Marketing Decision Making

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Marketing personnel must make decisions whenever they perform any of the marketing functions. Marketers must continuously decide what is to be done, who is to do it, how it is to be done, and when and where are the best time and place to do it.

How To Make Decisions

Step 1: Define idea or problem to be acted upon. Before seeking answers, you need to identify the real problem. The first step in decision making is to find out what the problem really is; only then should you work toward a solution or answer. Defining the problem is not an easy task in most cases. What appears to be the problem might at best be merely a symptom that shows on the surface.

Step 2: Collect, interpret and evaluate relevant information about the problem.

Usually there are many sources from which to gather information affecting a decision. Sometimes standing orders, policies, procedures, rules, and regulations provide relevant information. Other sources of information include your own experience, company records and reports, discussion with individuals and personal observations.

Step 3: Develop possible alternative solutions. The next step is to develop alternative ways of solving the problem or taking advantage of the opportunity. Alternatives are possible courses of action that can satisfy a need or solve a problem. Usually several choices are available to the decision maker if he or she is able to identify or develop them.

Step 4: Select the preferred or “best” alternative. You have reached a point where you must make a decision. You should logically and rationally pick the alternative you think is most desirable for all concerned from an objective, ethical, and practical point of view. Sometimes the preferred alternative involves cost/benefit analysis and risk analysis.

Cost/Benefit Analysis:

You estimate what each alternative will cost in terms of human, physical and financial resources. Then you estimate the expected benefits. Finally, you compare the two estimates and select the one with the greatest “payoff” where the ratio of benefits to cost is more favorable.

Risk Analysis:

Risk, which is the possibility of defeat, disadvantage, injury, or loss is inherent in decision

making. You should try to minimize the risks involved by effectively forecasting outcomes and considering all variables involved.

Step 5: Implement the decision. Effective decision making doesn’t stop when you choose from among alternative solutions. The decision must be put into operation.

Step 6: Follow-up, evaluate, and make changes if needed. Follow-up and the evaluation of the outcome of a decision is part of the process of decision making. Follow-up and evaluation of a decision can take many forms depending on the nature of the decision, timing, costs, standards expected, personnel, and other factors. If the follow-up and evaluation indicate that something has gone wrong or that the results have not been as anticipated, then the decision-making process must begin all over again. This may even mean going back over each of the various steps of the decision-making process in detail.

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Jessica Jellema – Results Strategist

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Jessica brings a unique balance of skills and insights to the Complete Media Team. Brandishing an Associate’s Degree of Applied Science as a Visual Communications Specialist, Jessica monitors marketing results to assure our clients are benefiting from a positive return on their marketing investment. Extremely detail oriented, she also manages the agency’s work flow, making certain projects are on schedule (or ahead of schedule!) and that clients receive quick responses to any inquiries they may have. Jessica’s specialized skills and laser beam focus on detail make her a great asset to our team and our clients. In her “off” time, Jessica enjoys assisting her boyfriend wrench on his Buick Regal. It has a super charger. We know. Buick Regal…super charger. Sounds made up. It’s not.

 

WHAT IS WEB ANALYTICS?

Nate Anderson Public Relations and Media Strategy Complete Media Inc.,

http://www.logaholic.com/manual/references/what-is-web-analytics/

The Authorities DAA Definition of Web Analytics

Web Analytics is the measurement, collection, analysis and reporting of Internet information for the functions of understanding and optimizing Web usage.

DAA is the Digital Analytics Association, an organization that identifies industry requirements for the web analytics field.

Is Web Analytics just an elegant word for internet site data?

Web Analytics is often used with Web Site Statistics, yet there is a distinction.

Internet website data (software application) deals with straightforward realities like: How many site visitors did I have last month? The target of site stats is to notify you of these easy truths.

Internet analytics has a different angle, evaluation as apposed to basic reporting. Web analytics goes into a lot more detail and offers a lot more metrics. It tries to make underlying trends clear and ‘the why’ things occur on your website like they do. Its objective, as the definition states, is to assist you boost your site and online marketing.

