Categories
Audience Analysis Tourism Hospitality Convention

Tourism analytics are a real asset for tourism-based businesses. Data can help you understand seasonal trends, know what your competition is doing, and support your customers’ purchase and planning process. Everyone has suggestions on what to track, what tools are best, and how to link it to your business insights.
The good news is, there isn’t a one size fits all recipe. There is so much data that you can track almost anything today. We want to share the only four things you need to know when building an analytics program for tourism marketing rather than getting caught up in the tools and processes.

Figure out what you’re trying to understand:

First and foremost, decide what you want to learn. Depending on your business model, you might not need to collect every piece of data about your customers. For example, the Ritz Carlton is known for impeccable service, personalized experiences, and white-glove attentiveness. They decided to harness data to their customer management system to track trends in food and beverage, tastes and preferences, and expectations. They use this data to personalize the service delivery experience when guests are on site. You might decide you’d like to understand how your customers navigate between mobile and desktop sites, how long the sales cycle lasts and what assets they need during that time, or how to price competitively in your market. Knowing what metrics are most important will work best for you starts with defining the problem you hope to solve. Start there, and the rest of your data strategy will develop more naturally.

Realize that you can’t do it all:

Focus on the big swings. This is especially important if you are just building your data program. With so much insight available, it’s easy to try to do too many things at once. Work with your data team or a trusted marketing agency like ours to prioritize your data needs based on level of effort and impact. A good rule of thumb is to start with low hanging fruit (this might include things such as site heuristics, quick UX and content updates online, or mobile integrations).

This gives you time to formulate a problem and hopefully find its answer based in data. When choosing what metrics to track, always double check that that KPI relates back to a question you have about your business or client base. And don’t forget to pare down your strategy. To start, choose one to three things to track and work on each quarter. If you find this is easy, ramp it up; but start small to ensure you get results from your investment.

Learn and act fast:

Many digital marketers joke that ROI is out — and speed to market is in. While we still think ROI is an important metric to keep an eye on, we agree that action is key. Tourism and hospitality are ever changing industries where customers tastes shift as new trends emerge and new technology changes how we travel and interact with the world. Don’t collect data for the sake of collecting data and know what you want to do with it. Before tracking any given metric, create a hypothesis of what you think might be happening and how you would address it if data proves you right. That last part is critical. If you don’t have a plan for how you want to use this information, you’re simply collecting observations rather than insights; And that won’t help your business.

Invest in the future:

Because you might not be able to do everything at once, it’s important to prioritize your data collection and your data tools. Look ahead to consider the systems you will need in a year, or five years. Even if you opt out of these tools now, it’s important to keep them in mind so you don’t suddenly find yourself behind your competition. Partnering with a data-based agency like BIGEYE is a great way to help prioritize your data investments, tools, and collection roadmap so you are using the data you have and planning for the future effectively (and affordably).

 

No matter what stage you’re at in your data strategy, we’re here to help. Click here to learn more about the types of services we offer – from data mining and trend forecasting, to online testing and retargeting.

Categories
Audience

View more of BIGEYE’s creative infographics.

Understanding Generation Z

By BIGEYE Posted on October 19, 2016

The New Kids on the Block

This is their turf:

  • They are the first generation of digital natives.
  • Use an average of 5 screens: smartphone, TV, laptop, desktop, and iPad.

Fenced in generation:

  • This generation values privacy, preferring social media apps such as Snapchat, Whisper, and Secret over Facebook.
  • A quart of 13-17 year olds left Facebook in 2015.

As such, they are technology-dependent:

  • 79%display symptoms of emotional distress when kept away from their smartphones.

Get on their good side:

  • By 2020, Generation Z will account for 40% of all consumers.
  • They already wield a buying power of $44 billion.
  • Around 72% of current high-school Gen Z’s want to own a business.
  • 60% want their jobs to impact their world.

It’s not all sunshine and rainbows:

  • Z-Kids know a thing or two about hardship, from growing up post 9/11, the recession, and many mass shootings.
  • 58% of Gen Z’s are either somewhat or very worried about the future.
  • 57% prefer saving money to spending it.

