Do you have a marketing plan? You don’t? Then you’d better get one. If you don’t have a road map for targeting the right product to the right people in the right way, keep your website on MySpace and start buying truckloads of lottery tickets.
We all understand the importance of goals, purpose, direction and measurement in establishing commitment, success, team work, and coordination. Somehow between that understanding and the execution things often go awry.
One of the key mantras of a relatively new industry, direct marketing, has been the focus on setting goals and measurement. Google Analytics, and products like it, have quickly become business tools of choice for companies seeking to set goals and measure results. These new direct marketing tools are so effective and relatively easy to use that businesses both large and small can now instantly measure and observe results.
One typical reason goals are often not set correctly is that it can be a difficult process. One of the advantages of professional sports is that the goal of winning is simple, clear, and easy. It is not always quite that simple in other businesses. (more…)
Demographics is the study of how a population based on factors such as age, race, sex, economic status, education, income, and employment affect various outcomes. Demographics are typically used to learn more about a population’s characteristics. Businesses must rely on demographics as a key method for planning.
Back in 1960, the American labor force was dominated by 21-45 year old white males. Today, we have a far more diverse labor force when viewed according to age, sex, race, and ethnicity. These changes in the labor force require an entirely different structure of practices, strategies, and culture. (more…)