Naturally there is some overlap between the two, so use this analogy: If webstite stats are the speedometer of your vehicle, internet analytics is the entire dashboard.

How do Web Analytics function?

Simple. Initially we need some data to analyze. A lot of sites have a log file that contains the raw information you have to analyze, it’s called the access log. Conversely, information could be gathered by ‘labeling’ pages with a special javascript code.

The Impact of Web Analytics

What internet analytics will indicate to your business depends on whether or not you do something about it based upon the info it gives. It’s my experience that once you are confronted with this brand-new information, these new understandings and new revelations, they will be extremely hard to dismiss.

In my opinion, internet analytics is THE important tool for any online business. It is (or it SHOULD) be the platform of your internet visibility. It is the feedback that shows you what you are doing, and if it’s working.

5 WAYS TO FIND MORE TIME TO BUILD YOUR BUSINESS

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Today, starting a company is much easier than before. Thanks to modern technology, you don’t need lots of resources, a huge team or numerous degrees to create a successful firm. Today, there are essentially thousands of economical tools offered to business owners that can help bring their vision to life. Whether you’re developing a company from square one, or aiming to improve an already existing one, there are powerful and available modern technologies that can make a significant effect on even the tiniest business.

As most of us know, time is one of one of the most crucial aspects to an entrepreneur’s success, listed below are five steps that small companies can take to acquire some of that time back.

1. Punch above your weight.

If you are ready to invest time into your idea, put a little money in to produce your brand name. A website, social web pages and a detailed approach to follow could make you seem much bigger than you are.

2. Automate– as much as possible

Time consuming, yet important company processes such as invoices, repayments, and email marketing can all be automated, dramatically lowering time commitment.

3. Make your stage and size a benefit

Being tiny most likely means you put on lots of hats and don’t have the luxury of large budgets. Nonetheless, it means you can decide on the fly, course correct and also get in touch with your customers far more thoroughly compared to larger firms.

4. Hire an online aide

Your time is too valuable to squander it on ordinary jobs like scheduling meetings and making lunch bookings. Instead, collaborate with a digital assistant. Most importantly, outsourcing the position permits you to save money on wage, perks and overhead expenses.

5. Unchain yourself from your desk

Innovation today means you can run your company from anywhere. Take advantage of complimentary collaboration devices that allow you to simplify company implementation on the go. Technologies like Skype and Blue Jeans Network allow you to aesthetically get in touch with employees, coworkers and customers regardless of your location while cooperation suites like Google Docs and similar solutions allow real-time teamwork on practically any project.

March 16: Sell your products and services online

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Keep It Local Online

When online shopping first hit the scene, consumers were trending only towards the megasites that we’re essentially the Wal-Mart of online stores. (You could do that shopping in your pajamas, too. Just like Wal-Mart!) As online shopping has stabilized and more Mom and Pop style companies have come on the scene, online shopping has become more and more a part of the regular economy.

The latest trend is for online sales to increase business for even local shops. Rather than driving across town, many consumers are choosing to cruise a local companies online store. Which means you should probably get one so you can close the deals that don’t make it through your doors.

Learn how to integrate online shopping into your web marketing strategy on March 16th at noon. Always at Complete Media. $10 for the general public, free for the Complete Media Circle.

12 Ways to Get Leads

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Make a list– Whether by email, telephone, or mail, we’ve all been targeted by marketers that got our names from a mysterious “list.” Some of these lists are available from companies that offer call lists for direct marketing. However, for a lot of small companies, the very best list is the one you develop on your own by recording info from customers, people who visit your site, and networking contacts.
Ask current clients for referrals– Who better to spread the word about what a fantastic job your company does than a completely satisfied customer? You can ask customers to provide you the names of people they know that would possibly use your services, or ask to connect to with their contacts. Another version of this tactic is reaching out to your existing network (family, friends, previous colleagues, ect.) and making sure every person knows exactly what you do and who you do it for. If you want to kick this technique up a level, invite them to meet for lunch or coffee.

