Posts Tagged ‘marketing’

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What You Can Learn About Joint Ventures from eBay and Craigslist

Wednesday, March 10th, 2010

Joint ventures can provide both partners with tremendous success, but even the best intentions can go awry. One example of an off track joint venture involves online marketing giants eBay and Craigslist.

In 2004, eBay and Craigslist entered into an agreement whereby the two companies would try to expand more into global markets. However, the joint venture soon stagnated to the point where eBay was trying to market the 28.5% share in Craigslist to other companies, and Craigslist was fighting to get it back.

The biggest problem with this joint venture is that the two companies obviously had completely different intentions and goals. Craigslist wanted to retain authority and management of its own operations, but learn from eBay about larger online classified operations. eBay wanted to use their share in Craigslist to better compete against Google in the online classified industry and maximize profit potential in Craigslist operations. Although both companies had a shared intention of expanding into bigger global markets, their alternative intentions soiled the relationship, and they are now in litigation to end the JV.

Looking at the original intention of the JV, it was a good one. However, there are things you can learn to prevent such a tragedy from occurring in your own JV.  Here are some things to consider:

Write Out the Intention of the JV as a Mission Statement

Before your JV goes “live”, you and your JV partner need to know exactly what is expected from one another. Are you looking to have access to technology while your JV partner needs help in reducing expenses? Or perhaps you both are looking to enter into bigger national markets by combining forces? 

The mission is critical to ensuring that you and your JV partner will not have disputes over the overarching goals.

Explicitly Write Out the Partner Responsibilities

What will you be contributing to the JV? What will your JV partner contribute? Who will manage the accounting books? Who will handle distribution?

All of the facets need to be clearly outlined in the beginning. You don’t want to have a finished product ready, but find your JV partner reluctant to distribute it appropriately.   Know who is responsible for every step of the joint venture.

Shelter Your Proprietary Information

eBay used confidential Craigslist information and techniques to form its own “free” online classifieds, called Kijiji. Craigslist did not want another competitor, especially one that was using its own technology and industry secrets.

Although you may agree to share certain proprietary information to develop a new product, be careful what information you do share. Keep your proprietary information private. Remember, you are still in business for yourself.

Define the Exit Strategy

eBay and Craigslist are still in a lengthy and expensive dispute on how to dissolve the joint venture partnership. You can avoid legal litigation by defining exactly how your JV will dissolve if things go wrong, as well as if things go right.

Joint ventures don’t have to end badly. Knowing all expectations and responsibilities will help you and your JV partner get the most benefit and profit from your JV efforts.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

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Get Yourself Acquainted With The Perfect Online Marketing Strategies

Tuesday, March 9th, 2010

There are internet marketing strategies that can result in huge profits, for this the only thing you are required to know is he method of using them so that they can prove to be rewarding for you. One of the most efficient methods of making sales is by marketing your offerings on web. Online promotions have offered its benefits to a lot of customers and thus they have been succeeding from over a period of time. There are many elements that contribute to the success of online marketing and so it is important that you take tips from some professionals as it would be very helpful.

There is a certain pattern in web promotional strategies and it is very essential to follow it sequentially. Out of all the essential steps that are to be followed accordingly and are at the same time influenced by many facets, the foremost thing to decide upon the domain name. The domain name should be highly effective. The URL that you select for your business website should be efficient enough for better performance of your website.There are times when the domain name and the company name are similar. There is a great option of selecting some keywords in the domain in order to get a better response for your business site. Thus this will be a convenient way for all those who search with the help of keywords.

Once the selection of the domain name is over its now time to get along with the construction of a good website but then here also there are some elements to be considered. When you are designing different pages it is important that you take care of having some keywords inserted in each page. If you have any keyword on the web page which is speaking about the spare parts of computers then having key term related to it would be an ideal option. You can also have some places as your keywords if you are providing services to limited areas. Due to this there are high chances of you getting customers which are form the area that you have specified. These final results and standardised are powerfully displayed in the SEO Straight Talk Bonus.

Keywords can be used while giving tags and titles to the images and other different elements on your website. It is very crucial to pay attention at the usage of the key terms it’s because they should not be over used. If these elements are taken care of and implemented upon properly then there are high chances of you having an optimized website which will be suitable for all the search engines.

A few techniques of internet marketing that are not paid attention too by the web masters can lead to get efficient result but then too marketers opt for selecting those common ones that are usually adopted by all. For your website you should now plan for inbound links as it would be very helpful.

