Connecting Buyers to Relevant Brands
BMW gave us The Ultimate Driving Machine. Bounty is the Quicker Picker-upper. Meanwhile, companies like McDonald’s have had innumerable slogans, from I’m Lovin’ It to Put a Smile on. These slogans are memorable because they tell the value proposition of the brand, underscore the company’s mission and speaks these things clearly. If your slogan doesn’t accomplish the preceding then your slogan is terrible. [Read more…]
Alright, it’s not so much a manifesto as it is best practices. Manifesto just sounds so much better. The point that businesses need to control their message has been misconstrued as of late, though. On one end, some businesses haven’t resigned to the fact that their messaging is less powerful than the recommendations of others. On the other end is businesses that can answer every message and engage heavily in every forum, but forget that the internet isn’t the only place they interact with consumers. [Read more…]
Yes, I’m convinced of it; social media (SM) is Amway. After reading a blog post by Jay Baer (@jaybaer) last week, entitled ‘Blinded by the White,’ I’ve been mentally engrossed in a thought that – not unlike other industries – social media leaders have emerged and surprise, surprise they look alike! While I slightly disagree that social media is a good ol’ boys’ club akin to the NRA in it’s pastiness, I do feel as though there is an elitism and social strata that I’ve yet to figure out.
A good friend, and social media mafia under boss of sorts, David Murray, had a different take on Jay’s post, though. He noted that there is diversity but posed the question of whether or not SM is the new country club. I tend to be more in line with this type of thinking about SM. I don’t see the industry as closed off to minorities and women so much as I see there being an elite group of practitioners receiving the bulk of the benefit of SM – trickle down social-nomics, if you will.
I’ve had this idea for a while, but Jay’s post and Dave’s comments really helped crystallize the thought for me. There are some excellent social media practitioners from every demographic in this space. However, there are only a select few that get the benefit of what I like to call the echo chamber of SM. Given that this medium is naturally set up so that anyone can inexpensively gain scale, why is it so difficult to break through? There are likely two reasons this is true.
Don’t misunderstand my bluntness here, either. I’m not knocking the hustle, merely pointing it out as a matter of human nature and fact. No matter how great of a post I write, why would a Chris Brogan or Amber Naslund read it, promote it or even have the time to do so?! They’re busy and I don’t offer enough value for them to take that time. I make time/benefit decisions every day in my work, and am sympathetic to the plights of busy people.
The rub, however, is in the rhetoric. It is difficult for me to see posts about engagement, sharing and community, by the leaders of the movement, but little reciprocation. Instead, I feel like I’m 10 years old again, and I can hear my Dad saying, “do as I say, not as I do” while peering authoritatively over the top rim of his glasses. The elite benefit by massive followers sharing their material, therefore building up their social influence and allowing them to capitalize – handsomely – on that influence. However, there are very few times that I have seen or felt the tug up the ladder.
Hey if I was the Steve Van Andel or Doug De Vos of SM, I wouldn’t have time for you peons either. Luckily this is not a goal of mine but I would like to see growth by some of the other smart people in SM I know. So, it would make sense to put down our sycophantic ways and begin to create new networks that support quality individuals that have simply not gotten the traction from the faction.
Who’s with me!? If so, please Tweet this and tell people how awesome I am; I hear it’s great for my social street cred. Not to mention, if you scratch my back I’ll scratch yours. No, seriously, I’m not big enough to ignore you yet.
So, you have a great idea and want to start a business – good for you! Along with everything else you have to worry about (products, marketing, accounting, employees, profitability) you also need to beware of the hidden entrepreneurial danger. It lurks in the shadowy depths of good meetings, hot ideas and the expertise of others. It’s lack of follow through and general apathy.
It’s easy to cure your own apathy, especially when paychecks rely on project and task completion. The true self-starter is able to get others, that show less urgency, to operate on a schedule consistent with their needs. Beware of your partners and suppliers holding up the show. If you want to be great, you’ll learn how to manage those relationships to work with the timetables that are needed for your business to be successful. It stinks, I know, because managing personal behavior is difficult enough – let alone someone else’s. But trust me, it’s necessary.
