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High customer satisfaction is one of the signs of a successful business and loyal consumers to a brand or product.

To know how to increase customer satisfaction, you must first understand the definition, various determining factors, to the benefits and impacts on the business.

Read more in the following article.

Definition of Customer Satisfaction

Customer satisfaction is a measure or benchmark of how satisfying your business's products, services, and product services are in the eyes of consumers. According to Zendesk, customer satisfaction is also a benchmark for the condition of the company and whether they can produce products according to consumer needs.

Consumer service is one of the important indicators in maintaining satisfaction and relationships with consumers. Customer satisfaction is often considered difficult to assess, but there are several factors that can affect your customer satisfaction.

Factors That Affect Customer Satisfaction

Reporting from HubSpot, here are 10 factors that affect customer satisfaction in your business:

Product and customer service accessibility

Accessibility means how easy it is for consumers to find and receive your product. The question that often arises is, is your product sold around where the consumer lives? Another thing that is expected is easy-to-reach and solution-oriented customer service.

Empathy shown

Consumers expect businesses to show empathy when there are complaints and input. Businesses must be able to make consumers feel heard and cared for. In this case, customer service plays an important role in building this feeling.

Language used

The language used by the business's customer service team is also often a factor in customer satisfaction. Polite and non-provocative language is the best way to communicate with consumers.

Duration of responding to complaints

Still related to customer service, businesses are expected to respond to consumer complaints in a short time. You must reply to consumers within a maximum of 1x24 hours. However, the faster the response given, the more satisfied your consumers will be. Don't forget to offer the best solution.

Ease of using the product

The products and services purchased by consumers must be easy to use. Don't let your product be too complicated until consumers stop using it. You must also ensure that it is easy to replace problematic parts of the product. This aims to facilitate the product repair process.

Product choices

A diverse selection of products will help your business reach a wider and more diverse range of consumers. Consumers will also not get bored easily if your product has a variety of choices to use.

Product quality

Of course, the main thing that consumers expect is the quality of your product. Maintain and improve product quality to ensure that consumers continue to use your product. Product quality includes size, benefits, functions, and taste of the product.

Product price

For loyal consumers, high prices will not be a problem if the product quality is maintained or also increases. However, if you are just starting a business, affordable prices can also attract consumers to use your product.

Appreciation for consumers

The appreciation in question includes messages to consumers via social media, bonuses or discounts when consumers buy products in large quantities, to thank you cards when products are purchased.

Special programs for loyal consumers

The special programs in question are discounts, bundle promos, to groups or communities for loyal consumers.

How to Increase Customer Satisfaction

Here are 10 ways to increase customer satisfaction, summarizing the Harvard Business Review:

Recognize consumer expectations

You must understand what consumers expect from the business, from product quality, price, to the services provided.

Improving the quality of products and services

Of course, improving the quality of products and services will increase the satisfaction of consumers who use or consume them. With high quality, price is often not a problem for loyal consumers.

Receive consumer complaints and input

You must always be ready to receive complaints and input. The customer service team must be able to show empathy and offer the best solutions for consumers.

Make system and product improvements based on complaints

In addition to offering solutions, businesses must improve the systems and products sold to consumers. Of course, all improvements must be based on complaints received.

Overcome problems faced by consumers

Problems faced by consumers must be resolved in less than 1x24 hours. To maintain loyalty, businesses can also provide compensation to consumers in the form of refunds to discount coupons.

Build interactive communication with consumers

Interactive communication can be done via email, social media, to short message platforms. Customer service must use the right language so that consumers feel appreciated and understood.

Maintain relationships with loyal consumers

Loyal consumers are the main profit generators that must always be considered. You can continue to provide promotions or special offers for loyal consumers.

Maximize business resources for customer satisfaction

You must provide training to the customer service team to sales to ensure the best service standards for consumers.

Create personal customer service

When you communicate with consumers, don't forget to make the message more personal. Call them by name and don't forget to validate their complaints.

Build a community for consumers

Communities for consumers can be groups on short message applications, social media, to special newsletters.

Benefits of Customer Satisfaction in Business

1. Consumers will continue to buy and use products.
2. Increase business revenue and profits.
3. Build positive relationships with consumers.
4. Increase the number of loyal customers.
5. Consumers will promote and recommend products to people close to them.
6. Become an assessment of employee performance and performance.
7. Become an assessment of product and service quality.

It can be concluded that customer satisfaction is an important factor in business sustainability. This factor also determines how much income or profit a business makes.

You can master how to increase customer satisfaction by following a short program from Prasmul-Eli entitled Customer Satisfaction & Relationship Program.

In this training course, you will learn how to maintain customer satisfaction and loyalty directly from professionals and industry experts.
Interested? Visit this page for a list of programs!

Lead generation is one of the important processes in marketing that aims to attract the attention of potential customers.

If you are curious about how large companies continue to get new customers and increase sales consistently, apparently the answer is lead generation.

This article will discuss in depth what lead generation is, its benefits for business, the processes involved, and some examples of its application.

Definition of Lead Generation

Lead generation is a marketing process that aims to attract the attention of potential customers and collect their contact information for sales purposes.

This process begins by identifying individuals who are potentially interested in the products or services offered.

Then collect data such as names, email addresses, and telephone numbers through various marketing strategies.

In the context of digital marketing, lead generation often involves creating interesting content.

For example, through articles, e-books, or videos, as well as the use of online forms and call-to-action (CTAs) to request contact information from website or social media visitors.

Once contact information is obtained, the sales team will follow up to build further relationships and convert potential customers into buyers.

The ultimate goal of lead generation is to convert leads into prospects who are ready to make a purchase, thereby increasing sales opportunities and business growth.

Benefits of Lead Generation

Lead generation is a marketing strategy that has many important benefits for businesses. Here are some of the benefits:

1. Increase Sales

Lead generation helps increase sales in a more efficient way.

If you already know who is most likely to be interested in your product or service, of course you can immediately focus more on them.

By focusing on potential customers who have shown interest, you have a greater chance of increasing sales.

2. Marketing Efficiency

Lead generation allows you to identify and focus on potential customers who are most likely to buy.

Thus, you do not waste time or resources on people who are not interested, so marketing becomes more efficient.

3. Building Brand Awareness

Lead generation also helps build brand awareness. Because when potential customers interact with the content you create, of course they become more familiar with the brand.

Even if they haven't bought, they will be more familiar with your brand. This can also make them more likely to buy in the future.

4. Collecting Customer Data

With lead generation, you can collect important data about potential customers, such as what they need, what they like, and how they behave.

This data is very useful for creating a more appropriate marketing strategy. In addition, this data can also help you develop products that are more in line with customer needs.

5. Better ROI

Return on Investment (ROI) is a measure of how much profit you will get from your investment.

Lead generation can provide a better ROI than traditional marketing methods because you can measure and improve each stage of the process.

The process in question is the stage from collecting leads to converting them into customers.

Lead Generation Process

The lead generation process is a series of strategic steps that aim to identify, attract, and convert people who have the potential to become customers.

Here are the steps:

1. Attracting Audience Attention

The first step in the lead generation process is to attract the attention of potential customers.

Some methods you can use include:

• Content Marketing: creating and distributing relevant content through blog posts, videos, or infographics.
• SEO (Search Engine Optimization): optimizing your content to be easily found on search engines.
• Online Advertising: using platforms like Google Ads or social media to reach your target audience.
• Social Media Marketing: being active on social media platforms that are relevant to your audience.

