MR-EG Marketing

Does Timing Matter in Email Marketing?

Sometime marketers have Good Content, Specific Mailing List, Perfect Subject Line and Attractive CTAs, but yet the emails are not Opened and Clicked.

It might be because of not sending emails at a right time.

Emails at the top of the Inbox always get better engagement.

It always improves Open Rate, Click Rate and CTR which are the key metrics of any email marketing campaigns.

The best time to send emails may vary according to the habits, behaviours and the time zones of your target audience.

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How to convert Prospect into Customer?

What is CTA – Call to Action?

If your prospects are not moving to the next step or taking too much time to move forward that may be because of poor designed CTA.

CTA is designed to get immediate response from Customers or the Target Audience.

Here are some Exciting CTAs you can use for your business to boost sales:

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CTA motivates and directs prospect to the next step.

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How to generate leads for your business?

Leads are potential customers who may be interested in your product, service, brand or offerings.

Reaching out to any stranger is not a right process to generate leads.

Identifying the right target audience is essential.

Marketers must know who their target audiences are, what are their needs and wants and where they can find them.

Here are some marketing techniques to generate business leads:

Content Marketing
Building Email list
Publishing Articles or Blogs
Social Media Post
Answer Forum Questions (like “on Quora”)
Developing Referral Programs for current customers
Offering free tools or Trails
Start Networking with the target audience
Marketing Automation - (Website, Landing Page, CTA, Lead Nurturing, Follow ups).

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What are marketing techniques to connect with potential customers?

Potential customer is someone who has some specific needs which can be satisfied by using your product or service.

Potential customer also has the capability to purchase your product.

Here are some techniques to connect with potential customers:

Internet Research
Community Networking Events
Social Media
Blogs
Online Advertising
Webinar
Cold Calling
Email
In-Person Meeting
Follow-Ups

Connecting customers is not a one-time activity but it’s a process. Marketers can use the above techniques to attract, engage and connect with potential customers.

Email Marketing – The Key to success.

Email Marketing is the easiest and cost effective way to promote any product, engage with customers and nurture the leads.

Here are some Benefits of Email Marketing:

Low Cost
Broad Reach
Easy to Segment
Quick Communication
Easy to Setup
Easy to Automate
Easy to Track and Optimize

Marketers always prefer to use this cost effective marketing channel for their promotional activities.

How to create behavioural segmentation?


Consumer behaviour is changeable.

Behavioural segmentation is a process to divide customers in different groups based on their common behavioural pattern.

Behavioural segmentation could be based on:
Purchase Behaviour
Occasions
Benefits
Customer Loyalty
Customer Satisfaction

Here are some tips to create behavioural segmentation:

Identify different behaviours or habits of customers.
Group them in different segments.
Understand the real need of customers.
Analyse and determine how your product or service meets that need.
Create a customized product or solution.
Make a personalized marketing campaign to target that specific segment.

Marketers need to observe and analyse these behaviours very carefully for targeting and providing the personalized experience.

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How to create a Brand Promise?


A brand Promise is the value or ultimate experience that customer expects to receive from a brand.

Successful Brand Promise creates space in consumer’s mind.

Here are some tips to create a Brand Promise:

A Brand Promise must provide some Value.
A Brand Promise must convey Benefits.
A Brand Promise must be Credible.
A Brand Promise should be Simple.
A Brand Promise should be Unique.
A Brand Promise should be Memorable.
A Brand Promise should be Inspiring.

Businesses need to design and create a Brand Promise in such a way that it could describe the purpose of a brand and the experience to be delivered to customers.

How to create Customer Centricity Strategy?


Customer > Product


Customer Centricity is the master plan.

Businesses make powerful business strategy by putting customer at centre not product.

Here are some tips to create Customer Centricity strategy:

Identify Customer Needs
Provide best customer experience.
Ensure after sales support
Collect feedback

Customer Satisfaction should be the ultimate goal of every marketing campaign.

