Monday, December 14, 2009

Emotional Marketing Messaging vs. Facts Based Rational Messaging

I was just re-reading an Article from earlier this year in Advertising Age that talked about why emotional marketing messages beat the rational ones. They looked at 880 case studies, covering two recessions to see if there was any difference between the "good and bad times". What was determined was emotional advertising was twice as likely to generate profit gains than the rational ones, with the campaigns that use both, splitting the difference right in between.

The biggest difference was the emotional marketing reduced price sensitivity, which helped companies to be able to hold more firm on their pricing (with a better economy, it would allow you to probably charge a premium). Emotional advertising allows one to create a sense of differentiation for your brand and helps it appear to be worth "more" to the customer. However, a person that would respond to more data driven advertising or rational messaging, is typically more analytical so it is expected that they are more price sensitive because they would be one that "does their homework" first.

Balancing this in the Internet age takes some effort because of how Facebook, Twitter, Blogs, Websites, and everything can spread more quickly - especially through industry trade channels. If you combine that with the fact that 80%+ people research what they want to buy online (especially if it is not a standard consumable good) then you have to make sure your message reaches across all mediums.

If you ask most business owners, "Would you like to be able to keep 1% more through your price or increase your volume 1%?", holding that price would be more to the bottom line that the equivalent increase in sales volume. Your marketing needs to help you achieve that.

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Wednesday, November 18, 2009

Have you locked up your Brand Identity for Social Media?

There are several sites out there that people use for sharing information and more social media aspects that you should consider registering your name. Even if you don't plan to use Facebook or Twitter, we would advise you at least lock up your name so someone else cannot steal it - which is known as "squatting". Besides, just because you don't plan to use either of them does not mean there isn't the next hottest one around the corner that you should lock up.

This happened with domain names in the mid 90's as websites were coming into popularity. Several Fortune 500 companies ended up in court trying to get their trademarked names back. There has not been any precedence set for Social Media and if and how companies can get control of their Brand once it has been registered by someone else who is not them. As reference, here is an article from Adage that shows you some of the big Brands that don't own their Twitter identity.

You can see if anyone has squatted you out and potentially avoid that by visiting UserNameCheck.com . There are 68 different sites that someone could "squat" you on. Some of them you have never heard of, several are familiar and you can find all the different sites people could squat your identity on. You never know what might be the next big fad or emerge so it is best to lock them up and as new "fads" come out, register those as well, even if you don't ever use them - you can at least know you are protecting your Brand when it comes to Internet & Web Marketing and Social Media.

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Tuesday, November 10, 2009

Google buys Mobile Ad Leader AdMob

Marketing to Mobile Devices is here to stay and only going to increase. With the new droids and Blackberry Storm2 and the iPhone, this is only going to be more prevalent and more people move to these data savvy phones. These devices also require you to get a data plan so they are always connected to the Internet as long as they are in a service area - no "hot spot" needed.

Google has deep enough pockets to keep anyone at bay. The interesting part of this deal is it was an all stock transaction - but $750 MILLION worth of stock. The interesting part of this is their sales are $40 and most experts think ad networks should be worth 6 times sales - or in this case $240 million. They received TRIPLE that figure - will it pay off? I think so.

If you are in a consumer oriented market, you need to begin to think about this as part of your media mix. In a lot of ways this will be BIGGER than the social media craze...certainly more valuable and measurable than that.

For a good article about this acquisition of AdMob by Google, visit this Adage Article

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Tuesday, August 18, 2009

Social Media Optimization: Business Marketing Mix

Social media optimization is a set of methods for generating publicity & conversations through social media and online communities. Social media optimization is related to search engine marketing, but differs in several ways, primarily the focus on driving traffic from sources other than search engines, though improved search ranking is also a benefit. Search Engines also "love" this type of content because it is updated often, and seen as new and fresh.

A social media campaign means developing a great message and then reaching out to people, while giving them an incentive/reason to pass it on to other people. Social media optimization is a kind of viral marketing, where word of mouth is created through the businesses and people connecting and having 2-way conversations online.

For Business Social Media to work well, you need constant updates and make them interesting!! Also, you need fans who care enough about your message to pass it on to their friends. This is how something (good or bad) can get spread extremely quickly. If people like something and find it useful, they will link to it and tell their friends. Like anything else online - understanding the motivations and culture of the audience is key to making social media work.

Social media software applications include:

Social media should be in your marketing mix, but it needs to be done right! Make it work for your specific target audience. Develop a great message and reach out to people...then hope they pass it on! Social Media is about connections, so make it a 2-way conversation.

Please contact Bevelwise if you would like to add Social Media to your company's marketing mix and need some help.

