ability to rope. If you want to build a brand, then the cost per click will not be online marketing solutions. Instead of the online brand, you will go to a CPM campaign, is a straight line costs. The targeted ads, and now there’s online advertising spending is due to leave the television and radio have been gradually transferred to the Internet. Why do you want, if you are advertising with the radio or TV, you can actually track the individual results of the work online. We believe that many ad networks and affiliate program will gradually fade out in the next several years, while Google and Yahoo Zhudao even with their own, targeted search results and more per click advertising network. Internet changes quickly, any company want to optimize their online marketing presence needs to adapt and adjust to the latest technology.
Network marketing is the three capacities: transport infrastructure, marketing, application development, marketing methods and permissions. Practical ability of the network in sports marketing when three similar shift manual gearbox, driving a car, both in mechanics.
Internet marketing is the same where you live, because it is a global market.
They do not have banner ads, because they are cheaper than print. In Facebook, because their children that they should be. If you start what you want for your site’s business focus and you concentrate all energy on helping to improve the preliminary results of this goal, Name of the Dong Xi you Keyi try, to see if they are how they work. Or you can look at things, said: “I do not see how it can help me achieve my goal. Now, if you ignore something, it is possible that they will actually become extremely important, and you ‘local employees realize that you made a mistake. but only the larger error is ignored, since you are overriding, or try to do everything hafway and accomplish nothing.
Network Marketing is not just large budget or the entire company’s IT department. We have developed in Newfoundland and Labrador website, then who can appear in more effective competitors excluded from the market itself. We can do the same for you, to establish an online presence to support your other. This allows you all the seamless integration of marketing activities, you become a better profit growth in your site shooting. With complete Internet marketing strategy and a strong web site design, your company has the potential to become a global player., Kok River, some in Newfoundland and Labrador, or any other parts of the world community, asking them to do, they can help your web site design, as a money-making machines effective. We believe that your answer in Lorne Park and associated companies will seek to get you.
Internet marketing is clear, the next question is usually, “Yes, but where I start?.” For new and existing customers a direct entry point. In the days passed, and when people want to find a business, they turned to the yellow pages. Today, your customers will find you on the Internet, if you are not there, they will turn to the next thing, they did find: 1,
Network Marketing is your competitor doing? How do your competitors in the domestic major search engine rankings? What kind of traffic from their own site? Use the right tools, this valuable information can be found in your competitors.: What is it your product or service for the customer to resolve or do not provide any good? In what ways you can best illustrate this advantage? Clear and consistent information on the positioning of your products in the market based on a solid understanding is very important to all offline and online marketing efforts.: How much money can you get customers and still make a profit? What is each customer, you get the value of life expectancy? This is the answer you need to determine the effectiveness of any network marketing program running on key issues.
Internet marketing is falling over themselves trying to shift dollars from offline to online marketing. I believe the idea is that network marketing will give them better to reduce the U.S. dollar in a tight economic returns. While it is certainly a solid strategy for mobile Internet, it pays to put it a little thought, the first: Verify your infrastructure. Offline dollars in your move to online, to ensure that you can actually use all of the online customer service. Do you have in place of? You can quickly adjust the landing page and website copy? No sense, if you put in to send visitors to a site, sucking money from online advertising. If you are from offline to online money like two weeks to generate a 5:1 return, reducing the Prozac and think twice to come back. The biggest mistake I see their budget, the company’s transformation, is that they think this is a line ‘run and do’ things. Marketers and their bosses think they can create a landing page or start a PPC campaign, and then forget about it for a month. And this cycle works in print or television, it will not work online. Line is highly, highly repetitive, and requires constant attention. So you save a lot of advertising money into the labor force.
Characteristics of network marketing is definitely a good start in the Internet market, but if you do not know how to drive traffic to your site, these things will be wasted.
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Internet online marketing experts found in the blog, webmaster forums and online publications. com, where you can learn about the latest Google updates the new method can make money website. Acetylcholine maravilla is the President and Chief Executive Officer powerhomebiz. One on entrepreneurship, in order to step by step information.
Internet marketing is just too numerous to mention in this article. If you access the Internet value-added services, web savvy, you will see how much of this marketing can increase your business type.
