Listen!! Digital marketing takes time


During coffee with a client a few months back, we were talking about content, its importance, and the fact that you simply can’t game the system (by system I mean Google).

We were also lamenting the fact that honest and effective SEO companies are not always the ones that “win the bid.” The client will not always want to hear what these SEO providers have to say. Instead what they want to hear is “we will get you 100s of leads overnight for next to nothing.”

Sure, we all like to dream. We all like to get the best deal. But, remember, you get what you pay for. I’m not just talking about money here. I’m also talking about time. Because, time is money.

An SEO you should trust is the one that tells you that this stuff takes time. Because it does. If you look back over all of the algorithm updates from Google in 2013, there is one constant… a better user experience.

Everything Google does is geared towards delivering the best search results to its users. Think about that. What is a good search result in your industry? What are your clients looking for?

I’ve gotten into debates in the past with less than stellar SEO companies about their efforts to game the system. For example, one company wanted to create a series of pages for every location the client served… each having the same content! I warned them that Google was warning against this. Their answer… “well, it works great right now.” I think you can see where this is headed.

SEO isn’t a bad practice and it certainly isn’t dying. But, SEO needs to be part of a larger strategy.

Content marketing, “a marketingtechnique of creating and distributing valuable, relevant and consistent contentto attract and acquire a clearly defined audience – with the objective of driving profitable customer action,” is another piece of this strategy.

It’s a long game. What does this mean? It means that marketing with content (goodutility content) will not convert right away. You can’t expect to write a blog post, like this one, and get a sale from it tomorrow. You might, and it doesn’t hurt to ask, but it isn’t the point.

The point of content marketing is build trust in your brand. You’re working to become THE resource in your industry. The go-to. To do this, you need to consistently provide value, answer questions, and solve problems… expecting nothing in return.

This might seem crazy to some. But, think about it this way. You could “sell, sell, sell” right out of the gates and maybe get a few leads. But, how many people have you turned off in the process? And how many people will refer you to their contacts based on this approach? Not many. Why would they? You haven’t given them anything. And that’s the way it works today.

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Your Website: Your first impression


As they say, first impression is usually the last impression

IS IT TIME TO TAKE A CLOSER LOOK AT YOUR WEBSITE?

To make a successful sale, the purchaser needs to understand some key factors about your business, product or service and the person they are buying from. In order for this person to be happy with their purchase and understand the value of it, they will want to know the following:

About You and Your Company:Who is this person or company?What does this person or company stand for?What do they believe in?What is their story, purpose or brand messaging?

About Your Product or Service:What are the benefits of their product or service?Why should I buy this? Why do I need it?Not only the product specs but also the reasons behind how this will benefit me.

What Makes You or Your Company Credible?What accreditation or awards does the person or company have?What kind of clients have they worked with and what are their opinions? (Testimonials)What is the warranty or guarantee that is included?

Now, is this information easily found on your website? How does one find this on your website? Make sure you have an “About” page that outlines you, your company and your values. The big goal here is to develop trust with your visitors. People buy from you if they like and trust you.

ANALYZE YOUR PRODUCT OR SERVICE

Ask yourself the following questions when you are navigating through your website. It will help you upgrade your content and potentially even revamp the pages or layout to increase sales and conversions.

What is your top-selling product or service?Where is it on the website?Is there enough information about your product to make someone want to buy it?How do they get to the “Buy” page or “Inquiry” page?Is there a call-to-action telling them how to purchase or where to inquire? Example: Call now or fill out this form to receive a free consultation.

Make sure you have a clear path to find out why they should buy your product and enough information to be convinced to buy. Guide your visitor through the sales process. Make it nice and simple for them.

USABILITY AND NAVIGATION FOR YOUR WEBSITE

Now that you know the content and messaging of what you should include, how do visitors get from one page to another?

When website visitors get to the bottom of each of your pages, think through how they get to the next content you want them to look at.

It’s proven that once a website visitor gets to the bottom of a website, they are either going to close the window or click on another link to stay on your website. This could be solved by adding a submenu to the bottom of each page or you could add a call-to-action line at the bottom of the page that includes a link to the next page you want them to visit. Example: If the visitor clicked through to the “About” page, maybe you want them to view your “Services” page next.

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Charging different prices for the same product


You are in an airport and walk to the magazine store. You want to pick up a copy ofTIME for your in-flight reading. The store clerk waves you hi and then bills $4.99 for a copy. This makes you scream, “the annual subscription costs just $9.99″!

Why are you charged so much at the airport for the same product that costs less than 1/20 when sent to your home? Price Discrimination.

