Online buying has grown tremendously in the previous decade since it represents a more cost-effective and handy alternative to traditional shopping. However, in the beginning, customers were concerned about the following: leak of personal information, online fraud, inconsistency between the ordered product quality and the desired product quality, unsuccessful shipping, and so on. As people have come to appreciate the benefits of online buying, these fears have diminished.

MUSEUM: ENVIRONMENT PROTECTION AND AN INCUBATOR FOR SUSTAINABLE DEVELOPMENT.

People shop online for a variety of reasons, including the fact that they don’t have to leave their homes; they can get the same goods at a lesser price by comparing prices on multiple websites at once. Consumers want to avoid the stress of dealing with the retailer face-to-face, as well as the traffic bottlenecks that often arise on the way there. Online shopping gives consumers with more information and possibilities to compare items and prices, with a larger product selection, and with the convenience and ease of discovering desired things on the Internet. Online commerce has been suggested to be more convenient and faster for today’s consumers who are looking for convenience and speed. Consumers can be piqued by an online banner ad or promotion, which can pique their interest in a specific product via advertisements. It is possible for the customer to seek extra information before making a buying decision. If they don’t have enough information, they’ll look for them online, such as through online catalogs, websites, or search engines.

SMART Objectives

A website visitor is the first step in the sales funnel for an inbound marketer. Most visitors to a website aren’t ready to make a purchase when they arrive. However, in order to send visitors farther down the sales funnel, one must first load the top of the funnel with qualified leads.

It is the number of people who follow your social media accounts. The magnitude of an inbound marketing campaign’s potential audience is reflected in its social media reach.

Subscribers to a blog are those who have agreed to receive an email or RSS feed notification whenever a new blog article is published. In addition to being a consumer of marketing information, blog subscribers help Google improve search engine rankings.

BUS 306 – Quantitative Business Analysis

Marketing information that has been shared by a member of your social media audience is called a social share. Sharing your material on social media is important since it increases the number of people who see it and improves search engine rankings. It’s a signal to Google that the content is good if it’s shared on social media.

Leads are visitors to a website who have provided their email address in exchange for access to a premium piece of content. It is possible to turn leads into customers by allowing them to subscribe to your email marketing campaign. The first chance to qualify website visitors against the ideal consumer profile is also provided by these tools.

The percentage of website visitors who become leads in a certain time period is known as the lead conversion ratio. In order to meet lead targets, less website traffic is required if the lead conversion ratio is high. Inbound marketing’s lead conversion rate is a good indicator of its success.

This is the percentage of persons who get your marketing emails that open them. An email’s open rate is a solid indicator of its relevance to the recipient.

A marketing email’s clickthrough rate (CTR) is the percentage of recipients who open and click on a link in the email. As a marketing tactic, this indicates that the recipient is open to receiving it.

The clients who come via inbound marketing are those that came across the company’s website or social media accounts and decided to buy something from them. Inbound marketing initiatives are judged on this metric alone.

BIM302 Assignment Answer Sheet

By source, the customer conversion ratio is the percentage of leads that were converted into customers (search engine, email marketing, social media, etc.) Inbound marketing may be measured more granularly and the most effective marketing channels can be identified using this method. When allocating resources, it’s helpful to focus on those that yield the greatest profit.

Size of the Potential Customer Base

Health Threats

More than 1,000 people are needed to get a 95 percent confidence level in the results. In this case, the error margin is set at 5%.