Dallas Business Consultant Elijah ClarkDallas Business Consultant Elijah Clark

Qualitative or Quantitative

Determining whether to use a qualitative or quantitative method is really dependent upon how you desire to collect your data and what is important to you. A qualitative examination technique assesses why people behave a certain way. Furthermore, the strategy aides in discovering boundaries that influence thinking by breaking down points of interest and gathering information from in-depth sources (Šalkovska & Ogsta, 2014). A qualitative examination produces findings that are regularly not conclusive and are exploratory in nature. The advantage of this kind of study is that it gives alternative research to further decision making. A quantitative methodology utilizes information in view of raw information and statistics. The research technique frequently uses experiments and segments to gather information (Šalkovska & Ogsta, 2014).  A quantitative methodology is similar to qualitative concerning the examining of individual practices. However, a quantitative methodology uses structured information to shape a hypothesis and conclusion (Šalkovska & Ogsta, 2014). Unlike quantitative, a qualitative examination is non-measurable. Furthermore, a quantitative exploration produces detailed information that contribute to in-depth comprehension, while a quantitative examination produces information based on populace and generalized information.

Additional Readings

Šalkovska, J., & Ogsta, E. (2014). Quantitative and qualitative measurement methods of companies’ marketing efficiency. Management Of Organizations: Systematic Research, (70), 91-105. doi:10.7220/MOSR.1392-1142.2014.70.7

Professional and advisory support

Having the input of a professional on how to maintain your business and generate profits is critical for the success of your business.

It’s up to you to determine whether a professional or advisor is needed to help with your business’s success.

Suggestions of support may include:

  • College friend
  • Professional family member or friend
  • Board of directors and management advisory board
  • Attorney
  • Accountant
  • Insurance agent
  • Banker
  • Consultants
  • Mentors and key advisors

Pay per click value

Generate Website Traffic

Pay per click (PPC) marketing or PPC strategy focuses on creating search engine visibility through the use of paid search engine listings and search results. The goal of a PPC campaign is to help generate website traffic and conversions.

Pay Per Click (PPC) is an Internet marketing model used in search engines, ad networks, and content sites like blogs, where marketers and advertisers pay only when their ad is clicked. Thanks to search engines, these advertisers typically bid on keyword phrases that are relevant to their particular target market.

How does it work?

There are two basic models for determining the cost per click: flat-rate and bid-based. In both cases, you must take into account the potential value of the click from a given source.

To track the cost and possibilities of a PPC campaign, you can use tools such as Google Adwords to determine if there is real value and opportunities in running a PPC campaign.

A marketing strategy to grow your business

Marketing plans are crucial for starting and growing a business. A good marketing plan will help your business identify your target customers, and generate a plan to reach and retain those customers. The marketing plan is the roadmap to gain customers and improve organizational success if done properly.

Additionally, the plan describes the desired customer by targeting their precise needs based on their demographic profiles. This is helpful for identifying targeted customers and creating pinpointed advertisement aimed directly at those prospective customers.

An additional crucial point of the marketing plan is its plan of distribution. The distribution plan details how customers will purchase or buy into the organization. The promotional strategy of the plan is considered one of the most important sections of the plan. The promotional strategy details how new customers are to be reached.

Examples of an effective promotional strategy include distribution and promotional tactics on television, at trade shows, and through online advertising. A marketing plan includes everything from understanding the desired customer, to determining how to outperform and strategize the competition. A marketing plan is paramount to achieving business success and the time taken to develop a marketing plan, is an investment worth making considering it defines who to connect with customers and generate sales.

Creating a digital marketing strategy

Developing a Strategy

When developing a marketing strategy for your business, make sure that it includes an assessment of your desired market, focusing on the market size (volume and value), customer segments, sales projection, regulations, target market, competition, economic conditions, and includes an exit strategy.

A marketing strategy should include feedback from a variety of resources and individuals including the finance department, personnel, supply, tech support, sales, etc. Additionally, feedback is crucial when developing a plan as it helps to provide an understanding of how to adjust or continue course with your marketing strategy.

When creating your marketing strategy, make certain that it demonstrates the attractiveness of the market from a financial standpoint. Considering trends change, employees leave, and because of consumer fluctuations, a marketing strategy should cover at least one year up to a maximum of four years and should be adjusted when necessary.

Your online brand is your resume

Internet Marketing

The reason that you as a business owner needs to market is because while you may have a great website or graphic design piece, without placing this work within your potential customers’ reach, you are losing business.

Here is how it works. Think of your website or art work as a resume. With this resume, you spend hours or days writing it up to perfection and years building it through experience and education. After you’ve gotten your resume to perfection, what next? What’s the next step to making sure that you land that dream job? The answer is marketing. You have to market yourself to gain the employer.

A bad resume with good marketing has a better chance of landing the employer, than a good resume with no marketing. Without marketing, you’ve just wasted years on creating a great resume for no reason at all.

Locations and facilities

Your Location Matters

Most online only businesses operate in an online space so a physical location may not be needed. However, your location still affects your business’s marketing efforts even as an online company.

For example, if your company is located within the state of Texas, but seeking to do business in New York or another, you need to make certain that your website addresses the concerns of each target customers’ location

Things to consider:

  • Is your location/website convenient (address / online address)
  • Is it consistent with your brand image?
  • Is it what customers want and expect?

Creating financials for your business

Sales plan

The sales plan is designed to reach new customers. The plan is the process used to close the deals that the marketing plan opens. The sales plan explains how salespersons are rewarded or commissioned, how orders are processed and tracked, and how the business keeps in contact with the customer throughout the sales process.

Revenue forecast

Lists major products, services, and other revenue streams. Organizes them into sensible higher-level groups as appropriate. Revenue forecast can also be used as a comparison against actual results.

Budget

This section includes estimated expenses for the creation, development, and distribution of materials. The budget plan includes the estimated purchase cost of raw materials, printing and postage. Additionally, it analyzes the budget of taking part in trade shows, travel costs, booth fees, setup costs, and any other particular expenses.

Cash Flow Assumptions

Managing cash flow is one of the most important aspects of business. In the planning phase, the business can radically change its cash outlook by adjusting a few basic assumptions about when it pays and gets paid. This section, which is a required part of a detailed forecast, walks through those assumptions.

What is your business marketing message?

The marketing message is the heart of a marketing plan. It details the company’s plan for the market materials, how the company plans to achieve its marketing goals, and the tactics that will be used to meet them. The marketing message determines how the company wants to communicate its message to the customer.

When creating your marketing message make certain that you focus on how you want your company to be perceived by customers. Do you want customers to view your business as having good prices, customer support, quality service, etc.

Once you determine your marketing message, you will know the next step to take for your business.

Professionally built website

Professionally Built

If you’re unsure if you website is good enough for your business, you need to ask yourself; does my website compete with my competitors and does it target my users. If you don’t have your website built by a designer who understands your industry, then the answer is likely to be, “no.” You need to keep in mind when building your website that it needs to represent you and your business. If it looks cheap, then so does your business. If you try to cut corners, your customers will know. It’s better to have no website at all then to have a website that looks terribly built and represents you in a negative way.

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