Tag Archives: advertising

How to Create a Marketing Plan

Firms that are successful in marketing invariably start with a marketing plan. Large companies have plans with hundreds of pages; small companies can get by with a half-dozen sheets. Put your marketing plan in a three-ring binder. Refer to it at least quarterly, but better yet monthly. Leave a tab for putting in monthly reports on sales/manufacturing; this will allow you to track performance as you follow the plan.

The plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, customers come and go. Later on we suggest creating a section of your plan that addresses the medium-term future–two to four years down the road. But the bulk of your plan should focus on the coming year.

You should allow yourself a couple of months to write the plan, even if it’s only a few pages long. Developing the plan is the “heavy lifting” of marketing. While executing the plan has its challenges, deciding what to do and how to do it is marketing’s greatest challenge. Most marketing plans kick off with the first of the year or with the opening of your fiscal year if it’s different.

Who should see your plan? All the players in the company. Firms typically keep their marketing plans very, very private for one of two very different reasons: Either they’re too skimpy and management would be embarrassed to have them see the light of day, or they’re solid and packed with information . . . which would make them extremely valuable to the competition.

You can’t do a marketing plan without getting many people involved. No matter what your size, get feedback from all parts of your company: finance, manufacturing, personnel, supply and so on–in addition to marketing itself. This is especially important because it will take all aspects of your company to make your marketing plan work. Your key people can provide realistic input on what’s achievable and how your goals can be reached, and they can share any insights they have on any potential, as-yet-unrealized marketing opportunities, adding another dimension to your plan. If you’re essentially a one-person management operation, you’ll have to wear all your hats at one time–but at least the meetings will be short!

What’s the relationship between your marketing plan and your business plan or vision statement? Your business plan spells out what your business is about–what you do and don’t do, and what your ultimate goals are. It encompasses more than marketing; it can include discussions of locations, staffing, financing, strategic alliances and so on. It includes “the vision thing,” the resounding words that spell out the glorious purpose of your company in stirring language. Your business plan is the U.S. Constitution of your business: If you want to do something that’s outside the business plan, you need to either change your mind or change the plan. Your company’s business plan provides the environment in which your marketing plan must flourish. The two documents must be consistent.

The Benefits of a Marketing Plan

A marketing plan, on the other hand, is plump with meaning. It provides you with several major benefits. Let’s review them.

  • Rallying point: Your marketing plan gives your troops something to rally behind. You want them to feel confident that the captain of the vessel has the charts in order, knows how to run the ship, and has a port of destination in mind. Companies often undervalue the impact of a “marketing plan” on their own people, who want to feel part of a team engaged in an exciting and complicated joint endeavor. If you want your employees to feel committed to your company, it’s important to share with them your vision of where the company is headed in the years to come. People don’t always understand financial projections, but they can get excited about a well-written and well-thought-out marketing plan. You should consider releasing your marketing plan–perhaps in an abridged version–companywide. Do it with some fanfare and generate some excitement for the adventures to come. Your workers will appreciate being involved.
  • Chart to success: We all know that plans are imperfect things. How can you possibly know what’s going to happen 12 months or five years from now? Isn’t putting together a marketing plan an exercise in futility . . . a waste of time better spent meeting with customers or fine-tuning production? Yes, possibly but only in the narrowest sense. If you don’t plan, you’re doomed, and an inaccurate plan is far better than no plan at all. To stay with our sea captain analogy, it’s better to be 5 or even 10 degrees off your destination port than to have no destination in mind at all. The point of sailing, after all, is to get somewhere, and without a marketing plan, you’ll wander the seas aimlessly, sometimes finding dry land but more often than not floundering in a vast ocean. Sea captains without a chart are rarely remembered for discovering anything but the ocean floor.
  • Company operational instructions: Your child’s first bike and your new VCR came with a set of instructions, and your company is far more complicated to put together and run than either of them. Your marketing plan is a step-by-step guide for your company’s success. It’s more important than a vision statement. To put together a genuine marketing plan, you have to assess your company from top to bottom and make sure all the pieces are working together in the best way. What do you want to do with this enterprise you call the company in the coming year? Consider it a to-do list on a grand scale. It assigns specific tasks for the year.
  • Captured thinking: You don’t allow your financial people to keep their numbers in their heads. Financial reports are the lifeblood of the numbers side of any business, no matter what size. It should be no different with marketing. Your written document lays out your game plan. If people leave, if new people arrive, if memories falter, if events bring pressure to alter the givens, the information in the written marketing plan stays intact to remind you of what you’d agreed on.
  • Top-level reflection: In the daily hurly-burly of competitive business, it’s hard to turn your attention to the big picture, especially those parts that aren’t directly related to the daily operations. You need to take time periodically to really think about your business–whether it’s providing you and your employees with what you want, whether there aren’t some innovative wrinkles you can add, whether you’re getting all you can out of your products, your sales staff and your markets. Writing your marketing plan is the best time to do this high-level thinking. Some companies send their top marketing people away to a retreat. Others go to the home of a principal. Some do marketing plan development at a local motel, away from phones and fax machines, so they can devote themselves solely to thinking hard and drawing the most accurate sketches they can of the immediate future of the business.

