Optimizing Marketing Across Multiple Channels is Quick, Easy and Relatively Cheap!

CMO’s and marketing professionals have a finite number of media channels to link to response channels, however mixing in one variable such as a unique offer or unique creative and the complexity amplifies exponentially. One way to simply the process is to use call centers and tag each variation of … offer, channel or creative with a unique 800 number (aka toll free number). However, this approach creates an entirely new set of problems. That being the management, tracking, and measuring of each response channel or unique 800 number … and … linking the response back to the media plan and budget. For the amateur it is an insurmountable challenge, and the experts want companies to pay hundreds of millions of dollars for phantom solutions.

Call this challenge whatever you like: Marketing ROI … linking marketing to financial consequences … return on marketing investment … contact center optimization … information silo-ing … channel centric silos … distributed marketing technologies … even managing multichannel marketing efforts!

I do not care what you call it, at the end of the day measuring multichannel campaign performance is it simple … it is easy … it is relatively inexpensive.

The first issue of multichannel optimization is corporate culture. It is an intangible that most organizations can never hurdle over. Internal politics, business unit fiefdoms all come into pay and prevent a business organization from being able to calibrate around one goal. The enemy within is always more difficult to conquer than external business battles. Nevertheless, if a company can break through the political minutia they will be able to capitalize on, every penny of, marketing spend.

The core issue is realizing that marketing permeates every group, business unit and each and every person inside the company. Vendors from the outside who feed off of the company play a critical role too (e.g. agencies), and vendors are more complicit than amiable. Aligning all hands to be focused in achieving a marketing measurement system is a very ambitious goal; however it can not be achieved without profound cooperation and collaboration from within the leadership ranks. In truth, I can stop the article right here; however I have to spend some time on the parasitic marketing technology companies that suck the life blood out of other companies’ successes.

Shockingly, and I am using the word “shockingly” with complete sarcasm, these marketing technology companies pay technology research companies a tidy sum of money to validate their existence. The technology research companies use executive interviews and statistics so the marketing technology companies can turn around and cobbled or boarder-line fabricated results back to the unsuspecting executives that were interviewed to demonstrate to the executives how much they need their marketing technology solutions.

Let me get back on point. Successful multichannel marketing is just being able to quickly, (on a daily basis) peer across, using a marketing dashboard, multiple yet separate marketing campaigns, delivered by different (multiple) media channels (e.g. TV, Radio, Alternative Media, Etc.) with this vista, a marketing professional can identify what is working, what is not working. There is no challenge of implementing such a system, which measures, and optimizes multichannel marketing. But having such a system in place is like taking a gun to a knife fight.

The intangible benefits are innumerable, but the direct benefits are astonishing:
— Profit can be throttled up or down at will
— Brand value can be measured and valuated
— Lifetime valuation of customers
— Purchase Pattern mapping can identification potential repeat purchases
— Sarbanes-Oxley can be complied with achieving Wall Street transparency
— Customer satisfaction criteria can be exploited
— A marketing dashboard can be developed monitoring critical metrics

Linking off-line to on-line, integrating the call center and retail outlets into a marketing performance measurement system is easy even if there are multiple order entry systems, CRM system, and telephone switches. Even with such a hotchpotch, the call centers and finance department maybe losing some efficiency, but that shouldn’t have any affect on a CMO’s marketing measurement system.

A CMO only needs four pieces of technology to track as many disparate data silos they need:
1) a data exchange engine (DxE) to process all the data feeds,
2) tracking tags software application to organize all the 800 numbers, promotional codes and landing pages, and
3) a dashboard delivery system, any web browser will do,
4) a repository to store all the historical data.

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Keep Score And Know Thy Markets – Tantalize and Analyze

Today, many marketing managers measure marketing performance using marketing metrics and profitability analysis to interpret not only the company’s marketing performance but also to quantify, and compare, results against the marketing goals and objectives set forth by that particular firm. One effective method for achieving this feat is with the use of marketing dashboards that includes customer performance scorecards, along with stakeholder-performance scorecards. For those unaware, marketing dashboards are a set of relevant external and internal measures assembled for not only synthesis but also interpretation. Through the input provided by these scorecards, organizations could use marketing dashboards to reflect on the company’s performance and to provide possible early signs of trouble that may be on the horizon.

Please note that a customer performance scorecard records how well the company is doing year after year on such customer-based measures as the percentage of new customers to average number of customers and the percentage of target market customers who have brand awareness, recall, etc. By incorporating customer performance scorecards, companies would have an effective method for understanding customer perceptions for products or services offered.

