Marketing is a dynamic science, there are a lot of changes happened to marketing from the beginning till this time and a lot of changes will happen to marketing in the future, in this list you will see 50 must read books in marketing field, you should read these books at least once in your life.
Marketing books open the closed doors in our minds, these books allow us to know more and more about the marketing field and the changes of marketing, enjoy the list:
1) Principles of marketing, Philip Kotler and Gary Armstrong
2) Marketing Management, Philip Kotler
3) International Marketing, Philip Cateora, Mary Gilly, John Graham
4) Global Marketing, Warren J. Keegan, Mark C. Green
5) Marketing Plans: How to Prepare Them, How to Use Them, Malcolm McDonald, Hugh Wilson
6) Marketing Management: Analysis, Planning, and Control, Philip Kotler
7) Advertising and Promotion: An Integrated Marketing Communications Perspective, George E. Belch, Michael A. Belch
8) Marketing across Cultures, Jean-Claude Usunier, Julie Anne Lee
9) International Marketing, Michael R. Czinkota, Ilkka A. Ronkainen
10) Marketing Strategy and Competitive Positioning, Graham Hooley, Brigitte Nicoulaud, Nigel Piercy
11) Services Marketing: Integrating Customer Focus across the Firm, Alan Wilson (Author), Valarie A. Zeithaml, Mary Jo Bitner, Dwayne D. Gremler
12) Marketing Research: Methodological Foundations, Dawn Iacobucci, Gilbert A. Churchill
13) Marketing Myopia, Theordore Levitt
14) Marketing Research, Carl McDaniel Jr., Roger Gates
15) Services Marketing, Valerie Zeithalm, Mary Jo Bitner, Dwayne Gremler
16) Strategic Marketing, Alexander Chernev, Philip Kotler
17) Marketing Research : An Applied Orientation, Naresh K Malhotra
18) Principles of Services Marketing, Adrian Palmer
19) Understanding Digital Marketing : Marketing Strategies for Engaging the Digital Generation, Damian Ryan, Calvin Jones
20) Principles of Internet Marketing, Jason I. Miletsky
21) Consumer Behavior: Building Marketing Strategy, Delbert Hawkins, David Mothersbaugh
22) Strategic Marketing for Non-Profit Organizations, Alan R Andreasen, Philip T. Kotler
23) Marketing for Nonprofit Organizations, Alan R Andreasen, Philip T. Kotler
24) Design and Marketing of New Products, Glen L. Urban, John R. Hauser
25) Marketing Research: An Integrated Approach, Alan Wilson
26) Data Mining Techniques: For Marketing, Sales, and Customer Relationship Management, Gordon S. Linoff, Michael J. A. Berry
27) International Marketing Research, V. Kumar
28) Consumer Psychology for Marketing, Gordon Foxall, Ronald E. Goldsmith, Stephen Brown
29) Political Marketing and Communication, Philippe J. Maarek
30) The Internet Marketing Plan, Kim M. Bayne
31) Managing Customer Relationships: A Strategic Framework, Don Peppers, Martha Rogers
32) Consumer Behavior and Marketing Action, Henry Assael
33) The Political Marketing Game, J. Lees-Marshment
34) The New Rules of Green Marketing: Strategies, Tools, and Inspiration for Sustainable Branding, Jacquelyn Ottman
35) Integrated Marketing Communications, David Pickton
36) Ethics in Marketing: International Cases and Perspectives, Patrick E. Murphy, Gene R. Laczniak
37) Direct Marketing : Strategy, Planning, Execution, Edward Nash
38) Guerrilla Marketing Research : Marketing Research Techniques That Can Help Any Business Make More Money, Kaden Robert J., Levinson Jay Conrad
39) Inbound Marketing : Get Found Using Google, Social Media, and Blogs, Brian Halligan, Dharmesh Shah, David Meerman Scott
40) Marketing to the Social Web : How Digital Customer Communities Build Your Business, Larry Weber
41) Advertising 2.0 : Social Media Marketing in a Web 2.0 World, Tracy L. Tuten
42) Small Business Marketing Management, Ian Chaston
43) Guerrilla Marketing : Secrets for Making Big Profits From Your Small Business, Jay Conrad Levinson
44) Analysis for Strategic Marketing, Vithala R. Rao, Joel H. Steckel
45) Strategic Marketing : In the Customer Driven Organization, Frank Bradley
46) Consumer Behavior : Implications for Marketing Strategy, Del I. Hawkins, Roger J. Best, Kenneth A. Coney
47) The Birth of Internet Marketing Communications, Dan Steinbock
48) Internet Marketing Research : Theory and Practice, Ook Lee
49) Online Marketing Handbook: How to Promote, Advertise, and Sell Your Products and Services on the Internet (Communications), Daniel S. Janal
50) The New Rules of Marketing and PR, David Meerman Scott
If there another place in this list what you would put on it?
