Logistics Service Providers keeps Supply Chain Moving
Procurement Logistics, Manufacturing Logistics and Finished Goods Logistics functions are managed by different independent departments in a company. Though the duties of the departments involve common activities like transportation etc., however, the processes and nature of logistics functions are specific to each function besides the requirements and sensitivities of delivery times, schedules, etc. With the […]
Westley and MacLeans Model of Communication
Yet another achievement in the discipline of communication was the Westley and MacLean’s model of communication proposed in the year 1957 by Bruce Westley and Malcolm S. MacLean Jr. Let us try to understand this model with the help of below examples: At night, when suddenly an individual experiences the shaking and trembling of the […]
Advantages of Using Value at Risk (VaR) Model
Value at Risk (VaR) is the most prominently used methodology when it comes to gauging and mitigating the market risk. Over the years, this methodology has been extensively used by financial as well as non-financial organizations. It has also been extensively used and recommended by academicians and researchers. The immense popularity of the value at […]
Why is MLM an Opportunity for Anyone and Everyone ?
Whether in an office environment, Corporate setup, at home, amidst friends, clubs or wherever you go, it is quite likely that you will discover the existence of a Network that is engaged in Multi Level Marketing. You are likely to receive calls from friends forgotten long ago who will re awaken the relationship and try […]
Factors Affecting Selection of Sponsorship of Sports Event
In the previous few articles, we have already studied the pros and cons of sponsorship. However, we have come to the conclusion that the pros of sponsorship far outweigh the cons. This is the reason that corporate entities across the world are spending large sums of money in order to be associated with large sporting […]
Setting up a web page and promoting online business has become a necessity for all business organisations, irrespective of the size of the organisation and the business. Every minute, several thousands of people from all over the world are accessing the internet and searching for products and information. A few hundred of them could be looking for the product or service that you are marketing. This means you have got to be available and also be the first to reach out to such customers. If your competition has already set shop on the internet, do you have a choice but to follow suit?. Therefore the need for an E marketing strategy and business plan is easily accepted and embraced by the managements of all Business Organisations.
As you begin the process of working out the details of how, what, when and why of Online marketing, you will need to come up with the communication and promotional plan as well as the budget too.
It is important to build an online marketing expense budget. This alone would not suffice when you submit the same to the management for approval. You will need to answer quite a few questions posed by management and the big bosses.
To be able to answer the questions, you will need to work out a detailed plan of how to measure the performance, benchmark the performance of the website etc. Management function also involves having to gather, analyse and assimilate data to facilitate right decision making and achieving the business objectives.
The SEO company that you engage to build, host and manage your website will be able to offer you a list of reports with the frequency as desired by you.
Number of reports such as ranking report, indexing, traffic report and many of other related reports can be made easily available. But these technical reports can hardly add value until and unless you have worked on the requirement of data as needed by the various business groups of your organisation.
Through the reports you will be able to understand your customer behaviour, expectations and get to know your customer better. You can get to know about your customer’s requirement in specific which can be of great value to your product division which will be able to customise the product to suit the market needs.
Sales department gets to benefit from knowing when, how and what the customer is going to buy and thus find ways and means to convert the prospect to a sale. Customer relationship management department will find the data very useful for it helps to manage the customer expectation, build relationship as well as loyalty.
Marketing communication department would want to know the effectiveness of the online communication, as well as details of viewership etc.
Further strategies of integrating TV and print media and conducting promotional sales campaigns as well as new product launches etc can be planned based using the data reports.
Finally, when the management decides to invest into the E marketing plan, it is important to identify and state the business goals, list the achievable targets and metrics to assess performance. Such clarity helps in building and implementing the online marketing strategy.
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