Why perfecting the retail marketing mix is important
Contemporary retail marketing is a brave new world. While some basic principles remain when it comes to implementing effective retail marketing strategies, others have evolved to acknowledge and appeal to the new breed of consumer. Does your business have what it takes to succeed in today’s dynamic landscape? Let’s take a closer look at three critical components of the 21st century retail marketing mix. 1. It’s not you, it’s them And by “them,” we mean your customers. While the retail marketing mix involves a number of elements — those trusty, oft-cited “six P’s.” People, product, price, place, promotion and performance should all be focused in one clear direction: your customers. It goes without saying that your customers are your business’ most important constituents, but a shocking number of retail enterprises fail to put them front and center when it comes to developing and implementing retail strategies. Here’s the cold hard truth: the more customer-focused you can make your retail business, the more success you can expect to achieve. Lucky for us, we have more access than ever toward understanding our customers. From tracking in-store footfalls to online conversation rates, the ability to known and learn from customer behavior yields actionable insights into their wants and needs so you can stop wasting your resources on what doesn’t work and instead focus on results. We’re living in an era of “YOU-tility,” and retail organizations are not exempt when it comes to satisfying the contemporary consumer. One common goal shared by today’s successful retail enterprises? To add value across all of the P’s. This can mean anything from implementing point of sale solutions for on-the-go customers to targeting promotions to reach a particular demographic via their preferred means of communication, all without bothering the rest with irrelevant promotional materials. 2. Consistency is key We can all agree that a retail organization which only emphasizes sales is destined to fail. Why? Because retail success also relies upon providing extraordinary customer service every step of the way. Want to gain an inside edge on the competition? Don’t settle for delivering what your customers expect. Instead, strive to exceed their expectations. After all, the ultimate goal is not to make a single sale, but to develop lasting customer loyalty, along with the potential for a lifetime of sales. Because consumer shopping habits have changed, so must your marketing efforts. This means incorporating a complete range of omnichannel marketing methods in order to leverage technology into sales. To maximize your efforts and ensure that your message reaches your target audience in the most meaningful way, your business needs a compelling online and offline presence. Today’s consumers expect the businesses they support to be transparent, accountable and responsive. While these may sound like trendy buzzwords, they’re a very real part of any successful retail marketing mix. This means every communication you send — whether in-store or via digital methods — is aimed at reinforcing your brand sensibility across all touch points. And don’t forget about email. While most people think social media and apps have overtaken email as the ideal means of communicating with consumers, email is still an important way to cultivate and engage consumers. In fact, a recent Inc. article decreed email marketing to be “vital for businesses of all sizes,” for a variety of reasons including its low cost, mobile reach, and impact upon both online and in-store sales. Consistency also means establishing expectations for your staff and reinforcing these expectations so that organization-wide operations are coordinated, streamlined, and cohesive. Every team member should be working toward the common goal of satisfying customers through a well-communicated strategic plan. 3. A new kind of location, location, location The traditional marketing mix has always emphasized location. After all, you’re not going to make any sales if access to your storefront is limited by a poor, inconvenient or incongruent location in terms of your brand and target consumers. And while your physical storefront remains an important concern today, it’s far from the only concern. Why? Because not only are today’s customers more mobile in terms of where they shop, but they also have access to endless e-commerce options. Shopping is no longer about geography. In fact, today’s consumers can get nearly everything they need without stepping foot inside a brick-and-mortar location. In order to keep up with the evolving retail mix, your e-commerce site is as important as your physical storefront when attracting paying customers. Forrester Research’s report, U.S. Cross-Channel Retail Forecast, 2012-2017, predicts that by the year 2017, 60 percent of the country’s total retail sales will involve the web, and a full 10.3 percent will be online purchases. Unless you’re willing to forgo your 10 percent, creating an inviting, accessible, compelling and brand-centric new “location” — ie. your online storefront — is a must-do. While finding the correct retail marketing mix takes some time and effort, it can serve as the difference between standing out from your competition and blending in with the rest. Keeping these three things in mind can help you maximize your retail marketing mix efforts in order to enjoy optimal results across your business, brand, and bottom line. Are you a retailer in search of ways to set your brand apart in a bustling industry? Contact our team of strategists to schedule time to “talk shop” with us today!
