Help your Customers to Choose

Although Thanksgiving is not yet upon us, the holidays are officially here.  Stores have decked their halls, and shelves overflow.  There are so many things to choose from, how do we even start?

Marketing asks a consumer to make choices, often a difficult task for people.  We employ a host of techniques: research, feedback, analysis of competition products as well as our own product line.  Does this work make it easier for the consumer to choose?

Sheena Iyengar, a psycho-economist, has fascinating insight into the process of consumer choice.  Wattime well spent in avoiding the mistake of over-complicating the process, and stressing the consumer.

Enjoy!
Laura

Marketing Video Mistakes ~how to avoid them

Make a marketing video....

I know this sounds silly, as that is the whole point, right?  Too many businesses make videos with:

~no purpose

~no objective

~no strategy

Don't make a video purely to jump on a marketing bandwagon.

but not a movie...

Less is more.  According to the marketing video producer, Michael Mogill, the 60-90 second range is best.

focused...

Since you will have limited time to engage your audience, so

~stick to a single priority sales or branding point

~get that message out first, then support with specific facts

~and be clear on what action viewers should take next.

 on business...

Remember the purpose of any marketing endeavor: to clearly define the benefits your business  can provide to the target audience for this video.  Prominently display your logo, website URL and other branding identifiers.

and quality.

An amateurish video will only degrade the quality of your work within the minds of your prospective customers.  Attention to details and good planning (throughout the process) will result in a video that will help, not hinder, your marketing endeavor.

(Don't forget.... you will need to market the video itself, it will not simply jump onto screens!)

Brand Loyalty

Creating Brand Loyalty

Have you even wondered what makes you return again and again to the same product or service provider?  I am sure you have heard the term "Brand Loyalty."  But, what is it?

Brand loyalty is defined as the faithfulness of customers to specific brands.  This is demonstrated by their purchasing the same products over and over, regardless of marketing pressure from competing brands. Brand loyalty is more than a consumer's choice to return to the same brand, it is also the perceived value, trust, satisfaction and commitment that influence their decisions.

Benefits of brand loyalty are a longer relationship with customers with less expense of constantly trying to convert customers to your service or product and a lower sensitivity to price.  If customers have a good experiences with your product or service, they will demonstrate their appreciation by coming back for more as well as encouraging others to join them in support of your product or service.

There are four patterns of behavior associated with brand loyalty:

1. Hardcore loyalty, people that will not change, no matter what incentives are offered to sway their decisions.  These are the easiest to market to.  You can keep them happy and returning to your product by adding just a little additional incentive.
2. Split loyalty, where people have two or three brands that they prefer over all others and those are the ones they make their decisions between.  This is a little easier to market to than shifting loyalty and switchers as they are committed to fewer brands. You still need to keep them engaged in your brand though.
3. Shifting loyalty includes people that move from one brand to another, depending on what is available at the time, the price incentives or other marketing enticements.  This type of consumer is difficult to market to and increases your marketing costs because your marketing always needs to be fresh and in front of your competitors.  These people are generally price driven.  It is not about the value of the product or service.
4. Switchers, those that have no loyalty whatsoever.  These are the most costly and hardest to market to as they are not prone to stick with a brand.  They are constantly searching, usually for the best deals to be found in the market or they like to try new and different products

Read on and watch the attached video for answers to this and how to create brand loyalty for your own product or service.

Branding is a unique set of values that induce confidence, create passion and a sense of belonging and security that brings consumers to buy your product or request your services.  The idea originated in ownership, for instance, branding cattle, so others know what belongs to you and you have proof of ownership.

Then, the practice of putting business or personal names on items was initiated.

The brand name for Coca-Cola was worth an estimated $70.4 Billion dollars in 2010. Beginning in 1886, Cocoa-Cola began working on building their brand.  From 9 bottles sold in 1886 to over 1.6 Billion in the year of 2010, they are one company that demonstrates their success in and the value of branding. Yes, they have had a few failures along the way, but they learn from their mistakes and keep on going.

Today, Coca-Cola is a global company with their product placement in over 200 countries where they market over 3,500 products.  Perhaps it is easier to list the countries where Coca-Cola does not have a presence.  In 2012, that would include Myanmar and North Korea as well as Cuba where they liquidated 1960 after the Cuban Revolution.