Unfortunately, the items listed above does not take into account how stakeholders view the organization, hence the need for implementing stakeholder-performance scorecards. A stakeholder-performance scorecard determines if various stakeholders, such as employees and bankers, are satisfy with the company’s performance. With stakeholder-performance scorecards, organizations could understand how a variety of stakeholders perceive the firm, including the goods the company provides. This is a crucial marketing analysis tool because most organizations depend heavily on stakeholders for carrying out company goals and objectives.

Although both types of scorecards provides organizations with valuable information pertaining to the company’s reputation, it does not provide the firm with other critical information relating to sales, revenues, and market share. To gather this particular info, companies could use sales analysis, including sales-variance analysis to measure sales relative to company goals and objectives. With sales-variance analysis, management measures the relative contribution of different factors to a gap in sales performance. For instance, organizations could use sales-variance analysis to determine if factors, such as territories, are the main contributor to why the company is failing to achieve its expected sales levels.

In addition, organizations could also use profitability analysis for measuring the company’s performance relating to profits. Many companies use profitability analysis tools, such as activity-based accounting, to calculate profitability of the various activities within the organization. To improve on profitability, managers can examine ways to reduce the resources required to perform various activities, or make the resources more productive or acquire them at a lower cost. Alternatively, management may raise prices on products that consume heavy amounts of support resources. With a profitability analysis, companies could ensure optimal use of company resources in an effort to become more profitable.

Personally, I believe that the two most important analysis for any business is the communication market analysis and the S.W.O.T.T. analysis. Reason being that both types of analysis will provide organizations with a holistic view of the firm’s overall marketing performance. For those who are unaware, a communication market analysis is the process of discovering the organization’s strengths and weaknesses in the area of marketing communication and combining that information with an analysis of opportunities and threats present in the firm’s internal and external environment. Through an effective communication market analysis, organizations could gather crucial information pertaining to five key areas:

Competitors
Target Markets
Customers
Product Positioning
Opportunities

To be successful in marketing, it is vital that organizations understand who their competitors and customers are, along with the opportunities available in an effort to create an effective marketing mix that would aid with positioning the product at the right target markets. To ensure that the product is effectively position, organizations must conduct distribution-channel analysis in an effort to determine the most efficient route for getting the firm’s goods to target markets. Doing so would enable the company to use the most effective distribution channels for delivering products or services to consumers. Please note that although an organization may determine effective distribution channels for delivering goods to target markets, other factors may influence the delivery of those goods. For instance, competition, including other threats could also hinder a company’s distribution of products or services. To ensure that organizations conduct the necessary research to understand the threats and competition a firm faces, it would also behoove the company to conduct a thorough S.W.O.T.T. analysis.

With a S.W.O.T.T. (strengths, weaknesses, opportunities, threats, and trends) analysis, organizations could evaluate the internal and external aspects of the company. For example, companies could use a S.W.O.T.T. analysis to measure internal factors, such as leadership and management, structure, or even the strategies and tactics set forth by the organization. As for external factors, it includes the global, economic, and competitive environment. Although a S.W.O.T.T. analysis has several advantages, one pitfall with this particular approach is the lack of weight, or points, associated with each area that would highlight its significance to the organization. For example, the organization may conclude that a longer list of strengths versus a shorter list of threats means that the company is doing well. When in fact, the threats are more significant than its strengths and because of this, the company is performing poorly. With this in mind, the goal is to use a S.W.O.T.T. analysis to determine the most effective marketing mix to incorporate for products or services offered in an effort to remain competitive, and to maximize on any available opportunities while minimizing on competition and other threats. For additional info, please visit the “Freebies” page at Success Pen Pal.

Remember, successful organizations understand where their performance is in relation to the competition. Some useful marketing analysis tools that would aid with measuring how well the company is doing versus their competitors is with the use of the following market analysis:

Overall Market Share – Company sales expressed as a percentage of total market sales.
Relative Market Share – Expressed as market share in relation to its largest competitor.
Served Market Share – Sales expressed as a percentage of total sales to its served market.

Through these measurement methods, companies could obtain crucial data letting them know the amount of market share gain, loss, and the potential for future market share within a particular industry. The goal is to use marketing analysis, including communication market analysis to remain competitive and to maximize on the available opportunities.

Zora Neale Hurston, a renowned writer and anthropologist, wisely stated that “research is formalized curiosity that is poking and prying with a purpose.” By continually keeping score and knowing thy markets, organizations could gain crucial market research analysis data that would assist with achieving the firm’s goals and objectives. If needed, companies could adapt their marketing strategies accordingly in an effort to achieve those goals and remain successful for years to come.

In the end, if you treat your business like any other successful major league sports franchise, you’ll ultimately end up winning because both share very similar strategies and tactics. That business success also requires keeping score, knowing your markets and competition, along with having the ability to not only take large educated risks but also to quickly adapt when necessary to win the game.

