Feb 18, 2013 | Branding, Communication, Marketing, Strategy
Marketers are becoming increasingly sophisticated in the ways they leverage understanding of how the brain works to build competitive advantage.
20 years ago most marketing positioning, segmentation and communication was based around demographic factors, but we have been increasingly understanding the linkages between a whole range of factors and individual behavior in a rang of circumstances as we have been able to collect and analyse data. This understanding has evolved to the point where the old fashioned demographic segmentation and positioning now looks like a Model T in the 2012 Paris motor show.
The evolving marketing skill is understanding how the brain works in order to gain commercial advantage, work that is based on academic medical research. But this research is just conforming what good marketers have known for some time, albeit intuitively. Simon Sinek’s simple “Why What How” presentation that has garnered almost 10 million YouTube views is just a marketers interpretation of Neuromarketing being applied.
Feb 16, 2013 | Branding, Communication, Marketing, Small business, Social Media
I opined previously that it appeared to me that Facebook had cracked the challenge of monetising their site by applying semantic search to their billion users and their networks with the introduction of the “Graph Search” feature.
This post on the Social Media Examiner site goes into some detail about the way Graph search works, and when you think about it a bit, the value is huge to marketers, as it offers highly targeted search capabilities.
I am a tennis player, a member of a local club that has the almost unique distinctions of retaining its grass courts, being a century old, and having many truly great players as former members. Funding the maintanence of the grass is an ongoing challenge, one that threatens the future of the club as membership declines with the lessening popularity of tennis, and the changing demographics of the local area.
There are a series of semantic searches I, and my fellow club members (assuming they use facebook, which many do not), can now easily undertake. Using these connections, through the “friends” networks, we can identify potential visitors and members, and market to those “friends” networks the joy of the game on grass, (particularly on a hot day), the value of membership based on the availability of grass, the heritage of the club, and the social aspects of the great game. The searches would look something like this:
Friends: who like tennis,
who like tennis and live in the Sydney inner west,
who like playing tennis on grass,
who would like to try playing tennis on grass,
and so on.
As those searches are employed, ads by sellers of tennis equipment, marketers of sporting brands, tennis coaches, even lawn care equipment would benefit from the highly targeted, and empathetic environment.
Potentially a gold-mine for marketers, as the value of Graph search to those networked on facebook is substantial. Suddenly Facebook looks like it has the potential to pay a dividend to those donkeys who got sucked in by the IPO, and did not get out fast enough, unlike young Mr. Zuckerberg.
Feb 14, 2013 | Branding, Communication, Marketing, Social Media
20 years ago you could block book advertising across three TV channels, a few newspapers, and radio stations, and be pretty sure you would catch almost everybody.
Not now.
No matter how much you spend, you simply cannot block book all the channels that now attract our attention. The last 20 years has created communication channels inconceivable a generation ago.
Like time, attention is a non renewable resource, there is only so much of it, and unlike 20 years ago, there are almost infinite opportunities for us to spend our attention.
Marketers therefore have to reverse the order in which they approach gaining your valuable attention, as no longer can they easily access mass attention by intrruption. Now they have to earn the right to communicate, person by person, as just turning up and interrupting you will not work. Even if we happen to be there to be interrupted, we will ignore you without a very good reason to give you some of our valuable attention.
Feb 8, 2013 | Branding, Small business, Social Media
Like most bloggers, I watch how many people visit this site, how many pages they access, how long they stay, and how many “likes” the posts get, and it feels good when the numbers go up.
However, these superficial measures do not really mean much.
What make the real difference is how much I write gets amplified, by reposting, commenting, and the number of click-throughs to the links included that occurs.
“Likes” are generally just passers-by, casual visitors, or “like-counters” who want you to reciprocate and “like” their site, when what you want is engagement, people who are touched or motivated in some way by the posts.
I would rather have one of those engaged visitors than 10 who just visit and leave. In Australia, there is an old expression, ‘Wombat”. Calling somebody a “wombat” is rarely complimentary, as a wombat is a slow, sometimes destructive native animal that eats roots and leaves, not complimentary when you add comma’s. Most visitors to your site that just tick the “like” button without thinking about what you have written, often not even reading it, are just “wombats”
Jan 24, 2013 | Branding, Marketing
“Graph Search” may offer the potential of a financial bonus to the beleagured facebook shareholders sucked in by the IPO hype, I suspect it is, but what were they thinking when they dreamt up the name?
A brand is supposed to convey a promise, be a memorable badge for the product, and in the case of a sub brand, add to the whole. Writing this post, and the one a few days ago, I had to return to the facebook page several times to remember what the silly thing is called.
Graphs?
Greater?
Giraffe?
“Grape search” (cab sav anyone)
I know that to insiders, a “graph” is a metaphor for the map of a persons networks, a diagram that represent all the friends, comments, reviews, updates, and connections, but not everybody is an insider.
Perhaps they shoul have snuck down the road and thrown some money at the branding boys at Apple, they seem to know what they are doing.
Jan 17, 2013 | Branding, Communication, Social Media
The value of Facebook has tanked since the IPO last year, largely because after the hype, people wondered how the returns would be delivered when the obvious source, advertising, does not really work on Facebook.
However, Facebook is in the throes of launching an extensively re-engineered search facility, “Graph Search“. This facility will enable placement of extremely focused advertising in situations where the search being conducted is for things other than friendly e-conversation. This change potentially removes the barrier to successful adverting on Facebook, the disinterest in anything commercial when interacting with friends.
This Wired article on Graph Search offers detail, but essentially, the new search facility reflects peoples networks as a graph, or network chart, and the search capability can interrogate the network, and answer questions, with extensive auto-complete suggestions based on your previous activity.
Google cannot get at the data held by Facebook, that is a huge resource of people, networks, preferences, links, and reviews that can now be leveraged in searches conducted from within the Facebook community.
Similarly, the power of Linkedin is the connections between people and their work. Want to see who is connected to someone at a competitor, supplier, potential customer, and so on? now Facebook will be able to do it, perhaps better than Linkedin, particularly for the under 35’s.
An underutilised aspect of Twitter is the search capability, when used well, it is an enormously valuable addition to a Google search, and contains links that enable a deeper dive from any starting point in a topic. Other services like Pinterest also now chase the available advertising dollars, making media choices a complex nightmare.
Graph Search makes the battle for on line advertising even more interesting, and will add some extra lead into the saddlebags of newspapers as they try to monetarise their offerings. News Corp is in the middle of splitting their operations, separating newspaper film and television assets globally, restructuring to enhance revenue generation options, already having paywalls in place for their newspapers. Fairfax is expected to introduce some level of paywall sometime in the next few months in an effort to stem the bleeding.
As the search capabilities improve, and paywalls emerge, the attraction of free sources of information will increase, with the minor irritation of the presence of advertising. Facebook now appears to not only to be in a position to cash in on their huge network, but to potentially extensively disrupt the current web and remaining legacy media advertising options.
