Web Strategy Doesn’t Have To Be Expensive, It Just Has To Be Effective

Web Strategy

Web Strategy

Often business success is made by innovative decisions, sometimes by the fall of an exhausted competitor. However, when journalists write about why a business took one course rather than another, they are most interested in identifying a single decision that was made by one person.

In the current economic climate, you can probably think of a number of companies where one person was blamed for an entire company’s demise.  While there are many examples in the news, we tend to overlook some of the more obvious ones that include poor choices in marketing budgets. One example is the number of companies that continue to ignore the importance of professional search engine optimization; search engine marketing; social media; web analytics; content management systems CMS; web translation and localization; and other web strategies.

There are many reasons why Marketing Directors may be hesitant about investing in web strategies.  Some Marketing Directors are overwhelmed by evolving web trends, new jargon and other complexities.  Others believe that web strategy requires substantial investments that don’t payback in their industries.  There are also Marketing Directors that invested in a web strategy once that failed, and will not try it again.

Regardless of the importance that you place on your web site, Internet usage continues to increase.  In the past, having a website meant that your firm was on the cutting edge of technology.  Today, all legitimate businesses have websites, and most recognize that having a website is not only a mark of professionalism, but also a critical component in their sales and marketing strategy.

A successful web strategy requires a continuous and dedicated effort by experienced web professionals. When the responsibilities of web presence are left to inexperienced workers, even the best-intended strategies can backfire and cause irreparable damage to a company’s reputation. In other cases, a company may invest considerable time and money into web strategy efforts and see little or no results.  This is often the case when an employee is given the responsibilities of managing web strategy, but has not received continuous training and kept up with changes.  This is because the formula to achieve high rankings changes continuously. On a regular basis, Google, Yahoo, Live (Bing), Ask and other engines make changes to their ranking algorithms. Therefore, what works today may not work tomorrow for your organic search engine optimization (SEO) or search engine marketing (SEM) strategy. .

At THE MARKETING ANALYSTS, we believe that it is critical that your web presence be a part of your marketing mix. With our talented team of professionals, we will develop a solution that gives you a competitive advantage. We offer a comprehensive line of web solutions that includes content management systems (CMS), Search Engine Optimization and Language Translation and Localization.  Contact us today for a no pressure, professional evaluation and learn what our team of web consultants can do for you.

Divide and Conquer with Market Segmentation & Target Marketing

market segmentation & Target Marketing

Market Segmentation & Target Marketing

With over 6.7 billion people in the world, it’s nearly impossible to satisfy everyone with a single marketing mix strategy. With the exception of unbranded, plain labeled package goods that are aimed at the mass market, a marketing strategy that attempts to satisfy everyone is destined to fail.

Many years ago soap manufactures determined the need for special marketing strategies to target individual markets. For example, Dove targets soft skin and Irish Spring promotes extra sex appeal. Therefore, capturing large portions of the market often require that firms use market segmentation strategies and develop custom marketing mix strategies to target market each segment.

What is Market Segmentation?

Market segmentation is the process of dividing the total market into several homogeneous groups. By adjusting a marketing mix strategy for a specific market segment, companies can focus on satisfying the needs of specific portions of the target market.

THE MARKETING ANALYSTS use advanced multivariate statistical analysis to segment markets. Often, our segmentation techniques will combine demographic, psychographic, geographic and perceived product benefit data to identify homogeneous customer groups. By doing so, we provide marketers with better information to target, attract and capitalize on similarities within a segment.

Strategic Marketing Plans with Predictive Data Mining & Marketing Mix Models

Marketing Mix Models

Marketing Mix Models

Once a year, Marketing Directors take the important steps of planning the budget for the upcoming year.A fortunate few will build around their previous plan and possibly try to incorporate something they’ve been thinking about for years.Unfortunately, the majority will be in cash strapped organizations that have already experienced months of cost reductions and slashed budgets.In these cases, there are difficult decisions to be made on how to best invest their limited resources while maintain or growing profits.

For decision support, a growing number of Marketing Directors in Fortune 500 corporations are turning towards Marketing Mix Models (MMM).By turning to analytical marketing methods, Marketing Managers can determine the best way to allocate their funds and maximize their strategy.

The typical Marketing Mix model is based on multivariate statistical models, neural networks and time series forecasting methods that use sales and marketing data as model inputs to project the impacts of various product, price and promotional tactics on sales.

With the adoption of data warehouses by most companies, marketing-mix models are gaining popularity particularly in the consumer packaged goods, Financial Services, Automotive, pharmaceuticaland Hospitality industries.In fact, P&G, Kraft, Coca-Cola, Pepsi and other Fortune 500 companies are already considering it an integral part of their marketing planning.

While Marketing Mix Models can simplify planning decisions, there are some limitations that must be taken into account based on the calculations used.However, CEO’s are demanding increased accountability and effectiveness. Without tools like Marketing Mix Models, it is difficult for marketing organizations to know how best to allocate spending, or to justify spending at all.

This blog entry was was written by The Marketing Analysts translation division.  We offer language translation solutions for all of your professional needs.