Understanding the Difference Between Marketing and Promotion

Are you an online marketer? Or do you simply promote affiliate programs? Marketing is truly the most misunderstood word in use today on the Internet. Let me see if I can clarify this issue just a bit.

In Marketing 101 at your local university, marketing is actually the process of Product, Place, Price and Promotion.

PRODUCT

No business can exist without a product or service to sell.

In a nutshell, entrepreneurs are the people who believe in a product, service or idea, so much that they are willing to invest their lives into the development of their dream.

Historically, every major corporation in the world was started by an entrepreneur with a dream and the drive to make it a reality.

However, there comes a time in the life of every corporation when those who fear the gambling nature of their founder, squash the entrepreneurial drive that made the company a viable concern in the first place. The entrepreneur will either submit to the careful nature of the stockholders, or he will be forced to leave the company he created.

The only entrepreneurs who withstand the pressure to move more carefully are those who have maintained majority control over their companies.

PLACE

In the offline world, place is defined by location. On the Internet, place is defined by domain name and the web hosting service chosen.

Both online and offline, place can make or break a company without respect to the quality and value of the product, service or idea.

PRICE

Selecting a price is determined first on a basis of whether the company wants to be seen as a discount or a value company.

Take for example Wal-Mart and Staples.

Wal-Mart is the lead discounter in the marketplace. Staples on the other hand is the specialist in office supplies.

Both sell a significant number of office supplies despite the fact that the lowest price can usually be found at Wal-Mart. As a value dealer, Staples can afford to charge more for their products than Wal-Mart.

So the question for you is whether you want to position your company as a discount or value company.

Testing has shown that products and services can be sold at any number of prices and still reach a significant number of people.

The challenge of selecting the best price for your product or service will require a certain amount of testing.

UNDERSTANDING THE PRICING EQUATION

Let’s assume we are selling a product. Let us also assume that we know that the product can be sold for $10 or $50. Let us also assume that if the price dips below $10 or rises above $50, then the product sales fall off significantly.

Our challenge is to determine the best rate at which to sell our product.

Testing has shown us that we can sell 1000 items a week at $10. Testing has also shown that we can sell 500 items per week at $50. And testing has shown that we can sell 650 items per week at $45.

At $10, our projected weekly earnings are $10,000. When we sell the product at $50, we know that we can earn $25,000 per week. Most importantly, we know that we can earn $29,250 when our product is priced at $45.

With the imaginary testing we have done on our imaginary product, we can easily see that selling our product at $45 per item will earn us more money over the long haul.

Thus, when we make the decision for a national rollout of our product, then we will price our product at $45.

Of course, this is a very simplistic analysis of the point I am trying to make. Though simple, I believe this analogy will help you understand the methods of developing a product’s prices.

PROMOTION

Promotion, on the other hand, is the process of notifying the consumers for your product or service of your availability to serve them.

Methods of promotion vary distinctly and should be arranged to meet very specific goals.

As with product, place and price, promotion should not be left to chance. You should test every ad, every media, and every price point to determine the best bang for your promotional dollars.

HEADS UP!

If you are an online promoter or marketer, please factor in the most important element concerning the cost of your promotions.

What element is that? Your time!

Value your time at a certain dollar amount, and figure in your time into the cost of your promotional accounting.

I say this because too many online promoters lose sight of this concept and spend 20 hours to generate one sale while using free advertising. Even if you rate your time at the federal minimum wage, then you will have invested $105 of your time for one sale that might only net you a gross sale of $45!

ARE YOU TRULY A MARKETER OR ARE YOU JUST A PROMOTER?

Most people who run a business on the Internet call themselves marketers. Yet, most of these same people are really just promoters wrapped in the label of a marketer.

True marketers do not promote without a lot of advance work. They spend time planning, testing and measuring their actions and results to get the most out of every dollar spent and earned.

Entrepreneurs finesse the art of marketing as they build their company into a major enterprise.

If you are a promoter who does not keep an eye on the total marketing equation, then you are bound to fail.

