As there are only weeks left in 2016, many spread betting investors are already looking towards 2017 and what it may have in store. There is no doubt that spread betting is an excellent financial derivative due to the number of underlying assets which can be held. However, a solid portfolio should always include some undervalued blue-chip positions. These can help to offset losses taken within other sectors and the returns involved could be substantial. What are the top five picks that should be considered during the 2017 financial year?
One of the reasons that Tesco PLC has made this list is that it was seen as being substantially undervalued in 2016 (1). While it has been a great buy this year, the same principle should hold true in 2017. Tesco currently owns over 6,500 stores across the globe and yet, no less than 65 per cent of its total revenue is generated within the United Kingdom. In terms of domestic profits, the company should be able to enjoy a leading edge into the foreseeable future.
One of the reasons why some spread betters prefer to delve into the automotive marketplace is that many larger companies tend to closely follow manufacturing data and similar metrics. In other words, Rolls-Royce can serve as a benchmark indicator for the industry and the state of the economy as a whole. Having said this, short-term movements can help to drive in what could prove to be welcome profits. Let us never forget as that both call and put options are available professional spread betters may generate an income even if the values in these shares slide. It is merely a case of correctly predicting such movements.
While Pearson PLC may not be as familiar as Rolls-Royce Holdings or Tesco, this publishing powerhouse should never be overlooked. One of the reasons that 2017 could be a stellar year for Pearson is the fact that the majority of its sales are valued in United States dollars. So, spread betters will look at how the pound is performing against this American currency. Most feel that the value of the dollar will continue to rise; at least during the first half of 2017. So, Pearson could be an excellent means to enjoy medium-term stability within a spread betting portfolio.
There is no doubt that oil has seen a rough ride for the past few years. With values hovering around $50 dollars per barrel, it is a foregone conclusion that such a trend cannot last forever. Technical analysts predict that this commodity will rise to somewhere near $70 dollars during 2017. This will be great news for producers such as BP, a their profits have likewise fallen since the recent financial crisis. This stock is currently undervalued and it is an excellent buy for those who may be looking to embrace both long- and short-term spread betting strategies. It is a good bet that 2017 will be a rather bullish year in terms of oil prices.
Lloyds Banking Group PLC
Many spread betters will choose to have one of their underlying assets of choice to come from the banking sector. Lloyds Banking Group should therefore perfectly fit the needs of some investors; particularly those who have an in-depth understanding of this market. Although the mortgage lending sector has taken a dip during 2016, the savings sector has grown. Lloyds comprises no less than 25 per cent of the savings market within the United Kingdom and this bodes well for future performance. However, this can be a volatile landscape and it is normally prudent to look at short-term yields as opposed to long-term commitments.
It is important to realise here that these are only recommendations and past performance is not necessarily an indicator of future returns. Still, the proactive monitoring tools found at CMC Markets will enable an astute spread better to make all of the most appropriate decisions when they matter the most. Much like 2016, 2017 could very well be a rather volatile trading year. Preparing in advance is the best way to take advantage of such movements.
Video has gradually emerged as the foremost effective brand-marketing tool in contemporary business. A report by Forrester Research has shown that over 76% of online shoppers discover a company more reliable if this features visual content on its site. To appreciate the popularity of the promotional tool, consider a report by Etail Insights showing that YouTube is now the 2nd largest internet search results, bigger than Yahoo, Bing and all others combined.
If you‘re attempting to find an efficient branding tool, it‘s time to contact a video production company to generate a compelling product. Other compared to the irrefutable statistics, additional practical reasons to make use of this media for that purpose.
Have a look :
1. Encourage Sharing
Consistent with eMarketer, over 80% of viewers share this content on the internet and this means your videos will go viral very easily. When you have thumbnails in your social media platforms, you‘ll more attention instead of any text you‘ve used.
2. Enhanced Engagement
Text messages are arduous to learn and internet users do not possess the time. Whenever you use visuals to elucidate your business and promote it, you should have captivated the eye of many users who desire quick admittance to details on the go. If have the ear of a creative call to action, It‘s simpler to generate leads.
3. Search Engine Optimization (SEO )
This is actually the holy grail of online marketing and when your site is not ranking highly, it‘s time to change tactics by contacting a video production service provider. Visual content gives positive signs to look engines and indeed, It‘s no secret that Google ranks sites with visuals highly. This sort of content also improves conversion helping you build invaluable inbound links driven by visuals you‘ve in your website.
