Posts Tagged ‘visibility’

How to set your marketing budget

Monday, October 5th, 2015

How much should be spent on marketing? While large enterprises have a larger budget available, small businesses are faced with the challenge of how much they should invest in their marketing. But, how to determine this? Well, there is no benchmark as this depends on various factors. How fast do you want to grow? In which industry are you in? What about your competitors? How much do they invest in their marketing?

 

One way to set your marketing budget is by calculating as a percentage of your revenue. But here again – there is no general rule. You want to hold your market share? You will probably spend about 10-15% of your revenue in your marketing. You want to expand or increase your visibility? Start to invest 20% in your marketing measures. Obviously this variant is a bit arbitrary. Your competitors, your industry, the market pressure – there are many factors you have to take into consideration.

 

Another way to set your budget is by determining your marketing goals. You want to acquire new customers? Develop your strategy and adapt your budget to your plan. You are launching a new product or capturing a new market? Adapt your budget and increase your marketing accordingly! However, be realistic about your possibilities.

 

Today’s marketing world offers plenty of possibilities – from website, social media to print ads, direct mail campaigns, etc. And while some of them are more cost effective than others, many measures require a fixed budget to implement them effectively. A long term marketing plan, should not be perceived as an expense, but more as an investment.

 

Canada’s businesses missing Internet opportunities

Tuesday, January 13th, 2015

The missing of a web and social media presence has an impact on your business. Why is running a website crucial for your competitiveness? And how important is your visibility for customer attraction? Read more in this insightful article from Business in Vancouver.

 

How to effectively use social media to promote your business

Wednesday, December 17th, 2014

Social media has made its way into today’s business world. The majority of companies, no matter which size, use one or more social media sites for its marketing, but hardly anyone is exploiting all of its potential. To benefit from social media marketing you have to invest time and effort. Post and period is the wrong way to succeed. You have to act, by posting, following and answering questions. Shortly said – be active.

Present your company and create a lasting relationship with your customers. Social media gives you the possibility to contact your clients directly and provide unique customer service. Listen to what people say about your company or products, reply to questions or complaints and show that customer care matters in your company.

Moreover, a social media presence contributes to drive traffic to your website. Maybe you operate a corporate blog? Refer to it on your social media account. Or you are about to launch a new product or service? Arouse attention on Twitter or Facebook to get interested people to learn more about it. Keep clients up to date about upcoming events or industry related news on youtube. But with all these, keep in mind that your social media account is not just an advertising platform but foremost a communication tool. So keep your posts informative and interesting, avoid direct promotions.

Another benefit of being active in social media is the increase of your web presence. Today a single website is often not enough. To stay relevant for search engines and to get visibility a social media account is an important key to success.

To gain the highest benefit of social media, businesses have to stop seeing it as an advertising tool or as a possibility to attract leads, but as an opportunity to increase customer loyalty and to improve their image.