The Value Proposition

Why should a consumer buy from you?

Competitive Advantages

What makes you better than your competition?

Choosing A Differentiation Strategy

You chose a target market, now what?

Showing posts with label Adage. Show all posts
Showing posts with label Adage. Show all posts

Monday, August 22, 2011

Are you doing anything NEW??

Jonathan Salem Baskin published an article on AdAge today that raises a fundamental "Selling 101 question": What are you doing that is NEW?

It's easy to get stuck in a rut.  Everyone creates commercials.  Banner ads...been there done that.  Facebook page?  That so...last month.  Twitter bomb?  Does anyone care anymore?  Foursquare...you get the idea.

Mr. Baskin takes a look at the retail segment during the Back To School season.  There are less consumers actually entering stores this year compared to last year.  Traditional advertising (even "creative" ads) aren't motivating customers, as evidenced by Gap's recent 2nd quarter results.  Mr. Baskin asserts that the retail segment isn't doing anything NEW to get the attention of cost conscience, value oriented, highly savvy consumers.

So let's ask the question: Are you doing anything NEW to get the attention of your existing or potential customers?  Anyone can offer a coupon...what are you doing that is unique with coupons?  Tried cause-marketing?  Frequent buyer campaigns?  Here's a better question: what aren't your competitors doing? 

Take a pen and pad out tonight.  Open up your word processor.  Pull out your iPad.  Tonight is the night.  Spend a half hour and think of some new ways to get your customer's attention.  Then do them.

Wednesday, August 10, 2011

"Post Frequenly" ... and OFTEN on Facebook

Recently, Hussein Fazal posted a piece on AdAge, presenting six, logical, fundamental steps to effective marketing through Facebook.  His third point, "Post Frequently", caught my attention.  The reason is a basic practice of effective advertising: frequency.

Let's review the basic concept behind frequency: effective frequency (note the word effective) is the number of times a person must be exposed to a message before a response (such as buying) is made and before exposure to the marketing has become wasteful economically.  There have been numerous studies on this.  Many of them have a different conclusion.  However, most seem to agree that 5-7 impressions is a bare minimum. (I'm sure some of you disagree, but work with me here)

For any medium to be used effectively, frequency must be practiced.  However, the problem is many businesses still don't give proper weight to online media in general.  They don't believe (until someone presents them with proper statistics and decent research) that marketing online CAN give you a good ROI.  The other problem is many individuals (even ad agencies and skilled consultants) tend to jump into blogging and social media with gusto, but never keep up the discipline (frequency) necessary to see an effective blogging or social media effort through.  

Here's my point:  it's easy for someone to post once a week, and then 3 times the next, and then 2 times the next...but to keep posting every week, with purpose, with a plan, takes effort.  Don't just post often, plan often.  Put together a long term plan that meets your specific goals.  This plan should cover at least a few months, if not an entire calendar year (or two if you know what your product development cycle will be).  It takes time to form a relationship with your customers, no matter what medium you are using to market to them.  Use that time to give them reasons to come back to you, buy from you, and tell others about you.  Change your content often.  Change your marketplace ads often.  Change your incentives often.

In other words...do what you are going to do, often.