4. Customer Loyalty
The open rate for newsletters and emails containing visual content has ended 200% when compared with texts only consistent with Forrester Research. These marketing tools are crucial in building customer loyalty and if the marketing tool helps retain your visitors and engage new ones, it is very important embrace it before later.
It is effortless to customize your brand using video production instead of texts. Whenever you watch promotional content online, it is extremely easy to recognize your firm even before a couple of seconds from the video plays. It is effortless to use your own personal color themes, logos along with other graphics to link along with your audience and also to increase brand awareness. A tailor-made campaign is great if you need to have a mark with your particular niche.
Brand marketing is the Achilles heel of most businesses because of the costs involved. However, with emergence of affordable and innovative video production, It‘s now possible for startups to contend with established firms with their niche by leveraging versatility of the productions.
Most businesses today depend on various online tools to promote their brand, products or services. In many cases, they do not pay one cent for that marketing strategy since sharing posts on social media sites is free of charge. Therefore, this can be a popular marketing and advertising technique since it is free and any post they share could be seen by millions of potential customers found upon the Internet.
But even in today’s modern world, there will be still some traditional, old-fashioned promotional strategies that can perform wonders for one’s business. Which means that these techniques still work and can also effectively help a business achieve its marketing goals.
What are a few of these traditional promotional strategies that will still work today? Read them below :
Old-fashioned networking. Businesses today usually carry out their networking tasks via the Internet. However, you may also try this inside the real world. Whenever you attend conferences, special events, trade shows, or general meetings, interact using the organizers, speakers, along with other guests. By building your network, you will have higher probabilities of having your company known by many people through referrals or word of mouth.
Always carry some business cards. Be certain the people you meet during events and in other places or situations remember you and also your brand giving them your company card. Business cards provide tangible information for the newly met connections and potential clients. Business cards will also be particularly useful during networking events.
Put money into press releases. Press releases are often published online today. However, you are able to go a measure further and also have them published through traditional means, too. When you have press releases posted online, have them published in local newspapers and magazines. You would not spend an excessive amount for this since you‘ll merely be advertising locally and never nationwide.
Make full use of your respective personal or company vehicles. Go mobile – literally. Use the corporate vehicle, your personal car as well as those of your respective employees as mobile advertising devices. You need not have the entire vehicle spray-painted to advertise your company. Medium-sized stickers would do. You may also consider offering existing loyal customers a discount or perhaps a free product if will let you advertise on the vehicles also.
Promote your company using other products. Lastly, do not underestimate the strength of promotional products, particularly the useful ones. As an example, you sell natural juice and nutritional supplements. Have something printed concerning your products on the edges of water bottles sold locally. Just seek information properly. Start by looking up print marketing advice for ideas on fonts, colors, and proper placement on seperate promotional products.
The Direct Marketing Association states email marketing is economical having a ROI of around 4, 300%. Not all of us have a similar success, so here are a few suggestions to enable one to increase your open rate, create your email list and produce more sales too.
Newsletters are a wonderful way to send out long campaigns. I once joined a membership newsletter where there have been 52 newsletters, an entire years supply that started with advice for newbies and built week by week with increased advanced information. Every week there would be a tip or article to assist you grow your company and yes, I eagerly opened them not missing any, as did other members.
Many emails are boring, no-one wishes to waste their time on boring junk. we want value in exchange for time invested.
An intriguing header having a promise, is probably to obtain your emails opened. Write your emails as if you‘re speaking with only one person, this‘ll get them to feel more personal and produce everyone feel you‘re writing for them. Include some humour, few individuals only want facts, get them to personal. Write with your style which your followers will relate to and open your emails regularly.
There will be two kinds of newsletter emails : One provides you the entire story without clicking elsewhere, another is definitely an enticing introduction to tempt one to an editorial in your website, where there‘s a new video or helpful article. This also keeps your site fresh and keeps the major search engines like google and yahoo visiting.
I watched a webinar recently filled with tips, you may such as this one : Your emails ought to be filled with content its not all selling, but if you get an excellent offer for the list, its not all emails can get opened, so resend then later with a brand new header towards the people that did not open them, repeat again. (Your auto-responder will help you set this up ). Also continue to keep your thanks page work with you by providing another related item on special offer, whilst your buyers have their cards available and therefore are inside a buying mood. Not many marketers try this, however it can help you create your list at no cost, or increase your earnings.
