SKN Enterprises

Viral marketing is one of the most if not the most powerful way of advertising. I call it business at the speed of trust.

Viral Marketing

We are all influencers, influencing others, and we are all in turn influenced by those around us. We rarely do or try something new if there is no ‘social proof’. Before we go to see a movie we might ask some friends what they thought of it, we might read a review or look for clues from others that have seen the film to find out if it’s any good. Before we go on a holiday we might check out some travel advice sites like Trip Advisor or ask our work colleagues and neighbours about their holidays.

Viral Marketing

Usually when we want to buy a piece of software, fridge or new phone we like to go online to Google product reviews. I think you get the drift. We want social proof before we invest our hard-earned money or spend our precious time on a product or service. At the end of the day we trust each other more than a sales people or advertisers. From a ROI (Return On Investment) perspective viral marketing is one of the cheapest and most highly leveraged forms of advertising. Coupled with the exponential power of the internet, viral marketing gives you a very potent and powerful platform to get your message to the masses.

Viral Marketing

If you run a business coaching service, it is your job to coach new and struggling business owners to make the right choices.  You are just like a football coach.  You give your clients plays and encourage them to run the plays properly.  One aspect of business that you should cover is marketing, namely internet marketing.  Even storefront businesses can benefit from internet marketing.  Many just do not know why they should invest time and money into the effort or how to get started.  It is your job to give them ideas.

In terms of internet marketing, there are many options.  Internet marketing presents a lot of opportunity, both large and small.  All businesses can and should utilize the internet.  As previously stated, some just don’t know how to.  So, create a game plan for your clients or their advertising department to follow.  What could that plan include?

Blogging.  Many individuals make the mistake of believing blogs are for personal use only.  They are not.  Blogs can also be used as successful internet marketing tools.  Blogs rely on content, so your client or one of their employees will need to do this task, but it should only take less than 30 minutes a day.  They can write content related to the products or services they sell.  For example, someone running a dog grooming business can write articles on anything pet related, including care and health.  That blog can and should lead back to their business website.

Hosting contests.  People love free stuff and contests give them the chance to win.  It is, however, important to proceed with caution.  If your client posts a contest on their website, they will get those who fill out the entry form a leave.  Use a blog and have a monthly newsletter or RSS feed available.  Instruct your client to allow for an extra entry for anyone who subscribes to these.  They receive daily or weekly updates, always reminding them about the business and the products or services offered.

Online business directories.  In terms of internet marketing, one of the first places business owners should head to is online business directories, but most make it their last stop.  Fewer Americans turn to their phone books to find a business.  They perform standard internet searches and use online business directories, such as the one offered under the “Local,” heading at Yahoo.com.  If your client is not listed in these directories, encourage them to do so and right away.  The process should only take a few minutes.

Online message boards.  For most business owners, online message boards are nothing but a waste of time.  They don’t want to see their employees socializing online while on the clock.  Yes, this is good, but encourage your client to see the marketing aspect.  For example, companies who sell pet related products and services should participate in discussions on pet related forums.  Include a link back to the company website in all allowable signatures and profiles.  When posting, the name and link will show.  Pet owners are this company’s targeted market.  They aren’t waiting for the customers to come to them.  Instead, they are going directly to the source.

Banner and link exchanges.  Online networking is just as important as internet marketing.  There are many connections to be made online and these connections can lead to increased advertising.  To get started, encourage your client to network with those in related fields.  They can set up link and banner exchanges.  For example, if your client sells pet products, coach them through finding pet services, such as dog grooming or dog sitting.  Instruct them to contact the owner of the website and offer a banner or link exchange.  In these aspects, both companies benefit and advertising is free.

As you can see, there are many ways to market a business online.  Your job is to coach your clients through the process.  Carefully monitor each step and offer feedback.
 

Research on marketing is essential to understand the pattern of marketing. This is possible by searching existing knowledge related to business marketing. It is a form of business research, business-to-business marketing research and business marketing research. Marketing research is done in many forms and all these forms are known as problem-identification research.

Research in advertising is done to determine the copy testing of advertisements. It is also used to know the efficiency of ads placed in any medium, the customer attention it gets, the message it delivers and how it motivates the customers to buy the product. Commercial eye tracking is done to understand the visual behavior of the customer. Ads, websites, etc., are analyzed for this. Before an advertisement is released in the market, its performance can be forecasted with the help of copy testing which takes consumer’s level of attention, motivation, brand liking, and entertainment into consideration.

When a customer buys something online he analyses it in order to make the decision, this one of the criteria on which consumer decision research is done. Interviews and surveys can be done to understand consumer’s level of satisfaction, which is known as customer satisfaction studies. The demographic and psychology of the people of a particular geographical region can be studied with the help of segmentation research.

When analyzing is to be done about brand recognition, brand performance, brand preference and awareness, ad tracking is done. A favorite brand can be recognized with the help of brand equity research. Tests are conducted so as to determine what customer thinks about a brand or a product and it is specifically known as brand name testing. The demand of a product can be understood by demand estimation. After the demand of the product is taken care of, the quality should be checked from time to time. Appointing mystery shoppers who is usually an employee of the market research firm does this. He buys goods through a salesperson and notes down the whole experience. This procedure can be used to do research about rival companies’ products.

Before practical application of a concept, concept testing should be done which tells whether the targeted audience will like the idea or not. Test marketing is done by introducing a product in small numbers in the market and observing the sales, after which the product is launched on a large-scale. After the initial phase, when the company thinks of increasing the price of the product, price elasticity testing should be carried out which shows customer reaction to price fluctuations. Distribution channel audits are conducted to understand the attitudes of retailers and distributors towards specific products and brands.

The more tech savvy form of marketing research is Internet strategic intelligence. The likes and dislikes of the customers can be directly known with the help of chats, blogs and forums. Online panels are a group of experts who accept the marketing research done online. 

All the researches that are carried out can be classified as primary research, which gathers original research, and secondary research, which is based on a primary research and information published by other resources. Secondary research costs less as research is done on already researched data, but the result isn’t efficient.

The research designs used by marketing research are either based on questioning or are based on observations. Quantitative marketing research and qualitative marketing research are based on questioning. Quantitative marketing research is done to derive conclusions like questionnaires forms and survey. The number of respondents involved is high. Qualitative marketing research is done to understand something like in-depth interviews and projective techniques.

Marketing research based on observations is called experimental technique and ethnographic studies. Test markets and purchase laboratories are examples of experimental techniques. The quantity measured is determined by understanding the factors that are responsible for the success of a product and then one or some of the factors are changed and the result is observed.  In ethnographic studies observations are done longitudinally or done at several instances of time or cross-sectional, or done at only a particular time.

Research on marketing is similar to exit polling in politics. The market is studied from different angles, at different time, and under different circumstances.
 

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