Increasing Profitability by Developing an Internet Footprint
Organizations and enterprises are faced with different challenges as they increase their market share, growth their business, interact with customers, and seek new markets. Some of the challenges that affect the competitiveness and performance of organizations include changing customer needs, changing political and economic environments, and the changing technological landscape. Over the last 50 years, technological advancements have facilitated the growth of businesses and interactions between businesses and different stakeholders (Bailey, 2011).
In order to overcome some challenges to their business processes, organizations should embrace technological platforms that improve their communication and processes. The internet and internet based platforms have played a crucial role in advances in the business. They have expanded business activities to global spheres. An organization can increase its profitability by developing an internet footprint. Through this approach to marketing it will be possible for the company to ensure that it has a high presence and traffic in its website and social networking sites. An advantage of this increase in traffic will not only guarantee an organization an increase in its market share and customer base. It will also act as a platform for increasing sales and profit margins.
The last ten years have been characterized by an increase in the number of businesses or organizations that use internet-based platforms and resources to increase their profitability. For instance, businesses are using social media platforms and websites as communication and multi-channel marketing strategies. In order to enhance their business processes, organizational are establishing social media and website marketing and communication strategies that are fool-proof (Büchner & Mulvenna, 1998). In this case, the objective is to create an organizational website, which will increase the presence of the organization on the internet. The levels of competition within the marketplace require organizations to use their resources to increase their market position and presence.
A website can help the organization reach a wider target market. The creation of a website and the use of tools such as search engine optimization have the potential to increase sales, customer interest, and profit margins. The objective is also to show the CEO and other stakeholders that the organization’s potential profitability can be achieved through the use of website and web-based advertising. M-GlobalX is a company that has continued to exist as a major player in the banking and financial markets. For the company to continue with its relatively high profit levels it is important that it increases its presence on the internet. This is based on the understanding that it is only through the internet that information about the services and products offered by the company can be available to individuals separated by geographical boundaries.
Description and Background
M-GlobalX is a United States that specializes in the provision of professional and individualized investments services, financing, financial planning solutions to commercial customers and private companies. Being a company whose services transcend the United States boundary, M-GlobalX has been instrumental in the provision of investment services to the public and private sector and the best methodologies that different companies and individual can use in the identification of the most appropriate investment opportunities. Specialized services that the company offers include; equipment leasing, merchant banking, infrastructure projects, real estate assets and energy sector joint venture development.
Technology has a central role in the advancement of business processes and improvement of an organization’s profit margins. It is essential for M-GlobalX Company to embrace and exploit technological platforms that will increase sales, customer interests, and profit margins (Hamill, 1997). The establishment of an internet footprint through websites, social media, and web-based advertising will augment existing promotional and marketing activities. In addition, it will also provide the company’s employees with a platform of understanding their roles and responsibilities on matters related to the effective use of the internet as a marketing platform. The main objective of establishing internet footprints through different marketing platforms will be to ensure that more customers are attracted to the services and products offered by the business. This will mean that for a company that the internet will act as a platform where consumers and the business meet and share information which can be used in the development and sales of more products and services to improve on company sales (Roberts & Zahay, 2012).
The scope will be limited to major stakeholders. The report will focus on major stakeholders with the intention of showing them the importance of internet or web-based advertising. The major stakeholders in this company include the customers who access the services and products provided by the business. It is the sentiments and views presented by these customers that will provide the company with the most effective parch that can be used in boosting sales and improving on the company’s market share. The employees form an essential part of the company since they engage in the production and sales of different products and services offered by the company. These individual interact with customers hence they have knowledge and understanding of the expectations of the customers. The management will be essential stakeholders due to the decision making role that they play as a way of ensuring that the organization takes the direction that guarantees some form of growth and development.
How to Increase Internet Footprint
(Generate U.K, 2015).
This image shows how the organization can increase its internet footprint. The first step requires goodwill from leaders. Support from the organization’s leadership will lead to the design and creation of a website for the organization. The support of the leadership which largely comprises of the management will facilitate the development of some form of ownership of any online marketing strategy that a company develops. This does not mean that the leadership will only be engaged in the provision of support to ideas presented by employees of departmental heads. Instead, as the decision making body, the leaders have the responsibility of assessing the viability of any marketing strategy in relation to its ability to realize the goals and objectives of the company in relation to the existing budget.
Search engine optimization (SEO)
The development of an effective website is considered as an essential aspect in boosting the presence of a company on the internet platform. One of the ways that provides a company with high traffic within the online platform is the incorporation of SEO makes the website easy to access and easy to understand for the users (Miletsky, 2009). This is because it provides these users with the possibility of understanding the contents of each webpage and its usefulness to the said user. An additional role of SEO is that it can help the company in advocating for widespread popularity. This is based on the understanding that it is only through this approach that more potential and actual customers of the organization that frequent the internet will be able to acquire information about products and service of the company that are relevant for their needs. M-GlobalX will therefore have to work on the best ways that SEO can boost the website of the organization into top page rankings (Miletsky, 2009).