Take advantage of the power of email– Email is another great lead-generator. Leverage the lead-generating power of your listing by including social media links. Extend your reach even further by co-marketing with one or other local business. If you each come up with some kind of giveaway, and promote the free gift, you can use each other’s subscriber list.
Have a competition– Contests and giveaways are a wonderful method to attract new leads. If the reward is appealing to the people you promote your contest to, they will discuss it with their buddies. (And be sure you remind them to do so!) Make sure you have a plan in position to reconnect with the contest goers and advertise your products after the contest has finished as well.
Guest writing a blog– Guest blog writing has actually acquired a bum rap recently. If you have clear objectives and offer terrific content, guest writing a blog could still be a great way to drive traffic to your business.
Attend an in-person event– Lately there has been so much electronic advertising that many businessmen forget the personal touch. Venture out and meet some individuals. If you cannot find the perfect location, begin your own. It’s simple using websites like Meetup.com.
Be useful– If clients aren’t beating a course to your door, you likely have some free time on your hands. Go wherever your clients “hang out”. Take part in relevant forums and share your expertise. Don’t pitch, merely assist. You could also do the same on LinkedIn, Quora, Yahoo Answers, American Express OPEN Forum, and various other specific niche websites.
Make use of a holiday as a tie-in– The weeks between Christmas and the New Year are when the majority of businesses think of holiday advertising and marketing ideas. But there are lots of other holidays and seasons that lend themselves to holiday-style marketing methods. An example we’re all knowledgeable about is the infamous “Back to School” sales businesses have.
Obtain from other sectors– Don’t feel constricted by the “common” lead-gen tactics your competitors use. Mix it up. If you always do electronic advertising and marketing, experiment with direct mail.
Use promotion to gain leads– Some entrepreneurs have had terrific success using press releases, PR, and various other techniques to advertise their company. Just because your business may not be “breaking news” does not mean it’s not relevant.
Mix online and offline techniques– Who says you have to choose between online and offline methods? Try using 1 or 2 of each. Some lead-gen methods have online and offline equivalents. For instance, classified ads are an age-old advertising method. If they’re not effective for your business offline, consider making use of an on-line comparison like Craigslist.

7 CRITICAL THINGS SEASONED ENTREPRENEURS KNOW

Nate Anderson Public Relations and Media Strategy Complete Media Inc.,

1. Dismiss your mom and dad

Do not, under any kind of condition, ask your friends and family about company concepts. They appreciate you and can not be unbiased. What you need is unfiltered, honest feedback … and you’ll only acquire that from people which don’t know you.

2. Accept that brief is best

Can you sum your business up in a few seconds? Your company has to be describable in one short yet wonderful sentence. That truly is a priority.

3. Continuously challenge the standard

When (and this is inescapable) you’re told that you can’t do something, challenge it. And after that, test it again.

You cannot innovate without breaking a mold or two. Do not take no for an answer and you’ll discover that the word “can’t” brings about a possibility. Each objection you overcome is a giant leap forward, and it’s those jumps that will eventually identify your business.

4. A little pompousness excels

The demon that sits on your shoulder could periodically whisper in your ear, “you are the most effective individual in the world to lead your company”.

If you don’t really believe that, no one else will. For instance, would you work with an accountant who didn’t appear to do your books on time? I question it.

There’s nothing more disturbing than a leader who doesn’t rely on him- or herself.

5. Forget income. Profit is everything.

When it concerns business practicality, earnings is everything– everything.

I’ve talked to plenty of business owners who worried that increasing their margin would lead to losing half their clients. Hardly ever is this the situation, and hardly ever do individuals voluntarily decide for the most cost effective alternative. Diners at a Michelin-starred restaurant do not mind waiting a bit longer for their meals to arrive; as a matter of fact, they’ll also pay even more for their dish.

