Tag Archives: business model

Tracking Small Business Trends

16 Mar

As with large firms, tracking small business trends is imperative. IF small firms want to adapt to the marketplace! To best face competition, they must do so.

Before studying trends, read these posts:

Now, we turn to 2018 small business trends.


Tracking Small Business Trends

So, what’s up next for small business? And how should firms prepare for them.

As Evan Brown reports for jeffbullas.com:

“Small businesses have always played a vital role in economic growth because they are known for creating more jobs than their larger counterparts as SBA reports. But even though small businesses have seen an immense growth due to the introduction of the Internet, it is quite difficult to properly market themselves. A report by the National Small Business Association states that a decrease in consumer spending, economic uncertainty, and cost of health insurance benefits are the reasons behind the failure of a business.”

That is where this article comes in. 2018 looks to provide a slew of fantastic marketing opportunities that will allow small businesses to truly stand out. And I have taken the liberty of listing 18 small business trends that can help them do just that.”

Here are three of these trends. To see the other fifteen, click here.

Experiential Marketing

“Thanks to social media, customer engagement allows firms to better appease their target audience. In fact, consumers are encouraged to take part in the growth of a business. And we call this experiential marketing.”

Tracking Small Business Trends -- Experiential Marketing

Crowdfunding a Growing Source for Small Businesses

“In the past couple of years, the concept of crowdfunding has largely increased. It serves as a platform that allows brands to seek funding from online users to help fund their project before it is developed and released to the public.”

Tracking Small Business Trends -- Crowdfunding

Opportunities for Voice-Optimized Content

Given how much easier voice search is compared to typing, it won’t be long before most marketers begin to optimize content for voice search.

Tracking Small Business Trends -- Voice Searches

Data Analytics Can Help Predict Consumer Behavior

8 Feb

As we know, forecasting how consumers will behave is big challenge for marketers. In essence, what are we — as shoppers — going to do in the future? Thus. let’s see how data analytics can help predict consumer behavior.

As described by Techopedia. We extract and sort data to learn and assess behavior and patterns. And techniques vary according to a firm’s requirements.”

At this point, take a look at these prior posts on the topic:


Data Analytics Can Help Predict Consumer Behavior

To better grasp how analytics can help predict behavior, read on.

Because of big data, we have a simpler prediction process. As we noted last year:

“eMarketer published a Big Data Roundup for 2017. And it concluded that ‘Most key goals of marketers are rooted in big data. This includes targeting and customer relations, attribution, and AI. eMarketer has articles, insights, and interviews. To help you understand why and how marketers put these  data sets to work.”

Now, Dot Com Infoway (DCI) produced an analytics infographic. With it, marketers can better use analytics to predict behavior:

“Predicting behavior is a big challenge for marketers worldwide. And though it has always been hard, today it is harder. With consumers exposed to new technologies, products, and even new wants!”

“Thus, the infographic explains the importance of analyzing behavior. And with graphics, it shows behavior of an average online buyer. Along with sites where consumers share feedback. Next, the infographic lists steps in making a purchase. Also, it informs about the  buying behavior process. At the end, it explains predictive modeling.”

To learn more about data analytics, click the infographic. If you do so, you will see lots of good info on this topic. And the read is worth the time!


Data Analytics Can Help Predict Consumer Behavior

2018 Marketing Budget Strategies

30 Jan

Today, we present the second in our three-part series on the marketing budget. This topic merits the detailed coverage. Yesterday, we began with 2018 Marketing Budget Trends. Now, we cover 2018 Marketing Budget Strategies. And we conclude tomorrow with our 2018 Marketing Budget Free Templates.

Consider this observation from Myriam DiGiovanni for The Financial Brand

“You’ve heard the famous quote about marketing budgets before: ‘Half the money I spend on advertising is wasted. The trouble is I don’t know which half.’ This quote is attributed to John Wanamaker, a famous retailer and marketing pioneer from the 1800s. The good news is that Wanamaker believed half his marketing budget actually worked. The bad news is that the problems with marketing attribution persist even today. After all, when your CEO asks for proof that the money spent on marketing is getting results, what can you say?”