Price discrimination is fundamentally about how companies charge differently based on the urgency & income levels of the buyer. In this post, I will cover the different ways companies engage in price discrimination and at the end cover the major issues that are happening right now.

Every consumer is different when it comes to valuing things. An executive at a Fortune 500 company might be able to afford more and extract value better from a business magazine than a student at a community college. 

There are a few factors that might affect the way we value things:
Urgency. If I’m running for an interview, I might be able to afford a lot more for the coffee than when I’m at leisure at home.
Income levels. This one is obvious. The rich can afford more than the poor.
Priorities. A really avid Coffee drinker can place more value on a cup of artisan coffee than me. A music aficionado would prefer the front row seats at a concert while I might not care as much.
Demographics. A kid might afford to pay a lot less for his haircut than an office worker. 
If I price the magazine at $5 for everyone, the executives would still buy, but very few others could. Thus, I would have a very low volume. If I price at $0.50 for everyone, now more people could afford. But, I’m leaving money on the table (the executive who could afford $5 is now paying just $0.50). 

How about me charging $5 to the executive and $0.50 to the student? That would give me the volume of the student purchases while at the same time high margins from the executives. Smart, right?

Ideally, a company would know the affordability of each person and charge each person a unique value. However, there is a real problem. At the time of sales, I would know who can afford more and who couldn’t. Moreover, pricing each individual different can be both controversial and mind blowing. 

Thus, companies arrive at various approximations in doing price discrimination. 

Weekly discounts at Supermarkets

I used to frequent a supermarket that offered discounts every Wednesday. That is smart. A person shopping on a Wednesday is less likely to be a premium shopper who has a busy job. Thus, the store could make volume from the discount seekers who wouldn’t mind coming in the middle of the week (pushing around the crowds) and the profit margins from the higher income earning households who come to shop on the weekends.

 The same dynamics works for coupons. The shopper who cuts coupons might neither have urgency nor place a high value on that particular item. 

Supermarkets also do smaller tactics. They tend to keep the higher priced items on the eye level and value packs less accessible. Again, an urgent or a rich shopper might pick the first one at hand and run to counter, while a cheap shopper might spend all the time in taking the item from the bottom shelf. 

Books & Magazine Pricing

Magazines are priced a lot higher at airports because a person buying such a magazine is more likely to be a busy executive. On the other hand, a homemaker who has no urgency & less income level could have the magazine sent to his/her home on a highly discounted monthly subscription.

Also, books and magazines tend to be priced way higher in richer countries than in poor countries. For the same reason. 
Price discrimination is all around us. At thecinemas, there are discounts to seniors & students. Again, the price of weekday afternoon shows could be less than the Saturday night shows. The first class ticket on an airline priced significantly more than the extra space costs to the airline (the buyer is most likely to be rich or someone whose ticket is bought by his company). Hotels & car rental companies have different pricing for weekdays and weekends. 

Concerts price their seats at the front a lot more than those at the back (the really interested & really wealthy will pay for front row seats, while the normal consumers will not mind sitting at the back). Laundriescharge high for those customers who want their clothes back really quick. 

Internet based Price Discrimination

Until the arrival of the Internet, companies had to do price discrimination in very indirect ways like above. It was hard to know the exact value you could afford and it was hard to charge a lot of different prices. 

However, with cookies, retailers have started price discrimination based on your past purchases. If your airline knows you are really desperate for your ticket (maybe you posted on Facebook that you have a family emergency or your browsing behavior that highly correlate with a desperate shopper), they can charge you double.

Amazon is often accused of charging different prices to consumers based on their past purchases. Look at the following side by side comparison of the same product charged to different customers. 

Issues

Price discrimination has always been around. Most buyers are already used to it (even if they don’t realize it fully). In enterprise markets, discrimination is rampant but all parties know & expect that.  However, its practice has always been more controversial in the consumer world than in the business world. If you are not subtle, there can be bad consequences. With the amount of data we are providing on the social media, there is a real risk that all companies would know exactly how much we can pay for a particular product and sneakily charge based on that. In a negotiation, when party X knows everything about the party Y, the party Y is at a significant disadvantage.
Now, you know why social media companies are valued so much. Once the companies know about your urgency levels, income and personal preferences, they can sell the data to those companies that can then do discrimination based on that. Consumers will be paying a lot more for their products this way. 

As the old saying goes, “if you are not paying, you are not the customer. You are the product”.

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Pricing


Pricing is a complex topic. At business school, we have whole classes dedicated for this. Here is a synopsis.

