The impact of GDPR for Creative and Marketing Agencies

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General Data Protection Regulation (GDPR) is another arrangement of norms intended to fortify the control people have over their own data. From May 2018 it will be a lawful necessity for all organizations to hold fast to the regulations set up or confront an overwhelming fine up to €20 million or 4% of an organization’s worldwide yearly pay (whichever is the bigger sum). To put it plainly, you would prefer not to do business without using it.

Data is everything in advertising and marketing. It gives an understanding into the customer; their identity, what they like, and what they need from an organization. Be that as it may, in reality as we know it where ‘data is the new oil’, here are a couple of focuses for advertisers to hold up under at the top of the priority list and how GDPR impacts marketing agencies.

  1. The nuts and bolts

Under European Parliament, GDPR will ensure individual data for all people inside the European Union (EU). This incorporates the fare of individual data outside of the EU. Individual data can be anything identifying with a person inside their private, individual, or open life. This incorporates names, photographs, posts via web-based networking media destinations, or a PC’s IP address.

  1. A brisk outline

The data subject (singular buyer) should expressly pick in to enable individual data to be prepared – pre-ticked boxes, or a presumption that assent is given naturally, won’t be adequate. Associations should be particular about what will occur with the data. A data subject has the privilege to withhold assent for their data to be handled, and the association ought not prevent them from utilizing an administration on the off chance that they do as such.

The following of assent is required. The data controller (association that gathers the data) must know when assent was given. Data subjects have the privilege to get to data gathered about them and a “right to clarification”, in which they can inquire as to why an algorithmic choice was made about them. Associations must delegate a data protection officer, who has the duty of guaranteeing the association agreeable with GDPR.

  1. The likelihood of ‘backing off’

A few decades ago, data in promoting and publicizing alluded to basic things like socioeconomics and reaction rates. Quick forward to today, we live in an interconnected existence where data is all over. Coordinating and catching this data empowers organizations to fabricate brands, and drive advancement and deals. An ongoing report by DataMeer found that client investigation made up 48% of huge data use in deals and showcasing.

  1. Adjust to survive

There’s no doubt that GDPR will shake up the advanced advertising scene. So, it is vital for organizations to guarantee they are prepared to actualize the progressions important to consent by May. With the likelihood of a back off in the movement of promoting guarantee your business is prepared to adjust and move keeping in mind the end goal to handle this. Don’t simply acknowledge it, do what you can so as to drive business improvement and deals.

The Importance of Market Research for New Business Ideas

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I know from the title you might be thinking this is a common-sense topic that you already know a ton about, but time and time again people throw all their chips in on their business without checking if there’s even a market for their product. They get a good idea, their friends agree it’s a good idea, and before you know it they’ve quit their job and gone in debt up to their eyeballs trying to get their little idea off the ground only to discover it wasn’t that original to begin with.

 

There’s nothing new under the sun! If there’s one thing you take away from this post, please let it be that! I don’t care how innovative you think your idea is, there is a 99.9% likelihood that someone has thought of it before and tried to do something about it. The iPhone wasn’t the first smartphone and Facebook wasn’t the first social media site to ever exist.

 

The aforementioned examples weren’t successful because they were the first. They were successful because they popularized their respective concepts. They made it shiny and attractive to the masses, and that’s what your goal behind market research should be.

 

Market research should be conducted before you start your business! I don’t care what anyone else says, you need to have some sort of a business plan before you actually start your own business. Don’t be ashamed of working at McDonald’s while you pursue your business idea. It may slow you down, but it’s always smarter to have another job lined up before you quit the one you have.

 

How to Conduct Market Research for new business ideas

 

Researching your idea’s marketability isn’t just using Google to see if your specific idea exists already or posting your idea to a forum and seeing how many people flock to it. You can’t just spend half a day researching the topic and expect to truly understand how well your idea will sell.

 

You have to research anything that’s even remotely similar to your idea and use your findings to realistically extrapolate the demand your product can expect to receive once it’s on the open market. While doing this, you need to delve deep into the reasons similar ideas succeeded or failed and critically look at your product in the same light.

 

Don’t be afraid or too cheap to hire some outside help. There are a ton of market research companies out there that are professionals at what they do. They’ll be able to look at your idea in a more objective and critical light than anyone else will.