Some companies get upset when their brand name is used as a verb, for instance Xerox.  It would seem that would be a complement and appreciated with open arms because it is on everyone's lips, an almost constant reminder of your product.

So, what happens if you make an error in marketing to your hardcore, or even split loyalty customers?  Do as Coca-Cola and other top marketeers have shown us.  Stop, look at what happened and take a step or two back.  Go back to what works and don't let your ego get in the way.  Consumers know what they like and want.  You have to follow their lead sometimes. This isn't about you, it is about successfully creating and retaining your customers. This can be true whether you are branding your company or yourself as an individual.  Yes, that is important too.  Think about it.

by Karen Boggs

CRM Turns Social

Did you know that Americans will spend 9% more with companies that provide excellent customer service?

Most companies are aware that great customer service is at the heart of their business success. Yet, many fail to implement customer service initiatives that optimize customer engagement and interactions.

Online consumer behavior is rapidly changing. With the explosion of social media and the ability to fast forward TV commercials, companies now face a mammoth task of keeping up with ever changing trends to connect with customers and build long-lasting relationships. Customers nowadays want quick and efficient responses to their problems. You, as a business, need to join in the conversations on social media and build up customer loyalty and trust.

And that is where Social CRM comes in. Social CRM is the new frontier in Customer Relationship Management (CRM). Social CRM is not the replacement of CRM. It is in fact an extension of your current CRM with the ability of engaging in customer conversations on social media.

(Source: sCRM evolution)

Traditional CRM is based around customer data and information collected. It is a company-centric process where companies use collected data to better target and service customers. Social CRM, on the other hand, regards customers as a focal point and all marketing activities revolve around them. Social CRM allows you to engage and collaborate with customers to solve problems and turn fans and followers into advocates. When executed properly, Social CRM increases trust and makes companies more personable. And happier customers mean better bottom lines.

Here are a few excellent examples of how some big name companies use Twitter to engage with their customers, address any issues, and deliver great customer services:

You can enlist the help of Social CRM tools such as Salesforce or Nimble to get access to a comprehensive database of customers or prospective customers and start engaging in conversations. These Social CRM tools can automatically pull together all contacts, any activities, and any mentions from all your social media accounts: Facebook, Twitter, Gmail, LinkedIn, etc. and store them all into a single company record. When you pull up a customer's record, you have access to a vast array of information about this particular customer across all social media platforms.

Here are some helpful tips for you to implement Social CRM initiatives at your company:

• Locate your customers on social media: Some customers may be more active on one social media site than others. Find out which social media sites your target customers frequent and engage with them.
• Gather feedback and adjust strategies: Suss out what customers are talking about your products or services. You have full access to customer reviews and complaints, so you can provide swift responses to any concerns and issues. Follow conversations and gain better insights to customers' online behavior.
• Identify new opportunities and gain fresh ideas: Join in conversations with customers on social media channels and listen to their ideas and suggestions. You might just pick up new, fresh ideas that can massively improve your products or services.

So there you have it. Get a start on your Social CRM campaign today and you will be on your way to gain tons of happy customers!

May Mandy Han

Trust and Reputation

The whole purpose of correcting (or better yet, avoiding) internet marketing mistakes is to increase your credibility and reputation online, thereby increasing your consumer's willingness to trust in your company, your product or service.  Without trust, there is no sale.  That trust must be established before the consumer is willing to part with their hard-earned money, their precious time, or their personal data, depending upon what you are asking the consumer to do. 

There is no magic formula to create an atmosphere of trust between your firm and the general public.  There are a myriad of techniques and theories surrounding the subject.  One of the best descriptions of how trust works online is from a presentation by Rachel Botsman, entitled "The currency of the new economy is trust."

A very worthwhile view, enjoy!

E-Marketing Communication

Crowdsource Your Way to the Top

Think crowdsourcing is just another marketing fad at your peril. Especially with the incredible rise of social media, crowdsourcing is now made easier than ever.

So what is crowdsourcing?

 Crowdsourcing is a combination of two words: crowd and outsourcing. It is a process of canvassing a large crowd of people for ideas, skills, or participation.(Source:Daily Crowdsource)



Wikipedia is the perfect example of a crowdsourcing success. Instead of having writers and developers to create an online encyclopedia, Wikipedia enlists the help of people like you and me to build a comprehensive encyclopedia on the Internet.