On March 27, 2015 Deadpool starts its marketing campaign on social media using an engaged way with social media fans, How they do that:
Social media isn’t about sharing news, updates and trying to sell your products or services. Try to reach your customers by personal content.
Let them asking:
Fans need to ask you questions, so let them ask, Deadpool’s producer Simon Kinberg is here to answer.
Social Media influencers are everywhere, and they are talking about you, Mohamed Heneedy (Egyptian Actor) commented on a post on Deadpool, We all know that Heneedy’s lovers are in the cinema right now watching Deadpool.
Take your mom and watch Deadpool movie with Deadpool himself, That encourages Mohamed Heneedy to ask Deadpool that he can watch the movie with his mom without Deadpool in between.
Reply to your haters:
Never ever ignore replying to your haters, don’t cut them off by blocking, Try to be nice with a funny way, Watch how Deadpool reacts to a hater.
Make yourself a parody (Not suitable for all brands):
Deadpool a superhuman (He is not like Superman), He always uses the sense of humor, Deadpool’s marketing team try to use a sense of humor using social media.
Engage with influencers with a funny way:
Deadpool team engages with influencers with a funny way, they are asking Hugh Jackman (Wolverine) about his claw.
Use the events with your own way:
That’s how Deadpool celebrates mother’s day.
Let the fans engage:
Using a hashtag #Tickpics, Deadpool is trying to engage with his fans by showing their tickets.
Deadpool also invites people to go to a pool party and share their photos with Deadpool
Send thanks to your fans, they deserve it.
Exploit the trending:
Deadpool exploits the Oscars by putting his name on all the Academy awards.
Have fun with others:
Ryan Reynolds (Deadpool main actor) made an ad for Hyundai US, Deadpool put a little junk in the Hyundai trunk.
Interact with other movies:
Deadpool team interaction with other films, Like 127 Hours.
127 Hours: An adventure mountain climber (James Franco) trapped in the mountain.
Wait, Wait, Wait, We forgot to say that “Don’t ever like a post you posted”
Marketers, It’s Thursday night, Are you watching Deadpool in cinema right now?
In the middle of a meeting for a marketing team someone shout “we need to create customers need”
Wait, “Create a customer need?! How come!
Of course that you have listened to Cold play’s song “Fix You”, in this song Chris Martin “the lead vocalist” says that “When you try your best, but you don’t succeed, when you get what you want, but not what you need”
Hang on a second! “Get what you want, not what you need”?! What is the difference?
For a decade, marketers think that what people want is what they need, actually it’s wrong.
If we want to describe the word “need” it will be “felt of deprivation”, it’s a human nature such as hunger.
A need could be physical needs such as food, social need such as belonging or individual need such as knowledge.
If we want to describe “Want” it will be “A need that depends on culture or personality”.
Let’s take an example, if an Egyptian guy is feeling hungry and he has two options to eat, first one Egyptian food and the second one is Chinese food, so:
The need: Hunger “Human nature”
The want depends on culture: Egyptian food.
The want depends on personality: Chinese food.
So, should the marketer focus on need or want?
The marketing process starts with marketing research to know the marketplace, needs and wants, then marketing strategy and planning to decide how to reach these customers, then marketing communications to communicate with the target segmentation such as advertising, at the last stage in the marketing process is to capture value in return.
So, the marketing research department should focus on need and want, and the marketing communications should focus on want and demand.
What is demand?