My coach always gives us great tips, so do not plan to learn it alone, find an excellent coach and put on from their experience. Allowed them to conduct the testing of products, they could afford too. They also will find best sellers for the customers. Affiliate marketing with an excellent coach is that the simplest method to begin online. Watch videos on YouTube to locate who you want to work with.
Working online along with your laptop, is a superb why to get some serious amounts of location freedom. I adore the lifestyle wouldn‘t it suit you? Make 2016 a lot of fun to alter career.
What is Marketing?
Marketing is a business discipline through which the targeted consumer is influenced to react positively to an offer. This can relate to the purchase of a product or a service, the joining of an organization, the endorsement of a candidate or ideology, the contribution or investment in a cause or company, or a variety of other choices of response.
The marketer can use a number of techniques to reach the consumer which can be based on artistic or scientific strategies, or a combination of the two.
Usually, the consumer is identified as a member of a particular segment of the populace, known as a market. For example, markets can be defined by age, income, area of residence, home value, interest, buying habits, industry or profession, etc., which facilitates and simplifies the marketing process. Knowing to whom the marketing effort is appealing greatly assists the marketer in developing appropriate language, reasoning and incentives to find success in its marketing efforts.
Choosing to target a particular market as opposed to the entire universe also greatly controls marketing expenditures but also may limit response. If anyone anywhere can be a customer, sales expectations may be higher but marketing costs will certainly also need to be higher as well with such a huge target as its goal.
To address this dilemma, more creative means of marketing are sometimes utilized to assist with marketing message delivery. If what is being marketed is considered newsworthy and of public interest, editorial coverage in the media can greatly assist marketing efforts. Since this usually is not reliant on major marketing funds other than what is needed to support the development, distribution, and yes, marketing of press releases to editors and publishers, the advantages of such publicity can be priceless, albeit usually miraculous on such a large scale.
Marketing is everywhere!
Everywhere we turn, everything we do is somehow connected to marketing, whether we have been induced to participate in some activity because of it or develop an interest in some idea as a result of it. Whether we realize it or not, there are personal, political or commercial agendas cloaked as news we read in the paper, behind the books, movies and music we experience as part of our culture, and within the confines of our stores and supermarkets where we shop. Of course, we easily recognize the blatant marketing efforts that reach us through direct mail, media advertising, and all over the Internet including the spam we receive ad nauseum. Marketing has become one of the most all-pervasive elements of life and we are fools if we do not question the validity or innocence of everything we read, see and hear.
Marketing is communication and education!
In order to be successful in business marketing, the customer must be reached in a variety of ways. First of all, not every customer gets the daily paper or listens to local radio. We have limited knowledge of which TV station they may watch, where they shop, what roads they travel or where they dine. Depending on what we are marketing, we may have to utilize a whole assortment of avenues of marketing to get their attention. And, if we reach them just once, that is hardly enough to make a lasting impression. Marketing is necessary on a repeated basis in a diverse number of ways in an ever-changing presentation to assure that every customer can relate to it in some way, learn what we are offering and understand how it can benefit them. To achieve long-term customer loyalty, the targeted consumer needs to be coddled into familiarity with what we are selling so they feel it is something they truly want as opposed to having it forced upon them as something they desperately need, only to find out later they were tricked!
Marketing Sounds Expensive!
Yes, marketing can get pricey particularly if it is done on a consistent basis. But in today’s world, we have marketing options we never had even twenty or thirty years ago. Now, instead of paying for expensive printing and postage to mail a brochure or postcard to a targeted consumer, we can utilize email marketing, website presentations or online banner ads to reach the same market, usually at a fraction of the cost. Today, instead of buying expensive print advertising, we can work on improving our website’s SEO (search engine optimization) – (something we can do for free, if we are so inclined) so that people in need of what we offer can find us through Internet searches, rather than our trying to find them at an astronomical expense.
What About Social Media Marketing?
In addition to alternative marketing options already mentioned, there is the latest craze for Facebook, Twitter, LinkedIn, and other incredibly popular social media where people, young and old, spend hours developing relationships with “friends” they may never have met or ever will meet. Yet they share intense secrets of their deepest thoughts and desires as well as actual photographic representations of the same which sometimes land people in trouble with the law, or at the very least, their employer, school or parents.