They are not easily amused:

  • The average Gen Z kid has attention span of 8 seconds.
Categories
Audience Tourism Hospitality Convention

We can appreciate that some tourism marketers are hesitant to fully embrace augmented reality. It has the power to change the industry as we know it. And while we don’t buy into the most seemingly farfetched fears that we might end up in a Matrix-like world in which humans experience their world from behind a computer screen, we understand the sentiment. Instead of resisting this change, we recommend embracing it. Like the advent of robotic service providers that can bring towels, store luggage, or prepare meals for guests (thus eliminating the need for some hospitality roles) – the future is unavoidable. Instead of fearing these changes and risking the obsolescence of your tourism destination, find ways to integrate these new technologies with your existing service model.

Augmented reality can complement not replace tourism marketing:

There are unlimited ways that augmented reality could enhance your guests’ tourism experience. AR can help new travelers decide what type of trip is best for them (Is flying really that terrifying? Is cruising for me? Will I prefer a safari or a ski trip?). It can help them vet destinations and hotel or restaurant choices. And it can tease entertainment options that might seem like a splurge (until you experience them that is). Notice, it’s called augmented reality not alternative reality. We’re pretty sure a cross-continental flight that provides an oh-so-convenience excuse not to check work emails is enough to draw tourists from even the most farflung reaches of the globe. And in a world that is increasingly “on,” experiences are a valuable currency that lets us unplug, recharge, and connect with the world around us. Augmented reality can simply help make the preparation around these experiences more convenience.

Similarly, augmented reality could help alleviate logistic difficulties certain tourism destinations face. Whether your target audience has a language barrier, navigation challenges, or spotty internet and cell service, augmented reality can help prepare tourists for their trip and give them tools to navigate or seek assistance while on the go. This might be especially valuable for the business traveler who doesn’t quite know how to spend her freetime or who is unsure how to get to her next on-site meeting.

Augmented reality is the next best thing to tourism marketing:

That said, for those individuals who simply can’t afford to travel or take a two week vacation, augmented reality can provide a unique paid outlet for tourism destinations to monetize virtual trips to their location. We know, that doesn’t sound all that glamorous; but it is a win-win situation for those individuals who could now take park in experiences that were previously out of reach and for industry providers who will benefit from this trend. In the same way that television hasn’t replaced books or radio, we believe that augmented reality does not need to replace tourism, but can become an extension or alternative. To extend this metaphors one step farther farther: even if we’ve read the book, sometimes the movie is just as enjoyable. A trip using AR doesn’t necessarily mean there won’t be a physical trip, but it could if you jus tweed the Cliff’s Notes version in a pinch.

Augmented reality can preserve and promote tourism marketing:

If you’ve ever visited South East Asia and climbed through the ancient ruins of Cambodia’s Angkor Wat, you might have wondered how long the tourism destination will continue to allow visitors access to nearly all parts of these incredible temples. Augmented reality gives us the tools to preserve historic landmarks that should be off limits to protect their beauty for generations to come. In the most fragile sections of the temple, tourism officials could offer an augmented reality exhibit of the relief sculptures rather than full tourist access. Paintings that are light or temperature sensitive could not be seen, dangerous caves could now be accessible, and so forth. The same is also true in war torn countries where tourism has become less popular due to local unrest. Countries such as Egypt, Turkey and even Israel could continue to promote and share their unique experiences in times when some travelers may be hesitant to visit. And we’d like to think that’s one small step closer to repairing our global community.

Reenergize local attractions with augmented reality:

Even if you aren’t an exotic tourism destination, experimenting with augmented reality sets your brand apart and will allow you to adapt to changes as they occur, while promoting local exploration and discovery. Encourage your regional community to learn about their homes in new and unique ways be drawing them through a historic neighborhood with augmented reality attractions. Make local educational sites more interesting, and promote local businesses by harnessing AR’s navigational tools. At even the smallest levels, AR apps and smartphone pairings can provide new business marketing tools to expose local gems that make your community unique.

We realize that some of these attractions aren’t quite here yet, but they are coming. Prepare now by priming your current multi-channel marketing strategy for the next phase of digital marketing and beyond. Contact us, we are here to help with any questions you may have about this so called, “augmented reality.”

