Ask anyone – What is marketing? And you’ll get answers like advertising, social media or mobile marketing. Others, who have taken a formal marketing class, will say 4 P’s (Product, Price, Place, Promotion). This is surprising and at the root of any marketing effort that fails or provides a less than hoped results. And as anyone who has tried to market anything has learnt – marketing results tend to disappoint. Unless, the marketer is razor focussed on the customer and their perceived value.
The Coronavirus has challenged everyone globally. However, all content creators can get inspired by some popular nuggets from Mark Twain.
Go to any event and observe dressed up folks taking selfies. Or folks asking someone else to take a picture for them. Also observe how younger people are examining the background- i.e. the photo frame. The purpose of those photos is not to take a print and make an album. But to post on instagram!Continue reading “Is your business Instagram ready? Lessons for “foot traffic” marketers on main street”
It is sad to see that Forever 21 filed for bankruptcy. Their backstory is fascinating and the 5 minute video backstory of Korean immigrants achieving the “American Dream” by Business Insider is worth watching.
Unlike the typical sad “decline of US malls” story and rise of “online retail” the Forever 21 story has important lessons for all businesses. It is also an eerie reminder of the the New Coke fiasco, To recap, Coca Cola did not realize in the eighties that customers did not drink Coke for taste but it was all about being American – a much deeper meaning.
The days of information asymmetry are over. Information is no longer power. And Google and other search engines are just getting started. The notion of the used car salesman trying to sell a “lemon” is a relic of the pre-internet era. Today, the entire history of a used car is available to consumers through servicesContinue reading “Educating the customer is a central task for marketers”
The Trump (@realDonaldTrump) effect in Marketing and Supply Chain is that CEO’s worldwide will take more interest in the operational decisions in marketing and supply chain. While Chief Marketing Officers (CMO’s) being rainmakers have more visibility in organizations, the supply chain folks tend to be sidelined. The CSO (Chief Supply Officer/Head of Procurement/Purchasing) typically reportsContinue reading “Trump Effect: Five reasons why CEO’s will become more involved in Marketing and Supply Chain”
It’s useful to think about paid web advertising (eg.Google AdWords, Facebook advertising) as Brand Building vs. e-Commerce: Brand Building: Brand building is more at the upper end of the sales funnel. The purpose of the advertising is to build awareness and inform the potential customer in the target market. A great way to understand howContinue reading “Why web advertising for e-Commerce is different from Brand Building”
Our readers ask How much do I spend on Google AdWords? An earlier post provided the strategy answer and this post presents three questions to ask for coming to a better decision. Here are the questions to ask: What were your inquiries before AdWords? Before AdWords you were getting inquiries. These inquiries could be fromContinue reading “3 questions to ask and decide how much to spend on Google AdWords”
Businesses large and small seem scared of putting out their market research on their websites. Common concerns we have heard are: Our competitors will know how we think about the market Our market insights are our “secret” – sauce- why share the recipe And the one we like best: Speech is silvery but silence isContinue reading “Why its safe to put out most of your market research as web content”
Talking to businesses who sell complex expensive technological systems, we find an amazing expectation: That the customer will search online – see your ad, click, land on your contact page and “voila” you get a phone call or email. Resulting in a $250,000 order off course. This is like saying that every first date fromContinue reading “Comparing the first date with the sales funnel stages”