Promotion and Marketing Buisness

There are two different meanings of "promotion" in marketing:

1. In the marketing mix 4P's, promotion refers to any form of marketing communications.
2. Promotion also refers to discounts and other special offers to increase sales.

Nowadays, there are many forms of promotional media. Some marketers also refer to them as "touch points," since they are every place where people encounter your brand. Here I'll describe a few in a Western context (which I know best). Effectiveness and popularity of these media — and even how they are used — vary from country to country, even neighborhood by neighborhood. In addition, what works for one industry or brand may not work for other industries and brands. This is simply to provide you with an idea of the options; it's imperative that you adapt the medium to what works best for your brand, your stakeholders, and your goals.

 I. Traditional Media

Most people are familiar with these options, which are mostly used for basic advertising.

• Television: Generally the most expensive medium, not only to buy, but also to produce.The advantage of television is that it still provides the largest possible audience condensed in a short time frame, so it is ideal if you need to create a high level of awareness and reach specific goals by a certain deadline. Ad agencies love TV commercials because they provide a lot of opportunities for creativity, and because they get a percentage of the media cost.
  
  
• Radio: This is a classic medium, but it's critical to understand how your customers are using it before you advertise on it. For example, this is a good way to reach drivers, though not if you expect them to act immediately (such as making a phone call or writing something down).
  
  
• Print: Newspapers and magazines are declining in popularity, but they still reach an educated audience, some of whom actually enjoy reading the ads. They are ideal if you have a lot to say, and you want a more targeted readership (particularly business-to-business). You can also include forms and coupons in print ads.
  
  
• Outdoor: This includes billboards, bus stops, posters and other out-of-home advertising. The purpose of outdoor advertising is to create awareness, because you usually do not have the time or space in outdoor media to communicate a lot of words. The effectiveness of outdoor advertising is also very difficult to measure. Some governments restrict outdoor advertising as "visual pollution."
  
  
• Promotional Literature: This includes brochures, business cards, and other printed materials. These may be referred to as "collateral."

 II. New Media

Considering that the first websites are nearly 20 years old, it's odd to refer to many of these media as "new." Some marketers prefer to call these options "digital media." There's a lot of excitement about new media, since consumers are spending a lot of time online, and the media are relatively inexpensive to produce. However, doing new media properly often requires a large investment of time, talent, even money. I'll introduce the most popular forms here, and will discuss social media more next week.

• Websites: A website can serve as promotion, place and even product. (Consider my website UAEMD website that a lot of people are using now.) Creating a website is easier and more affordable than ever, though some complex websites can still require millions of dollars and several months of high-skilled labor. The challenge with websites is that, even though they serve as a promotion, they usually need to be promoted themselves. You can't just build it and expect customers to find it.
  
  
• Search Engine Optimization: This is an ongoing practice to make your website more easily found and highly ranked by Google and other search engines. Since Google and other search engines keep their algorithms (the computational formulas they use) secret, SEO experts conduct a lot of experimentation to see what works. In addition, Google changes its algorithm continuously to ensure that the most useful sites rise to the top, and to prevent spammers from gaming the system. To successfully execute SEO, you need to continuously research what words and phrases (called "keywords") are being used by your potential customers and to include those keywords on your site; to make sure that your site is user-friendly, so that visitors spend a lot of time and visit a lot of pages on it; and most importantly, to entice other websites to link to you. Google evaluates the number of sites that link to you, and the "authority" (size and importance) of those sites. The number and value of those links affects how they rank your website.
  
  
• Search Engine Marketing: You can also buy ads on search engines, which usually appear at the top and down the right hand side of search results. These ads are also based on keywords. Marketers usually pay per click (PPC) for these ads.
  
  
• Banner Advertising: These are the small online ads you're familiar with. If you click them, they will take you to a destination site. Marketers can pay per click (PPC) or pay per 1000 views (CPM - the M stands for "mille"). The click-through rate on most banners ads is abysmally low — less than 0.5% — so the PPC rates are increasing while CPM rates are decreasing. Most consumers don't even notice banner ads anymore, and software exists to block them.
  
