Marketing
Guide to a Profitable Marketing Mix
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used in connection with marketing
planning.
Marketing Mix means the combination of
promotions, products, places (distribution
channels), and prices you chose for your
business. Including both short term and long
term strategies in the marketing mix can make
for a more profitable business.
Long Term Strategies
Branding.
General advertisements and other high profile activities contribute to your company's image. These points of contact with your target customer help mold your image, which in turn can create loyalty from your customers.
Philanthropy.
Donating money, services, and/or time can build trust and a positive image for your business. Philanthropy contributes both toward your branding efforts and your company's internal well being.
New Product Pipeline.
New products in development represent your future sales. If you get feedback from your customers or
potential target market then design new products (or change existing ones) to meet their needs, you are ensuring a demand for your products in the future.
Reduced Price Sales .
Limited time sales encourage customers to act. You likely have customers intending to buy but have not "gotten around to it". Holding a sale will give them incentive to purchase.
Group Discounts and Offers.
Discounts or other offers to a specific group can help exposure your business to new customers, resulting in a sales surge.
Pay per click search engines are another way to become visible to new customers. Use them carefully, however. Do not bid more per click than the profit you expect to make from that click.
High search engine placement can produce both short term and long term results. Short term, you can gain immediate sales. Long term, results come as potential business partners find your site.
Do not, however, become obsessed with search engine optimization to the detriment of your other marketing strategies. Search engine marketing should be one part of a more comprehensive plan. Include other marketing strategies in your plan to reach additional customers.
Another approach to search engine optimization is to hire an outside expert to work on search engine marketing while you focus internally on other parts of the marketing mix. If you take this route, however, be alert for agencies that use tricks that go against search engine guidelines to increase your rankings. These approaches may get you results in the short term, but could get your site reduced in rankings or banned in the long term.
Bobette Kyle draws upon 10+ years of Marketing/Executive experience, Marketing MBA, and online marketing research in her writing. Bobette is proprietor of the Web Site Marketing Plan Network, http://www.WebSiteMarketingPlan.com