Many other sources have assembled lists of social media sites. Relevant Social Media helpful spots:
http://en.wikipedia.org/wiki/Social_media
http://www.prelovac.com/vladimir/top-list-of-social-media-sites
http://nextmark.typepad.com/blog/2009/07/top-100-b2b-social-media-cheat-sheet.html
http://www.chrisbrogan.com/my-best-advice-about-social-media/
http://www.mintblogger.com/2008/02/definitive-list-of-30-popular-social.html





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Thursday, July 30, 2009

Should I put my marketing dollars into Search Engine Optimization (SEO), Pay-Per-Click (PPC) Advertising, or a blended online media strategy?

How do you know if you should use Search Engine Optimization (SEO)? Can I get better results from Pay-Per-Click (PPC)? These are the main two strategies in use today, especially for the small to medium enterprise. Both strategies are entirely different and it can be difficult to decide which one is best for you or how to combine both strategies for maximum effectiveness.

You have to determine what you are trying to accomplish via the web and your website. That will drive everything else. If you don't have the right objectives for what you want to accomplish, then you can wind up wasting a lot of money trying to figure it out and feeling like all you did was "spin your wheels". SEO and PPC are the best sources to drive you targeted traffic and only pay for targeted traffic, but you have to be intentional about them and what you expect from each.

SEO and PPC continue to grow as more and more people are using the Internet and become more web savvy. It is the best source for people worldwide to find information they want on a 24 hour basis. That will keep these two industries growing. Let's back up a second and define these a bit closer for some of those people who might know much about these subjects. SEO takes place on your own website site. There are pieces and parts to a website that the Internet search engines, crawlers, and indexes look for to determine if your site is a good match for particular keywords and search terms. Most experts will tell you that parity has been reached in search, so now it comes down to the user experience and how fast a search engine gets you to the results and relevant content you were looking for.

PPC refers to advertising on a search engine that charges on a per click basis whenever a visitor clicks on one of your ads. The order of ads is an algorithm and Google (62% of all searches), Yahoo (20% of all searches), and Bing (formerly MSN and 10% of all searches) all use different ones to determine the best match. This will continue to change now that Yahoo and MSN/Bing have announced their partnership for search - so we are sure a new algorithm for these sites will emerge soon and cause another adjustment. The newest factor in the game for Google is what is known as quality score. It has always used this to rank your site and pages organically, but now it is a factor in how well your PPC campaign will perform. Yes, how well your landing page and it's URL are optimized will effect what you pay per click, who shows up on the top of the list, and if you bid the most, you are not guaranteed the #1 spot. This is directly related to that "user experience" criteria.

SEO tries to change your overall search engine ranking by looking at your URL and analyzing all of the content on your pages and meta data (behind the scenes) to see how good of a match that page and your website is for a particular keyword or search phrase. This also needs to happen page by page - having the same information on every page or in every page's meta data, will actually discount your URL to the search engines. It needs to be specific to what they will find on that page. Also, putting too many different items on a page will not allow you to optimize it to its full extent to produce maximum results. It will also not allow you to effectively optimize for each item because what you can do and the "space" available for optimization, do not allow for the words and phrases you need (for example, a title tag really needs to be less that 70 characters in length). SEO is also considered a long term solution. You cannot do it just once and let it go for 6-12 months. You should pay some attention to it monthly after your initial optimization takes hold (like 120 days after their first pass on your site). Consider this just like changing some of the content on your website, this will help the engines pay attention to you. Ultimately you would want your optimization to allow for you to not have to pay for clicks on your brand name and your top 5-10 keywords and phrases because you already have page one ranking for them. Be prepared for this to take 120-180 days to really start to show some results but that is based on where your starting point is.

Bottom Line of what you can expect

PPC:
  • Instant Traffic and results if it is done right
  • Pay for what you get - no residual effects
  • This is extremely intentional - to an industry, geographic market, product or service
  • Optimize for performance, negative keywords, etc
  • Can pause at any time so little risk
  • Typically done with lower budgets
  • Can control what it says, when and where it runs and to what audiences
  • Is now tied to how well your landing page and website are optimized with Quality Score
  • Once you reach your daily budget it shuts down
  • Easier to target a specific market or industry
SEO:
  • This is a marathon, not a sprint solution
  • If you are optimized, you will always rank for the keywords and phrases you want - it will never shut down or reach a budget
  • Results are harder to measure - because of all the ways to drive traffic
  • Need to set metrics and goals prior to starting it
  • Start with an amount to get started and have someone spend some time monthly continuing these principles if possible
  • Will need to update and change as strategies and search engines change their algorithms and competitors change their websites, PPC and SEO strategies
  • Allows you to rank for higher priority keywords and broaden your exposure through PPC
  • Delivers the most qualified traffic – this comes from people who are actively seeking out products and services that you offer and not just browsing the web.
So what should you choose?
Well, it depends on how much money you are willing to spend, what your time line is, your goals and how you want to measure results. It is easy to blow through money with PPC unless you test, optimize and pay some attention every month. Typically it will produce results in the first 30 days but you will always have to pay for them. If you want to position yourself for long term results and establish your presence to your target audience and market, then spending some time in SEO will help be your solution. SEO is more permanent depending on your strategy and will build long term equity for your website, PPC will drive results and help you be specific to a particular industry, geography, or time period. If someone finds you through organic/natural results, you typically have more credibility because that is harder to accomplish and anyone can "pay" for advertising. If you can do it, we would recommend balancing both of them. Set your goals and then allocate X hours a month optimizing your site and equivalent dollars to PPC, but always be evolving and optimizing.

