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Especially in a global economy that is becoming flatter and more competitive by the day, skimping on marketing is not the way to save money, because you’ll quickly find yourself out-publicized and out-advertised by the competition. At RME, we actually used marketing risk as a competitive edge.
Nobody wants an email inbox clogged with general promotional emails, for example, or a Facebook newsfeed dominated by gratuitous updates to your company’s page… much less a breach in personal privacy! You’d be much better served to use what you know about your customers to create highly targeted and personalized directmarketing campaigns.
Sub in new technology, a bigger store, a larger advertising budget, and on and on, for those two pennies and you get excuses made by struggling entrepreneurs everywhere. In 1983 he cofounded Direct Mail Express (DME) in Daytona Beach, Florida, with his siblings Mike and Kathy.
Some years ago smart marketers latched onto the idea of something they referred to as integrated marketing. The idea behind this concept was to make all aspects of marketing such as advertising, sales promotion, public relations, and directmarketing work together as a single force, rather than allowing each to work as a stand alone.
However, calculating this for a brand marketer like Tide is very different than for a leadgenerator like Lending Tree. For the most sophisticated brand marketers, this is accomplished through Marketing Mix Modeling where they can directionally attribute a dollar spent to the short-term return in sales.
Or maybe you offered an online deal to new customers, only to realize that the discount you advertised was a little too generous and wouldn’t allow you to make any profits. Your one-time marketing failure has convinced you not to try again. Yes, marketing is far from certain.
As a marketer, you want to get the most out of all the channels available to you. They’re important for networking, brand building, and leadgeneration. You set up meetings with potential partners, customers, and dormant leads who finally seem ready to take the plunge. Here’s what they advertised-.
So I think that the big, big thing that people really get wrong about social media, and this is the real impetus behind why I created this book is that people mistake… They think that social media is a tool for what we call directmarketing and not really for brand marketing. So I think of direct sales.
I began placing advertisements on the website. Would you be interested in advertising on my website?” and I got a handful of advertisers who said yes. I still made money from advertising that went on the website. I then went and found a university student who was interested in internet marketing.
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