Dallas Business Consultant Elijah ClarkDallas Business Consultant Elijah Clark

Segmenting your customers

Direct Marketing

The key to creating a marketing strategy is being able to quantify the market. Determine a plan of action to reach the people that haven’t been reached. Not everyone will or should be your customer. By knowing your potential customers’ demographics, your business can narrow its dollars efficiently. Segmenting helps generate an effective plan that will target specific demographics.

Customer Segmentation means to divide your customers into groups that share similar characteristics. Customer Segmentation can help you identify unmet customer needs that can then be used to outperform the competition by developing uniquely appealing products and services.

Use Segmenting to:

  • Divide customers and identify unique needs based on behavior and demographics
  • Evaluate sales and profit potential of each segment
  • Develop targeted marketing strategies
  • Measure marketing and sales performance effectively

Viral Marketing

Social media marketing (SMM) is a form of internet marketing which is used to help achieve branding and marketing communication goals through participation on social media. SMM is a great way to better market your business online. Having a social networking presence for your business and interacting with potential customers is a great way to expand your brand name and awareness.

The benefit of a viral SMM plan is the ability to create a video that focuses on entertaining the customer while providing valuable information about your brand and what it offers. The video should provide information on the benefits of the business. The concept of the video should be informative and is intended to encourage viewers to share the video via social media and on websites where they are a member. After watching the video, the customer should be inspired to visit your company, call, visit your website, and share the viral marketing video and the information about your company to their friends. A viral marketing plan should be distributed via video and social networking sites such as YouTube, Twitter, Facebook, and by using other multimedia embedding networks and websites. A viral marketing plan can easily create a positive image for your brand while also providing valuable promotional content to users.

Marketing A/B Testing

When developing marketing campaigns, you should always A/B Test, which is referred to as creating multiple campaigns for the same goal. By creating multiple versions of a controlled campaign, it could help your business determine the most effective campaign based on a side-by-side comparison.

Example.

In a study conducted by the Coca-Cola Company, taste was considered the most important factor for their declined sales between the 1970s and 1980s. In response, the New Coke was developed to enhance the flavor and generate sales. With the approval of more than half of the 200,000 blind product testers, the New Coke was introduced to replace the original flavored Coke— which was a disaster for the company. Because of the unfavorable results and backlash from customers, the New Coke was withdrawn from the market and the Coke Classic was introduced with the original ingredients. Regarding the Coca-Cola Company’s quantitative study and the New Coke, the test provided inconclusive results because of the lack of information given to the participants. Though the participants enjoyed the flavor of the New Coke, it did not outweigh their desire and loyalty of the original Coke. The New Coke’s example of relying on only one type of study displayed poor predictive validity. A customer’s like toward a product is not a good predictor of whether they would purchase the product over another product they also like. Had the Coke Company taken a segmented approach and kept both products on the store shelves, they could have had a better idea of which the users liked best and which would generate the most sales in a side-by-side or A/B comparison.

Most businesses who do A/B testing often fail to give their testing ad a chance at achieving its best possible results. Furthermore, without testing the ad properly, these individuals or companies may ultimately lose money, time, and potentially reject a successful ad that just never had the chance to prove itself successful due to the lack of owner knowledge. Having a control ad running throughout the testing of a new ad can save money and eliminate performance history as a variable in the test ad. By creating multiple copies of a control ad, you can avoid giving 50% of impressions to an unproven ad which may fail. Creating multiple copies of a control ad allows you to save on cost considering the control ad is always running. Instead of losing 50% of ad impressions to the testing ad, that percentage shrinks to 20% because of the additional control ad copies. In addition to this type of testing saving on cost and potentially accelerating the testing process, it also allows for you to create a valid testing environment by comparing the performance of the test ad against the copies of the control only.

Consumer vs Business Markets

In both business and consumer markets, the individual that will use your product or service is not always the same individual that makes the actual purchasing decision. For instance, a husband may purchase a product that his wife needs, or a parent for a child, or an employer for an employee. In these situations, your responsibility is to satisfy the decision maker(s) by providing them relevant information as to how your product or service can enhance their business or lifestyle.

Generally, when I walk into a jewelry store to purchase a gift for my wife, the sales representative will ask questions about my wife, not about me (until we start talking budget). In business, you need to ask the purchaser about the goals or intentions for the product or service, not about their basic needs. To make them happy, you have to sell the expectation that the individual receiving the purchase will be happy. When the decision maker is not present, you can generate more sales by focusing on expectation rather than the moment.

