Introducing Pricing

Welcome back everybody to Learning Blogging Marketing!

May peace find you all in these sorrowful moments. Please, receive my best wishes. Let’s get through this together.

In today’s post, I simply wish to announce a new series that will be posted on this blog, and that deals with the concept in Marketing with which I have worked the most. As you might deduct from the title, this series will deal with one of the infamous 4 Ps: Pricing.

Marketing and Finance

Besides being an important term for marketers, Pricing also involves financial issues. Indeed, prices are usually set by adding revenue margins to those costs considered as necessary to deliver a good or service (the so-called mark-ups).

Mark-Up Factors

Mark-ups depend on a number of factors, ranging from the cost of raw materials to the competition scheme. Inside the same industry, there might be different mark-up ranges depending on the brand image and perceived quality of the products.

Globalisation and Cost Competition

In a global world, cost competition is an issue to look at. In order to stay competitive, some companies tend to acquire raw materials from countries where the prices are cheaper. Some theorists believe that this situation is the unavoidable consequence of globalisation in the capitalist scheme. However, other economic agents accuse these supplier nations of allowing companies to over-exploit their workforce.

Tax Avoidance and Transfer Pricing

Besides, cross-country transactions might also be behind tax avoidance: companies from the same group might decide to allocate their costs in low-tax jurisdictions by selling products at non-competitive prices. This issue is currently tried to be overcome by the OECD through its transfer pricing guidelines.

These are the topics with which I intend to work at the moment. Nevertheless, it is not a closed list, and I might come up with new themes in the future.

I hope you are as excited for this new section as I am!

Digital Marketing (V) – Email Or Fail

Welcome back, everybody!

It’s time to keep our Digital Marketing series going. For this chapter, I will be focusing on Email Marketing. This concept, although sometimes overlooked, is key to retain existing digital customers.

When you plan to being an Email Marketing Campaign, as in any digital marketing strategy, you need to define your objectives. Then, you must create a database of customers that have previously shown interest in your business. This database shall let you segment your audience, so you should offer a subscription questionnaire at the sign-up.

Once your segments are well defined, you can start to create your emails. Although offering attractive promotions and discounts can be effective for your conversions, you shall know that email marketing can also be informative. For example, if you are running a pet shop, you could share via email some pet-caring tips which would prove relevant and useful to your audience.

Here are some tips for the creation of your email:

  • Unsuscribing Is A Right: At the end of your emails, you shall always include the option to unsuscribe. This is not only advisable for your image, but it also is legally compulsory in most countries.
  • Control Spam: In order to pass spam filters, when determining your email subject, avoid including words such as “free” or “promotion”, as well as any currency symbol. Most email tools today are harsh when detecting signs of a problematic unit.
  • Test Different Versions: One of the most effective strategies in email marketing is to create an A/B test, which consists on sending two different versions of an email in order to check which one proves the most effective. Go try it!

Once your email is sent, you will have to take advantage of analytic tools. Some of the most important metrics in email marketing are the click-through rate, the conversion rate and the bounce rate (which allows you to check if there are blocked or erroneous accounts among your audience). You should check them out!

Finally, you shall also know that there are some tools thought to help in the management of email marketing campaigns. Two that come to mind are MailChimp (probably the most popular in Spain) and Mailify (an interesting tool thought for smaller enterprises).

That was everything for today.

I hope you enjoyed today’s post! See you another week!

Digital Marketing (IV) – Social Media

Welcome back, everybody, and happy new year!

It is no secret that Social Media platforms represent an important tool for digital marketers in our era. With almost every human on Earth being present on these platforms on a daily basis, the opportunities for businesses are insane.

If you own a firm, you shall be present in Social Media, not only to gather new prospects, but also to have a practical communication channel for contacting with your current customers. However, Social Media Marketing requires of planification. That is, you must have defined your objectives, and then know what do you want to post and when will you do so. This way, you will not only commit to your objectives, but you will also create a responsible brand image among online customers.

Luckily for marketers and entrepreneurs, there are several social media platforms on the Net, thought to ease the management of Social Media campaigns. Just to name a few, some of the most notorious names are Hootsuite, Buffer or Everypost.

Social Media also gathers the capabilities present in most digital marketing strategies:

  • First of all, most Social Media platforms, like Twitter, Instagram or Facebook, allow marketers and entrepreneurs to create targeted ads, which shall only be shown to ideal prospects. Differently from SEM ads, these will also appear to prospects that are not actively searching for your product, but could be interested in it!
  • Besides, given that all actions on the Net are measurable, social media platforms also incorporate analytic tools, which are constantly renewed with new features. As we know, one of the main keys for digital marketing campaigns is the quantification of success through analytic tools, checking which strategies have been most profitable.