  
• E-mail Marketing: Nearly as old as the Internet itself, e-mail marketing has actually become more difficult as countries pass laws to block spam. (And, yet, we seem to get as much spam as ever.) A more legal and effective form of e-mail marketing is the e-newsletter, which enables the marketer to maintain touch with past and current customers, while providing news and offers.
  
  
• Videos: Videos will soon be as popular as photos on the Internet. They're more effective than banner ads in attracting attention and getting people to spend more time (what marketers refer to as "engagement"). However, the competition to get views on YouTube and other popular video sites is incredibly intensive, and often requires both a high level of creativity and the marketer to promote the video itself. Yes, your marketing needs to be marketed! Note: do not call these videos "viral videos" until they have gone viral, which most don't.
  
  
• Social Networks: You're probably familiar with social networking sites like Facebook, LinkedIn and Twitter, whose primary purpose is to help people build relationships with each other. Marketers can buy different forms of advertising on these sites. They can also create their own corporate profiles and try to build relationships with potential customers and provide service to current customers. The greatest marketing value of social networks is the opportunity to learn more about customers and, particularly, "influencers" who are popular and authoritative.
  
  
• Mobile: Marketing on smartphones is perhaps the fastest growing promotional category, since there are many more phones in use than computers, and people take their phones with them everywhere. Mobile marketing can take the form of basic on-screen advertising; dedicated websites; text (SMS) ads; location-based marketing (the marketer knows the user's GPS location, or the user registers that she is at a certain location, and therefore she receives a customized message or offer); apps; and other opportunities just now being created.

Written By Yasser Al Mimar ..

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ROI and Business Profit

Return on Investment (ROI) is arguably one of the most important tools, and ROI analysis (when applied correctly) is a powerful technique in making informed decisions.  However, we need to know what precisely is a return first in order to get the clear picture?  Firstly, I would say ROI analysis is a powerful tool for measuring the net financial benefits of an investment and is commonly used by business-oriented organization when evaluating where to spend their resources.

For instance, in the stock market it should has two components: the market value of the asset and the cash flow from it.  The two are intertwined; for example, an older bond with a coupon higher than would be offered by a similar bond today will see its market price go up.  

In fact, there are quite precise calculations to show this effect.  Nevertheless, if you hold a share or bond to maturity, you know what its value will be at maturity; it will be the par value and it is that which you will get back.  

Likewise, a share offering a good dividend will be valued, under normal circumstances, more than a share generating as much profit, but not distributing that profit partly by dividend.  It must be admitted, however, that some hi-tech companies even boast that they do not distribute dividend as there is so much potential for company growth in the future.

In the project ROI is a project’s net output (cost savings and/or new revenue that results from a project less the total project costs), divided by the project’s total inputs (total costs), and expressed as a percentage. The inputs are all of the project costs such as software, license, maintenance, programmers’ time, hardware, services and  training. Therefore if a project has an ROI of 100%, from this definition the cash benefits out of the project will be twice as great as the original investment. 

So apart of the bonds or stocks as individual investment, if we need to address the ROL to company or organization.  We need to answer this question; Should a manager invest a company’s money in an e-business project if it has a projected ROI of 100%? 

• The answer is: There are many factors one should consider when making an investment decision. These factors include, but are not limited to those listed below:
• The assumptions underlying the costs of the project
• The assumptions underlying the potential benefits
• The ability to measure and quantify the costs and benefits
• The risk that the project will not be completed on time and on budget and will not deliver the expected benefits
• The strategic context of the firm; that is, does the project fit with the corporate strategy?

Written by Yasser Al Mimar

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How to Hire a CIO

When you need to put your IT house in order, is a chief information officer the right hire?

When your IT department needs a clear-cut leader, it's natural to consider hiring a chief information officer. That's because the definition of the CIO position has shifted and gained prominence over the past decade as smaller, tech-centric companies opt for hiring a chief technologist with an executive-level title rather than just an IT director or vice president of technology.