How to spend your Q3 and Q4 retail marketing dollars
Whether making a last minute push to meet year-end numbers or simply subscribing to the reality of “use it or lose it,” most retailers pick up the pace when it comes to their Q3 and Q4 marketing methods. Wondering how to aim for and achieve the best possible results? Consider these seven proven ways to maximize your retail marketing allocations. 1. Better your blog Unfortunately, many retail business blogs miss the mark when it comes to achieving their full potential. Why? Because they exist out of a sense of obligation, as opposed to as an extension of a company’s overall business strategy. Blogs are cost-efficient, highly effective marketing tools….unless they’re left to languish, in which case they offer value to neither you nor your consumers. Conversely, a well-executed blog can help you build engagement and foster consumer loyalty while also enhancing SEO rankings and search results. Stop thinking of your blog as your website’s “ugly stepsister,” and start thinking of it as more of a fairy godmother of sorts — with the magical potential to generate sales leads. 2. Look harder at search engine marketing Odds are, you promote your website via Search Engine Marketing (SEM) throughout the year. However, did you know that Q3 and Q4 offer the enhanced opportunity to take a closer look at your conversion rates? Are your average costs per lead and conversions meeting your expectations? If not, consider where your efforts may be failing. For many organizations, the critical element is poorly-designed landing pages which fail to generate search marketing ROI. After all, different campaigns have varying search optimization parameters. Taking the time to customize each campaign can yield powerful results right when you need them. Also, keep in mind that while starting new campaigns may not yield realizable ROI by year’s end, maximizing your existing processes and programs has the potential to improve outcomes. 3. Focus on Facebook While social media in general presents valuable opportunities for marketers, Facebook takes second place only to Google when it comes to worldwide net digital ad revenues. When was the last time you evaluated your Facebook advertising approach? Whether you’re looking to cast a wider net or increase sales, Facebook offers a captive audience to savvy advertisers. Not only that, but Facebook’s robust analytics allow you to target your audience, choose from different ad formats, and understand your results through reporting, tracking and measuring capabilities. If your marketing efforts are going awry, these metrics can help you take swift, corrective actions. 4. Go for growth While dwindling resources may compel you to trim expenses, it’s also important to keep an eye on the prize: building value. This doesn’t necessarily mean cutting costs, but instead amping up accountability. Execution-driven strategies position you to demonstrate the effectiveness of your retail marketing campaigns, and information management is a critical part of the process. Today’s retail marketers have access to more actionable data than ever before. Demonstrable results are not only essential to assessing ROI, but also to making any last minute adjustments to move forward in the most productive way during retail’s busiest season. 5. Optimize email efforts On that note, heading into the holiday season, it’s particularly important to deliver content to consumers via the most appealing and accessible means. While social media gets the lion’s share of attention, email remains a preference for many in your target market. But not just any emails. From delivering coupon codes to informing recipients about upcoming in-store and online flash sales, emails can drive both traffic and conversions. And don’t forget about the importance of mobile. Responsive, aesthetically pleasing email messages can also further optimize Q3 and Q4 outcomes. 6. Count on content The typical 21st century consumer doesn’t want a hard sell; he/she wants value. As consumers prepare to open their pocketbooks during the season of giving, give them a gift of your own: meaningful content that either answers a question or enriches their lives in some essential way. Content should be consistent, relevant, unique, and focused on making the entire shopping process more accessible and user-friendly. When designing your content strategies during Q3 and Q4, keep in mind that the best content is not about completing a sale, but about telling a story that engages consumers and bolsters your brand. 7. Cultivate the consumer experience We can agree by now that contemporary customers are all about value over hype. With consumer confidence harder to come by than ever before, retail marketers can position themselves for success by earmarking Q3 and Q4 funds for enhancing efforts to understand what motivates their customers and deliver on these insights. Don’t overlook the power of omni-channel marketing. Relevant real-time content delivered via a consumer’s preferred mode of communication has the potential to increase both sales and consumer engagement. Finally, Q3 and Q4 also offer an ideal opportunity to nurture your leads. Are you doing everything you can do — in the most direct, targeted way — to get better ROI out of your lead generation? As the calendar year draws to a close, retail marketers are greeted with unprecedented opportunities to put their end-of-year retail marketing dollars to optimal use. These seven techniques are sure to help you focus your marketing efforts where they’re least likely to overdraw your resources — and most likely to generate ROI. Our team of retail marketing experts understands the challenges of doing more with less – and we’re poised to assist you in doing just that! Contact us today to schedule a consultation!
