In the world of business, the propensity for any company to encounter problems during its operations is quite inevitable. In the company that I work in, there are also several problems that we face on a daily basis. The company is called Royal Solutions that offers a variety of services with the main focus being on Digital Marketing as well as Embroidery services. In the digital marketing platform, the company serves our clients by advertising for them products that they sell which range from clothing, kitchen equipment, and furniture, personal accessories such as watches, jewelry, and household electronics among others. These products depend with the client who is selling them and our company then comes in as the middle-men link to the prospective customers for their products. Coupled with these services, Royal Solutions also offers embroidery services and printing to the clients and this is mostly done on the same products that we advertise. As such, this offers an advantage to the firm as it can get two types of contracts from a single client hence maximizing on its profit margin. This paper will address one of the major problems that are facing the company as obtained from data collected and analyzed regarding the performance of the same.
In digital marketing, one of the most challenging tasks that the company faces is keeping up with the technology as there are constant changes with new advancements occurring every now and then. The speed with which the online stage changes with is quite fast and this is a major problem to not only our company but also other companies that rely on the same. For this reason, it becomes very hard for the company to reach its clients as they tend to switch from the use of one technological device to another. Several years ago, a lot of information was passed through the media conveyed via television, radio, newspapers, and magazines (Wymbs, 2011). In the recent times, the internet has exploded with many young people as well as other users shifting their focus on this medium. There are many devices which have been invented such as smartphones, tablets, laptops, and others which have internet connectivity (Chaffey et. Al., 2013). With this trend in internet usage, our company mainly relies on the internet for advertising its products. There are many challenges in using in this, but the biggest is that there are many cases of fraud over the net.
The fraud that occurs in the marketing industry is described as Ad Fraud (Advertising Fraud) and it has cost our company a lot of money. Ad fraud occurs in several ways and thus it is difficult to manage. For instance, research has shown that in some cases some impressions that are paid for do not get the expected views hence becoming unserviceable. Data showed that a particular advert on a product receives 50-60% of views from the prospective customers (Deshpande, 2008). As such, almost half of what the company spends on advertising goes to waste as it is never seen. According the accounting department, the company loses about 5000$ per year to Ad frauds. This is a hefty amount and it strains the business’s financial strength. It is, therefore, an important parameter in the general performance of Royal Solutions Company as it affects the financial position of the same. Such huge losses per year translate to reduced profits hence bad performance for the business and should be controlled. The best way to control this loss is to collect data that will identify the reasons that are causing the fraud.
There are two main methods of collecting data for digital marketing variables which are either qualitative or quantitative types. The quantitative method relies on the use of actual numerical figures to describe the data and would be usable for investigating this company’s marketing problem. There are several ways of using the quantitative method of collecting data such as conducting surveys, interviews, and questionnaires among others (Driscoll et. al., 2007).
The first technique of collecting quantitative data which is, surveys, can be achieved through various means such as telephone surveys and mailed surveys. Telephone surveys, as the name suggests, are done over the phone where the respondent is asked to answer questions regarding their experience on a particular product and also how they came to know about the product among other questions. The mailed surveys are sent through mainly the email and the customer is given sufficient time to give their feedback on the subject of the products there are buying from the company. Interviews and questionnaires are done face-to-face whereby the respondent is asked questions to which they give answers either by mouth or through writing. The two are very efficient methods of collecting data as the interviewers are able to get better explanations which are more accurate from the respondents. The interviewer is also to maintain the interest from the respondent for a longer period of time thus they inevitably obtain feedback unlike other methods like mailed survey whereby the respondent may fail to reply (Creswell & Clark, 2007).
Once the data is collected from the clients, the information is taken for analysis which will establish its validity, completeness, precision, and reliability (Driscoll et. al., 2007). This also enables them to evaluate the impact that the information acquired regarding their performance hence they can formulate the necessary action to take in solving the same. As such, the data is analyzed in a process called data management which involves categorizing the answers given in accordance with their meaning. After the data is carefully scrutinized, the information can be represented in the form of graphs and charts which are easy to interpret and guide on the net step to be taken.
Even though the management is taking keen steps to reduce the losses caused by Ad frauds and other inappropriate marketing methods, it still remains a major problem that is derailing the company. The financial losses felt have at many times led to the loss of good clients as they feel unsatisfied that they received the quality service which they paid for. The company also loses about 5000$ per year on Ad frauds which necessitate for the adoption of mitigation measures for the same. To establish the best methods of solving this predicament, appropriate data is collected and analyzed in a professional way. However, there is still much to be done to completely eradicate this problem.
Chaffey, D., Smith, P. R., & Smith, P. R. (2013). eMarketing eXcellence: Planning and optimizing your digital marketing. Routledge.
Creswell, J. W., & Clark, V. L. P. (2007). Designing and conducting mixed methods research.
Deshpande, R. (2008). ” Paradigms Lost”: on theory and method in research in marketing. The Journal of Marketing, 101-110.
Driscoll, D. L., Appiah-Yeboah, A., Salib, P., & Rupert, D. J. (2007). Merging qualitative and quantitative data in mixed methods research: How to and why not. Ecological and Environmental Anthropology (University of Georgia), 18.
Leeflang, P. S., Verhoef, P. C., Dahlström, P., & Freundt, T. (2014). Challenges and solutions for marketing in a digital era. European management journal, 32(1), 1-12.
Wymbs, C. (2011). Digital marketing: The time for a new “academic major” has arrived. Journal of Marketing Education, 33(1), 93-106.