McBride Financial Services provides low cost mortgage solutions for individuals. McBride Financial Services caters to professionals, retirees, and families that are looking to purchase either a primary or secondary residence or recreational properties. McBride Financial Services has decided to redesign it’s current marketing plan so that they are able to reach individuals who are more likely to fit the profile of the type of consumer that their services are created for.
McBride Financial Services must complete marketing research in order to make sure that the marketing campaign designed for them will be effective. Conducting consumer market research will allow McBride Financial Services to study the buying habits of individual people. This will give them the opportunity to market to certain types of individuals that are more likely to purchase their service instead of wasting money advertising in a general region.
Ad Tracking will also be of use to McBride Financial Services because it will monitor the brand’s performance and it will allow this business to see how individual’s feel about their brand. Buyer Decision Processes will be used by McBride Financial Services to determine what motivates individuals to buy and what decision-making process they use. Combining Ad Tracking and the Buyer Decision Process will help McBride Financial Services to target what type of consumer they should market their products more heavily to.
The final type of marketing research that should be used is customer satisfaction research. This type of research gives businesses an understanding of how satisfied a customer is with the overall buying experience they have had. It shows businesses where they can improve and it also shows them where they are strongest.
Choosing the right type of advertising media is very important for any business. McBride Financial Services targets professionals, retirees, and families so it is important that they choose media that these target audiences focus on. Studies show that retirees are less likely to use the Internet and more likely to read and trust newspaper advertisements. Professionals spend a lot of time using the Internet for research and business. The best approach when using media to target families would be television and radio. Other types of media can be used, but the newspaper, television, radio, and Internet will be the most effective for this business.
Newspaper advertisements that focus on individuals that are average retirement age will only be effective in areas that have a high population of individuals that fit this age group. Researching different areas to see what areas have a higher population of individuals in this age group and then advertising in newspapers in these areas will definitely draw interest for this business.
Television and radio advertisements should be designed to specifically cater to families who are looking to purchase a residence or recreational property on relevant television or radio stations. Research must be done in order to determine which television and radio stations have the highest volume of listeners and viewers that fit this genre.
Internet advertisements should be don in the form of niche marketing. Niche marketing is the process of advertising a product or service on certain web sites that potential clients and customers would be viewing. By targeting individuals who could potentially become a client or customer instead of randomly advertising on the Internet has made a huge difference for some businesses. McBride Financial Services should direct their internet marketing at professionals who are looking to purchase a primary or secondary residence. They should consider advertising on forums, article directories, and business sites that cater to professionals.
Making sure that the different types of media used to advertise are targeted towards the audience that McBride Financial Services wants to cater to will ensure an increase in business and enable McBride Financial Services to spend advertising money more effectively.
Internet Marketing is one of the most effective ways for businesses to get the word out. It is also an easy way to blow a lot of money without seeing any results. It is imperative that businesses learn as much as they can about Internet marketing before venturing out into the world of online advertising. Perfect time management and concise ideas are the first things that a business must have before starting an online marketing campaign.
There are many ways for businesses to learn about Internet marketing and the Internet is the premiere source for finding them all. It has a plethora of articles, reviews, tips, and tricks to share about launching an effective online marketing campaign. In order to be successful at Internet marketing one must do a lot of research. Then they must do a lot more.
For businesses that do not have the patience or the funds to train someone in Internet marketing there are plenty of marketing experts or “gurus” that are more than willing to hire out their expertise. There sole job is to keep up-to-date with the changing trends of online marketing and act as a consultant for those businesses that are willing to dish out enough money.
McBride Financial Services would benefit by starting off small when it comes to Internet marketing. Niche marketing their product only to professionals in websites that are specifically designed for these individuals would be the smartest move for this business in the beginning. Once McBride Financial Services has enough data that can be analyzed in order to determine how well their online marketing is working they can begin designing online marketing campaigns for the other target audiences they cater to.
By taking baby steps in their online marketing affairs, they will save themselves time and money. They will also be able to see which type of advertising media is most effective and be able to shift their budget accordingly.
McBride Financial Services provides a service that is needed by many and seen by few. Changing their marketing plan so that it is directed more towards their target audiences and less to the public in general should show a huge difference in their advertising campaigns effectiveness.
Television and radio advertisements should be designed so that they are more likely to reach families while newspaper ads are directed more towards retirees. Professionals can be targeted on the Internet and also fit into either the families group or the retirees group which gives McBride a sort of double whammy in advertising. If they cannot get the attention of individuals with one type of media, there is a good chance that they those same individuals will hear about McBride through another.