Business Market Purchases. When marketing to a business, you should concentrate on what is most important to the business which often includes statistics, facts, data, and a return on investment. Within the business market, the purchasing decision is generally made by multiple individuals. Your selling strategy should focus on each of the decision makers by way of the individual who sought out your business. This may include giving everything to the purchaser and letting that individual determine how to disperse the content to the decision maker(s).

Consumer Market Purchases. Consumers regularly make purchases based on factors which include value, availability, and emotional connections. In consumer markets, you will either sell to an individual or a couple. An example of a couple transaction is a husband wanting to purchase a new home. To do so, he would need to get his wife to agree to the decision. Similar to a business market, you need to sell to both but primarily satisfy the decision maker, which you should identify as you work to develop the relationship.

In both business and consumer markets, you can go a long way by getting the individual who contacted you to like you. If they like you and your business, they will fight on your behalf to influence the decision maker.

Writing Meta Tags

Example Web Design Company:

Title: Dallas Web Design : Dallas Website Design : Texas Web Design

Description: We are a leading Web Design Company in Dallas Texas. We specialize in innovative website design, pay per click, search engine optimization, graphic design, and Internet marketing. Call Today 1-888-888-8888

_________

The reasons for choosing these tags came from the use of competitor’s sites title tags and descriptions. I also was able to use their keywords and a tool that Google has which compares keywords (Google keyword tool).

With the combination of these tools, I was able to come up with the best keywords for the main focus of my company, which is “Dallas Web Design.” The Google keyword tool helped with coming up with the best words for the title. The competitor’s sites also helped in confirming that they were the best. The method that I chose was to come up with three phrases for my site just as I had seen from most competitors sites. Their sites, instead of having one phrase such as “Dallas web design;” they had multiple phrases such as “Dallas Web Design: Dallas Web Design Company: Dallas Texas Website Designer.”

Google keywords tool showed Dallas website design, Dallas web design, and Dallas web site design as being the most popular searches for the term “Dallas web design.”

What I also did to make sure that the title would be affective, was that I looked at the text on the home page of my company site and made sure that I incorporated that text into the title and description meta tags as best I could.  My goal was to make everything match together rather than to have no keywords within the title or description.

I found the title being the most complex to come up with, as this is the most crucial factor for search results. The biggest determining factor for the title was using Google’s tools to see which were the best search terms and also making sure that those terms were somewhere within the text of the site.

The description was a little easier to come up with as I just made sure to add some keywords in there, but mainly use the company’s bio from the text on the site.

 

Credits

Google keyword tool. (n.d.) Retrieved December 5, 2009 from https://adwords.google.com/select/KeywordToolExternal

Distribution Strategy for Press Release

The social networking sites that your company can use to release its press release are Facebook, Twitter, Blogger, and Feed Burner. Within each of these sites, you can gain a different audience of users that will link back to your website for the full press release.  This will allow for more traffic and more sales for your company.

Distribute your press release through popular wire services including:

  • Business Wire: www.businesswire.com
  • Market Wire: www.marketwire.com
  • PrimeNewswire: www.primezone.com
  • PR Newswire: www.prnewswire.com
  • PRWeb: www.prweb.com

The reason for publishing with these wire services is to maximize the distribution of the release. By publishing with these services, it allows for the press release to be seen by followers of these sites and will be indexed by many more distribution services and search engines. By using this method, it will allow for further geographic reach of the press release. In addition, by placing the press release on popular sites, it allows for your business to link those users viewing the release back to the company website.

Social networking sites that shoukd be used for distribution will include Google, Yahoo and other vertical market portals including a Really Simple Syndication (RSS) reader.

Keyword tags should also be used to create for a better marketing campaign that will be beneficial to search engines indexing the media release.

The company blog should include information on the press release and will be used as a tool to link readers and followers to the pressrelease page where they can read the full release.

The company blog should also include social networking bookmarks, connections and an RSS feed for users to stay updated with the sites news releases and additional content. By using share tools for facebook, twitter and other social networking sites, it will allow forreaders of your businesses blog and media room to distribute the information to their followers on those specific networks.

The press release should be available within a designated section of your website which will allow for users to easily search for archived releases. This strategy will also allow for search engine to keep an index of the press release in case the distribution sites have taken down the release and it no longer exist in their archive.

