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    Entries in Marketing (6)

    Tuesday
    Dec012009

    Taking “Markit” to Market: Developing an Identity.

    About a year ago I started investing in the stock market with a friend of mine, James, whom I have known since kindergarten. It’s often said that the earlier one learns how to effectively manage money, the better it will be for his or her financial health in the future. I currently attend a military institution, and as such virtually everything from room and board to three square meals a day is provided for me, thereby giving me an excellent opportunity to learn about investing while incurring zero risk to the stability of my lifestyle.

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    Tuesday
    Oct062009

    Everything I know about marketing, I learned from cake decorating.

    Taking a cake decorating class is something I’ve wanted to do since college, but just recently made the time to do. As I decorated my final cake and finished my second class, I discovered there are many parallels between cake decorating and marketing. I am willing to bet that if you look close enough, these same parallels apply to almost any job that requires both precision and creativity.

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    Thursday
    Jul092009

    The Many Faces of Feedback.

    You love it. You hate it. You can’t live without it.

    For marketers and PR experts, feedback has always been an animal you approach with equal amounts of awe and respect. After all, the will of the people has flooded the phone lines of many a company and derailed the well-laid plans of marketers with sure-thing products.

    And that was before the consumer could give you the old Caesar thumbs up or down with a few taps on their keyboard or mobile.

    Today, your target audience has the expectation that they can tweet, yelp, update their status, blog/vlog their opinions to everyone listening, and critique your brand on any number of specialty sites. It’s instant and out there for everyone to see. Which means you need to be out there looking and participating.

    The only question is: How are you going to handle the many faces of feedback that you’ll encounter?

     Pop Culture Reference: The Groupies from Almost Famous

    They love you. They think everything you do is art. Frankly, they just want to be in the same room partying with you.

    These are your brand loyalists of the highest order. Every brand has them. Good thing too – you’ll need them.

    Now is it just a crush or hero worship? Are you really worthy of the pedestal they’ve plopped you on?

    Who knows? The important thing is that they are there for you – so make use of them. Treat them like the in-crowd, as they will reward that recognition a hundred times over.

    Pop Culture Reference: Benny Blanco from Carlito’s Way

    Sometime long ago, they were fan enough to test your brand. They may have even belonged in the category above.

    Then something happened – a slight or accidental indifference. Whether you did something or not, they felt wronged. Now, the whole world is going to hear about the injustice.

    Unless you’ve somehow found a magical incantation for keeping everyone happy all the time, this will be a challenge your brand should be prepared to meet. Frankly, it’s also an opportunity.

    Push comes to shove, this person wants to like you. So make sure that you let them know that (A) they are being heard and (B) their opinion will influence the future of the product. Don’t make promises you can’t keep or feed them a line.

    Instead, be honest and transparent. It’s the surest route back to the love fest you once enjoyed.

    Pop Culture Reference: That cockadoodie-crazy Misery lady.

    This person’s relationship with your brand is … complex.

    Maybe they were spurned and didn’t get the response they felt was deserved. Or perhaps they’re just living in an isolated cabin somewhere and don’t have very much human interaction at all.

    Either way, they have some pretty bad and sometimes R-rated things to say. You just have to decide the level of seriousness it warrants.

    Some might claim that the level of their negativity comes from feeling a bit more removed and anonymous online. Personally, I think that’s a copout. You may get a visceral, gut reaction from them. But underneath the jabs and F-bombs, there may be a legitimate point.

    So sift through the rubble and see if there is anything left to salvage.

    Any of these faces look familiar to you? Take a moment to share your tales of social media glory or agony in the comments below.

    Wednesday
    Jul012009

    Don’t just read about our Moms research. Hear about it too. 

    Why should marketers pay attention to how Moms have refocused their spending on family and self in this economy? To start, they represent over $2 trillion to U.S. brands and influence 85% of all purchasing decisions. However influential they are, over 60% say they feel ignored by marketers. So how can that be?

    Check our EBL’s recent interview on financial news radio station KFNN-1510 with Isabelle Jazo, V.P. Brand Strategy, for insights on how to position your brand for Mom relevancy during these unprecedented times.


    Friday
    Jun192009

    Mom Knows Best.

    There is certainly something instinctively true about the old adage: Mom knows best.

    Moms learn to follow their intuition and their hearts when it comes to raising their families and running their households. With a little time and experience, their gut reactions tend to be the right ones – especially when it comes to household finances.

    As Chief Household Officers, their influence is felt in the home, at the cash registers and online. Women make 85% of all brand-purchasing decisions and wield $2 trillion dollars in brand spending. Moms represent nearly 20% of the online population, and Moms between the ages of 40-50 are part of the fastest growing segment of users on Facebook.

    So why are Moms among the most active online users? They seek out and provide their expertise via social media to satiate some very basic needs:

     

    1. Moms need to connect with other women. It satisfies their social self, which is a fueled by female relationships.
    2. She has something to say. Have you met a mom that didn’t?
    3. She wants to be heard. Who doesn’t?

     

    It’s pretty clear how and why mommy blogging now plays an integral part in the marketing strategies for such brands as Wal-Mart and P&G. Nielsen Online has even attributed a moniker to these active and influential mommy bloggers and social media mavens – Power Moms.

    The opportunities can be endless if marketers will employ a very basic strategy in the quest to ingratiate Moms to their brands:

    Listen, listen, then listen some more.

    In a recent study by the Marketing to Moms Coalition, 60% of moms surveyed felt marketers were ignoring their needs, and 73% felt that advertisers didn’t understand what it was like to be a mom. This disheartening reality was the impetus behind a recent and timely report just completed by E.B. Lane, entitled Middle-Class Moms and The Recession.

    Within this study, EBL identifies pivotal shifts in moms’ values – leading indicators for future behavior and brand selection. EBL took the time to listen to moms in Braintree, MA, and Denver, CO, over the course of 5 weeks, summarizing these findings in a white paper available for your download. [http://tinyurl.com/mrg6sf]

    Enjoy, read and listen. And while you’re at it, please share your thoughts.

    Tuesday
    Jun092009

    Rethinking Marketing in a Down Market.

    Clearly, these are difficult times for any marketer. Customers are spending less, replacing less frequently, and substituting goods and services. Many companies are cutting marketing budgets and reducing expenses everywhere they can.

    But for the savvy marketer, this is also a great time to take advantage of current market conditions and refine your marketing approach. Here are a few principles that can help:

     Focus

    • Stay focused on profitable markets, products and customers – and cut those that are not.
    • Focus on marketing programs that show positive ROI in terms of sales or leads – and drop those that don’t.
    • Focus on “urgent branding” messages – those designed to drive sales today while enhance your brand image for the longer term.

    Enhance

    • Enhance your website by improving your organic and paid search positioning. Put a call to action on every page of your site. Post keyword-rich articles, reports and case studies on your site.
    • Enhance your web footprint by creating pages on other sites like YouTube, Facebook, and Flicker that link back to your site. Participate routinely in blogs and discussion forums relevant to your category or to your customers.

    Increase

    • Increase media spending in highly targeted traditional and online media. There are significant bonus-based media opportunities in all media vehicles today. Your competition is cutting back – so you need to be more aggressive.
    • Increase your use of online collateral versus printed materials. Save a tree and provide more instant gratification to your customers.

    Resist

    • Above all, resist the temptation to cut prices as a sales strategy. Instead, concentrate on adding real perceived value to your products or services.

    These methods have been successful for some. But what’s worked for you? Share your thoughts in the comments, below.