2. Collecting Information

Once you have successfully captured attention, the next step is to collect information from potential customers. For example:

• Landing Pages: special pages designed to convert visitors into leads.
• Online Forms: asking visitors to fill in information such as name, email, and phone number.
• Lead Magnets: offering something of value (such as an ebook or webinar) in exchange for contact information.

3. Lead Qualification

Not all leads are created equal. In this stage, you will screen and evaluate leads to determine which ones have the most potential to convert into customers.

Commonly used methods include:

• Lead Scoring: assigning a numerical value to leads based on their characteristics and behaviors.
• Lead Grading: evaluating how well a lead fits and becomes an ideal customer.
• BANT Framework: assessing leads based on budget, authority, need, and timeline.

4. Nurturing Leads

Qualified leads then enter the nurturing stage. This is the process of building a relationship with the lead through consistent, relevant communication.

Some nurturing strategies include:

• Email Marketing: sending a series of emails tailored to the lead’s interests and buying stage.
• Retargeting: showing targeted ads to leads who have interacted with your website.
• Content Personalization: presenting relevant content based on the lead’s preferences and behaviors.

5. Converting Leads

The final stage is converting leads into customers. You can do this in several ways, such as:

• Special Offers: providing incentives to encourage purchases.
• Product Demos: demonstrating the value of your product or service in person.
• Personal Consultations: offering one-on-one consultation sessions to discuss the lead’s specific needs.
• Timely Follow-up: contacting leads at the right time when they are most ready to make a decision.

Lead Generation Examples

Lead generation is a creative process that involves creating engaging content to build an initial relationship with potential customers.

Here are some examples of lead generation strategies:

1. Premium Content: offering a free ebook, whitepaper, or webinar in exchange for a website visitor’s contact information.
2. Free Trial: providing free trial access to your product or service. For example, Netflix uses this strategy by offering a free month-long trial period.
3. Online Quiz or Assessment: creating an interactive quiz that provides useful results to visitors after they enter their contact information.
4. Webinar or Virtual Event: hosting an educational webinar or online event that requires registration.
5. Referral Program: encouraging existing customers to refer your product or service to others.

Lead generation is an essential process in modern marketing strategy.

By understanding the definition, benefits, process, and examples of lead generation, you can develop an effective strategy for your business.

Interested in learning more and mastering digital marketing techniques that can transform your business?

Enroll now in the Digital Marketing Fundamental class from prasmul-eli.

In this class you will learn digital marketing by understanding the concept and its implementation, reaching and understanding customers, and designing the right online marketing strategy.

Procurement is an important process in business that involves purchasing goods and services. It is not just about buying, but also managing how the goods or services are obtained and used.

In this article, we will discuss procurement, the basic principles to follow, the steps in the process, and the important components involved.

The goal is to help you understand how procurement plays a role in supporting the success and efficiency of a company.

What is Procurement?

According to Investopedia, procurement is the process of obtaining or purchasing goods or services, usually for business purposes.

This process includes steps such as determining needs, planning purchases, finding and selecting suppliers, and negotiating prices and terms of purchase.

In addition, procurement also involves inventory control to ensure that the goods obtained are used efficiently.

In short, procurement is not just about buying goods or services, but to ensure that the organization gets what it needs in the most efficient and effective way.

Procurement Principles

To ensure that the procurement process runs smoothly, there are several principles that need to be considered.

Here are the main principles of procurement:

Accountability

This principle means that everyone involved in the procurement process must be held accountable for their actions. This includes:

• Establishing clear rules and procedures for how procurement should be carried out.
• Providing consequences if these rules are broken.

For example, if an employee makes a mistake in selecting a supplier, they must explain the reasons and resolve the issue in accordance with applicable regulations.

Consistency

Consistency means that the procurement process must be carried out in the same way every time. This includes:

• Following established rules and procedures.
• Ensuring that the quality of the goods or services obtained remains the same.

For example, if a company buys computers from the same supplier. Then, they must ensure that the specifications and quality of the computers received are in accordance with what was previously promised.

Value for money

This principle requires that every expenditure must provide maximum benefits. This means:

• Choosing goods or services that offer the best combination of price, quality, and long-term benefits.
• Not only choosing the cheapest, but also considering the quality and effectiveness of the product.

For example, if buying a machine, it is better to choose a machine that may be more expensive but has a longer life and lower maintenance costs.

Fair dealing

Fair dealing means that all suppliers must be treated equally, without discrimination or favoritism. This includes:

• Giving all suppliers an equal opportunity to participate in tenders or offers.
• Maintaining confidentiality of information when necessary.

For example, if there are several suppliers offering prices for a contract, all must be considered fairly and none are given privileges without clear reasons.

Informed decision making

Decisions in procurement must be based on accurate and up-to-date information. This includes:

• Collecting and analyzing all relevant information before making a decision.
• Monitoring and ensuring that all obligations in the contract are met.

For example, before purchasing new equipment, an organization must assess various options, compare prices, and review product reviews to make the right decision.

Procurement Process

Procurement is a process that consists of several stages. The following are the stages in the procurement process:

1. Identification of company needs
2. Purchase authorization
3. Purchase approval
4. Opening tenders to suppliers
5. Identification and analysis of suppliers
6. Offering of goods and services
7. Negotiation process
8. Determination of suppliers
9. Purchase order
10. Quality inspection of goods and services

Each stage in this process plays an important role in ensuring that the company gets the goods or services it needs.

Of course, at the best price and from the right supplier.

Procurement Components

Procurement is a complex process that consists of several important components. There are three main components in procurement:

People

This component refers to the number of people involved in the company's procurement process. The number can vary depending on the scale of manufacturing and ordering.

Process

The process is a key component in procurement. Without a well-planned process from start to finish, procurement cannot be carried out efficiently.

Paperwork/records

This component includes all the records and documentation required in the procurement process.

The Importance of Procurement in Business

Procurement is a very important part of business. Here are some reasons why procurement plays a very important role:

1. Cost Savings

Procurement helps businesses reduce costs.

By choosing the right suppliers and negotiating good prices, companies can save money and keep cash flow stable.

2. Product Quality

To produce high-quality products, companies need to ensure that the raw materials used are the best and available on time.

Procurement plays a role in selecting and managing the procurement of these raw materials so that the production process runs smoothly and the results are satisfactory.

3. Alignment of Goals

A good procurement process ensures that the purchase of goods and services is in accordance with the company's goals and strategies.

4. Risk Mitigation

Procurement also helps companies identify and mitigate risks that may arise in the supply chain.

Including risks from suppliers, material quality, or disruptions in delivery.

By managing these risks, companies can avoid problems that could disrupt their operations.

5. Sustainability and Ethics

The procurement team must ensure that the purchase of goods and services is carried out with environmental and ethical impacts in mind.

This includes selecting suppliers who follow environmentally friendly and ethical practices, and support the company's commitment to social responsibility and governance.

Procurement is a complex and critical process in business operations.

By understanding the basic principles of procurement, you can better appreciate how strategic this process is in achieving business success.

In addition, improving procurement practices can provide long-term benefits for your company.

To deepen your knowledge and hone your skills in supply chain management, enroll in the Supply Chain Management class from prasmul-eli.

In two days of intensive learning, you will learn the latest concepts and practical strategies that can be applied directly to your business!

Creative thinking is the ability to consider something in a new or unique way. Creative thinking can be used in discussions, when making decisions, and giving opinions.

Creative thinking also means bringing a new, fresh, and unique perspective to a business. In running a business or team, you must ensure that each individual can bring a new and unique perspective. The goal is of course to run a business effectively.