Ideally, after writing marketing plans for a few years, you can sit back and review a series of them, year after year, and check the progress of your company. Of course, sometimes this is hard to make time for (there is that annoying real world to deal with), but it can provide an unparalleled objective view of what you’ve been doing with your business life over a number of years.

Source: http://www.entrepreneur.com/article/43018

Posted in Marketing Strategy | Tagged , , , , , ,

How Much Does a Website Cost?

By: Chris Foss, Published August 31, 2014

Over the past 18 years, I have written thousands of website proposals – for design, development, hosting, and/or marketing (SEO) – for companies and organizations of every size and (just about) every industry. Some people want a basic brochure website, others might want full online marketing strategies, while others ask for things that are, literally, impossible to develop. Everyone, however, always wants to know:

“How much will this website cost?”

And after 18 years, my answer is still the same. Websites can cost anywhere from free to more than $100 million, it all depends on what you want to actually achieve online.

Let’s discuss the design and build first

To start, ask yourself a few questions.

1. Are you looking to sell products online or include any ecommerce?
2. Do you require backend integration with any internal databases or systems (CRM, AMS, Inventory/warehouse system, accounting)?
3. Is your website primarily a marketing and informational site?
4. How tech savvy is your staff?
5. How established is your brand (i.e. will your web design be creating everything from scratch or do you have established brand guidelines)?

Finally, one of the toughest questions of all: how valuable is this website to your business or organization? If your business is a local Burger King franchise, then a website, while important, is not overly valuable compared to the rest of your marketing and operational needs. However, if your business is an online dating service, where the website IS the business, then obviously the design and build of the website will require much more attention and ongoing development.

Ok, so how much should I budget for my website?

Now that you’ve asked yourself some important questions, let’s get down to at least some budget ranges.

Cost of Basic Websites

website-costs-300x297For many small businesses, a basic website is a great place to start. These types of websites can range from FREE (but be careful what you sign up for!) to around $5,000. A basic website is typically 3-10 pages and really just focuses on providing basic information about the business – who you are, what you offer, and how to contact you. A website company will typically stylize an existing theme or template and work with clients to build out these sites for $4,000-$5,000.

Cost of Custom Websites

I truly believe that all businesses should eventually have a custom or advanced website. Basic, template websites are fantastic for businesses starting out with a limited budget, but for a website to truly work for you and generate an ROI, you should consider a Web firm to build you a custom design website. After all, look at any successful website that you visit on a regular basis. Are any of them templates? No. And there is a good reason for that.

A firm will work with you to build a custom design website, and the process should start with in-depth discussions about your target audiences, corporate culture, online business goals, and behavior/conversion goals. A custom site should be developed to successfully address all of these points in order to establish a strong, effective website for your business or organization. Custom website designs typically fall anywhere from $9,000 – $20,000; however, depending on the size and requirements of your website, the cost can certainly fall above this range.

Cost of Advanced Websites

Advanced websites are really any project that goes beyond a marketing/informational website. These are websites that include ecommerce, highly interactive features, backend integration, and custom programming. Projects like these are spec’d out on a case-by-case basis and can cost anywhere from $20,000 to several million dollars.