Differentiation and retail consumer packaged goods design
With great packaging, comes great power. We may have butchered the Spiderman quote just a bit, however when referring to retail consumer packaged goods design, these truly are wise words for a brand to live by. When analyzing consumer behavior, and contemplating the all-important psychology behind a buying decision, it might seem relatively obvious, but prospective consumers will tend to notice a product’s packaging first; and arguably, a product’s packaging is just as important as the product itself. I can’t tell you the number of times that I’ve willingly skipped over, or perhaps even overlooked, a potentially great product, simply because the packaging seemed inefficient, cluttered, or just didn’t catch my eye. As the old adage goes, we shouldn’t judge a book by its cover – but if it saves me money, and prevents the opportunity for me to unknowingly taking home an inferior product, I’ll likely stick to my gut, and the lasting first impression of a brand as it’s been initially instilled in my brain. And did I mention that if delivered in a manner that is enticing enough to match-up with a product’s perceived value, it’s hard to resist temptation? Many retailers are well aware of this game – and have it completed mastered – although some have taken heed of how to maximize the effectiveness of retail consumer packaged goods design concepts and strategies. Keeping this type of compelling design in mind, nearly every aspect of a brand’s packaging must be determined by the brand’s overall identity. The game-changers in the field of retail consumer packaged goods design are those who know how to sufficiently intertwine the presentation of how the package and product should appear to the eligible consumer. Think about this example from Silicon Valley: Apple has practically made unboxing a new iPhone an art form, likely because of the sleek, minimalistic packaging – no pesky plastic to break apart or cardboard to cut – and this is reflective of the iPhone’s sleek design and uncomplicated interface. It’s just so much fun opening that clean, white box with the expectation of what awaits. While it may not be your first iPhone, the attention to detail and extent to which the package becomes a part of the buyer’s brand experience is undeniable. And while enjoying the sheer bliss of unwrapping my iPhone 6 Plus earlier this year, I couldn’t help but ponder the fact that I’ve been a long-time customer of the Apple brand, and the experience – as matched appropriately with the functionality and capabilities of the mobile device – keep me coming back for a newer model year-over-year. While possessing some degree of retail consumer packaged goods design differentiation undoubtedly has its benefits, attaining the iconic status in packaging that retailers Apple and Tiffany & Co. have mastered, and as mentioned in our previous blog, doesn’t happen simply by chance. [quote]Achieving such branding perfection begins in large part with the presence of strong brand identity, a dose or two of creativity – and immense knowledge of your ideal consumers’ expectations. (And capitalizing on those expectations.) At BIGEYE, we’ve compiled three key tips to consider when developing your own captivating retail consumer packaged goods design concepts, in an effort to ensure that each has the potential to resonate with your target audience on an iconic level: 1. Know your audience. What issues does your ideal client complain about most when it comes your product type? What aspects do they praise? When seeking to create sleek, beautiful, or practical packaging, the responses to these simple questions are a thought-provoking launching point. For example, it’s absolutely crucial for make-up companies, to listen to women’s reviews on products – especially on packaging. Studies prove that women are almost overwhelmingly turned off by the lack of a pump on a foundation bottle, regardless of the product’s quality; while in other instances, women have reportedly – and more often than not – impulsively purchased expensive lipstick simply because the tube was gilded and gorgeous – with an often prominent logo. Listening to what your consumers both need and want from retail consumer packaged goods packaging design can honestly make or break a perfectly great product – even if the vibrant shade of said lipstick is undeniably perfect for the season. Madame Coco Chanel, I’m talkin’ to you. 2. Give experiential packaging a try. While not conceivable for all products, the consumer’s experience with a product’s packaging doesn’t have to come to an abrupt end when the item has been successfully taken out of the box. HBO’s dark-humored drama, Six Feet Under, released a beautifully designed “complete series” box set a few years back that corresponds with the show’s somewhat grim subject. A tad tongue-in-cheek, the top of the boxed set features fake grass and a grave marker, displaying the name of the series and the date it began and ended, while the sides of the box resemble dirt. Taking it one step further, the box containing the series’ DVDs stands at 6 inches tall. Equally creepy and stunning, the smart design correlates with the show itself (and doubles as outstanding Halloween decor). Take a look at how BIGEYE took an established coffee chain, Barnie’s Coffee, and modernized their packaged goods design. 3. Explore the benefits of going green. Research proves that it’s often worth it to ensure that your brand is perceived as “earth-friendly.” Nielsen’s 2015 Global Survey on Corporate Social Responsibility shows that 66% of global online consumers across 60 countries are willing to pay more for products and services from companies that are committed to positive social and environmental impact. What does this mean for your brand? It’s simple: packaging a product in recyclable, reusable, or sustainable container is a consistent reason for consumers to choose your product over a competitor’s. For this reason alone, socially conscious initiatives are not only beneficial to Mother Nature, but might also prove lucrative to your bottom line. And admit it, that’s a real win-win. Truth be told, whether a
