Archive for: June, 2023

When to Prefer Non Directional Trading Strategies Over the Directional Type

Jun 05 2023 Published by admin under Uncategorized

Basically, trading strategies are classified into two types, the directional and the non directional trading strategies. The former is mostly used by beginners as well as experienced traders since it is easier to understand.

Moreover, it can be used in all types of financial tools such as currencies, stocks, futures, options, etc. It is also a lot simpler and requires very little technical skills and automation. It makes use of traditional trading policies that has been widely accepted by many traders already. It is best used when traders intend to take long or short positions in the financial market. Should this be the case with the directional trading strategies, what then are non direction trading strategies for?

The present economic meltdown has given a great blow to the directional trading strategies. It proved to traders that the market’s price movement do not go in one direction only and is therefore unpredictable. This brought about the useful role of non directional trading strategies that are quite perfect when trading during recessions where price movement is very unstable and impossible to forecast.

Also, it provides a much lesser risk to traders as compared to the other type since it makes use of very sophisticated systems that require calculated diversification and state-of-the-art automation. This type is best used by big time traders who put in a huge amount of capital when opening and closing positions or buying or selling currencies. Careful use of non direction trading strategies coupled with good timing can mean a great opportunity to earn big profits in the forex market despite the present economic situation.

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Roland Electronics – A Case for Multi-Channel Marketing

Jun 04 2023 Published by admin under Uncategorized

The Problem
Roland Electronics, based out of Miami Florida, was established in 1984 as a low cost distributor of television and audio visual equipment. Their revenue grew steadily to $15 Million in 5 years, and doubled to $30 Million by 2004 with the growth of their online store. However, over the last years revenue has been on a slow decline, causing Roland like many other firms in the US to downsize. The economic climate and drops in consumer confidence affected the company. 

The Solution
Roland hired a marketing firm in Florida to try to figure out the issue. The marketing analysts discovered that revenue streams had become too dependent on repeat business. Their competitors had gained speed in marketing and taken a lot of the new business by having much more robust and aggressive marketing campaigns. 

A comprehensive customer acquisition campaign was established. This campaign included direct mail, events, social media and online affiliate marketing. The campaigns were run in tandem over a two year period. The marketing firm dropped affiliate marketing after the first year and zeroed in on direct mail and social media, as it proved to be the most effective.

Business Results
After two years of running the campaigns, Roland experienced an increase of 34% in new business revenue. 5,350 customers were acquired who are now producing the company an additional $8.5 Million in revenue. Direct mail alone produced 85% of the new business, while social media was used to compliment the offline campaigns. 

This effective use both traditional direct mail and new online marketing techniques proved to be effective for Roland. A recent study by Columbia Business School reaffirms these results, stating that multi-channel marketing campaigns increase ROI over traditional single-channel marketing by over 35%.

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Direct Mail is a Powerful Tool in Ebook Marketing!

Jun 03 2023 Published by admin under Uncategorized

E-Book Marketing is an essential element for survival on internet. In my next article, I will cover back link strategies, web site marketing and marketing as well as moving on to the next topic of e-commerce. A few changes in your marketing strategy can increase response by huge numbers. Either you will quit marketing or buy a next get-rich-quick marketing plan.

City recycling programs should learn from this and use direct mail and direct marketing to promote these wonderful programs.

Direct mail is a powerful tool in online marketing. Because of multi level marketing aspect, when you bring someone else into your business, they occupy a position in your organization on first level of marketers. If your direct marketing response opportunity is too high, you will be in for both discontent and low attendance.

You can be successful in the music business if you change your marketing model from analog to digital. Contact your Direct Marketing Association for a list of approved suppliers. Now, when you need to send marketing emails in the future, you know that you will be sending the right mix of content and images that will attract most clicks through and eventually more sales. In the rush to “get something on the web”, too many companies have forgotten to pay attention to developing sound underlying marketing strategy.

There is a bad name associated with MLM or network marketing systems. For the dishonest method adopted by MLM recruiters, watch out for these words – Helps, May, Possibly, Improved, Up to, Almost, About, Approximately and Probably.

The biggest challenge with word choice in marketing comes when a billion-dollar corporation wants to translate just the right English word into perfect equivalent in another language. I personally have met people who are earning $5,000 to $50,000 per month from network marketing for part-time effort.

By selecting products within the same grouping, you can give your customers more choice to choose from, and you can group two or more products in a bundle for endorsement or marketing activities and thus get more sales on each transaction.

Advertising is not just marketing. Your resources might include your sales force, marketing team, managerial staff, accounting department, budget and even your day-to-day cash flow. First, we need to clarify what we want to gain as a result of our marketing efforts. We can see billions of dollars being spent on website development, SEO and online marketing by various businesses across the world.

Now that, just because you select a particular group of people as target audience, it does not mean that you can’t help others who may come to you.

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Market Research Made Easy

Jun 02 2023 Published by admin under Uncategorized

It is important when starting a business to identify your target market and the best way to do this is to carry out market research. When carrying out market research to find your ideal target market you will need to do background and demographic research. This is important because your marketing activities, including the appearance of your brand, should be targeted in order to be effective.

If you do not have your market clearly defined then you may be spending money in any number of directions with little or no positive effect on your overall revenue and profitability. For those who are starting a business, especially one that is on a tight budget, doing effective market research in order to determine the correct target market is of utmost importance and can save money in the long run.

In addition to identifying the broad market focus, it is also important to identify several small niche markets as well. This market segmentation can help businesses to develop laser-targeted and effective means of communicating with the potential customers in the different market segments. If a business can properly identify its target customers or clients they can then spend their time and resources on perfecting various means of marketing. This is the direction that every business should take to identifying and servicing a specific market group.