Marketing Costs

As you can imagine, marketing costs can also vary greatly simply because there are a wide range of marketing services that we can apply to any website. Typical engagements with a firm include SEO services, social media campaigns, email marketing efforts, and consulting with online advertising. Marketing costs are usually centered around ongoing efforts and measurable marketing goals that we establish directly with you. Based on these efforts and deliverables, marketing costs typically range from $500/mo to $5,000/mo, again, depending on how involved, and how aggressive, you want your web firm to be.

Additional Costs

As you finalize your budget, keep in mind some of these additional costs as well.

1. Purchasing a domain name ($10-$20/year)
2. Hosting (usually $20-$100/mo depending on hosting needs)
3. Ongoing Maintenance – Don’t forget about this one. Despite how perfect the website might be at launch, within a few months, you can already start making upgrades. Platforms and plugins need upgraded and new functionality/new designs can always improve your site. You should plan to evolve your website on a regular basis, and this is usually provided on either an “as needed” basis or through a maintenance retainer.
4. Security Certificate for forms with private information or ecommerce ($200/yr)
5. Stock Photography ($20-$100 per image) or Professional Photography if needed
6. Video production if needed

Read more at http://www.business2community.com/online-marketing/much-website-cost-0987537#SdyRbhIFQFhkk4Vk.99

Posted in Online Marketing | Tagged , , , , , , ,

8 Ways to Make Your Marketing Message Stand Out

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In Market Like You Mean It, marketing expert Al Lautenslager explains how you can engage your customers, create brand believers and gain fans for everything you sell. In this edited excerpt, the author describes eight strategies you can use to make your marketing messages cut through the media clutter that your prospects and customers see every day.

How does a marketer stand out in the crowded marketing storm? How can you hit your target market right between the eyes and cut through the media clutter that’s all around you? Answering these questions represents the holy grail of marketing.

Every day there are new messaging ideas and repurposed content from thought leaders and marketers of all types. If your messages are part of that clutter, your goal is to lift them above the clutter and get noticed. Here are eight essentials to consider as you start off and move closer to that marketing holy grail:

1. Focus on solutions. This is what customers are really looking for. And when there’s demand, half of your marketing job is done. Products and services that have a high demand get noticed early and often. Give your target market what they want or what they’re interested in looking at. Offer something that shouts “I’m a problem solver” or “I’m a solution” quickly, and your message will get noticed.

2. Aim at your target market. Marketing that doesn’t hit its intended target is classified as a waste, inefficient or junk (as in “junk mail”). Marketing that does hit its target market is classified as interesting, effective and very efficient. The key here is to give your target market something that interests them. If you’re a senior citizen interested in classical music, a direct-mail piece about the newest music releases for the latest rock-and-roll bands won’t do the job — you’re not part of the rock-and-roll music target market.

3. Use headlines and subtitles. Make these titles (and subtitles) provocative, thought-provoking, extreme and completely unexpected. One of the best headlines I’ve seen–one I know got noticed–was “Things the Government Won’t Tell You About Terrorism.” Another one that garnered equal attention was “7 Mistakes Banks Make Every Day.” Both would get attention and make people want to read more.

4. Have a crystal-clear message. Graphics can get attention, but don’t let them overwhelm your marketing to the point where your message isn’t being communicated. The famous advertising guru David Ogilvy once said, “I do not regard advertising as an entertainment or an art form but as a medium of information. When I write an advertisement, I don’t want you to tell me that you find it creative. I want you to find it so interesting that you buy the product.” You can’t bore people into taking notice with boring or unclear messages.

5. Try extreme marketing messaging. The truth is, extreme marketing works. Things that state the opposite, the negative and mistakes get attention. Here are examples of headlines or messages that get noticed because of their extreme nature:

•How to Run Your Company into the Ground in One Week
•How to Make Your Salespeople 10 Percent More Efficient
•How I Grew Profits by 0.005 Percent

All these headlines would probably get your attention and make you want to read on because of their extreme nature.

6. Offer a marketing hook. This is another way to get noticed that’s especially prevalent in content marketing circles today. Simply put, information is offered as an incentive for additional contact. This “hooks” a prospect, setting the stage for further communication. Here are a few examples of hooks:

•Call us today for a free mortgage loan calculator.
•Download a free recipe ebook that uses our spices and seasonings.
•Stop by today for a free vase for your Mother’s Day flowers.

