Questions

What are the fundamentals of a marketing strategy for an online business?

4answers

Good question.

However, I think the better question should be; what system and thought process do I need to have for my Company

Because. Marketing is just one small factor of your enterprise. Each and every single part of your business needs to be working on all cylinders.

Below is a System we use to scale.

I call it...

4 Heuristic Chain of Command"

#1 High Level Thought Process

The Dynamics Between The Founders
Creating The Vision For The Company "Painted Picture"
The Management and Creation of Your Dream Team (Do you have the right people?)

#2 Strategy

Creating Fundamental Blueprints For Success (USP, Brand Message, Attractive Character, Product Fit)
Find And Establish Key Relationships And Networks (Who, What, Where and How?)
Building a Backend sales system. (80/20 Rule of Business) 80% Profits in Backend: Increase Profits

#3 Tactics

Leverage technology to enable better buying for customers and faster selling (Online Marketing)
Leverage Weekly KPI Performance Checks (What doesn't get measurend does not get improved)
Leverage Top Platforms For Exponential Growth (Double Down)

#4 Execution

Day-to-Day optimization of Sales Channels (Paid Traffic, Content Marketing, PR, Direct Sales, Phone sales)
Advanced analytics, social strategies and conversion optimization,for your business.(Dynamic, behavioral funnels)
Analyse and research, measure metrics, perform technical audits and get competitive intelligence. (Email Marketing)

I know this is probably not the answering you are looking for, but I hope you can keep an open mind

Adios

Ameer


Answered 6 years ago

I've written hundreds of thousands of words on this topic on my blog: www.shaunnestor.com

The highlights are:
1. Know your goals and objectives
2. How how you will measure your performance to those
3. Understand your audience and their needs
4. Articulate how you will meet the needs of that audience on the platform of their choosing
5. Design the content (graphics, text, etc) to roll out
6. Measure, measure, measure
7. Adapt and adjust

There is no one-size-fits-all marketing tactic. Just like building a house requires different materials and tools, but the basics are the same.

So is a social media marketing strategy. The foundational elements (which I outlined above) are the same regardless of industry, product, customer, or price point.

The biggest mistake brands make when creating a marketing strategy is thinking about it from *their* perspective rather than identifying the problem of their customer and relentlessly focus on solving it.

I'd love to help more. Book a call and we can get into the specific tactics you will need.

I've helped hundreds of brands around the world create successful social media marketing strategies.

All the best,
-Shaun


Answered 6 years ago

The fundamentals are to not mistake online for being any different than offline, and to know your numbers!

Online is simply another medium or group of media, just like television, direct mail, and leaflets dropped from airplanes. Always keep this mind. The moment that you start thinking online is somehow special or different or easier, you've started down the path of error.

Now to numbers. In a car or truck, you only have two systems and therefore two potential problem sources to track: electrical and mechanical. It's not going to be anything else.

In an online business (and remember, it's the same as offline), you only have two systems: traffic and conversion.

That's all it's going to be. How do you get people TO where you want them to go...your web page, your sales letter, your VSL, your squeeze page...and how do you get them to DO what you want...buy, opt-in, complete the survey, etc.

Get your measures in place to track the performance these systems. Learn how to quickly diagnose which side the problem is on so you can optimize. If you want a rapid education in how to do so, book a call with me.


Answered 6 years ago

Fundamentals of a marketing strategy for an online business are as follows:
1. Understand Your Target Market: To be successful, you need to focus on your target market by identifying their unique attributes. Many businesses create a customer avatar or persona to dig deep into both their demographic and psychographic features. Failing to define a specific target customer is a quite common reason why some businesses fail to thrive. They focus on the product or niche they find interesting and then start to market to it. You are waging a losing battle if you start this way.
There are many ways to learn about your market. Here are some simple ways to get started:
a) Look at your current customer base if you have one. What are their key demographics? Send a survey to learn more about what they need.
b) There are companies that focus solely on target market research. If you have the money, invest in this.
c) If this is a new venture, look at people who are in your target niche. Find out where they are online and start to join those groups or forums or social media sites.
2. Give them what they want: Once you have a clear understanding on your target group, the next step is simple find out what they want and create products or services they need. Once you know your market well, it is easy to find areas where there is a performance or quality gap that you can fill.
3. Deliver the Goods: Once you find that hungry group of people who are desperate for your product or service, your next challenge is to decide how to put that solution in front of them with a compelling offer. Depending on your business model, this involves face-to-face or physical contact, or you may have transactions online via your website. Before you can make your offer, you need to think about the cost of your product or service. You can evaluate your competitor pricing, evaluating production and delivery costs with the right profit margin. You can also consider the psychological value that your goods provide to your target market.
4. Pick the Right Promotion Method: The array of promotion methods available can make anyone confused. Online promotion methods include:
Offline promotion methods
a) Advertising in print or on television
b) Hosting or sponsoring events
c) Promotional items
d) Coupons
e) Direct mail
f) Networking in the community (Meetup groups or Chamber of Commerce)
Online Promotion Methods:
a) Search engine optimization (SEO) techniques
b) Social media sites like Facebook, Twitter, Google, Instagram Pinterest, YouTube and LinkedIn
c) Email list
d) Online promotions
e) Blogging
f) Podcasting
g) Article Marketing
h) Online Events or Livecast
i) Mobile
j) Search marketing
The trick here is to find the channel that has the most value to your prospect. The key to successful marketing no matter what methods you use or products you promote is to keep it focused on your prospects. Always start with what they need and want and work your way back to your offer from there. If you know them well, provide what they want and promote it where they can see your offer.
5. Develop an Effective Marketing and Communications Plan: Once you have completed the fundamentals, you can now think about how you are going to communicate to your audience.
Here is what you must focus on when planning your campaign:
1. What is the goal of your campaign? Do you want to build more brand awareness, increase leads and sales?
2. What is the message you want to convey to your target market?
3. What communication channel do you want to use? What makes the most sense based off what you know about your target market?
4. What type of media will you send? Video, infographic, emails or will you use an integrated approach?
Remember that the success of your marketing communications plans relies on your ability to craft the right message at the right time, delivered in the right way.

Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 7 months ago

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