Marketing 2.0

Before explaining this concept, it is good to take the word of an expert in the area:

Marketing 2.0: it is focused on the consumer. This type of marketing strategy is composed to retain the client and achieve their loyalty, here they focus more on the emotions of the clients and their satisfaction with the product or service, creating a difference not only in your products or services but also in the experiences and emotions that the customer felt with the product or service itself, this type of marketing is in constant interaction with the customer.

This strategy cares about its client, and its objectives are focused on it. Therefore, customer service and user experience are the ideal complements to the product. From there, a method is created so that the client feels satisfied with the brand from the beginning and wishes to maintain his preference. This is the final point.

For this, a study of the consumer is carried out of his preferences and needs to elaborate a plan that provides solutions or answers to his expectations through the product or service. For this, the interaction between the brand and the customers must be constant.

Characteristics

If you are interested in knowing the type of marketing 2.0 strategy (concept) precisely, we present the main characteristics for easy identification:

• Its goal is to satisfy customer needs.
• It is bidirectional.
• It is concerned with creating a relationship between the brand and the consumer.
• Take into account customer ratings and opinions.
• Seek that the client is an admirer of the brand.
• Its means of diffusion are mainly in the digital environment.
• The contents, texts, and designs are adapted to the demands of social networks and Internet search engines.

Advantages And Disadvantages

Even though marketing 2.0 (concept) was, at the time, what prompted many companies that achieved significant benefits, it also represented an obstacle for brands needing to be in step with the digital world. At this point, it is essential to highlight that this type of marketing arose thanks to the Internet. The development of social networks and platforms that have become the best tools for advertising a product or service began. Hence the need to have a website and active social networks to maintain real interaction with users.

Next, we analyze the advantages and disadvantages of marketing 2.0:

Advantages

• Lower cost in advertising investment.
• Reach a more significant number of potential customers.
• Use of tools to measure strategies and campaigns on the Internet.
• Active feedback.
• Easy distribution of information and products.

Disadvantages

• With perseverance, the strategies and investments will be successful. Therefore, it is a permanent job to publish on the networks.
• If not explained correctly, the information can be misinterpreted by users and cause bad publicity for the brand.
• Not all platforms and social networks work for all markets. This requires the study of the marketing department to determine which are functional and which are not.

How Did Marketing 1.0 Evolve Into Marketing 2.0?

When discussing marketing, we must focus on strategies to sell or advertise a product; its final objective is the same. Reviewing the concept, marketing 1.0 only focuses on the sale and the company’s objectives. At this time, industrialization dominated the market. All the brands produced and needed to market their products using advertising aimed at the general public. It was characterized as a very creative technique that highlighted the qualities of the product or service.

When the Internet appeared, millions of voices were raised, including consumers who gave their opinions on various topics. Hence, they are interested in companies being protagonists of these issues and gaining popularity through the Internet. This is how marketing 2.0 (concept) was born, also called digital marketing.

The post Marketing 2.0 – Concept, Advantages, Strategies, And More appeared first on Web Updates Daily.

Product

The product can be tangible like a vehicle, a mobile phone, some shoes, etc., or intangible like a consultancy service, software, hosting, etc., and that can be perceived only indirectly. In any case, the product that hits the market will go through different stages: initial growth, stability and a drop in sales. Hence the importance of investigating its life cycle before putting it up for sale.

What Should We Ask Ourselves About The Product

When developing and introducing a product on the market, we should ask ourselves some questions that will help us bring to fruition what we want to sell:

• What does the customer receive from the service or product?
• How and when will you use it?
• What features will the product have to satisfy the customer?
• Have we added all the features?
• Have we added any more, and that is unnecessary?
• Do we have a catchy name for the product?
• How do we visualize it (sizes, colors and other characteristics?
• What differentiates us from the competition?

Point Of Sale

Another of the four P’s of marketing applied to an online store is the point of sale or the place where we will sell the product. Obviously, the point of sale for an online store is the Internet. However, if we also have a physical store, conducting a market study of the area would be advisable before opening our business.

Distribution Strategies

There are many distribution strategies, for example:

• Extensive. It is the one that tries to cover the most significant number of points of sale. Ideal for basic or first need products.
• Intensive. It is the one that seeks the distribution of the product in an equivalent commercial branch.
• Exclusive. Carefully choose the points of sale to increase the prestige of the brand. We have more control and more margin. It is often used for high-end products.
• Selective. Restrict the number of products, either by philosophy or company image, or based on geographical perspectives.

What Should We Ask Ourselves About The Point Of Sale

To develop our distribution strategy, we could ask ourselves these questions:

• Where do customers look for our service or product?
• Is it possible to sell the product online?
• How do we access distribution channels?
• How does the competition distribute?