One another available option is having account with the social networking websites because this is one method by which you can promote your products well. With the help of these websites you can collect good data of some enthusiastic users and then your online marketing success. Another key tool can be using press release sites; they have a lot of continuous traffic and can help you rank high on the search engines as well. Opt for popular blogs and forums, become a member there and interact with other members leaving your web link as your signature. I must definitely advise you to receive reward of the SEO Straight Talk Bonus, a lead in the systems of internet marketing, to cause you to hold your combative rankings.

Correct selection of the marketing technique and the knowledge to use it correctly can be the best way in which any businessman can earn great rewards.

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How To Convert More Customers

Tuesday, March 9th, 2010

A unique value proposition can have a substantial impact on the success of your company. It is a clear statement of the tangible results that a customer gets from your business.

Using 10 words or less, write the best reason customers should do business with you.

The clarity of your offer is critical to generating more sales leads and conversions. It is the main reason why people should buy from you, and improving this one element can increase your sales without any additional expense. Considering the importance of this marketing statement, it is surprising that so many companies have not given it serious thought, and only provide the same weak claims.

Examples of Weak Value Propositions:

· We have the best technology in the industry

· Use our service and you will save more money

· We provide the highest quality product available

People have repeatedly heard or read these types of generic marketing claims that don’t speak to their real needs. When potential customers see your offer, you only have a brief amount of time to get their attention and make a good first impression.

Examples of Good Value Propositions:

· Our technology increases your output 22% more than the leading brand

· Save $32 dollars on every service purchased as a premium member

· The quality of xyz product is backed by our 100% satisfaction guarantee

Be Specific

Trying to keep selling propositions too brief and generic can result in using vague terms that replace a more valuable description of your offer. General industry descriptions may seem clear to you, but do they convey the most important benefits to your potential customers?

When describing your product or service, answer the question of why it’s important to your customer. Use clear and specific words, numbers, or a percentage when applicable. Replace vague modifiers with quantitative facts to make the value proposition more credible. The more specific your offer is in terms of benefits to the customer, the better.

Key Point: Provide at least one benefit that differentiates you from the competition.

Optimizing your value proposition is one critical part of the overall process of maximizing your online marketing and advertising campaigns. It can provide a competitive advantage keeping you focused on your core marketing message in the constant flow of business changes and customer needs.

Clear Value Conversions

Is your sales message in sync with your target audience? Does your online advertising say what your potential customers want to hear? If not, then you could be missing a prime opportunity to increase click through rates, sales conversions, and revenue. Be sure to optimize your value proposition by focusing the content on your website landing pages to satisfy the specific needs of visitors, while differentiating your offer from the competitors, and using a clear call to action for them to get started.

 

More information about SEO Website Design, and Car Dealer Websites

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Types of Services that Marketing Businesses Offer

Wednesday, February 24th, 2010

The number of marketing businesses has grown with the extensive use of the Internet. While in the past, corporations where the main clients that hired marketing businesses for strategic promotion, things have changed a little bit with the higher demands that characterize today’s market. There are so many marketing businesses advertising their services, that we must suspect a demand for such services that it just as high. Why and when to use them?

When you are just building a business, you can often feel overwhelmed by the huge number of choices you have in terms of strategies, tactics, tools, advertising systems and so on. How can one keep up with the transformations on the market, when one doesn’t know where to start from? Marketing businesses make profit from this general confusion because they seem to be the light in total darkness. Search engine optimization could be a totally new domain for a web investor, and without proper design and SEO a business is meant to fail online. And this is just one example of the many obstacles that come in your way.

Shop around and see what marketing businesses have to offer for your company. Keep in mind that professional services do not guarantee good wealth. Only strategic planning, good experience and market targeting can give you that! Here are the most usual services that marketing businesses perform for companies that work online:

-web site design;
-market research;
-content analysis;
-search engine optimization;
-competition analysis;
-pay-per-click advertising;
-promotional campaigns;
-constant monitoring;
-reports on performance.

The list of services could vary depending on the marketing businesses you contact, but you will see that there are common features in their main offers too. The truth is that professional assistance remains a necessity as long as the manager of a company lacks marketing training or marketing experience. One thing you could do to minimize the collaboration with marketing businesses, is to get a very solid marketing plan and follow it.

There are fewer chances to fail in the business attempts if you follow a step-by-step course of action. Remember to monitor the performance of short and long term results so as to be sure that the business remains on the right track. Marketing businesses normally implement some automatic programs that allow them to track progress. At some point in your business development, you could invest in such a tool and thus base your marketing and management decisions on more serious market analysis.