As the head of IT, even the title CTO is falling out of fashion. Really, the two positions – CTO and CIO – are almost interchangeable in definition, though they mean very different things depending on what company you ask.

Hiring a CIO: What's in a Name?
The focus of a CTO, a position akin to and occasionally still referred to as "vice president of engineering," is typically to develop and implement new technologies. A CIO, in contrast, is predisposed to solve problems through researching and implementing ready-made technologies. A CTO generally works to develop new technology solutions. Where a CIO may, for example, manage in-house technology such as an IT department, a CTO's role is typically more outward-facing, according to Tom Berray, a managing partner at Cabot Consultants, an executive search firm based in Virginia.

"As a general rule, CIOs are more internally focused while CTOs are more focused on working on products for external clients," Berray says. "That said, there are nuances. Some companies have a CTO focused on operations under the CIO. Others have the CTO as the top person for technology at the company and the CIO reports to that person regarding internal systems."

In 2008, according to a study by CIO magazine called "State of the CIO," 60 percent of U.S. heads of their company's IT department surveyed had the title CIO. That's the highest percent in the survey's history. Comparatively, 11 percent had a VP title, and 4 percent were CTOs.

So, roles vary a bit – and so do actual titles. A vice president of engineering or a VP of technology is a CTO/CIO without the executive-level title – and, really, any technologist at the head of a large department performs a similar role. 

That's the case at San Francisco-based Ticketfly, the ticket-sales firm founded two years ago by Dan Teree and Andrew Dreskin. "In a start-up context, bands are formed sometimes by happenstance, and my head of engineering absolutely acts as the CTO," Teree says. "We are not big on titles here but make no mistake, he is the guy in charge."

So when is it time to add a CIO to your roster—or to dole out that exalted title? For tech-oriented start-ups, the answer might be from Day One. For existing companies, the moment you begin to have multiple lines of business and staff based in offices across different time zones, hiring a CIO to impose order can be a good move, Berray says.

Hiring a CIO: Define Your Needs  While it's true that any new employee needs to be part of the long-term corporate strategy, that couldn't be more important than when hiring an executive teammate. Visualizing where you want to be in five years, one year, and even next quarter, will be critical to see how a new CIO fits into that matrix.  The cleanest way to plot out that role is through a well-crafted, future-oriented job description, which can be the single step that begins the hiring process – and makes it simpler, from start to finish.

The basics of a solid job description include title, to whom the position reports (here, it's the CEO and board of directors) and a summary of the position and bullet-pointed specific job duties. For a more thorough document, add names and positions of colleagues that position will work with closely and minimum qualifications.

Even if you do not include them in a description, executive search experts advise thinking specifically about what accomplishments your ideal candidate should have – say, overseeing the creation of a technology parallel to what your company currently needs or managing a team of developers that has grown a technical company as much as you'd like to grow. Remember, for any executive-level position, you need not only be searching for someone with education, qualifications and who's a good match personally, but also someone with a proven track record of growth success.

Because the role of a CIO can vary from company to company, you'll want to assess which departments of your organization the CIO should oversee – whether it's just the IT department or also aspects of the research and development department. Also, ask yourself whether you want to allow some flexibility in hiring based on the strengths of your best candidates.

Hiring a CIO: Recruit Wisely
If your company is in the position to hire a CIO, chances are you have a significant budget for doing so. If that's the case, have you also budgeted for the time and energy it will take to find an ideal hire?
Because most top candidates from related fields are likely entrenched in great jobs already, they're unlikely to be trolling job-posting sites. To reach out to a qualified group of candidates you'll need to prepare to spend significant time on calling and networking with peer CEOs and COOs who oversee and hire for the CIO position – and finding current IT directors in your professional network who might be prime candidates for a leadership position. The other option is to fork over what can be a large fee to enlist the help of an executive search firm.

"You could use a search company, but a lot of start-ups don't have that 20 percent to spend on a head-hunter," says Teree.

Berray, an experienced executive recruiter, says his firm rarely turns online for finding executive-level candidates, due to the daunting task of weeding through "hundreds if not thousands of responses – and getting a lot of irrelevant stuff."