Categories
Audience Audience Analysis

Today, the Durham Bulls are opening up their iconic baseball field to avid Pokémon hunters hoping to catch the elusive pocket monsters that are taking over the world (and our lives). The Bulls will charge people just to walk in the door in hopes of finding small digital creatures lurking around the field, and anticipate a massive turnout not unlike actual game days. And no, there isn’t a game today – they are just capitalizing on Pokémon GO marketing. If you’re asking yourself why you should care, we’re about to tell you.

Pokémon Go marketing:

Pokémon GO is a Nintendo and Niantic Labs gaming collaboration that combines elements of augmented reality with the wildly popular Pokémon franchise. Using your smartphone’s camera, you can search for Pokémon in the real world as the game guides you to local hot spots, historic landmarks, and hidden gems in your city where the creatures are hiding. It’s not uncommon to see grown players and children alike scanning the world with their smartphones hoping to catch a glimmer of an unsuspecting monster. The app-based game has transformed people’s lunch breaks, dog walks, and errands forever. … And Pokémon GO marketing is about to transform your business. 

What if my business is already a pokéstop?:

Niantic Labs has compiled a list of geo-based hangouts where Pokémon like to congregate or play based on user input. In the past, businesses could even submit themselves as a Pokéstop or Pokémon gym if they had a cool story or interesting space to share with the world. Due to the overwhelming popularity of Pokémon GO and the subsequent influx of submission requests as marketers and business owners realized the untapped potential of luring Pokémon (and potential customers … we mean hunters) to their location, Niantic Labs has temporarily suspended this capability.

If you’re one of the lucky businesses that is already tagged as a Pokéstop, you may have noticed an uptick in foot traffic as players visit your store. Instead of turning away Pokémon players (we will admit, Pokémon hunters’ blank stares and distracted demeanor can make them somewhat hazardous – or at least annoying – to the rest of the world), invite them into your business with Pokémon GO marketing tactics. Or even better, get in on the game. You can use an in-game “lure” to attract Pokémon creatures to your business for 30-minute windows. Go ahead and announce you’ll be having a Pokémon happy hour (lure included) or flash sale Pokémon frenzy and watch the gamers, and customers, roll in. The game’s popularity will only increase, so don’t be afraid to find creative ways to engage this new audience.

Pokémon GO has given business owners a way to generate foot traffic at their brick and mortar establishments like no other geo-based or augmented reality program has done in the past. Niantic Labs has even alluded to future sponsorship and marketing opportunities inside the game so companies can leverage the Pokémon GO marketing potential. For now, bust out the chalkboard signs and Yelp reviews to let this alternate universe know you’re worth a visit.

But what if there are no pokéstops in sight?:

Don’t worry if you haven’t been identified as a Pokéstop yet. There are still plenty of opportunities to take advantage of this hyper-trend. Log on to your local MeetUp.com chapter or register an event with your local Chamber of Commerce for Pokémon GO enthusiasts to socialize. Although your space may not be a Pokémon hot spot, that doesn’t mean players won’t congregate together if you give them the opportunity to do so (after all, they may find a few Pokémon nearby anyway). And voila, suddenly you have a whole group of potential customers at your fingertips. Offering a discount to Pokémon players never hurt either. If your business doesn’t need a boost of traffic, simply sharing articles about the Pokémon trend, or local insights into where to find them, can engage users with your social media community in new and meaningful ways. Engagement is the key to conversion, purchases, and sharing, so don’t underestimate the potential of a good Pokémon article.

Taking advantage of these types of social or pop culture trends gives marketers an opportunity to engage with customers who might not have noticed them otherwise. Trust us, they may not seem to be paying attention to the real world, but Pokémon GO players are highly engaged with other enthusiasts. Embracing the Pokémon GO marketing craze is a broad, viral platform to connect with prospective customers who are hungry to connect to get more of this new, exciting world. Aligning your business with the Pokémon trend gives you an instant boost of popularity – or at least curiosity – for players and passerbys alike.

For ideas on how your business might benefit from a few pocket monsters, give your local Orlando marketing agency a call. We aren’t saying we’re obsessed or anything, but we know a thing or two about what attracts Pokémon fans to your place of business.


Update!

More than 6 months from when Pokemon Go was created (see above), let’s explore how quickly its popularity came to an end, despite how wildly obsessed people were, and why the phenomenon turned out to be just a fad.