Cost based pricing: This is the traditional method. You determine all the costs and create a profit markup on top of it. If the pizza raw materials and labor cost $8 and you want to set a profit markup of 25%, you will set the price at $10.Competitive pricing: It is quite likely that you are not the first in the market. So, you look at the prices set by other Pizza shops. If there are no pizza shops, then look at the price set by other shops selling food. If people expect to pay $10 for their lunch, maybe $10 could be an intelligent guess. If you are first to the market, you generally have much more freedom. 
Value based pricing: You look at the value added to your customer. If you setup your shop in a cinema and target the moviegoers you are expecting people to pay for the additional convenience. You can look at the total amount of time and money you are saving for your customer. This is especially important in a Business to Business setting. IF I’m selling something to another business, I will compile all the time and money they would save by buying my product and will price maybe 70% of it. If I save each employee of your organization $2000/year, I might charge you $1500 for my solution.Market research: You ask your customers what price they might be willing to pay. A bunch of interviews and surveys, might help you arrive at a range. You need a good questioner to pull the price preferences from a customer.
Experimentation: I will change the prices multiple times (in the name of offers, promotions, etc) and I will take a note of the demand at each price level. If I could make more profits by selling at $9 instead of $10, I would sell at $9. Amazon is a big follower of this method. 

image

In the curve above, the y-axis is price and x-axis the total amount you could sell. as you reduce price, your volume increases. Revenue = Price * Volume and the curve resemble a parabola. Once you plot this curve with enough points, you can find the theoretical maximum revenue.

(From an answer on Quora).

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Best method of Marketing 3


Apple’s Pricing Decoys

Look at the following pricing options for iPod touch. Which one of these is more attractive?

For just $70 more than the first option, you can double the storage, have a rear-facing camera, the touch loop (made to look like a big feature) and a much more option of colors. On the other hand, for $100 more than the 32 GB model, you can just double the storage with no additional features. 

An interested buyer might conclude that the 32 GB is the best value for money. Few would buy the 16 GB model and even fewer would buy the 64 GB model. The 16 GB and 64 GB act as the “decoy” to make the 32 GB appear a steal. In effect, Apple sells you an overpriced gadget while still making you feel that you got a bargain.

Pricing decoys in all pricing tables

This principle is used in almost all pricing tables in the technology world. There will almost always be 3-4 different pricing options, with one option looking so much attractive compared to the others. The other options act as “decoys” (meaning very few people would actually choose them) to make the main option look very “economical”.

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Best method of Marketing 2


A story of tomatoes

3 shopkeepers were selling tomatoes in a bazaar for $1/kg. They were pretty unsuccessful until they decided to collaborate one day. According to their pact, the first one at the start of the bazaar would sell the tomatoes at $1.25/kg, the second one a little further will sell at $1.5/kg and the third one further down would sell at $1.75/kg.  

Any customer who sees the all the 3, would conclude that the first shopkeeper is being really honest & cheap. Everyone would buy from him as they fear that the price is really increasing. Behind the scenes, the first shopkeeper would keep refilling from the basket of the other 2 and then he would then share all the profits with the other 2. Best deal for all the 3, while the customer is still happy that she got cheap tomatoes. 

This is a story that is often repeated in many things you buy.

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The best method of Marketing


Let me share a simple story n see if we can get the point:
Two beggars were sitting side by side on a street in Rome, ItalyOne had a
Cross in front of him; the other one was holding the Star of David. Many
people went by, looked at both beggars, but only put money into the hat of the
beggar sitting behind the Cross.

After some time the Pope came by. He stopped to watch the throngs of people giving money to the beggar who was holding the Cross while none gave to the beggar holding the Star of David. 
Finally, the Pope approached the beggar with the Star of
David and said, “My poor fellow, don’t you understand? This is a Catholic
country; this city is the Seat of Catholicism. People aren’t going to give
you money if you sit there with a Star of David in front of you, especially
when you’re sitting beside a beggar who is holding a Cross. In fact, they
would probably give more money to him just out of spite.”
The beggar with the Star of David listened to the Pope, smiled, and turned
to the beggar with the Cross and said, “Brother, look who’s trying to teach
the Goldstein brothers about marketing!

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Qualities of Successful people


What do you need to find and develop within yourself to be successful? The answer comes from looking at those who have created success in a variety of fields. These traits may sound simple, but they lead to remarkable results.

If you really want to bring success into your life, you should cultivate yourself just as you’d cultivate a garden for the best yield.

The attributes here are shared by successful people everywhere, but they didn’t happen by accident or luck. They originate in habits, built a day at a time.

