The Power of PARM


The many marketing tools and tactics available might seem confusing at first, but if you stack each of them up under the elements of PARM, you can create a well-planned and effective marketing plan for your Yahoo! store.

PARM is a marketing strategy: positioning, acquiring, retaining, and monetizing. Positioning sits atop acquiring, which rests upon retaining; all three sit atop monetizing.

By positioning, we mean how your Yahoo! store positions itself in the digital marketplace. After you've positioned your business and when you know who your target audience is, it's time to acquire customers. You then need to retain those customers. It's well known that it costs 10 times more to acquire a new customer than to retain the ones you have, so retention becomes an important objective of your marketing program. Finally, all this positioning, acquiring, and retaining is for naught if you can't make a buck from customers. So, monetizing all this traffic to your digital presence is obviously your ultimate goal.

Any one of the marketing tools in itself will not make your company's Internet marketing plan a success. The slow and steady, consistent combination of them all wins the e-commerce race. Keep in mind that the tools we offer in this chapter and the ones that follow are only a start. By thinking long and hard about your digital business strategy, you can come up with even more marketing tools and tactics to apply to your particular Yahoo! store.

We take a closer look at each one and see which marketing tools and tactics you can use when creating a marketing strategy for your business. The details of each marketing tool are covered later in this chapter and in the ones that follow.




Succeeding At Your Yahoo! Business
Succeeding At Your Yahoo! Business
ISBN: 0789735342
EAN: 2147483647
Year: N/A
Pages: 208

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