Learn more about creative thinking starting from the benefits, examples of applications, and how to improve it below.

Definition of Creative Thinking

Creative thinking is the ability to pay attention to various patterns and facts, then use them to find new and unique solutions and perspectives. Someone who thinks creatively can turn complex conditions into new solutions and make situations effective.

Creative thinking includes:

• Using a new approach to problem solving.
• Solving problems between individuals.
• Creating new results in data sets.
• Using methods and approaches that have never been tried before.
• Producing new products or product features.

Quoting The Balance, it should be remembered that creative thinking is not only related to artistic things. Creative thinking is an ability that can be formed and developed by everyone. Because, creative thinking can be honed through the following skills:

• analytical skills
• open minded (open to accept everything)
• solve problems
• organizational
• communicate well

Benefits of Creative Thinking

Here are some of the benefits of creative thinking for business and personal impact.

• Companies that encourage creative thinking to find ways to increase revenue.
• Placing yourself as a creative thinker can increase your value as a superior candidate.
• Improve a person's ability to make unique, fair, and effective decisions.
• Improve collaboration and internal communication between teams to create effective ways of working in achieving business goals.
• Increase the ability to adapt to new environments.
• Encourage an innovative and solution-oriented business environment.
• Prevent conflict and solve problems effectively.
• Encourage a business environment that prioritizes development and learning.
• Improve leadership skills in each individual.

Examples of Applying Creative Thinking

Highlighting creative thinking in a CV

According to Indeed, as a candidate or job seeker, creative thinking can be your added value in the eyes of recruiters. Here are some ways to highlight creative thinking in your CV:

• Use words related to creative thinking such as; problem solving and analytical skills.
• Add case examples, such as; "Creating a new marketing team workflow that increases collaboration effectiveness".

Using active listening in discussions

Active listening means that you listen while giving full attention to the person you are talking to, understanding their intentions, their conditions, and creating a safe and positive environment for discussion. With a good discussion environment, both parties will have a creative and dynamic discussion. Active listening helps you to understand the topic in depth and be able to think of creative solutions.

Solving client problems

The brainstorming process can help you solve client problems creatively. For example, when a client asks for revisions and changes to the theme close to the deadline, you and your team can brainstorm to find an effective way to change the theme in a short time. Furthermore, you and your team can offer solutions to clients in the form of adjusting the theme, a new timeline, and how many people will work on the project.

How to Improve Creative Thinking

Here are seven ways to improve your creative thinking skills, according to Thinglink:

Brainstorming

As explained, brainstorming can be a way of creative thinking because you and your team have to gather various perspectives and ways of finding various solutions. Various perspectives and new solutions that are collected can be discussed again in depth until the best answer or decision is found.

Changing perspective

Some people often find it difficult to accept other people's perspectives, which makes it difficult for them to accept other people's opinions. If this happens, then the person has difficulty developing their creative thinking skills.

By being able to accept other people's opinions and perspectives, you will be able to find new and unique thought patterns, views, and solutions. This certainly makes it easier for you to make decisions.

Doing creative activities

The creative activities in question include drawing, coloring, writing, playing music, photography, knitting, and gardening. These various activities encourage your brain to think creatively to ensure that the results are good or according to expectations.

Hearing other people's views

Related to the second point, you must be able to hear and accept other people's views. Especially when conducting discussions or brainstorming, the people involved must get an equal portion to express their opinions.

Read more

Reading news, books, or listening to podcasts, and watching creative videos can help you develop creative thinking. The key is not to limit yourself to just your personal or own views.

Take a break from the problem

If the problem you are facing does not have to be solved right away, then you can take a break or leave the problem for a while. Try walking around the office or house to refresh your mind.

Flexible

The last is to be flexible, because you have to use and consider many aspects when carrying out the creative thinking process. It could be that your first thought is not quite right, so you have to change your perspective.

It can be concluded that creative thinking is a skill needed by professionals and business owners to be able to solve problems creatively. This ability is also useful for businesses to be more creative in creating strategies that increase revenue.

If you want to develop creative thinking, take the Prasmul-Eli Problem Solving & Decision Making short program.
Professionals and industry experts will train you to hone your creative thinking skills. Interested? Click here to register for the program!

Customer satisfaction indicators describe how satisfied consumers are during the process of interacting, purchasing, and using a business product. These indicators reflect consumer expectations that are met after using a product or service.

To increase consumer retention and increase loyalty, businesses must pay attention to and prioritize customer satisfaction indicators.

Then, how do you measure customer satisfaction levels? Understand more about why customer satisfaction indicators are important to help businesses grow through the following article.

The Importance of Customer Satisfaction Indicators

The fundamental goal of a business is to provide convenience, solutions, and answers to all consumer requests. Therefore, CMLabs calls customer satisfaction an achievement and brings significant benefits to the business.

Here are some reasons why businesses should pay attention to customer satisfaction indicators:

• Increase consumer loyalty: when consumers are satisfied with your business's products or services, they will make repeat purchases and continue to do so.
• Increase brand awareness: in addition to making repeat purchases, loyal consumers will recommend products or services to people around them, this helps your business reach a wider consumer base.
• Building brand reputation and authority: customer satisfaction can build a positive reputation that attracts new customers and retains existing customers.
• Building a competitive business: by maintaining and prioritizing customer satisfaction indicators, businesses can remain competitive with competitors in the market or industry, while ensuring consumers feel valued and satisfied with their choices.

10 Indicators of Customer Satisfaction

Here are 10 indicators of customer satisfaction according to Ombea:

Speed

The speed in question is how quickly a business sends products to consumers. For physical stores, this indicator is assessed by how quickly consumers can find your products and get paid. Meanwhile, for online stores, the speed indicator means how quickly consumers make a decision between buying products from your business and those of competitors.

Quality

Quality means which products or services match the needs and money spent by consumers. This indicator includes the price of the product and the value that consumers get after using the product or service. Assessing product quality is a way to assess a business's ability to meet consumer expectations.

Price

It may sound strange when you ask consumers about the price of a product or service. However, knowing their perception of the price of the product will help your business. If consumers feel that the price of your product is too expensive, it could mean that the quality has not met their expectations. If the price is considered cheap, it means that the business has used the right strategy and you can increase the price of the product.

Complaints and feedback

Complaints and feedback can be key to the development of your product or service. By accepting and filtering constructive complaints, businesses can measure sales success. Complaints can have a better impact than praise. Use complaints and feedback on online platforms to assess what businesses should do to improve the quality of their products or prevent further complaints. That way, consumers will feel appreciated and heard.

Consumer loyalty

A form of loyalty or loyalty to a brand is when consumers easily choose your product over those of competitors. This indicator also assesses how often consumers recommend your product to people around them. Consumer loyalty ensures that sales will increase because consumers make repeat purchases and the opportunity to reach new consumers through word of mouth.

Repurchase percentage

With the increasing difficulty of adding new consumers, businesses must be able to ensure that consumers have the desire to buy again and are loyal to the brand. Therefore, the percentage of consumers who repurchase is very important to measure. This indicator can also show businesses how to ensure consumers return to buy your products.

Interaction with employees

In a physical store, consumers will interact with employees to get products or services. These interactions can have a positive or negative impact on the business. If consumers are not satisfied with the service of employees, they can leave bad reviews or comments. This also assesses whether your employees reflect the values ​​or SOPs of the business when interacting with consumers.