There are exceptions, though. He recommends posting a CIO position online if it's located in a remote geographic area or is in a field different from the one you'd like to hire from. "If you're looking for some cross-industry pollination – if you're open to some people you wouldn't normally think of, it could work," he says.

If you do decide to post a job listing online, let the job description you've already crafted be your guide. Include minimal qualifications, educational background, relevant fields of previous work, and what sort of a track record you're looking for.

For CIOs, you'll want someone who's a demonstrated great leader with a perceptive nature and great business sense. That's on top of being a tech whiz with a knack for profitability. Minimizing cost while maximizing results of technology - be it back-end programming or front-end product distribution – can be a big focus of the CIO's job.

You must also consider how to convey what kind of candidate will be a strong cultural fit. Performance-management expert Jamie Resker, president of Employee Performance Solutions in Boston, suggests looking for characteristics that already exist in your office. "It's not an exact science, but you want to find out whether this person is going to be a good fit culturally in the office is important," she says. "For that, you just need to tap into the best qualities your existing employees share."

 
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How to Work in the Cloud

Google’s recent update of its spreadsheets program is yet another sign that we’re moving towards a completely virtual work environment. The idea of saving things on your hard drive will become obsolete due to so many Cloud-based options. But storage is only a part of that shift.   

With a bit of savvy and a small investment, you can manage your entire business any where, any time. But first, how virtual are you? Do you meet with clients only to realize you're missing a key piece of data? Do you worry about saving space on your computer? Go into the office to finish work on the weekend?  

If so, I'd suggest giving yourself a grade. If you’re a B or above, you’re probably doing OK. But if you’re at a C or D, it’s time to adapt. This isn't because you have try new technology but because there are several advantages.  

 First, you’ll no longer be tethered to your office all the time. Second, you’ll won't need to upgrade systems on a regular basis. Going virtual can also mean significant cost savings. Here are five easy ways to get a great start.

Manage Customers with Salesforce 
This customer relationship management tool lets you keep track of your entire customer base in one place, online. You can easily share files and customer complaints across the company on one virtual platform.

Use Google Drive
Whether you're at the airport and need to write up a presentation or want to take spreadsheets of sales data with you to a meeting, the tools in Google Drive let you do most of the things on your desktop nearly anywhere. 

Store Files in Box or Dropbox
These Cloud-based data storage applications offer lots of space for free. And if you need more, it’s likely cheaper than physical storage. Plus, you’ll never lose your data in a fire or a flood.

Use an Online Payroll Service
This essential function, which once took hours, can now easily be accomplished by phone. Reports and paystubs are stored in the Cloud, so you'll never worry about not paying employees just because you're not in the office. 

Do Accounting Online
“Doing your books” should be a metaphorical term these days. With online accounting, no software is required and invoices, expenses, and income statements are always on hand (and easily accessible) for your accountant. Apps like these are plentiful and it’s remarkable how cheap they've become.

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How to Use Technology to Improve Customer Service

More companies are using technology to handle customer service in an efficient and cost-effective way. Here's how you can use data management and analytics and insight-driven marketing to improve your customer care systems.

There's no denying the fact that customer service is important to a small or mid-sized business. The quality of that service will either enhance or degrade customer loyalty to your brand and your business. With the economy in recession, customers have more alternatives than ever. The business that proves to be responsive to customer questions, complaints, or other needs can gain a clear competitive advantage. That's why it's so important to understand how new technologies can help you anticipate customer needs, tailor business processes to best serve customers, and ultimately improve the efficiency of your business – the latter of which can keep costs down.

Customer Service Technology
There are a few major areas in which technology now is able to help provide key advantages to businesses in engendering customer loyalty by improving customer service:

• Websites. Providing areas on your website where customers can answer their own questions or seek answers from others.

• E-mail. Using e-mail as a way to improve customer service and more quickly respond to certain needs or help requests.

• Communications. Unifying communications so that you know that the customer who left a voice mail also sent an e-mail with the same request a few days ago.