All these hooks offer something of value to an interested prospect. They’ll all increase not only the attention your pieces get but your response rates as well.

7. Leverage odd items, shapes, and sizes. Another thing to consider when you want your pieces to stand out from the crowd is to create something that’s a different size or has a different tone or is otherwise outside the normal format. This includes odd-shaped mailing pieces, extreme colors or messages, and choosing unusual times at which to approach your target market, like talking about Christmas in the spring. Carlsbad Brewery once dropped fake passports in the New York City subway system to notify their target market about a new product they were launching. Finding a passport on the subway was unexpected; it’s not something you see every day. Carlsbad’s messages got noticed.

8. Answer directly “What’s in it for the prospect?” Holiday Inn Express advertised that their motels had the “number-one customer-rated showerhead.” Have you ever been asked to rate a showerhead? Holiday Inn discovered this was important to their target market and communicated that message directly to them. You can listen and read all about the features of a Holiday Inn Express, but hearing about the number-one customer-rated showerhead speaks to something all visitors want. What’s in it for them? A superior shower. Superior showers get noticed.

Standing out from the marketing clutter will always be a marketer’s challenge. Starting with these fundamentals will help you break through.

Source: http://www.entrepreneur.com/article/235120

Posted in Marketing Strategy | Tagged , , , ,

MARKETING 101

In order to successfully grow your business, you’ll need to attract and then work to retain a large base of satisfied customers. Marketing emphasizes the value of the customer to the business, and has two guiding principles:

1. All company policies and activities should be directed toward satisfying customer needs.
2. Profitable sales volume is more important than maximum sales volume.

To best use these principles, a small business should:

• Determine the needs of their customers through market research • Analyze their competitive advantages to develop a market strategy • Select specific markets to serve by target marketing
• Determine how to satisfy customer needs by identifying a market mix

Marketing programs, though widely varied, are all aimed at convincing people to try out or keep using particular products or services. Business owners should carefully plan their marketing strategies and performance to keep their market presence strong.

Conducting Market Research
Successful marketing requires timely and relevant market information. An inexpensive research program, based on questionnaires given to current or prospective customers, can often uncover dissatisfaction or possible new products or services.

Market research will also identify trends that affect sales and profitability. Population shifts, legal developments, and the local economic situation should be monitored to quickly identify problems and opportunities. It is also important to keep up with competitors’ market strategies.

Creating a Marketing Strategy
A marketing strategy identifies customer groups which a particular business can better serve than its target competitors, and tailors product offerings, prices, distribution, promotional efforts and services toward those segments. Ideally, the strategy should address unmet customer needs that offer adequate potential profitability. A good strategy helps a business focus on the target markets it can serve best.

Target Marketing
Most small businesses don’t have unlimited resources to devote to marketing; however, the SBA wants you to know that you can still see excellent returns while sticking to your budget if you focus on target marketing. By concentrating your efforts on one or a few key market segments, you’ll reap the most from small investments. There are two methods used to segment a market:

1. Geographical segmentation: Specializing in serving the needs of customers in a particular geographical area.
2. Customer segmentation: Identifying those people most likely to buy the product or service and targeting those groups.

Managing the Market Mix
Every marketing program contains four key components:

1. Products and Services: Product strategies include concentrating on a narrow product line, developing a highly specialized product or service or providing a product-service package containing unusually high-quality service.
2. Promotion: Promotion strategies focus on advertising and direct customer interaction. Good salesmanship is essential for small businesses because of their limited advertising budgets. Online marketing is a cheap, quick, and easy way to ensure that your business and product receive high visibility.
3. Price: When it comes to maximizing total revenue, the right price is crucial. Generally, higher prices mean lower volume and vice-versa; however, small businesses can often command higher prices because of their personalized service.
4. Distribution: The manufacturer and wholesaler must decide how to distribute their products. Working through established distributors or manufacturers’ agents is generally easiest for small manufacturers. Small retailers should consider cost and traffic flow in site selection, especially since advertising and rent can be reciprocal: a low-cost, low-traffic location means spending more on advertising to build traffic.