What is Pokemon Go?

Pokémon GO is a Nintendo and Niantic Labs gaming collaboration that combines elements of augmented reality with the wildly popular Pokémon franchise. Using your smartphone’s camera, you can search for Pokémon in the real world as the game guides you to local hot spots, historic landmarks, and hidden gems in your city where the creatures are hiding. It’s not uncommon to see grown players and children alike scanning the world with their smartphones hoping to catch a glimmer of an unsuspecting monster.  At its height, Pokémon GO had 45 million daily active users.The app-based game had literally transformed people’s lunch breaks, dog walks, and errands. … And Pokémon GO even started to transform businesses.

Our advice when this game was at its peak was to become a “Pokestop” and then advertise that you were one using a chalkboard or Yelp, so on and so on.

Why did it “die”?

Because of Pokemon Go’s precipitous decline, the game has been labeled a fad. But, what went wrong? Some argue that the game had a lot of missing features, while others say the game got boring & didn’t introduce new features in a timely manner to keep their interest. Besides failing to introduce new features, Pokemon Go also removed popular ones.

What is going through Nintendo’s head?

While improvements and additions to the game have been made in the form of the buddy system, a revamped tracker and holiday events, there’s much more work to do in order for Pokemon Go to gain back its popularity. But, some people believe that Niantic is up to the challenge. You know what they say…only time will tell.

What happens if it makes a comeback?

We’re not thinking that’s likely, but hey, you never know! What we do know is that Pokemon Go tried to make a “limited-time celebration” game for Valentine’s day that was only available from 11:00 A.M. PST on February 8, 2017, to 11:00 A.M. PST on February 15, 2017, to encourage players to grab their valentine, get out, and explore the world around them, but it didn’t go over too well. In fact, many people didn’t even know it was happening.

For ideas on how your business might benefit from a few pocket monsters if a come back occurs, give your local Orlando marketing agency a call. We aren’t saying we’re obsessed or anything, but we know a thing or two about what attracts Pokémon fans to your place of business.

 

Categories
Audience Audience Analysis Consumer & Healthcare Healthcare Media & Analytics Media Analysis & Measurement

It’s definitely a challenging time to be working in healthcare.
There are political pressures – and competing agendas – to expand or undo the insurance structure. Along with increases in billing, every insurance provider requires their own rules and paperwork, and regulations are constantly evolving regarding the best practices for discussing or sharing patient information.

On the brighter side, there are also more tools to help patients, such as information that can be easily accessed or shared on mobile devices. And the economic outlook for the industry as a whole is nothing but positive – the Bureau of Labor Statistics predicts the medical and health services workforce to grow by 23 percent by 2020. More Americans are now eligible for care, which is good for them, but it may create challenges for providers who already have been feeling stretched thin. Consumers are also increasingly interested in managing their own care, which also is a noble goal but can create concerns about quality.

So healthcare marketing is especially critical – providers need to get the word out that they’re available to assist. And they also need to connect with audiences who no longer seek their services in the same places that they used to, such as newspapers or phone books.

For those who follow current healthcare marketing trends, the industry is increasingly going digital. Here are 4 reasons why you need to secure an online presence via a sound digital advertising strategy:

1. It’s where the audiences are:
According to the U.S. Census, 83.8 percent of households owned computers in 2013 – and jumped to 87 percent the next year. Of these, 78.5 percent own a desktop or laptop and 63 percent have a handheld computer. As of 2015, 84 percent of households reported regular Internet use, and 73.4 reported high-speed connections. The Pew Research Center said that up to 80 percent of Americans have also tried to look up health info online, especially specific conditions or diseases for themselves or others. Whether you’re promoting your medical services on social media or online ads on other sites, your healthcare advertising can reach a significant amount of the general population. Ad programs also can let you drill down and target certain age groups or geographic areas who will especially receptive to your message.

2. Audiences want health info:
The same Pew study showed that 70 percent of surveyed adults received healthcare information from their health provider, which is good. But 60 percent said they also get health info from friends and family, which may be riskier. With the power of the Internet, people can now learn about any sort of ailment, no matter how uncommon. It’s also an easy source to self-diagnose, from basic sniffles to a new blemish. According to the U.S. Library of Medicine’s Medline Plus site, teens are especially prone to seek out their information online first, even before talking to their parents, their teachers or health providers – 58 percent usually start with a Google search. Your healthcare digital marketing can focus on you as someone who can help find answers quickly and easily.