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Promo Dashboard – List Building That Converts Like Crazy (Product Review)

List building is one of the most important elements of online marketing. Often it will determine the success or failure of your site or online business. Now there’s a handy product from well-known Internet Marketer Marlon Sanders which will help you build your list: Promo Dashboard.

Since list building is one of my favorite subjects Marlon Sanders’ Promo Dashboard held special interest for me. I am always eager to learn new ways to improve my list building methods and techniques. This product does not disappoint.

Promo Dashboard is a very detailed “point & click” solution to all your list building tasks. Easy to use and simple to implement. Marlon has gone out of his way to make list building something even the most novice marketer or webmaster can accomplish. Unlike many list building products, courses, ebooks, etc., there is no fluff or filler, just straight practical steps that take you from A to Z.

Promo Dashboard in a nutshell is all about building your list and converting your subscribers into buyers. It takes you step-by-step through everything you need to do to build your opt-in list or lists and to get those prospects to check-out or buy your product.

But this is not just about building your list; it is also about promoting your products and business. This is direct, no-nonsense marketing advice on how to find your targeted audience, how to get these interested customers onto your list and how to convert these people into buyers. You get an online interface or site where you click on the icons on the DashBoard to get all the information you need to accomplish each task.

Marlon gives you an “audio overview” of the six major steps you need to do:

* targeting your market

* creating your offer

* building your squeeze page

* setting up your autoresponder

* promoting your offer

* turbo charging with Web 2.0

all these major steps are further divided into 6 sub-topics or things you need to do to “turbo charge” your promotions.

If all this sounds complicated, it isn’t.

Marlon always does a great job of breaking all these marketing steps and processes down into easy tasks even the beginning marketer can accomplish without too much sweat.

This is the main reason I like Promo Dashboard – it takes a rather complicated marketing process such as list building and breaks it down into simple steps anyone can do. That is also why I like all of Marlon Sanders’ Dashboard products which include Marketing Dashboard, Info-product Dashboard and Design Dashboard.

These Dashboards are practical “Point & Click” guides that break down rather complex marketing processes into simple, easy tasks anyone can do regardless of your own marketing background or experience. Besides, these products come from one of the legends of Internet Marketing… Marlon Sanders is a solid marketer who produces solid products that work.

Having done extensive work on list building myself, (I offer an online course and list building is one of my targeted keywords in Google — just check it!) I thought I knew everything about list building. However, PromoDashboard opened my eyes to many areas where I can fine-tune and improve my methods. It also offers excellent resources which I never thought of using before now… this is worth the price alone for me.

If you want a product that will give you ways to increase and improve your list or prospect building abilities, I would strongly recommend you consider Promo Dashboard. It is a simple “point & click” solution to all your list building problems. Moreover, it is a simple way for anyone to promote their site, business or products. Promo Dashboard delivers the goods and then some.

Get a Step-by-Step Guide that will show you How to Start, Build & Manage your OWN HUGE Opt-In List.

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Marlon Sanders’ Promo Dashboard (Review) – Stress Relief For Internet Marketing

Internet marketing and stress relief don’t often occur in the same sentence. And what in the world does Marlon’s Promo Dashboard have to do with stress relief anyway? Or with teaching us about stress relief. Read on and find out.

Imagine yourself in a situation where you’re stressing over a huge big project, or way too long a to do list. Anyone, online or offline, probably knows that just about anything big enough to matter usually includes both of these elements.

There’s an easy way to relieve that kind of stress though. Stop multi-tasking. Stop even thinking about what you’ll have to do later. Just take things one task at a time, and while you work at whichever one it is you’re working on at the moment, keep your focus right there.

I’ve been teaching this to my students for years: The key to being less stressed while taking a test: Approach it one question at a time. And that’s exactly what Marlon Sanders’ Promo Dashboard makes you do too.

Promoting a new product launch can be a challenging project with lots and lots of details to keep track of, and when any of the steps are missing, it all grinds to a halt.

And things seem to get ever more complex. In fact, just getting people to hand over their first name and email address is quite a project these days.

So what did Marlon Sanders do about those daunting tasks? He took that prime stress management approach of “one task at a time” and applied it to online promotion. The result: The Promo Dashboard, which makes product promotion, well, not entirely stress free, but much less stressful and overwhelming than I would have expected it to be.

Like all of Marlon’s dashboards, the Promo Dashboard has 6 rows of 6 icons each, every one of which represents a step in the process. Within each icon, there is a detailed tutorial that explains what to do. If tools are needed, they are either provided, or a link to a free trial of the tool is given instead. And here’s something for Mac users: for the first time, he has included instructions for Mac users as well!

Of course just looking all those icons – and seeing that once you click, there are multiple tasks to complete under each one of them, can feel pretty daunting too. Yes, that dashboard has got a heck of a lot of stuff on it.

