Internet Marketing – The Next Big Thing in Board Room Meetings

Don’t be surprised if ‘Internet Marketing’ is the next agenda during your board meetings, with Narendra Modi and NDA winning the Elections 2014 this has become the NEXT BIG THING for discussion. Be it your board meeting, customer care dept. meeting or human resource meeting, everyone is discussing about it, so be equipped for it. 

Internet Marketing as defined by Wikipedia – Online advertising, also called Internet advertising, uses the Internet to deliver promotional marketing messages to consumers. It includes email marketing, search engine marketing, social media marketing, many types of display advertising (including banner advertising) and mobile advertising.  

Major reasons behind Internet Marketing being the HOTTEST topic of discussion is almost 90% hardly understand its implications whether positive or negative. Having account on Facebook and twitter deciphers into knowledge on Internet marketing, which by far most Indian’s believe?

 

So finally what is internet marketing, to make it simple here you go

Search Engine Optimization - This is a process to organically rank your website in top ten results in search engine. This process involves more than 200 techniques and each is used based on the search engine algorithms. To put it in simple words, using this technique, your website can rank in the top pages of search engine, which results to more clicks, more leads, more conversions and more BUSINESS.

Social Media Optimization – This is a process where in social media tools like Facebook, Twitter, Google+, Blogger, Flickr, Linkedin, Pinterest, etc are used. SMO is more of a branding technique for the company. This technique is used to engage with the stakeholders, customers and leads. Though this is a long term process, but it definitely helps in the SEO process to generate instant leads.

 

Pay Per Click – This is a process where you pay to the search engine / social media portal to rank your website / updates on top of the results. Referred as PPC, since you have to pay per click, there are different combinations which can be used to garner the desired result. But since this is PAY PER CLICK, so incurs huge budgets.

For any company to succeed online a combination of these three techniques are used, but never forget to define the objective of the strategy, because without objective the whole budget and time will be wasted. So next time in the board meeting be well prepared to discuss how this will be a boon for different departments. Remember ‘Digital Marketing in Future will be like SEX, only losers will have to pay for it’

 

For better understanding check out my presentation on Slide Share - Click Here

B2B Marketing - Guide for beginners

Sales and Marketing is the most used up terminology in the context to B2B Marketing in India. Though all the B2B companies believe in marketing and it is of utmost need, but barely any company ever thinks about analytic. When it comes to finance or human resources, ROI is what every company thinks first, but this doesn’t stand true when it comes to marketing function.

Most of the marketing function decisions are taken blindly or by gut instinct, this sometimes proves, but most of the times such decisions are impractical. Here I have listed down the process of marketing based on by experience and it has helped lot of companies.

Most of the B2B companies refrain from using technology for marketing function and try to run away from it, but they hardly understand that it is the backbone of any function. Having tools like CRM, Social CRM, Social Media Metrics and Marketing Campaign management helps in long way to provide meaningful insights about all the different campaigns. In marketing there is no thumb rule, sometime one of the worst designed campaign works and expensive campaign will hardly give results, so METRICS are important.

With digital marketing most of the companies are rushing towards this new found avenue, with the hope of increase in conversions, but traditional marketing also has it’s positives, it is important to sync it with your CRM.

Trip to Kashmir - A different perspective

Kashmir.. snow clad mountains had always mesmerized me "Heaven on Earth". Right from the state being projected as Switzerland of India to Shammi Kapoor movies, this was the destination I was eager to visit. Though I would suggest you to refrain from traveling by road and do book your flight ticket to Srinagar, since Srinagar is not connected by Indian rail network. Though if you you can reach till Udhampur station by rail network, and after that travel for around 10 to 12 hours depending on the traffic and landslide situation till Srinagar, this journey drains you physically and mentally, due to rough mountain roads.

When you are in Kashmir you realize, that Kashmiris live, in a totally disconnected world for almost six months in a year. During this time they don't have access to lot of amenities we enjoy, whether it is electricity or water or help from govt. It is because of the National Conference govt that now Kashmir is safe heaven, and tourists needn't fear to travel or roam in any region of Kashmir. Though you will find Indian Army and BSF jawans patrolling in every nook and corner with high end weapons which you would only see on Discovery Channel Future Weapons show.