The aforementioned steps combine to form a holistic marketing program.
The nature of the product or service is also important in citing decisions. If purchases are based largely on impulse, then high-traffic and visibility are critical. On the other hand, location is less of a concern for products or services that customers are willing to go out of their way to find. The Internet makes it easy for people to obtain goods from anywhere in the world, so if you’re worried about reaching a certain market, selling your product online may do wonders for your business.

Source: http://www.sba.gov/content/marketing-101-basics

Posted in Marketing Strategy | Tagged , , , , ,

10 Low-Cost Ways to Market your Business

Too many small-business owners think marketing is like a trip to the dentist — something you just gotta do every six months or so.

But when marketing is continuous and targeted rather than occasional and shotgun, business gets easier. If prospects have a positive view of your wares and reputation before you call or before they start shopping, you’re that much closer to nailing a sale.

The next news flash is that ongoing marketing isn’t tied to a price tag. It’s defined only by putting the right message in front of the right person at the right time.

Here are 10 ideas for doing that — on the cheap.

1. Take steps to make customers feel special. Customers respond to being recognized, especially in these rush-rush, get-the-lowest-price times. “Even with a Web-based business, good customer service is possible,” says Denise McMillan, co-owner of Plush Creations (www.plushcreations.com), an online retailer of handcrafted travel bags. McMillan encloses a small, rose-scented sachet in every jewelry and lingerie bag she sells and also sends a handwritten thank-you note. “The sachet and note cost pennies but add something special to the purchase,” she says.

2. Create business cards that prospects keep. Most business cards are tossed within hours of a meeting. Instead of having your card tossed, create one that recipients actually will use — say, a good-looking notepad with your contact info and tagline on every page. “The business card notepad is referred to almost daily, kept for 30 days or so and carries a high remembrance factor,” says Elliott Black, a Northbrook, Ill., marketing consultant who specializes in small businesses.

3. Stop servicing break-even customers. If this idea makes you gasp, think harder. You’re falling for the fallacy of increasing sales instead of boosting profits. If you stop marketing to unprofitable customers, you have more time and resources for customers who actually grow your business. “More than likely, 20% of your customer base is contributing 150% to 200% of total annualized profit (TAP); 70% is breaking even; and 10% is costing you 50% to 100% of TAP,” says Atlanta marketing consultant Michael King. Take a detailed look at your customer profitability data and then direct premium services and marketing to customers who count. (Microsoft Outlook 2010 with Business Contact Manager can help you analyze customer histories.)

4. Develop an electronic mailing list and send old-fashioned letters. Most businesses have harnessed the power of e-newsletters — and you definitely should be sending out one, too. It’s very cost-effective. But exactly because e-mail marketing is now nearly ubiquitous, you can quickly stand out by occasionally sending personal, surface mail letters to customers and prospects. Just make sure the letter delivers something customers want to read, whether an analysis of recent events in your field, premium offers or a sweetener personalized for the recipient (a discount on his next purchase of whatever he last purchased, for instance). “This mailing has to have value to those that read it, so it reflects the value of what you offer,” says Leslie Ungar, an executive coach in Akron, Ohio. “Remember, the best way to sell is to tell.”The process is simplified by creating a letter template and envelope or customer label mailing list in Microsoft Office Word in Office 2010, which you can print out. The mailing list is easily created in Excel and then imported into Word.

5. Boost your profile at trade shows and conferences. You can quickly create signage, glossy postcards with your contact information, product news inserts or an event mini Web site — all with Microsoft Office Publisher. Check out its versatile features.

6. Combine business with pleasure — and charity. Spearhead an event, party or conference for a cause you care about. That puts you in the position of getting to know lots of people, and shows off your small business leadership skills. “I host an annual baseball game where I take hundreds of clients to a Cubs game at Wrigley Field,” says Kate Koziol, who owns a public relations agency in Chicago. “Last year, I took 300 people and we raised $10,000 for a local children’s hospital. Few people turn down a game and it’s a great networking opportunity for guests. It lets me reconnect with current clients and impress potential clients.”