Reviews and ratings

With the development of technology today, many platforms provide rating and review systems for consumers to assess a business. Every business, regardless of its business model, must pay attention to reviews and ratings given by consumers online. By knowing what consumers think about the products or services purchased, businesses can find out what types of changes or developments can be made.

Problem solving process

This indicator assesses whether your product solves a problem or achieves their goals. Your consumers buy or use products with the aim of solving problems and meeting their needs. This also relates to complaints, whether your business can solve or provide the right solution.

Product difficulty level

Related to the previous point, consumers want to solve their problems and feel satisfied after using your product. Therefore, the level of difficulty in using the product must be considered. If the product is too complicated, they may not make repeat purchases.

It can be concluded that customer satisfaction indicators are important values ​​that businesses must pay attention to. These indicators can increase consumer loyalty, increase brand awareness, build a positive reputation, and create a competitive business. These things will certainly increase sales and business profits.

You can master more about the various important indicators in measuring customer satisfaction by following Prasmul-Eli's short program entitled Customer Satisfaction & Relationship Program.

In the program, learn various ways to maintain customer satisfaction and loyalty directly from professionals and business experts.

Interested? Visit this page to learn and register for the program!

Co branding is one strategy to reach new consumers and expand the sales market. Businesses can collaborate with other brands, whether related or not, to form new products.

The goal is to attract attention from each brand's consumer group and introduce products that are sold in limited quantities. However, in some cases, famous co branding products will be maintained by the brand.

Want to start co branding for your business? Find out the various considerations, advantages, disadvantages, success metrics, and examples of co branding below.

What is Co Branding?

Co branding is a sales strategy carried out by two or more brands to produce new products, quoted from Sprout Social. These new products are usually sold in limited quantities or within a certain time frame only.

The products issued still have the characteristics of each brand, from shape, taste, packaging, to slogans. This collaboration can be done between brands with similar or very different products.

However, to increase the uniqueness of the new product, the collaborating brands have very different business units or products. For example, cosmetic and food brands or shoe and food brands.

Things to Consider before doing co-branding

If you are interested in co-branding, consider the following important things:

• The goals of each brand: of course, before starting a collaboration, you must align your vision and mission. Is the goal of co-branding only limited to awareness, trying new products or increasing sales?
• The prominent values ​​of the brand: find out the prominent values ​​that consumers like from your brand, also find out similar things from other brands. Can these values ​​be combined in a product?
• Brand profile and image in the market: don't just choose a brand to collaborate with, make sure their image is good in the market or public. This is also to maintain the good image that has been formed from your brand. Don't let your brand change its goals or image because of co-branding.
• Form of cooperation between brands: this includes the metrics used to assess success, profit sharing, duration of collaboration, and targets or expectations from the results of co-branding.

Advantages and Disadvantages of Co-Branding

Advantages of co-branding

• Make the brand known to more people.
• Reach new markets and consumers.
• Provide awareness through viral products.
• Increase brand credibility and reputation.
• Increase sales.
• Promotion budget is borne by both brands (depending on agreement).

Disadvantages and risks of co-branding

• Agreement can be violated by one party because they feel disadvantaged.
• Only one brand's product is used.
• One brand only "piggybacks" on the name in the product.
• If one brand has a problem, the other brand can suffer the consequences.
• Not going viral can mean low sales.

How to Assess the Success of Co-Branding

According to HubSpot, here are some ways to assess the success of a collaboration or co-branding.

Determine the right metrics

Some metrics that can be used are:

• ROI (return on investment)
• revenue growth and sales
• consumer retention
• website traffic
• social media engagement

Limit KPIs

Two brands can determine their respective KPIs first, then later they can discuss which is the best.

Monitor together

Use one metric measurement tool so that each brand knows the performance of the product and the results of the collaboration.

Have the same goal

As mentioned above, the goal of the collaboration should be the initial discussion between both brands. Is it to increase awareness? Increase sales? Or do you want to go viral?

Co Branding Example

Chitato and Indomie

In 2016, Chitato introduced the Indomie Goreng flavor variant. The product went viral and was sought after by consumers. It was discontinued after the co branding ended, but finally in 2022 the product was remade and became Chitato's permanent product. At the end of 2023, they released a new flavor variant, namely Chitato Lite Indomie Ayam Bawang flavor.

Aerostreet and Khong Guan

Aerostreet is one of the local shoe brands that often does co branding. One of the most sought-after co branding is the collaboration with the Khong Guan biscuit brand. The product is Aerostreet shoes with a Khong Guan jar design which was sold in a limited edition in 2023.

Tolak Angin and Upmost

In 2019, Upmost collaborated with Tolak Angin to create an eyeshadow palette. There are eight variants of Upmost eyeshadow with the signature Tolak Angin scent.

Etude House and KitKat

Etude House also released a co-branding eyeshadow palette in 2019. Collaborating with the KitKat brand, they released two variants with six different colors each. The shape is similar to a KitKat bar.

Oreo and Supreme

In 2020, the Oreo brand co-branded with the high-end fashion brand, Supreme. The product released was a red Oreo with a red velvet flavor.

Indomie and Swallow

Indomie also collaborated with the Swallow flip-flop brand. The product released in 2022 was the Swallow sandal with three Indomie designs. This co-branding was a celebration of Indomie's 50th anniversary.

Taco Bell and Doritos

Taco Bell is a fast food restaurant with Mexican specialties. They sell tacos with skins from the Doritos brand of chips. This collaboration became a favorite of their consumers, as a result the product has survived until now.

Are you interested in co-branding? Don't forget to make sure the considerations above and what form of cooperation and agreement are expected. Take the successful examples above and create other viral co-branding!

You can also learn about how to develop a brand through a short program from Prasmul-Eli entitled Strategic Brand Management.

Branding experts and specialists are ready to share their knowledge and experience with you. Visit this page to learn more and register for the program!

Cash flow is a term often used in the world of finance and business. This term refers to the flow of money in and out of a company

Behind the financial success of a company, there is a continuous flow of money coming in from sales, and going out to finance operations. However, not all business owners realize how important it is to manage cash flow properly.

Without proper supervision, a seemingly stable cash flow can turn into a financial disaster in a short time. This article is designed to provide an in-depth understanding of cash flow, from basic definitions to practical steps to create its reports.

Cash Flow Definition

Cash flow is the movement of cash in and out of a company.

In a business context, cash flow does not only refer to physical cash. Because it also includes funds that can be converted into cash, such as uncashed checks or funds in accounts.

Positive cash flow means that the company has more money coming in than going out, while negative cash flow is the opposite. Positive cash flow conditions are important to support daily operations, pay debts, and further business investments.

Types of Cash Flow

Managing cash flow well is the key to the success of every business. The reason is because it does not only reflect how much money is owned, but also how the money is used for various purposes.

Therefore, it is important to recognize the different types of cash flow in order to make better financial decisions. In general, cash flow can be divided into three main types, namely:

Operating Cash Flow

This is the cash flow generated from the main operating activities of the business, such as selling products or services. Operating cash flow includes receipts from customers and expenses for operating costs such as salaries, rent, and raw materials.

Investing Cash Flow

This cash flow is related to the purchase or sale of fixed assets, such as property, factories, and equipment.

Cash flow from investing activities is often negative. This is because the company spends funds to buy assets with the aim of making a profit in the future.

Financing Cash Flow

This cash flow includes activities related to business financing, such as receiving funds from loans, issuing shares, or paying dividends. Cash flow from financing can also be positive or negative, depending on the amount of funds received or spent.

How to Create a Cash Flow Report

Understanding the various types of cash flow is an important first step in managing business finances. However, this knowledge alone is not enough without practical application in the form of a structured cash flow report.