Many businesses fail to recognize the potential of crowdsourcing. Each year, millions of dollars are spent on hiring industry experts, market analysts, and management consultants for new product/service ideas. Perhaps those businesses could reach out to people who actually care about products or services: customers. Getting to know your customers and listening to their ideas and suggestions may be what you need to take your business to the next level of success. Gone are the days of hoarding information and knowledge. Now, a collective insight of a large number of individuals provide diversity with people from different skills and backgrounds offering varied perspectives.

Starbucks does crowdsourcing so well with My Starbucks Idea. Starbucks turn to their own customers and encourage them to share ideas and join the discussion about other people's ideas. Starbucks believes that their customers know best about what they want from the company and works diligently to turn customers' ideas into action.

Dell is another company that utilizes crowdsourcing for new ideas with IdeaStorm campaign. Dell actively engage with customers and fish for inspiring fresh ideas in order for the company to offer consistently solid products and services. So far, Dell has seen through over 500 of these ideas successfully implemented.

Not every idea is a good idea. People's creative inputs need to be reviewed extensively before they can be implemented.

Here are a few tips for you to perfectly execute your crowdsourcing campaign...

• Identify your goals: Know exactly what you want out of crowdsourcing. Are you looking for new product ideas or are you gathering feedback on your marketing campaign? 
• Be specific: Be very clear in your brief and provide specific guidelines. Asking the right question is the key to the success of crowdsourcing. For example, instead of asking "What is your new idea to improve our moisturizer?", you could ask " What is considered most important to you: a moisturizer that fights acne or one that corrects dark spots?".
• Do not get overwhelmed: Be prepared to be bombarded by ideas and develop strategies to be able to cut through clutter to pick the best entry out of a sea of best entries.
• Leverage your media platforms: Utilize various social media platforms: Twitter, Facebook, and YouTube to reach as many people as possible to tap into their brains.

According to the founder of the term "Crowdsourcing", Jeff Howe,

" Crowdsourcing is the process by which the power of the many can be leveraged to accomplish feats that were once the province of a specialized few."

And you know as they say,

"It is a fact that in the right formation, the lifting power of many wings can achieve twice the distance of any bird flying alone".

 Use the wisdom of the crowd to see your business flourish.

May Mandy Han 

How to Win an Insta-Grammy

Instagram is an online mobile way for people to share their lives with friends and family, through pictures and videos. This social networking site allows these pictures and videos to be shared on other social media platforms such as Facebook, Twitter, Tumblr, and Flickr. The app which was originally founded by two Stanford Graduates, is now owned by Facebook. Since its inception, Instagram has more than 150 million monthly active users which include celebrity users, brand users, and consumer users.

Are you using Instagram? If so are you using it to its full capacity? What message do your pictures and videos convey to the consumer ? What does it say about your brand?

How to Win an Insta-Grammy

Second Chance Solutions goal is to assist companies in reaching their marketing objectives in all social media categories, this is no different when discussing Instagram.  Instagram provides a unique opportunity to capture consumers through imagery.

1. Be True to Your Brand

Clearly define your brand personality and voice without overly serious content. Use Trends from the Instagram to reflect your companies creativity.  @tacobell captured the Christmas trend on Instagram, while reflecting on their famous taco sauce.

2. Share Experiences

Allow your followers access to the lifestyle that your brand creates through consumers who use your products and or services. Take @nikontop for example, their images and videos shared prompt followers to speculate what moments they could capture with this product.

 

3. Find Beauty in All Things

Demonstrate how your company views the world, and make it meaningful to your audience. @intel is demonstrating the advancements and studies their computing hardware is making to advance air travel for the convenience of the consumer.

4.  Inspire Action

Begin a movement around your brand, this could be inspiring people to become active with your brand, or  celebrating something with your brand. @nike does a spectacular job for inspiring action for example their #runfree, #justdoit, #findgreatness, #nikewomen, or many other campaigns they are inspiring a variety of movements.

 

5. Know your Audience

Possibly the most important, learn what consumers enjoy about your brand. What gravitates them to it, and discover how you can capture new consumers.
@starbucks takes the social trend of Starbucks coffee and emphasizes on continuing the trend amongst new consumers.