Betting on an impulse: Visual retail merchandising
Considering the prevalence (and incredible convenience) of online retail outlets such as Amazon, it’s no surprise that these channels are gaining popularity. In fact, a whopping 81% of shoppers research products online prior to completing a purchase, causing retailers with brick and mortar shops to grow increasingly creative – with even more compelling offers – in an effort to nudge prospective shoppers out of their homes (and their footie pajamas), and actually into stores. As a result, creating emotional and visual intrigue and really connecting with your target demographic has become even more critical to a brand’s marketing strategy – due in large part to the digital shopping cart. This desire to be blown away (and out of those comfy pj’s) by in-store design hasn’t emerged out of nowhere; in fact, it’s part of my biology… and part of yours, too. It’s well documented that as a group, humans tend to make purchasing decisions based largely on this type of emotional connection. We’re actually hard-wired to pursue certain stimuli, and it’s this arousal and consumer intrigue that honestly compels us to spend money, initiating purchases that we often weren’t planning on making. (Those retailers are onto something, aren’t they?) Truth be told, this is why I can’t simply walk past the Brooks Brothers window display without feeling the urge to stop in for a quick gander around the store – only to find myself at the checkout with yet another button down shirt, perfectly starched pair of khakis, or a stylish new sport coat. Furthermore, there really is both an art and a science to creating effective retail visual merchandising displays. On the artistic side, the BIGEYE team encourages our clients to design expressive displays that create a sense of awe and intrigue – driving the target customer to connect with the brand so much so, that they cannot possibly return home empty-handed. However, on the more scientific side, we rely on facts and data to determine what will drive customers into a store, drawing from fields as diverse as neuroscience, anthropology (this time, the study of humans, past and present), and psychology. It seems to harken back to the old advertising industry adage, often quoted by the “original Don Draper” himself, David Ogilvy that, “It’s not creative unless it sells.” Typically, this expression pertains largely to copywriting, but upon further contemplation, we think it especially holds true for retail visual merchandising component, as well. According to a 2014 research report from Merzer, the physical store environment is an important element in retail decision-making, as 75% of purchases are unplanned or made on impulse. How many times have you gone in to Target for “just one thing,” only to end up in a busy checkout lane, complete with a fully loaded shopping cart? This is telling, as is shows us the power of a well-designed store, and to a more concentrated degree, the presentation of the in-store displays themselves. Our goal, then, as marketers, is to enhance this experience, so much so that we’re building the retailer to consumer connection, and ensuring that the correct messaging is being delivered to the desired customer – as component of the overall branding experience. Specifically, when it comes to retail visual marketing, the questions that we specifically want to answer boil down to: Which brand elements are going to generate the greatest degree of interest from our target market? How can we best appeal to a relatively broad demographic that represents our ideal customer? How are we able to develop a display that entices our target demographic to select products proffered by our brand – and to complete a purchase – versus choosing the competitor’s product? What is our audience seeking when selecting specific companies, brands, products, and services – and how do we connect on an emotive level? Which specific marketing elements may we incorporate into our overall strategy to build awareness, and to ensure that our brand is perceived as a differentiator? We all know that with the hustle and bustle of our lives, we find that we’re busier than ever before, and in this digital era, it’s imperative to design a display that will capture a consumer’s attention – and fast. After all, your brand may not only be in heated competition with other brick and mortar retailers, but also with the plethora of online shopping options. Although the online landscape was once presumed to be the end of the storefront, it’s now evident that shoppers want to continue to engage in heightened brand connections through in-store experience shopping. Companies are event able to employ sophisticated marketing techniques to combine their in-store displays with innovative digital campaigns to take advantage of capturing new customers in both stratospheres, developing a perfect media mix. Oftentimes, we hear about retailers who have not yet partnered with a developed marketing team, and as a result, they fail to understand the connection between their in-store displays, and the impact on ROI. As marketing experts, we are armed with the knowledge and experience to tap into the human psyche to drive individuals to make purchases. Not only are we able to provide the necessary expertise to encourage optimization of these displays for success; we are also able to use purchasing information to better analyze the ongoing success of these recommendations. When it is determined that an initial strategy needs further thought and strategy, we’re poised to complete the additional testing required to maximize revenue opportunities – developing insights that inform and enhance a brand’s overall marketing strategy. If your brand is seeking highly effective retail visual merchandising strategies, BIGEYE is well-equipped to partner with you. We’ll ensure that your retail environment is an immersive brand experience that truly connects with your target consumer and drives them to purchase. Contact us today by calling 407.839.8599.