That was all for today. Thank you for reading this post!

Christmas: Marketing or Antropology?

Welcome back, everybody!

The time of the year in which families come together at once has finally arrived again. However, as you might have already noticed, this blog does not deal with antropology. Or well, it might deal with it temporarily if you decide to continue reading. In this post, I have decided to talk about Christmas consumer spending around the world. I hope you like it!

According to the data gathered from national statitic agencies by Jason Karaian (QUARTZ), the countries in which clothing and electronics’ sales increase the most in Christmas with respect to the rest of the year are Canada and the United States. On the other hand, Italy, France and Spain (all from Western Europe) lead the increase in the retail sales of food and drinks.

Although all categories of products shall see their sales increased for Christmas, antropology seems to actually play a major role; thus, for instance, Europeans seem to value family gatherings in Christmas in a different manner than North-American citizens do. However, these facts are not static and there are living cases of cross-border updates: the Black Friday, a young American tradition, is being taken in European economies, and promoted as a means to save on Christmas shopping. And, obviously, discounts in food are the least interesting.

As a marketer, you shall forecast which could be the impact of traditional and adopted culture traits in any seasonal offer. No one is interested in creating promotions and discounts that will not lead to an attractive ROI.

Another mistake you shall not commit is that of underestimating the challenge that supposes introducing a new tradition in a country. If you want to play safe, do not advertise your Spanish turrón brand on American mass media, because most of your audience will not understand what you are offering in your 20-second ad.

The concluding point of this post is simple: marketing and antropology ARE related. So, if you run a multinational entreprise, do not expect a homogeneous world policy to have the same impact in all countries for Christmas. On the same page, if you are a growing company selling seasonal products, you shall beware when expanding your horizon.

Will we see Christmas traditions and spending patterns homogenizing in the future? Given the current context of globalization, this shall not be a surprise in the medium-run. Until that time arrives, I will be enjoying my Spanish turrón.

Meanwhile, I wish you all a happy Christmas, my fellow readers! Thank you for being there!

Digital Marketing (III) – Do Not Sleep On Directories

Welcome back again, fellow marketers!

Today, in our Digital Marketing series, we will try to understand one of the most relevant tools to create web presence & reputation, aslo considered in the Internet Marketing Tree: Web Directories.

Although you might know about Google’s official web directory, Google My Business, the total number of these spaces on the Internet is huge. There are even specialized web directories in a specific sector or industry, so a marketer should always be aware!

At their core, web directories were thought to create an address, some contact information for a particular business. In fact, by being in a popular (or specificially relevant) web directory, you can increment your chances of catching new prospects.

Being in the official directory of a search engine corporation might allow you to appear in searches. Although having a space in a web directory is usually free, you might be asked to bid for relevant keywords to overcome your most direct competition. If you own a local business, you can restrict a huge investment by limiting the territory in which your space in the web directory will show in searches.

However, you shall know by now that the Internet is a transparent space. Most web directories allow Internet users to post reviews about the places they have visited. Due to the avaliabilty of information, the Internet user might be tempted to check the reputation of a company before trying to purchase anything from them, let it be products or services. So, make sure you always pay attention to customer satisfaction!

Digital Marketing (II) – Unveiling Search Engine Marketing (SEM)

Hello, fellow readers! Welcome back to Learning Blogging Marketing!

Today, we will be introducing a new concept on our Digital Marketing series inspired on the Internet Marketing Tree: Search Engine Optimisation, also known as SEM

SEM is a tool based on a pay-per click methodology. That is, advertisers will only pay according to the people that have clicked on their ad after shown on a search page. This is one of its main advantages over traditional marketing, in which the investment to be made is taken upfront, without knowing the future effectiveness of the campaign.

Unlike SEO, SEM allows companies to guarantee the first positions in a search, making it easier to capture the prospect’s attention. With the objective of increasing their leads, companies bid for different keywords that relate to the terms searched by prospects. There are different types of keywords depending on the objectives of the advertisers. Here are three of utmost importance:

  • Broad Match: used for generic searches, these keywords might be useful at any time in which a prospect demonstrates interest in a business of your type.
  • Phrase Match: on a more specific basis, companies can choose to show their ad only when a specific phrase search is made, including variations.
  • Exact Match: this one is very similar to the phrase match, although variations of the keywords, such as plurals of verbal forms, will not be considered on searches.