If you do call yourself a marketer, then do what a professional marketer does. Make sure that every dollar spent is spent well. Make sure that every dollar earned is put to good use. Market well so that when the people of the next generation look at your life, they will see a fine example of a successful entrepreneur that they will strive to emulate.

SaleHoo Gives Sellers More Time to Focus on What Matters – Marketing and Promotions

Try keying in the words ‘wholesale’, ‘dropshipping’ or ‘online directories’ using any search engine over the internet and it will give you thousands of returns including links to SaleHoo. SaleHoo is a one stop online resource which is all you will ever need to get ahead in the industry of online selling. It will provide you with learning resources on marketing and promotions. It will also provide you a comprehensive listing of legitimate wholesale dropshipping companies, suppliers and manufacturers. You will also get to read firsthand feedback from actual users of SaleHoo. You will be surprised with the endless list of top quality products you can sell your customers.

All suppliers and manufacturers in SaleHoo’s listing undergo a strict screening process prior to listing them to ensure legitimacy and reliability of their suppliers. SaleHoo has always been committed to sticking to its rules and requirements when it comes to updating their list of suppliers, this way, only the legitimate and credible suppliers are the ones who pass their screening process. On the other hand, wholesale dropshipping has been one of the top services that SaleHoo offers which is now in demand from most sellers I know. In wholesale dropshipping, a retailer simply orders the products in bulk based on the orders they get from their customers, the wholesale dropshipper then takes care of shipping the products right to the doorstep of the buying customers. This leaves the sellers nothing else to worry about but marketing and promotions.

Of course, the sellers need to be extra cautious about finding the perfect wholesale dropshipper for their online business. Of course, SaleHoo ensures that you will only choose from legitimate wholesale dropshippers from their list but you will have to find the best one that will work for your business out of more than 8,500 companies listed. Take the time to ensure you are getting top quality products, compare what other suppliers have to offer so you will end up with the best items. SaleHoo’s suppliers’ list gets updated regularly, this way, you eliminate the risk of ever ending up with a fraudulent supplier or a company that has long been out of business. With SaleHoo, you automatically protect yourself from scams. SaleHoo has a twenty four seven availability for member support, their site should be easy to use as it has easy to navigate links and resources. Should you experience any technical difficulty with SaleHoo, there is a technical team on standby to immediately assist you, the technical team has been competently trained to provide assistance in the most professional and friendly manner. It should be no problem to have your quick questions answered real time via their site or via any of their live forums.

Internet Marketing and Promotion on the Cheap

Marketing and promotion are vital for online success. Whether you’ve built an online store, have an online services website or dabble in affiliate marketing you need to continually promote your site in order to steadily increase traffic and income.

This article discusses the various ways to do this without spending a fortune on pay per click campaigns and expensive advertising. Spending a bit of time and effort can go a long way in helping you improve your organic search engine results, get more traffic and make more sales. You can do it for free or for really cheap.

Search Engine Optimization

SEO is important for any business. Whether you’re a blogger or an internet marketer or running an online store you need to optimize your site so that people and search engines will find you. The good news is that many cheap and free marketing methods not only bring people to your site but bring search engines as well which bring more people. SEO gone viral is key and many of the below methods will do that for you.

Do something to promote your site every day if you can. Even a few minutes spent on social marketing and bookmarking can pay big dividends.

Free Web Traffic Analysis

Free tools like Google Analytics can help you figure out where your traffic is coming from so you can continue to drive traffic up. Using free traffic tools are definitely helpful and there are many tools available. Consider also setting up Google Alerts so you’re notified every time your website gets indexed. This can help you see how your efforts are doing.

Most web hosts offer you free analysis tools as well so check them on a regular basis for building on the success you already have.

Content

Continuously put content on your website. Every time you update your site the search engines will crawl your pages and further index you for your targeted keywords. Even once you hit your target goal of getting traffic, making money and top results in the search engines you’ll need to continue to update your site. Static sites will eventually disappear off the first page of Google and Yahoo results.