It is possible for the organization to conduct SEO through different link-building strategies. The use of the most appropriate keywords, the development of networks with the existing online communities and the optimization of website contents can be considered as techniques that will facilitate the process of improving on the company’s presence online. These will also help in ensuring that its website dominates the first page of the frequently used search engines such as Google, Bing and Yahoo! By being part of the most popular search engines, it will be possible for M-GlobalX to enjoy access to more targeted customers, more advertising agencies will also want to rent the company’s web space. This will provide the company with a steady online traffic which will not only increase its market share; it will also be a guarantee of more profits. The idea that the company’s website should be part of the first page of frequently used search engines is based on the findings that about 90% of web users do not go past the first page of the search engine results. Failure by the business to engage in practices that guarantee additional presence on the internet platform would mean that the company will be losing in terms of the potential revenues for not being found in the first page of search engine results.
The effectiveness and efficacy of online marketing is founded on the ability of an organization to measure results. If a company decides to invest in internet marketing, it must have the ability to determine the difference between the amount of financial resources invested and the returns. Web analytics is the only solution that will help in the collection and analysis of reviews and reactions from customers (Miletsky, 2009). Through this approach to analyzing the statistics generated by different search engines, it will be easier for the company to develop future internet marketing strategies. This is because these strategies will be based on information derived from the internet. In addition, the information generated by the analytics will also provide the company with a platform of assessing the viability of the products and services in the realization of customer objectives and the objectives of the company.
An additional essence of web analytics in boosting M-GlobalX’s internet footprints is that it will provide a comparative analysis of different strategies that the company has used and the results generate. In addition, through web analytics it will be easier for the company to assess the process of its competitors on the online platform. This will facilitate the process of developing better strategies that will guarantee the company a competitive advantage. Frequents web analytics acts as a guarantee that the company through endless and continuous efforts will be able to develop better strategies. These will ensure that the company extracts the essence of its online targets which will provide a clear summary of its processes and results (Miletsky, 2009).
Online shopping websites
Most organizations face challenges with the promotion of their products and interaction with their customers. These challenges reduce the performance and competitiveness of these organizations. The rapid technological advancements provide challenges to many organizations because they must update their technological hardware and software to existing standards. These advancements have led to a situation of market volatility. Changes, mainly in customer trends also present several challenges to organizations as they seek to promote their products. Over the years, customers and large sections of the market have shifted to internet platforms to shop for products (Holland, Diehl & Herrmann, 2013). Web sites such as E-bay and Amazon, in addition to other web sites owned by different retailers, have contributed to the shift to online shopping. As a result, companies that seek to create a market share or expand their market position must participate in online marketing. Businesses have started using online-based resources for their internet marketing. Internet marketing enables these businesses to reach global markets and audiences.
Online marketing serves as the best technique that any online company can use to ensure that it is effective and highly operational in terms of the distribution of its products and services. M-GlobalX can ensure the optimization of this platform by linking different online marketing companies to its website. Through such links the company can develop videos, books, and articles that provide the target customers with information regarding a particular service or product of interest. Providing customers with such products will also boost their ability of the company to reach out to customers in areas where M-GlobalX is yet to establish its offices. By reaching out to such customers it will be easier for the organization to improve on its profit margins considering an increase in its customer base and the provision of variety of products
Organizations have realized that trading online is fast and easy because it enables them to sell or focus on a global market. Social media platforms and company websites help businesses to target and reach a wider market. For instance, the Chinese website Alibaba, which is an online business to business, customer to customer, and business to customer sales service provider has connected millions of customers to manufacturers and suppliers of products and services. This shows that web-based marketing allows business to market to a global audience (Jones, 2008). Platforms such as social media provide opportunities for customers to provide their feedback about the level of customer service and quality of products or services. This feedback guides companies that use online marketing to improve their services or products.
Changes in consumer trends have led to a shift from making calls for ordering to ordering through websites. Currently, consumers use relative consumption. This trend is characterized by the use of web-based resources to find information about products and services. They peruse reviews from other consumers and seek recommendations from their peers through the internet. The internet also enables people to shop regardless of their location (Ook, 2000). The organization should maximize the visibility offered by social media and internet platforms to increase profit margins, sales, and customer interactions. In order to successfully use internet resources for marketing, the organization should consider training employees and forming teams that will manage the firm’s website.