7. Create a destination. Bookstore chain Barnes & Noble has its coffee bars. Furnishings giant Ikea offers child-care centers and cafeterias. Why? So customers gravitate to the stores to enjoy an experience, to hang out for a while. Sunday morning at Barnes & Noble becomes a pleasant weekend routine, rather than a shopping errand. Steal this idea. This tip isn’t limited to offline destinations, either. Using pay-per-click advertising, you can cheaply drive traffic to a one-time news event or specialty offerings, points out Jay Lipe, a small-business marketing consultant based in Minneapolis. Lipe set up a Web site for Games by James (www.gamesbyjames.biz), a retailer of board games, and quickly attracted customers via pay-per-click ads. “The effect was overnight,” says Lipe. “Traditionally in the marketing world, it takes weeks or even months to generate acceptable awareness and traffic. Here we saw traffic spike overnight.”

8. Become an online expert. This is the “free sample” approach to bringing in business. Research active e-mail discussion lists and online bulletin boards that are relevant to your business and audience. Join several and start posting expert advice to solve problems or answer questions. You may need to keep this up for a bit. But the rewards come back in paying clients and referrals. “E-mail discussion lists have been my single largest source of clients over the last eight years,” says Shel Horowitz, a small-business marketing consultant based in Northampton, Mass.

9. Court local media. Editorial features convey more credibility with prospective clients than paid advertising does. To get coverage from the local media, whether from the town newspaper, from TV or radio stations, or from trade journals, you need a fresh, timely story. It’s usually worthwhile to hire an experienced publicist to position the stories, target appropriate media representative and write and send press releases. Usually, you can work on a short-term or contingency basis.

10. Finally, don’t let customers simply slip away. Make an effort to reel them back in. It costs a lot less to retain a disgruntled or inactive customer than to acquire a new one. If you haven’t heard from a customer in awhile, send a personalized e-mail (you can automate this process), inquiring whether all is well. For a customer who suffered a bad experience, pick up the phone, acknowledging the unpleasantness and ask if there’s anything you can do. A discount can’t hurt either. Being kind to customers is the smartest low-cost marketing you can do.

Source: http://www.microsoft.com/business/en-us/resources/marketing/customer-service-acquisition/10-low-cost-ways-to-market-your-business.aspx?fbid=uMphmXSrgZ2

Posted in Marketing Strategy | Tagged , , , , ,

Three Effective, Budget-friendly Ways to Advertise Your Small Business Online

Pay-Per-Click Ads
I’m always surprised when a small business doesn’t take advantage of pay-per-click advertising. Usually they reason it out of their budget by saying that it’s only useful for big companies with a widespread brand — that couldn’t be more wrong. Google AdWords, for example, is one of the most targeted forms of advertising you can buy into. They even recently launched Google AdWords Express , which automatically determines the most common search phrases for your type of business and plugs your ad anytime those phrases are searched for by someone who lives close to you. If nothing else, it increases awareness as people begin to see your business’s name pop up in their search results. It is also cheap, and the analytics are easy to digest, so there isn’t any reason to not test it out at least once.

Blogging
Cross-blogging remains one of the best ways for people to find out about your business, especially if your business is based online. You send in a couple of articles to different media outlets related to your industry from time to time, and people will begin to see your name, your picture, and the name of your company popping up all over the place. Remember, though, that you can’t just write advertisements and expect the readers to only want to read posts about how great your brand is. We cross-blog with a few different businesses, and while the majority of our blogging partners are great, there are a few who think assaulting readers with a blatant advertisement about their company is a good use of a blog post. When you do blog remember that what you write needs to convince the reader to trust you enough to take your opinion seriously. Look to writing up posts on how-to topics, stories about your successes and failures, and lessons learned in the business to start building up trust and a distinctive voice for your company. If all your post amounts to is ‘BUY MY STUFF NOW BECAUSE WE’RE THE BEST!’ that trust will not be built.

