Marketing and Marketing terms
Old Marketing - sometimes called interruption marketing. This is what we have come to know and hate - those endless adverts on TV which you don't get. I am sure someone has told you that if you don't get it then it is not aimed at you. This is true - but why do you have to watch it? Because you are just a person, not a target market! Roll on New Marketing.
New Marketing - consumer power rules. You might have heard of all these social marketing sites like facebook and twitter, well your customers are talking to each other - ask yourself "do they like what they see?" To really move forward you have to find out what they are saying, understand what they want and then give it to them. New Marketing is taking over and here to stay - Ignore it at your peril!
The Long Tail - you might not have heard of this but you will understand what it is. In the past only about 20% of your products sold regularly - The Hits - (this is the head on your products/sales graph) and 80% were just filling your shelves (the tail). Well as people become more independent they want personalised and tailored products and services. The long tail is taking over from the head. Can you cope with this?
SWOT Analysis - Strengths, Weaknesses, Opportunities and Threats - a great way of analysing how your products and services match your customer's requirements and expectations, cross referenced with how good you are at your business and how market ready your products are. Complicated? - not really if approached properly. Important? - Extremely!
Marketing Strategy - not that old chestnut. I haven't got time for that! Probably not in this climate but strategy is not just a long term thing, short term strategies will drive all your tactics and business development activity and help you grow business straight away. The long term plan should be developed around a vision or goal and you need one of these to keep focussed - especially in hard times.
Tactical Marketing - this follows on from short term strategy really and focusses on understanding your customers and matching products and services to their needs. It should be the core of your sales, promotion, business development and CRM (customer relationship management) activity.
Search Engine Optimisation - most websites have not been optimised to respond to customer searches. They are often information rich - such as product descriptions for example - but rarely are these descriptions matched to those words and phrases customers use in the search engines. The secret of internet marketing is making it very easy for your customer to find your product, choose it and then buy it.
Pay per Click (PPC) Marketing - this is a very viable way of getting your website in front of the right customers but it requires a great deal of preparation and strict control on advertising budgets. Basically you pay for each customer that finds your website, or web page. It does not guarantee these customers will buy from you, that is down to SEO, but it gets your name out there. Can easily be done very badly.
Web & Internet Marketing - reflecting the Long Tail approach to niche requirements a web presence is a must. The ultimate way of satisfying niche requirements. If you are selling a specialised product or service you need to expand the actual size of your market using the web and push your customers buttons to presuade them you have the answer to their problems. The world becomes your oyster!
Target Marketing - target markets are getting smaller but there are more of them. Hail the rise of the niche! You have heard the TV adverts 'I am not a target market' - well you are - but now we will be putting the customers into smaller boxes which better understand their individual interests. No longer can people be put into general catagories for bland and unfocussed advertising