It’s a want based on purchasing power.
So, the last step in the marketing process “Capture value in return” should focus on demand “people who have the power of buying”.
What do you think when someone in the marketing department told you “We will create need”?
TED is a nonprofit devoted to spreading ideas, usually in the form of short, powerful talks (18 minutes or less). TED began in 1984 as a conference where Technology, Entertainment and Design converged, and today covers almost all topics.
In this article we gather the most 8 TED Talks related to marketing field every marketer should watch, let’s start:
1) Seth Godin: How to get your ideas to spread:
In this talk Seth Godin (best seller and the author of 18 books on marketing field) explain how to spread your idea in a world of too many options and too little time:
2) Kevin Allocca: Why videos go viral
Kevin Allocca (YouTube’s trends manager) explain in a funny way how to make a viral video on YouTube:
3) Renny Gleeson: 404, the story of a page not found
In this talk Renny inspire us how brands can use errors like 404 as a chance to build a better relationship.
4) Dan Cobley: What physics taught me about marketing
Do you know that Physics and marketing have something in common?! Yes and Dan will explain that to us in this talk.
5) Seth Godin: The tribes we lead
Seth Godin hits again, the mass marketing is over and now it’s the era of marketing by tribes.
6) Joseph Pine: What consumers want
What consumers want? Joseph will tell us in this talk.
7) Alexis Ohanian: How to make a splash in social media
In a funny 4 minute Alexis Ohanian (Co-founder an executive chairman of Reddit) explain how to make a buzz on social media.
8) Tim Leberecht: 3 ways to (usefully) lose control of your brand
Sometimes brands lose control and Tim offers three big ideas about accepting that loss of control, even designing for it.
What you think about these talks? Think there is a better one? What you are waiting for, Share it with us.
When you asking a startup owner or small and intermediate company owner what is the hardest thing you faced when you make your own private business his answer will be the price.
How can a startup, small and intermediate businesses put the right price for their products and services?
When you are asking a startup owner or small and intermediate company owner what is the hardest thing you faced when you make your own private business his answer will be the price.
How can a startup, small and intermediate businesses put the right price for their products and services?
Historically, the price has been the major factor affecting the choice of buyers, price is the only element of the marketing mix (product – price – place – promotion) that makes revenues, price also the most important elements that determines a firm’s market share and profitability.
Some marketing managers see price as a big hustle. However, smart managers think that price is a key tool for creating a competitive advantage in the market and capture value in return from the customer.
Companies know that, small changes (positive) in prices can affect the profitability with a large percentage, prices also play an important role in creating the relationships with customers (the aim of marketing).
Unfortunately, sometimes companies make a price that is falling somewhere between:
- A price that is too high to create a demand.
- A price that is too low to create a profit.
Companies, must put into considerations the customer perceptions of the product’s value because, if customers perceive that the product’s price is greater that its value they will not buy the product, also if the company put a price for a product below product’s cost the company will suffer, so you can put your price between these two extremes.
There are a lot of pricing strategies in marketing such as competition pricing, value based pricing, penetration pricing…etc.
In this article we will focus on the most known pricing strategy “Cost based pricing strategy” and how we implement this strategy to put a price on a product.
Cost based pricing strategy:
Cost based pricing strategy is the easiest way to put a price for your product or services and it based on adding the costs of producing, distributing and selling the product to a profit margin at a fair rate of return for the company’s effort and risks.
But, first you should know the types of costs that you will add to your profit margin to put a price for your products:
Fixed costs: A cost that does not change with an increase or decrease in the amount of goods and services produced, Fixed costs are expenses that have to be paid by a company, independent of any business activity. (Investopedia). A fixed cost is a basic operating expense of a business that cannot be avoided, such as a rent payment.
Variable costs: A cost that varies depending on a company’s production volume. They rise as production increases and fall as production decreases. (Investopedia)
Total costs: The sum of fixed and variable costs.
