Marketing Success Defined

Written by Mark Levit


How do you personally define success? High income? Substantial net worth? A fine home? Peer recognition?

On a personal basis, there are likely almost as many definitions of success as there are people inrepparttar world.

In marketing, though, there are just four measurable elements of success:

Profitability, Market Share, Customer Satisfaction and Customer Retention.

Profitability requires little explanation. The very reason businesses exist is to make a profit, or generate more revenue than they pay out. Profitability may be increased by reducing overhead andrepparttar 119922 cost of goods sold—or by increasingrepparttar 119923 price torepparttar 119924 buyer.

But prices can only be raised so much. Perrepparttar 119925 laws of price elasticity, as prices rise, unit sales tend to decline, as does Market Share; which brings us to our next measure of marketing success.

Market Share, as a measure of success, is important to marketers sincerepparttar 119926 greaterrepparttar 119927 share,repparttar 119928 more stablerepparttar 119929 brand’s performance is inrepparttar 119930 marketplace. A product with 65% market share is a force with which to be reckoned. A product with 3% share is vulnerable to a variety of market factors such as competitive pricing, promotions, loyalty to better-known brands and more.

Financial managers understandrepparttar 119931 impact of Profitability and Market Share. But concepts such as Customer Satisfaction and Customer Retention are softer items and tend to be treated as lesser by those managers. Yet,repparttar 119932 long term success and growth of a brand is highly dependent on them.

Customer Satisfaction doesn’t appear on a balance sheet. It can’t be measured in dollars and cents. It’s measured byrepparttar 119933 customer’s feelings about a brand. Doesrepparttar 119934 brand deliver its promise? Is it a good value? Does it bring status torepparttar 119935 owner? Isrepparttar 119936 customer generally happy withrepparttar 119937 product? Customer Satisfaction begets repeat purchases, loyalty, word-of-mouth advertising and, of course, long-term profitability via Customer Retention.

Get Your Money For Nothing

Written by Denise Hall


You've probably heard them all. You know,repparttar "make $1,000 while you sleep without doing a lick of work" BS pitches. Well, let me tell you, it doesn't happen that way.

If you want to make money online you must work! There's no way around it. But, there *are* ways to make money with *very little* work. It *is* possible to make a passive income, and a very good one at that.

I'm not talking about "get rich quick" schemes orrepparttar 119921 current trend, "money doubler" programs. (Byrepparttar 119922 way,repparttar 119923 US Federal Trade Commission considers money doublers a form of illegal gambling.) No, what I mean is earning money while doingrepparttar 119924 work one time, or with very little maintenance on your part.

If you sell memberships to something, for instance, you'll earn a passive income fromrepparttar 119925 recurring commissions of those you sign up. Anything that gets paid to you on a regular basis, such as web hosting services, is a passive income.

It's "passive" because you soldrepparttar 119926 service or membership once, but you'll continue to get paid as long asrepparttar 119927 member or customer keepsrepparttar 119928 service. This kind of income is also "residual," meaning it keeps recurring.

But there are other types of passive income, too. Using programs like Google AdWords and Google AdSense, for example, will bring you a passive income. How?

By displaying Google AdSense ads on your website, you'll earn money every time your visitors click on an ad. And by creating ads for your products with Google AdWords, you'll put your advertising on autopilot. People who visit your website or sales page may become a customer or subscriber to your mailing list.

While both of these can bring you a good passive income, they do have some minor drawbacks.

Google AdSense (https://www.google.com/adsense) ads pay you every time someone clicks an ad, but you may get only a few pennies per click. That means it'll take a long time to add up torepparttar 119929 $100 minimum payout for you to collect your money.

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