The social media pressroom should have information available in many different formats including audio, video, photos, news releases, background information, financial data, social media connection tools and bookmarking tools. This media room will be designed to market toward the buyers and the journalist.

By creating a media room that updates regularly, this will allow for search engines to search them more frequently and will ultimately result in more traffic, more indexed pages and more sales.

Local markets and journalist that your business should contact will include:

  • Wired PR News: http://www.wiredprnews.com/
  • AllTop: http://business-wire.alltop.com/

your business should also contact bloggers, reporters and journalist from local networking groups.

You should also attend local meet up events and find out where the local journalist are and what they are looking for.  By attending these events and getting to know the local journalist, reporters and editors, you can put together a list of these authors and use them for future press releases. The local meet up groups can be found by using the networking website meetup.com to find dates and schedules of upcoming events.

By starting locally, it will allow for your business to practice its distribution strategies and then expand the techniques international. This same method should be used for some of the local online press release channels also.

The goal is to make the news releases easy to read and understand by its viewers. In addition to these newsletters, you should look to distribute these news releases within e-mail newsletters, RSS feeds and through the use of current employees.

When searching for journalist and buyers, your business should focus on finding what it is that the journalists are looking for in a good press release. Having this information will be crucial in building relationships and relevant content for journalist and buyers. In addition, creating a easy-to-use navigation, search function and share tools will help make journalist jobs easier be conveniently providing all of the content for them to easily find and navigate within the website’s press release.

Another way to be sure that the press release is getting into journalists hands is to be sure to find out what other locations the journalist are going to and what events they are attending. This will allow for Your company executives to personally speak with the journalists. These events may include conferences, trade shows, and other speaking appearances. You should include a link on your website that has a list of upcoming events that you will be attending. These events can be local and international. In addition, this calendar will also allow for journalist to know where to find the CEO.

Another option is to include a call to action within the media room for journalist and bloggers. This could include offering them an interview with the company executive.

The timeline for posting this release within the company’s site and on other wire sites should be two days. On day one, the press releaseshould be emailed to journalist along with bloggers, editors, within the company’s RSS reader and through an e-newsletter release. By day two, the release should be posted on all press release sites, social networking sites and blogs.

Your company should create a relationship with journalist and readers by welcoming their feedback and giving them the story first. Your business shoukd not only release news of big events and happenings within the company, it should also release stories of awards, conferences, products and other unique marketplace information.

Market Efficiency Theory

Market Efficiency Theory
Market efficiency was formulated by Eugene Fama in 1970, labeled as efficient market hypothesis. His theory suggests that stock and market value are based on publicly available information. Investors invest with the goal that their investment will generate a positive return on their investment. An efficient capital market is when a stock price reflects publicly available information that may affect the stocks value, which could benefit investors. Efficient markets generate random patterns that cannot be predicted, and an investor cannot factually predict a stock value with secretive information.

Less Efficient U.S. Markets
Markets are much more inefficient than they used to be, and unreliable information could cause investors to receive inefficient values. If markets are unreliable, the value could potential plummet and non-informed investors may not be interested in purchasing new stock. Furthermore, An inefficient market would likely be placing a market value above or below its true value. An inefficient market creates unfair advantages for certain investors who would not otherwise have access to the company’s information. Markets become less efficient often due to greed, economic involvement, negligence, and lack of communication.

Markets in Other Countries
Many studies have found that market prices are difficult to predict. Compared to the United States, other countries also have problems with market inefficiency. Market efficiency asserts that there is no pattern or trends that can be used to predict future value. In the Indian capital market for instance, market inefficiency exist that contradict the efficient market hypothesis. A study, which examined a calendar anomaly within the stock market; found that stocks often held until after the New Year present a higher return rate, and that Monday is considered the worst day of the week to invest. While this isn’t considered inside information, it does create a predictable trend that creates a level of efficiency to use in predicting market trends and potential.

Finding efficiency within the stock market may seem fairly simple with the use of technology and cheap software tools that can find patterns within stock prices. However, the reality is that there is no way in determining the direction of a stock by using computer technology or human assumptions. In addition, if exploits did exist, they would be found and corrected to prevent future defrauding.

With the efficiency market hypothesis, the securities will always reflect the available public information. No system, tool, calculation, or individual investor has access to secret information that would help them generate a rate of return above others. Consequently, investors should always expect to receive a fair value for their securities.

