& Strategy Proposal - Research Paper Example

The latest trends in internet marketing including the use of apps marketing is some of the ways in which firm can actually achieve its targets. This business strategy proposal will present discussion on the use of affiliates as well as the lead generation as possibly two important methods through which Jewelry for All to increase its revenue. Lead generation Customer acquisition is considered as one of the key strategic variables for the organizations. Firms like Jewelry for All working in online market need to find ways through which they can further penetrate into the new and existing markets.

Online lead generation is one cost effective method which if utilized properly can increase the number of customers for our firm. Lead generation can be effective in the sense that it can allow our firm to utilize the strengths of other firms while gaining extra exposure to the market. Through lead generation, firm can actually tap into the new possibilities and further expand the market with the support of strong personal selling and other marketing techniques. (Rees, 2010) In order to successfully implement this strategy, it is important that the firm must develop strategic alliances with different firms from whom further leads can be generated.

Formation of strategic alliances will allow the firm to utilize the strengths of already established players in the market while at the same time gaining exposure to the larger market. (Charlton, 2010). We should aim initially aim at those firms which are offering the brick and mortar type of business selling jewelry in on an offline market through their stores. For each lead generated, we should be able to pay reasonable price which may be tied with the final value of the sales made. It is important to note that this approach will require coordination with not only the firms generating leads but with the potential customers identified through this lead generation process.

Affiliate marketing Affiliate marketing is another effective way through which the firm can effectively reach to the new customers. The increasing popularity of the affiliate networking sites and their relative brand strength can serve as one of the best strategic tools for the firms to expand into new markets and take advantage of the brand reputation of other firms. (Swan, 2010). In order to set up an effective affiliate program, it is important that the firm must offer higher commission rates to the affiliates.

Further the development of a tiered commission structure would further induce the experienced affiliates to market and sell our products. It may be possible that the firm use different affiliates for different products i.e. for less expensive items such as gems and materials, firm can target different affiliates however, to sell the high value items, more experienced and established affiliates need to be listed. In order to successfully develop the affiliate program, firm can also use the social networking sites such as facebook and twitter to gain access to the unique and large number of affiliate marketers.

(techcrunch.com, 2009) Plan of Action It is recommended that the firm should adapt the affiliate