Nowadays, online advertising is a must have for any kind of organization. However, there is no such thing as two identical organizations, and while some might need brand awareness, some others might need direct selling.
Based on the marketing strategy, your product type and your budget, you can chose which approach best suits your advertising needs.
One of the biggest problems of online retailers is cart abandonment rate. Let’s take an example: with a cart abandonment rate of 60%, a company loses 60% of its potential customers. How much would the revenue increase if the company captured those sales, instead of losing them?
For many organizations, building a Strategy Map might be a problem. But why is it so important in the first place?
The strategy map enables us to better understand the business model, the way the organization delivers value to customers and its intent to change.
Marketing has significantly changed during the last years, due to the evolution of the World Wide Web. Nowadays, it is much easier to reach the desired audience, at the right time. When thinking about the means of mass communication, such as newspapers, radio broadcasting and television, which have been present in our lives for many years now, there come some very relevant marketing-related questions: who is a company actually targeting through its mass communication campaigns? How can it know if the targeted consumers have seen the message or have payed attention to it? And, most importantly, how can a company measure the impact of its mass advertising campaigns?
On the road to developing a strategic plan destined to determine and improve either the general performance of an organization or performance within a particular department, specific tools have proved themselves to be very useful for assessing the current situation and taking the next logical steps towards achieving the objectives set. One of the most used and most useful tools, when properly applied, is data analysis, due to the clear and precise insights an organization can gain from it.