Network marketing is online marketing, network marketing, network marketing. Internet marketing is very important, but the madness of growth with social media, I strongly recommend listening skills is to know how to do twitter, Facebook and YouTube. Many marketing media, relying on the three to take home the bacon only. The building is a long list of network marketing, a necessary component of success. List building simply means that a user list, you can communicate regularly via e-mail. In order to start building a list, you first need to establish what is called a capture page. Pages, your visitors will be asked to provide some free gifts, to share their names and e-mail. It can be a free report, e-books, video or presentation software. Many merchants also offer free electronic can receive daily early bird tips and notifications.
In today’s competitive (and noise) market, we must combine all the right online marketing tools, to create a truly effective and comprehensive marketing program. All, of course, is up and around the central site, but to create opportunities, improve customer response, increased brand awareness, the site of the network through a comprehensive marketing strategy, including search engine optimization, PPC, social media tools to support marketing, and so on.
Linked network marketing ideas and technology and business strategy design, development, Internet advertising and marketing. Search engine marketing, email marketing, display advertising, affiliate marketing, display advertising, blog marketing, display advertising, viral marketing. Internet marketing is the media running along the different stages of customer engagement cycle through search engine marketing, search engine optimization in a specific site, e-mail marketing and Web 2, banner ads. Network marketing has become more and more organizations use to promote the network media key and very effective. ‘The establishment of a website’ or ‘promotion site’ is the foundation, but not the basis of network marketing.
Somewhere behind that website is a real goal, the real organization. Internet marketing strategy includes all of the online advertising products and services, including market research, email marketing, websites, and direct sales.
This articles talking about Internet Marketing Strategy.
Article Source: http://EzineArticles.com/expert/Nee_Hau_Lee/651315
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The world is joined like at no other time. Organizations are presently equipped for socially associating with their workers, clients and accomplices on such a level so personal, to the point that its currently conceivable – and even essential – for these gatherings to turn into your fan base; devoted supporters of your business who will support your business, items and administrations for your benefits.
With headways in innovation promoting, social marketing has turned into one of the most ideal courses for organizations to showcase their human side and structure bonds that last past the purpose of offer. Social networking promoting organizations are presently a discriminating linchpin in a business’ general showcasing methodology. The most important advantage of social marketing in Miami is producing presentation for the business, emulated by expanding movement and building new business relations.
Social marketing estimations permit you to arrangements with what really happened, (changes, clicks, and so forth.) versus traditional marketing estimation which for the most part just measures potential span. These measurements are continually being refined as more coordinated investigation stages are constantly created.
When you need to build mindfulness and engagement so your organization’s informal community achieves basic mass and keeps on growing on its own. Social marketing in Miami is ready to help with arranging and execution either specifically on your task.
Some social marketing tips that will help your business to grow can be:
* Keep an eye on facebook’s changing guidelines— Facebook has had some really strict rules for running advancements on your Page previously, and its generally a great thought to verify you’re not in break of any of these.
* Take after or favorite all people retweeting your articles to grow your audience— Have a go at hunting down your site’s name or URL, your full name and any particular catchphrases or hashtags that you utilization. In the event that you don’t have sufficient energy to answer to the greater part of the matching Tweets, a speedy most loved can help you reach those clients.
* Plan your updates to post just before or after the hour— In case you’re attempting to achieve businessmen like advertisers, office specialists or administrators, this is particularly helpful.
* Quit making the most common twitter mistake
* Get more youtube subscribers with this pop-up— For those of you who use Youtube as a fundamental showcasing channel, this is an extraordinary tip. It’s a truly straightforward, simple approach to expand endorsers of your channel.
The numerous social networking promoting organizations concentrate on default vehicles (like a Facebook or Twitter) and measurements.
Known as “the capital of Silicon Valley,” San Jose is indeed a busy city. With huge corporate names, glittering its skyline – San Jose has enjoyed a palmy economy despite the ups and downs of the recent years. And because of this, San Jose has become an attractive location for small businesses that aim to make it big.
Now the question is: What does it take for small businesses to make it in San Jose?
The answer lies with West Coast Marketing. Unfortunately, this does not come for free. Usually operating under a tight budget, small businesses find it challenging to make it ends meet. To help you out, here are some things you can do to stretch your marketing budget:
Narrow your target audience. When you’re working under scarce resources, forget mass targeting. Go for niches instead. Analyze your product or service and identify the kind of people who’ll be interested. For instance, if you’re selling handmade apparel for women, there’s no point targeting teenage boys or grown-up men. This may be a very obvious example, but you probably get the point.
