Powerful Secrets To Marketing
1. 20/20 Strategy
1. 20/20 Strategy
One good advice by Marketingprofs.com is to execute the 20/20 strategy. Basing on the statistical fact that 80% of your business will come from 20% of your loyal consumers, the trend for marketing is to focus and improve the 20% earning base. If you can improve revenue by 20% on the significantly earning 20% consumer base, then you can grow your business by as much as 16%.
They advise to make a team effort into improving and growing the 20% consumer base from as follows:
-The head of the company should lead the effort, deploying focused clarity in setting the 20/20 goal and supporting functional changes to it.
-Accounting will identifying the company's top 20% customers, the ones contributing 80% of your revenue.
-Marketing will use tools to analyze profitability, customer response rate and develop the execution strategy and follow-through on results.
-Production to improve the current product offering by providing added features or services that address customer needs.
-Sales will refocus its efforts to the significant 20% customer base, improving skills to improve relationships and better connect with customers.
-Customer service to execute improvements in daily activities and customer relationships.
2. Podcast
When Steve Jobs launched the iPod in 2001, he had a clear idea that it will change the way people procure and enjoy music. The next 4 years will see iPod rule the mp3 player market with a commanding 90% share of the market by early 2005. But do you think that Steve Jobs thought of it as a marketing tool as well?
One unique feature of iPods are podcasts, the ability to broadcast the content of the your iPod over the net, with fellow iPod users. In a sense, it means the ability to reach people with your music, or to attract people to your website, wanting to listen to your podcast. Thats a modern way of generating traffic over the Net. With 90% of the market captured, wouldnt you want to capitalize on an already available market?
For 2006, podcasting is a way of generating traffic to your website, and thats just the tip of the iceberg.
3. Spend on SEO
Ten years ago, search engine optimization meant placing AAA on your website. These days, you need to pay to get your website on a search engines top ten. For 2006, this is a key marketing expenditure that your company should budget for.
With the growth of online marketing at the rate of 100% every year, landing a spot on a search engines page-1 is getting tougher and tougher. Professional help is definitely required in this aspect.
Though online marketing is still less in response rate vs. direct selling techniques, having Internet presence contributes to at least 2% of your revenue. Thats already 20% of a double-digit growth goal. By letting professionals work on securing a sure 20% of your revenue, your marketing and sales team can concentrate on the more significant percentage of your promotion like direct selling.
4. E-mailed Gift Cards
Though the holidays just ended, it is no reason for your marketing team not to plan for the next holidays. Early planning gives more time for preparation and more time for shopping for options.
With the world getting smaller online, it is not impossible to see gift cards rising popularity. It is valuable both for the giver and the receiver. The gift-giver need not spend hours to think of a perfect gift for the intended receiver, and can avoid the risk of a negative response. For the recipient, he gets the flexibility of receiving the perfect gift, one that is suited to his taste, because he gets to choose and buy it.
Sales feedback from various companies showed doubling sales and positive ROI for investing in e-mailed gift cards. Most of them offered it as a last resort to customers, sending it days before Christmas and that is the perfect time to avoid the rush and still give just the right gift.
Take the next 10 months planning for your gift card promotion and the holidays may come earlier for you.
Use the four simple strategies above and see business be more compatible to growth.
by: Elijah Chai
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