3. To counter the bad stuff:
Though an online community that’s increasingly aware of basic health can have its advantages, the downside can be that they may wind up at questionable, unreliable, even dangerous sites. However, you can portray yourself as a health professional who will always provide accurate information, or dispel some of the half-truths or outright lies they may run across online. Your healthcare digital advertising can drive people to your site to get our perspective, and you can even reinforce the point with web content or blog posts telling why some online claims aren’t quite true.

4. To build your brand:
Whether you’re a sole provider, part of a group of physicians or even part of a hospital community, you need to claim your online presence and find a way to stand out from the other area providers. A hospital marketing itself online can portray itself as the community’s prime source for all levels of medical needs. Consider allowing visitors to do everything at the site from learning about the facility to paying a bill to finding out about area health resources and even job openings. Even though an established local health center may have good word-of-mouth by nature, a comprehensive site and an online hospital advertising campaign can increase its presence – and the perception that it is the local authority.

Though it’s easy to want to focus on performing healthcare services well, today’s consumer desires even more. At this least, prospective patients are seeking assistance to educate themselves on a specific service to determine if it might be the right avenue to pursue in treatment. It’s easy to receive unqualified advice from one’s well-meaning friends, but there’s no substitute for reliable, qualified medical opinions.

Are you a healthcare marketer in need of some digital advertising prowess to positively impact your strategy for success? Contact our team of experts today for your own “check-up,” and to learn more about reaching prospective patients online.

Categories
Audience Audience Analysis Banking Consumer Insights Digital Targeting Services Media & Analytics Search Engine Optimization

It would be oh so simple for a bank to forgo newer methods of communicating – such as social media.
After all, to someone less familiar with social networks like Facebook and Twitter, these online channels all seem like places where people personally love to play, not conduct or discuss serious business. And financial institutions – especially the ones that have been around for awhile – often like to uphold a solid, traditional image, far from anything hip and trendy.

Unfortunately, as any teen or twenty-something can tell you – or maybe should be telling your institution’s decision-makers – today and tomorrow’s customers are actually the ones spending time on these networks. Like it or not, they’re the audience banks need to connect with – to some extent – if you want to remain profitable. If you manage your brand properly and tell your story well, you can still use modern platforms and search engines as outreach tools to describe your longevity and values. The difference is, you need to show your current and prospective customer that your institution is not only in touch, but also looking toward the future.

Beyond a basic social media presence, or hoping users “like” or follow your bank’s activities, your bank marketing ideas should also consist of spending money for additional exposure. Most larger social networks and search engines now encourage businesses to pay to put their messages in front of more people, or at least target different demographic groups of potential customers.

Like many other industries, bank marketers also have the ability find other ways to purchase advertising, whether it’s buying common keywords that customers may use when conducting a search, or running online ads designed for a specific target audience. Though budgets may reflect a preference toward financial marketing approaches that are low to no-cost, in the current online economy, you are definitely able to obtain a farther reach – and likely a better return – if you’re willing to make the investment in a paid ad campaign.

Here are 7 smart ways banks can utilize these paid ad campaigns to generate the greatest ROI

Facebook audiences won’t see everything you put out there – The actual number is a little vague, and depends on your audience, in tandem with Facebook’s method of determining what individual users see. While Facebook states that your audience will organically see just 16 percent of your posts, no matter how interesting or clever you make them, other media professionals and search experts say this figure may be as low as 2.27 percent for pages with more than 500,000 likes. (If “organic” is a new term for your marketing team when used in this context, it describes how people come across your information naturally, on their news feeds. Your inorganic reach means that you can pay a bit extra to have more seen by a larger audience.) Facebook offers a variety of payment options, from a small daily amount over time for a certain-sized audience to larger amounts designed to reach more people.

Consider boosting – Along with creating a paid campaign for your news feed to be seen by a larger target demographic, Facebook business page owners also have the option to pay to boost the reach of individual posts, placing them higher in people’s regular news feeds. This could be handy for a particular promotion, event, or contest. It also is a good tool to measure the amount of traffic with or without boosts for similar campaigns. If you see a noticeable spike in participation – such as actual new business and “real life” customer activity — it could be a good indicator that investing in boosting truly attains tangible results.