Pick a handful of key phrases (there are loads of free online tools to help you find keywords) and write an article for each keyword. Optimize your content with those keywords.

Get the keyword in the title, in the first paragraph and in the last paragraph. Go for long tail keywords and sprinkle related or synonym key phrases into your content as well. A great tip is to add a blog to your website. Every blog post can bring people and search engines to you. Visit other blogs and link back to your own blog (without spamming) as this can help you increase your own blog’s readership as well as improve search engine optimization.

Article Marketing

Take some of those articles you’re planning to put on your site or your blog and rewrite them with new titles and different wording and add them to the article directories like EzineArticles.com. This can bring you search engine and human traffic and the great thing here is that article directories allow free reprints if people keep your resource box in tact.

Your article’s resource box should contain anchored keywords that will increase your search engine optimization efforts but the real benefit of an article with a well written resource box are the reprints it will get from other webmasters, meaning your article will be read by ten times as many people while also bringing many more links to your site.

Social Bookmarking

Social bookmarking is the perfect way to get more traffic. Sites like Digg, StumbleUpon, Delicious, Yahoo Buzz and others are free channels for getting free traffic. These results bring in both search engine traffic and human traffic.

If you’re blogging, use services that update URLS every time you post a new entry. Many services are available such as like MyBlogLog, Blog Catalog, FriendFeed and others. You can also bring in traffic when you write a new blog post, Squidoo Lens or Hub Page by microblogging on sites like Twitter, Tumblr and Plurk.

Speaking of Lenses and Hubs, consider spinning your article again by putting it on one of these sites with links to your main site and affiliate links as well. These sites are free and can be monetized with Google AdSense, ClickBank, Amazon and contextual link advertising.

Community Forums

Community forums are another ideal platform for marketing on the cheap. Many offer free or low cost advertising in their market place but what’s more is you can add your URL to your forum signature line which equates to a free link pointing to your website for every forum post you make. If you’re a prolific poster this can translate to great SEO results for you.

Free Classified Sites

Lastly, don’t forget the free classified site. These can be a great place to market your product. Some of them offer not only free but low cost paid advertising as well for home page placement.

So there you have it, site promotion doesn’t have to be expensive but it does require updating your site regularly and using free strategies like those mentioned above. It’s sound advice for bringing you more visitors and better organic search engine results …and that translates to success for you.

How to Write a Business Plan for Online Marketing and Promotion

Online marketing and promotion can be a great success if proper
planning is done in advance to ensure the effectiveness of your
online marketing and promotion activities. Without planning,
online marketing and promotion can be an enormous waste of both
time and money. Business plans and marketing plans are crucial
for the effective operation and ultimate prosperity of any
business.

There are four main sections to a business plan. First is a
thorough description of the business. Next is the marketing
section which actually lines out your plan for online marketing
and promotion. The third section is the financial section where
you plan for financing your business and project your income,
expenses, assets and liabilities. The fourth section of a
business plan generally describes how the business will be
managed and may include policies and procedures in a very
detailed business plan.

The sections of a business plan may be arranged in a different
manner from what is described here, but for the most part, these
are the four main sections of a business plan. An executive
summary is often placed at the beginning of a business plan to
briefly highlight the plan’s main content. Appendices may also be
used to present supplemental information such as past financial
statements and resumes for the key personnel in the business.

Business plans serve many purposes. Often they are used (and
sometimes even required) to get bank financing for the business.
They can be used to attract partners and investors as well.
Perhaps the most important purpose of a business plan; however,
is to guide your operations and to keep your business activities
focused so you can achieve the goals set forth in your business
plan. The marketing section of the plan gives you a guide for you
online marketing and promotion activities. Defined milestones and
a budget for online marketing and promotion are crucial to
launching and operating a productive and beneficial marketing
campaign.

There is one fatal error that business owners repeatedly make
when it comes to their business and marketing plans. That is,
they put their heart and soul in to preparing a business and
marketing plan that carefully considers all aspects of the
business, clearly defines the intentions for the online marketing
and promotion of the business, and sets a practical budget for
the business. Then, unfortunately, many business owners sit their
incredibly meticulous business plan on a shelf and never refer to
it. They strike out on their own, without the benefit of the
actual plan for their business.