What you should know about Snapchat advertising and teens
I won’t lie: I wasn’t an early adopter of Snapchat when the disappearing-photo app first arrived on the scene. Call me a smidge shallow, but my rationale was always that if I’m going to take the time to capture a picture of my oh-so-perfectly arranged lunch in lighting so undeniably”#nofilter needed” good, then I’d like to at least think that I’ll score a few “likes” out of the deal. But with Snapchat, I find myself a bit perplexed. I mean, what’s with all this “disappearing” photo business? Where’s the recognition for my impressive food photography skills, and how on earth will my glorious meal live on in infamy? Slowly, (and after receiving plenty of Snapchats from friends), I came around to adopt the idea. I figured, what the heck- it’s catching on, so there must be something behind the phenomenon. Stories I’ve heard repeatedly speak to it’s benefits, and I’m not the only one getting in on the Snapchat game. In fact, the app has topped 100 million monthly users. And as large of an audience as that is, you may be surprised to discover that national brands are willing to shell out $750,000 a day (!!) on disappearing ads featured in the “Recent Updates” section. Seriously. Over half a million big ones for ads that only last for 24 hours? That’s mind blowing. …Or is it? [quote] The reasoning behind Snapchat’s high price tag for advertising is that it’s not merely reaching a sizable audience — it just so happens to be the largest audience – made up of the most challenging demographic for advertisers to reach effectively: teens and tweens. [/quote] As young adults move away from Facebook, and toward picture and video-heavy social media formats like Vine and Instagram, Snapchat makes a excellent case for the logic behind a heightened minimum cost per ad. In addition, it’s immediate, and since users are required to click directly on these ads to view them, there are some pretty strong opportunities for engagement. On the other hand, there are no analytics for advertising on Snapchat like we find on Facebook, which understandably leaves plenty of brands a bit leery at the prospect of paying such a high cost without numerical data to effectively back it up. Brands such as McDonald’s are currently reaping the rewards of Snapchat advertising (even without the analytics support), and other companies – such as HBO, Nars, Macy’s, and even the New Orleans Saints – are following suit by using the app. While not all companies have the budget required to shell out a pretty penny per ad, there is always an opportunity to reach the teen audience organically as a low-to-no-cost alternative. This method may not have nearly as much reach, but it does include limited analytics (you have the opportunity to view who has seen your post – although often only during the specified 24 hour time period in which your ad appeared). Personally, I’m not surprised that brands are forking over that kind of dough (pun absolutely intended when thinking back to my photogenic lunch) to advertise on Snapchat. If all the kids are doing it, it’s only a matter of time until companies are following suit. The question now is, “Is it there long-term value?” Looking for some digital know-how, or have questions regarding how to best enhance your brand’s presence via social media advertising? The team of experts at our Florida digital marketing agency stands ready to provide ongoing support and strategic direction – advice we promise will last longer than your most recent Snapchat. Contact us today to start the conversation!
The top three reasons Facebook advertising pays out
To advertise on Facebook, or not to advertise on Facebook…that is the million dollar digital marketing question. It’s a common refrain among small and large businesses alike – even though 1.23 billion people (and counting) are using the popular social media site. With such a massive audience pool to begin with, it’s guaranteed that a good percentage of your target audience will have a presence on Facebook (even if some are not regularly “active”). No matter what, the odds are certainly in your favor here. Still, it makes sense to wonder if spending a pretty penny on Facebook ads is really beneficial at creating engagement between your brand or company and your intended audience. As it turns out, Facebook advertising not only works for businesses, but is one of the most cost-effective means of generating brand awareness and targeting new leads. Here are 3 reasons why Facebook advertising pays dividends: 1. The ability to target specific markets One of the biggest advantages to Facebook marketing is the ability to specifically target your preferred audience. More traditional methods of targeting prospective customers based solely on simple demographics are inefficient compared to using more detailed psychographics to target consumers. With Facebook ads, you’re able to market directly to users – all based on their particular interests, age, gender, or online activity- at once. So if, say, you’re a ladies online clothing retailer, you can not only advertise to a specific gender, but also target those who shop online and have interest in fashion. You really can’t get more tailored than that, no pun intended. Why is this more effective for businesses? Because now your money isn’t being spent on ads going to an audience with no interest or intention of becoming a new customer; instead, targeted ads increase new business with potential customers as well as increase engagement with current customers. And the last thing a business wants to do is waste money. Speaking of money… 2. It’s cost-effective Not only are Facebook ads gaining as much, if not more, awareness for your business than TV and radio, but they have the lowest CMP, or “Cost per 1,000 impressions” in history: an average $0.25 per 1,000. That is 1% the cost of TV advertising. Moreover, the minimum cost to advertise on Facebook is $1 a day, yet it’s potentially more effective than traditional forms of advertising (due to optimized targeting). By doing the quick math, that’s only $30 a month – obviously, very little risk with incredibly high reward- rewards you can monitor thanks to Facebook’s Ad Manager. 