How Traditional Marketing Strategies Are Still At A Business’ Core Of Success by Kane Minks

Businessmen Marketing Sales Calls. Kane Minksby Kane Minks

Quite a number of studies have been done to determine which marketing strategies can warrant success, but with ever-changing global markets, companies need to be very innovative to come up with the best strategies that appeal to their target customers. However, it’s worth noting that what works for a particular company or product may not necessarily work for another. Some of these new marketing strategies that have proven effective over time are enumerated below.

  • Superior Product/Service

A great product or service is mightier than a good marketing campaign. This is one marketing principle that can build more prosperity than any other insight. This is not to say that if your product isn’t better than your competitors’ then your marketing cannot in any way communicate any unique or advantageous qualities to the market. But a much better product makes your ads more persuasive and more effectively boosts marketing success. Filling the void that exists in the market with a unique idea is one way of positioning your product or service above the competitors’, increasing market share and increasing sales and profits.

  • Public Relations

Hiring a suitable Public Relations (PR) agency can actually boost your business’ overall visibility and profitability. The agency’s role would be to get the necessary publicity by making sure that your business’ news, articles, and press releases get to the type of media outlets that is read by your target market. This publicity will increase your market visibility, credibility and sales. Examples of the media that your prospective customers get their information and news from include: newspapers, magazines, radio and TV.
Hiring a reputable PR agency that knows the influential journalists in your sector is more advantageous to you as they will be able to have any latest stories related to your organization covered in the media on a regular basis. PR firms are online and local. They have prices and plans that are matched to businesses at any level.

  • Build Strong Relationships with All Employees

Employees should be the most vital part of any company’s marketing strategy. If they feel strongly about the company, it easily reflects in their performance which helps create a positive impression on your customers and additionally within their social circles. Instilling a feel-good attitude in your employees is thus imperative in instilling in them a sense of satisfaction within the business and accordingly creating a positive image for your organization.

  • Run Promotional Offers

Running promotional offers definitely gets a lot of word-of-mouth publicity. For instance, you can decide to put your products half -price to increase traffic, get more people to talk positively about your company, and in the end convert the would-be customers to happy buyers.

You Can Make It Happen

There are many business and marketing strategies that work well. These are some of the tried and true methods that have worked time and again for businesses around the world. No matter what you choose, research and plan out a campaign that meets your current needs and will conform to the long-term goals of the business.

Kane Minks

Strategic Planning in Business Today- The Importance of Incorporating Digital Media by Kane Minks

The Marketing Metrics Continuum provides tactical to strategic Kane Minks

by Kane Minks

Along with the more traditional forms of marketing, in the current business landscape, it is essential to plan strategically using digital media in your overall marketing strategy.

Digital media gives a business the ability to not only reach more people, but also to reach those people in a more time efficient manner for less money than any other type of medium available in the modern business landscape.

Digital media has the following advantages among other things:

1 – Strategic planning in digital media has the ability to create a long term strategy without long term expenditures.

Most of the money that is placed into Internet videos and other forms of content are done during the production phase. This is because the maintenance phase of digital media costs a great deal less than any other sort of media.

It does not cost anything to keep a video up on a video sharing site. Unless you as the business owner decide to take the video down, it will stay up for you and serve as a 24 hour, seven day a week public relations campaign. It can go viral at any time, creating even more PR for you without you having to spend a single dime.

2 – Online media also has the ability to incorporate itself more readily into off-line campaigns.

With many new online marketing tools, it is much easier to create off-line foot traffic through online mediums than it has ever been before. Because the major search engines have created a need for businesses to localize themselves in niche oriented markets, proper keyword optimization and digital media incorporation into a content marketing campaign will serve as another inroad into customer acquisition and customer retention.

It has never been easier to supplement an off-line marketing campaign with online marketing tools. There are more tools than ever before, both paid and free.

3 – Digital media gives companies the opportunity to try out new strategies and analyze results in real time.

There is no other medium that gives a business the ability to see the results of a campaign in real time. Online reviews can be given to a company while the customer is still in the store. Multivariate marketing campaigns can be tested within a matter of minutes and optimized on-the-fly to give a boost to short term and seasonal marketing campaigns. These strategies can then be tweaked without having to restart marketing campaigns for large amounts of money.

Kane Minks

The Foundation of Low-Cost Air Carrier Price Structures prior to Airline Deregulation in the United States by Kane Minks

by Kane Minks

The U.S airline industry has come a long way from the days of government regulation and oversight.  In the November 1964 Air Transport World article “Let’s not give the store away!” many of the top minds in aviation at that time shared ideas and viewpoints on what the future may hold for aviation.  They may have speculated, but really had no idea what was to come.

Before U.S. airline deregulation, those in the aviation world continued to wonder what might become of their ever-changing industry, in the age of airline regulation.  Many domestic and international airline fare structure strategies were considered, including the implications of price elasticity.  The thought of overzealous marketers moving toward low-cost structures had many in the U.S. fearing the industry would head in the wrong direction.

The domestic and international markets were headed in two totally different directions.  The low-cost fares of the international airline market made sense since these fares provided greater load factor by increasing passenger volume.  At the same time, the U.S. domestic market was not yet convinced since they could not find the optimal point of price elasticity; whether or not fares should be increased or lowered and the point where passenger traffic would be reduced.

Many airlines grew frustrated with dull and unproductive fare structures in a regulated environment.  Low-cost and special advanced fares seemed to be the rational direction for airlines.  Passengers may have been paying different fares, but airlines could expand the market to price-sensitive passengers and others not flying.

The fears of discounted fares were largely based on what happened after the U.S. World Wars in the electronic housewares industry.  Americans were war-weary and found a new ability to buy.  There was a huge demand for goods.  Companies sought to beat out competitors by expanding production.  Supply outgrew demand and sales began to drop.  Conventional and discount retailers alike began to suffer.  Price wars erupted to capture as much of the remaining demand as possible, which slashed company profits.  Similarly, airlines had an over-supply of seats to fill, but adjusting fare structures set to reshape the airline industry for good.

The low cost fares and price wars of today are making flying increasingly accessible to people around the world.  Airlines that cannot afford to wage price-wars have to find new and unique ways of attracting business.  Customer-service, incentives, technology, and the overall travel experience are ways some airlines are gaining steam to retake market share from low-cost airlines. Some of these strategies have proven successful in regaining market shares.  Many things will continue to change.  The highly dynamic world of aviation around the globe will further shift and evolve as new strategies and factors appear. What the future holds for airline price structures may rely more on fees and less on volume.  Only time will tell.

delta dc aircraft regulation structures Kane Minks

Delta DC-6

A retrospective from Air Transport World’s “Let’s not give the store away!” November 1964

Kane Minks