I believe it was Ben Franklin that said, “expect the worst and be pleasantly surprised when it doesn’t happen.” If we were in church I’d be yelling preach. But we’re not so I’ll yell chuuch to ol’ Bennie F. What he says (or what I think he says) makes fantastic sense. Instead of being happy when it doesn’t happen, though, I’ve decided to proactively start to sit on vendors like park benches. It’s not fun and I’d much rather allow people to do what they say they’re going to do, when they say they’re going to do it. Unfortunately, it’s rare when that happens.
Setting up a process for managing the completion of projects when most effective for your peak profitability is key. Part of that strategy may be managing the behavior of a partner/vendor/employee to get things done in the way and time your business needs.
It’s funny, we (me included) are often talking about Customer Relationship Management tools. Sometimes I feel like we need a Business Relationship Management tool, to effectively manage communications with our business partners.Seriously, this idea could save a business or three. I wonder who can help me get this launched? Hmmmm…
Inquiring minds want to know – do you have any tips for managing relationships and keeping people on task?
Statistics show it takes 60% more effort, money, time, et al to create a new customer. It’s like making a new friend. You have to figure out what you like to do together and whether or not they’ll be dependable. You have to put in some serious effort to let them know that you care. Meanwhile, your friendships that you’ve had a while continue to be of great value by simply proving loyal on a regular basis. Building a business is the same way. Here are some ways that you can utilize a friendship strategy with your customers.
What better way to enjoy the company of your friends and inspire loyalty than to host them? When I say host, I mean provide something at your place that allows them to socialize and enjoy the fact that you’re all connected. Business people would say provide some added value. You never know what kind of value one can derive from a small investment, so invest in the people that support you! In only makes logical sense.
To do this, you’ll have to put processes in place that allow you to track who is regularly visiting and purchasing. Try opt-in email and mobile strategies like rewards programs. Give customers the option to sign up in-store or online. I like Place Pop as a mobile and web loyalty/rewards application program. It provide great flexibility and convenience for the business and the customer.
Ever see something and immediately think of a friend that something would “be perfect for”? I love cigars, and recently had a friend send me a text message about Romeo y Julieta’s on sale at the JR Cigar near my job. I was so thankful, that I’m sure to hook him up with a “stick” when I see him next.
Since you’re capturing purchases, utilize that information to make suggestions or let all purchasers of a certain product know when it goes on sale. The loyalty that can be created by this simple act can be more valuable than waterproof boots in a snowstorm.
Adversarial relationships rarely work, so create some loyalty by forming friendly relationships with your best customers by using the help of a customer relationship management tool. Your customers will thank you, and so will your margins.
Yes, it is true. While I don’t claim ministerial prowess or even great oration skills, I do know
a truth when I hear/read one – whether from the pulpit or the pdf. Delivering truth is the situation the digital advertising industry currently faces. How, you ask? If you haven’t noticed, there is an onslaught of negative press and backlash about what digital marketers are collecting regarding online behavior; personally identifiable information; how their creating target audiences and which companies are “going too far.”
One only need go to the Wall Street Journal to read an article of carefully crafted and curiously self-omitting half truths about what the industry is about and why advertisers feel the need to gather information about online behavior. Many of the articles, interviews and generally accepted myths I’ve read and heard have been not only off base but close to fear-mongering. As an online advertising industry, of which automotive represents roughly 10%, we have done a poor job of getting ahead of the story with education and transparency. We all know what follows lack of understanding…fear.