Social Media Marketing
And that doesn’t just mean using Facebook, even though Facebook is an important part of any good social marketing strategy. Small business owners sometimes struggle with social marketing, unsure of what kind of content or message they should be posting, or even where they should be posting it. Facebook, Twitter, and Google+ are the main three sites your business should have a page on. Facebook and Twitter have a strong user base, and Google features Google+ profiles in local search results, making it easier for your business to stand out from the competition. As for content, it is okay to occasionally advertise specials and sales – these deals are one of the main reasons people follow the social accounts of businesses – but mainly social marketing should be used to better connect with your customers and keep your business at the forefront of their mind. If you constantly advertise, they will either tune you out or unfollow your accounts. They are doing you a favor by following you and allowing your business to maintain this ongoing conversation, so treat that relationship with a bit of respect. Unless you outsource or hire someone else to handle them, the biggest expense that cross-blogging and social marketing accrue is time. Pay-per-click advertising, especially if you are a smaller business, costs very little. But all three of these new marketing channels can really help new customers find your business, as long as they are used correctly. A well-placed Google advertisement and active Facebook profile may not get you the same attention as a $4-million Super Bowl spot, but it will help your business to grow and establish strong relationships with your customers.

Source: http://www.huffingtonpost.com/deborah-sweeney/three-effective-budget-fr_b_3690082.html

Posted in Online Marketing | Tagged , , , , , , ,

Why Social Media Is Far More Important Than You Think

The growth of social media as an influencing factor in our lives is truly breathtaking.

91% of American adults who are online use social media. Nearly a quarter of the total time spent online is on social networks. There are now over 800 million Facebook users in the world, with more than 200 million joining in 2011 alone. Nearly 40% of those 800 million log in every single day. It is not just Facebook that’s growing either – Twitter is adding half a million users on a daily basis, and there is a new kid on the block that has managed to attract over 90 million users in just over half a year.

Why Is This Relevant To Me?
It is relevant to you because you own a brand. It doesn’t matter if you are a part-time blogger, a small business, or a huge corporation – you have a brand. And if you have any interest in furthering your brand, you cannot ignore social media. And social media doesn’t want to ignore you. Over half of social networkers follow a brand. Moreover, 56% of consumers say that they are more likely to recommend a brand as a fan. That’s right – half of your customers are just waiting for you to reach out to them, and they are primed to promote your brand for you. You may be shrugging your shoulders at this point. You probably already use social media. But I’m willing to bet that you don’t value the power of social media as much as you should.

The True Value Of Social Media Users
When it comes to the internet, a social media consumer is the best type of consumer. There is ample evidence to effectively argue that social media users are far more active and influential than the average internet user.

Gigya recently published data gleaned from their onsite social media login platform. Analysis of the data provides some pretty fascinating insights. They found that on websites with social login functionality, logged-in users spend 50% more time on site, and view twice as many pages, than those who do not log in. The data strongly suggests that statistically speaking, people always want to be social, regardless of where they are on the web.

But that’s not all – social media types will give you more money too. Take these statistics, for instance, relating to social media users:
• 75% are more likely to be heavy spenders on music
• 47% are more likely to be heavy spenders on clothing, shoes and accessories
• 26% are more likely to give their opinion on politics and current events
• 44% are more likely to give an opinion on television programs

Social media users spend the most, and are more influential on their peers, than the average internet user. They are exactly the kind of people you want to attract to your brand.

Here’s the kicker – even if you already pour an enormous amount of time and resources into social media, you probably aren’t doing it in the most effective way possible (best case scenario), or you are getting it completely wrong (worst case scenario).

So let’s explore what you should be doing to make the best use of social media in marketing your brand.

It’s Not All About Facebook
Facebook is undoubtedly the king in terms of market share, but they should not necessarily be the primary social media network that you target. Consider this – 40% of people who login via Gigya’s platform use social media logins other than Facebook. Nearly half of social media users prefer alternative platforms.

When formulating a social media strategy, you should consider the makeup and target demographics of your brand. Depending on who you are targeting, Facebook may make up less than half of your target audience. Consider these facts:
• Twitter has the wealthiest users
• Facebook has the oldest users
• Digg has the best educated users
• StumbleUpon is a haven for graphic designers

When it comes to dividing your focus amongst social media networks, you would do well to consider how your resources are best allocated. The StumbleUpon fact is there as more of a wildcard than an actionable piece of data – it demonstrates that there is much more to social media success than throwing all of your eggs in the Facebook basket.

The Importance Of Interaction And Incentive
As with many things in life, social media will only give you as much as you put in. The key to social media success boils down to two factors – interaction and incentive.

