Tools for Managing your Online Presence
As a digital marketer it is important that you understand the concept of customer relationship marketing which can be defined as a business process in which client relationships, customer loyalty, and brand values are built through marketing strategies and activities.
As a digital marketer it is important that you understand the concept of customer relationship marketing which can be defined as a business process in which client relationships, customer loyalty, and brand values are built through marketing strategies and activities. It’s a long-term strategy focused on the customer relationship over time and not on one single transaction. In order to create such a strategy, digital marketers must understand how demographic groups such as the Baby Boomers, GenX, Millennials and Gen Z interact with digital technology. Equally important is developing a global vision of trends that impact and shape generations today. These trends fall into three main categories: parenting, economics and technology.
Through technology, the world has become smaller and more connected and with access to the internet on the rise, any firm, no matter how small or large can sell products and services online on a global scale. Having a global view as a digital marketer is critically important. You will need to develop an understanding of different target markets and their respective buying behaviour around the world. Knowing how consumers are making decisions is a core activity of marketing managers and an important element to maintaining business success. To assist with this, marketers collect and compile customer insights from various online sources in order to better understand how digital technology is changing consumer behaviour.
Marketing research is conducted as a means to understand the customer, the company and the influence the environment has on a business. To do this well, a marketing research process needs to be followed. This process defines the tasks to be accomplished in conducting a market investigation and includes the following steps:
- problem definition,
- planning the design,
- gathering secondary data,
- specifying the sampling procedure,
- collecting primary data,
- analysing the data,
- report generation,
- and follow up.
In this module we also explore five methods that a business can use to enter global markets. These include:
- licensing and franchising,
- contract manufacturing,
- joint ventures
- and direct investment.