Tagged: Good Business

Will Advertisers Get Behind

he Times have revealed that 105,000 people have subscribed to the online version of the paper. Despite their proclaimed joy at this figure, it in fact represents a fall of 90% in their online readership. It is also a cumulative figure across 4 months and may contain the same people subscribing more than once. Not surprisingly advertisers have been fairly unimpressed, voting with their feet.

So is there a future in paywalls for newspapers? When the news is available freely from other papers and the BBC it seems unlikely that enough people will pay. The content has to be specialist and unobtainable elsewhere for it to be worth paying for. Having said that, cricket site cricinfo.com is free and provides a huge number of informative articles without a paywall. Currently cricinfo are advertising for writers on their site. As a cricket-loving copywriter I thought this might be worth investigating until I discovered that there was no actual fee for accepted articles – just the glory of appearing on the site. The Times would argue that if journalism is given away free then journalists can’t expect to get paid. Other publications hope online ad revenue will foot the bill.

It’s interesting to note that whenever the Times paywall goes down, certain Times journalists tweet this fact in a desperate attempt to get more people reading their articles. And of course if journalists see they are not being read, they may well feel more inclined to move to rival papers where their online presence is greater.

At the same time as this debate rages, back in the physical world the Independent has just launched a new 20p version and the Standard continues to be a completely free newspaper. This strategy represents the polar opposite to that of Murdoch and it will be fascinating to see which model wins. Whatever the outcome, advertisers should benefit from the increased competition and the newspapers’ greater reliance on paid for advertising.

Mobile Marketing Offers

A good business is always measured in terms of Return on Investment. ROI signifies the effectiveness of any business strategy. How much you invested and how did it turn up is all that decides the profits earned in a business. As far as advertising is concerned, ROI can simply be put as the amount of sale generated by the advertising. The more the sale an advertisement is able to generate, the more ROI it is supposed be bringing.

There are various means and methods of advertising. Print media, digital media, billboards, etc are some traditional ways of advertising. However changing lifestyles and lifestyles changing technology is demanding more form the advertisers. Gone are the days of lifeless print advertisements. Though these are cheaper to produce, these fail to provide sufficient information owing to space constraints. On the other hand, digital media advertising is catchy with the mix of audio and visual effects, but is costly and cumbersome to produce. Advertising on the internet is limited in its reach.

Advantage 1: Mobile marketing is inexpensive

Mobile marketing is certainly the most economic means of advertising and marketing in comparison to the traditional methods of marketing and advertising. The charges of bulk SMS and SMS marketing has come down to an affordable level. Thereby, mobile marketing can garner better ROI than any other marketing methods.

Moreover, at such less expense, mobile marketing has a potential to reach a huge cache of customers within a time as short as a snap of the fingers. No other means of marketing offers this unique advantage. The text message sent to the customers lies with them as long as they do not delete it intentionally. That gives freedom to the users to respond to the SMS whenever they feel to do so. This non compelling characteristic of mobile marketing has been, in fact, responsible in popularizing it.

Advantage 2: Response generation is excellent

As text message sent for mobile marketing gives freedom to the users to respond as per their convenience, it has been effective in generating excellent response. Text messages can include short codes and interactive menu that can offer added information to the desired customer. Additionally, it can incorporate URL to allow customers to visit the website for having in-depth look into the firm. Not only that, it can offer mobile coupons to lure the customers.

All these techniques have been effective in generating excellent response to mobile marketing campaign and covert more leads to customers; thus bringing in more business, profit and increase ROI.

Decision making in Business

Most of us have wondered about a few people who always make the right decisions, not only in business but also in the life. It is generally said that it is better to make a wrong decision than to stay without making any Proper decision making is one of the qualities of a good business manager.

Sometimes you try to take multiple decisions and you may finally end up by selecting the perfect decision. The important aspect of a manager is the proper decision making. But if your decision is quite wrong, then things can’t be done properly. They are also responsible to resolve all types of problems and come up with a tentative solution. The decision process can be tabled to the management team as an eye opener for the final solution.

As you make a tentative solution, make sure to consider the important consequences. Even after passing a decision, its effect will felt for a longtime. Some decisions are so crucial that invalidating them later will adversely affect your business. For example, deciding to change a known brand name which is already known in the market may not work well for your business.

Every time when you make a decision compare and discuss such decisions with other people in the organization. Generally you can not be right always and you need opinions and directions from others. Analyze your decisions before submitting to the management and check does it match with strongly the organization beliefs, goals and dreams.

Man Types of Decisions:

Strategic Decisions:
These are the Long-term decisions that effect the profitability and survival of a business which are closely related to the aims of the business. These decisions are risky. Here,the strategic decisions are made by the top people in an organization like CEO’s, Boards of Directors and Senior Managers. These important Decisions form the business long-term strategy for about 10-15 years.
For Eg: Increase market share by 12% over the next 5 years.

Tactical Decisions:
It includes some short to medium decisions which are based on the strategic decisions of the business. Then the Closely related objectives of the business will meet the strategic aims and the
Tactical decisions are constantly reviewed and updated.
For Example: Setting sales targets for the next 12 months.

Operational Decisions:
This type of decisions are Routine day to day decisions made by a business. It helps the organization to easily achieve their objective and consists of some solving short-term practical problems.

Only successful entrepreneurs knows that the product is a fraction of the business. The winning entrepreneurs are great at addressing and they correctly invest their time in learning about the buyer, investor needs. Thus they learn well to spend their time efficiently.