Frequency works – Just like the old adage states that a marketer shouldn’t buy an old-school newspaper, radio, or TV ad for only one day for an ongoing campaign, it is also advised that you not run a Facebook business page, or a post, for just a short time. Even though you may be following best practices and posting new material several times per day, not everyone will be checking in regularly to see it. Or, with all the clutter out there, they may not notice your ad or post the first few times it appears. It is wise to plan on running any campaign for at least one month – this will give you a longer-term view to gauge your response rate over time, and then you may adjust your message, or the scope of it, as needed.

Target your audience – As unbelievably cool as the fantasy would be for every Facebook user to see and love your bank’s message, it’s a smarter bet that not everyone among the 1.65 billion active users will care about your bank’s ads. So when you’re planning your paid bank advertising, you may be able to target your ideal potential customer by selecting gender, age, geographic location and similar demographic information. This will be a better use of your budget by appealing directly to people who are more likely to want to know more info about your institution rather than “anyone out there.”

Try other networks – Other social media companies also allow you to buy general and targeted ads, especially if you think potential customers will be using their services. LinkedIn, for instance, is more of a professional network, lacking the games and general feel of Facebook. This site focuses more on workplace networking, so there are posts about economic sectors, employment trends, management strategies, hiring tips, and labor issues. Banks wanting to attract certain potential customers or employees on LinkedIn can purchase ads and target everything from certain job titles to geographic areas. Though actual ad space is limited to a few dozen characters, you may include a call to action. This demographic group should be quite familiar with you, and in turn, want to know more.

Run multiple campaigns at once – Since marketing is always in motion, it’s smart to focus on one more than one prong at a time for all of your outreach. This is also of benefit for your audience – not every online user will use every network. Some may prefer Facebook, but others may frequent Instagram, Pinterest, Tumblr, Snapchat, or any of the common platforms or search engines more regularly. Running multiple campaigns simultaneously will also provide you with a chance to customize your message for different platforms, and adjust as needed.

Easy-to-see results – A good bank PPC campaign has the potential to provide all sorts of data –  starting with who was reached and how they responded to your message or multiple messages. Google Ad Words or similar analytics programs share both high and low points, including the most frequently clicked keywords, where people came from, what percentage went directly to the landing page, how long they stayed, and what times of the day, week, or month saw the most activity. If you’re working with someone proficient with Google AdWords, you will also have access to a general Return on Investment figure based upon how much you spent and your overall reach. Actual conversions from the campaign to customers can also be a strong indicator.

Overall, creating a bank paid search campaign can be a fun way to connect with potential new users, while also enhancing relationships with existing customers. While facilitating paid ads via your institution’s social networks may be considered “unchartered waters,” the return is well worth the investment, with campaigns that may be customized, and that offer measurable results. For more information on the paid advertising approach, and the development of the best strategy to meet your needs, contact our team of digital experts today!

Categories
Audience Audience Segmentation Banking Consumer Insights Conversion Optimization Media & Analytics Media Analysis & Measurement Media Planning and Buying

As featured in an earlier blog post, millennials represent 92 million in the United States and are reaping the benefits of improved financial conditions after bouncing back from the recession hit. These young adults are ripe for new banking relationships and considering new bank products to suit their needs, such as checking and savings accounts. This is the perfect time to convert them into new banking customers but how does one do that with one of the most fickle generations?
Establishing a well-planned conversion marketing strategy is key to success realization. There are numerous formulas and methodologies from which to choose. At BIGEYE, we use a proprietary model called the BIGEYE Conversion Matrix™ (BCM). It starts with preparing your data set, followed by activating your conversion optimization program and unlike other methodologies out there, works with both online and offline conversions.

BIGEYE Conversion Matrix
BIGEYE Conversion Matrix

Here’s how a conversion marketing program may look like for a bank:

Audience data insight

It’s important to not only know your audience but to immerse yourself in understanding them. For example, millennials were born into technology, the Internet, read blogs, and are practically tethered to their mobile devices. It’s also important to note that these young adults are not especially brand loyal and highly influenced by their peers.