Team up with other small businesses. Forming alliances with other business owners is a powerful strategy to expand your marketing plan. You’ll be able to combine resources and share each other’s existing customer pool. Aside from that, you’ll be able to cut your marketing expenses since there would be someone else helping out.
Pair up with big names. Do your best to get noticed by bigger, established businesses. Convince them of your worth so that it would be easy for you to pair up with them when the chance comes up. One good word from huge companies can drive countless of customers to your doorstep. So for the mean time, strive to make your business name resonate with an efficient service, quality products, and impeccable customer service.
Be relentless with Internet Marketing San Jose. If you have the patience to learn and put what you’ve learned into action, you can actually do this yourself. Join social media networks by signing up and creating profiles. Be an active user and find clever yet friendly ways to get in touch with people. To identify online communities that are relevant to your business. Also, make your business website as SEO-friendly as possible. Make it your goal to rank in the first page of search results. If this is a huge task for you, hire an online marketing specialist. Let him set up an SEO plan and try to learn from him during the process. In the long run, you’ll be able to do the SEO tasks on your own.
Adwords is also known as viral advertisingor marketing buzz. This is a social networking serviceto increase brand awareness, to achieve the marketing objectives, product sale or self-replicating. Adwords can be perform by a video clip, ebooks, brandable software, text messages on mobile phones, email marketing, web pages or interactive flash games.
Simply we can define adwords is a strategy that encourages the people to forward a marketing message to their contacts. This is a multiplication process to spend a single message through different channel of communication to the thousands or millions of people.
Elements of a Adwords Strategy
We have to accept this truth some of the adwords strategies are always better than others. Here we found some elements that can make and effective adwords strategy:
Gives away products or services
There is a powerful word “Free” that can grab the attention of people that would be one of the best adwords strategies. However, if you are not able to provide something foruse other words like “cheap” or “inexpensive” may help you to attract people to your work.
Provides for effortless transfer to others
This is the human nature that we need everything in an easy way. So you have to provide them an effective solution of their problem in an easy way. So you can provide some of the useful links to the people in their email box or social media wall.
Exploits common motivations and behaviors
This is one of the most effective adwords strategies wheremotivation can play a vital role in order to promote your business over the web. You can motivate the people to use your products or services by showing their benefits to attach with you for a specific purpose.
Some Effective Adwords Techniques
* Write quality articles and encourage the bloggers to post them free as content for their site
* Set up an affiliate program to encourage links to your products
* Send out press releases and concernthe free service available on your site
* Use Top Social Networks like Facebook, Twitter, LinkedIn, MySpace and others
* Encourage people to forward your email or messages to their friends
You cannot only rely on hard and fast rules of adwords strategy, keep trying unique ways to buid adwords techniques that may be helpful in the future. Programs that convey a solid adwords module get you much more traffic for your investment and effort that you spent in for viral advertising or marketing buzz.
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The analogy between marketing and a business is similar to the relationship of body and food. Marketing is the heart of the business. Every business is different so each business has to offer marketing and development, which fits each unique business’s need. There are many ways of developing and marketing for any business, but first let’s find the true concept and definition of marketing.
“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.
1- Thinking advertising is marketing:
The biggest mistake most of the business owners make is to think advertising and spending money is the only marketing way exist. This group only focuses on advertising, which when the desire result is not achieved at the end of the month, they complain of how much money they wasted away. Advertisement is merely one of many ways of marketing.
2- You don’t enjoy what you do:
As stated above Marketing has many ways and approaches. The main marketing for your business is to love what you do. Nothing is better than your “Love what you do” attitude since it brings out your creativity, shows your talent and tells everyone how devoted you are to your business. Your daily positive attitude defines the successful future of your business. The love of your business construe in your daily interaction with new clients, employee’s moral and making important and effective marketing decisions. To be a good marketer for your business, first rule is your love for what you do.
3- Don’t have a good business plan:
What is business plan?
“A written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement”.
Having a business plan is like having a map. Many businesses start their business ignoring this very effective tool and get lost in the middle of the road. Every business plan states the exact details of the business’s concept and outlines clearly the marketing strategies, profit and loss, demographic, place of business, finances and targeted niche market. In order to make a solid business plan:
A) Know your business inside and out
Knowledge of your business is important to know the answer to all the categories of business plan. If you do not know the concept of your product or service, business plan and the pillar of your business does not exist.