Price

The price is the final cost the user will pay for the product, and it is one of the main items for sale and determines our company’s profit. The advantage that we have, being an online store, is the considerable savings in some expenses that will influence the final price of the product, especially those related to marketing, since we do not need to hire vendors nor pay the rent of the physical establishment. If we are a new business with new products, it is unlikely that customers will pay a high price for them, so adjusting their prices should be part of our marketing strategy.

Strategies

Here are the top five pricing strategies:

• Market penetration. It aims to conquer potential clients by offering more contained prices on the products or services we offer initially.
• Premium. This strategy sets a price above the average market price and makes consumers think that our product has added value compared to the competition.
• Skimming. The first phase consists of entering the market with a high price, attracting the less price-sensitive segments, lowering it considerably and reaching the rest of the segments. This is more effective if you have little competition.
• Psychological prices. It is to fix a product and that the client acts by emotion rather than logic. For example, instead of setting a total price, set a lower price with decimals: €99.99 instead of €100.
• In a batch. They sell a group of products at a lower price than when purchased individually.

What Should We Ask Ourselves About The Price

The questions we should ask ourselves before setting a price could be the following:

• How much does it cost us to produce the product or service?
• What value does the customer perceive in the product?
• If we lower the price, could we increase the market share?
• Can we maintain the product’s price compared to that of our competitors?

Promotion

Finally, promotion is another of the four Ps of marketing applied to an online store. This is the way to communicate the sale of a product or service, intending to disseminate the product and persuade the consumer to make a purchase.

Promotion Elements

The promotion consists of elements such as:

• Sales organization. It deals with the sale and distribution of a product or service.
• Public Relations. Manages relations with the public through favorable publicity, good corporate image, controlling everything that is said about our company.
• Advertising. Any paid way to present and promote the product by an identified sponsor.
• Sales promotion. Short-term incentives that encourage the purchase of a product or service.

What Should We Ask Ourselves About Promotion

We should ask ourselves some questions if we want to create a good product promotion strategy:

• How do we send promotional messages to our potential buyers?
• When is a good time to promote our product?
• Through what means can we reach our clients (radio, television, AdWord)?
• Would we include the RRSS in our promotion strategy?
• What does our competition do to promote the product?

The post The Four P’s Of Marketing Applied To An Online Store appeared first on Web Updates Daily.

However, many businesses struggle to grow their eCommerce presence. eCommerce stores are digital marketplaces that allow businesses to sell their products directly to consumers.

According to a report from Statista, the global ecommerce market will be worth $4 trillion by 2021. This means that if your business has not yet succeeded with an eCommerce strategy, you might be missing out on a lot of action.

Fortunately, eCommerce has never been easier than it is today, thanks to platforms like Shopify, BigCommerce, and Amazon.

If you’re still trying to figure out how to grow your business in the digital front, read on for helpful eCommerce advice that will take your company to the next level.

Set Achievable Goals

First and foremost, you’ll need to set measurable and achievable goals for your eCommerce strategy. Without goals, you’ll have no way to measure your success — or lack thereof.

Before setting goals, you’ll need to understand the type of customers you want to target. Next, you’ll want to understand which channels will help you reach those customers. Last, you’ll need to set a time frame for achieving these goals.

Understand Your Audience

eCommerce is all about the customer experience. In order to create an amazing user experience that keeps your customers coming back, you’ll need to understand the needs of each customer segment.

For example, if you’re selling a product to a younger customer, you’ll want to keep the design and messaging lighthearted. If you’re selling to an older customer, you’ll want to keep the design and messaging more conservative.

You can use data to understand your customer base by taking advantage of tools such as Google Trends, Google Analytics, and Amazon’s Customer Feedback. These tools will provide you with detailed metrics about your audience to help you better understand your consumer base.

Don’t Ignore SEO

While it’s true that users will find you through organic search results and paid advertisements, a lot of customers will find your products through direct navigation. To make sure your products are easy to find, you’ll want to optimize your navigation and product pages for SEO.

SEO includes several different techniques that can help your products to rank higher in search engines like Google and Bing. This will give you more traffic and more conversions.

You can use tools like Google Keyword Planner, SEO Book, and SEO for Shopify to optimize your eCommerce shop for SEO.

Don’t Be Afraid To Experiment

eCommerce is a volatile industry that is constantly changing. To keep up with the latest trends and best practices, you’ll need to keep experimenting with new strategies. For example, you might want to experiment with paid advertisements on social media. Make sure you assess what’s working and what’s not to make sure you’re not wasting money.

Summing It Up

Whether you’re new to e-commerce or have been selling online for a while now, it can be tricky to stay on top of things. Competition is fiercer than ever and shoppers are becoming increasingly savvy when it comes to buying online.

So, if you want your business to stay ahead of the game, you simply have to put a lot of weight behind your eCommerce efforts.

Whether you have one or several completed products ready for sale, the pointers listed above will help get your company moving in the right direction.

Also Read: The Future Of The eCommerce

The post Use This eCommerce Advice to Grow Your Online Business appeared first on Web Updates Daily.