• Software. Better managing customer relationships with more sophisticated data-gathering tools, such as customer relationship management software.

Giving Customers What They Want, When They Want It 
The goal of your business in terms of its customer interactions is the generate loyalty. There's no better way to do that than to offer quality products and services and to be responsive to your customers. But as new technologies have come to market to make it easier for businesses to provide customer service, they may also be increasing the number of channels through which you interact with customers and the complexity of those interactions. Accenture, the technology consulting firm, suggests that businesses that want to use technology to raise the quality of their customer service focus on the following:

• Data management and analytics. Using data collected from customer to analyze their preferences. Insight-driven marketing. Gaining insights into your business from customer data so you can more effectively target marketing.

• Marketing automation. Streamlining and automating business processes to improve efficiency and keep costs low.

• Self-service optimization. Finding ways for customers to interact with your business when they want.

• Workforce effectiveness. Encouraging your staff to embrace new ways improving customer treatment by providing tools and training to deliver better service

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Web Strategy and online business success

Web strategy is the road map to get a clear picture about online success or failure and coming up with solutions to address those root causes instead of superficial solutions in order to achieve the goals or target.  So it is like a business plan, but it is the plan for your website.

Do you think we really need to adopt a web strategy?

I would ask the question from another aspect ‘Why is planning important?‘ An ancient proverb states, “The plans of the diligent one surely make for advantage, but everyone that is hasty surely heads for want.” Good planning ultimately leads to business advantages. Similarly, good website planning ultimately leads to advantages for your website versus competing websites. Therefore we need to adopt a web strategy for any business website because the website should be more than just a custom design and dynamic page

But what types of questions are answered as a part of a web strategy?  Let me provide some examples of web strategy questions and see if this helps you to understand what web strategy is about:

 

• What are the segments of customers who use your website? Thinking of all your customers in one big group is an example of having no website strategy because customers are not all the same. For example, a website selling clothes such as Old Navy might group their customers into categories like as in their website so they know what the customers or the segment they would like to target

• Does your website address the needs of each category of customer in a satisfactory way? Many website owners think primarily about their own needs, for instance getting a sale, and thus the website reflects this. Just as we hate salesman that are only out for their commission, people hate websites that only sell and otherwise aren’t helpful at sincerely answering questions or concerns the potential buyer might have.

• What are the top 10 questions customers ask when they reach your website? How do you answer each of those top 10 questions? Websites that fail to answer the most important customer questions won’t get sales because it is guaranteed you have a competitor on the internet that does answer his questions. Since this is the case, why would he/she comes to your website and use the service?

• On each page of your website, what is step or the action you want the user should do it when he/she land on your page? If you don’t know this, how can you tell your customer what to do? If you can’t tell your customer what to do, how will he/she know what to do next? If he/she doesn’t know what to do next, he/she will just leave your website.

• What is considered a successful visit on your website? What are you doing to ensure that each visit to your website is successful? Are you trying to get a phone call, a newsletter subscription, a purchase? The answer to this question should greatly affect your entire website’s layout and design.

I would therefore say, Web Strategy is the stage of translating overall business goals into a successful online strategy. I believe this stage is an important to establish your business towards measurable performance and online success

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Achieve Your Goals in 2014

1. Successful people do nine things differently than everyone else.

2. The rest of us hold ourselves back in five major ways.

3. But don’t stress! Just change the way you think about stress.

4. To spot new opportunities, imagine yourself in the future.

5. And act like a leader before you are one.

6. Decide what not to do in order to make time for the work that matters.

7. Keep meetings on track. Please.

8. Try not to make decisions when you’re nervous.

9. Money can actually buy happiness (if you give it away).

10. Give away your time while you’re at it.

11. Basically, be generous.

12. And say “thank you.”

13. Be quiet (sometimes).

14. Ask for feedback.

15. Pick the right battles to fight at work.

16. Don’t be too confident.

17. Challenge yourself with a growth mindset.

18. Go to sleep.

19. Seriously, go to sleep.

20. And go for a walk, too.

21. Remember: It’s really hard to change.

22. But it can be done.

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