Growing a Business

Growing a Business

Are you ready to test your knowledge about growing your business? This ten-question multiple-choice quiz will explore some fundamentals regarding your marketing plan, SEO, and marketing strategies. After completing all ten questions, click "Grade Me!" at the end of the quiz to see how you did.

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A _____________ plan is a roadmap to get your product or service into the hands of the customers who want or need it.
A marketing plan is a roadmap to get your product or service into the hands of the customers who want or need it. It provides an analysis of your product or service, existing or potential customers, and what sets you apart from the competition in the mind of your target customer. Your marketing plan can be short or detailed. The important thing is to spend time researching your market.

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What does a marketing plan provide?
A marketing plan provides an analysis of your product or service, your customer, and what sets you apart from the competition and in the market. The first step is to develop a detailed analysis regarding what your product or service will be and the overall presentation of your business in terms of aesthetics. Next, you would dissect who your customer is and focus on their demographics, behavioral traits, and psychographic traits. Finally, you would analyze who your competition is and what sets you apart from them.

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What does a SWOT analysis stand for?
A SWOT analysis stands for strengths, weaknesses, opportunities, and threats. Strengths will involve your staff's skills, the technology you have developed or know how to use. Weaknesses will analyze whatever roadblocks you have, such as a small marketing budget common for small businesses. Opportunities will show what your company can offer in your geographic area. Threats can involve other companies that offer a cheaper version of your product or companies that offer something similar in your area.

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What type of marketing involves sending unsolicited contact in the form of telemarketing, direct mail, or handouts?
Direct marketing involves sending unsolicited contact in the form of telemarketing, direct mail, or handouts. One of the biggest advantages of direct marketing is that it allows you to target your customers with great accuracy, making it the most cost-effective advertising method.

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What are the essential elements of internet marketing?
All of the above are essential elements of Internet marketing. An online presence is a must for any business. Social media provides an essential point of engagement with your existing and potential customers. A website that is appealing and engaging is step number one. Your goal with search engine optimization is to get on the first page of the search engine results and preferably in the top five. You do this by consistently updating your content with valuable, engaging copy.

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What can you use to improve search results for your website when using a search engine?
Search engine optimization (SEO) will improve your website's search results when customers are using a search engine. There are various ways in which you can optimize your site. WordTracker or Google's Keyword Tool can find potential keywords relevant to your business. Your website's theme needs to drive your content strategy and be broad enough to provide some variety in your content but narrow enough to relate to your business. Blog posts are also great for SEO, especially when you share your blog posts on social media sites.

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What are some goals to be met with social media marketing?
There are two major goals for social media marketing—the first deals with creating engagement through your social media posts. Engagement deals with social media users commenting, sharing, liking, and reposting your content. Interaction between the social media account and users is important to elevate your customer service. When you have social media content with high engagement, you will directly boost your website traffic, increasing sales.

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What is the most popular social media tool for marketing?
The most popular social media tool for marketing is Facebook. Facebook has over 1.4 billion users who spend at least 40 minutes a day on average. The website's advertising is more affordable than most and offers the ability to set a budget so you do not accidentally exceed it.

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Why is content marketing so important for small businesses?
Content marketing is essential for small businesses because it is used to attract and develop a specific target audience with the ultimate goal of creating true customer engagement. For example, your company could feature one of your customer's social media posts on their page, leading to more reach and engagement with your audience.

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Engagement, impressions, and reach are a metric for which marketing strategy?
Engagement, impressions, and reach are a metric used for social media marketing. Engagement deals with how involved people are with the content you create. You can use this metric to understand what works and what doesn't. Impressions measure the total number of times users saw your post or story. Reach is similar to impressions, but reach refers to the total number of unique users that saw your post or story.

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