To determine the direction of a stock, investors must be skilled at analyzing data, predicting stocks, and have the ability to comprehend statistics and understand the stocks industries. To achieve this, it takes an investor that is passionate and has the time to evaluate the market.

In addition to rationality, independent deviations from rationality, and arbitrage, t he efficiency market hypothesis makes the assumption that there are three levels of market efficiency’s. The three levels assume that the value of an investment should reflect all available information. Prices should change based only on publicly unexpected information. The hypothesis is considered a model based on how markets tend to work and not how they should work. The three levels of market efficiency include strong, semi-strong, and weak (Maguire, 2010; Ross, Westerfield, & Jaffe, 2013). The weak level of efficiency does not base it results on reliable data such as earnings, forecast, or company announcements. However, they are often random and based on mathematical assumptions relating to historical data. A market is considered semi-strong if it can be predicted by using publicly available information. Information that helps predict a market using a semi-strong efficiency level includes information regarding accounting statements, and historical data. The strong efficiency level uses all publicly and privately available information to determine a stocks value.

Insider trading behavior is affected by expected trading profits from private information, and potential litigation risk. Managers tend to avoid trading before company disclosures so that they may avoid litigation risk. To reduce the probability of litigation, managers provide higher quality disclosures before insider trading. Furthermore, to avoid litigation, insiders often avoid profitable trades before earnings announcements, but will trade after the announcement in an attempt to profit from their future earnings based on the announcement.

Creating a professional brand image

Creating a professional image

A good graphic artist will understand that business logos are not just for multi-national corporations. Graphics are for any enterprise that wants to present a professional image and customer recognition for a job (otherwise known as branding).

Your logo works for you on your business cards, stationery for your company, invoices and receipts, your business’ publications, and of course ads. A good business logo design helps your customers remember your business and many people remember images better than they remember the words.

Content Management Systems CMS

Stay Updated With a CMS

With some websites, having fresh content is mandatory to gain new and repeat clients. With a Content Management System (CMS), you can keep your site updated with the latest news articles, products, and services. You have full control over what you want to put on and take off your site.

Updating:

Your website needs to be easily upgraded with new content on a regular basis. A CMS gives you full control so that you can easily add new updates and blogs to your website without having to call a programmer to do it for you.

Results:

All content can be managed through a simple user interface that allows for quick task completion. The Administration area is easy for all to use, and can involve multiple access levels for various management controls.

With a CMS, you can easily implement and manage:

  • Article publishing
  • Website forums
  • Photo galleries
  • Surveys and polls
  • Projects
  • Interactive event calendars
  • Complex data entry forms

Working With SEO

In order to create a successful search engine optimized (SEO) website, the designer must be sure that the website is well put together. In creating this website, the designer must first be sure that the website is appealing to the user and that the site is easily navigable. The way to create the proper architecture for a website is to be sure that the site is flat and has minimum user clicks to get to the destination page. “A great tip is to identify your most authoritative pages using the ‘Top Pages On Domain’ tool at SEOmoz and use those pages to add some authority to others by linking out to them” (Baxter, 2009).

In addition to creating the proper navigational structure of the website, the designer must also check for broken internal and external links. Some tools to use for finding broken links consist of “Xenu’s Link Sleuth” tool and “Web Link Validator” tool which will crawl through the website and recognize any broken links.

Another technique for helping with the architecture of a website is to check the server header response code and to also check the site for duplicate content. If either of these is wrong in their results, they should be corrected. While some of the concerns may need to be fixed by the sites developer, others can be fixed by simply changing some wording or taking the proper steps with the search engines to correct the information.

The final steps that the author explains in order to make sure that a website has the proper architecture is to be sure that the site has one main URL by setting up a canonical 301 redirect. In addition, also be sure to remove the developmental site that was used to originally create the website. By leaving the developmental website on its server, this creates duplicate content that can get crawled by search engines and create a negative impact on the website. Once the live site is up and running, the developmental site should be taken down.

Credits

Baxter, R. (2009). Diagnose critical website architecture issues for seo. Retrieved June 18, 2010, from http://www.searchenginejournal.com/seo-website-architecture-issues/9760/

1 2 3 4 5 13
READY TO GROW YOUR BUSINESS?
Copyright 2022 Dr. Elijah Clark Enterprises - Sitemap - Policy - Fees