Tag Archives: revenue

How To Use Product Reviews As An Effective Sales Strategy

When it comes to making buying decisions, people want to make a good choice, and for that, they turn to the internet to get the the information they need. As a customer yourself, you want to make an informed decision, so you look around. You do the research.

If you want to keep things affordable, for instance, there are numerous tools you can use to track prices. For example: Lifehacker’s Five Best Price Tracking Tools article shows the top 5 price tracking tools as voted by their readers.

But the most effective way of getting all the information you need to decide is through looking at product reviews.  For that, simply look at Amazon’s rating system as the best example out there.

 

Amazon prides itself on keeping their product ratings and reviews honest because their reviews system is incredibly important to selling products –and as the world’s biggest e-commerce company, Amazon’s continued survival is all about the sales. Good reviews — and a cutting-edge review system– is good for their business.

Customer’s can’t touch or examine products displayed online, and so, keeping the reviews honest helps protect the reliability and trustworthiness of Amazon’s brand And customer-supplied proof of product quality helps support all  the customers and the marketplace. It’s social proof and information-sharing. Continue reading How To Use Product Reviews As An Effective Sales Strategy

3 Pillars of Marketing Effectivity

Business depends on profits to survive and to thrive. Whether you sell products or services,  all the processes that keep money coming in must be given particular focus to keep the pipeline open and healthy.  Marketing sometimes gets shifted off to the side, but it is still an integral process.

Marketing is not just getting clicks or sign-ups. It has evolved to take a bigger presence at the decision-making table, and shouldn’t be relegated to a ‘follow-up activity after product development.’ You can’t afford to do that. Technology, competition and communication-wise,  there’s too much going on to leave things to chance. At the speed which commerce moves, important business processes like R and D,  marketing, and customer and public relations must be aligned and responsive, not reactive.

Marketing contributes to the bottom line too. It’s not just a money-pit.  To see that, you have to have the hard numbers, get the quantifiable data. You put money into marketing, you have know the returns you’re getting on that.

The proof  will lie in the solid results and analysis that comes from in-depth data-crunching and aggregation. Anything that gives you an edge over your competition, advances your position in your  market, and  helps you give your customers a better experience?  You better know about it.

 

What are the metrics that matter?
Don’t just glance at the surface metrics that garner surface attention. The number of ‘likes’, re-tweets, and followers can easily swell the ego, but ego means squat to the bottom line when you can’t measure the impact of these numbers on your revenue.   Get an objective assessment: You need to pin down where your marketing dollars are making the best contributions towards your profitability so you can make the best  decisions on where to spend more money, now and in the future. Continue reading 3 Pillars of Marketing Effectivity

Why You Need A Content Marketing Strategy

The presence of the internet broke down all the old rules, regulations and expectations when it came to controlling information, and now it’s a free-for-all when in comes to publishing, ie. the “production and delivery of content.”

No gate-keeper can stand against the transmission speed of the internet, and the sheer numbers of people who want to share their messages on it.

Of course, on-line you can still find the big publishing houses like HarperCollins, Simon & Schuster, and Random House. You got the film companies: Warner Bros., Paramount, and 20th Century Fox websites.

You’ve got production companies, music artists, and all sorts of creative minds sharing their labors and their work on-line.

You also have millions of smaller content-creators on blogs, channels, websites, and various other media-sharing hubs (for example, DeviantArt and ConceptArt.org).

What are the new rules to thriving in this world-wide network? How do you navigate the possibilities and get noticed in your field, market or niche?

If you want to be recognized at what you do, there are certain elements you should have.

  • You need content that gets attention and turns casual visitors and lurkers into customers, followers, fans and supporters.
  • You need to present your content in such as way that it helps you connect to your target audience, and keep you connected.

Yes, the most used words for this are optimization, leverage, and maximizing, and if they’ve put you off because they’ve been used so much, here’s a more relatable scenario: Continue reading Why You Need A Content Marketing Strategy

Measuring Web Metrics And ROI

09 August 2013 , by A. Cedilla

  • How would you know if you’re making money –or bleeding it– if you don’t record your sales and overhead?
  • How would you know if your new marketing campaign is making an impact unless you track the numbers before and after you institute the promotion?

It’s an accepted fact the the internet has changed the way we do business. What hasn’t changed is that it still takes money to make money. Even if you’re working out of a closet, you still need certain things, things which require money. And time. And labor.

And then there’s the matter of getting something (preferably money) in return for what you shell out, and knowing how much, exactly, did you gain for all your work.

So, to figure out your return on investment, you need to measure, record and analyze specific things to get a clear picture. For an online business’s standpoint, it isn’t just the sales but the branding, how well you are known and how well you are selling. This includes things like conversion rates for visitors, sales, sign-ups, etc. You have to know your numbers.

Why?

