Learn how SMEs can use Porter’s 5 Forces to assess marketplace viability when planning
Right now, Porter's 5 Forces is the most useful tool for owners and managers to stay one step ahead of the competition in a challenging market. Earmarked as the best marketing model to help small businesses analyze the competition in the marketplace, balancing these 5 forces is a must for your 2020 marketing action plan.
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What are Porter’s 5 Forces?
Porter’s 5 Forces is an analytical model that helps marketers and business managers look at the ‘balance of power’ in a market between different organizations on a global…
Every step of international marketing needs to be considered carefully because your customers overseas have very different requirements
Proving a big success nationally can make business owners hungry to expand further and while approaching the international market is something many businesses have the capacity for, it is important to look at factors that influence the success of trying to "go global" too soon.
The strategies and practices that were a huge success at home may not suit customers in a different country or countries, and therefore it is vital that business owners are fully prepared and ready to tackle any differences head-on before launching on a global scale.
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Moving into new international markets has many…
What are the essential parts of a multichannel marketing plan template?
Multichannel marketing is the process of utilizing online and offline marketing communications channels to target and engage with your customers.
As outlined in our Quick Win – Create a Multi-Channel Marketing Plan, the purpose of a multichannel marketing plan is to define a strategy and plan the resources needed to achieve business sales targets. The timeframe is typically annual but potentially longer-term, such as 18 months to three years.
Examples of communications channels could include, for example:
The goal is to deliver leads and sales targets for defined products and services, which can apply to an organization as a whole, or a single market if there are multiple markets and product or service categories.
An effective multichannel marketing plan outlines the marketing communications techniques and channels required to enable…
How companies communicate with customers has always been important, and the introduction of new technologies only makes the process more complex
The pace of innovation continues to drive new options for reaching customers, and savvy business leaders know that to thrive in this market, they must be ready to adapt. How companies communicate with customers has always been important, and the introduction of new technologies only makes the process more complex.
For instance, a business can use live chat or chatbots to interact with customers on its website, customer portal, or app. It can also use chatbots to interact on social media messaging apps. And now, live chat and chatbots are available on platforms like WhatsApp Business, a business-focused leg of WhatsApp that launched in 2018.
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The promise of omnichannel was that people would connect to a brand digitally or physically and then feel continuity in each subsequent interaction. For the most part, omnichannel hasn’t delivered that
If you want to understand how omnichannel marketing fails, picture yourself in a funhouse surrounded by mirrors. In every direction, you see your reflection in distorted shapes and sizes. The mirrors change appearances, not who you are and what you believe. But if you spend too much time in front of the mirrors – social networks, blogs, or wherever you present your brand – you can become disoriented and so can your customers.
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The promise of omnichannel was…
Keeping track of every campaign and integrating their analytics is certainly not an easy task
Cross-channel marketing focuses on providing the customer with a consistent experience while interacting with your brand across multiple channels. It is a powerful way of designing your marketing strategy to create customer journeys involving various channels.
Implementing a cross-channel marketing strategy can be a little intimidating. You need to take care of multiple channels while designing your campaigns. Keeping track of every campaign and integrating their analytics is certainly not an easy task.
But before we dive into how you can create a successful cross-channel marketing strategy, let’s understand why it’s needed in the first place.
Why should you consider cross-channel marketing?
Cross-channel marketing improves the shopping experience of customers through personalization. It allows you to reach out to your customers across multiple channels to ensure that your brand remains in front of their eyes at all times.
Through cross-channel marketing,…
Effective communication and thoughtful design generates huge success for gaining new customers and improving retention rates
Have you ever wondered how brands grow as large and as well known as they do? From companies like Google to Starbucks, their names are known, and users know exactly what services and products they provide. Branding is how this happens, and it is no small feat. It takes time to cultivate a brand, to the point that a company has universal recognition like Gillette and Coca-Cola.
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What’s the importance of branding?
What’s the most important thing about branding? Some may argue having a campaign that aligns with the business’ ethics while others say how effectively that campaign communicates with the consumer. While both are generally right, most companies have greater success when they…
Insights, tips and advice on personal branding from Rita Clifton CBE
For many people within the marketing world, Rita Clifton is regarded as one of the definitive ‘brand gurus’. Her authority in the field of branding is impressive, with previous roles including Vice Chairman at Saatchi & Saatchi and London CEO and Chairman of global brand consultancy Interbrand.
However, whilst Ms Clifton’s expertise has been dedicated to building corporate brands, I was interested to hear her talk recently about how these brand-building skills can be applied to ourselves.
As digital marketers, it’s becoming increasingly important to identify and exploit a point of difference. While some of us may specialize in a particular area, others may take on a broader, more overarching role. Whatever field we work in, it’s essential for us to make it clear to others what…
Following the Gillette and Nike controversies, is it possible to showcase your brand's attitudes to societal and political issues without backlash?
Consumer mindset has evolved and we are now more conscious of the things that we are buying and the brands we are buying from than ever before.
With more than half of Britons thinking that brands have a responsibility to society, they can no longer simply rely on having a well-performing or cheap product offering to entice customers. Brands increasingly need to showcase their attitudes towards society in their marketing strategy, but is it easy to do without causing controversy and disrupting the status quo of your audience’s buying habits?
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Digital tactics can be a boon for bricks and mortar retailers
Within many multichannel retailers, digital teams work primarily to e-commerce KPIs – traffic, conversion, units per order, unit value and so on.
As a consequence, digital activity that might benefit the physical store estate is often deprioritized or completely ignored.
However, digital marketing presents some of the best opportunities to drive footfall and in-store sales.
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Here’s a checklist of 5 things you can do straight away:
1. Improve the store-related areas of your website
It’s likely that a large number of your visitors are already looking for store information on your website or app.
First, make sure that your store locator is up to scratch, especially for mobile users, and make sure…