6. Surround yourself with great individuals.

Wonderful people are everything. One of the very best business decisions I’ve made as an entrepreneur is handing over the tasks I can’t do (or do not appreciate) to people that are great in their particular fields.

Ability spotting is a skill in its own right, and is something that every entrepreneur should look to create.

Surrounding yourself with fantastic individuals will be the secret to your success.

7. Learn to Surf.

You’ll begin by standing at the water’s edge, looking apprehensively at the big sea stretching in front of you.

Then, as soon as you’re out there, people will tell you to capture the small waves, but you’ll wish for the most significant.

The wise surfers conserve their power to ride less waves, picking them carefully and riding them brilliantly.

Do that, and when you’ve ridden one well … you’ll really want to continue going back for more.

Much like being an entrepreneur.

How To Steal Your Competitors Customers

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Talk with the rumor factory

Not everything you hear holds true, but there’s a great deal to be picked up from the talkers in your industry. You’re likely to learn important information like new initiatives they’re attempting, or clients that are unhappy.

Naturally, when you’re speaking to the rumor mill, remain closed-lipped regarding exactly what you’re doing. If they’ll chat to you concerning others, they’ll talk with others about you, right?

Check their LinkedIn Profile

If you recognize the important people in your rival’s business, visit their LinkedIn profile. Connect to those people and make calls as well. Then, let them understand why you’re far better.

Other Social Media Strategies

First Facebook. Go to your competitor’s page, and check out who is commenting and sharing their articles. Appeal to those individuals and they could begin following you, also. Do the exact same on Twitter. As soon as you have them paying attention, you could use social media strategy to present your value.

Make it Personal

Everyone wants to be treated well. If you know somebody that is collaborating with your rival, give them the star treatment. Offer a solution for free, take them to lunch, build a relationship, and make them seem like a VIP. Your competitor most likely isn’t doing that with old customers. Now is your chance.

ALWAYS Put Your Differences on Display

Your company needs to share stand out qualities. Just stating, “we value our consumers” or “we’re dedicated to the best” could make for excellent advertising and marketing fluff but it’s not creating clients. Be certain how you’re different and you’ll take customers from your rivals.

BRANDING MISTAKES YOU SHOULD AVOID

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When you think about great marketing, Coca Cola’s distinctive red as well as white lettering, Nike’s swoosh and also Adidas’s three stripes most likely entered your mind. Yet as a little business, envisioning the degree of assets that’s gone in to these brand could make the idea of undertaking your very own branding effort seem overwhelming.

It’s easier than you may think. Simply make sure to stay clear of some typical mistakes and also branding errors.

1. Not understanding the power of a brand is a common mistake. From a customer-relationship viewpoint, having a solid brand is undoubtedly useful. As an example, when consumers think of an online shoe store, they think about Zappos. You will want to have that sort of instant, clear-cut partnership with your consumers.

Identifying your brand name is as additionally important from an SEO perspective. Google wants to focus on top quality lists in its organic search results, since visitors are most likely to select them. More clicks have the tendency to generate more customers, meaning that that concentrating on brand name building could possibly cause unanticipated website web traffic and also recognition perks.
2. Neglecting to develop defined brand standards is another common mistake. When producing a brand identity, you’ll need to create defined guidelines that cover all the following components (and also others that relate to your area). Here are a few components to take into consideration.

Company logo (both an overarching company logo and any type of company logo variations your business makes use of for individual product).

Brand name color palette.

Taglines.

Font styles as well as typography.

The “voice” utilized in your writing.

Images.
This listing isn’t really detailed. If there’s some other branding characteristic you really feel is needed to identify your business, include it to your brand guidelines documentation. Without them, your marketing efforts certainly do not have the uniformity and consistency needed for success.

3. Overcomplicating your brand can be a mistake as well. Look at exactly how Coca Cola’s traditional script logo has actually transformed considering that its very first usage was in 1887. While the font styles utilized have varied slightly, the initial look is still very similar.