A cash flow report is an important tool that helps management understand the company's cash flow. Here are the steps to create the report:

Collect Financial Data

Start by collecting all relevant financial data, such as income statements, balance sheets, and financial transaction records. This data will be used to calculate cash flow from operating, investing, and financing activities.

Calculate Operational Cash Flow

Use the direct or indirect method to calculate operational cash flow. The direct method involves adding up all cash receipts and disbursements from business operations.

The indirect method starts with net income from the income statement, then adds or subtracts non-cash items. These non-cash items include depreciation and changes in working capital.

Calculate Investing Cash Flow

Investing cash flow is calculated by adding up all cash expenditures and receipts related to the purchase or sale of fixed assets. This includes purchases of equipment, property, and other investments.

Calculate Financing Cash Flow

Financing cash flow is calculated by adding up all activities related to financing the business. This includes receipts of funds from loans, issuing stock, and paying dividends.

Prepare a Cash Flow Statement

Once all cash flows from operations, investing, and financing have been calculated, prepare the statement in a structured format. Start with operating cash flow, followed by investing, and financing.

Analysis and Interpretation

Once the cash flow statement is complete, conduct an analysis to understand the company's financial condition. Note positive or negative cash flow trends and compare them to previous periods to get an idea of ​​the company's financial health.

How to Manage Cash Flow

After understanding how to create a cash flow statement, the next step is how to manage and organize it effectively. Here are some strategies that can be used:

Monitor Cash Flow Regularly

It is important to monitor cash flow regularly, for example every week or month. This helps detect cash flow problems early and take corrective action before they become major problems.

Accelerate Receivables Collection

Try to accelerate the process of collecting receivables from customers. Fast collections will increase cash inflow and reduce the risk of lack of funds for daily operations.

Manage Inventory Efficiently

Excessive inventory can tie up a lot of working capital. By managing inventory efficiently, companies can reduce cash expenditures and improve cash flow.

Control Expenditures

Controlling business expenses, especially non-urgent ones, can help keep cash flow positive. Conduct regular reviews of the budget and ensure all expenses are in line with the business plan.

Consider Short-Term Loans

If necessary, consider taking out a short-term loan to cover temporary cash flow shortfalls. However, be sure to consider the cost of the loan and the company's ability to repay it.

Invest Wisely

Cash flow is one of the most important aspects of business financial management. By understanding the above points, businesses can ensure operational continuity and sustainable growth.

Effective cash flow management allows companies to take advantage of business opportunities, face financial challenges, and achieve long-term goals. Therefore, it is important for every business to have a good understanding of the strategies to manage it.

However, cash flow is just one of the many financial concepts that business owners must have. Learn other aspects through the Financial Analysis program from prasmul-eli.

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Copywriting is one of the most powerful tools that can be used in the competitive world of marketing.

The reason is because copywriting is the art of writing persuasive texts that are used in various media to promote a particular product, service, or idea. In the business world, copywriting plays an important role in attracting the attention of the audience.

The text created by a copywriter has one main goal: to encourage the reader to do something—be it buying, signing up, or clicking on a link. In this article, we will explain in more depth what copywriting is, the types, techniques used, and examples.

Definition of Copywriting

Simply put, copywriting is the process of creating text or "copy" that is designed to promote something and produce a certain action from the reader. This text can be in the form of articles, product descriptions, advertisements, marketing emails, or social media content.

The main goal of copywriting is to influence the audience to be interested in the product or service offered and ultimately make a purchasing decision.

Copywriters are the people responsible for creating persuasive texts. They must also be able to understand the product or service, identify the target audience, and use appropriate language to convince the audience.

Types and Examples of Copywriting

Copywriting has various types, depending on the purpose and media used. Some types of copywriting that are commonly used include:

Direct Response Copywriting

This type of copywriting focuses on getting a direct response from the audience.

Often applied in advertisements, email marketing, and landing pages. The main goal is to encourage the audience to take immediate action, such as buying a product or signing up for a newsletter.

Example: "Get 50% Off All Our Products! Limited Offer, Buy Now Before It Runs Out!"

This example uses urgency and an attractive offer to encourage immediate action from the audience.

SEO Copywriting

SEO (Search Engine Optimization) copywriting aims to increase a website's ranking in search engines. The text created must be relevant to certain keywords and provide added value to the reader. This content is usually used in blogs, articles, and web pages.

Example: "Discover 10 Effective Tips to Improve Your Website's SEO; A Complete Guide to Increasing Traffic and Rankings on Google."

Here, the keywords "SEO", "Increase Traffic", and "Ranking on Google" are used to attract readers who are searching for related solutions.

Brand Copywriting

This copywriting aims to build image or brand awareness.

The language used focuses more on storytelling and communicating brand values. An example is a slogan or tagline from a company.

Example: "Nike: Just Do It."

This slogan is simple but very powerful. It reflects the brand's values ​​and motivates the audience to take action.

Social Media Copywriting

Social media copywriting is a type of copywriting that requires a different approach because it must be short, interesting, and relevant to current trends. This content is designed to increase engagement and interaction on platforms such as Instagram, Twitter, or Facebook.

Example: "Today is the day to try something new! 🌟 Find our latest collection in the bio link. #LatestFashion #OOTD"

This example is short, uses emojis to grab attention, and directs the audience to a specific action.

Technical Copywriting

This type of copywriting is more complex because it requires technical knowledge to explain products or services related to technology, medicine, or other industries. Examples include product documentation, manuals, or white papers.

Example: "The ABC technology in our service supports high-speed data transmission and low latency, making it perfect for the needs of industry 4.0."

In this example, the technical information is conveyed clearly for an audience who may understand the technology.

Effective Copywriting Techniques

Creating effective copywriting requires specific techniques and strategies. Here are some effective copywriting techniques to use:

Know Your Audience

Knowing who your target audience is is a crucial first step in copywriting. Understand their needs, problems, and desires so that the message delivered is relevant and on target.

Focus on Benefits, Not Features

One common mistake in copywriting is focusing too much on product features.

Audiences are more interested in how a product or service can benefit them. Therefore, highlight the main benefits they will get.

Use an Attractive Headline

The headline is the first part that is seen by the audience.

Make sure the headline you create is eye-catching and arouses curiosity. A good headline should be clear, direct, and relevant to the content offered.

Create a Strong Call to Action (CTA)

A CTA is an essential element in copywriting.

A CTA should be bold and encourage the audience to take action as expected. For example, "Buy Now", "Sign Up Free", or "Learn More". Use strong, active words to inspire action.

Use Simple and Persuasive Language

Avoid using jargon or overly technical words.

The language used should be simple, easy to understand, and straight to the point. Also, make sure that the message conveyed is persuasive and arouses the audience's emotions.

Tell an Inspiring Story

Storytelling is an effective technique in copywriting.

Relevant and inspiring stories can help the audience feel connected to the product or service being offered. It also helps build emotion and trust.

Use Social Proof and Testimonials

Testimonials from satisfied customers or the use of statistics can increase credibility and trust in your product or service. This social proof can be in the form of reviews, ratings, or case studies that show the success of the product.

Copywriting is an essential skill in the business world, especially in marketing and advertising. Copywriting can be a very effective tool to influence and direct the audience to the desired action.

However, copywriting is just one of the many efforts that a marketer can do in the world of digital marketing. Learn various other aspects through the Digital Marketing Fundamental program from prasmul-eli.