See graph (1)
In this strategy, we will add a profit margin percentage to the total cost of a product (let’s see the example):
Variable cost = 20 EGP
Fixed cost = 150,000 EGP
Expected unit sales = 30,000 units
To calculate the unit cost we need to sum the variable cost per unit to the fixed cost per unit (Fixed cost / Expected unit sales):
Unit cost = Variable cost + Fixed cost / unit sales = 20 + 150,000 / 30,000 = 25 EGP
Now, suppose that the profit margin will be 30% on sales so the price will calculated as the following equation:
Cost based pricing = unit cost / 1 – profit margin = 25 / 1 – 0.30 = 35.71
That’s mean the profit per unit will be = Cost based pricing – Unit cost = 35.71 – 25 = 10.71 EGP profit per unit.
Is this the best strategy to calculate the price? Generally no, because any pricing method ignores the external factors such as market demand and competitor price is not likely to lead to the best price.
Thanks to: Philip Kotler and Gary Armstrong.
If you ask many Arab parents if they want to buy a doll for their children what they will choose Barbie or Fulla (they are the same with different attitude and culture) they will say “definitely Fulla”:
With thick black hair and large dark eyes, Fulla is the physical antithesis of Mattel’s blonde, empty-eyed icon of Western consumerism.
And when she steps outdoors, she hides beneath a white hijab scarf and modest ankle-length coat, or even an all-enveloping black abaya cloak, Many Arab parents are happy to see a local girl take on and defeat the might of Western myth-making.
Black-haired Barbie doll that wore a black abaaya and a hijab replacing a western appropriate children’s doll.
Fulla is said to be a “role model” not only because she dresses “appropriately,” but she also comes along with a prayer mat and women-appropriate careers such as Medicine or Education.
Fulla represents a live example for localization, the creators of Fulla NewBoy say the doll represents Arab and Islamic values such as modesty, respect and piety that’s why Arabic children are now choosing Fulla over Barbie.
Fulla was introduced to the MENA market in 2003, within two years of its introduction 1.5 million dolls had been sold.
Compared with Barbie’s improbably pneumatic curves and lanky legs, Fulla’s assets are modest, and never officially on display. Although she is marketed with a range of funky clothes, furniture, jewellery and grooming equipment, to avoid offending Muslim modesty, she has no swimwear.
She wore mini-skirts in a country where women’s clothing was restricted in the most conservative states, and she had a boyfriend in a society that highly appreciated marriage.
NewBoy (The creator of Fulla) see that Arab parents won’t accept Barbie doll because it’s not reflecting what they live, and that’s an external factor.
External factor: is the outside factor that can affect the business like culture, economic environment and legal environment.
In this case we can see the relationship between marketing strategy and planning, marketing communications and marketing research, how?
The marketing strategy and planning take a decision that they will enter the Arab countries and they give a marketing research a Commissioning to make a market research on Arab countries.
The research feedback was included the culture as an external factor so, the marketing planning and strategy named the doll “Fulla” and make a lot of changes to pursuit Arab parents.
Marketing planning and strategy gives the new name and new style to the marketing communications to start making a campaign on the new way.
Don’t ignore the power of external factors in marketing.
I know that at someday in the past you went to Facebook and search for Apple Facebook page and you found nothing, then you went to Twitter and type “@Apple” on Twitter search and you found nothing, then you realized that maybe the problem was Facebook & Twitter search and you went to google.com and wrote “Apple social media profiles” and you found nothing.
There are no doubts that social nowadays play an important role in the marketing department of any company (large or small).
And ignoring social media for companies and brands brings a lot of risks and mistakes, but why Apple doesn’t use social media:
1- Let people make the noise:
Apple reaches to the place of making fans or Apple supporters to create the social media buzz around new product launching through Facebook, Twitter, Blogs and other social media tools.
And the strategy of Apple is to make a conference or event to release a new product and the PR will do the rest.
So, Apple creates social media buzz through fans or supporters, influencers in social media and public relations.
Apple strategy is silence and let people make the buzz instead of you.
2- Apple is the best customer loyalty engagement index of its category:
We know that brands are using social media for different reasons such as build community, increase engagement rate with customers, customer services for clients, sales and increase loyalty and customer retention.
According to brand keys “worldwide research Consultancy Company” Apple is the top customer loyalty engagement index brand in the laptop computers, tablets and smartphone. See Brand Keys customer loyalty index for 2015 here.