What is CSAT?


CSAT is the most important Marketing Matric.


This is the fundamental concepts of modern marketing.

CSAT stands for customer satisfaction.

It is used to measure customer’s satisfaction. How satisfied customers are with the Brand, Product or Service.

Basic model of customer satisfactions are:

Meet Expectations – Satisfied Customers
Not Meet Expectations – Dissatisfied Customers
Exceed Expectations – Highly Satisfied Customers

Here are the benefits of Customer Satisfaction:
Customer Loyalty
Repeat Business
Referrals
Increased word of mouth
Lower Promotional Cost
Strong Customer Relationship

Marketers should use customer satisfaction as a marketing tool to accomplish the marketing and overall organizational objects.

What is Influencer Marketing?

Influencer Marketing is a type of marketing where Known Faces, Celebrities, Actors, Sportsmen, Social Media Stars or Key Leaders drive the brand messages to the large audience.

The Influencer speaks on behalf of a brand and these brand messages have a wide reach.

Influencer words are trustworthy for their followers or potential customers.

Here are some benefits of Influencer Marketing:

It attracts new customers.
It increases engagement.
It retains existing customers.
It increases the repeat purchases.
It drives customer loyalty.

Marketers can plan, identify and select the right influencer to spread their brand messages to the large target audience.

What is Marketing Automation?

Many businesses have started Marketing Automation.

Marketing automation is a process to automate the marketing activities.

Marketers can automate all Marketing Activities like Email, Social Media Post, Marketing Ad Campaigns and other repetitive activities.

Here are some of the benefits of Marketing Automation:

It can Target Potential Customers across Multiple Platforms.
It can capture each Customer’s Details and transfer to the other platform (CRM).
It can Nurture the Leads automatically.
It can automate the Follow Up process.
It helps you to Schedule Your Post in advance.
It can improve the Conversion Rate and overall Marketing Performance
It gives you right amount of data, matrix and insights and can avoid data overload for analysis.

What is Brand Awareness?

It provides knowledge to customer what your brand is all about.
It helps Customers choose brand over others.
It forms a gap between target audience and business.
It spreads brand message and grow the audience.
It attracts new talents.
It helps to increases customer recognition.

What is Lead Magnet?

Lead Magnet is a free item or service that is given to the prospects in exchange of gathering their contact information.

Here are some Specific Types of Lead Magnet:

Free Trail / Demo
Video Tutorial
Checklist
Sample
Coupon/Discount
Subscription
eBook
Assessment
Case Study
Whitepaper
Free Consultation
Expert Advice

Lead Magnet is usually downloadable content and it is provided to generate sales Leads.

The Lead Magnet should be of High Value, Super Specific, Instantly Accessible, Quick to Digest and must Solve a Real Problem.

What is Inbound Marketing?

Inbound marketing is the strategy to connect with potential customers through quality content.
It provides unique experience to customers.
It forms connections, answer questions and solve problems of potential customers.

Process of Inbound Marketing:

Attract the Target Audience: Through Content Strategy, SEO, Ads, Blogs, Social Media Post etc.
Engage Potential Customers: Share Case Studies, E-books etc.
Convert them into Lead: Through Email Marketing, Marketing Automation.
Close the Lead: Make them customer through Lead Nurturing, Follow Ups, Sales Tactics.
Delight: Focus on Smart Content, Provide Best Offers, and Incentives, Make them Promoter.

How to incorporate Customer Feedback in business?

Customer feedback is very crucial for any business.

It allows us to understand whether we are meeting with the customer’s expectations or not.

Here are some ways to incorporate feedback:

Ask customers open ended Questions.
Request them to give Feedback/Reviews
Send them Personalized Email and Contact Forms
Motivate them to participate in Surveys by providing some Exciting Discounts/Coupons.

The above process will give insights to make a quick and meaningful action for improvement.