One of my favorite organizations, the IAB, has done some good work putting together a document that proposes we self-regulate the industry and educate the constituents. It can be found on their website, under ‘Self Regulatory Principles for Online Behavioral Advertising.’ There are 7 tenets (they call them principles) that we all on the data and customer facing sides of the industry should follow. They are:
To learn more about each, and see how they are proposed to be put in to practice please click on the above link to the document. The most important thing we can do to keep the internet a place where people can inexpensively exchange ideas, is to bring relevant advertising content. Without ad dollars, the internet will lose some of its egalitarianism, creativity, and public support so we must all do our part to make sure it continues to grow unfettered by complicated pay-for-content models.
I’m proposing each advertiser take a good look at what they can do to increase education in an effort to reduce fear. Once people learn about what is actually being done by reputable companies, they see much less need to worry and regulate a growing industry designed to bring the most relevant content to the eyes of web surfers. As long as you heard me I’m stepping off of my soapbox.
You may have thought that the direct-response digital series had lost some steam. Au contriare, mon frere. There have been some technical difficulties at the Hand Raiser offices, but Ryan Meray at C! Tech Solutions got us back in the game…we’ll be at 100% capacity soon – but I digress. The real reason we’re here is because I want to talk about mobile. While thinking of ideas for this topic, I was serendipitously introduced to this eMarketer article in my Twitter stream. I am so lucky sometimes, people might confuse it as good.
In brief, the article states that mobile banners out perform standard banners in Click-Through Rates (CTR) and Conversion. In fact, for rich media formats (like floating ads and commercial breaks) the metrics on mobile double up standard web ads in the positive column. Everyone – including myself – have been predicting mobile to blow up like a smoker at a gas station for the past couple of years. It has not happened. At least not yet, that is.
Statistics such as the ones in the eMarketer article suggest that the proverbial shark should be jumped very soon. Total smartphone purchase intent, as represented in the following chart, is at an all-time high of 16.4% according to Change Wave Research. With 52% of those surveyed planning on buying an iPhone, the iAd purchase of Quattro means solidarity among that ad platform. Plus, their $148 Earnings per Thousand (in some instances) number doesn’t hurt either. Android, the other big market share winner doesn’t realize as high of a return on the AdMob platform they run, but I think it is coming soon.
So, if you follow the money it is clear that demand from advertisers and app developers will be there soon. Why? It all comes down to purchase intent study. Whether it is SMS, mobile video, or mobile ads purchase intent is higher on mobile/smartphone devices than online in almost every category, says Mobile Marketer.
Not until recently have I seen data this compelling. Between the growth of smartphone purchase (where most of the mobile ads and purchase decisions are made) and the high dollar opportunities for brands, advertisers, and app developers alike – the explosion is as inevitable as death and taxes.
My recommendation to you, Mr./Mrs. Small Business Owner, is if you’re thinking about getting into mobile do so now. The benefits realized from a quality direct-response campaign could be colossal. Just make sure that your program is integrated with the rest of your messages (as I will always tell you) because ad awareness, brand awareness, and acceptance are all raised with smart, relevant and well targeted mobile campaigns.
If you’re already using mobile, what ad platform do you use? Have you found one OS to be more or less effective for your products?
In my last post, I started on a bit of a rant, which has led me to do some research on digital direct response ad effectiveness. That research has gotten me all fired up to do the second post in the Direct-Response Digital series – online video. In the product life cycle of technology, one could hardly say that online video is in the growth stage. With the statistics that I’ve reviewed, I would have to say that it lies somewhere in between growth and maturity. Sites like Hulu, DailyMotion, Netflix and even YouTube continue to gain users and grow, but the heaviest users are fairly mature – sort of like a 24 year old with their head on straight.
So, what does this have to do with Direct-Response Digital you may ask? Everything. Video represents an opportune growth area for businesses attempting to go small to be big. As Comscore put it, “getting small (and relevant) is the new big.” While economies of scale and that’s a lot of zeros ad buys dominated television, online finds relevance in hypertargeting to be more beneficial for advertisers. You might be able to target 18 year and older business travelers who watch video and use multiple screens to consume media. As comScore put it, 52% of the 39 million users in this category watched online video in the last 7 days. Do you think that it would be nice to hit this nearly 21 million person population with a call to action?