During the summers Kashmir receives lot of tourists, but since Kashmiris are uneducated, they are unable to identify and treat tourist accordingly, which leads to bad impression amongst tourists. Whether you go to Sonmarg, Gulmarg or Pahalgam Kashmiris are always fighting with tourists and also in-between them quite aggressively, when it comes to getting money out from tourist pockets. They will force you to use their sledge service and pay leading to disheartened tourists. This has been then one of the reason foreign tourists don't have Kashmir on their cards as tourist destination, the other being terrorists.

Kashmir would have evolved as the biggest tourist destination, much better than Kerala had they marketed and focused, rather than driving Kashmiri Pandits out of the state. Kashmiri pandits one of the most educated lot of people left the state almost 10 years back when terrorists started spreading terror and killing them for free Kashmir or (Pakistan Occupied Kashmir). When the country was moving towards the 21st century, Kashmiris were still grappling in terror stuck state making living out of nothing. For any state to develop, they first have to increase literacy levels, "education acts like launcher".

Just analyze Kerala as a state, what it has which no other state in India doesn't have? Highest Literacy, can think of only this, but still they have been able to market the state at par with  Pattaya (except prostitution part) Kashmir needs to study Kerala model and accordingly brand itself to become a tourist capital, since the state majorly depends on tourism for its live hood. Along studying the Kerala model, Kashmir needs to increase the literacy level of the state as a whole. Education helps to open and change the mindset of people, just speak to any taxi driver in Kerala and then talk with a driver from Kashmir, you can easily spot the difference.     

 

Consumer Behavior in Digital World - A New Dimension

E-commerce seems to be democratizing 'shelf space' as top brands do not dominate the e-commerce channel as much as they dominate brick-and-mortar retail the Bernstein report said. – Jack Neff, Advertising Age 

Consumer behavior study helps to identify consumers and target audience, the study provides in – depth analysis on the following:

• What compelled the Consumer to buys the product / Service? 
• Who compelled the Consumer to buys the product / Service? 
• Why a consumer buys the product / Service? 
• How the Consumer buys the product / Service? 
• Where the Consumer buys the product / Service? 
• When the Consumer buys the product / Service?

Fundamentally consumer behavior answers the 5 W’s and 1 H’s which any company or marketer needs to understand. This insights help to market the product / service. Within last few years mobile, internet and social media has changed the buying behavior of customers worldwide. People spend more time on internet, especially on social media websites, which influences their behavior towards that product / service. 

• 91% of people have gone into a store because of an online experience. (Source: Marketing Land) 
• 89% of consumers conduct their research using search engines. (Source: PR Newswire) 
• 62% of consumers end up making a purchase in-store after researching it online. (Source: Marketing Land) 
• 72% of consumers trust online reviews as much as personal recommendations. (Source: Search Engine Journal) 
• 78% of consumers say that the posts made by companies on social media influence their purchases. (Source: Forbes)

Marketers believe that in 2014 on wards marketers will begin using big data to analyze consumer behavior, since it will get itself seamlessly integrate with people’s busy lives generating in – depth information about trends. With big data the marketers will get empowered which will help marketers and advertisers to exactly target specific clients / consumers at specific time, place and through specific device. Further with geo – location based targeting of advertisements and promotions the marketer can exactly geo – locate the type of device and map consumer behavior.

Pic ref: http://tommytoy.typepad.com/tommy-toy-pbt-consultin/2013/04/should-we-re-write-the-rules-of-market-research-part-i-.html 

Different Marketing Concepts - Explained

Marketing on the whole encompasses different strategies and techniques, here below I have tried to explain some of the terminologies which are commonly used:

1. Affiliate Marketing: In simple terms Affiliate Marketing focuses on “Commission Based” marketing techniques. This strategy has been used by most of the businesses, since they appoint distributor, sub – distributor and further marketing affiliates for increasing the sales. One of the most niche features of this type of marketing is, they focus wholly on “Performance Based”.
2. Referral Marketing: As the term itself highlights, “Referral Marketing” works on customer / client referrals. In this type of marketing customers are encouraged to pass on references for momentary benefits or recognitions. This is a pull based type of marketing technique where the customers are more often brand ambassadors. This is largely used in healthcare marketing, since they have strict laws on marketing. Also networking associations like BNI, IMC, FICCI, etc use this system to get leads for the members. 
3. Loyalty Marketing: Loyalty marketing emphasis on marketing strategy for retaining clients through offers, vouchers and freebies. Only recently corporate have began using it to build larger customer base. This type of marketing strategy mostly works along with Referral Marketing, since both are inter – related.
4. Visual Marketing: One of the most innovative marketing techniques, Visual Marketing focuses on the use of images, experience and other aspects of senses. The most important aspect being to understand how images can be used to communicate an idea or concept. If images and designs are used appropriately, in conjunction with each other, aesthetically, this can produce best results. Visual marketing also forms an important element in all types of marketing whether events, advertising, social media, videos, posters, etc. 
5. Viral Marketing: Viral marketing as the word itself explains, is any marketing strategy that includes all the components of marketing like web, events, mass mailers, advertisements or gift coupons which creates potentially exponential growth with visibility and effect. In olden days this was also regarded as word – of – mouth, but with the increase in internet penetration this activity is now geared along with Online Marketing.
6. Word – Of – Mouth Marketing: Word – Of – Mouth marketing differs from the naturally happening Word – Of – Mouth, as in WOMM the message is induced in the crowd or in the minds of customers. The communication or message is pushed using innovative creative’s. In last five to ten years, with the increase in internet penetration many companies have been using Facebook, YouTube, Twitter, etc to create buzz. WOMM usually works in conjunction with viral marketing by merging strategies with social networks having huge reach.
7. Relationship Marketing: Relationship marketing is a form of marketing which emphasis on developing customer relations, retention and satisfaction, keeping the goal, that in long tenure this will help to build robust foundation of customer base. Relationship marketing has been more often used in B2B sector and high net value products like servers, power generators, etc.
8. Multi – Level Marketing: Multi – Level – Marketing is a strategic form of marketing in which the sales team is compensated not only for sales they generate, but also on the sales of sales team they recruit. Usually, the recruited sales team is referred as “Downline”. The other terminology for this type of marketing is MLM, Pyramid scheme, Network marketing, Direct Marketing and Referral marketing. Mostly this is a strategic decision taken by the top management to increase sales using MLM.
9. Peripheral Marketing:  Peripheral Marketing is a concept which essentially focuses on the secondary marketing and promotion strategies. This type of marketing focuses on promoting the service tangentially. Peripheral marketing encompasses In – Film placement, Sponsorships to events, Brand Ambassadors, etc.
10. Umbrella marketing:  Umbrella Marketing or Branding is a concept where different products under a single company are co – branded by the same brand name. The whole idea behind this type of marketing is to leverage the product portfolio, using established brand name. Though this idea has been discouraged by lot of brand consultants, but few companies have successfully leveraged the concept, majorly Johnson & Johnson, Tata group, etc.
11. Sample marketing: Sample marketing is a concept wherein a product sample is shared or given to the consumer of the product or service, free of cost, so that he or she may try it before committing to the purchase. This concept usually works in automobile sector, where customers often opt for test drives.
12. POS Marketing:  Point of sale marketing is mostly known as POP Advertising, it is done to attract retail shoppers at the point of a purchase. In other words, it lures shoppers into buying additional products or services at checkout point. This type of the marketing utilizes display to catch the shopper's attention; this is done through advertising, product placement or BTL activity.
13. Online marketing: Online marketing encompasses everything that is digital, right from mobile to internet. This type of marketing is usually bifurcated into Pay – Per – Click, Search Engine Optimization and Social Media Optimization. With the increase in internet penetration the number of companies opting for this type of marketing has grown to more than 50%. Another reason behind its exponential growth is that, online marketing is relatively inexpensive and can be easily tracked.    
14. Up-sale marketing:  Up – Sale Marketing or Upselling is usually a sales technique whereby a seller pitches the client to purchase better or more expensive upgrades or add-ons in an attempt to make more profit. This strategy usually involves marketing more profitable services which will result more profit for the clients and sellers as well. Companies usually use combination of Up – Selling and Cross – Selling strategies to increase profitability.  This is often used in QSR restaurants, but in other businesses like in car sales this might be viewed negatively.
15. Direct marketing: Direct marketing is one of the most focused types of marketing and advertising that allows sellers to directly approach customers. This type of marketing includes right from cell phone text messaging to email from interactive consumer websites to database marketing, fliers, catalog distribution, promotional letters, etc. This form of marketing has been mostly used by sectors which have restrictions on other types of marketing.
16. Event marketing: Events is considered one of the most the strategic marketing and communication tools by all types of companies. The whole activity encompasses different strategies right from inviting customers to the events to themed activity, press conferences, music festival, concert, exhibitions, etc. Event marketing integrates different marketing elements like direct marketing, visual marketing, peripheral marketing, etc.
17. Cross marketing:  Over the years this concept of marketing has evolved largely to target customers with different segment products or services. In this type of marketing form, customers of one product or service are targeted with promotion of another product. Typically telecom service provider tie – up with music festivals in India, which Idea has efficiently used for marketing its services.
18. Inbound Marketing: Inbound marketing strategy focuses on drawing customers to the company; this is usually referred as pull based marketing strategy. Most often Inbound Marketing is done using web based tools like blogs, podcasts, video, eBooks, SEO, social media marketing, and other forms of marketing which focus to bring customers closer to the brand.
19. Permission Marketing:  Permission marketing is a term that has been popularized by Seth Godin. In this concept, marketers obtain permission from customers and probable interested customers before advancing to the next step in the purchasing process. Most marketers feel this is a more efficient since focus oriented, since the resources or offers are sent to only those customers who are interested.
20. Guerrilla marketing: Guerrilla marketing is considered as one of the most inexpensive yet effective marketing strategies. This involves unconventional means like graffiti, street art, flash mobs, stunts, etc. Guerrilla marketing is often used for local branding and marketing requirements. Since this is low – cost most often it is used by startups to increase profits rather than drive sales. Lately digital marketing has been considerable used for this type of marketing.