There are many ways that this research can be carried out. Two of the primary methods that have been perennial favourites are direct mail and phone surveys. Phone surveys have become much more complicated in recent years due to the crackdown on telemarketing calls and phone privacy laws coming into being. Direct mail has different drawbacks, mostly because of the higher costs and diminished response rates that most direct mail typically achieves. The internet has become the dominant resource for conducting research in this day and age. It is possible to conduct surveys with the various online resources that are available, for example SurveyMonkey. With this tool, you can effortlessly conduct surveys to help with your market research and decision-making.

Regardless of the form of research that is carried out to determine your target market segments, the research must be done so that marketing in the future can be successfully planned out and implemented for maximum profitability to the business. The characteristics of your target market will dictate your whole brand identity and approach to selling your products or services.

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Enhancing Customer Relationships Through Trigger Marketing

Jun 01 2023 Published by admin under Uncategorized

Consider the following scenarios:

  1. Any salesperson knows a lead has to be nurtured. Why? Because most everyone you initially speak to is not ready to buy. There are various steps a prospect must go through before purchasing. Would you throw out the “non-purchasing” leads? This allows the salesperson to “work the lead” gathering information, follow up calls and/or visits culminating in a purchase. Equally important, prospects are handled differently based on their specific requirements and actions. Some will need additional information, others a call back in “x” days.
  2. Now think about the traditional marketing process. A direct marketing program is executed generating sales from responders. Often the marketing department plans the next marketing campaign for another target audience. Or, in some cases, non responders from the past program are re-solicited with another campaign.

The two scenarios are diametrically opposed. The second scenario represents “lost opportunity” in sales dollars by not nurturing the “non-purchasers”.

Historically, it would be a manual process of developing various queries through the IT department identifying each “group” based on their pre-determined marketing “actions”. The marketing department would take the data and coordinate with external printers or email providers to launch the targeted message to those groups. Secondly, you would incur minimum production costs. It would be financially prohibitive to launch one piece of communication. Finally, the logistics of tracking and analyzing responses would be a manual process requiring another request into the IT department. All but the largest companies, having ample financial resources and time, could develop this type of sophisticated marketing program.

Now, you can. Recently, I came across a company specializing in, what I call trigger marketing. What is a “trigger”? It is a responder’s action (or lack of action) such as:

  • A request for information by telephone
  • Filling out a web form and requesting specific information
  • Responding to an email via a web form requesting follow up in a specific time period
  • Making a purchase
  • Filling out their birthday for special announcements
  • Not making a purchase in a specified time period
  • Making a particular type of purchase indicating a particular preference encouraging cross and up selling opportunity
  • Requesting a follow up phone call

The company targets small to mid size corporations. Their platform, called “Smart Tracks”, automates the sales and marketing process through the development of specific “touches”. What is a “touch”? Simply, it is a series of emails, phone calls or direct mail pieces sent to an individual contact at a predetermined time. It is an Outbound Communication compared to an Inbound Inquiry. You create a series of Touches in Smart Tracks using personalized post cards, emails and business letters. You assemble the series of Touches in a Track and the Track is assigned to a Campaign.

Campaigns are set up with all pre-defined collateral (i.e. emails, direct mail, web form(s)) along with rules determining which prospects receive which series of “touches” based on their “triggers”. Once the rules and budgets are established, the marketing campaign is on auto pilot. It starts and stops based on the your predetermined instructions and budget. Responses are collected within the same platform facilitating response analysis and ROI.

The software integrates with your website. Specialized web forms can be created to collect specific information from a campaign’s visitors. Based on the selection(s) through the web form, (they will be stored in the internal database), the prospect will be funneled into a particular track based on pre-defined rules.

Another technical feature is something called Variable Data Printing (VDP). This is a high tech printing, (email or print), feature allowing any collected data element change the message for each recipient. Why is this valuable? Because response rate increase when communication is personalized to the individual receiving it. Examples include:

  • Changing the name and address
  • Changing images
  • Changing promotional offers

What is especially cost effective is that the software will execute (on demand) one response or 1000′s of responses. Smart Tracks is customer relationship marketing at its best.

In an earlier post, “Your Marketing Database”, I discussed the importance of a database in collecting and storing information about your company’s prospects and customers. Your database along with Smart Tracks goes to the heart of customer relationship marketing. Customers will generate the greatest return on investment (ROI). Therefore, focus your marketing dollars on your customers and highly qualified prospect leads that require nurturing.

Think of the possibilities using Smart Tracks:

  • Develop a campaign to cross sell customers after they make purchases. Specific products are tailored to customers based on their specific purchase. Based on specific customer triggers, automated communication is emailed or mailed.
  • Sales executives can automate their follow up communication with a series of touches to each qualified lead to increase their closing ratio.
  • Birthday announcements can be tailored to each specific announcement. For example, a picture of women’s clothing can be included in one announcement, and men’s clothing in another based on gender (The gender would have to be a data element stored in the database).
  • Special loyalty promotions with different promotional offers can be sent based on the customer’s historical purchasing behavior.

In the May 4, 2009 issue of DM News an article entitled “Mining for (data) gold” discussed the increasing importance of well maintained in-house customer and prospect databases. Mr. Jonathan Marguilies, of the Winterberry Research Group stated that non-targeted, saturation and “spray and pray” type mailings were declining.

He went on to state:

Where we’re not seeing declines is in data-driven, impactful, relevant communication. The channel that continues to drive and be positioned for growth is personal, digitally produced, variable content around creative offers – the true one-to-one communications.

In short, just the type of marketing communications Smart Tracks produces. The software is not for the non-marketer. It is available through authorized Smart Tracks agents. Additional information about Smart Tracks and how it can help your company is available on my website’s CRM page.

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