In case you discover that your ad is showing on searches that are not related to your offerings, you can even select “negative” keywords in most SEM analysis tools in order to stop appearing!

To decide whether to show your ad on a search or not, search engines elaborate a ranking based on a simple formula in order to choose only the best results:

Bid (maximum cost-per-click that the company is willing to pay for the keyword) x Relevance (in a scale of 1 to 10, how is the content of the ad related to the search introduced?)

Thus, a company offering the most bid for a keyword might not always be the one getting the spot on the search, if for any reason its content is not considered relevant.

There are different SEM tools avaliable depending on the search engine. Some of the most popular are Google Ads or Bing Ads. These softwares will allow you to create pay-per-click ads, to cathegorize them in campaigns or even to analyse the effectiveness of different keywords in your field of expertise. You should definitely give them a try!

 

Digital Marketing (I) – Unveiling Search Engine Optimisation (SEO)

Welcome back everybody!

Today, I officially open our own series dedicated to Digital Marketing, inspired by the Internet Marketing Tree that we saw on a previous post. Concretely, we will be dealing  with Search Engine Optimisation.

Search Engine Optimisation or “SEO” consists on the free efforts made by marketers to position their Internet websites on the top of the organic results of a search engine navigation page (these are right below the paid results, which we will see in our post on Search Engine Marketing or SEM).  The particularity behind organic results is that they do not require of any monetary investment. 

Although only the title of the website, its description and its keywords (all held in the metadata) are shown to prospects looking to fulfill a specific need on search engines, there are other factors that are considered by search engines in order to determine the relevancy of your website when “ranking” different search results. For example, search engine algorithms will prioritize sites with rich and relevant content. Besides, the repetition of strategic words to duplicate effectiveness might also be punished in some search engines.

Another thing to consider is that SEO might be also practiced through an off-page approach, for example by introducing backlinks in other pages or by sharing posts in Social Media. When making a ranking on the content relevance of your pages, search engine algorithms might use this information to validate if your information has been useful for other users.

SEO is something to be considered by any business trying to get some digital presence. Luckily for us, there are several online tools, linked to the different search engines, that can help us to manage our SEO in the website and provide data on the effectiveness of our campaigns.

One of the most useful tools that you might find is Google Search Console, the official SEO tool of Google . With this application, you will be able to check practically anything related to SEO. However, my favourite applications are those:

  • Checking if the different pages of your website have been properly indexed by Google to appear on searches, and asking Google to do so if the response is negative (this one is really useful if you still have not been able to generate a lot of content, since crawlers can behave slowly sometimes).
  • Checking which are the words that potential customers insert into their navigators to find your webpage.
  • Checking the proportion of clicks that your webpage receives in comparison to the total number of times you appeared on searches. This is precisely useful to determine if your keywords are attracting to prospects that are actually interested in a business like yours.

Google Search Console has lots of different uses: it might also be useful to check if your website is not showing correctly to some users, or even if it is not adapting correctly to mobile devices. Of course, other of its uses is to check the number of visits that your website has received through external referrals.

Do you know of any other related SEO topic that you would like to comment? Don’t be shy to open the discussion!

 

 

Introducing The Internet Marketing Tree

(retrieved from http://www.mainlinemedia.com/blog/2015/12/the-internet-marketing-tree-update/) (this is a 2.1 version since the first one was made back in 2009)

Welcome everybody! I am excited to share my first own marketing post with you!

While I was surfing the Net, looking for new insights to share with you, I stumbled upon a curious infographic known as “The Internet Marketing Tree”.

As we can see in the painting, there are four clear roots that drive business value in every marketing activity: those are Research, Strategy, Branding and Content. Several concepts and procedures need to be defined on each of these roots.

Moving upwards, we find the term Website in the core of the trunk, being Development & Design its main drivers. To build presence on the Internet, firms shall be in possession of a correctly-developed, well-designed webpage or Internet space. Otherwise, their perceived company or brand image could be in danger.

Finally, on the branches at the top of the tree, we can find the different subcategories of Internet Marketing:

  • Search Engine Marketing
  • Directories and Listings
  • Email Marketing
  • Social Media Marketing
  • Public Relations
  • Online Advertising
  • Traditional Marketing Applications

I cannot wait to investigate deeper on each of these categories for my future posts! I am currently taking the Google Digital Garage course: “Fundamentals of Digital Marketing”, in which I have already studied broadly Search Engine Optimization and Search Engine Marketing. Indeed, I am intending to use Google Search Console in order to run this blog. Thus, I think I will start from there! See you on the next chapter!

 

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