 

All in all, if you really have faith in your idea then you shouldn’t be afraid to put the time and money into making sure you do things right. This can be achieved by doing the right kind of business research for new ideas.

What percentage of Revenue Do Publicly Traded Companies Spend on Marketing and Sales?

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Sales and marketing are very essential when it comes growing your business. Simply getting your products or services to the marketplace isn’t good enough; you need to have an effective plan and budget for how you will get more customers and how to maintain your existing customers. There are several options that are available to business owners out there. You can either make use of you in house marketing and sales team or employ the services of a third-party company to help you with sales and marketing in your business. Publicly traded companies just like most business types out there, need the services of the right kind of marketing and sales company.

In order for anyone to fully understand the right amount of money spent on marketing and sales, it is first important to note the amount of money that comes into the business as revenue. This depends on the type of business and the industry in consideration. It is an obvious fact that the amount of money you wish to spend on your marketing and sales will drastically increase with how much you make. This simply means your first focus should be in creating more valuable products and services, which are useful to the marketplace, as this will guaranty more revenue for your company.

Spending the right amount of money on marketing and sales can put you ahead of your competition. If we take a closer look at publicly traded companies, we realize that there is no standard definition for such companies, this basically means it depends on what products and services you provide for your customers,

The need for having a strong sales and marketing team for publicly traded companies

Being able to create a strong sales and marketing team is important in any business. This can help your business grow within the shortest possible time. It is worthy of mention that you need to invest a reasonable amount of money to in sales and marketing, if you wish to succeed in a competitive marketplace. This has to do with creating the ideal sales infrastructure for your business.

The Ten Percent Rule

When it comes to the percentage of revenue spent on marketing and sales by publicly traded companies, then it would be important to consider the widely used 10 % rule. Keep in mind that this doesn’t have anything to do with the amount of money you make as revenue. Another important point to consider when looking at these numbers is how long the business has been in operations. If your publicly traded company is just in it’s infant stage, then it is safe to say you are going to need to spend more than 10 % of your revenue on marketing and sales. This figure is not fixed, as you might need to spend more money as a startup. Well-established businesses such as Google, Apple, and Facebook wouldn’t worry too much about spend money on sales and marketing, as many know their brands. A small business however needs to increase this percentage to succeed

Why Traditional Marketing is Still Effective

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Let’s not forget the traditional marketing methods are highlighted for those who are not aware of the older tried and true strategies. Recently, there has been a massive increase in advertisements on television for dot com businesses and various other companies promoting their websites to much larger audiences. Let us take a look at some of the popular traditional marketing platforms and why they are still effective.

 

Effective traditional marketing methods:

 

Television

This is an old, but reliable marketing medium. Television is providing a huge audience with mass exposure to a mass message. Most people really don’t know that television is one of the most affordable (note that I did not say the cheapest) advertising methods. The main advantage of television would be the fact that it covers audience, audio and visual.

 

Newspaper classifieds

For a long time, this medium has been very popular and it’s an excellent way to target clients for an affordable cost. As an example, in case you would like to promote a business opportunity, you could put it where you find job listings. But word it carefully so you do not attract job seekers. What you want are entrepreneurs.

 

Radio

This medium is ideal for many things, and it can be a good fit for website promotions. The trick is that you have to have a very simple URL and you need to repeat it many times over to drill it home to your audience. If you are brave enough, try to attach it to a catchy tune so that people will remember it more easily.

 

 

Yellow Pages

The yellow pages have grown to be the popular medium that most people use to find certain business. You can get more benefits from being in multiple sections and remember that the yellow page directories can be promoted in other cities. When you consult a salesperson, you can get help to target your offerings to the best advertising places.

 

Brochures

This is another great way for you to advertise your business using a traditional medium. When you print them, you can use them for multiple purposes such as using them as a double for mail-out postcards. If you are operating a business in the tourism or travel industry, you definitely have to take advantage of brochures.

 

Sending postcards

You can send out postcards to your existing customers. Even though it will not cost you much, this will be a very personal and nice way to let existing and new clients find out about your site. For it to be more effective, you could try promoting products or services for special price to help drive consumers to your website. Freebies or contests also work exceptionally well with this type of marketing.

 

As you can see, there are many traditional marketing methods that you can take advantage of when you want to promote a business, product or service in the 21st century. Using this method for marketing is also cost-effective.