2018 Marketing Budget Strategies: Background

Which type of marketing spending gets the biggest bang for the buck (ROI)? In a recent survey of 2,500 digital marketers, respondents reported on what marketing activities generated the best ROI. And this is highlighted in the following chart. Click on it for a more readable version.

2018 Marketing Budget Strategies: Background


Further, consider this from Chis Leon for Web Strategies:

“In a 2017 report from Hanapin Marketing, 75% of respondents expect to increase Google Adwords spending in the next 12 months (more than any other digital channel). Facebook expects to see increased investments by 71% of respondents. Instagram and Twitter, by comparison, expect to see increased investments from less than half of respondents (46% and 21% respectfully). Snapchat was at the bottom of the list, with only 15% of respondents expecting to increase investments into 2018.”

2018 Marketing Budget Strategies: Background


2018 Marketing Budget Strategies: Tips

“It’s never too early to start working on your marketing plan for the upcoming year. [And many firm work on fiscal year.] For B2B and B2C marketers, there are many ways your budget will impact your marketing capabilities and strategy. Use this guide to assess your current marketing practices and discover the marketing methods you may want to introduce in the next year. After all, your budget is likely an untapped resource for your marketing team. And might allow for optimization, integration, and innovation. In any case, use this guide to get a jump start on your 2018 marketing budget and determine what tactics you should incorporate to make the year a successful one.”

Click on the Schmukler link above to read his guide. As we see, it consists of these tips:

  1. Analyze and Benchmark Past Marketing Successes.
  2. Determine 2018 Marketing Goals.
  3. Consider Marketing Channel Options.
  4. Prioritize Your Needs.


Big Data Challenge: Measuring Marketing ROI

12 Dec

As we know, big data is a big deal. And it’s challenging too. Hence, we turn to a big data challenge: measuring marketing ROI.

If you have followed Evans on Marketing, you aware that we have reported regularly on big data. So, take a look at these examples:


Big Data Challenge: Measuring Marketing ROI

Even today, measuring marketing is hard. And this is with the availability of big data.

With that in mind, Malinda Wilkinson, writing for Business Group asks this question. “Marketing ROI: Big Bucks Or A Total Bust?” Consider these observations:

“Are your campaigns driving big bucks or a total bust? That’s the most important question we have as marketers. To determine this, you have to connect the dots. And unlock the value of the data. However, depending on the current state of your data, you may not even know where to start. When it comes to your metrics, most marketers likely fall into one of these three categories.”

You don’t track anything. People fall into this category because they don’t know what to track or how to track it. Also, they also may not have the right tools to best monitor and report metrics. Unfortunately, when you’re not tracking anything, it is hard to determine what’s working well. And if your marketing investments are worth it.”

You track the wrong things. You might track some metrics. But the real question is – are they the right metrics to track? To answer, be sure data are relevant, meaningful, and unbiased. The goal of metrics is to enable better decisions and improvements that drive your business forward.”

You track everything but are overwhelmed by the amount of data. Do you have so much data that you can’t make heads or tails of it? That is information overload. In this case, you track all the data. But you don’t know how to isolate key information and focus on what will move the needle.”


Tips to Measure Marketing ROI

To measure marketing ROI properly, Wilkinson offers these tips:
  1. “Set goals based on business objectives.”
  2. “Identify what data you need to track progress against those goals.”
  3. “Make sure data are meaningful.”
  4. “Define your metrics.”
  5. “Assess the current state of your data.”
  6. “Invest in an analytics tool.”

Click the image for further discussion of the tips.


Big data is a big deal. And challenging too. Hence, we turn to a big data challenge: measuring marketing ROI.

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