When this happens, it is highly likely that they will get off
track with their business and with their online marketing and
promotion. They will not be using their guide and they will spend
money frivolously, especially for online marketing and promotion,
and their goals will not be realized, their budgets won’t be
adhered to, and their income projections will not be met. This is
a tragic situation that should always be avoided.

A business and marketing plan that is actually used to guide your
day to day business activities, including your online marketing
and promotion, can actually set you apart from the competition as
well as making it easier to achieve your goals, to have a
profitable business, and to grow the business substantially.
Whether you prepare your own business and marketing plan, or hire
a professional business or marketing consultant to prepare your
plan for you, you definitely need to engage in business planning.
Without a doubt, a well planned online marketing and promotion
program will increase the odds of an online venture becoming a
flourishing and rewarding business.

Marketing and Promoting Online Information Products for Huge Profits

A product that is created from scratch, this being a physical item, or a software program, or a simple e-book is definitely not the simplest path to earning income online. You can do a lot better by marketing or promoting online information products allowing you very often, to improve their promotional marketing to make big profits on the Internet.

You can simply promote existing information products, modifying the marketing to suit your customers’ needs. There are also, lots of online information products available, that you can affiliate for their owners who, very often, help you to promote and market them. For these, you do not need anything else as regards marketing, because they provide you with all the tools necessary for their efficient promotion.

In return, you get commissions for the actions that your customers perform. These being simple opt-ins, postal codes, telephone numbers and addresses, or purchases of course, for which you can get up to 75% commissions or sometimes even 100% commissions! Get a few promotions going and with good conversions, your earnings quickly increment to a very good monthly figure.

The whole process of creating products is a complex one when you do them yourself and when you pass this work to others, it can also be a nerve racking process, since you need to first of all know what the whole system is about and then to pass on your instructions correctly to the people you employ to get it done. There will be fear for unfinished work, you have to give deadline schedules, have constant watch in what they are doing and how they are achieving what you want.

All that is definitely a lot of work, much harder than using what is known as outsourcing, by which you can get things done a lot quicker and quite cheaply too. Just type in any of the mayor search engines: “outsourcing” or better “10 best outsourcing websites” and you will be provided with what you want. There are so many you can use, Elance, Virtual employee, Fivver, oDesk and so on.

Fine tuning your marketing, that is, aligning your prospects with the products they are after, so that their needs or problems get solved, is the best way to maximise your earning potential. This is what at first you can concentrate on. Later on, when your marketing is bringing you good revenue, you may consider going into making your own information products.

This need not be an intimidating task. You can simply put together 3 or 4 articles about a subject that you know there is sufficient demand, and that you may have written already, and bang them together into an e-book explaining what it can do and how it solves any particular problem your customers in that niche have… and there you have your first information product.

If you go into information products of your own, your revenue will increase considerably. You then go into getting full profits for yourself, in addition to the commissions you earn from selling other peoples’ material. Even when you get proficient at making information programs, you will want to continue marketing and promoting existing work that is relevant to your niche, and to your customer’s needs of course.

But how do you actually make information products yourself? Well, this could go into a long article and so the simplified method is to start with finding out exactly what bothers your customers. Get to know their fears, frustrations, desires, needs and wants and then concentrate on the “most important need”, and fine tune your solution to solve that need.

Resolve that need into actionable steps that your customers can follow to solve their problems, or reach their goals. Show them how to apply your method to solve that need, whatever it may be. Aim to connect every part of your solution, to your customers’ needs so that the prospect feels helped and finds his problem solved. This way, you achieve total alignment between the outline of your product and the outline of your customer’s needs.

There are many steps needed for making information products of course, but out of all these, if you concentrate in that specific alignment mentioned before, your ideas will be concentrated in that solution, which is the required outcome: to make your customers happy. And when this happens, your business online will be producing greater results and higher profits.

German Calvo