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Hello ,
Welcome to this week's edition of Etips.
In this week's edition of Etips, Bobette Kyle will assist you in developing
a profitable marketing mix.
I hope you'll enjoy the publication.
To your success!
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 Guide to a Profitable Marketing
Mix
By
Bobette
Kyle Copyright © 2004
You may have heard the term Marketing
Mix used in connection with marketing planning.
Marketing Mix means the combination of promotions, products, places (distribution
channels), and prices you chose for your business. Including both short term
and long term strategies in the marketing mix can make for a more profitable
business.
Long term strategies build brand/company awareness and give sales revenue
a permanent, gradual boost. Short term strategies create a temporary, immediate
revenue boost by giving buyers an incentive to purchase.
By implementing both long and short term strategies, you can attend to immediate
sales goals while building your business reputation and goodwill. Some examples
of both types of strategies are below.
Long Term Strategies
Branding.
General advertisements and other high profile activities contribute to your
company's image. These points of contact with your target customer help mold
your image, which in turn can create loyalty from your customers.
Philanthropy.
Donating money, services, and/or time can build trust and a positive image
for your business. Philanthropy contributes both toward your branding efforts
and your company's internal well being.
New Product Pipeline.
New products in development represent your future sales. If you get feedback
from your customers or potential target market then design new products (or
change existing ones) to meet their needs, you are ensuring a demand for
your products in the future.
Short Term Strategies
Reduced Price Sales.
Limited time sales encourage customers to act. You likely have customers
intending to buy but have not "gotten around to it". Holding a sale will
give them incentive to purchase.
Group Discounts and Offers.
Discounts or other offers to a specific group can help exposure your business
to new customers, resulting in a sales surge.
Pay-Per-Click Search Engines.
Pay per click search engines are another way to become visible to new customers.
Use them carefully, however. Do not bid more per click than the profit you
expect to make from that click.
Search Engine Roles in the Marketing Mix
High search engine placement can produce both short term and long term results.
Short term, you can gain immediate sales. Long term, results come as potential
business partners find your site.
Do not, however, become obsessed with search engine optimization to the detriment
of your other marketing strategies. Search engine marketing should be one
part of a more comprehensive plan. Include other marketing strategies in
your plan to reach additional customers.
As an example of how this can work, I generally put only two or three hours
a month into direct search engine optimization. My primary focus is on quality
content, which simultaneously creates stronger search engine rankings for
my site and makes the site more attractive to visitors. This approach has
gotten me results with Google - nearly 20,000 visitors a month through the
free search engine as of June 2004.
Another approach to search engine optimization is to hire an outside expert
to work on search engine marketing while you focus internally on other parts
of the marketing mix. If you take this route, however, be alert for agencies
that use tricks that go against search engine guidelines to increase your
rankings. These approaches may get you results in the short term, but could
get your site reduced in rankings or banned in the long term.
Once you integrate both long term and short term strategies into the marketing
mix, your business is better poised to prosper for years to come.
Copyright 2003 - 2004 Bobette Kyle. All rights reserved.
About the Author:
| Bobette Kyle
draws upon 10+ years of Marketing/Executive experience, Marketing MBA, and
online marketing research in her writing. Bobette is proprietor of the Web
Site Marketing Plan Network,
http://www.WebSiteMarketingPlan.com
and Moderator for the Web Marketing topic at
highrankings.com
forums. |
|
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Highly
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| Tip of
the Week |
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Selecting good keyword phrases
is an important part of driving targeted traffic to your web site. However,
it can be difficult.
Goodkeywords.com
offers a free little software program that will assist you. Simply type in
a keyword or keyword phrase and the program will provide you with a list
of additional keyword phrases.
Today's tip is an excerpt from the highly acclaimed
Web Design Mastery series.
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