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Internet Marketing includes online marketing, search engine marketing, email marketing, mobile marketing, social media marketing and many other different marketing channels, approaches and tactics including paid advertising online. In addition to the internet marketing channels the Internet Marketing strategy includes different internet marketing tactics and strategies such as web development, SEO or search engine optimization, continuous content development, social media networking... Market Research Surveys Help You to Know Your Customer A market research survey is one of the most simple and direct avenues that your business can take to obtain information from your current and prospective customers. The purpose of this technique is to obtain data from a segment of your target market so that you will be better informed regarding what they want and expect of your business. The 4 Elements of the Marketing Mix Model The marketing mix model is a process for planning and strategy development that involves four elements within your control. These are: · Product · Price · Place · Promotion Social Media Marketing Research S ocial Media Marketing Research: Social media, such as Facebook, Twitter, YouTube, and many other popular locations, are becoming an increasingly popular method of promotion, sales, and marketing campaigns, but what many businesses are only on the cusp of discovering is that they also offer a significant opportunity for social media marketing research. This can bring several important benefits along with its practice. The following are only a few of the benefits that are available to you by performing social media marketing research.Marketing Performance: System and Metrics for Marketing Management The success of our marketing performance just like any performance management system depends on the metrics that drive the measurements and decision making as we manage our businesses on a daily basis. Our perception and actions depend on how we decide about the ways moving forward. What is good performance? What is unacceptable performance? What is great performance? 10 Twitter Tips for your Business:10 easy approaches you can start using today to promote your business on Twitter...Here is the quick summary of the 2011 Exce4Marketing Direct Mail Marketing Survey Findings of more than 200 Marketing Firms in the US... Customer Survey Template for Excel Pareto Chart Generator for Excel Sales Pipeline / Sales Funnel for Excel The BCG Matrix is also known as Growth-Share Matrix. The BCG Matrix (originally developed by the Boston Consulting Group) is used for developing marketing strategies and performing marketing analysis related to portfolio planning and analysis. The portfolio analyzed with the BCG Matrix is generally portfolio of products and/or services offered by the company or strategic business units (SBUs) managed by the company. In both cases the purpose of the BCG Analysis or BCG Chart / Matrix is to visually present the competitive positions of all business portfolio members. The competitive position of each portfolio member is based on its market share, market growth rate and size/revenue. This effective business analysis is used for company's current and future market analysis / estimate and competitive marketing positioning in the marketplace. By using this tool marketing managers better understand the marketplace and are able to effectively plan and optimize their current portfolio and allocate their marketing resources effectively... Customer Survey Dashboard - This easy to use application for excel is designed for developing customer survey questions, printing your surveys, entering customer survey responses, and analyzing and printing your dashboard report. This customer survey tool has been used by hundreds of companies for developing and managing their customer survey process... The Pareto Principle also known as 80/20 principle or 80/20 rule has been applied to business analysis and decision making in variety of business disciplines such as operations management, quality management and marketing management. The application of Pareto principle in marketing is of very high importance. It helps marketing managers understand the key marketing issues, drivers and problems. The 80/20 rule applied in marketing discover important issues such as customer profitability and key business accounts driving the business profitability. It also identifies areas for improvements such as bottom customers. There are many situations in marketing management where this tool helps marketing managers. Another example is understanding distribution and promotion costs for different customers segments. The Pareto Tool easily identifies and rank different customer segments and gives an insight into the business model. Sales managers also use the Pareto Tool to better understand sales force performances and sales regions on costs and profitability. The logic behind this very simple tool is the following: Not all causes and activities produce the same amount of problems, results and opportunities... The Ansoff Matrix is used for planning and analysis of alternatives for business growth. This matrix considers existing and new markets and existing and new products for business growth and development. The Ansoff Matrix has four quadrants: (1) Business Growth with Existing Products in Existing Markets. This approach is Market Penetration approach where the business is growing with its current product / service offerings in the current markets... GE / McKinsey Matrix is strategic and marketing management tool used for portfolio analysis. Most of the time this tool is used for analyzing portfolio of products, services, and strategic business units. GE Matrix is similar to BCG Matrix and it is an extension of the BCG Matrix approach - multifactor portfolio analysis tool. The GE Matrix compares different businesses on "Business Strength" and "Market Attractiveness" variables, plus the size of the bubbles in the matrix represents the market size instead of business sales used in the BCG Matrix. The share of the market or business sales vs. market size is represented as pie chart inside the bubbles in the matrix. This allows business users to compare business strength, market attractiveness, market size, and market share for different strategic business units (SBUs) or different product offerings on one matrix or chart... Frequently used marketing metrics: overall revenue/sales, revenue per customer, revenue per product/service, revenue per region, revenue per market segments, market share, profitability/margin, revenue with new customers, revenue with new products/services, customer loyalty, customer satisfaction, referrals, customer complaints, customer survey responses, top and bottom customers/accounts, quality of customer service, promotion/advertising cost, promotion/advertising effectiveness, sales force performance, online leads generation, customer lifetime value, customer retention rate, customer acquisition rate... Performing Customer Segmentation Analysis and dividing your customer base into different segments based on different criteria is a great exercise for discovering profitable segments and alternatives for growth in those segments. Customers within one customer segment have similar characteristics and are driven by similar needs and preferences. Analyzing and understanding your customer segments can give you competitive advantage in your marketplace. For example, the better you know and understand the segment the more competitive you are in developing customized offerings, products, services or simply you are able to develop better sales and marketing approach. Customer Segmentation allows you to better allocate and optimize your company wide resources... RFM is a database marketing technique originally developed and used in direct marketing and retail industry. This approach can be used in any industry to support marketing and sales decisions for developing marketing and sales strategies and tactics. RFM tool is used for analyzing customer behavior and identifying customer groups with similar behaviors. Different customer groups or RFM segments behave differently on different marketing approaches such as promotions and advertising so RFM helps marketing managers develop customized marketing strategies for different RFM segments. RFM also helps with identifying who are the best / most profitable customers and who are the customers who are more likely to respond to a certain marketing strategy. RFM Analysis is a simple quantitative approach and gives marketing managers business insight into their customer base... The following is a list of most frequently considered issues by marketing and sales managers. Developing marketing plan is a process of creating a roadmap for building success in the marketplace. It’s about exploring the market trends and opportunities and outperforming competitors while building long-term competitive advantage... Marketing Audit is an organizational marketing assessment approach with the purpose of analyzing the marketing approach. Marketing Audit is very useful exercise for any organization because it can reveal weaknesses and identify opportunities for improving the current marketing activities taken by the organization. Marketing Audit is strategic marketing assessment and goes beyond focusing on advertising or marketing campaigns but it is a tool used to analyze the overall organizational approach to marketing and selling the products and services... When designing a survey you always start with the goal in mind – the purpose of the survey. Next is creating a list of questions (designing survey questionnaire) and deciding how the respondents will answer your survey questions. What answering options should you give to the survey respondents and how you are going to collect and analyze the survey results? Use the Likert Scale...
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