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Thursday, July 23, 2009

Using Twitter in your Marketing Mix for Businesses

Twitter is a good idea for your business if you believe in Social Media as a way for humans to connect and engage in conversation. Twitter can bring great minds together, and gives you daily opportunities to learn and grow as a company. Twitter is like blogging except you only have 140 short characters to communicate your message. It is like instant messaging except it is public and can attract traffic to your website. A Tweet is not directed to just one person because it is visible to anyone.


Twitter is a way to drive real traffic to your site. The way to use it is to build a network of "followers" and people/companies you are "following." Following people shows that you are not just talking about yourself but also listening to what your potential customers and industry leaders are saying. By interacting with others you are giving people reason to listen to you as well. Think of Twitter as an intercom, not a megaphone.


When setting up your company's Twitter profile, create your company image that lets your brand stand out. Put up a picture... make it your company logo. Make sure you fill out your profile bio/info. This authenticates your Twitter profile.


Follow your brand and industry in Twitter conversations. Use Twitter Search to look for conversations about topics that are of interest to your company. Look for conversations about your brand, competitors, and words about your industry. This is a great way to build and improve your network. Engage with your potential customers. Try talking about their interest too, not just yourself... you need to show that you are a human. If you are going to bother Tweeting, it means that you want humans to connect.


When sharing content, it is very important to only share information that is useful/fun/interesting. Otherwise, you might sound like you are "preaching" a sales pitch about your company or products to people and they might tune you out. Twitter is not a one-way conversation.

Share content that spreads rapidly such as:
  • New Content/data
  • Links to cool/relevant sites
  • Industry articles
  • Interesting blog posts
  • Videos (funny ones get spread the most)
  • Slides and presentations
  • News releases
  • Podcasts
Information that rarely gets shared:
  • Product info
  • Free trials

After you have wrote some "tweets," added profiles to follow, and gained followers, you can check out how your profile ranks. Here is a cool free tool to grade your Twitter account: www.twitter.grader.com.


Tips to make Tweeting easier:
  • Use tools like "TwitterFox," "TweetDeck," or "Twhirl" to make managing Twitter easier and faster
  • Use services like Twitter Search to make sure you see if someone's talking about your company. Try to participate where it makes sense.
  • Use tools like TinyURL http://www.tiny.cc/ or http://bit.ly/ to shorten long URLs (because you only get 140 characters)


Twitter can be a great way to attract customers, network, and interact with your current customers, but you have to understand the Twitter culture or you could actually turn these people away. Time to Tweet! Feel free to contact us at Bevelwise if you have questions or need some help.



References:

http://www.hubspot.com/marketing-webinars
http://www.chrisbrogan.com/50-ideas-on-using-twitter-for-business/
http://mashable.com/2009/01/21/best-twitter-brands/

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Tuesday, May 5, 2009

Advertising of the future is interactive and location sensitive

Dockers has an interactive ad which displays while an iPhone game (or possibly other apps) is loading. The ad, called "Shake down to Get Down", asks the person to shake the phone in order to make the person on the screen dance. The screen focuses on the dancers shoes which of course are Dockers.



This serves as an increasing trend for organizations wanting people to interact with and be entertained by their brand. One of the first examples I can think of this new type of advertising is Burger King's subservient chicken which launched in 2004. What makes the Dockers ad unique is how it is embedded as a part of another application and it is mobile.

The ad was built specifically for the iPhone which offer much more functionality than TV, paper, radio or websites. One of the more exciting features of using a mobile platform is location based ads.

Imagine this scenario: you are shopping in a store and you scan/take a picture of a bar code to lookup the price of the item on amazon.com to see if the price you are looking at in the store really is a good deal (available now with the iPhone and Google's Adroid phones). Soon there after, you might receive a text message informing you that the store down the road has the same item for 10% less then prompts you for turn-by-turn directions on how to get to that store. I would expect to see this scenario take place very soon.