Businesses also need to:
Understand customer first rather selling a Product or Service
Identify their Pain Points
Be Transparent, and open to Criticism.
Show Gratitude, provide Personalized Experience
Add value to them and
Offer actionable solution to their problem.

How to Segment Your Market?

What are the types of Market Segmentation?

A market can be segmented in different ways.

Segmentation helps business to know their Target Audience well and build a powerful marketing strategy.

Here are some common types of market segmentation:

Geographic Segmentation: International, National, Regional, Local.
Demographic Segmentation: Age, Gender, Income, Ethnicity, Education Level, Profession.
Psychographic Segmentation: Personality, Interests, Hobbies, Lifestyle, Values, Beliefs, Opinions.
Behavioral Segmentation: Spending Habit, Purchasing Habit, Browsing Habit, Loyalty Oriented, Benefit Oriented.

Marketers need to ensure that the targeting segment should be relevant to make the marketing strategy and run the engaging marketing campaigns.

What is Customer Experience (CX)?

Customer Experience is the impression customers have about the brand throughout the customer journey.

A Positive Customer Experience promotes:

Repeat Purchase: Encourage customers to make a repeat purchase.
Customer Loyalty: Customer stays with the brand and prefers to buy of the same brand.
Referral: A loyal customer provides referral which drives and generates more new leads.
Brand Advocacy: Customer recommends the brand to his Community which influence other prospects.

Marketers need to design a smooth and high engaging process for customers to interact with the brand throughout the customer journey that can exceed customer expectations and increase customer satisfaction.

What is Marketing Funnel?

Marketing Funnel is a process of step by step understanding of converting leads into customers.

Customers need at least 4-8 follow up to make a purchase.

Some Stages in Marketing Funnel are:

Awareness: Customers have some problem and got to know about your brand for their solutions.
Interest: Customers gather more information about your product and brand.
Consideration: Lead converts into prospect; Customers get more interest in product and brand.
Preference: Customers show interest to buy the product.
Evaluation: Buyers make final decision to buy the product.
Purchase: Final and ultimate. You won the customer! Here sale takes place.

Marketers need to analyse each stage of the marketing funnel to make the powerful marketing strategy.

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What are the types of digital Marketing?

There are multiple categories of digital marketing. Marketers must have clear understanding of it to make the right marketing strategy.

Here are the types of digital marketing:

Content Marketing: This is the Voice of any brand.
Search Engine Optimization (SEO): To rank page high on search engine.
Search Engine Marketing (SEM): Paid Advertisement, PPC
Social Media Marketing: Social media platform to connect with audience.
Email Marketing: Sending a commercial message.
Affiliate and Influencer Marketing: Collaborative approach to promote products by an influencer.

How to set SMART goal in marketing?

Targets are set to measure successes and meet the Goals. Marketing goals are set to drive Business objectives:

The marketing goal should follow the SMART framework:

Specific: The goal should be specific.
Measurable: Quantitative in nature for tracking the performance.
Achievable: Should be realistic.
Relevant: Should be meaningful for the business.
Time-Bound: There must be a deadline to achieve that objective.

Marketers need to follow the SMART framework to make the marketing strategy.

What is a buyer persona?

Customer Segmentation and Buyer Persona are very essential for marketers to understand before running a marketing campaign.

Customers are segmented into various groups based on age, income, location etc. Now To better understand these groups it requires to create a buyer persona.

Benefits of creating a buyer persona:

It helps to understand customer better.
It is a much detailed pictures of potential customers.
It is based on market research and insights gathered from actual customers.
It includes Personality, Interest, Behaviour, Motivation, Frustration, Influencing factors of potential customers.

Why Organizations lose Customers?


Customers may become less loyal if the product or service does not meet with their needs, wants and preferences.


Factors affecting customer satisfactions:

Customer Service: Major reason to lose customers.
Customer Attention: Meaningful engagement and treatment.
Product Quality: Compromise on quality reflects less loyal customers.
Failure to keep promises: Promised Discounts, Timely Product Delivery.
Competition: Brand switching because of similar products.