Interaction
The same Gigya study mentioned above showed that people spend the most time on websites when they are commenting. Or to put it more generally, visitors spend the most time on websites where they can voice and share their opinions. If you can engage with visitors to your site, they will hang around for longer. And the longer they hang around, the better exposed they are to your brand.

You can get ahead of the game when it comes to social media interactivity by following two simple steps:
1. Do not automate
2. Communicate

Auto-posting to Facebook decreases likes and comments by 70%. If you are going to autopost, you may as well not waste your time in setting it up and do something else instead. And nearly four out of every five consumers interact with brands on Facebook primarily through reading posts and updates from the brands.

Even though interaction is so plainly important, 95% of Facebook wall posts are not answered by brands. That’s a whole load of brands missing out on a whole load of potential.

Incentive
Increasing your follows or likes is not rocket science. Effective growth is generated by a strategy based upon a very simple principle – people will rarely do something for nothing. Generally speaking, people will follow you because they get something in return. The majority of people choose to follow a brand for one of two reasons:
1. They are already a customer
2. They want to receive discounts and promotions

The first group will take care of themselves – as long as you effectively promote your social media presence, they will come across you, follow you, and begin to spread the word. It is the second group that you need to focus on primarily. In order to gain their attention, you must incentivize. Don’t just slap up a Facebook page and expect the likes to roll in – give them a reason.

Takeaways
There is a lot of information to digest in this article, and a lot of strategizing to follow, no doubt. However, there are three clear and simple facts to take away:
1. Social media is vital to the growth of your brand
2. There are right ways and wrong ways of using social media
3. You should do it the right way

Social media does not have to be wildly overcomplicated. Just concentrate on offering value, incentivizing, and interacting.

The rest will follow.

Source: https://managewp.com/the-importance-of-social-media

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The Importance of Marketing for the Success of a Business

The heart of your business success lies in its marketing. Most aspects of your business depend on successful marketing. The overall marketing umbrella covers advertising, public relations, promotions and sales. Marketing is a process by which a product or service is introduced and promoted to potential customers. Without marketing, your business may offer the best products or services in your industry, but none of your potential customers would know about it. Without marketing, sales may crash and companies may have to close.

Getting Word Out
For a business to succeed, the product or service it provides must be known to potential buyers. Unless your business is known in the community and have communication with your customers readily available, you have to use marketing strategies to create product or service awareness. Without marketing, your potential customers may never be aware of your business offerings and your business may not be given the opportunity to progress and succeed. Using marketing to promote your product, service and company provides your business with a chance of being discovered by prospective customers.

Higher Sales
Once your product, service or company gets on the radar screen of your prospects, it increases your chances that consumers will make a purchase. As awareness becomes a reality, it is also the point where new customers start to spread the word, telling friends and family about this amazing new product they discovered. Your sales will steadily increase as the word spreads. Without employing marketing strategies, these sales may not have ever happened; without sales, a company cannot succeed.

Company Reputation
The success of a company often rests on a solid reputation. Marketing builds brand name recognition or product recall with a company. When a company reaches the high expectations of the public, its reputation stands on firmer ground. As your reputation grows, the business expands and sales increase. The reputation of your company is built through active participation in community programs, effective communication–externally and externally–and quality products or services, which are created or supported by marketing efforts.

Healthy Competition
Marketing also fosters an environment in the marketplace for healthy completion. Marketing efforts get the word out on pricing of products and services, which not only reaches the intended consumers, but also reaches other companies competing for the consumers’ business. As opposed to companies that have a monopoly on products and services that can charge almost any price, marketing helps keep pricing competitive for a business to try to win over consumers before its competition does. Without competition, well known companies would continue to sell while lesser known companies or new companies would stand little chance of ever becoming successful. Marketing facilitates the healthy competition that allows small businesses and new businesses to be successful enter and grow in the marketplace.

Considerations
Although marketing is hugely important for a business to succeed, it can also be very expensive. In its first year, a company might spend as much as half of its sales on marketing programs. After the first year, a marketing budget can reach as much as 30 percent–sometimes more–of the annual sales. A marketing program that gives your company the best chance is a healthy mix of different forms of marketing, such as website development, public relations, print and broadcast advertising, design and printing for all print materials, trade shows and other special events.

Source: http://smallbusiness.chron.com/importance-marketing-success-business-589.html

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