In two days of training, this ISO 9001:2015 certified program has the following seven discussions:

• Introduction to Digital Marketing Strategy
• Customer Persona
• Social Media Marketing
• Digital Paid Advertising
• Digital Free Advertising
• Customer Journey & Online Sales Funnel
• Digital Marketing Strategy & Workshop

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Learning agility is a concept needed to stay relevant in a dynamic or ever-changing world.

In a world that is constantly evolving and changing rapidly, the ability to adapt and learn from every experience is becoming increasingly important. More than just the ability to absorb new information, learning agility is the art and science of learning quickly and effectively.

For those who want to succeed in the modern era, understanding and developing this ability is not an option, but an urgent need.

This article will explain more deeply about the definition, types, real examples of learning agility in everyday life, and its components.

Definition of Learning Agility

Learning agility is the ability of an individual to quickly adapt and learn from new experiences in an efficient and effective way.

This term was first introduced by Michael Lombardo and Robert Eichinger of Korn Ferry. Learning agility emphasizes the ability to learn from everyday experiences, apply that learning in new situations, and adapt a dynamic approach.

Individuals who have this ability tend not to get stuck in a rigid mindset or way of working. They are able to process new information, relate it to existing knowledge, and find innovative ways to address new challenges.

This ability is important in today's ever-changing world, where technology and business needs are evolving rapidly.

Types of Learning Agility

Learning agility can be divided into several types or dimensions that reflect how a person learns and adapts. Here are the types:

Mental Agility

The ability to think critically and see problems from multiple perspectives. People with high mental agility are able to solve complex problems and are comfortable with ambiguity.

People Agility

The ability to work effectively with a variety of people. Those with high people agility tend to be more able to build relationships and appreciate other people's perspectives, as well as inspire those around them.

Change Agility

The ability to enjoy change and adapt quickly to new situations. People with high change agility tend to be proactive in seeking new opportunities and are able to adapt quickly to change.

Results Agility

The ability to produce extraordinary results under pressure. Those with high results agility tend to focus on the end goal and are able to overcome challenges to achieve it.

Self-Awareness

Self-awareness is one of the important components in learning agility that often forms the foundation for other components.

They are also aware of their personal strengths and weaknesses. Individuals who are self-aware also have a deep understanding of themselves and continue to strive to develop.

Examples of Learning Agility Applications

Learning agility can be seen in various situations, both in professional and personal contexts. Here are some examples:

Business Context

A manager at a technology company who must quickly master new technology in order to lead a new project. This manager learns not only from manuals or formal training, but also from direct experience, asking colleagues, and experimenting with new tools.

Personal Context

An individual who moves to a new country and must adapt to a different culture, language, and social norms. He learns not only from books or courses, but also from everyday interactions, observing others, and adjusting.

Team Context

A project team that must work quickly under tight deadlines. They learn from past mistakes, adjust their approach in real time, and find new ways to complete tasks efficiently.

Components of Learning Agility

Curiosity

People with high learning agility always have great curiosity. They keep asking questions, finding out, and want to understand more deeply about what is happening around them.

Adaptability

They are also not afraid to leave the old way and try something new. They are flexible in their approach and open to change.

Persistence

When facing challenges, individuals with high learning agility also do not give up easily. They keep trying, looking for solutions, and are not afraid to fail.

Self-Reflection

They also often reflect on what has happened, learn lessons, and how it can be done better in the future.

Critical Thinking

The ability to analyze information in depth and make decisions based on available data. This allows them to understand the situation better and take the right steps.

Learning agility is an increasingly important quality in the modern world. In an ever-changing environment, the ability to learn quickly, adapt, and apply new knowledge is key to success.

By understanding this, individuals can begin to develop these abilities and become better prepared for future challenges. Learning agility is also one of the many skills that must be possessed by people involved in the business ecosystem.

Learn through various simulations to encourage good decision-making through the System Thinking and Complex Decision Making program from Prasmul-Eli.

In two days of training, this ISO 9001:2015 certified program has the following four discussions:

• Decision making patterns in simple, complicated, complex & chaotic situations
• Causal Loop Diagram, feedback and delayed feedback in a system
• System thinking in decision and policy making
• Psychological biases in decision-making

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The waterfall model is one of the methodologies developed in the creation of applications or software that is popular because of its effectiveness. This model offers a clear structure and allows the development team to move through linear and well-defined stages.

Although there are currently many new methods that are more flexible, the waterfall model remains relevant. Especially in situations where stability and predictability are top priorities.

This article will explain the waterfall model in full. Starting from the definition, stages, and when is the right time to do it.

Definition of the Waterfall Model

The name "Waterfall" comes from the workflow of this model which resembles a waterfall.

This means that in the waterfall model each stage flows linearly to the next stage without any backtracking or repetition. This means that before the development team can proceed to the next stage, the stage being worked on must be completely completed.

The waterfall model is a method first introduced by Winston W. Royce in 1970. This model allows the software development process to be carried out sequentially, from the planning stage to the implementation stage.

In the Waterfall model, each stage of development must be completely completed, before the next stage begins. This means that each stage produces output that will become input for the next stage.

Although this model has received a lot of criticism for its rigidity, the waterfall model remains a relevant choice. Especially for projects with stable and unchanging requirements.

Stages of the Waterfall Model

The waterfall model is often the choice for projects where needs and goals have been defined from the start. Here are the stages in the waterfall model to allow for a more controlled development process.

Requirements

The first stage in the waterfall model is the gathering and analysis of requirements. At this stage, software developers work with stakeholders to understand and document all system requirements.

The resulting requirements document will serve as the basis for the entire subsequent development process. This is where it is important to be precise in identifying requirements, because changes after this stage can have a significant impact on development time and cost.

System Design

Once the system requirements are clearly defined, the next stage is system design. This design includes the system architecture, database design, user interface, and other required components.

The goal is to provide a technical description of how the system will work. This stage also ensures that all identified needs can be met through this design.

Implementation

At the implementation stage, developers begin translating the system design into program code. Each software module is built, tested separately, and then integrated with other modules to form a complete system.

This stage is often the most time consuming, especially if the project being worked on is large in scale and high in complexity.

Integration and Testing

After all modules have been implemented, the integration and testing stage is carried out.

At this stage, the modules that have been developed are combined into a single system unit. After that, it is tested to ensure that everything works according to the specified needs.

This testing includes functional tests, performance tests, security tests, and other tests according to the system specifications.

Deployment

Once the system has successfully passed the testing phase, it is ready to be implemented into the production environment. This phase involves software installation, data migration, and end-user training.

During the launch, the system is monitored to ensure that no major problems arise and that users can operate the system smoothly.

Maintenance

The last stage in the waterfall model is maintenance. During this stage, the system that has been launched will continue to be monitored and maintained to ensure that it continues to function properly.

If any problems or bugs are found, fixes will be made. Maintenance also includes software updates and adding new features according to user needs.

When is the Right Time to Use the Waterfall Model?

The waterfall model is most appropriate for projects whose needs have been determined and are not expected to change during the development process. This usually occurs in situations where the project has:

• A limited scope.
• The technology used is mature.
• The risk of change is minimal.

Examples of projects that are suitable for the waterfall model include software development for industries with high compliance requirements. For example, in the healthcare, financial, or government sectors, where every step must be well-documented and rigorously tested.

This model is also effective for projects with tight deadlines and fixed budgets. This is because major changes midway can often disrupt the overall schedule and costs.

Although often considered outdated, the waterfall model still has a place in software development. Especially for projects with stable and well-defined requirements.

