Internet Marketing – Business Objectives and Priorities

Business Objectives and Priorities Must Drive Marketing Strategies

Part of Annex Media’s article series to help business leaders and entrepreneurs apply the most efficient and effective use of their marketing budgets.

I’ve heard business owners speak of the search engines and SEO as something they’re scared of or liken it to a Casino as a good way to lose money. Well, you shouldn’t be scared of internet marketing using pay-per-click marketing on engines like Google nor should you be gambling with your marketing budget.

Define Business Objectives First, Then Begin Advertising

Let’s first separate marketing from advertising. To me, the act of advertising is placing ads and is but a tactic in executing a marketing strategy. The precursor to any marketing, though, is to define business objectives, and goals. The business model and goals must drive marketing research, analysis and turning that knowledge into executable actions.

Business Driver One – Be Profitable

Let’s face it; the ambition of most businesses is to make money – to drive profitable revenue. With that overarching goal, your marketing plans should obviously consider your target market and reconcile it with customer and product/service profitability.

Business Opportunities and Marketing Allocation – An Example Simplified Case Facts:
• An alternative health centre (AHC) offers four different main services – A, B, C, D.
• The business owner and marketing manager launch Google PPC marketing and are having some success.
• A campaign is running and the daily budget is set at $100.
• On average, the budget reaches its daily maximum before the day ends and thus is receiving ¾ of potential clicks for the day.
• After costs, it is determined that the business is just breaking even.

What are the key questions? [Go ahead and list some of your own before reading on].

• What is the revenue “opportunity” based on the center running at capacity (fully booked)?
• What is your current capacity utilization?
• Which service type is most lucrative?
• Who are your best/target customers and where do your customers come from?
• How much your competitors charge and what is the competitive environment?

All these questions beg answers that will add up to create a formula for a marketing strategy.

In this case:
– The revenue opportunity is measured as hours of operation (which can be changed) x revenue potential per hour X operating days per year.
– It is discovered that current centre utilization is 25%. Tremendous capacity remains.
– Services A and C are equally profitable, B is less profitable and D is the least profitable.
– Customers are typically female (85%), relatively affluent and between 20-40 years of age. They come from as far away as 40 kilometres with most coming from within the city.
– Competitors charge 20% more. The competitive environment is “medium” intensity. There are only 2 competitors within the city, but none offer all four services. They’re more “clinical” whereas this Centre provides more of a spa experience with inviting reception (couches, library resource centre, complementary coffee/tea).

You might glean that there are immediate opportunities for AHC. Besides effectively marketing the differentiation (spa environment and price), what can AHC immediately do to more effectively leverage marketing budget?

We have defined that services A and C are most lucrative and thus most, if not all the marketing spend should be allocated to these offerings? All of it? Well, we should aim to exhaust sales of the most lucrative services and only once they reach full utilization (which boosts profitability) should we then spend a single dollar on the less lucrative services. As budget is running out in the middle of the day, should we up the budget? Absolutely IF it is proving out – and trust the numbers – that you are growing profitably. In fact, budgets should keep going out as long as there is a measured return on marketing investment (ROMI).

Also, our quick assessment tells us that offering a superior environment (spa/lounge/coffee perks) to an affluent female target may also tell us that AHC’s lower price may in fact be detrimental to its brand and the projection of the quality of their services. This customer base, in fact, may be quite willing to pay much more for the service. These are important questions for business owners to consider.

Of course, this is just a “snapshot” case but it does provide some important considerations for leaders of any business or organization. Whether you’re looking to boost registrations, memberships or sell products via an ecommerce website leveraging internet marketing can drive you to new heights of success.

Article Author: Carm Maesano, Managing Partner

To learn more about marketing strategy and how you can grow your business leveraging the internet and strategic marketing approaches, visit Annex Media’s website at http://www.AnnexMediaMarketing.com .

Article may be distributed with appropriate credits and links in place.

Copyright Annex Media Marketing, Inc.

Internet Marketing Workshop Mississauga Business Enterprise Centre SEO-SEM

2012-2013 Annex Media Business Strategy and Development

Business and internet marketing strategy consultant, Carm Maesano, will be the expert speaker at upcoming fall 2012 and winter 2013 seminars focused on business internet marketing. Seminars hosted by the Mississauga Business Enterprise Centre.

PRLog (Press Release) – August 1, 2012 – The Mississauga Business Enterprise Centre (MBEC) will host Internet Marketing workshops this upcoming fall and winter. This seminar series continues and is of value to business owners/entrepreneurs and company managers looking to extend business opportunities leveraging the internet.

Carm Maesano, Partner at Annex Media Marketing, will be the featured speaker. As an expert in the area of business and marketing strategy with extensive operations experience, Carm brings practical business experience and insights that connect with learners. This introductory session will help attendees filter and focus their thinking on how to approach their internet marketing efforts.

Primarily, the sessions will focus on search engine optimization approaches and the importance of effectively creating online marketing campaigns (PPC marketing) to achieve positive return on marketing investment. Ideally suited for those wanting to gain or grow their online visibility, the seminars highlight how the internet can be utilized to establish metrics and benchmark performance to ultimately grow business opportunities and revenue.

Gaining visibility on the internet should be a business imperative for any organization. With the vast majority of purchase decisions influenced by online search (if not transacted online), it is crucial that companies present their brands and messaging on the internet in a manner that drives conversions.

The two hour internet marketing seminars will cover topic that highlight the importance of market research and analysis, geo-targeting, particularly important for local or regional businesses, and strategies for prioritizing and allocating marketing budgets. The primary objective is to introduce search marketing, and how to manage opportunities and risks associated with online advertising.

Upcoming workshop dates and times are as follows (registration required through MBEC):

Fall 2012: October 30, 2012 Time: 6:30 – 8:30pm
Winter 2012: March 6, 2013 Time: 6:30 – 8:30pm

MBEC serves Mississauga and the western part of the Greater Toronto Area. MBEC is located
within Mississauga’s City Centre complex.

To learn more about business and marketing strategy and how you can grow your business leveraging the internet and strategic marketing approaches, visit Annex Media’s Learning Centre on their website at http://www.AnnexMediaMarketing.com.

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Annex Media Marketing provides business leadership consulting services on researching and implementing business strategies. Specializing on aligning business objectives with marketing tactics to increase lead generation and conversions.