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Marketing Tip: Using Mind Maps to Help Identify Target Consumers

Tuesday, February 23rd, 2010

So you’ve got the perfect product. Maybe it’s an all-in-one toaster, omelet fryer, and coffee maker. Or a telephone that auto-dials contacts at pre-programmed times, making that Sunday afternoon phone call to mom easier to remember. How about a toilet paper dispenser that automatically re-orders toilet paper from your local supermarket when the roll gets low? Regardless of your product is, one thing is certain: you will need to identify the consumer or consumers most likely to purchase it. When brainstorming to come up with your target consumer, designing a flowchart linking potential consumers to the product will, no doubt, be extremely useful. Mind Maps are an effective and creative way to design product-to-consumer flowcharts, and they can help facilitate the brainstorming process surrounding identifying your target buyer.

Using Mind Mapping to Put Together a Product-to-Consumer Flow Chart

Mind Mapping is a means of depicting information, or “mapping out” ideas using words, images, colors, and other visual representations. Information constructed in this manner is thought to stimulate the brain’s natural learning functionality, because it makes use of several learning pathways, rather than just one. With Mind Maps, the brain can process not only words, but colors and images as well. This engages multiple areas of the brain, allowing thoughts to flow more easily and intuitively.1 Mind Maps are, therefore, a natural choice for brainstorming to create marketing flowcharts that help identify buyers.

The first step in creating a product-to-consumer flow chart is to represent the product as the central image of the Mind Map. This topic should be located in the center of the map. Next, the main uses or functions of the product should be attached to the central image, and listed on “branches” flowing from the image. Any product sub-uses that you feel are important to note should be listed next, and attached to the “branches” on “child-branches”. Lastly, decide what groups are most likely to benefit from the uses or functions your product offers, and attach them to the uses/functions using more “child branches”. The attached Mind Map depicts a flow-chart connecting the a product called the “Video Game Cell Phone” to its potential consumer(s) in the manner described above.

Identifying Consumer Target Groups From the Mind Mapped Flow-Chart

As the Mind Map shows, consumers 18-24 are most likely to benefit from all four of the listed uses/functions. Therefore, you may decide that 18-24 year olds are your most likely target base for the product. However, 25-34 year olds appear to likely benefit from three of the four uses your product offers, making those in this age group good targets of your product as well. A marketing campaign focused on consumers age 18-34 thus emerges as the strategy most profitable to pursue. Though simplistic in nature, the attached Mind Map shows how instrumental it can be in the initial brainstorming process for identifying the target consumer. By organizing initial brainstorming ideas in the manner described, marketers can save time and money when deciding where to put the emphasis for a marketing campaign.

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Easily Organize Marketing Research Projects Using Mind Mapping

Tuesday, February 23rd, 2010

When undertaking any marketing research project, the first step the market researcher needs to take is to determine exactly how the project will be carried out. Questions such as: “Will this be a phone survey or a computer survey?”, “How many respondents will be surveyed?”, and “How long will the survey be in field?” are crucial to answer before starting the research project. It is often at this point that researchers can get a bit overwhelmed; successfully organizing a research project requires the fitting together of many components. Mind Maps can provide an easy and workable way to organize a research project. By clearly “mapping out” the research project, from beginning to end, using visuals, key words and pictures, the intuitive process of finding out what the consumer thinks can naturally emerge.

An Example of Mind Mapping a Research Project

Consider, as an example, a market researcher who has been hired by her client to find out how well his fast food product rates among fast food consumers. The researcher wants to organize how the study will proceed using a Mind Map. He/She begins by listing the main research objective of the study in the center of the Mind Map, which, in this case, is to find out how fast food consumers rate Product X. Next, he or she lists the main points he or she will undertake in the study, such as “recruit panel”, and “field survey”. These steps are attached to the central objective via “branches” that flow from the objective. Here, the researcher may want to insert any pictures, colors or visuals she chooses to make the Mind Map more intuitive. For example, she may insert a graphic depicting people next to the step “recruit panel”, to represent the people in the panel.