B) Study, analyze and scrutinize
When you know the back and forth of every detail in your business, you can access all the required information needed to project your business in a business plan. In order to access all this information you need to study, analyze and scrutinize every file and information in libraries, city records and valid informative site on the Internet.
C) Print it and have it accessible
When you put all the info together and created your fully detailed business plan, print a copy and keep a file handy and accessible.
Your projected analysis for the business works as a map to your success. Don’t drive to an unknown destination, not having a map on hand.
4- Don’t have any plans:
Marketing and developing its strategy is vital for every business. Marketing works as fertilizer to boost the lawn of your business. Even more importantly, marketing acts like sun to shed light and direction to your business for finding leads for the potential clients. Marketing is like having your open sign on in the dark street. I think I emphasized enough and you understood how important marketing is for any business, small or large.
5- Not analyzing the market for correct pricing.
Every business offers products or services. Then producing and providing the products and services involves certain cost and fees. Setting the price according to the market is very important and cause for a major failure for small businesses if done without market awareness. The root and source to find a perfect price is your business plan. It is necessary for every small business owner to investigate:
A) The demographic income of the targeted niche and audience:
The business plan states the average income of the targeted audience and the niche market. Set prices based on the factual statistic and spending ability of potential clients.
B) Market needs and economy balance:
An involved business owner is always aware of the market needs and the economy balance. Based on your niche market, be on top of the factors of change in economy that can impact your client’s ability to spend. If you deal with bankers and investors, keep up with stock market news and its daily changes and adjust your prices regularly.
C) Competitive market prices:
A business person is always on a lookout for its competitors and is aware of their side of story. It is necessary to know your competitors and adjust your prices based on their offering and similar services.
D) Demand of the product or service:
Investigate the demand before putting the price tag on your product and service. You can find this information through the data in your business plan. Balance your prices based on the market demands;
If you projecting a good volume of sale, price it lower than competitors.
If the demand is lower and the project of volume is slow, price higher to accommodate the distance between each sale.
E) Uniqueness of the product or service:
A unique product and service in the market attracts more attention. Price it higher than other regular products.
F) Acceptable profit margin range in the area:
Profit margin’s acceptability is always decided based on the market and economy as well as the market demand for the product.
Consider a big city. If you have a product or service that is unique, but projecting a high volume of demand, based on the economy and your targeted niche, the profit margin should set higher than normal.
In a small community, If you are investing on a product with limited demand, go conservative on your profit margin.
6- Not having any budget
Many small business owners make a big mistake and do not place any budget for daily, monthly or yearly marketing plans. Whatever the profit and loss data projects on your business, it must include certain amount of budget for marketing plans that are realistic and traceable. Unfortunately small business owners mostly have no budget and deduct the cost of marketing plans from their profit data. This particular budget assignment is very effective in the future of business growth. Increase the marketing budget with business slowly reaching the peak of demands for your product and services.
7- Spending money on non-traceable ads
As the market changes, so as the marketing plan, pricing and target audience. Invest and assign marketing plans that are traceable. Traceable marketing means follow-up charts to analyze data.
The worst mistake of marketing is to spend money on a plan that cannot be traced and measured. This marketing mistake is wasting money or in other terms is shooting in the dark.
8- Do not trace the result
Many businesses have assigned a budget for the traceable marketing plan but sadly do not follow-up on the result and do not trace it. This is just the same as spending wasteful money on non-traceable.
9- Think in a closed box:
Each business is unique. Even if the business offers a same product as other business few streets down the road, the two are still unique and different in many ways. The biggest mistake small business owners make is to follow other businesses’ footsteps. Marketing and its strategies should not have any limitation. Think of marketing out side of the box and do not limit the marketing strategies to a cliché approach others do. Be creative and design a plan unique and suitable for the very business.
10- Don’t know what plans to set:
Everyone is familiar with the word marketing. The first conversation when opening a new enterprise is “Lets do marketing!” But do we all really realize the core meaning of it?
I compare marketing strategies and its unique approach to our fingerprints, which is distinctive. Many understand the word marketing but are not familiar with how to set the strategy and the game planning related to the business.
It is a big mistake not knowing how to set the strategies while being fully aware of marketing important role in the business. Since setting the marketing plan requires research, analysis and knowledge of he market, hire a professional researcher and marketer to create the necessary game plan.