Little companies could learn a lesson from this beverage market giant. It can be alluring to add even more variables than you really need. However your logo design does not have to involve 6 different colors, and also it doesn’t 6 specific graphic components to represent the different arms of your company. Clean, easy elements are more likely to be recognized and stick in consumer’s minds, so avoid overcomplicating your company’s logo.

5. So you’ve crafted detailed brand standards as well as executed them across every one of your business’s marketing materials. However, two months in the future, you have to develop a new ad for a line of product you’re introducing, and now you really want to add a new color to the advertisement. Wouldn’t that be great?

No. Remember, every time you drift from your brand, you dilute their power little by little. By doing this, you’re essentially presenting a brand-new picture to your consumers, decreasing the strength of the organization.

6. Establishing and implementing your small businesses brand guidelines are only half the battle. Be aggressive in keeping track of where and exactly how others are using your brand. If not, you could have an ad showcasing your logo design but with the wrong colors, rivals creating a logo design that looks comparable. It is your brand, now be the brand police!

4 THINGS YOU NEED TO KNOW BEFORE STARTING A CAMPAIGN

Nate Anderson Public Relations and Media Strategy Complete Media Inc.,

https://www.americanexpress.com/us/small-business/openforum/articles/4-things-you-need-to-know-before-starting-an-advertising-campaign/

Here are some guidelines you must follow before beginning an ad campaign:

1. Decide your goal for the ads.

For 95 percent of you reading this, your goals need to raise sales or compile leads. This indicates quantifiable results for every campaign, or hopefully, each specific promotion.

The “other” sort of advertising and marketing that gets the bulk of the interest– but creates the least earnings– is branding or “brand understanding.”

Branding usually makes a distinction if you’re a company like Coca-Cola and you wish to remain in an individual’s thoughts long enough that he in some way feels obliged to purchase a Diet Coke from the vending equipment rather than a Diet 7-Up.

As soon as you’ve picked your goal, your advertising and marketing system need to be based upon your goals. Your ads must consist of a call to action to get your item, visit your website or place an order.

The benefit of internet advertising is that you can immediately start gathering email addresses, telephone number and home addresses to start sending out direct mail.

2. Target your ads to the appropriate individuals.

If I were writing this post 10 years ago, I would claim that if you’re promoting to 22 years of age, remain out of the Wall Street Journal. Nowadays, that suggestion is obvious and nearly unimportant given the sources offered.

Using the Internet, you could acquire a more targeted audience for your ads. Google AdWords, for instance, lets you target by keyword phrase search and also location, while Facebook lets you target by age, sex, passion and nearly anything else you could think of.

If you’re going to purchase space in a journal or a web banner, make certain you look into the demographic of the audience before paying for anything. Any major marketing source must have a handout or PDF to send you about who their readers are. If they don’t have something such as this, that is a red flag.

3. Track as much as you possibly can.

I wanted to title this section “Track everything,” but that’s simply not possible for numerous business owners. If you have 100 percent of your company online, then you could figure out nearly all your traffic sources and results utilizing an excellent analytics program.

For non-online ads, your best choice is to use voucher codes whenever appropriate. This means you will need to offer some reward, such as a price cut or a freebie. From there, you could have your personnel keep an eye on each time somebody discusses the listed price cut. If you’re taking phone orders, you can ask an individual to point out a code provided at the bottom of the ad. The possibilities are wide open with this.

4. Consider all your numbers when you make a choice.

Do these numbers sound familiar to you?

Total Sales.

Conversion Rate.

Click-Through Rate.

Earnings.

ROI (Return on Investment).

Long-Term Customer Value.

Each one of these can be near useless on their own and very important when integrated toward a better whole. If there’s one number you could survive by concentrating on, it would be profit, however even that is restricted, considering that it does not think about the long-term value of your consumer if he continues to purchase from you.