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Top 3 Digital Marketing Trends for the Manufacturing Industry

Digital technology has been one of the key factors in shaping the marketing industry over the past year. And as marketing evolves, other service and goods-producing industries must adjust their marketing practices to keep up. 

Someone Steals a Client

I'm binge watching The Good Wife. I feel almost guilty to say this out loud, but I am and for years I have avoided it because the name of the show and the images they used to sell it didn’t pique my interest.

What's Next as a Marketing Manager

You've made it, but what's next. You are a marketing manager with 10 to 15 years experience and all of a sudden you are wondering where do you go from here.

Artificial Intelligence (AI) is all the new rage in the marketing world. In a “work-smarter-not-harder” industry, it only makes sense for marketers to turn to machines to help them better understand their audience, and how they interact with them. In today’s tech-forward world, it’s projected by Adobe that over the next 12 months, 31% of enterprises are expected to add some form of AI to its marketing mix.

The Flow of Value Through the Marketing Mix

Michael Powell once said, “Only when you bring value to others, will you bring value to yourself.” Looking at this quote from a business standpoint, your brand value will only increase if your company is able to provide true value to your customers first. Your marketing mix (or 4 P’s), which is part of your marketing strategy, can help you decide what value to provide to customers and how to best communicate that value. The 4 P’s of the marketing mix outlines the right product (or service) to sell, the right price to sell it at, the right place to deliver it, and the right promotions to get it known. Value, of course, should be at the heart of every “P.”

Product

The product refers to the good or service that you will be selling. The product should be able to fulfill a need or a want. Only then, will it be able to provide value to the consumers’ lives. When deciding the best product to put on the market, ask yourself these few questions:

  • Question 1. Will this product enhance my customers’ lives? If so, in what way?
  • Question 2. Will my product provide more value than my competitors’ products? If not, what can I do to enhance it?

Question 1 helps you explore the different values your product provides. The answer to Question 2 will help you figure out the product’s unique selling proposition or the characteristic that differentiates your product from competitors’ products. Remember, your customers’ opinions of the product will determine its sales.

Price

Price plays a big part in your marketing mix, and ultimately, your marketing strategy. Price indicates the amount of money your customers have to pay in order to buy the product or get access to the service. Setting the price can be a bit tricky. Setting the price too low can affect your revenue and business’s growth. Setting a price too high can affect the demand for your product. To determine the best price for your product, take into account the production costs and the customers’ perceived product value. Product value is the product benefit minus the product costs.  Product benefits may include a product’s quality, convenience, performance, experience, healthiness, and environmental friendliness. This is the only “P” that will bring money into your company. The other three “P’s” are simply cost incurring factors.

Place

Location, location, location!

The “Place” element of the 4 P’s identify where your product or service will be sold. Picking the right place helps your product reach the right target audience. For the company, it means more sales. For the customer, it means an experience. A good experience will bring value. When determining a place to sell your product or service, consider the following factors:


  • Reach- Is this the right location to attract the right customers?
  • Convenience- Can your customers easily access this location? Should you sell your product online?
  • Environment- Is this the place reflecting my brand? (Hint: You will not find Tiffany & Co.’s jewelry at a discount store.)

“Place” also includes the “online” environment. At Marketing Eye, we provide website development services to get your business on the virtual map. The place you choose should provide a great experience for your customers. Therefore, make it easy for customers to pursue your product--online and offline.

Promotion

Promotion refers to the process of communicating the product, price, and place to target customers. Your promotion objectives should include communicating the value of the product/service. There are several types of promotions, including public relations, direct mail, internet marketing, personal selling, advertising, and social media marketing. When looking for how to promote and where to promote, keep the customer in mind.

The marketing mix affects a company’s product success. This is why the marketing mix plays such a big role in a company’s marketing strategy. Need help with your marketing strategy? Contact us online, or call 404-626-8070 to speak with a marketing manager.
How Marketers Will be Forced to be More Proficient

Game on. Marketers have not only had to turn to technology to power their marketing performance and stay clear of traditional marketing methods to a large degree, they now are needing to be more proficient when it comes to the purse strings.

7 Ways to Increase Your Ranking through SEO

When building out new web pages, whether it’s a blog, contact us page, or informational, search engine optimization (SEO) needs to be employed. Here are 7 simple tips to follow when building out new pages.

Marketing Eye Executive Marketing Strategies

Like many businesses, there is never enough time to get all the marketing done that needs to be completed, and quite often businesses either don’t have the excess funds to hire a full-time marketing executive, or they don’t wish to have another headcount.

Measuring the Success of Your Content

I am a lover of the written word. I was lucky enough to turn this passion of writing into a career in content development, and the best part about working in marketing is that you can measure the success of your writing, learn from your mistakes, and create better content in the future. I’ve learned more about writing from measuring analytical data on my content than I ever did in a classroom.

Email is an essential part of your marketing mix. It’s an easy, fairly inexpensive way to interact with your customers. A great way to maintain top-of-mind awareness to your potential clients is through a newsletter with a regular cadence, but is there the chance to generate profit from your newsletter? Kimberly Maceda of ActiveTrail has written 8 tricks on how to generate profit from your email newsletters.

How to Get a Leg Up as a Marketing Consultant

At Marketing Eye, we employ a lot of marketers and over the years you learn to define what type of marketer you look for in a role such as marketing consulting.

Is your mindset standing in your way?
Entrepreneurship is a tough gig. Add jumping into it alone - that's even tougher. There's always going to be hurdles and barriers that you will face, but the biggest hurdle of all is your mindset.
Trust the Power you Hold Within
I was told to forget about developing Robotic Marketer - the world's first robotic and AI-based technology that develops marketing strategies in minutes, not months. I thought about it for a nanosecond. I had this moment of being scared and defeated. Then I said to myself "why should I?". I truly believe that I can do anything I set my mind to - and I'm right. 
Vulnerability Means You're Human
Yesterday, I saw someone through their eyes. I saw their vulnerability, insecurities, hopes, and dreams. Their next move, little do they know,  will define them more than they realize.
The Best Marketing Consulting Firms in THE WORLD - and We're One of Them
Marketing Eye puts an incredible amount of effort into delivering world-class marketing strategies to our clients. We have invested heavily in research and development, and of course, developing the world's first Robotic Marketer. 
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