11- Assuming the product or service will sell itself:
One of the biggest marketing mistakes is to assume your product or service is going to sell itself. This assumption is misleadingly translating marketing into advertisement. I have met many small business owners who declared that quote-to-quote “I don’t spend money on the marketing, to me I only rely on word of mouth”.
Word Of Mouth is the strongest way of marketing. So what this small business owner was under impression that he does not do any marketing because he thought marketing was spending money on advertisement. So he was counting on the most effective marketing, the word of mouth. Word of mouth consists of two factors:
A) Product or service:
People have to like the product or service to continue talk about it and refer their friends.
B) Customer service
Another major difference between businesses is the level of customer service. I didn’t say the level of good or bad. What I mean is each business owner or employee that has been fully trained to look after a client as a customer service has his or her own charm. This specific charisma and character make the business unique to others and is a major influence for word of mouth.
Let me give you an example of how powerful the word of mouth and spreading the word is to any business. While ago, I worked as a junior manager in an up-scale restaurant. The general manager identified his target niche as young professionals in downtown area. So he hand-picked few employees in the same age range as the targeted niche to use public transportation and talk about the restaurant among each other. His decision, although was not directly traceable, but yet had an amazing effect. How did I analyse the result and witness the proof?
The restaurant offered comment cards, asking “How you hear about us?” and many without any surprise responded via word of mouth in public transportation.
Even if the business owner is avoiding any advertisement cost, they still rely on spread of word about their service and product via the community and the word of mouth marketing.
12- Don’t know the target audience:
To plan and set a marketing strategy, any small business has to have a direct target niche as an audience. Analyze everything about the niche audience. The list certainly is not limited to the audience’s income, age, interest ratio to the product, sex, education, commitment ratio and their loyalty.
13- Don’t know the competition:
The best way to analyze the market is to get familiar with the competition and rivals. It might sound cliché but as the Godfather movie suggested, “Keep you enemy close”. Or if I may rephrase ” Keep your competition close and be aware of their moves”.
This is especially important for small business owners in small community to have a good relationship with other competition. To share my experience in the same restaurant I used to manage, the general manager always encouraged me to go to other local restaurants and dine. He even offered to pay the bill. All I had to do was to analyze everything from the greeting, staff knowledge, manager’s presence, client’s relation and the overall quality. My report helped him to understand his competition strengths and weaknesses.
14- Hiring wrong person to do marketing:
Many small business owners out of desperation and lack of networking, hire wrong people to do their marketing. As we said earlier, every business has unique offering and services so must focus on unique planning for its marketing strategies.
It is the small business owner’s responsibility to hire a professional firm who can relate to the business’s need and offerings.
A good reputable marketing firm whose focus is to promote books and authors in not a good fit for a small local bistro.
15- Underestimate the value of existing clients:
A good businessperson always knows the value of the existing clients;
The best way of follow-up with the existing clients is to create informative data about them. Many small business owners lack this very important source of information. To avoid this mistake, keep a record of every client’s information. If the information requires certain personal data, keep it in a safe and secure place.
A client whom already has experienced your product and service knows about the quality of it. Always do follow-up calls and do not be afraid to ask how they liked the product or service. Even if the client responses back with dissatisfaction is a perfect opportunity for the business owner to fix the problem.
Gain a new customer is costly. I am gong to explain this by an example:
“Nancy enters Joe’s café because of a coupon she found in a local magazine offering 10% discount. She solely relies on a menu attraction, prices, quality of the food and customer service. Joe the owner spent lots of money and time for marketing after analyzing the community needs, price affordability and the targeted niche market.
Joe has three ways to collect emails or phone calls for follow back:
A) placing a note pad in front of the cashier’s desk asking new clients to write email or contact info for special promos.
B) Placing a glass bowl by the cashier’s desk offering the weekly draw of free lunch from dropped business cards.
C) Offering comment cards and asking for contact info.
Joe has three ways to accumulate client’s information and follow-up with them. So everyday he goes through all the information and creates a secure data.
Nancy finds the place charming and the food great but not a good customer service. It is Joe’s responsibility to follow-up and gain back Nancy’s business once again to avoid spending all the money and time all over to attract another new client.”
Existing clients are the perfect way to promote every business. Send special offering, communicate with them and even ask them to share your business with their friends. Respect the boundary between proper communication and spamming.