Overall, although this method has limitations in terms of flexibility, its main strength lies in its ability to fully control the development process.

The waterfall model is just one of two popular models in project management. Learn how to practice it in organizations by following the Project Management 101: Waterfall and Agile program from prasmul-eli.

In two days of training, this ISO 9001:2015 certified program has the following ten discussions:

• Project Management Fundamental
• Define Project Objective
• Develop Scope of Work
• Develop Project Schedule
• Manage Risk
• Introduction to Agile
• Agile Mindset
• Various Agile Practices
• Deep Dive Scrum Framework
• Simulate Sprint

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Business development is one of the key aspects that drives a company's success.

In a dynamic business world, a company's success is not only determined by its products, but also its ability to adapt to market changes. This is the central role of business development.

Business development is a discipline that combines strategy, innovation, and analysis to create sustainable growth opportunities. It's not just about increasing sales, it's also about building a strong foundation for the company's future.

This article will explain various aspects of business development. Starting from the strategies used to the reasons why this role is so important in maintaining the company's relevance in the global market.

What is Business Development?

Business development is a process that involves identifying new opportunities, building relationships, and implementing strategies to expand and improve company performance.

The main task of a business developer is to open up new opportunities that can take the company to a higher level.

In business development, companies do not only focus on revenue growth, but also on product diversification, market expansion, strategic partnerships, and innovation.

Therefore, business development often involves cross-departmental collaboration, including marketing, sales, finance, and product management.

The Role of Business Development

Business development is not only related to sales, but also includes various strategic aspects that help the company in achieving its business goals. Here are some of the main roles of business development in the company:

Identifying New Market Opportunities

One of the main roles of business development is to identify and explore opportunities in new markets, both geographically and by customer segment.

This involves in-depth market analysis to find untapped areas or growth potential that can be exploited. By opening new markets, companies can expand their reach and reduce dependence on established markets.

Forming Strategic Partnerships

Business development also plays a role in building strategic alliances with other business partners, such as suppliers, distributors, or even competitors.

These partnerships can provide access to resources, technology, or markets that the company could not previously reach alone. Through these partnerships, the company can strengthen its position in the market and improve operational efficiency.

Diversification of Products and Services

In an effort to remain competitive, business development encourages diversification of the products or services offered by the company.

This can involve developing new products or modifying existing products to meet the needs of different markets. Diversification helps companies attract more customers and reduce risk by not relying on a single product or service.

Innovation and Technology Implementation

The next role of business development is to play a role in encouraging the adoption of new technologies that can increase efficiency, reduce costs, or create added value for customers. Technological innovation allows companies to compete more effectively and open up new business opportunities that may not have existed before.

Differences Between Business Development and Sales

Business development and sales are two important functions in a company that are often misunderstood as the same thing. However, they actually have different focuses and goals.

Main Focus

The main focus of business development is to find and identify new business opportunities that can drive the company's long-term growth. Sales focuses on selling existing products or services to targeted customers.

Time Frame

Business development has a long-term perspective. It involves developing strategies that may not generate immediate revenue, but will provide benefits in the future.

Approach and Tactics

The approach in business development is more strategic and involves market analysis, competitive research, and partnership negotiations. The sales approach involves more direct interaction with prospects or customers, product presentations, handling objections, and closing sales.

Skills That Business Development Must Have

A professional in business development must possess a variety of skills to succeed in their role. Here are some of the essential skills that a business development professional must possess:

Analytical Skills

The ability to analyze market data, industry trends, and competitor performance is crucial. This helps in identifying opportunities and threats that can impact growth strategies.

Communication Skills

The ability to communicate effectively with various parties, including business partners, customers, and internal teams, is essential. This skill includes speaking, writing, and presentation skills.

Negotiation

Negotiation skills are needed to build strategic partnerships and reach mutually beneficial agreements. This includes the ability to understand the needs and interests of other parties and create win-win solutions.

Problem Solving

The ability to identify problems and find creative solutions is essential in overcoming challenges that may arise in the business development process.

Business development is a strategic process that focuses on identifying and developing new opportunities to drive the long-term growth and success of the company. This is different from sales which is oriented towards achieving short-term sales targets.

A business development must have analytical skills to understand market data, communication and negotiation to build relationships, and many more. In addition to planning and strategy skills, it is also important to understand the right implementation of business development.

Follow the Business Development Planning program from Prasmul-Eli with a two-day study duration. This program is ISO 9001:2015 certified and has the following seven discussions:

• Business planning overview
• Business competition and its environment
• Business opportunities and scenarios to prepare for
• Corporate goals and competitive strategy
• Marketing
• Company operations and Human Resources
• Finance (2 sessions)

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In the midst of tight business competition, marketers continue to look for methods that can increase the effectiveness of their campaigns. One strategy in digital marketing that is increasingly popular and proven to be effective is remarketing.

This article will discuss the concept of remarketing in depth. We will explain why this strategy is so beneficial and how you can optimize it to achieve the best results.

In addition, we will also discuss the differences between remarketing and retargeting, so that you can clearly understand how these two strategies can play a role in improving your marketing campaign.

Definition of Remarketing

Remarketing is a digital marketing strategy that aims to stay connected with people who have previously interacted with your website, application, or e-commerce.

Remarketing allows marketers to create special ads that are aimed at users who have previously visited or interacted with their website.

For example, you visit an online store website to browse shoes, but have not yet decided to buy.

A few moments later, when you are browsing another website or social media, suddenly an ad appears showing the shoes you viewed earlier.

Benefits of Remarketing

Remarketing offers a number of benefits to marketers and businesses.

Here are some of its main advantages:

Increase Customer Reach

Data from Lyfe Marketing shows that around 70-96% of website visitors often leave a page without taking further action, such as purchasing or registering.

However, by using remarketing, you have the opportunity to reach these visitors again.

This strategy allows you to display ads to those who have left the site. This helps increase their chances of making a purchase or other action.

Maintaining Customer Relationships

One of the main benefits of remarketing is its ability to keep your brand top of mind for potential customers.

When you display relevant and interesting ads, you remind them of the products or services that previously interested them.

As such, remarketing can help build brand awareness and maintain existing relationships with your audience.

Increase Ad Relevance

One of the advantages of remarketing is the ability to display ads that are relevant to previous user behavior.

For example, if someone viewed shoes on your site but did not make a purchase. Then ads about the same shoes can appear on other websites they visit.

This can also increase the likelihood that they will respond positively to your ads. Because the ads match their previously known interests and needs.

Increase Conversions

As reported by CyberClick, remarketing can increase conversion rates by up to 50-60% for users who receive ads from this strategy.

This means that this strategy is very useful in encouraging people to buy your products or use your services.

Cost Efficiency

Remarketing is often more cost-effective than traditional advertising. This is because it targets people who have already shown interest in your products or services.

So, you spend your advertising budget only on existing audiences.

How to Maximize Remarketing

To maximize the effectiveness of your remarketing campaign, consider the following tips:

Proper Audience Segmentation

Identify and segment your audience based on their behavior on your website.

For example, you can create a special segment for visitors who abandon their shopping cart without completing a purchase.

Also, consider creating segments based on:

• Specific product pages visited
• Time spent on site
• Number of site visits
• Interactions with specific content (e.g., watching product videos)
• Stage in the sales funnel

For example, you could create a segment specifically for visitors who have viewed a product page more than three times in the past week.

Why? Because they may be very interested in your product but still on the fence. So try to provide a special offer or additional information that will convince them.

Personalize Your Ad Messages

Tailor your ad messages to your target audience segment.

