Business and marketing analysis techniques

Learn techniques to get more rich, useful information out of your data using Excel, and take the next step to build a rich profile of data-driven marketing techniques. Since market research plays a big part at iAcquire, there is always a bunch of data collected to learn about the market.

Business and marketing analysis techniques

Once you have your ideal customer, you'll have a plethora of techniques to pick from. When you build a business, the first thing you want to secure is a customer base.

With a decent printer, a phone and an internet-connected device, you can put together a fairly extensive advertising campaign without having to pay for space.

We'll look at seven of these small business marketing techniques in more detail. Flyers This is the carpet-bombing method of cheap advertising. You find an area that you would like to do business in, and you distribute flyers to all the mailboxes within reach.

Your flyer should be brief and to the point, highlighting the services you offer and providing contact information. Offering a free appraisal, coupon or discount never hurts. Posters Most supermarkets, public spaces and malls offer free bulletin board space for announcements and advertisements.

This is a hit or miss method, but you should try to make your poster reasonably visible and have removable tabs that the customers can present for a discount. Make each location a different color so that you can get an idea from the tabs where the most leads are being generated.

If there is one area that is producing the majority of your leads, you can better target your campaign flyers, ads in local media catering to those areas, cold calling, etc.

Value Additions This is one of the most powerful selling points for any product or service. On the surface, value additions are very similar to coupons and free appraisals, but they are aimed at increasing customer satisfaction and widening the gap between you and the competition.

Often the deciding factor for a person picking between one of two similar shops is whether he or she has a point card or preferred customer card. When you are making your advertising materials, the value additions should be highlighted.

Referral Networks Referral networks are invaluable to a business. This does not only mean customer referrals, which are encouraged though discounts or other rewards per referral. This includes business-to-business referrals.

When dealing with white-collar professions, this network is even stronger. A lawyer refers people to an accountantan accountant refers people a broker, a financial planner refers people to a real estate agent.

In each of these situations, the person stakes his or her professional reputation on the referral. Regardless of your business, make sure you create a referral network that has the same outlook and commitment to quality that you do. As a final note on referral networks, remember that your competition is not always your enemy.

If you are too busy to take a job, throw it their way. Most times, you will find the favor returned.What is business analysis? - Learn the basic methods and techniques of business analysis.

Marketing strategy is a long-term, forward-looking approach to planning with the fundamental goal achieving a sustainable competitive advantage. Strategic planning involves an analysis of the company's strategic initial situation prior to the formulation, evaluation and selection of market-oriented competitive position that contributes to the company's goals and marketing objectives.

Business and marketing analysis techniques

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Join Haydn Thomas for an in-depth discussion in this video What is business analysis?, part of Business Analysis Foundations. The iMBA program at the University of Illinois is built around 7 key specializations each dedicated to teaching you a critical business skill.

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