  • To watch over your site growth and know if you’re getting more page-views and higher quality traffic.
  • To monitor the effectiveness of your campaign performance — you can track what you measure, and change what’s not working while improving on the rest.
  • To find out what your customers are looking for in particular and then revamp your approach so you can give it to them, and-or bring more of it to their attention.
  • To drive your sales. (See above.)
  • To get enough data to improve your site design and internal navigation, thereby getting more people to stay and buy.

You can’t be accurate if you don’t measure things, you can’t take measures without data, and you can’t improve if you don’t know how much you need to change to improve, or what to improve in particular. Continue reading Measuring Web Metrics And ROI

Permission Marketing: When They Click ‘Yes’

14 July 2013, by A. Cedilla

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Odds are good that at least once in your life you joined someone’s mailing list when you signed up for a particular online service or wanted to find out more about a subject you find interesting. Many online forums, research institutes and some online newspapers need a valid email address to send your initial log-in details and passwords. A lot of sites nowadays also require some sort of log-in to comment. All these little exchanges of access for your email information falls under the banner of permission marketing.

Permission marketing is asking your target market and site visitors for their permission and getting them to agree to certain actions:

  • That you can include them in your mailing list to send them newsletters and other relevant bits of information and news.
  • That you can email them about updates, topic-relevant tips and promos, coupons, upcoming special events etc.

Basically, that you can send them information and invite them to do stuff. It’s as easy as setting up a Click here! link or an opt-in box for capturing your visitor’s email addresses. Continue reading Permission Marketing: When They Click ‘Yes’

Fast, Good, Cheap: On Making Your Cost-Benefit Analysis

Fast, Good, Cheap. You’ve heard of the entrepreneurial trifecta, right? There are also other, prettier variations of this sign, like the ones here (for web developers) and here (for freelancers). Wikipedia’s explanation of the project triangle also has a colorful diagram (but not as funny). When you make plans and draw up time-line for your projects, what factors do you consider in your risk mathematics?

  • When the emphasis is on COST, the aim may be to max it out where you feel that you have to get more than what you’re paying for, if you get what I’m saying. A bargain. A steal, as it were. If you’re serious about success and building a network, for example, and want to establish relationships you intend to be long-term, starting with a steal may not be the best thing.
  • If the emphasis in on SPEED, how is your time-line? Congested? Open? Tangled?
  • With an emphasis on QUALITY, you enter into craftsmanship, painstaking attention to detail, precision engineering, no fudging, no cutting corners…you want the expected results.

What are you looking at, priority-wise? You want to save money, so you draw up a budget. You want to get the most out of the money you have earmarked and spend on quality. You want to get it done on time. What you want to happen decides what needs to be done. And how it’s done is affected by your priorities. Continue reading Fast, Good, Cheap: On Making Your Cost-Benefit Analysis

How to Plan for Multiple Revenue Sources 2

Continuing from Part 1, you may also want to take a look on our four-part series about goals and planning :

The Four Quarters 1 – Personal Time Management
The Four Quarters 2 – Visions and Goals
The Four Quarters 3 – Breaking Down The Pieces
The Four Quarters 4 – 5 Ways of Putting Things Together

The greater burden in win this situation is psychological and emotional. You have responsibilities: keeping a roof over your head, feeding and clothing yourself and your family. Then you have obligations: loans and bills that need to be paid. The pressure from all sides can be overwhelming.

The counter-intuitive thing to do here, aside from collapsing into a frazzled heap, is to be, well, cold-blooded about it. Reason should lead over emotion. You want less stress over money, you want more money coming in, you need to be cool and calculating (literally) going about things.

Another recommendation at this point is the 2 part series, Building Buffers 1 and 2. Continue reading How to Plan for Multiple Revenue Sources 2

How to Plan for Multiple Revenue Sources 1

It’s hard to find anyone who doesn’t worry about money nowadays. Everyone’s feeling the pressure, and working twice as hard just to keep their heads above water. What can you do to ease off the stress and lose the incessant fear of losing what you have now?

You need to step back, calm down, and think of what solid actions you can take to improve your situation.

Okay, your financial situation may be more precarious or unstable than you want. You need to arrange it so it’s more steady, and you’re less stressed. What do you do to fulfill those needs?

First, you build more than one source of income. Only as many as you can honestly handle with your current responsibilities, as many as you can incorporate into your lifestyle, for as long as you can sustain them. Having only one source of income sets you up for some scary times, because without something to fall back on, what happens if you lose that one source?

To prepare,you need to detach from your familiar places. Sometimes people get stressed even at the very thought of the stuff they need to do at home: pay the bills, do the chores, drive the kids to soccer practice, etc. Don’t do this at work, it’ll just split your attention. Make the time, and find a place where you can sit and think uninterrupted. {more}

Eliminate the distractions of popular spots, “Ooh, free WiFi, and the coffee smells so good, guess it won’t hurt to get a cup…and one of those crullers, come to think of it. I’ll just check my email and then I’ll get to it.” Continue reading How to Plan for Multiple Revenue Sources 1