Marketing strategy 2

what to do if the profit margin is increasing over time:

Analyse what part of the marketing is bringing the most traffic, conversion and sales and keep track of it. Analyse whether it is long term factor or a short-term factor. If it is a long-term factor focus on the what other factor will affect it in the long run

examples:

⦁ increase in marketing cost meaning less people will be targeted thus less people will be likely to convert to buyers

⦁ competition like others copying your marketing tools

⦁ change in client interest also linked to competition as others might offer a product the client will be more interested in due to price, quality, availability and popularity

solution:

⦁ for an increase in cost been what might affect the long term benefit of your marketing you should minimize as low as possible the amount of channel you are using for marketing tool this will mean using one channel for several marketing too and example will be that if you are using video ads on YouTube display ads on google and PPC ads on Facebook then the cost of your advert increases then you should consider doing display, PPC and video ads only on YouTube for example this will help you maintain the benefit of your marketing using the same tool and targeting clients.

⦁ for other firms using your marketing strategy you should make sure that the content that are in your marketing is only applicable to what you offer as a product or service

⦁ for the client viewing a competitor's product better you must make sure that before you market a product you should always verify if it has competitive pricing, competitive quality meaning the price and

quality is better than the average same types of product been sold and always remember to announce this in your marketing content.

⦁ for the availability you should make sure that the product is only advertise to those how really what the product and need it this will only be a specific limited amount of people so you will not have to make or distribute los of that product you sell saving both cost and time but you only have to have a set of that product that is the same to the amount of people that will want it so it is always available

how to do that:

first you need to have history data to see how much purchase you have for a set of time for example if you are selling product this could be how much of that product you are selling a day, week, month or even year

example:

you sell 5 water bottle a day in order to make sure that the product is always there when the client need it is by viewing how much sale you have made since the first day you have been selling the product and only focus on the increase in sale.

1. so let's say each day you had an increase of two water bottle that means that each day your client base increase by 40% so to make sure that you have a good availability you should increase your supply each day by forty percent

2. if you have a decrease of forty percent each day and it cost you money each time you are needed to supply a new bottle then you should cut your supply by fourth percent

this will ensure that the supply of your product is always perfectly matching your demand

(this method applies to any product and any period whether it is daily, weekly, monthly or yearly)

in order to maintain this, you should always keep track of your sale you are making for any fixed amount of time you have chosen. and see if there is an increase or decrease in sale during that amount of time so that you know if you have to increase the supply or save money by decreasing the supply and then using that saved money to fix any issues that have cause the demand or sale to decrease. like quality of the product or marketing failing and why etc.

(It is always better to look and sales pattern in the long term rather than in the short term)

⦁ for the popularity of the product you must maximize the amount of client that are interested in the product or service that you sell. it is a good thing because it grows the conversion rate (that is the what percentage of the people that saw the product click on the product are likely to buy)

how to do that:

1. use all the channel that exist to market your product always have more than one channel or platform online to market your product

2. use lots of different key word to target client

example

you are selling a bag. when marketing the bag, you will use lots of keyword on for it like:

if it is gender selected meaning only targeting a specific gender ad what gender it is

what color it is

what type of bag is it (a handbag, travel bag or bag back)?

if it is cheaper than the average type of bag

on each channel or platform that you promote use a different keyword

reason

the client might be looking for a chip purple women's bag

they have Facebook account, a Pinterest account and a google account

⦁ when advertising it on Facebook you advertise that it is a women bag

⦁ when advertising on Pinterest you advertise that it is a purple bag

⦁ when advertising on google you advertise that it a very cheap bag

⦁ when the client will enter thier Facebook account they will see your ad of a women bag that they are interested in

⦁ when they will enter thier Pinterest account hey will see your ad of a purple bag that they are also interested in

⦁ when they will go on google, they will see your ad of a cheap bag that they are looking for

by this point the user is more likely to purchase as everywhere they go online, they will see the product as something they are looking for

this technique make it seem as if you are selling multiple products online by selling one product as it makes one product appear on different appealing ways to potential clients and each appealing way is interesting to them