Archive for May, 2008
May 20, 2008 at 12:12 am
· Filed under Internet Marketing ·Tagged Internet Marketing
Strategy in Creating Hyper-responsiveness
Association in memberships, create value with your target market groups. Savvy business owners have a way of taking advantage of such behavioral traits and deliver to this select group. This encourages hyperresponsiveness. Reward your customers by offering free promotions, communication and feedback in customer service.
Strategy in Providing Multiple Revenue Sources
Market through affiliations. Many affiliate programs are free to participate. Commission Junction is a great recommended affiliate to start with and drive ongoing revenue to your website.
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May 20, 2008 at 12:11 am
· Filed under Uncategorized ·Tagged Referral Marketing
Motivating Your Sources
1. Purpose or Goal
2. Benefits
3. Key Action Steps
4. Applicability Requirements
5. Researching
6. Reporting
7. Source Seeking
8. Advice Seeking
9. Advising
10. Shopping
11. Announcing
12. Purchasing
13. Connecting
14. Recognizing
15. Inviting
16. Schmoozing
17. Collaborating
18. Promoting
19. Sponsoring
20. Auditing
Types of Sources
1. Inspired to help
2. Have resources
3. Make good referrals
4. Trained to to the job
5. Have time to help
6. Would make great referrals
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May 20, 2008 at 12:11 am
· Filed under Uncategorized ·Tagged Referral Marketing
Rewards of Referral Marketing
It is much better to do business with people who trust you. The referral lead is a better prospect than someone you have never met or have spoken with before. Business professionals also are drawn towards referrals because they bring in customers at little or no costs. Cold calling is a waste of time as well as advertising unless narrowly focused on specific markets can be relatively inefficient. A single referral can bring in a chain reaction of business. The best thing about referrals is that they bring in customers with a positive attitude, customers tend to trust businesses because they believe that their friends or business associates. Referrals are the most reliable, most rewarding, least expensive way of rounding up business. Almost every enterprise gets some of its busienss by referrals. If you provide good products or services, word does get around. Word of mouth is a natural way of doing business. It is human nature to speak to others about the same mistakes we made and discovered. When you intend to or not, you have satisfied some of your customers and generate business through referrals. In referral marketing, the goal of the process outlined in terms of building a base of customers, clients or patients by obtaining support from specific sources.
RMC – A Referral Marketing Campaign
A purposeful set of actions taken toward this end
Developing a Marketing Plan
Referral Marketing Planning is the means you use to plan and implement your RMC
What is Relationship Development?
The process and practice of establishing an acquaintanceship and cultivating it from a trusting friendship and lasting professional association.
Who is In Your Network?
A systematically and strategically selected group of people on whom you can call as the need arises. It is a diverse, balanced powerful system of sources. People from all facets of the busines sworld, will provide you with referrals, knowledge and support that you need in specific areas of your business or profession.
More About Referrals:
Vendor: Seeks and expects to get referrals
Source: Asking your source to provide you with referrals
Prospect: Prospective buyer of a product or service
Customer/Client: When a prospect decides to purchase a product
Business Opportunities: Having the potential to generate revenue for your business
Top Reasons Why Referrals are Effective:
Is easier to close
Has far fewer complaints
More loyal
Remains a client
More trusting
Generating Referral Sources:
Word of Mouth Marketing
Casual Contact Networks
Strong Contact Networks
Community Service Clubs
Professional Associations
Social Business Groups
Womens Business Organizations
Networking Groups
Ask Orally
Ask in Writing
Incentives
Seminars
Speaking Engagements
Recognition
Internet
Online Services
Subscription to Referral
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May 20, 2008 at 12:10 am
· Filed under Uncategorized ·Tagged Referral Marketing
Referral Marketing Plan Steps
1. Mission Statement
2. Products and Services
3. Target Market
4. Competition
5. Matching Needs and Prospective Sources
6. Tactics
7. Referral Marketing System
8. Time Budget
9. Calendar
10. Cost Budget
11. Sales and Referral Projections
12. Tracking and Evaluation
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May 20, 2008 at 12:09 am
· Filed under Uncategorized ·Tagged analytics analysis, analytics management, analytics tools, blogs, brand marketing, business analytics, business intelligence analytics, business marketing, campaign marketing, campaign strategy, campaigns, companies strategy, company analytics, company strategy, competitive advantage marketing, competitive advantage strategy, consulting, consumer strategy, corporate analytics, corporate marketing, corporate strategy, crm analytics, crm marketing, customer analytics, customer strategy, digital media, e-Commerce, ebook, ecommerce, Email Marketing, emerging analytics, etraining, Internet Marketing, management, niche, online marketing, pay per click, ppc, sem, seo, Virtual Strategy, Web 2.0/3.0
Product Service Description, Marketing Key Points:
Write the name of one product or service you will market by referral
Describe the product or service – size, shape, color, activities
What are the key features of the product or service?