Apple thinks that “Why we use social media” while we are the best customer loyalty index.
3- Apple is the most valuable brand worldwide:
According to Millward Brown, Apple is the most valuable brand in the world in 2015 (With 246,992 Billion dollars) and the second brand value change from the previous year (2014) after Facebook (99%) with 67%. See Millward Brown report.
So, Should Apple be on Facebook or Twitter? Why Apple changes the winning equation after being number 1 most valuable brand without using the social media.
4- Good product with a high percentage of word of mouth:
“Every good product I’ve ever seen is because a group of people cared deeply about making something wonderful that they and their friends wanted. They wanted to use it themselves” Steve Jobs.
Yes, one of the biggest reasons to make Apple is so successful is making a good product more than other competitors, they make people happy to use Apple products more than competitor’s products.
When Apple creates a good product, people will recommend Apple to friends and increase the percentage of word of mouth for Apple products.
So, Apple thinks that “why we go to social media while we are creating good product with a high percentage of word of mouth”.
5- Great customer service:
Apple understands that it’s not enough to create a good product only, you must support the best product with great customer services.
Customer services are a big part of social media marketing and Apple offers a great customer servicein other ways not on social media.
6- Apple focuses on marketing and business objectives more than the reaching way:
“Do one right strategic decision with 50 technical moves and you will reach, Do one wrong strategic decision with 1000 technical moves and you won’t reach”.
Apple is focusing on marketing and business objectives more than technical ways.
They think that the aim of marketing is to create long term relationships with customer satisfaction, how we do that? We don’t care, weare just doing it.
Achieving marketing objectives without using the social media marketing is better than using social media marketing without achieving the marketing objectives.
In the past few years people thought that Apple doesn’t have social media accounts because of Steve Jobs arrogance.
People know that Steve Jobs has no social media accounts like Bill Gates and they think that Steve Jobs is arrogant and he didn’t believe in social media.
But after we saw these reasons, definitely changed our thinking.
Achieving marketing objectives without using the social media marketing is better than using social media marketing without achieving the marketing objectives.
Of course you have a reason for Apple not using the social media, share it with us.
Once upon a time in the 1970s and 1980s Cadillac had the most loyal customer in the automotive industry within the United States, Cadillac was the definition of American luxury.
In 1976 Cadillac reached a 51% share of the luxury car market (definitely awesome) but actually there was a huge problem that Cadillac didn’t notice, the problem is that average customer lifetime value was failing and Cadillac customers were getting older (average age 60), although Cadillac’s market share was brilliant, it’s customer equity was not.
What?! Customer equity? What is this word? And what is the difference between customer equity and market share?
Customer equity: the total customer lifetime values of all customers (current or potential)
In a simple way the more loyal the company’s profitable customers, the higher its customer equity.
Market share: the comparison between total sales of specific company in a specific time period and the industry total sales.
So, from the two definitions the conclusion is Cadillac is giving more and more focus for market share without giving any focus for the customer equity and the lifetime value for its customers.
Compare what Cadillac did with what BMW did, we will figure out that:
In the 1970s and 1980s BMW hasn’t got a good market share like Cadillac but, BMW Focuses on customer equity and the lifetime value of its target audience so, BMW target segmentation was young people (younger than Cadillac clients).
BMW starts to invent a youthful car design more than Cadillac’s design, they also start to build a youthful image for BMW as a youth brand, they also make a marketing message for the youth and young people and the result is higher customer lifetime values so, in the years that followed the 70s and 80s BMW’s market share increases.
That’s remind us how Facebook was so serious in trying to buy a Snapchat for $3 Billion in cash to stop bleeding from the declining engagement among its teenage users. (Especially less than 13 years)
In November 2014, Business insider magazine has uploaded a video named “We asked kids what they think about Facebook, and Mark Zuckerberg should be worried”, you can see the video from this link.
As a brand focus on customer equity and lifetime values the same as market share to make your target audience smaller so your brand will have more loyal customers lifetime.
- This article is for intermediate level on Facebook advertising.
- This article is too long.
- If you have another way to optimize Facebook ads share it with us and we will add it to the article under your name.