3. Tracking ROI and awareness With Facebook advertisements, it’s easy to monitor spending, performance, and, most importantly, ROI. You can track the number of impressions (including reach and frequency), activity (page likes, comments, shares, etc.), as well as CPC, Cost per Like, and Cost per Conversion. By easily tracking consumer engagement, you can test different ads, promotions, and posts, as well as A/B test unique targeting options to see what works best for your company. For instance, if you’re targeting prospective customers that aren’t relevant to your business, or if your ads have too broad a reach, then the corresponding page “likes” you acquire might be rendered useless – and in some cases, engagement will be minimal. On the flip side, Facebook advertising functionality has significantly advanced since it’s inception, and the targeting options have grown to become far more sophisticated. Advertisers are now able to target prospective customers based on particular interests, age, gender, or online activity – all in one fell swoop. So if, say, you’re a ladies online clothing retailer, you’d have the opportunity to both advertise to a specific gender, and target those who shop online and possess a vested interest in fashion. You really can’t get more tailored than that, puns intended. [quote]So it’s no longer a matter of if your company should advertise on Facebook, but rather, deciphering the most strategic game plan to maximize engagement once you’ve decided to promote your brand socially. [/quote] To use a term popularized by comedian Will Ferrell, with a little “strategery,” employing Facebook’s sophisticated advertising features will ensure that the rewards far outweigh the financial investment. Are you ready to hit the ground running by developing a well-executed Facebook advertising playbook for your brand? Contact our Florida marketing agency today to let us help you get a strategic jumpstart!
For the love (of everything Valentine’s Day marketing)
Ah, Valentine’s Day. It brings to mind candlelit dinners, flowers sent to the office, and eating entirely too much chocolate. For some, it might even rehash haunting memories of good ol’ Johnny from third grade who gave his handmade valentine to Sarah – while going steady with you. But as it turns out, most of the world isn’t jaded from mourning relationships of grade-school’s past; Valentine’s Day marketing should account for spending expected to reach $18.9 billion this year, up from $17.3 billion in 2014, according to the National Retail Foundation. To break it down: $1.7 billion will be spent on candy; $3.6 billion on a special meal or date; $4.8 billion toward jewelry; $2 billion on clothing; and $2.1 billion for flowers. Oh, and let us not forget the ever-popular, last-minute present: the gift card (at $1.5 billion). These numbers are significantly higher than 2014, ensuring a pretty stellar start for 2015 holiday spending. In fact, nine out of ten consumers expect to spend money on their spouse this February 14th – (leaving us to deduce that one out of those ten consumers apparently likes sleeping on the couch.) For curiosity’s sake, just how much of an affect does advertising truly have on Valentine’s Day spending? The biggest trends in 2015 V-Day marketing seem to be the use of promotions, interactive marketing, and naturally, those familiar “I’m not crying, there’s just something in my eye!” television commercials. (I know you don’t want to admit that you had to reapply your mascara after viewing another lovey-dovey ad, right?) If you haven’t already noticed, brands are getting extra cute – and especially creative – this season. McDonald’s announced February 2nd that their stores would be accepting an alternative form of payment now through Valentine’s Day: hugs! You’ll have to be chosen by the cashier, though, so we suggest batting a few eyelashes and perfecting that “James Dean-esque” wink to be one of the “chosen few.” While Valentine’s Day is typically celebrated by couples (some of my friends choose to celebrate February 15th: the day holiday candy goes on sale), dating site Match.com and Starbucks are making it even easier for singles to couple up at the coffee shop. Match’s mobile app now includes a section entitled, “Meet at Starbucks,” where users can click a call-to-action button, and email one another to arrange a coffee date. So, what was the impetus for this nifty idea? Well, it was sparked by none other than the 3 million members who use coffee-related keywords to describe themselves. Additionally, Starbucks will be offering a few special coffee and pastry deals (such as a cookie and raspberry mocha – for the bargain price of $5) in conjunction with their “World’s Largest Starbucks Date” event. Of course, our list of prime Valentine’s Day ads that convey the power of the holiday wouldn’t be complete without your quintessential Hallmark tearjerker. The greeting card company’s campaign, “Put Your Heart to Paper” features real-life couples describing their feelings without speaking the word “love.” The goal of the campaign is “to celebrate all types of relationships and the type of things anyone would appreciate hearing on Valentine’s Day.” Hard not to let that line of love notes tug on your proverbial heartstrings. So, what does Valentine’s Day marketing mean to you as a consumer? Are you driven to purchase items for your sweetie solely based upon your reaction to a specific ad’s sentimental messaging? [quote] Does “warm and fuzzy” content – be it print, video, or otherwise, have an impact on your spending habits on this “most loved” of holidays? [/quote] And, if you’re looking for creative ways for your business to reach a targeted and highly-responsive audience of consumers, contact the experts at our Florida advertising agency today. We’re perfectly positioned to help you develop a strategy that will generate an uptick in brand awareness and engagement that you’re certain to love. After all, who doesn’t “heart” a well-executed campaign?
