Business success has always been elusive, but, as the economy tightened, businesses stepped up their search for the next trick to give them a competitive advantage. Maybe social media marketing would work? Or increasing appeal to a specific demographic? But, these marketing tactics can be very expensive and the ROI is often speculative. Other businesses [...]
Since the dawn of marketing time, the 4 P’s formed the nexus of the marketing strategy we teach students and if you ever took marketing you’ll recall these elements are: product, price, promotion, and place (OK, distribution, but we needed another P). Of course, marketing is only about 75 years old (born of Economics and [...]
Social media is an increasingly widespread tactic to achieve marketing goals. But, like a hammer, its only good at some things and to be effective social media needs to be part of a larger marketing strategy that uses other tactics, as well. Integrating across these marketing tactics is critical for success.
Ever tried to publish a book or sell music without a publisher or recording studio? Its not easy to be successful without their marketing efforts. Now artists can effectively sell their works to a public hungry for new and interesting options. Social media acts to match consumers with new talent.
Although difficult, listening may be more important than anything else you do to promote your business, especially in terms of social networking. Therefore, even if you don’t choose to establish a social network presence, a good listening post is a must.
Yesterday saw a number of questions posted on my wall (at http://facebook.com/angela.hausman). We could have used more folks available to answer questions, however.
These are just a few of the MANY changes to marketing strategy wrought by social networks. So, here’s the question. How has YOUR firm modified your marketing strategy to accommodate social networks? Please share with the group so we can all benefit from your knowledge. If you develop tools for managing social networks, give us a link to your products. If you find problems, what solutions would you like to see developed to solve these problems?
Every Friday I host “Ask a Marketing Expert” on my Facebook page at http://Facebook.com/angela.hausman. Questions are answered by my network of hundreds of marketing experts. So, join us next Friday to post your own burning marketing questions. Remember, its fun…its free…its Friday.
Successful marketing strategy is not one size fits all — different situations require different strategies. This series has introduced marketing strategies for different product types.
Successful marketing strategy rests on creating customer satisfaction. This series describes different product types and strategies for achieving satisfaction.