Personalized ads tend to be more effective at capturing attention and driving action. For example:

• Use language that is relevant to where they are in the sales funnel.
• Offer a solution to a specific problem they may be facing.
• Include testimonials that are relevant to the product they are interested in.
• Create a sense of urgency with a personal, limited-time offer.

For example, for visitors who have viewed several camera products but have not yet made a purchase.

You could show an ad that says, “Still confused about which camera to choose? Check out our camera selection guide or chat with our experts!”

Limit Ad Frequency

Don’t bombard users with too many ads. Set a reasonable frequency limit to avoid ad fatigue in your audience.

Optimize Landing Pages

Make sure the landing page associated with your remarketing ad is optimized for conversions. It should be relevant to the ad and offer a good user experience.

• Use a strong headline that is relevant to the ad that was clicked.
• Include social proof elements such as testimonials or product ratings.
• Minimize distractions and focus on a clear action (CTA).
• Optimize page loading speed to reduce bounce rates.
• Create a responsive, mobile-friendly version.

For example, if your ad offers a 20% discount on a particular product, the landing page should immediately display the product with the promised discount and a clear “Buy Now” button.

Test and Analyze Regularly

Conduct A/B testing on elements of your campaign such as headlines, images, and ad copy.

Conduct comprehensive testing across elements:

• Test different ad formats (static banner vs. animated vs. video).
• Experiment with different value propositions in your ad message.
• Compare the effectiveness of different CTAs.
• Test different images or visual elements.

Also, conduct in-depth analysis of your campaign data:

• Look not only at click-through rates, but also at view-through conversions.
• Analyze performance over time.
• Evaluate campaign effectiveness across platforms (desktop vs. mobile).
• Use multi-channel attribution to understand the role of remarketing in the overall customer journey.

What is the Difference Between Remarketing and Retargeting?

Although the terms remarketing and retargeting are often used interchangeably, there are some differences between the two.

According to Search Engine Journal, the main difference between the two lies in the strategy and who you can reach.

Retargeting: focuses on paid advertising. The goal is to show ads to people who have viewed your product before, so that they are interested in returning and buying your product.

Remarketing: focuses on reconnecting with people who have already interacted with your brand, usually through more personal methods such as email.

So, remarketing focuses more on reconnecting with people who have already interacted with you. While retargeting is a part of this strategy that uses paid advertising to get their attention back.

Remarketing is a powerful digital marketing strategy to increase conversions and build stronger relationships with potential customers.

By targeting audiences who are already familiar with your brand, you can significantly increase the effectiveness of your ad campaigns.

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Join prasmul-eli's Digital Marketing Fundamentals class and improve your skills in designing successful campaigns!

Marketing mix is ​​one of the fundamental concepts in the world of marketing that is important for business people and marketers to understand. This concept has evolved over the years and remains relevant today.

This article will discuss in depth what marketing mix is, its purpose, benefits, and concepts related to it.

Definition of Marketing Mix

Marketing mix is ​​a basic concept in marketing that refers to the combination of elements used by companies to promote and sell their products or services.

This concept was first introduced by Neil Borden in 1964, inspired by James Cullington's idea in 1948. Borden initially compiled a list of marketing mix elements consisting of 12 aspects.

However, this concept was later simplified and popularized by Jerome McCarthy in 1968 into four main aspects known as the 4Ps: Product, Price, Place, and Promotion.

Marketing Mix Concept

Here is a more detailed discussion of the concepts in the 4P marketing mix:

Product

A product is a good or service offered by a company to meet the needs or desires of consumers. It can be a physical product, service, or even an idea.

In developing a product, companies need to consider quality, design, features, brand name, packaging, and service.

• Quality: includes durability, reliability, precision, and ease of use of the product.
• Features: characteristics that complement the basic functions of the product.
• Design: the appearance and function of the product.
• Branding: a name, symbol, or design that identifies and differentiates the product.
• Packaging: a product container or wrapper that also functions as a marketing tool.
• Service: additional services that enhance the customer experience, such as a warranty.

It is important for companies to do extensive research before developing a product, because each product has a fluctuating life cycle.

Starting from the growth phase, maturity phase, to the sales decline phase.

Price

Price is the second important element in the marketing mix. Pricing is a decision that affects the profitability of the company.

Some factors to consider in pricing include:

• Costs of production and distribution
• Desired profit margin
• Competitor prices
• Customer perception of value
• Elasticity of demand
• Pricing strategy (e.g., skimming or penetration)

Place

Place refers to how the product is distributed and made available to consumers.

This includes the selection of distribution channels, logistics, sales locations, and accessibility of the product. In the digital age, “place” also includes online platforms and e-commerce.

Promotion

Promotion involves all communication activities that companies undertake to inform, persuade, and remind consumers about their products.

This can include advertising, sales promotions, public relations, personal selling, and direct marketing.

Over time, the concept of the marketing mix has evolved. Some marketing experts have proposed adding new elements.

One of the popular ones is the 7P concept, which adds three new elements:

People

In the 7P marketing mix concept, 'People' refers to all individuals involved directly or indirectly in delivering a product or service to consumers.

These include:

• Employees: especially those who interact directly with customers.
• Management: makes strategic decisions.
• Company culture: influences how employees interact with customers.
• Customers: can influence the perceptions of other potential customers.

Process

Involves the methods and workflows used to deliver the product or service. This includes:

• Ordering and payment systems
• Queue management
• Service standardization
• Customer complaint handling

Physical Evidence

The environment in which the service is delivered and the interaction between the company and customers takes place. Examples are:

• Facility design
• Equipment
• Employee uniforms
• Website

Another concept that has developed is the more consumer-oriented 4Cs. Robert F. Lauterborn proposed these 4Cs in 1990:

1. Customer Solution: focuses on the customer’s needs rather than the product.
2. Cost: considers the total cost of ownership to the customer.
3. Convenience (Convenience): emphasizes ease of access for customers.
4. Communication (Communication): emphasizes two-way dialogue with customers.

Marketing Mix Objectives

The main objective of the marketing mix is ​​to create an effective and comprehensive marketing strategy.

By considering the four 4P elements, companies can:

1. Position their products or services appropriately in the market.
2. Attract target consumers.
3. Create value for customers.
4. Build competitive advantage.
5. Increase sales and market share.

Quoted from Investopedia, the marketing mix can help organizations make strategic decisions when launching new products or revising existing products.

Benefits of the Marketing Mix

The application of the marketing mix concept provides various benefits for companies. Some of them are:

Better Financial Analysis

The marketing mix helps business people understand the flow of costs and revenues according to market conditions.

Good Resource Allocation

The next benefit of the marketing mix is ​​that companies can allocate their resources more effectively.

Facilitating the Communication Process

This concept helps allocate responsibilities for each division with clear tasks.

Simplifying Marketing Strategy

The marketing mix simplifies and unifies various marketing activities into a more manageable framework.

Increasing Marketing Effectiveness

By considering all elements, companies can create a more effective and integrated marketing strategy.

The marketing mix is ​​an important concept in planning and implementing a marketing strategy. By understanding and applying this concept well, you can create a more effective and integrated marketing approach.

However, flexibility in applying the marketing mix concept is very important. As technology advances and consumer behavior changes, you may need to adjust your approach.

To help you understand more deeply and apply these principles effectively, we invite you to take the Customer Satisfaction & Relationship Program class from prasmul-eli.

This program is specifically designed to provide in-depth insights on how to improve customer satisfaction and build strong relationships with your customers.