Steps to Defining A Competitive Advantage In Your Market
When operating in a highly saturated market, it is especially important for a business to have a competitive advantage that sets the company apart from the others. Finding that one thing that makes a business unique involves being innovative and thinking strategically about an industry. For example, Coca-Cola operates in the soda market with PepsiCo, but many customers choose to buy a Coke because of its perceived value. In the business world, strategy is all about creating and implementing a competitive advantage that is unique, profitable, and sustainable. The goal is to provide direction that allows your business to perform in a way that is superior to your competitors. And while it may be easy to develop a strategy, it isn’t easy to develop a successful strategy… Here at BIGEYE, our marketing solutions are rooted in strategy to ensure that our clients see superior financial results. [quote]Check out how BIGEYE applied these steps to give Ability Wood Flooring a competitive edge within their market.[/quote] Is your competitive advantage unique? If not, maybe it’s time to rethink it. Here are the two fundamental steps to finding your business’s true competitive advantage. Have a complete understanding of your business environment or landscape. This includes defining the forces that shape competition, the key players in your market, the drivers of your industry’s future, and where your firm interacts in the industry. Next, choose where to compete. How will your business position itself? Evaluate the industry using Michael Porter’s “Five Forces Framework” as a tool to choose your positioning. The positioning should speak to the value perceived by your target market. These two steps should result in finding a competitive advantage that results in customers choosing your firm over competitors. Does your business need assistance in implementing strategic marketing processes that result in financial returns? Let our team of creative minds and strategic thinkers help! Contact us today and let’s get started. Source: Casadesus-Masanell, Ramon. September 4, 2014. “Introduction to Strategy”. Retrieved from Harvard Business School.
Assessing Ello and Emerging Social Media Sites For the New Year
Recently, tech blogs and trendsetters alike have been talking about Ello, a new social media site designed to serve as an alternative to Facebook. In many ways, it seems preposterous that a company would try to challenge – or even potentially replace – Facebook, which is by far one of the largest technology companies in the world. What you might find fascinating, however, is that Facebook’s key target demographics tell a bit of a different story – one that leaves us pondering whether or not the site may eventually be headed in the same direction as Friendster, or a quite possibly, a “pre-Justin Timberlake” MySpace. When I joined Facebook, which by now was approximately eight years ago, it was the quintessential online social media destination for users in their 20’s and early 30’s to communicate with one another. Rarely would you find a parent with a Facebook account of their own, and, in terms of other social networking options, there were a few, but none were so communal. Facebook served as a landing place for all my friends – including those from many different social circles – no matter how I knew them. Times have most certainly changed with emerging social media, and with the rise of Ello, who knows? We might just end up seeing an exciting new shift in the way people access this type of online networking. Most bonafide marketers understand that today’s “young people” aren’t as present on Facebook, and given the host of other options, they’re more likely to spend a bulk of their time visiting Tumblr, Instagram and Snapchat. It doesn’t take a seasoned marketing professional to know that it takes a lot of bandwidth to be everywhere at once. This is one of the key reasons why these days, my peers are generally only active on social networks in which they associate meaning to their daily lives – and, they remain active on forums where people with similar interests tend to gravitate. Personally, I follow a lot of comedians and comedic actors and actresses on Twitter, which is the perfect venue for crafting short, funny “witticisms.” On the flip side, Facebook is relegated to keeping in contact with a wide circle of friends, while LinkedIn assists me in maintaining professional connections, and growing my network. I access Instagram and Pinterest daily, but other accounts such as YouTube, Foursquare, Google+ and Vine tend to go virtually untouched and oftentimes, unmaintained. As a digital strategist, my Orlando advertising agency’s social media team and I truly don’t envision that Ello will succeed in becoming the new “Facebook alternative.” As recourse however, I am placing a pretty firm bet on that notion that it may eventually attract communities of its own – communities made up of Facebook users who may feel as though Facebook is not the best social media site to serve their varying needs. This might be as a result of its use of data manipulation, or perhaps, the addition of an advertising component, or simply, that users may find their personal news feeds to be disinteresting. Whatever the reasons – and there are many – we’re seeing something much larger at play here. [quote]In creating and maintaining a social network, it’s important to know where your audience spends a majority of its time.[/quote] If you look closely enough, you will see that users practically canvas the web – they’re accessing sites of all types. There are entire social networking sites that are geared specifically to peoples’ interests and ideologies. Often times, it may simply consist of a message board of people who are interested in topics deemed otherwise obscure, such as “hula hooping culture” or “18th century songwriting.” Topics that might not resonate with most of us, but as the moniker goes, “if you build it, they will come.” In a similar vain, crafting and maintaining these social networks has a great deal to do with formulating a community, and marketers can utilize this lesson in helping to propagate such communities around their products. Specific audiences may be on Facebook because there’s nothing better, but I’m certain that if you attempt to present them with a dedicated forum – one that speaks directly to their area of interest – I’m sure you won’t be surprised to watch as the population of that social networking community flourishes. As a result, members have the opportunity to create connections both online and off. One such example is Fitocracy, an online forum for self-proclaimed “fitness geeks.” I’m a firm believer that Facebook is here to stay, although with many of the above concepts in mind, the site’s following may have the potential to shrink. This is particularly true as its users find more specialized social networks where they can connect with like-minded people (and not necessarily individuals that they know personally in the real “offline” world). By keeping in mind that a successful social media strategy isn’t limited to the most popular social networks, brands can essentially begin to seek audiences in these not-so-mainstream avenues – which, in turn, might allow them to develop more authentic connections to their own customers. Looking for digital expertise on how to best navigate the social media landscape? Contact us today to form a partnership to chart your course!