How to Retain Satisfied Customers?

Running a Customer Loyalty Programme is one of the toughest challenges of marketing department.

In present context organizations are very fortunate who have loyal customers.

Here are some Customer Loyalty Program approaches:

Build Stronger Relationship with Customers
Issue Loyalty and Membership Cards
Discounts
Reward Points
Free Home Delivery.

Managing Customer Loyalty and forming relationship with them should be the prime agenda of the organizations.

How to Increase Sales?

How to do a sales promotion?

Sales promotion is a short term program. It should be designed in an effective way to increase sales in a period of time.

Here are some sales promotion tool:

Free Trails – Attract the attention of the to use product without cost and close the sale in future.
Catalogues – Largely used if there is a variation in , Size, Shape and Features.
Price-off – Reduction in to increase sales.
Refund – In terms of Cash, .
Coupons – on purchase.

It should be designed in such a way that it does not affect the brand image and increase the sales in a period of time.

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How to develop a Communication Process?

Steps in Communication Development Process:

Prepare Target Customer Profile: Current, Target, Potential Customers.
Identify Promotion Objective: Motivate audience to act in favour of the brand.
Design a message: A communication message the audience can relate with.
Select Channel of Communication: Choose Appropriate Channel to Communicate.
Target Customer: Deliver messages to the Target Audience.
Take Feedback: It always helps to evaluate the effectiveness of communication.

Marketer needs to design and develop an effective communication process to aware, engage and provide value to customers.

What are the Best Branding Strategies for Brand Development?

A brand is a believe to indicate product’s benefits.

Here are some of the Best Branding Strategies:

Brand Extension: Business uses established brand to introduce a new product.
Sub Brand: It’s a combine element of existing brand with new brand.
Parent Brand: Existing brand name is used for new product category.
Family Branding: When Parent brand associate with multiple products through brand extension.

Brand Manager applies a combination of existing and new elements for brand development.

What is Brand Equity?

Brand Equity is the added value Companies provide to make the brand memorable. It’s a reputation of a brand.

Brand Equity can be grouped into:

-Brand Loyalty: Consumers repeatedly purchase the same brand.
-Brand Awareness: Brand recognition (Yes, I have seen this brand earlier).
-Perceived Quality: Consumers feelings or experience about the quality and delivery.
-Brand Association: Images, Symbols or benefits customers believe to have in a brand.

Positive brand equity can help companies to offer the product at premium price.
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What is Product Life Cycle?

Does a product have a life?

A product follows certain Life Cycle patterns.

There are four stages in Product . These are:

- Introduction Stage: are low, Promotional are high, Sales promotions are required.
- Growth Stage: There is a sharp rise in . Demand grows rapidly.
- Maturity Stage: Sales grows but with a diminishing rate.
- Decline Stage: Sales starts declining because of multiple reasons.

Marketers should keep an eye on Customers Preferences, Competitive Market Structure, Change in Technology and Other Forces which lead to decline of sales.

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How to develop a new product?

What are the Processes of developing a new product?

A new product must pass through some logical stages. These stages are:

-Idea Generation: The first stage begins with an idea.

-Market Structure Analysis: Positioning of existing brands & new product opportunities.
-Sales Potential: Potential of new product in the market structure is estimated.
-Concept Screening: To eliminate unsuitable ideas.
-Advertising Development: Advertising strategies are developed.
-Product Formulation: Idea on the paper is turned into a product on hand.
-Testing the product: To assess whether product meets with the developed concept specifications.
-Commercialization and Final Launch: The product enters into the market and it’s lifecycle starts.
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How to increase sales growth?

Sales Growth can be increased by:

Increasing Market share in existing market or
Finding new markets.

To achieve Sales Growth. There are four ways. These are:

Market Pe*******on: Expanding sales of present products in existing market.
Market Development: Creating New uses of present products.
Product Development: Developing new products to satisfy existing needs.
Diversification: Developing new products to satisfy new consumer’s needs.