Social networking sites
It is possible for M-GlobalX to maximize its internet footprint to the utmost level through social media marketing. This facilitates the development of an effective marketing platform because of the ability to engage the customers in virtual platform that allows for among other aspects the need to engage customers in some form of conservation (Roberts & Zahay, 2012). Social media marketing platforms can provide M-GlobalX with a platform of ensuring that customer services are of high quality. In addition, through this platform it will also be possible for the company to receive feedback from the customers in ways that will increase the possibility that the said customers will acquire the necessary satisfaction from the goods and services that they purchase from the company. In addition, through these platforms it will be possible for the company to respond to customer feedback (Gay et al, 2006). Timely and relevant responses will guarantee the customers that the company’s interests are focused on customer satisfaction. Through social media marketing it will be easier for the business to find the right market for its products and services while at the same time ensuring that the popularity increases to the rest of online industries (Miletsky, 2009).
Social media platforms such as Facebook, Twitter, You Tube, Instagram, Pinterest and LinkedIn among other sites have become platforms of interaction and communication between different members of the society. This has been facilitated by constant development of the internet and innovation in terms of the devices that are internet enabled (Roberts & Zahay, 2012). In the contemporary society the development of smartphones, portable computers and microcomputers has made it easier for the different users to access the internet and engage in interactions within social media (Gay et al, 2006). Millions of users are registered in these sites and this makes them potential customers for different companies in relation to the products offered. One way by which M-GlobalX Company can ensure that it becomes a dominant player on the internet marketing platform would be by registering and developing pages in social networking sites that can be a potential market for the company (Gay et al, 2006). In addition, through these sites it will be easier for the company to link these potential customers to its website as way of increasing traffic and creating an environment that ensures the possibility of increasing on its market share. For social media to be considered effective as an online marketing platform it would be important for the company to register on numerous social media accounts. This is based on the understanding that there is no single social networking platform that can be all inclusive (Miletsky, 2009).
Facebook for instance is a social networking platform that has the highest number of registered users. The higher the number of online users on a social networking platform, the higher the company will gain from the potential customers. For a company to be effective on a platform such as Facebook, it would be important to ensure that its services are tailor made to meet the interest of the target customers (Roberts & Zahay, 2012). It is obvious that every user on Facebook cannot be a target customer. This realization makes it important for the company to ensure that its page provides information that is unique and targeted to specific individuals. Facebook interface allows the company to upload pictures and videos that can be used as instruments of communication for the company. These help in providing relevant and additional information to the targeted customers (Miletsky, 2009).
Social networking platforms such as LinkedIn can be important as a marketing platform for the company. This is because it serves as the world’s greets online business center. Through this platform it will be easier for employees, the customers and the management to interact at different levels (Miletsky, 2009). The essence of this site is that by creating a platform of interaction, it is possible would be possible for the business to interact with other marketers and businesses on the best way to establish itself as an effective networking player in the industry. In addition, it will also be possible for the business to acquire expert advice on the best ways to improve on its ability to provide the most effective services and products to its customers (Roberts & Zahay, 2012). The use of this networking platform can help in boosting the position of the company on the internet platform since there are organizations whose leaders are part of LinkedIn. Their desire to acquire expertise advice on banking, real estate and financial matter may help in the generation of additional traffic to the company’s website hence the possibility of an increase in terms of its market share, sales and profit margins (Roberts & Zahay, 2012).
Social media marketing is inclusive of video marketing. Other than the need to ensure that the company creates simple but relevant videos that can be posted on the leading online video platform, You Tube, it would be important for the company to improve on its visibility on the online platform by organizing video contests (Miletsky, 2009). The organization of these contests will be organized as a way of improving on the type of association between the company and the customers. Furthermore, the creation and the constant use of You Tube will allow the business to maintain its relevance in the highly competitive market. Videos more than pictures and words are better marketing techniques due to their ability to combine motion pictures with statements. According to existing studies there is a high likelihood that a customer will spend more time on an advertisement with videos rather than that which is only characterized by words and still photos (Roberts & Zahay, 2012).
For a company such as M-GlobalX to ensure that it is highly competitive on the social networking platform would be through consistency in terms of the number of times and the type of information communicated through these sites. In addition, a competitive advantage would also be realized through the provision of relevant information about products and services to the target customers (Miletsky, 2009). It would also be important for the company to provide a platform that involves the customers. The company must address concerns raised by the customers by commenting on their posts. This includes both the negative and the negative posting (Roberts & Zahay, 2012). Through this approach to the use of online marketing, it will be easier for the company to change the perception about the company. It will also be a way through the customer will embrace the open and transparent nature of the company in terms of its ability to accept criticisms and acknowledgments in equal measure (Roberts & Zahay, 2012).