But imagine what all that stuff would feel like without the dashboard. At least here it’s all organized and served up in bite-sized pieces, thoroughly explained. There are even videos and audios, as well as graphics and screen shots.

So you can just focus on each of the thirty-six tasks one at a time and not worry about anything else until the one you’re doing is done, and then you go on to the next one, and so on. Once you click on an icon, you get immersed in the little world of that particular task – and the other stuff is temporarily out of sight – and no longer clogging up your mind.

Now here’s how I came up with the idea for this article: not only does the Promo Dashboard work as intended, but it’s also a great model for other kinds of projects.

Marlon knows that of course. After all, he has applied the dashboard principle successfully to a whole range of internet marketing tasks:

He created the Info Product Dashboard, the Marketing Dashboard, the Affiliate Dashboard, and the Design Dashboard, not necessarily in this order, before he even got near the Promo Dashboard.

And they’re gold mines for learning all sorts of things. For example, there was this one major task I knew I really needed to do (tracking), but I just never quite figured out how. Then I found the appropriate tab on the Promo Dashboard, and voila! Turns out it’s actually easy.

Which means, the Promo Dashboard makes me feel like I have a personal tutor at my beck and call. It walks me right through things, step by step. I also found similarly easy explanations for tasks I had only recently learned the very hard and sometimes expensive way. I really wish I had had that dashboard sooner.

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Text Marketing Best Practice Guide

Over the last year or two text marketing has taken the US by storm. Yet, in the UK very few companies have really begun to explore the potential offered by text marketing. This is even more the case with smaller local businesses, who may feel that this kind of marketing is either too expensive, too intrusive or too complicated for them to integrate with their current marketing efforts. Yet this couldn’t be further from the truth and it is this type of business which really has the most to gain from text marketing.

Not only is text marketing affordable to local businesses, it also represents great value for money and with LocalDirect’s text marketing dashboard, even the smallest of businesses can run a text marketing campaign like a global corporation. Furthermore, because our system depends on a customers having first opted in to receive text messages from a business, these customers aren’t put out by these marketing messages and, indeed, many actually look forward to receiving these texts.

However, there are some essential practices that a business must observe in order to keep their text subscribers happy.

Text Marketing – Keeping Your Customers Happy

1. Always ask for permission. You will receive far better results and far fewer complaints if your text subscribers were asked to sign up. Avoid simply buying a list of mobile numbers and sending out unsolicited texts. This is no better than the email spam, I’m sure many of you will already receive. Include a call to action for people to opt in for your text marketing campaign wherever you interact with your customers, be it business cards, posters, menus, flyers or email signatures.

2. Include an opt out. With the simplicity of a keyword and shortcode combo (e.g. text JOES to 60777 to receive special offers and events notifications from Joe’s cafe) getting text marketing sign ups is easy. However to be compliant with UK law you should make it just as easy for subscribers to opt out. LocalDirect provide a keyword STOP which will allow customers to easily opt out of your marketing messages so make sure you tell your subscribers every other message or so.

3. Keep things simple. Your text marketing message should be simple and should clearly tell your prospects what it is you want them to do. A strong call to action (e.g. Come to Joe’s tonight and receive 3 drinks for the price of 2) is essential to maximise response rates. If using text marketing as an appointment reminder, make sure it is clear exactly when and where you want your customers to be.

4. Keep it timely. Reverting to our example for Joe’s cafe, it would be silly for Joe to broadcast his text message at 10.00 in the morning. Few people are thinking about what they’re going to do tonight at that time of day. The beauty of text marketing, and one of its significant advantages over other forms of communication, is the immediacy with which messages can be delivered and read. Joe would have a much better success rate if he sent his message out either as people are beginning to think about leaving work or later in the evening if his bar is already experiencing a quiet night.

5. Be honest. Let your subscribers know from the very beginning what they are signing up to and don’t start sending them messages which aren’t related to what they opted in for.

6. Offer an incentive. Keep you subscribers desperate to hear from you by offering them deals which they can’t get anywhere else. They have trusted you with their mobile number so make them feel special in return by offering your best promotions and giving them special access to your events. A call to action to join a VIP text club is an effective way of gaining opt ins, so make sure you deliver on your part of the bargain.

By following these basic text marketing guidelines you are sure to see success in your campaigns. Of course there are additional tips and tricks you can use for even better results but these will largely depend on the type of campaign you are running and the audience for your text campaigns.

One way to enhance your campaigns is to include links to a mobile website or a mobile flyer within your text marketing. Not only does this allow you to get around the text message character limit, but it also allow enriches your texts with additional content and a visual reference – great for a memorable campaign.

Stay tuned for more mobile marketing tips and tricks coming this way soon.A website like dataroom24.com will provide you with the highest quality in the industry.

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