What Is Pricing Strategy In Marketing?

SEM (Search Engine Marketing) is a strategic online marketing strategy employed to increase a site’s visibility in search engine results rankings. While the industry terminology once referring to both organic search activity like search engine optimization (SEO), and paid search marketing activities like paid advertisements, it today typically refers only to paid search marketing. The term SEM typically refers to a set of internet marketing strategies. These include Pay-Per-Click (PPC) Advertising, Search Engine Marketing, and banner Advertising. These are just some of the most popular SEM strategies. Below are some of the benefits of each of these strategies.

Paid Search Marketing – With PPC Advertising, advertisers can bid on search keywords and receive a range of search engine result rankings for those keywords. When a user types in a searched word or phrase, the advertiser’s ad shows up near the top of the list. Each time the user clicks on the advertiser’s ad, the advertiser is charged a small fee by the search engines. This form of SEM works well when an advertiser wants to take advantage of a particular market, but is not expecting much long-term traffic.

SEO (Search Engine Optimization) – SEO works by increasing a site’s search volume through on-site optimization using specific keywords or phrases. The goal of SEO is to rank high in the SERPs (search engine result pages). Various techniques are used to achieve this, including link building, directory submission, content creation, and keyword research. While SEO provides immediate visibility, it does not provide a large long-term benefit. As stated above, Search Engine Marketing offers a longer-term gain.

PPC Marketing – Pay Per Click Marketing, or PPC, is the opposite of SEO. PPC Marketing is more direct and therefore more expensive. Advertisers bid on search engines for keywords associated with the product or service they wish to advertise. Each time someone clicks on one of these ads, the advertiser is charged a small fee. As the saying goes, “You pay only for what you get”, which is why PPC Advertising is geared toward attracting prospects that may not purchase immediately, but will eventually make a purchase.

Search Engine Marketing or SEM requires long-term commitment. In order to rank high, advertisers must consistently expose their sites to potential traffic. These strategies require daily study to determine what words and phrases are most likely to draw attention, which keywords bring the highest return for the smallest expenditure, and which keywords can be used to build the fastest ranking possible. Search Engine Marketing involves a variety of processes and techniques to include: website optimization, paid advertising, and pay per click services. These techniques are designed to help advertisers reach their desired search engine rankings in hopes of attracting the greatest amount of traffic.

Researching pricing methods in marketing is essential, as many times the least expensive is not necessarily the best. A common practice in Marketing is to offer discounts or freebies to lure visitors. This practice can backfire, and many times Marketing professionals will not offer discounts or freebies if they believe the prospect will not purchase from them in the future. Therefore, it is important to understand the different methods of pricing in Marketing in order to determine the best pricing strategy for your business, and to remain flexible and willing to change pricing if it does not work out.

Understanding how to determine the most cost-effective Strategy in Marketing is very important. There are four strategies, or tactics, in Marketing. The first is the traditional Techniques such as cold calling, direct mail, and brochures/pamphlets. The second tactic is by using direct response advertising, also known as TV advertising, radio advertising, and print media advertising. The third strategy is by using multiple channel strategies, also known as multi-channel strategies.

The fourth strategy in Marketing is called tracking, which uses cookies to track where visitors came from, when they left, and what pages they saw on the Internet. It is important to know where the traffic came from, as well as what they clicked on. The cookies that are placed on each visitor’s computer will give Marketing professionals with a record of what each visitor viewed, when they visited, and what pages they went to. This data can be extremely valuable and is crucial to determining whether or not the website needs further optimization in order to produce more results pages for the target audience.

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