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Does a product have different Layers? Like an onion.

What should be layers in a product?

A product should have different layers like an onion.

Each layer should offer some value to customer and explain reason for making a purchase.

What are the layers of a product? These are:

-Core Layer: It explains the reason – Why, buying the product.
-Basic Product Layer: Basic Utilities, Features.
-Expected Product Layer: Buyer’s expectations from the product.
-Augmented Product Layer: Associated Services.
-Potential Product Layer: Transformation, New development of the same product.

Marketers should analyse the different Layers of a product to make the target audience aware of it and market it effectively.
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Consumer Behaviour - Decision Making.

How consumers collect information for a Purchase Decision?

What are the sources they use for making a purchase?

The first source of information for a purchase decision is internal source.

If the information is not available in their inner memory they may go for external sources.

What are the external sources? These are:

-Personal Source: (Family, Friends, Peer Groups).
-Commercial Sources: (Advertisements, Dealers, Salesmen).
-Public Sources: (Media, Ratings/Reviews, Publications).
-Experimental Sources: (Examining, Trails, Using the product).

Marketers should identify these sources, study it and market the product or Brand accordingly.
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How to understand Consumer’s Buying Behavior?

What are the stages in consumer decision making process?

Here are the steps. It starts with:

- Problem Recognition: Gap between current state of satisfaction and expectations.
- Information Search: Available information is collected for decision making.
- Evaluation of Alternatives: Intentions to either purchase or reject a Product/Brand.
- Purchase Decision: Buying Later or Buying Now.

There is also:

Post Purchase Behavior: Either Satisfied or Dissatisfied Customers.

Marketers should study these behaviors and the information sources used by consumers.

Satisfied consumer’s behavior can reflect in terms of Repeated Products, Referral to New Customers and Brand Advocacy.
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How to position a product in the market?

Here are the steps:

- Define the segment in a particular market.

- Identify which segment to be targeted.

- Understand what target consumer expect while taking a purchase decision.

- Design a product which can fulfill the need and expectations of consumers.

- Evaluate the market leaders and their position in the market as well as in consumer’s mind.

- Develop a product image that should be apart from competing products and must be as per consumer’s expectations.

- Promote the product with target customers (Through Promotions & Brand Awareness).
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What should be the steps in business buying process?

For B2B Buying

Businesses need right procedures for making a purchase decision.

Each step has its own impact in organizational decision making process.

The steps should be:

- Identifying Organizational Need
- Determining Product Specifications
- Identifying Suppliers
- Evaluating Suppliers
- Negotiation with supplier for Purchase Order (PO) &
- Evaluating Product and Supplier Performance.

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How to motivate consumers to buy products?

How consumers learn about a brand?

As per Maslow’s Theory. Every individual has a Need Hierarchy and

Every individual follows a pattern of need structure.

Physiological Needs – Hunger, Thirst
Safety Needs – Security, Protection
Social Needs – Love, Sense of belonging
Esteem Needs – Self-Esteem, Recognition
Self-Actualization Needs – Self Development

Once lower order of need is fulfilled, the next order of need starts pursuing.

Marketers should make consumers feel that their brand fulfill consumers required needs.
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How to build coherent marketing strategies?

Same consumer can make different decisions based on different circumstances.

Consumers can show dissimilar buying patterns.

The solution is effective Marketing Mix. Which are:

- Product
- Price
- Place
- Promotion

Marketers can use marketing mix effectively to influence consumers to take decision.
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How to design effective Marketing Planning?

How to plan effective Marketing Strategies?

There are Micro and Macro environments which always influence it.

Micro Environment Factors:
Company
Competitors
Customers
Suppliers

Macro Environment Factors:
Demographic
Social and Cultural
Political and Legal
Economic &
Technological

By observing and monitoring the trends in these environments the planning and strategies could be designed accordingly.
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