An omni-channel approach not only benefits consumers but also benefits business bottom line: Research suggests that customers spend more than double when purchasing through an omni-channel retailer as opposed to a single-channel retailer, and are often more loyal. This could be due to the ease of purchase and the wider availability of products.
Affiliate marketing has grown quickly since its inception. The e-commerce website, viewed as a marketing toy in the early days of the Internet, became an integrated part of the overall business plan and in some cases grew to a bigger business than the existing offline business. According to one report, the total sales amount generated through affiliate networks in 2006 was £2.16 billion in the United Kingdom alone. The estimates were £1.35 billion in sales in 2005. MarketingSherpa's research team estimated that, in 2006, affiliates worldwide earned US$6.5 billion in bounty and commissions from a variety of sources in retail, personal finance, gaming and gambling, travel, telecom, education, publishing, and forms of lead generation other than contextual advertising programs.
Online marketing can also be crowded and competitive. Although the opportunities to provide goods and services in both local and far-reaching markets is empowering, the competition can be significant. Companies investing in online marketing may find visitors’ attention is difficult to capture due to the number of business also marketing their products and services online. Marketers must develop a balance of building a unique value proposition and brand voice as they test and build marketing campaigns on various channels.
Social norming programs such as Montana's “2 out of 3” reported a slight reduction in impaired driving by university teens. Other social norming programs showed effects in multiple university settings in reducing alcohol abuse among college age students—Florida State University reported a 15% reduction in high risk drinking among male students and 5% among females; Hobart and William Smith Colleges in New York reported a 32% reduction in student athletes drinking more than once per week.5
Google's core algorithms and its propensity to shroud its data in layers of obscurity is not something new. However, it is critical to any understanding of marketing on the internet simply because this visibility is at the heart of everything else that you do. Forget about social media and other forms of marketing for the time being. Search engine optimization (SEO) offers up the proverbial key to near-limitless amounts of traffic on the web.
Standard to any business or marketing plan is the SWOT analysis. The SWOT analysis should help you clearly define your strengths, weaknesses, opportunities and threats so that you can develop goals and objectives that are on point and tied to your overall mission. The SWOT analysis will also enable you to understand what differentiates you from your competition and how you should position yourself in the market. It will also help in developing your messaging and your unique selling proposition. Brutal honesty is imperative to a truly insightful SWOT. Use bullets and aim for 4–5 in each section. Limiting your lists will help you to focus on the most critical points and help retain focus.
Social marketing campaigns use multiple media channels to reach and saturate a target audience bringing about behavior change. A social marketing campaign may use social media tools in combination with other approaches, such as traditional media (billboards, radio, TV, etc.), events, and promotional materials, to reach a target audience and bring about the desired behavior change. A plan for implementing a social marketing campaign, will guide development, implementation, and evaluation.
The final stage of any marketing planning process is to establish targets (or standards) so that progress can be monitored. Accordingly, it is important to put both quantities and timescales into the marketing objectives (for example, to capture 20 percent by value of the market within two years) and into the corresponding strategies. Marketers must be ready to update and adapt marketing plans at any time. The marketing plan should define how progress towards objectives will be measured. Managers typically use budgets, schedules and marketing metrics for monitoring and evaluating results. With budget, they can compare planned expenditures with actual expenditures for given period. Schedules allow management to see when tasks were supposed to be completed and when they actually were. Marketing metrics tracks actual outcomes of marketing programs to see whether the company is moving forward towards its objectives (P. Kotler, K.L. Keller).
Too much too soon. Stick to one website to begin with. Don’t get distracted by shiny new niches. This will only dilute your efforts. It’s absolutely not a waste of time to spend hours on end researching the very best niche for you to enter into. The commission, cookies, product and even the advertiser’s website all have to be excellent. The last thing you want to do is invest money in creating your own site only to send visitors to an advertiser’s site that barely converts a single sale. Would you buy from the advertiser’s site? Question everything before you spend a single penny on building your new site.
Cost per mille requires only that the publisher make the advertising available on his or her website and display it to the page visitors in order to receive a commission. Pay per click requires one additional step in the conversion process to generate revenue for the publisher: A visitor must not only be made aware of the advertisement but must also click on the advertisement to visit the advertiser's website.