What is the purpose of this product or service?
What needs does this product or service satisfy for users?
How is your product or service delivered?
How much does your product or service cost?
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May 20, 2008 at 12:07 am
· Filed under Uncategorized ·Tagged Uncategorized
Internet Marketing Today
The Internet hosts an oversaturated marketplace. With an oversaturation online, getting recognizes can be quite difficult for any company working to develop a visible presence. When, I consult with clients a great majority of the problem is that most website companies that are online have the wrong approach to there Marketing. On the internet, in any website marketing is 80% of the success or a product or service business. To build a competitive edge on the web, a company has to have a strong Marketing presence developed. Ideas, a solid marketing plan, execution and strategy are determining factors of success. To be successful in Internet marketing, and in any general marketing practice you must understand what you target customer wants. To further elaborate, the following are key points that online consumers peruse for on the Internet:
1. Information and Content
2. Interactivity
3. e-Commerce
4. Free Information, Software, Articles
Simple Steps to Developing Your Internet Marketing Approach
1. Set specific goals – What do you expect to accomplish in the next 3, 6 to 12 months?
2. Vision – Are there creative, specific strategies that are in mind for your companies marketing?
3. Focus and Commitment – Successful website marketing is creative, consistent and utilizes strategy to increase sales long term
4. Discipline – Website marketing requires responsibility and attention to details. Discipline and hard work ethic is key.
5. Patience – Successful website are built in time. It is wise not to rush into developing a successful marketing plan.
6. Setting Goals – Be realistic, understand your market and be focused in what you expect as a goal
7. Desire to Succeed – Are you driven, ambitious, desire to succeed in your given market?
8. Ethics and Morale – Understand professionalism, be ethical in your methods to preserve customer loyalty
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May 20, 2008 at 12:06 am
· Filed under Uncategorized ·Tagged Uncategorized
Getting Customers to Buy More
1. Ask them for more
2. Find out what else they are buying
3. Become a sole supplier
4. Invite them to come back
5. Order things just for them
6. Don’t become attached to what you sell
7. Do more for them
8. Increase your convenience
9. Allow them to multi-task
10. Do everything immediately
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May 20, 2008 at 12:05 am
· Filed under Uncategorized ·Tagged Uncategorized
Evaluating Internet Marketing Plan Results
An essential part of any marketing plan is measuring the results.
Main tools for tracking and recording data:
Person Contacted
Type of Contact
Contact Date
Internet Marketing Plan Questions:
What were the circumstances that led to this contact?
What were your goals for this contact?
What topics were covered or discussed?
What relationship development and referral marketing tactics did you use?
What actions did your source agree to take?
What did you gain from this contract?
What did your source gain as a result of this contact?
How much time did the contact take?
What is the total cose of all expenses incurred?
How would you rate overall results?
What could have you done to produce better results?
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May 20, 2008 at 12:05 am
· Filed under Uncategorized ·Tagged Uncategorized
Design a Strategic Marketing Plan
What is a strategic marketing plan? A strategic marketing plan is the personalization of your website marketing strategies that is aimed to increase the number of visitors to your website. By doing this, you establish visitor loyalty and reach specific goals.
Key Points
Executing a Strategic Marketing Plan
Execution is followed by foundation.
Always Market your website
Execute many successful ideas in a strategic manner
Understand your target market, what do your consumers want?
Understand your specific goals
Increase Visitor Loyalty
Personalize Website
Beta Test Users
Branding Development
Fresh Content
Interactivity
Information Email Newsletters
Provide Information
Test Your Audience Feedback
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May 20, 2008 at 12:04 am
· Filed under Uncategorized ·Tagged Uncategorized
All About Building Relationships
The key in generating business by referral marketing is relationships. Referral marketing works because these relationships work in both ways as well as benefit from both parties. A referral marketing plan involves relationships of many different kinds. The most important would be those with your referral sources. Any successful relationship whether a personal or business relationship is unique to every pair of individuals and evolves over time. It starts out fragile, full of unfulfilled possibilities and expectations, eventually growing stronger with experience and familiarity. It matures into trus and commitment.
Five Key Points of Strong Referral Building:
Creation
Growth
Strengthening of Business
Professional
Personal Relationships
These key points are useful for assessing the status of a relationship and where it fits in the process of generating referrals
Visibility
Credibility
Profitability
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