Monthly Archives: July 2013

Formulating a Marketing Strategy

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Strategy is a plan that defines the ways to attain objectives and goals. The objectives of an entity define what the entity wants to achieve, whereas strategy spells out how to achieve those. Hence before framing strategies it is a prerequisite to define the objectives. Internet promotion, due to its many advantages, is increasingly being included, by business entities, in their overall promotion strategy. Like all promotion plans internet marketing plan is also allocated a budget.

The digital strategy includes domain acquisition, website(s) design plan and marketing plan; the implementation of digital marketing is done through SEO, PPC and Social networking. Few tips of implementing digital strategy can be creating professional groups like LinkedIn group, publishing content on niche blogs, creating videos for You tube, writing on industry issues, writing online press releases, running contests, blogging, building a network on Facebook and advertising on twitter. Implementation of digital strategy needs to be backed by a well thought content strategy. Content should be developed keeping in mind the needs and preferences of the target audience and should be interesting. Internet users are users who typically search for information, learn, share, research and shop. Different types of content is needed to cater to these different types of internet usage, for example, advertisement content can have catchy one liners, sales promotion can announce benefits and discounts, whereas research content needs to be informative and interesting. Content can also be enhanced by using graphics and audio visual aids. The entire content strategy aids in developing the brand.

One of the many advantages of internet promotion is measurability. Implementation of strategy will yield results, and these results should be measured periodically and compared with the goals and targets, for monetary goals, the results can be compared with the investments made. If the results are favorable, then present strategy should be continued and further strengthened; however, if results are not favorable or lacking, then one or more of the strategies should be revised. Changeability and manageability is another advantage of the online medium of promotion. No other medium of promotion allows such ease of introducing changes.

The effectiveness of online promotion can be gauged by data and source on visits, bounce rate, pages per visit, search keywords, traffic from search engines, enquiries and sales. Such data can be tracked by setting up analytics account such as Google analytics account through main Google account. The data so obtained can help in analyzing the number of visits attained, the sources from which these visits were generated, the number of visits converted to sales etc.

Marketing Intelligence and Research

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In today’s competitive environment, where consumer has a plethora of choices, knowing the market is becoming a necessary condition, not only to grow but even to survive. A firm should continuously gather information regarding the market, as such information would provide the marketing decision makers clues for formulating and adapting their marketing strategies.

Marketing Strategies relate to what the company wants to offer (the product or service or both),the pricing of the offer, the promotion of the product or service and the way the product/service should be made accessible to the customers (distribution of the product).Marketing strategies also relates to who the company wants to sell its product or service to, whether the product is for everyone or targeted to any particular group of people (segmentation)

Firms can get market related information from their internal records, marketing intelligence and marketing research setups. Marketing intelligence refers to how managers can obtain regular information regarding important external developments affecting the firm. Marketing research refers to a systematic investigation procedure to discover facts or collect information regarding particular aspect related to marketing. For gathering marketing intelligence and undertaking market research firms can take the help of marketing consultancies. Marketing consultancies keep on gathering relevant information on various trades and can provide useful suggestions for improving sales, growth, coverage, brand name etc. They can also suggest and provide information regarding industry and market characteristics and trends, product/service pricing, product development, distribution, promotion and buyer behavior. Marketing consultancies also provide useful suggestions and information to start-ups and even existing firms who want to enter any new market or introduce any new product. Marketing consultancies can also help firms gather data from internal records including online records and present it as useful information.

Services of a Marketing Consultancy are particularly useful when a firm does not have its own set ups for gathering marketing intelligence and market research; such set ups require time and investments and risk in the sense that the firm may not be able to earn as much as it has had to spend; hence it is advisable to focus on the sales, not miss the wave and seek outside help and incur operational costs instead of capital costs. Even firms, which have in-house setups, may find services of a marketing consultancy useful for augmenting its marketing efforts.

These days it is important to have a strong physical as well as a virtual presence. Marketing Consultancies can provide firms useful suggestions on how to best design their web sites and online stores so as to maximize traffic and reach their target audience.

 

How sales and marketing consultancies work

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Sales and marketing consulting firms offer a variety of services to their clients. The services offered by sales and marketing consultancies help companies in developing their business. But, does anybody know about the work process of these consulting firms?  The consulting firms have a lot of experience in the field of sales and marketing. Based on their experience, they guide their clients for increasing their profits.  There are a number of consulting firms that use different tools and techniques to help their clients. Digital promotion is one such tool used these days to increase the returns of your business. Alcopromotions.com is one such platform that provides a variety of services to their clients at affordable rates.

If we have a look at how the digital promotion works, we will find that it is an innovative method to serve the present trends while working on the existing opportunities. Through digital promotion, the consultancies enforce their workspace with different campaigns to increase online awareness. As a result of which, new revenue streams are generated whose primary focus is mobile and digital merchandise.  To seal any deal with the client, cheap production costs can be suggested to the clients. This is an effective advertising method, where the products can be launched based on the demand of the market. To make people buy new products, they can be launched during festivals and other celebrations.

The sales and marketing consultancy like – alcopromotions.com is beneficial for not only the companies, but also for the consumers. They pick data and information from various online sites, and analyze it to know about the interests of the customers. The customers are provided with accurate information like – company details, pricing, advantages, reviews etc on a variety of products. This will help the customer to choose a right product for their needs. Similarly, the consulting firm advises consumers to design a product based on the interests of consumers. The launching period of the product and service plays a very important role in increasing it sales. Hence, a sales and marketing consultancy guide the companies on how and when to launch a new product or service. In this way, consulting firms work and cater the needs of consumers as well as companies. To know more about the services offered by the consulting firms and how they work, you can search on the internet. You will be provided with a variety of information that helps you in choosing the right consultancy for your business needs.

Leverage your marketing campaign with digital promotion

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Digital promotion can said to be an effective way of marketing, where the products and services are promoted by creating brand awareness among consumers. Today, most of the organizations use this technique to promote their business and increase their sales. In this method of digital promotion, the products and services of the business are promoted or advertised through electronic media and websites. Some of the commonly used tools in digital promotion include – steamers, signs, promotional activities, brochures and blueprints of websites.    Digital promotion campaigns can fit well in whatever the marketing strategy you are applying. It may take the form of SIM promotion, mobile/music download promotion etc, which will complement the advertising channels and are meant for replacing them. Hence, you are at the benefit of getting channel promotion along with digital promotion. The digital promotions expand your research in the consumer market and improve the awareness of your brand. In short, digital promotions can go a long way and helps in earning the customer loyalty, which is very essential for the growth of your business.

Another advantage of digital promotions is that it is very cost-effective. It attracts almost 5 times more customers than the traditional methods of promotion. Moreover, digital promotion can help you in maintaining the existing customers along with finding new customers. Most of the companies use different promotional techniques like – discount, deals, and special offers etc to maintain customer loyalty. But, a digital promotion works in a different way and boosts your profits by keeping your budget constant throughout. Companies need not have to offer any discount or coupons to promote your business. To promote your business, you can tie up the promotion to fulfill any condition like – buying, upgrading, referring friends etc. For example – You can ask the customer to refer your products to somebody else and get free wallpaper for your Smartphone or PC. On the other hand, you can ask the customer to upgrade to your premium membership and get a skin free for your iPad.  By promoting the products in this way, you will save a lot of money.  Today, most people are techno-savvy and they get attracted easily to the freebies you are giving to promote your products and services.

Digital promotions are one of the excellent campaigns that gain a huge customer loyalty. To know more about the digital promotions, you can visit alcopromotions.com. You will be offered with a variety of services to promote your business and increase its sales.