Marketing and advertising trends in 2024

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It is a well-known fact that building a successful business in the 21st century requires a lot of sacrifices. Coming up with the right business idea is usually not enough, you need to be able to do a projection of how your products and services will reach your target market. Doing a feasibility study usually helps with this regard, which should give you an idea of how your business will grow. Marketing and advertising are basically important when it comes to growing any type of business, new or existing business.

After designing or acquiring a product or service, you need to be able to market it properly to reach the right audience within the shortest possible time. Times have changed and the innovations brought by Information and Communications Technology is gradually changing the way we do things, from our business to personal life. The use of traditional marketing tools such as TV, radio and billboards are gradually decreasing, as most people are turning to IT marketing tools for solutions. Let us consider some important marketing and advertising trends in 2024.

Live video to the rescue

One of the marketing and advertising trends making waves in 2024 and beyond, is the use of live video. This is even more so because more people are beginning to appreciate the power of video content now more than ever before. Using platforms such as YouTube and IGTV, which is the newly introduced video sharing platform by Instagram, business owners can reach a larger audience. It is ideal to say that live video is a wonderful way of putting useful content out there. More business owners are already joining the trend.

Social media integration

The use of social media is also gaining a lot of attention, and business owners are not left out of this trend in 2024. Social media marketing has seen a tremendous growth over the years, with popular platforms such as Facebook, Twitter and Instagram gaining more users every single day. Using the right kind of social media marketing and advertisement tools, you can grow your business within the shortest possible time. With technologies such as Artificial Intelligence and Machine Learning, social media marketing and advertisement keeps growing. Using Machine Learning and Artificial Intelligence, customers and business owners can get the best experience. This has made it possible to create marketing and advertisement products, which are tailored to the specific needs of customers.

Virtual reality and Augmented Reality

Virtual reality and Augmented Reality are two emerging technologies that are used for marketing and advertisement in today’s business world. Virtual Reality or VR, which creates a virtual environment using images of objects or animals can be used for marketing or advertising. There are several VR-enabled applications today on various App Stores for smartphone users. This has made it an ideal avenue for creating products and services around this technology. Augmented Reality and Virtual Reality are ideal for marketing and events such as product launches.

How to Use Facebook Marketing for Business Profits

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Through the years, Facebook marketing has been one of the most important and key players in the world of Internet marketing. Since its birth in the year 2005, Facebook has taken the world by storm and is now considered the world’s largest social networking site with millions and millions of members all over the world.

Nowadays, Facebook is not just only a mere social media networking site. It has been used by the majority of business owners worldwide to market their products and services online. More and more entrepreneurs have learned to understand how Facebook marketing can bring in sales and success to their business by providing massive flow of traffic towards their business.

 

With Facebook now playing a major role in the world of Internet marketing, the “old school” ways of marketing a business are long gone. Indeed, Facebook marketing and Facebook advertising have overhauled the face of internet marketing and is still growing popular among entrepreneurs who want to leverage the power of the internet and social media to boost their business’ success rate.

 

How to Make Your Business Stand Out Using Facebook Marketing

Generally, there are millions of pages on Facebook and standing out among them would be the main question for the majority of people who venture in social media marketing. Standing out on Facebook is fairly simple. There are lots of simple strategies that can make your business stand out in the sea of Facebook pages. First, you have to establish an image online. You can start by having a large profile photo for your Facebook page. You can make use of your business logo or create an eye-catching and persuasive banner as your profile photo. You will attract and get Facebook fans in a short amount of time.

 

Next, you can integrate Facebook within your website or network of websites. With Facebook integrated to your website, people can share, like, and recommend your website or articles to their circle of online friends. This is a good way to make your business go viral and catch the attention of prospect clients and customers. Facebook marketing is indeed a great way for website owners and Internet marketers to promote their products.

 

Stay Updated With Facebook Marketing.

As much as possible, update your Facebook page on a daily basis so that your content is fresh and up to date. You can further develop and expand your network by visiting other pages and leaving sensible and high quality comments. By just simply commenting and liking posts, you will increase the chance of gaining new followers or fans on your page. Larger network of followers means a huge chance that your business will be successful.

 

Facebook Marketing: How to Maintain Healthy Relationships??

When you are running a Facebook marketing campaign, it is advisable that you must constantly communicate with your fans. Constantly providing them with