Other new opportunities are available with location and motion based ads such as...

  • A electronics company could display a new rebate enticing users to scan a barcode at a nearby store, then give you directions to that store.

  • A cruise line could offer deals for users in Miami and New Orleans due to proximity to their ships.

  • A soda company may create an interactive bottle of pop that is motion sensitive. The user can shake up the bottle and it splashes all over the screen.

  • A car rental company can determine that a user is outside their typical geography and serve an ad for extra insurance or a CPA ad for a discounted rate.


This is just the beginning as newer technologies become available that we carry around in our pockets. I can think of the new summer baseball movie may offer discounted ticket if you can swing your phone faster than 45 MPH (measured by an accelerometer like what is currently in the iPhone). Then after you try, show the next available show times of the movie for the 5 closest theaters near you.

Mobile is the advertising platform of the future as the viewers are more engaged. It is easy to walk out of a room or skip over a TV commercial with a DVR. Most people skip the first 15 pages of a magazine. Mobile offers tracking for easy ROI measurements, unlike print. And most importantly mobile users are not usually doing any thing else - their attention is focused solely on the device. It is coming soon and it will come fast.

via ReadWriteWeb

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Monday, April 13, 2009

ESPN launches local Chicago website

Add ESPN to the list of national news outlets positioning themselves to capitalize on the demise of local newspapers. The "Worldwide Leader in Sports" this week launched ESPNChicago.com, a Web site devoted to the Chicago sports scene. The site will feature a daily Chicago version of "Sportscenter," ESPN's signature sports news show, and contributions from ESPN columnists and radio personalities with ties to the city.

ESPN hopes ESPNChicago.com will be the first of a series of new sites that will deepen its online penetration in local markets, following an increasingly popular approach for major content providers. Having already built a national audience of devotees of a particular topic, some publishers are targeting subgroups linked by geography and civic pride.

The Huffington Post, the left-leaning news site that enjoyed a surge in popularity during the presidential campaign, late last year began rolling out local sites beginning, incidentally, with Chicago. A Huffington Post spokesman said the launch "has gone very well" and several more cities will be added over the next 12 months. The Web site Politico has beefed up its staff recently to cover more local politics and sell it to understaffed newspapers in those cities.

This local or regional expansion is far from a can't-miss strategy, particularly in an advertising recession. McGraw-Hill's BusinessWeek magazine last June ceased publication of "BusinessWeek Chicago" — What is it about Chicago? - less than a year after launch. For ESPN, Chicago makes sense for two key reasons: It's a city of passionate sports fans where the local papers have been crippled by the industry's revenue drain. The Chicago Tribune's owner, Tribune Co., in December filed for bankruptcy protection because of its crushing debt, and the owner of the Chicago Sun-Times has been drastically cutting costs to stem losses and avoid a similar fate.

At least one advertiser is already sold on ESPN's idea. MillerCoors has signed on as the site's charter advertiser.

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Wednesday, January 21, 2009

Google Leads U.S. Search Advertising Market With 76% Market Share

Efficient Frontier today released the findings of its quarterly analysis of U.S. paid search activity. The report was based on an analysis of 92 billion impressions and 600 million clicks across a portion of Efficient Frontier customers during the fourth quarter of 2008, which includes some of the world’s largest brands. According to the report, Google has maintained its hold on the search advertising market with 76 percent market share, and Yahoo continued to increase its presence, gaining 3 percent market share year-over-year.

Despite the economic downturn and reports of the erosion of other marketing channels in 2008, the index of Efficient Frontier customers included in the Q4 report saw a minimal 8 percent decrease year-over-year, while the retail sector saw a 9 percent uptick in spending year-over-year, an indication of the strength of the search marketing channel.

Additional search engine marketing trends

  • Small advertisers in the U.S. accounted for a greater decrease in search advertising spend than larger, more established brands
  • Overall impressions for search engines are down 6 percent year-over-year
  • Overall click-through-rates (CTRs) in search were relatively flat year-over-year, gaining only 2 percent
  • Overall search cost-per-click (CPC) is down 5 percent year-over-year
  • Automotive industry spend declined 15 percent, due primarily to lower impression volume, reflecting weakness in consumer demand.
  • Financial service spend declined 20 percent despite impressions being up by 5 percent reflecting high customer demand for financial services, with but fewer qualified conversions
  • Retail spend increased 9 percent, reflecting the strength of the channel in price comparison and shopping efficiency, particularly for more established online brands
  • Travel and Entertainment spend decreased 24 percent, primarily due to reduced traffic volume, which is down in by 18 percent in the sector year-over-year

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