Remember: If you live your life as most people do, you will get what most people get. If you settle, you will get a settled life. If you give yourself your best, every day, your best will give back to you.

Here are the traits that the highly successful cultivate. How many do you have?

1. Drive

You have the determination to work harder than most and make sure things get done. You pride yourself on seeing things getting completed and you can take charge when necessary. You drive yourself with purpose and align yourself with excellence.

2. Self-reliance

You can shoulder responsibilities and be accountable. You make hard decisions and stand by them. To think for yourself is to know yourself.

3. Willpower

You have the strength to see things through–rather than vacillate or procrastinate. When you want it, you make it happen. The world’s greatest achievers are those who have stayed focused on their goals and been consistent in their efforts.

4. Patience

You are willing to be patient, and you understand that, in everything, there are failures and frustrations. To take them personally would be a detriment.

5. Integrity

This should not have to be said, but it’s seriously one of the most important attributes you can cultivate. Honesty is the best policy for everything you do; integrity creates character and defines who you are.

6. Passion

If you want to succeed, if you want to live, it’s not politeness but rather passion that will get you there. Life is 10 percent what you experience and 90 percent how you respond to it.

7. Connection

You can relate with others, which in turns makes everything reach further and deepen in importance.

8. Optimism

You know there is much to achieve and much good in this world, and you know what’s worth fighting for. Optimism is a strategy for making a better future–unless you believe that the future can be better, you’re unlikely to step up and take responsibility for making it so.

9. Self-confidence

You trust yourself. It’s as simple as that. And when you have that unshakeable trust in yourself, you’re already one step closer to succeeding.

10. Communication

You work to communicate and pay attention to the communicators around you. Most important, you hear what isn’t being said. When communication is present, trust and respect follow.

No one plans on being mediocre; mediocrity happens when you don’t plan. If you want to succeed, learn the traits that will make you successful and plan on living them out every day.

Be humble and great. Courageous and determined. Faithful and fearless. That is who you are, and who you have always been.

Original article at http://www.inc.com/lolly-daskal/the-10-most-important-attributes-of-highly-successful-people.html

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Why the hell do you need Online Marketing?


Nearly 70% of adults in the world have daily access to internet today and an estimated 73% of them use social media regularly. Facebook has over 800 million active users as of 2014, roughly 60% of whom are between the ages 13 and 25. Over 30% of users aged 18-30 use Twitter as their primary social network. More than 47% of the 250 million-odd Instagram users, check their Instagram feed daily.

You cannot ignore these figures. This is meaty business prospect you are losing out on if you are not leveraging it; because your rivals are and your customers are willing to hop loyalties. The top 5 brands on Instagram have shown a swift growth in positive user word-of-mouth over the last 12-15 months.

Marketing through the web is not an option anymore, as can be derived from the above statistics. It is almost a compulsion and as a business you better start cashing on it as soon as possible. Here are 5 reasons why need to hire a web marketing agency to build your business online:

A Useful Resource

No matter how small a business you are, doing your web marketing yourself isn’t always a great idea. Web marketers understand the domain better than anyone. Sooner or later, you are likely to lose focus on your web marketing efforts as other business priorities take over. Hence, leave it to the pros. It will cost you some bucks upfront, but by now you should realize that this investment is totally worth it. A good agency will not just deliver ROI, but also a strong and special online image and a vibrant community of regular users. It is your money for their time and efforts. A win-win situation for you.

Search Rankings

A web agency has the experience and know-how about web design and marketing practices that can help you with organic search rankings. Staying on top of search engine rankings is a tricky bait. Even if you manage it once by yourself, can you sustain it? Search engine algorithms change every quarter. New techniques dribble in and out. A web marketing agency can assure you the savoir faire related with SEO without you having to bother to read up the internet about these upgrades.

More Money

Of course, a web marketing agency’s job is to align your strategy with your business interests. But with a web marketing agencies expertise and experience, the return on investment on such strategies is way too high as compared to doing it yourself.

Brand Awareness

Being in the business for as long as they’ve been, web marketing agencies can assure you a strong brand image online. They know the web audience better than anyone. Agencies know what kind of content works and what doesn’t work in the digital space. They have the right contacts and the right tools to pull it off.

A web marketing strategy is inevitable. Hire a professional web marketing agency for profitable results. If you pick the right agency who you can trust with your brand, and who have an established history of successful digital campaigns, you can actually lay back, put your feet back, and see the conversion ring in!

Regards,
Pratik Deo
+91-9958760109

Read the article at http://pulse.me/s/ 2kKUcl

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