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 facebook. Show all posts
Showing posts with label facebook. Show all posts

Monday, January 30, 2012

What Are You Doing To Create Awareness Today?


Did you do anything to market yourself today other than think about it?

Marketing doesn't happen by itself.  You have to do it.

People don't find out about you on their own.  They won't bring up Google and search for you unless they have a reason to do so.

So what are you doing today to create awareness?

If you need a jump start, here are some ideas that might be relevant to your customers:

1. Offer A Discount
Sometimes the easiest way to drive traffic to your website, or to retailer locations, is to offer a discount or a coupon.  However, remember that spending money can be an incredibly emotional thing.  The right price, or discount, can drive a person to spend money "easily" without any thought.  5%-10% off might not be the ticket.  Don't be afraid to explore 20%, even 30-40% off.  If you're concerned about your margins, make it a limited or exclusive offer to a select group of customers.  Once they are in the door, they tend to buy more.

2. Hold A Product Demo Event
People love to research products, and price-shop online.  But at the end of the day, a consumer that touches the product, tries it, and likes it, usually ends up buying it.  Consider putting on a demo event in a location that contains your primary customer demographic.

3. Ask For Product Testimonials Via Social Media
Social media makes it very easy to connect with your customers.  It can be a customer service haven and nightmare.  One of my favorite uses of social media is testimonials.  It's as easy as this:  Ask users of your product to submit positive experiences of your product: video is preferred, text and pictures are great as well.  Incentives are a must.  Offer discounts off of new product, or free accessories to those consumers whose testimonial you choose to post.  Post one a week for 13 weeks - the length of a typical television or radio ad buy.

4. Participate In Online Communities
This fourth option can take the most work, but it can reap some of the largest gains for building your brand's credibility.  It's as simple as joining relevant forums and blogs.  Put your name and company in your signature.  Make it clear who you are.  Offer advice and sensible solutions.  However, you cannot blatantly advertise your product in your posts.  It's best to offer sound advice that may or may not include any of your specific products.  Over time you will see a few benefits:
- Community members will see you as an expert
- Community members will begin to explore your website and your product
- All of your posts will be indexed by search engines (like Google) and it will increase the amount of searchable, relevant content about you online.

It's a good idea to put one of your best PR reps or customer service representatives in charge of online community participation.  Your Social Media Director is a great fit as well.  You can take this a step further by becoming an advertiser in that online community.  This allows you to blatantly post about your product and any specials you may be offering.

These four things are simple, yet highly effective ways to increase Brand Awareness for little cost other than labor and time.  If appropriate, and if used in a focused manner, they are a great way to connect with current and future customers, and can provide a great ROI for a little marketing budget expenditure.

Wednesday, December 21, 2011

Be Purposeful Or Else You Will Be Ignored


On Tuesday, Facebook announced that it would begin adding "Sponsored Story" ads to users' news feeds in January.  This will not happen in mobile apps yet.  This announcement is another step in Facebook's plan to monetize it's business and make it a viable advertising platform. 

If you're an advertiser, this gives you an easier way to get in front of the eyeballs of millions of Facebook users.  If you're Facebook, you just earned yourself some more ad dollars and paid a few more bills.  If you're a Facebook user, you may have another reason to ignore Facebook today.  And that's the caution to throw into the wind:  "Sponsored Stories", if overused, will quickly be ignored, and will have little to no value for any advertiser.  In fact, if Facebook isn't careful, and if you aren't as a media buyer, "Sponsored Stories" could be a huge flop.

Remember that "reach" basically is the number of individuals you want to expose your message to through any type of media scheduled over a given period of time.  For focused groups of audiences, Social Media and other online advertising provide great reach.  However, frequency is where things can go wrong.  When you're visiting a website, such as a news outlet, you expect to see ads.  You're voluntarily allowing yourself to be exposed to them.  Even if advertisements appear, we tolerate them, because we're simply using the website to consume information in an impersonal matter.

Social Media isn't impersonal, it's personal.  Frequency can quickly die off with Social Media, because when ads invade our personal "space" online, we change our usage patterns; quickly visiting a services like Facebook less, or even stopping altogether.  Once that happens, you've lost that consumer, potentially alienating them from your brand (as an advertiser), and possibly losing another revenue generating user. 

That's the slippery slope.  As an advertiser, you need to make sure not to abuse Social Media advertising.  It's users may be more receptive to your messages, but if you over "communicate" to them, too frequently, and without specific value or purpose in your message, they will quickly ignore you.  Once they ignore you, your Brand Awareness measures and credibility may start to decline as well.

Facebook needs to quickly decide how much advertising they really want to force their users to view.  If they continue to add more "ads" to people's feeds, Facebook may quickly lose users, and one of the "pot of golds" of internet advertising may cease to be.

Tuesday, September 27, 2011

Facebook helps advertisers engage their customers

I'm taking a break from my review of basic marketing fundamentals to discuss something key from the recent Facebook F8 event.

On September 23rd, Michael Lazerow published an article on Adage commenting on Facebook's Ad product evolution.  In his post, Michael comments on three key items:
  • Facebook now helps you build better connections
  • Facebook can be used to let your customers tell your product's story
  • Facebook can help you unlock the value of people
I want to comment more on these ideas.

First, the whole "point" for a business using Facebook is to connect with their customer.  Seems like a no-brainer, right?  Maybe ... but what many businesses assume is that once someone "Likes" their business, they are instantly connected, and their "Likes" will pay attention to whatever they post, even if they post nothing.  "Like" DOES NOT equate to "connecting".  Mr. Lazerow is correct when he says, "It's about what you offer them and it's clear that the company's (Facebook) focus has shifted from growth to engagement" (reference to Facebook added).

Facebook isn't about announcing another product.  It isn't about beating your chest.  It's about posting CONTENT that is relevant to your customer.  It's about GIVING them something that matters. If you sell cameras, post tutorials about photography techniques.  Give them tutorials focused on teaching them to use your product.  Post a 50% off coupon for Facebook members for camera accessories.  GIVE them something that is VALUABLE to them.  Remember when we were talking about Brand Equity in my last post?  Facebook is a great place to build brand awareness and brand equity.

Use your customers to build your brand equity.  Have them tell your product's story.  Have them show and tell others about how they have used your product.  Their voice (positive and negative) carries more clout and emotional credibility than yours ever will.  Continuing on the camera example, inviting users to post their photos from vacations with your camera allows them to share their emotional connection with your product.  Awarding prizes for the best photo taken with your camera helps to strengthen the customer's "bond" with your product and brand.  The "community" built, and the quality of photos submitted (hopefully) will build better brand equity than you could do yourself through traditional advertising via any medium.

Advertising doesn't always "reveal" the fact that your customers have value.  They don't just give you money.  They are a very real voice in the marketplace.  Make them a voice for you.  Facebook (and potentially Google+ in the future) allows you to connect and unlock their value in a way that we never had before social networking existed.  It's time for you to take advantage of it and truly engage with your customer to build your brand equity.

Credit: Adage

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.