Market and audience segmentation

In addition to pulling demographic, psychographic, ethnographic, and technographic insight on your audience, one must also consider the target market(s) and segment the audience into more groups. For example, your branches may be located between a couple of neighborhoods and your audience may be a mix of individuals and companies. The approach toward attracting one segment may be significantly different than the other.

Program KPIs, goals, and objectives

One of the most important stages of establishing your BCM data set is defining your vision for success realization. What are the key performance indicators, goals, and objectives? How will you measure success? Most likely the answer will contain a number of items such as number of new accounts opened, number of bank products upsold to existing bank customers, in-branch appointments booked, number of live chat sessions, branch and ATM location look-ups, etc.

Metrics and benchmarking

Once your KPIs, goals and objectives are defined, it’s important that a form of measurement and benchmarks are set. You may feel that your conversion marketing program is successful but in order to prove your instincts in quantitative terms, you will need to run your result data through the metrics.

CRM planning

Using the right customer relationship management tool and setting it up effectively will ensure that every conversion is organized for future action to be taken. By spending some time planning your CRM strategy, your bank can build an ongoing email marketing program and alert your customer service representatives of a customer inquiry.

SEM planning

Finally, the success of your conversions is tied in part to the quality of traffic your website and/or landing pages receive. A carefully designed search engine marketing program that integrates organic with paid search strategies, will help drive the exact audience you are seeking to convert.

Running your conversion marketing program

How To Develop a Successful Bank Conversion Marketing Program


Once your BCM Data Set is complete, you are ready to launch your program. For new accounts, you may wish to set up dedicated landing pages that are custom designed to provide content specific to the audience segment you wish to attract and the product or offering you wish to feature. One of your landing pages might feature your small business checking account products with clear call-to-action (CTA) messaging directing the user on how to take action. Another landing page might focus specifically on your “no fee” checking account products with a clearly stated “Apply Now” CTA button.

Once your landing pages are created and your SEM program is pointing to them, you will want to test multiple versions of each page to maximize your conversion performance potential.

How To Develop a Successful Bank Conversion Marketing Program

Some of the elements you can test are as follows:

Color – Does the blue button perform better than the red one?

Copy – Are there certain words that resonate more with your audience than others?
Images – Is the photograph you’re using showing someone that is too old or too young? Maybe it’s not the correct ethnicity or the activity of the subject is all wrong.

Content Positioning – Does the user have to scroll down to far to find the CTA button or form? If so, consider trying a version of the page that brings that more prominently above the fold.

As your bank introduces new products, features, branch locations, etc., you will want to make updates to your program so that they correspond accordingly. The more targeted, relevant, and tested your program is, the more conversions you will receive.

In search of additional ways to establish – and maximize – you bank’s conversion marketing program? Contact our team of experts today to devise an innovative approach that both attracts and retains profitable customers.

Categories
Audience Audience Analysis Campaign Creation & Development Consumer Insights Creative & Production

As you are likely aware, rent costs have spiked nearly 15% since 2010, while mortgage interest rates are at new lows after the recession. Yet believe it or not, millennials are still happily paying an average of $1300-$1500 (or more) for rent month after month, with no property equity to show for it. There are many reasons why millennials are opting to rent instead of buy, and to successfully market to this generation, BIGEYE would like to share the following helpful hints to assist you in gaining a greater understanding of those reasons:

Know who you’re talking to:

There are 92 million millennials in the United States. Collectively, they have over 1.3 trillion dollars of student loan debt, may have spent a few years living with their parents or friends when the recession hit, and are bouncing back from 4.7% national unemployment rates. On a brighter note, financial conditions are improving for the 20- and 30-something set, and many are finding themselves ready to cut loose and enjoy a breath of fresh air.

Apartment living can represent that much sought-after breath of fresh air. When older generations explain what the “American Dream” means to them, they often cite owning property or putting down roots. Millennials may include having luxury amenities they wouldn’t be able to afford if they owned a home, such as valet parking, a pool, free gyms or billiard rooms, or a building concierge. Couple these attributes with easy access to food, nightlife, arts, and entertainment in the heart of most urban hubs. American Dream, indeed.