Okay, you might be saying, people online don’t want to be hit with direct response messages. This is why you started this whole quest, right? My answer: no. I started this whole quest to prove the opposite, and data shows that a certain segment of the population do want to be messaged in this way. Supposedly, there are two types of online video viewers. Population A is looking for transportation and escape. Population B is looking for information and education. Population B is the sweet spot for direct response messages. Their profile states that they want to elevate, in general. More specifically they’re (amongst other things) in action mode and more likely to take action on a relevant message, immediately. This is the part where you tap your index finger against your pursed lips as if you’re about to come up with something profound.
The statistics back this up, also. When compared to other forms of direct response ads, online video performs quite well. Direct response metrics such as click-through rate (CTR) are 0.1% for online images/display ads, while online video realizes a 0.74% CTR. These metrics were taken from reelseo.com in 2007, too! I’m guessing the growth in online video is probably followed by a correlating increase in acceptance of direct response video – especially by the information and education seekers.
Plus, you have to think of all of the other benefits of online video with a direct response call to action.
Finally, cost is not nearly as prohibitive as television video production. Some businesses have gotten away with professional online video cost of $300. For $300 and a local ad buy, I would be more than willing to take the risk. In fact, be on the lookout for the Hand Raiser Marketing online video call to action. What’s that? Probably not the best idea for selling professional services? Well, I guess there go my dreams of creating a jingle and imploring you to come on down to the car lot off of exit 12 just past the Sonic! Home of the guitar playing consultant!
There you have it, the nays are drowned out by the cacophony of yeah’s for direct response online video. What’s next? I haven’t decided yet. Let me enjoy this win for the next 24 hours before I get back to work. Have any case studies of online video successes? Inquiring minds want to know.
Every now and then, we hear at the Hand-Raiser Marketing offices get our dander up about something. Right now, I’m feeling like direct response has gotten a bad rap online. I’m going on a mission to either dispel or prove the theory that brand building isn’t the only type of advertising that is accepted in digital – by the average consumer. I believe this is a bunch of hippie crap but I will dive deep into the archives to see if my postulation is truth or misguided marketry.
Why do we think mobile has taken off so much? Well, because there have been spikes in purchases when direct-response ads are sent to mobile phones. When the proper display ad pops up on the webpage of the browser, clicks, learning and purchases magically appear like marketing rainbows of moments after the storm goodness. Yes, in my humble opinion, direct-response works. I’m not willing to see it mischaracterized by marketing miscreants looking to further the cause of their fluffy rhetoric or offline dinosaur-ness.
Furthermore, I have a beef with the fact that rarely do we (myself included) give the growth of digital (period) to the success of direct-response. Direct-response finds its ultimate mate in digital. The interactivity and engagement that can be coupled with a call to action can be wildly beneficial for brands. In fact, even Media Post released a blog touting that direct-response moves the needle for brands. And in a world where we’re searching for the next innovation to help digital make the huge ad spend leap that should have already happened, why wouldn’t we look to the one thing that businesses love to see…sales increases. Direct-response offers this and in a measurable way in the digital space.
Before I go to do some research, I must mention that the whole point of permission marketing is to get call to action and immediate purchase driving messages to the people that have indicated a willingness to hear that from you. Sure, building communities is great and necessary for long-term value but short term relevancy is derived from the idea that effects are to causes what “oh no she didn’t” statements are to unflattering clothing.
I like to cause things to happen. I’m like a toddler in that way – hit the pot and hear a sound. That is all. I shall return. In the meantime, if you have any research on the subject at hand, feel free to turn it over to the Hand-Raiser team for analysis.
Therran L. Oliphant Email: therran@hand-raiser.com Phone: 313-720-4869 Twitterr: http://www.twitter.com/therran LinkedIn: http://www.linkedin.com/in/therranoliphant We can't wait to … [Read More...]
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