No one wants to throw money down the drain, so measuring ROI (return on investment) is an important way to ensure you get value for the money your business spends.
Many companies block access to social media in the workplace, but now they’re trying to dictate what employees can say in social networks from home or on their mobile devices.
Now, instead of the 4 P’s, Hoffman and Fodor contend the 4 C’s are critical for engagement in social media — connections, creation, consumption and control. This shift requires a change in the way normal marketing metrics are collected and evaluated — especially ROI.
In social media, finding influencers, getting them talking about your brand, and mobilizing their social networks are critical spreading your brand message, thus supporting a successful marketing strategy.
Your brand might be killing you — or at least your company’s bottom line. In order to maximize returns you need to 1) know how consumers view your brand and 2) build a marketing strategy to maximize your brand. Two tools for building an effective brand strategy are co-branding, which involves branding your product with another, complementary brand; and dual branding, which involves selling your brand to two different markets.
Perceptual maps are valuable tools of marketing strategy. This post identifies the 4 steps necessary to develop perceptual maps and use them to create better marketing strategy.