1) Define your goal before you start:
Before you are going to make a Facebook campaign you need to define your goal first, and Facebook is really helpful at this point because they ask you about your goal before you start your campaign.
Your advertising objective or goal is what you want people to do when they see your ads for instance: Increase website visits, increase Facebook page fans or increase post engagement (Like, share and comment)
So, what are the objectives of a campaign in Facebook:
See Facebook campaign objectives on the next image:
Boost your post: you will boost the engagement rate of your post that you’ve already created (or scheduled) on your page.
Promote your page: increase the number of page likes, your ad will appear to people who are likely to take the action of liking your page after increasing the number of fans your posts will reach your fan base and you can boost your posts to them.
Send people to your website: people will go to a specific destination URL on your website like home page, contact us page or your online store.
Increase conversions on your website: in this objective your ad will appear to people who are likely to do a specific action on your website (ex: register) in this objective you can track conversions but first you must add a code on your website.
Get installs of your app: you want to increase the number of mobile application’s number of installs, and you will use a link to the app store.
Increase engagement in your app: target people who have already installed your app and who you want to use your app more.
Raise attendance at your event: you will create an ad for an event that you have already created, people can add this event to your Facebook calendar and people will get reminders about your event.
Get people to claim your offer: you will create an ad with a discount or special deal you want to provide and you can decide how many people can claim the offer.
Get video views: increase video views.
For business (especially small business) we recommend to use website conversions because this objective will allow you to see how much a new lead costs.
2) Create a smaller audience target:
What is really important from your ad more than the number of potential reach is the actual reach, so, try to make a specific target audience and break up your audience into smaller groups in advertising.
We think that your potential reach will be so good if you target 100,000 : 250,000 (not so big or so small).
3) Use right column ad to brand awareness and newsfeed (desktop – mobile) for increasing sales:
When you are starting to make a Facebook campaign or any other marketing campaign you start thinking about the campaign objectives, is this campaign for brand awareness or generate leads, sales and footfall to your store?
Actually, we recommend to use the right column ad for brand awareness, you will get more impressions than the newsfeed (definitely less CTR), and use the newsfeed (desktop – mobile) for generating leads, sales and footfall to your store, you will get impressions less than the right column but higher CTR.
4) Separate your mobile ads from desktop ads:
When you are going to make a campaign try to make two separated ad sets (in the same campaign) one for a mobile newsfeed only and the other one for desktop newsfeed, why?
- This will help you to give more focus for mobile newsfeed than desktop newsfeed in bidding. (Because people are using Facebook from mobile more than desktop)
- This will help you to define what is more effective for you, desktop or mobile and you can define your target audience by the device.
- When you are using the OCPM model Facebook will optimize the impressions to mobile more than desktop.
5) Segment your audiences using ad sets:
No one will click on your ad if he hasn’t any interest in your subject, so you should make a segmentation of your target audience.
Let’s take an example, you are an owner of a sports website so you have different target segmentation (for instance football and basketball), you will start a campaign named sports with two different ad set (Not only a one ad set) for basketball and football, because people who have an interest in football maybe they don’t have an interest in basketball and vice versa.
So you will create a one campaign (sports) and divided it to two separated ad sets one for football and one for basketball.
This option will allow you to optimize your Facebook ads depends on the interests.
6) Use conversion pixel:
If your goal is to increase conversions (ex: registrations) on your website you should use conversion pixel on your website then you add it to Facebook ad.
How to use a conversion pixel: (Based on Facebook)
(A) Create a pixel:
(A-1) Go to Ads Manager.
(A-2) Click conversion tracking on the left side.
(A-3) Click on create pixel.
(A-4) Choose the type of action that you want to measure.
(A-5) Click create pixel.
(A-6) Copy the code and add it to your website (or send it to your developer and he will paste the code). (Look at the next point to know how to paste it).
(B) Paste the pixel on your website:
Paste the code between <head> and </head> on the web page where you want to track conversions. (Confirmation page or thank you page)
Confirmation page: the page that people go to it after a specific action (register).
(C) Choose campaign objective:
When you are creating your Facebook campaign choose (increase conversions on your website) then paste your URL (the confirmation page) and choose your pixel code.