16- Not offering giveaways and novelty items:
One of the most effective ways to attract clients is to giveaway your product or service for free.
A) Test run: Offer a monthly test run of your product and service and giveaway a free sampler. People love to get samplers. It gives them information about your business and its quality.
B) Propose monthly contest: Proffer a monthly contest and giveaway prizes based on participating in your business. People love contest and it excites them to know they can win something. If it didn’t work, Lottery and Casinos didn’t exist.
C) Give out novelties like mugs, pen, key chain, notepad, calculator, shirts and hats with the business information printed on it.
As a business owner recognizing correct niche market target is necessary for further marketing planning and budget assignment.
To explain this better lets picture a shoe store that carries high-end fashion shoes for women. The first thing that comes into the mind, high-end fashion niche is only younger generation and teenagers. A good business owner will explore the possibilities to analyze further more into the data from business plan to understand the local community needs.
If selling high-end, then its higher quality and higher prices. A teenager on a student living budget cannot be a direct and only target niche. So the correct niche is a professional and higher income spender who is more interested in quality without considering the price tag.
This example clears how a business owner distinguishes the certain target audience by analyzing the local market data from business plan. With enough knowledge in market research, the business owner avoids wasting the marketing budget on a wrong niche.
18-Not participating in community:
“Every big things has small beginning”
Regardless of the geographical target of any business, whether global or corner store in a small village, it all begins with local community.
Who are the first people you would share news with in your everyday life? Family and friends are the strongest link to marketing and spreading the word. It starts from friends and family and spreads to their friends and family and before you know it, is a snowball effect and cumulative.
The local community is the test run before spending a time and money on a dead-end marketing plan.
19- Do not own an informative and representative website:
Internet plays a great deal of connection in people’s life everyday. Many customers use the Internet to search and review local businesses. No matter what kind of business, it requires an informative and user-friendly website. A good business website is a gateway that welcomes customers to enter and experience the business offering.
Many small business owners making mistake and assume their line of business does not need a website. With daily development of technology, people get more connected via Internet and do their shopping online. Search engines get stronger everyday by developing codes and programs to bring up the exact and precise inquiry.
20- Do not appreciate the value of the Internet:
With a vastly growing competition on the Internet and the increase in demand for business development, simply having a website that offer information is not enough. Popular search engines are only producing websites in their search result, which have better ranking. Many small business owners simply making a big mistake by avoiding the presence on the Internet and ignore the growing highway to success. Every business must have an informative website and optimizes the business on search engines, social media and popular relevant forums. This subject of Internet marketing and its highly effective marketing plans is a lot of subject to cover in this article.
21- Expecting too much in short time:
Do not expect too much in a short time. There is always cause and effect but it requires proper time period to produce best effect. A seed needs time to open the surface and grow to a strong tree. But it requires water and good fertilization. Marketing is the water and fertilization to the business. It takes time for a good marketing plan to spread the roots and make a strong holding ground.
“Rome was not built in a day”
It took generations and much hard work of skilled engineers, planning and proper budgeting to build the mega city of Rome.
Can you hold a roof without building the pillars and the walls?
Marketing is the pillar of the business. Without marketing and planning, business lacks a foundation.
Many business owners place the marketing and development in their last page when the business opens its door to the public. Marketing starts when the business idea takes shape. It begins before the business is even called a business. Avoid making marketing mistake and start your marketing with knowledge and strategy.
Marketing is the heart of every business and keeps the health of the company in balance. But treat the heart right. Eating healthy, exercise and lack of stress are keeping the heart healthy to beat the life into our body. Practicing and implementing the right marketing strategies keep the business in shape. Don’t make mistake if you had a good run. Many small business owners get too excited for this temporary beat of recognition and look at it as everlasting. To keep a good balance in business, marketing and planning should match the flow of the business. Increase your strategies as your business grows and increases.
Marketing is the pillar of every business and is the only foundation to go further, faster. Imagine a boat with no engine crossing the Atlantic. The marketing to a business resembles the engine to a boat. The planning and strategy of the marketing to the business is the safety gear of the boat that keeps it balance and not to tip over.
To hire a professional to help with marketing strategies, business plans and target niche market, post your project in http://www.bidsbypros.com and connect with local pros. Bids By Pros is a free social community to post your needs and get connected with professionals.
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