Allen Ford Inc
We provide invaluable services to companies around the world.
How I Approach Your Work:
40% inspiration + 40% perspiration + 20% caffeine.
Wait, you mean people will pay me to design cool graphics and write witty taglines while listening to loud music as I sip on a hot latte with a runny butter tart on the plate beside me? Sign me up!
Seriously, thanks for the opportunity. No, I am not playing in the NHL, but I think I got a pretty sweet gig going on here all the same.
Digital marketing refers to marketing goods and services through digital portals or mediums. Thanks to the modern era, everything and anything you want to buy is just one click away. Digital advertising has changed the views of traditional methods of marketing a product. With more people becoming technology friendly, the number of advertisements is reported to be viewed from online. Even before watching a YouTube channel, advertisements have to be watched, and some advertisements cannot be skipped even. Social Medias are a powerful channel through which marketing is carried out.
Advantages of digital marketing.
1) 24/7 availability:
One of the advantages of digital marketing is that the services are available any time of the day. Time zones do not matter here. Even if you have to travel to another Country, the online marketing services are available any time. The Customer can read reviews before purchasing a product. They can give their positive as well as negative feedbacks as well.
2) Customize products:
The feature of customizing a product according to the whims and fancies of the customer makes this scheme more attractive.
3) Social Media’s:
As mentioned earlier, Social Media is a powerful channel for advertising products. Favourite products that get shared by one consumer is viewed by many others. For example, if a person on Instagram, decides to blog on food. If she/ he blogs about the food eaten from his/her favourite restaurant, then indirectly that restaurant is promoted and might get more visitors. Similarly, there are options to rate your favourite clothing brands or food outlets; this makes the online viewers more aware of the different options they have available. Facebook and YouTube have more than 128 million users together. With the spread of modern technology everywhere, digitalization is a future.
4) Target customers in real time:
The advantage of digital marketing is that you get to know your customers very well. The type of customers, their age, taste and preference can all be recorded in real time. Using offline mediums, it is not possible to know your target audience.
5) Cost effective:
Digital marketing is anyhow cheaper than offline methods. In online marketing, it is possible to contact your customers any time of the day. Once an advertisement is made, it remains right there for a long time, at least till the owner wishes to take it off or unless the product gets replaces by a new product. In case of newspapers, for example, advertising cost would be very high and would vary according to the priority of the page you want to showcase your add. It is not necessary that a particular person who would need that product should see the advertisement at that time. It is difficult to store the advertisement for a later need also. Through online methods, you can even check the availability of the product at a later stage,
A strategy refers to the execution of a plan. A good strategy is when the plan is executed very well. Now in every company, if you see, strategies would be created at the management level and the company level. Every organization would plan on making an objective first. Then they would create strategies to work for the set goals or objectives. Every firm would want to advertise their products and maximize profits. Ever company creates strategies against competitors as well. Marketing refers to the promotion and advertisement of the company’s sales to increase sales.
Narrow and broad coverage strategies.
If a company offers many products targeted over very few customers, then they follow broad coverage strategies. Example, Nestle product has a wide variety of products such as chocolates, drinks, noodles, healthy mix, etc. They face competition as they are not a monopoly firm. They come up with broad coverage strategies to deal with completion and market their products within the narrow range of customers. Now, consider a company such as Gillett. They offer only two products, razors for men and women. So, they have to advertise their few customized product to a wider group of people. Since there is a monopoly here, they do not face stiff competition. They adopt narrow coverage strategy to market their product. Here, the advertising costs would be much lower compared to broad coverage strategies.
Budget is a set of financial statements consisting of proposed income and expenditure. A well-planned budget is a start to a good strategy. Always ensure that the proposed expenditure does not exceed the income. Plan all your expenses well in advance before you execute the strategy. Set aside a small amount for unforeseen situations such as risk. This cost should also be included in your budget.
Investments are a major source of income for the firm. The returns on investments would be based on how well the firm earns and makes profits. Good marketing strategies attract investors to the firm.
The most effective investment strategy for your firm is to go by the decision tree approach. Here, investment refers to your firm investing in resources. Here, it is first important to set an objective or goal on why your firm wants to invest. Secondly, plan options and back up plans for the very decision you make. Evaluate the outcome of the various option decisions. Consider the risk factor also while you make decisions.
SWOT analysis is yet another effective marketing strategy that helps you make decisions. SWOT analysis is done before any major decision making. It refers to strengths, weakness, opportunities and threats. All the four aspects are weighed and valued one by one. If the SWOT analysis gives a green signal, then that means it is safe to proceed with the particular plan.
“We know how difficult it is to run a business and that is why we make sure that others do not face those difficulties. We are a team of promising business people, who have great experience and expertise in our respective fields and we are ready to offer that for the betterment of your business.”
They provide excellent services and they make sure that we always make better profits.
Thanks a lot to Allen Ford. They helped me take my business to yet another level.