Stay better informed as a marketing professional with this monthly series highlighting the latest developments in all things marketing. Get caught up with the May Marketing News Snapshot.
May 2014 Monthly Marketing News Snapshot
May 28, 2014
Tags: branding, Twitter, mobile, marketing, technology, content, twitterstorm, strategy, customer, tweetchat, digital
Create Your Own Formula for Success
Feb 28, 2014
I grew up in Grinnell, Iowa, a small town in the rural Midwest. It’s not exactly the place you would expect to find the most prolific scoring basketball team in the nation. Grinnell College’s run-and-gun offense is considered unorthodox, even chaotic, but it is fun to watch. Grinnell’s record as of February 22nd is 18 wins and 5 losses. In the second game of this season, senior guard Jack Taylor scored 109 points, the third highest in NCAA history in a 173-123 victory over Crossroads College. According to Head Coach David Arseneault’s book titled “The Running Game: A Formula for Success,” his strategy is based on five basic principles:
The team must take at least 100 shots in a game. The goal is to attempt a shot every 12 seconds and try to get the ball back within 10 seconds.
Tags: branding, marketing, creativity, social media, Customer Acquisition, service, customers, audience, strategy, organizations, relationship-building, loyalty
Discussing the marketing value of branded online communities with some of the area’s top marketers
Tags: branding, Twitter, messaging, credibility, marketing, metrics, social media, mike dover, wikibrands, communities
The Difference between Customer Experience and Customer Relationship (And Why One is Better)
Nov 20, 2013
As the relationship between businesses and customers continues to evolve, the value of the customer experience has been magnified greatly. Customer-facing social media channels and the general ease with which anyone can find information about anyone/anything online have made businesses and their employees and managers more accessible than ever before. This means businesses – the whole business – must be ready to address customer needs across any number of outlets. But good customer experience doesn’t just mean effectively handling complaints, issues or questions; it means having a real relationship with your customers.
Tags: branding, engagement, marketing, social media, customer experience, service
While perusing the Internet for new ideas and to keep myself updated on the latest business happenings, I came across this excellent presentation on marketing localization and thought it had some very interesting statistics that make the case for why you need to localize your marketing efforts. The first number isn’t a huge shock, but does lay the foundation for nearly everything I’m about to say: 97% of consumers do online research before making a local purchase. Translation: If you can’t be found locally and aren’t targeting locally, you aren’t going to beat the competition.
So how are companies making their local presence felt? In short, many aren’t. We all know one of the laws of marketing is to be where your customers are. Yet somehow, the fundamental tenet has slipped many companies’ minds. According to ReachLocal, of marketing organizations surveyed:
Tags: branding, SEO, email marketing, MRM, social media, localized marketing, marketing resource management, direct marketing, paid search
Is it Time to Hire a Social Media Marketing Expert?
Aug 06, 2013
There was breakdown in the assembly line and no one on Henry Ford’s staff could fix it. As the story goes, his production lines were down for hours; hours turned into days, and Ford was frustrated. In desperation he called an electrical engineer friend whom he trusted to come to his plant, diagnose and repair the problem. His friend promptly arrived and after about ten minutes the Ford lines were up and running. A most grateful Henry Ford thanked him and told his friend to invoice the Ford Company for the repairs. A few days later Henry Ford received an invoice from his friend in the amount of $10,000. Flabbergasted, Henry called his friend on the telephone and protested, “You only tinkered around for ten minutes! Ten-thousand dollars?!” His friend agreed that he would re-invoice the repairs. A few days later Henry Ford received a modified invoice:
Tags: branding, facebook, google, Twitter, sales, LinkedIn, Klout, blogging, marketing, marketing strategy, social media, social media strategy
How to Localize Social Media Marketing
Jul 23, 2013
We’ve spent a lot of time on this blog discussing the challenges and benefits of localizing your marketing strategy across both traditional and digital marketing channels, and you’d be hard-pressed to find a marketer that doesn’t see the value in the practice. But there’s one marketing channel where questions about localization remain and answers are hard to come by: social media.
When I was at the Integrated Marketing Week Conference in June, this was a continuing theme and topic of conversation, whether it came up in presentations, questions to speakers or simply conversations among attendees, so it’s clearly an issue of great consternation in the marketing community. That being said, let’s take a look at some possible strategies that can help businesses overcome the challenges of social media localization.
Tags: branding, facebook, Twitter, engagement, LinkedIn, messaging, marketing, social media, localized marketing, local marketing, customer segmentation, SMB, integrated marketing week conference, content, strategy
A Look into Seth Godin’s ‘Connection Economy’
Jul 16, 2013
We are in an age of "permission marketing." This was the topic I had the pleasure to hear Seth Godin speak about at the Integrated Marketing Week Conference last month. One of his main points: All media is optional. If people don’t want to talk to you or listen to you, they don't have to. We're past the time when marketers can just cram messages down people's throats. Everyone skips the commercials on DVR. In the subject line of an email, you essentially are asking them to open your email. In the opt-in form on your website, you have to ask them to sign up for your newsletter. You can’t just say attack the audience with your product; you have to build a connection first.
The Connection Economy
This significantly reduces the value of the mass market, according to Godin. The real value for your marketing dollar is on the edges – the places where specialized info will be most valued. The edge is more receptive to specific messaging. Think politics and religion if you want more vivid examples – the edge craves content on their subject and consumes it at much deeper and higher rates because there’s more passion there. That's where you’re making your connection, and that’s what drives Godin’s notion that we are living in a "Connection Economy."
Tags: branding, content strategy, messaging, B2B, content marketing, marketing technology, marketing resource management, connection economy, seth godin
How to Get the Most Out of Distributed Sales
Jun 18, 2013
Distributors can be a valuable asset to a corporation, if the organization uses them correctly. Let’s take a look at some of the challenges of driving sales through distributors and what the manufacturer/vendor can do to overcome those barriers.
Challenges
One of the primary roadblocks to improved distributor sales is motivation. This can be especially true with smaller distributors. Often times they are comfortable with their current sales levels and are not interested in really growing their business. The manufacturer also bears some responsibility for making the information needed to sell effectively accessible and convenient. For example, not having a single point of contact is a hassle that will cause many distributors to disengage.
Tags: branding, co-op marketing, sales, distributors, marketing, distributed sales, incentive programs, MRM, marketing resource management
Personal Clout vs. Company Clout: Our People Are Our Most Important Source of Influence
Jun 11, 2013
Somewhere in America, a business leader is standing in front of an audience prepared to use the phrase, “Our most important asset is our people.” Do you think they really mean it? What about other key assets, for example:
1. Real estate
2. Rights to natural resources like oil and gas
3. Cash reserves
4. Patents
5. The corporate brand
Tags: branding, facebook, Twitter, trust, credibility, Klout, social influence, marketing, Kred, corporate branding, personal branding, social media