 

 

 

 

Win Your Insta-Grammy With Second Chance Solutions!

 

 

Brieanna

 



Actions Speak Louder than Words

Simple, courtly gestures speak louder than words.

A courtly gesture, one that is a basic tradition of one culture sparked a debate at the recent Asian-Pacific Summit held in Beijing, according to a recent article by Reuters.  Noticing that the Chinese president's wife was chilled and their host was otherwise engaged, Vladimir Putin placed a shawl around the shoulders of the Host's wife.  

This is an example demonstrating cultural differences and what is considered acceptable behavior in public.

China suppressed all images of this courtly gesture.  In my opinion, it is an admirable gesture by the head of Russia that could have been seen in a more positive light by the head of China instead of in a derogatory light.  

Chinese officials try to portray President Xi and his wife as a loving couple with photos showing him shielding his wife from rain with an umbrella, or picking flowers for her, or a simple gesture like holding her hand.  I guess having another world leader attending to his wife's comfort did not look good for the host.

This can be true in personal impressions, when marketing yourself, or impressions of customer service for your company.  Culture can play a big role and it is important to respect the culture of others, as well as garnering their respect for your culture.  It is a difficult line to walk but it is also important to understand when marketing in our global oriented economy.

How would you suggest this situation be handled both on Mr. Putin's and Xi's behalf?  How can they take a second chance to make a first impression?  Your input is welcome.  Join the conversation.


by Karen Boggs

How NOT to market a new product / service ~DELUSION

DELUSION

One of the many mistakes common to the marketing of a new product has to do with the perception of the company.  You may think a product serves a specific purpose, but the world does not agree with you.    There are two ways this usually happens, over-promise the product or service’s benefits and then (inevitably) under-deliver, or conversely weakly market due to an overly constrained market and miss penetrating the larger (and more accurate) consumer base.  

The first of these situations is the most common.  Think of a product you have seen advertised that promises to solve all of you (specific type of) problem.  This is the marketing version of selling snake oil.  There is no single cooking gadget that will replace the rest of your kitchen.  There is no phone, prescription, pair of jeans or shoes, idea or social media site that will make everyone happy for all time.  Sorry, there is no ring to rule them all.  Don’t fall into the trap of overselling.   You will only regret it later.  It is close to impossible to undo that kind of mistake. 

Another form of delusion can come on the back of the public’s overwhelming support.  Before you consider this the best kind of problem to have, consider Kentucky Fried Chicken’s initial marketing of their grilled chicken.  A brilliant idea was hatched (I sincerely have to give someone credit for this) to offer a coupon for a complete grilled two-piece meal, for free.  Not the mistake.  The mistake wasn’t in advertising the deal on the Oprah Winfrey Show, either.  The problem arose when the masses of people began to arrive, all expecting chicken, and the stores were completely wiped out.  Although you may believe that throngs of people demanding your product is amazing, be realistic in your ability to keep your promises before throwing it out to the world.

Now the flip side:  

 

There is an equal amount of danger in being too conservative.  Think about the development and marketing of two household products (these I can almost guarantee you have in your home and/or office) Post-it notes and Scotch Tape.  They are such successful products; we as a consumer base have made these brand names synonymous with the product and manufacturers.  It does not 

matter what brand of 

invisible tape you purchase,

in your mind, it is probably 

all “Scotch” tape.

 

Knowing the current marketing of these products, it is hard to believe that these products had very humble beginnings.  Invisible tape was created to aid one specific customer, to seal insulation in airtight packaging.  Post-it notes were developed internally, by a division manager to use as a bookmark.  Since 3M did not plan to create such powerhouse products, instead 3M was not even sure where the market was for these products.  Fortunately for all of us (and Christmas, too) they eventually figured out the mass of the products they had on their hands.

As I said in the beginning, developing the next product is a tough job and convincing the consumer that they want or need to buy is even tougher.  Do not shoot your product or service in the foot before it has a chance to flourish or fail.  Go cautiously, planning thoroughly but be flexible during implementation.   Listen to your experts, your customers, each and every step of the way.  Finally, do not allow your vision to be clouded by ego or fear.  

Laura McCormack