Whether social media marketing is a worthwhile endeavor for businesses remains to be seen since businesses rarely accumulate millions of followers the way celebrities do. But as a way for customers to interact with a business for which they may have developed a fondness cannot be disputed. Can this translate into more sales for the business? We’ll have to wait and see, while continuing to devote precious time to composing meaningful 140-character tweets and building a Facebook “persona” for the business. From this writer’s standpoint, the only worthwhile social medium for business is that of LinkedIn since it provides a serious platform on which to create a business résumé where anyone interested in your professional stature can quickly summarize your capabilities, experience and accomplishments.
Marketing Can Be Intuitive
Much of what becomes marketing strategy is based more on common sense than on some mysterious scientific formula. As we see on a daily basis in stock market gyrations as well as political leanings, the herd mentality rules. On any particular day, if the Japanese or European stock or bond markets are selling off for one reason or another, you can safely bet that the U.S. markets will follow suit. And in any political race, as we are witnessing in the U.S. presidential primaries, the more one candidate gains ground, baby step by baby step, the more likely that candidate will become the Party nominee. Today’s world is governed by a minute-by-minute opinion survey measured by the endlessly publicized polls where people see what other people are thinking and use those results to form their own opinions. Monkey see, monkey do. The same holds true for marketing.
If we are told that a certain brand of coffee is the leading brand in America, we will probably believe what we are told, assume it tastes best, perhaps buy it ourselves regardless of cost, and perhaps adopt it as our own favorite. All because we were told everyone else was doing it. Safety in numbers, as they say.
It is ironic that those who become successful marketers usually dwell on the outskirts of the herd, have a more astute grasp of mass psychology, and approach business and life in a more innovative, creative and unique way, a mindset they use to formulate the next marketing phenomenon. The world is made up of leaders and followers: a few choice leaders and a glut of followers. It takes a lot more gumption to become a leader than it does to join the herd. That’s why marketing is a profession based in psychological control by a choice few over the mindless masses who have no initiative or courage to decide for themselves.
What is the difference between marketing and selling?
Selling is one aspect of the greater process of marketing. Marketing begins long before the product or service is even ready to sell. Marketing encompasses the concept, naming, branding and promoting of the offer while selling is the much more individualized effort to convince a lead who has possibly responded to the marketing offer to make the purchase. You can’t have one without the other, at least not easily. Marketing is a process by which we strive to reach the final goal of making the sale. Without marketing, the sales process is extremely difficult because the entire onus of educating the consumer about the offer is on the shoulders of the sales representative. On the other hand, if marketing has been successful, the sales rep can waltz in knowing the consumer is well apprised of the offer and can work his magic to convert the prospect into a satisfied customer.
What are some of the instruments of marketing?
There are many ways to market an offer, some of which are expensive, and others of which can be free. The methods we use that cost us dearly may not work as well as some of those we receive as a gift. Among the costly ways are media advertising, direct mail, conference presentations, distribution of printed literature, online advertising, email marketing, etc. Of those that are free are efforts referred to as guerrilla marketing, which are things we do ourselves to spread the word, network and publicize what we are offering. This can include posting flyers on bulletin boards in supermarkets, libraries, delis, small shops, and government offices, etc. Every time we add a tag to our emails where people can click to go to our website, we are using guerrilla marketing at no cost. Making sure we are easily found in Internet searches through search engine optimization of our website or other online presence, is an excellent way to achieve free marketing. One way to do this is to register your company or organization on every possible free online directory in your industry, region or interest group which translates into exponential growth as time passes.
What is viral marketing?
Viral marketing (as it relates to the word “virus,” meaning contagious and capable of spreading) is another means of free promotion facilitated by shrewd decisions we can make to further our cause. The easiest way to define viral marketing is that which is communicated via “word-of-mouth.” Related to the herd mentality discussed above, if a friend or business acquaintance mentions a product or service in a favorable light, we will be much more inclined to remember it and check it out. This can happen in a business meeting, at a mall, at a soccer game or over lunch. However, since most of us spend so much time on the Internet, it can happen practically everywhere we turn by clicking on the “like” buttons on Facebook or the “1” button on Google, among others. These are our personal endorsements where we give a “thumbs up” to something we have experienced and want to share with our friends so they too can enjoy it. Getting your offerings out with such buttons attached can result in viral marketing in your favor.
Viral marketing can have powerful repercussions as experienced by one client with an online auto accessories store. Many of his customers frequent online special interest forums related to the model of car they drive where members discuss products they have installed and the source of their purchase, followed by a link to his referenced website. Such referrals are repeated in other ensuing discussions, multiplying the number of links back to his site, increasing the power of his SEO and catapulting him to the tops of Internet searches for what he sells. He paid nothing for this phenomenon of parlayed good fortune except the daily effort he consistently expends to offer top quality merchandise and equally excellent customer service.