(D) Measure your success:
(D-1) Go to facebook.com/ads/manage/reporting
(D-2) Click on customize columns.
(D-3) Click on websites on the left column.
(D-4) Website actions.
(D-5) Remark on registrations then click apply.
7) Create a custom audience:
What is the custom audience?
Facebook defines custom audience as (people that visit your website – people who use your mobile app)
How can I create custom audience?
(7-1) Go to audiences on the left column on Facebook ads manager
(7-2) Create custom audience
(7-3) Click on website traffic
(7-4) Accept the terms
(7-5) Copy the code and replace it between <head> and </head> in your website
(7-6) Click on create audience
(7-7) Choose a website traffic option
(7-8) Write an appropriate description
(7-9) Click on create audience
(7-10) Facebook will thank you for creating a custom audience (finally, thanks god)
Lost? See the images below:
8) Calculate a cost per lead for Facebook advertising:
Every time that you create a Facebook campaign you will see that Facebook is calculating CPC (cost per click), CPM (cost per mile or thousand impressions) and these cost indexes are important, but the most important index is Cost Per Lead (CPL: the cost of acquiring a new sale).
Every time when I was with a group of marketers I heard them talking about how much should I spend on Facebook advertising?!
The answer is easy: spend less on each customer you get through Facebook ads.
You should care about cost per lead more than any other costs when you are making a lead generation marketing campaign.
So we need to calculate the cost per customer, but how?
It’s a simple equation:
Cost per lead = Ad spend / Total number of leads
So if your ad spend was $1,000 and the total number of leads equal $100, so the cost per lead will be $1,000 / $100 = $10
So you pay $10 to acquire a lead.
Try to use these steps and if you have another way to optimize Facebook ads write to us.
Google is an amazing consumer’s success story & now many people use the word “Google” as a verb for searching for something.
Google is famous because those millions of people each day turn to Google for answers to their questions.
In the marketing field marketers use Google as the best tool for pull communications strategy, but there are a lot of reasons to make Google AdWords not the best tool for your marketing strategy:
(There are reasons to avoid and reasons you can’t)
1) No one is searching for your products & services:
I know that people are using Google or search engines to find something specific and marketers using Google AdWords depend on average monthly searches for a specific keyword, as a marketer imagine that the number of average monthly searches of your targeted keywords are too small to target what you will do?
2) You don’t have the right marketing budget:
Like any online marketing tool, Google is an auction based marketing tool so your ad appears based on auction between advertisers, if you don’t have a budget to make a competition with other advertisers your ad unfortunately will not get any click.
Of course I know that Google AdWords also depends on technical issues (making a brilliant campaign) but we are talking here about what if these technical issues are equally between you and another competitor, yes exactly, Google will prefer to show the ads of highest bid.
3) Your landing page sucks:
When you make a perfect Google AdWords search campaign and you don’t have a perfect landing page you are wasting time and money.
Try to remember that your user’s hand is always on the exit button because they don’t want to waste a minute on a website (landing page) that didn’t offer any value or information, so your mission as a marketer (using Google AdWords) is to make a perfect landing page that relevant to what your ads offering.
4) You are starting to launch a new product or a new business:
If you are sitting beside a marketer that loves pull communications strategy he will try to convince you that “Push marketing is dead”.
Definitely pull marketing has advantages & disadvantages also push communications strategy!
As a marketer, you can’t ignore the advantages of push communications strategy when you are launching a new business or a new product, especially in the case of no one are searching for your products.
So our advice to you is to use push communications strategy first, then start using pull communications strategy after people recognize you and start searching for you using Google.
5) One campaign with lonely ad group with a great list of targeted keywords:
When you are setup a Google AdWords campaign try to make a lot of ad groups with targeted keywords.
If you are a cloth shop and you are selling a casual and formal clothes when you are going to start a campaign on Google AdWords make a two separate ad groups the first one for casual clothes with its targeted keywords and a separate landing page and the second one for formal clothes with its targeted keywords and a separate landing page.
Try to use Google AdWords with the smart way you can and think like a person that uses Google for searching.