After listing the main steps of the project, the researcher outlines the components of each step, and attaches these components to the steps via “child branches”. Thus, he or she attaches, “contact panel recruitment firm”, to the step regarding recruiting the panel. Again, he/she may use a visual, such as the logo of the recruitment firm he/she ordinarily uses, to enhance the listed components. She then continues attaching components to each main step she has listed, as well as lists, via more “child branches”, any sub-components of the components. When he/she has finished, the researcher has a Mind Map outlining the complete research project, from start to finish, along with each step that will be taken, and the aspects that comprise these steps. Moreover, since he/she has used colors, visuals and other images to construct the Mind Map, he/she now has all of the information he/she needs to begin the project distilled down into an easily comprehensible layout. The attached Mind Map diagram represents the example research project layout described above.

Beginning the Research Project

With the all-important, and arguably most challenging, step of organizing the research project out of the way, the researcher is now free to begin the work of conducting the study. As shown in the attached Mind Map diagram, all of the steps he/she needs to conduct the study are clearly laid out. Contrast this method of organizing a research project with the method of simply taking notes on a piece of paper. Absent the visual imagery and spatial layout of the Mind Map, the second method would likely be more tedious to comprehend, and thus, work with. The researcher now has the advantage of conducting the study using information that is easily organized and intuitively processed. The research project is ready to commence.

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Is murketing the new marketing?

Monday, February 22nd, 2010

has changed a lot in the last century.  Previously it was mostly about offering friendly customer support, then a more sophisticated brand design model, developed with companies taking a more planned approach to brand naming, graphics and packaging design.  But as competition increased, a custom logo design was hardly enough and your brand needed a way to showcase in front of the people.  Changes in the medium of communication during the 20th century enabled this to happen, and lead to even greater and more aggressive marketing with radio, TV and finally, Internet marketing being added to the mix.

However, because of this we now have a more competitive and crowded marketplace ever before.  People are bombarded with thousands of marketing messages each day, and so have naturally adjusted their minds to filter out most of it.  If there is more advertising, less is noticed by the general public.  A new type of marketing is therefore required that stands out and grabs the consumers interest and attention.

In his book “ I am with the brand”, business journalist Rob Walker identifies a new type of marketing that he refers to as murketing.  The name murketing emphasises the fact that these techniques succeed by blurring the boundaries between marketing and real life, making the modern definition of marketing very murky.

In a new marketing, brands able to convey more clear sales messages, and instead working to become an integral part of people’s lives that people enjoy, respect and feel engaged with.  The master of these techniques is the energy drink company red Bull, which has taken sports sponsorship to a very high level by actually organising and funding a variety of unique sporting events, many of which are free to the public, such as the Red Bull Air Race series and red Bull Flugtag.  Also, the Innocent drinks summer fair in London is a great day out for the young, trendy city dwellers in their target market.  The beauty of murketing, is that rather than risk triggering people’s natural resistance to being sold something, you actually transform your brand into an experience that they actively want to invite into their lives and which enhances their lives with no obligation.

Of course, there is a risk that people will just milk you for everything that you’re prepared to offer.  However that risk you’ll have to take and if it goes down well in the books of your target market then they will value and appreciate what you do to and eventually become loyal and enthusiastic customers who actually enjoy using products.

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Some Points in Marketing a Business Todays

Friday, February 19th, 2010

Business development goes a lot faster today thanks to the many technological improvements. The Internet has led to the appearance of new strategies for marketing a business anywhere regardless of level. The first considerable changes were made with market targeting and business management that profit immensely from the use of software programs and automatic tools. This means that the companies activating in each business sector are more flexible, innovative and adaptable to competition.

Marketing a business today needs to take into consideration relationships, business partnerships and all sorts of alliances. The traditional frameworks and theories are no longer that widely applicable, the theories, concepts and models have changed as the modern consumer reacts differently to stimulation. The Internet changes the clients’ exposure and the way they choose to come into contact with the business message. Thus, when a client performs a query online, searching for a product or service, he/she chooses what advertising messages to be exposed to .

The change in marketing a business has thus reached the essence of lucrative occupations, and the demands of the Internet user now have to be met by all companies. With every advertising campaign the focus is only on the relevant prospects, not on broad market segments. Lots of principles necessary for marketing a business have thus undergone a form of adaptation to the new market trends. The use of the incentives, the advertising message, the pricing structure and lots of others, show the signs of the new influences. The forms in which these tactics are wrapped are the ones to have changed.

For emerging businesses, the choice of strategies could be baffling. One seldom knows what course of action to choose, particularly since the diversity of options has increased so significantly. Lots of investors start marketing a business with plenty of enthusiasm and with the promise of great wealth. Yet, instant success cannot come overnight; it takes lots of effort, time, hard work and a smart choice of business tactics. If you are unmotivated in your effort, the profit will be way below the average, and the attempt of marketing a business will be a failure.