Do you need marketing?
If you are in business, of course you do. While you can attempt to do as much of it as you can on your own, it is advised that you begin with a reliable base of professional name, logo, website and search engine optimization to get started on the right foot. From there, you can work on promotion via guerrilla marketing and seek professional marketing services as needed for special needs, like a strong, effective ad to run, the development of professional sales literature to distribute at an upcoming show, or a direct mail promotion to your list of repeat customers, for example. Some business people choose to handle their own taxes to save on the cost of using an accountant for such critical functions at the risk of getting audited. Likewise, you can certainly attempt to produce marketing tools yourself but for long-term branding purposes and best return on investment, it is advisable to leave marketing development to the professionals.
Marilyn Bontempo, president of Mid-Hudson Marketing since 1975, has extensive experience guiding business leaders, directors, and professionals with successful strategies for business growth and sustenance. Long-term relationships have been established with law firms, medical practices, pharmaceutical companies, real estate executives, and a variety of other trade, corporate and industrial specialists. Her professional writing, editing, photographic, design and aesthetic specialties provide clients with proven methods of achieving successful branding and public image. Mid-Hudson Marketing is a top New York advertising, marketing, website and graphic design firm located in Dutchess County’s Poughkeepsie area specializing for more than 35 years in the creation and management of high quality branding for business success. With numerous prestigious awards to its credit, the firm’s services include full scale advertising programs; expert website development and search engine optimization; professional writing, editing and ghostwriting; blog setup and management; e-commerce and email marketing; outdoor and online billboards; trade show and point-of-purchase displays; sell sheets, posters, flyers, brochures, and catalogs; logos, tag lines and trademarks; photo enhancements; direct mail marketing; newsletters; public relations; and more: call (845) 493-0070.
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.
What are the important parts of digital marketing that you wouldn’t want to miss?
Digital marketing can be simple to complex, depending on how the company designs it. The company can determine whether they need to add or remove some strategies should the need arises. However, there are part of digital marketing that are not and should not be easily discarded. These are the most basic but also most important parts of digital marketing.
For many businesses nowadays, having an effective digital marketing is a major plus but can also be very challenging. If a business is not able to determine well on which part of its digital marketing is really not working, then issues may arise. Here are the most important parts of digital marketing that you should think twice before making any changes.
Engaging and Sharable Content Marketing
Content marketing may seem easy for new businessmen, but it is not. A content is not just producing articles or news about your business; it is also be about being informative, engaging and sharable. It should also have keywords that will be easier to find through search engines and will appear on organic searches.
According to a study made by business2community.com, less than 10% of their respondents say that content marketing is not helping their businesses grow. On the same study, 73% claims of having improved brand awareness and 64% on increased traffic due to their content marketing efforts. This goes to show that engaging and sharable content marketing creates better opportunities for companies.
Organized Email Marketing
Emails can become a bother to a consumer, especially when it is not sent in an orderly manner and the contents have no significance with the business. Have a schedule on the emails you will send to your consumers and remind them of how great your business is without exaggerating. Make sure that you send information that is relative to your business, products or services and will also be useful on their end.
Well-Built and Functional Website Design
Your website is the front of your business and an important component of your digital marketing strategy. Your web design should have a great and lasting impression for your clients and potential clients. Each button and link should direct your clients to where they intend to be and have the information they want to know. If any parts of your website is not working, it may cause your clients to doubt your site.
Your website should also be neat; the less clutter, the better. Remove buttons that are not necessary or place them under tabs. Place information on your homepage that are concise but still informative. Make sure you feature more of your business than other ads. Ads are great since you also get to promote other businesses, but having too many can make your site look annoying. Consumers will also feel frustrated if they accidentally click on an ad instead of a button or tab in your site.
It is very gratifying to see your business on the first pages of search engine result pages. Organic SEO means your content marketing efforts paid off without any need of Pay-Per-Click ads. Organic SEO also helps you gauge the traffic to your site and the return of investment for your digital marketing efforts.
To be part of organic search category means your content is unique and your choice of keywords are mostly searched by consumers. Being included on the first pages of search results will allow your business to have more exposure to your customers and potential customers. This means bigger and better traffic and the potential of making more sales.
