The whole world has gone technology crazy, from smart phones to handbag sized laptops. It is anticipated (retail analyst Verdict) that by 2014 online expenditure will increase by more than 56% to £35bn. Can you afford to be left behind in the digital age? The simple answer is no you can’t.
There can be no doubt that to stay competitive and to stay ahead of your competition a marketing analysis system is essential, with it you can clearly identify profitable opportunities as well as indentifying the strengths, weaknesses and risks of a company. Implementing an effective marketing analysis system is no mean feat, there is then a natural progression towards a professional company like digital marketing to work on those areas you have highlighted in an analysis and target your audience to continue to outperform your competitors.
What needs to be included in a well structured marketing analysis?
In a good marketing analysis there are some essentials that will not only identify a company’s marketing strengths, and areas that can be improved upon, but it will also highlight where a competitors weaknesses are offering an opportunity to exploit and profit from them.
The essentials include an analysis of:
- Products and services. Key products, best sellers and those that need promoting.
- Promotion. How, where and to whom do you promote the products.
- The market. Where is it, and who is it.
- Price point. How do the product prices compare to the competition and how and on what is it based.
- The marketing team. How does the marketing team communicate with the customers, is this an easy process for the team, and is it easy for the customers to business with the company.
- The competition. Who are they, how do they market their products, how do they meet the demands of the market, how is their website performing and, importantly, are they ahead in the search engine results.
All questions that need to be answered in an effective marketing analysis and this is where digital Marketing can help.
What is Digital Marketing?
Digital Marketing is a term that describes all online marketing techniques. In addition it can also include such media as radio, television and mobile phones.
Using a marketing analysis to firstly highlight your key products and services as well as identifying those that may need more promotion, is vital to the health of any business, but more so in an online environment because not only can a company see what its competition is doing, but so can the competition. So Digital marketing is a blend of different Internet marketing techniques offering a company the opportunity to stay ahead.
Using Digital Marketing
In an “online” world businesses that don’t keep up with Digital Marketing are destined to fall behind and fast.
Digital marketing requires a company’s marketing team to stay on top of current trends and improvements in web technology, whilst being able to design, adapt and manage marketing strategies for the benefit to their customers, a challenge for sure, but one that must be won.
For more information go to: www.kub-uk.net/digital-marketing