The level of awareness of a company, its products or services in the public domain can also be used as an essential determinant of the amount of traffic that accompany attracts. It would therefore be important for the company to improve on its innovations and its corporate social responsibilities (Gay et al, 2006). Innovations aim at improving the ways by which different companies conduct their activities. This not only ensures relevance but also ensure popularity of the business especially when the information is shared across different internet marketing platforms. Corporate social responsibility is essential in improving the company’s level of commitment to giving back to the society (Roberts & Zahay, 2012). Using social media as a platform for advocating for non-business related functions such as community service and the provision of other services that address different needs of the community such as environmental conservation, the promotion of health and interpersonal relationships may be used as platforms the boost the image of the company within the target market (Roberts & Zahay, 2012). Other than the popularity of the company on different platforms, it will be easier for the management to be interviewed on business and corporate social responsibility related functions in the community. Such interviews help in shining some lights on the website since the information shared from the interviews will necessitate the urge to acquire more (Miletsky, 2009). The interviews will provide the management with the ability to represent the organization through the speeches they provide, the questions they answer and the information they provide as ways of promoting the image of the company (Roberts & Zahay, 2012).
Other than the involvement of the management, the success of any internet marketing initiative must also involve a willing group of employees. Employees form an essential part of a business because they are often able to interact with the customers at personal and business levels (Miletsky, 2009). It is therefore important for the company to organize training sessions for the employees on different ways that they can use the internet to ensure that they meet the objectives and targets of the organization. For these trainings to be effective it will be important for the company to involve experts drawn from different internet marketing fields to help boost their knowledge and understanding on the operationalization of the internet for the benefits of the company (Roberts & Zahay, 2012).
One of the areas that are vital in improving on a company’s footprint on the internet is training on customer service relations on the virtual platform. Instant chats between the customers and the employees on social networking sites such as Facebook and Twitter always require the employees to maintain high moral standards in terms of the language an the type of information that they provide to the client (Miletsky, 2009). This is because the internet acts as a platform were news travels at a relatively faster rate. Any form of miscommunication may be disadvantageous to the company especially when it is shared among internet users that are considered influential. Conversely rightly communicated information can also be beneficial to the company if it is shared among individuals who are considered as highly influential on any social networking site (Roberts & Zahay, 2012).
Other than training on the best practices that employees should exercise as representatives of the company on the internet, it would also be important for the company to introduce a reward and motivations system. This is will be one way by which M-GlobalX will provide the employees with a platform of competition on the best techniques that can be employed to ensure that the company remains relevant on the internet (Gay et al, 2006). Reward systems motivate employees to work in ways that improve traffic to the company’s website. For example rewarding employees who are innovative on how to use the internet for marketing purposes will motivate other employees within the company to device the best internet marketing methodologies (Miletsky, 2009).
Job specialization and differentiation can also be a way by which the company can ensure that it minimizes duplication of roles. This is only possible in situations where the employees understand their roles and the expectations of the company in using the internet as an online marketing platform. Specialization and differentiation will provide information on the person responsible for the development of webpages, the individual responsible for the development and editing of marketing information before it is published on the internet (Roberts & Zahay, 2012). In addition, the company also has the responsibility of defining the team in charge of reviewing comments from the users and providing feedback. Through such a systematized way of conducting activities, it will be possible for the organization to develop the best strategies that can be used in the provision of the most relevant information. In addition, allocation of responsibilities in accordance with the skills and capabilities of different individuals will also provide the company with an easy way of solving any matters arising from the use of the internet. This is because of the clear outline on the responsibilities of every employee (Miletsky, 2009).
Internet resources have provided opportunities for businesses to sustain their processes. They have provided opportunities to reach new markets and incorporate creativity and innovativeness in their processes. Web-based marketing enables an organization to reach audiences located in international boundaries. For instance, customers from Europe can use Amazon or E-bay to purchase products from the U.S. In order to successfully use web-based marketing, organizations should provide support and training to their employees. The success of web-based marketing can be evaluated by the level of change in profit margin, customer interaction, and increase in market share in non-traditional markets.
The organization should design and launch a website, which will assist in online marketing. A website will help the firm to communicate and receive orders from customers from different locations. It also provides a platform for targeting a wider audience.
The firm should provide the necessary technical resources, support and training to its employees. This will enable them to use online marketing and update the organization’s online presence. These trainings will provide the employees with a platform understanding their responsibilities towards the realization of organizational goals and objectives.
In addition to using a company website, the organization should incorporate social media marketing. This will help in the establishment of an effective multi-channel online marketing. Some of the social media platforms that can be used include Facebook, Twitter, YouTube, and Instagram.
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