Mobile Marketing Ready
Making your website mobile ready allows your client or potential client to access your site even when using their smartphones or mobile phones. The use of mobile phones today is no longer just for calling or sending text messages. As technology progresses, mobile phones try to keep up by having the capability of accessing the internet and social media sites with the use of the internet.
Active Social Media
Social media has become a part of many company’s digital marketing strategy. It helps them connect to a vast number of consumers in a matter of seconds. The feedback of consumers can be assessed through their posts in social media such as Twitter and Facebook.
Sharing content and answering your consumers’ concerns through your social media accounts indicate how proactive you are in reaching for your consumers. In a study made by IDG or International Data Group in December 2012, 95% of consumers are using social media, with 44% indicating their purchase is affected by the product’s exposure in social media. This shows how significant social media exposure is for businesses, big or small.
Marketing analytics is a crucial part of your digital marketing strategy. This will determine your company standing, how well your digital marketing efforts are affecting your business’ sales and what can be lacking on your digital marketing. An efficient analytics can help your business have a solid solution in the issues you encounter and what step you’ll take next.
Having all these elements working harmoniously for your digital marketing will definitely lead your company to a better future. Start on these elements and work your way up. Invest on your digital marketing needs wisely. Getting help from professionals in digital marketing will be a better move if you need any help with your next move in your digital marketing strategy.
Every online marketing campaign should be accompanied by a set of mobile marketing campaign elements. The objectives should be established, tracking methods to attribute results, and mapping out the intended flow. Mobile marketing creates opportunities for creativity and to reach out to smartphone users.
When it started, mobile marketing just referred to phone. But now, you could be referring to an iPad, tablet, an application or a QR code. The definition of mobile is evolving, and more marketers are realizing how important it is to create their own marketing campaigns.
Mobile consumers may have a slightly different behavior towards advertisements on their handheld devices. These people are likely holding their phones to pass the time, or to make a standing in the line enjoyable. They want entertainment more than anything else.
Here are some creative mobile marketing campaigns:
Projection mapping by Cornetto. Implemented by Unilever, Cornetto used projection mapping to encourage passersby to play a game, win a code, and get free ice cream. It happened in Istanbul’s central square, wherein players can control a character using their keypads.
Complete the ad by Lynx. Also known as Axe in most countries, Lynx offered incomplete pictures of sexy female models to their male target audience. In order to get the missing parts, consumers need to send a text message to a number after 9 pm.
Say goodbye by Motorola. In a Japan airport, Motorola ran a campaign to help people say goodbye to their loved ones in a new way. They can choose a special message recorded by David Beckham or Jay Chow, which will be played at the departure gates.
Mobile Internet Marketing
Companies that have limited experience when it comes to mobile marketing campaigns, can use their knowledge of Google AdWords. Valuable information about how mobile users interact can be collected from Google Analytics and Google Keyword Tool.
Knowing how to use Google Analytics can give you everything you need in order to establish a mobile presence. Mobile advertising is still a new market than traditional advertising. The goals of these ads should be relatively similar to those of your traditional AdWords ads.
You don’t have to spend a lot on AdWords to get a lot out of advertising. When creating your campaign, make sure that you will attract the attention of your audience, raise their interest, convince them that they desire your product, and lead them to take action.
Use bid modifiers. A number of PPC professionals have suggested using bid modifiers to focus a campaign’s spend on mobile placement. It allows a marketer to increase or decrease bids by a percentage for ads appearing on mobile devices. Just go to the ‘Devices’ tab.
Mobile-preferred ads. Marketers also have the option to create mobile-preferred ads. These ads provide opportunity to customize messaging specifically to people on mobile devices. Just click the check box for “Mobile” under “Device preference” via the web interface.
Mobile-specific ad size. AdWords offers an option to convert the Flash files to HTML5 when uploading them. For display campaigns, the 320 × 50-pixel mobile leaderboard ad size will appear in a smartphone browser or app. You can even create animated ads to get more attention.
A good campaign needs to be monitored and tweaked regularly. Doing so can help eliminate ineffective keywords. The easiest way to create a mobile AdWords campaign is to get ideas from your existing campaign that targets laptops and desktops.
From there, businesses can adjust certain settings like their ad text to fit the needs of the mobile user. Companies that are already familiar with Google AdWords should know that launching a mobile campaign is simply a variation on a theme. With a targeted mobile campaign, you will discover how well your current web design is translating on mobile devices.