 

Marketing concepts explanation

Professor explained Marketing Concepts to a class:

1. You see a Gorgeous Girl at a party. You go up to her and say: "I am very
rich. Marry me!"
- That's Direct Marketing.

2. You are at a party with a bunch of friends and see a Gorgeous Girl. One
of your friends goes upto her and pointing at you says: "He's very
rich.Marry him!"
- That's Advertising.

3. You are at a party and see a Gorgeous Girl. She walks up to you and says:
"You are very rich! Can I marry you?"
- That's Brand Recognition.

4. You see a Gorgeous Girl at a party. You go upto her and say: "I am very
rich. Marry me!" She gives you a nice hard slap on your face.
- That's Customer Feedback.

5. You see a Gorgeous Girl at a party. You go upto her and say: "I am very
rich. Marry me!" And she introduces you to her husband.
- That's Demand and Supply Gap.

6. You see a Gorgeous Girl at a party. You go upto her and before you say:
"I m rich, Marry me!", your wife arrives.
- That's Restriction for Entering New Markets.

Logo's and their significance

Do you see the arrow between the "E" and "x" (in white)? I had never noticed it before.

The 2nd and 3rd "T's" are two people sharing (or fighting over) a tortilla and a bowl of salsa.

The world's most famous bike race. The "R" in "Tour" is a cyclist. The yellow circle is the front wheel of a bicycle, the "O" is the back wheel.

The arrow means Amazon has everything from A to Z

The gap between the "K" and the "I" is a sideways chocolate kiss.

There is a dancing bear above the "ble". Toblerone chocolate bars originated in Berne, Switzerland, whose symbol is the bear.

See the " 31" embedded in the " BR"? Thirty one-derful flavors!

Northwest Airlines. The circle is a compass. The arrow in the upper left corner is pointing..?

See the gorilla and lioness (in white) facing each other?

The smiley half face is also a 'g".