Do start building a business only if you have some solid marketing knowledge, a firm plan to act upon and lots of dedication. Professional training becomes a must, and if you can’t cover the marketing part yourself, ask for help with consultancy services.

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Some Facts You Have to Know about Network Marketing Business

Friday, February 19th, 2010

MLM or multi-level marketing marketing defines the activity of any network marketing business. According to this marketing pattern, a hierarchy of distributors is created with subordinates of subordinates selling products for a mother company. A network marketing business depends on a direct approach of customers most of the time. Since the success of Amway network in the United States, other companies converted and implemented network marketing business models but many have faced a legitimacy issue.

Lots of such organizations offer very high incentives to those distributors that manage to recruit other distributors, but it is not normal to get higher commissions for recruitment than for sales. Pyramidal systems, as these businesses are also known, have been declared illegal in many states because the financial risks that they bring. The best course of action for a network marketing business is to base all the management decisions on solid verifiable information.

Unethical, deceptive and misleading behaviors and practices have commonly been associated with different network marketing business organizations. It is for instance condemnable to exploit personal relationships to make money profit, just as it is unacceptable to promote products or services through evangelical discourse. Therefore, such unusual and condemnable practices further add up to the aggressive recruitment methods making one network marketing business more profitable than another.

There is a perfectly logical explanation why a network marketing business may not succeed on the long run: by constantly recruiting new members, people are generating other competitors in distribution, reaching a market saturation that kills their business. Lots of people have discovered that after subtracting all the purchases they made from the mother company, as well as the expenses related to the activity, they could hardly claim any profit from sales. Most distributors have discovered financial loss in such cases.

If functioning according to optimal parameters without any over-saturation of the market, a network marketing business ought to bring you enough profit to make a decent living. The mother company should pay you a commission for the sales you make. To have a legal background, such a business has to depend on an active customer list rather than on downlines. Another option is to purchase products and distribute them in them as a retailer afterwards, but this usually requires a larger money investment.

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Joint Venture Psychology: Letting Go of Perfection

Monday, February 15th, 2010

Are you a perfectionist? Do you obsess over little mistakes? Do you feel like a failure if you don’t succeed every time? Are your projects never complete because “it’s just not quite right”? If you answered yes, you may be a perfectionist. 

Although there are some benefits to being a perfectionist, there are also many things you need to let go in order to continue being successful with your JV business and relationship.

Excellence is a goal towards which to strive. It is a noble goal for any business, especially with your JV efforts. However, achieving excellence is not the same as achieving perfection. And many people who are perfectionists confuse the two frequently. If you’re looking to achieve excellence in your JV, it would be wise to gain a healthy sense of perspective.

Don’t Set Out of Reach Goals

Have you set unrealistic goals for your JV business? Many times a perfectionist will “shoot for the stars” and end up being very disappointed when they don’t reach their goals. 

Instead, you and your JV partner should set goals that are a stretch, but still attainable. In doing so, you and your JV partner will have something to strive for that is not too easy, but realistic.  

Enjoy the Process

Perfectionists have a tendency to never be satisfied unless 100% perfection is achieved. What they should keep in mind is the previous tip and enjoy the process in the meantime. Remember the old adage, “half the fun is getting there”? Enjoy the process of achieving goals. A goal is reached by checking off many steps. Each step is a move forward in the adventure. Learn to enjoy it!

Avoid Paralysis

Many perfectionists also have a tendency to over-analyze things to the point that they suffer from “analysis paralysis”. One reason may be fear of failure. They hesitate to make a decision because they’re afraid they’ll be disappointed if the decision is wrong. This kind of anxiety is unhealthy and certainly unproductive for business.

Instead, learn to make decisions and stick with them. You don’t have to rush or make rash decisions. Do take the time to weigh pros and cons of your choices. However, once you have made a decision with your JV partner, feel free to review the process along the way, but commit to your choice and make it happen.

Learn From Mistakes

Many times, perfectionists believe that mistakes are the ultimate failure. Nothing could be more wrong! Mistakes are the way we learn and improve. Don’t feel that mistakes and setbacks will ruin you or your JV business. Take the proverbial bull by the horns and make the mistakes work for you and improve your tactics, your strategies and your actions. 

Joint ventures are a great way for perfectionist to practice letting go. In a solo business or entrepreneur venture, you get to enjoy all the success, as well as the failure. However, with a JV partner, you can learn to compromise and become the achiever.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

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