Why Customer Tracking Programs Using Data Mining Are A Win-Win
In today’s fast-paced, technologically charged environment, it should come as no surprise that every company we interact with – whether digitally or in-person – is collecting information about us. The team at BIGEYE’s Florida marketing agency knows that the more apps we download, the more time we spend perusing websites, and consequently, the more frequently we utilize rewards cards, the more we’re allowing the companies we interact with to increase their knowledge of us. The overarching purpose: to better understand how we use products and services produced and proffered by these businesses. For many years, this process, called data mining, was mired by privacy considerations. After all, how much about my purchasing habits do I really want a large, national brand to gain access to? With a little forethought, the answer has become much clearer: the more these companies know about us, the more capable they are to cater to our needs. Before an influx of digital tools made it easier to gain insight into consumer behavior and purchasing preferences, businesses had to do quite a bit of “guestimating.” For example, it might be safe to assume that you sold 10 cupcakes over the course of a week if your inventory confirmed 10 fewer cupcakes than you had at the start of the week. But, what does that really tell you about who you sold those cupcakes to, and when during the span of the business week they were sold? This is where a well-defined loyalty program comes in. When companies are aware of the exact products that you’re purchasing, and how often your transaction history includes these items, programs are better tailored, offering the goods and services that align best with your buying preferences. For instance, if your retailer knows your preferred toothpaste brand, then you’re probably a prime target when that brand comes out with a new floss or toothbrush. The retailer can offer you a discount that you’ll actually use, and as a result, you may end up with a fabulous deal on an innovative new product. While this two-way street of business to consumer benefit has been standard practice in the marketing world, it’s taken on a new life in the age of big data. Using another retailer example, this is why Amazon is better equipped to recommend books that I might enjoy – after first becoming familiar with my current penchant for non-fiction, or why Facebook is able to directly target ads toward me – all based upon websites that I’ve visited previously. [quote]There is a point-of-sale challenge, however – this data is much more difficult to capture during the customer’s in-store experience.[/quote] From an online perspective, Amazon has the benefit of being able to share products with its users that may be of interest to them – both while shopping and throughout the checkout process. On the flip side, while at a brick-and-mortar store, by the time you’ve reached the register, it’s often too late. As a result, retail businesses must strive to capture this data using other means. Here’s a sneaky little secret: logging-on to a store’s wifi, or accessing their app while you’re visiting a retailer, your consumer data – including your movements – may be captured, allowing for discovery of those merchandising displays that may have caught your attention. Further developments in this space include data processing cameras that help map consumer preferences, including capabilities such as customer identification, with additional technology to recognize consumers each and every time they return to the store. While 77% of consumers claim to find this type of in-store tracking intrusive, what they may not realize is that they’re already being tracked through online purchases, mobile phone and social media usage, and many other daily activities. So, why should the in-store exchange be any different, particularly if it results in improved services and enhanced customer experience? Yes, retailers are seeking personalized information about their consumers, just as the old adage of “knowing your customer” implies. Truly, however, most are really interested in obtaining these purchasing details primarily so they may create an unparalleled consumer experience – one that is more enjoyable and efficient shoppers, whether online or off. As a result, and in congruence with the resurgence of rewards programs, customers benefit from additional discount offerings, free samples, and other services targeted toward these uniquely personalized needs. Need assistance in reaching prospective customers by employing an effective tracking program? Contact us today to partner together to score BIG returns for your business!