To millennials, the prospect of a 30-year mortgage translates to staying in one place – in one job – for the next three decades. This is a generation that can barely commit to two-year cell phone contracts. Marketing campaigns mapping out this generation’s lifespan aren’t liberating, they’re terrifying. Marketing campaigns that highlight the freedom of renting (or owning a secondary rental property as an extra income stream) – now that’s something.

Speak their language:

Successful property management marketing hinges on your ability to speak this generation’s language. Communicating with millennials the same way you would to the Baby Boomer generation is sure to leave your apartment marketing a little flat. This generation wants to live in locations where homeownership may be out of reach, or they may not be ready to get married and settle down yet – making homeownership a necessity.

The mistake most people make when marketing to millennials is that they assume the Y-generation is unhappy with this arrangement. Goldman Sachs conducted a study that suggests 30% of millennials believe buying a home is important … just not right now. A similar study  shows more than 79% of renters between the ages of 18 – 35 want to buy a home within the next five years. That means these renters are content being, well, renters until then. But what does that mean for property managers?

In highly desirable locations, such as San Francisco, Denver, or New York City, that means it’s an owner’s market. Even if millennials were ready to buy, high down payments, aggressive credit requirements, and staggering debt to income ratios make this prospect difficult. Property managers that give millennials access to apartments with high-perceived value will win their hearts, and since most renters pay up to 30% of their disposable income in rent according to Zillow, you’ll also have access to a large piece of their business.

Vacancy rates are at a 20-year low according to the American Census Bureau, so property marketing that targets exclusivity and accessibility to desirable locations is crucial for success.

Know your niche:

For millennials, you want to highlight value not price. Chances are, they know they aren’t saving as much as they’d like or that their paycheck is going to their landlord rather than their student loan holders. Successful property management marketing ideas highlight the value they are getting – despite the cost.

Since millennials are choosing to marry later in life, play up your apartment property’s sense of community and camaraderie. Talk about the convenience of having an on-site property manager to take care of (and pay for routine maintenance and upkeep). Highlight convenient month-to-month options that let millennials dream about their next job promotion to Singapore or London. Boast your building’s free wifi or cable packages that make working remotely or being an entrepreneur a breeze (working by the pool sounds pretty great to us).

Once you begin to understand a millennial’s version of the American Dream, you can begin positioning your property management marketing around those elements. Chances are, they’ll be substantially different from customers in other generations, but that doesn’t mean this market segment is less valuable. In fact, millennials make up about 36% of the housing market in the United States, making them the predominant generation in the industry.

The long and short game:

The short game for millennials is all about renting. The long game, however, appeals to their desire to buy. The economy is improving, interest rates are low, and sooner or later, millennials will begin tying the knot, having kids, and settling in to their mid-level careers.

Once you’ve proven that you understand them, they will remain loyal to you as their needs change. Some millennials will likely stay in the apartment market, opting to convert their rent to a mortgage payment on a condo or flat in the neighborhoods where they first started their careers and barely scraped by. Others will “head for the hills” – or suburbia – for a little more space and lower housing costs. As they grow, your marketing campaigns can grow with them.

Millennials are also poised to become some of the biggest buyers in the second and vacation property market. The National Association of Realtors (NAR) noted a staggering drop in the average age of vacation home purchasers. The market that used to be saturated with retirees with an average purchase age of 61 has plummeted to 43. As millennials watch their siblings turn a profit on vacation properties, and sites such as VRBO.com, HomeAway.com, and AirBnB.com make vacation rentals more accessible as a secondary source of income, millennials will flock to these opportunities as a way to – you guessed it – further harness their own financial freedom.

Millennials are very different from other generations, but understanding and marketing to them isn’t as difficult as you think. After all, everyone wants a beautiful space to come home to at the end of the day – no matter what generation you’re in.

Ready to develop a marketing strategy that resonates with your target demographic, including millennials? Contact our team of experts today to schedule a consultation!

Categories
Audience Audience Analysis Audience Segmentation Campaign Creation & Development Consumer Journey Mapping Creative & Production

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!

Categories
Audience Audience Segmentation Branding Content Marketing Conversion Optimization Creative & Production Digital Targeting Services Environments Implementation Media & Analytics Strategy & Positioning Website Development

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!