Mar 25, 2013 | Communication, Customers, Marketing, retail, Small business, Social Media
One of the foundations of mass marketing was to be able to segment your market, geographically, demographically, behaviorally, brand preferences, and so on.
In the old days of mass media, it was really the only way to target messages at those most likely to be receptive, match the media selection to the characteristics of your target market.
But what has happened in the social world of networked consumers and crowd sourced comment and content?
An acquaintance runs a wonderful patisserie in a rejuvenated inner city location. It is pricey, but the value is there, reflected in the range, artistic presentation, great service, and above all, pastries to die for. However, some of the comments on the review sites would lead to a conclusion that the products were overpriced, too fancy, and lacked character.
Standing in the queue on a Saturday morning just before Christmas, observing others, and listening to the comments, the penny dropped. Those in the queue were older, clearly successful, were regulars, and loved the place, whereas the casual buyer, the ones far more likely to leave a comment on a review site were most probably Uni students, on their way between the train station and the campus just down the road. These buyers were more liklely to want a cheap, filling, snack rather than a tasty work of art.
The lesson: Do not believe all your read on social media review sites, any more than you believe all you read in a politicians press release.
Mar 22, 2013 | Branding, Communication, Marketing, Social Media
Digital communication is now a major consideration in any marketing budget, depending on whose numbers you believe, digital may now be even bigger than “traditional” communication channels.
So how should you develop your creative and communication briefs?
- Concentrate on traditional channels and adapt for Digital?
- Focus on digital and use traditional as the adjunct?
- Split the budget and treat them separately, or consider the cart and horse to be the one integrated delivery vehicle?
Making these choices, deciding which is the horse, the one that provides the “grunt,” you need and requiring real feeding, and which is the cart, which just needs some maintanence, is the key decision. Then you need to decide how you are going to manage the processes of feeding and maintaining, as they require very different strategies and capabilities.
Traditional media is passive, one way, the objective is to disrupt to gain attention and only then deliver a message with no effective feedback mechanism.
Digital media is wholly different. It has the native capability to be two way, a “conversation,” it cannot disrupt as the initiative is with the receiver rather than the sender, the originator can micro-target to the level of individuals, and there are immediate and hugely detailed feedback loops.
All this means that the manner in which the proposition is presented is entirely different, passive, mass creative Vs a message demanding action of an individual.
When put like that, the dilemma becomes more transparent, relatively easily addressed by a few simple questions:
- Is it a commodity, mass market product, or are you building a market customer by customer?
- Are you aiming to build awareness amongst a wide market profile or engagement of a niche?
- Can you identify and target the behavioral characteristics of your target market, or just the demographic ones?
The answers to these questions will offer insight not just to which is the horse, but how much, and what it needs to be fed to deliver the optimum result.
Mar 18, 2013 | Innovation, Leadership, Management, Strategy
Well, they can’t, not without people. It is the people who think, then act to get stuff done via organisational processes. It does not matter if you are BHP, or a two person consultancy, it works the same way. Indeed, if you are a one man business, find others against whom you can test your individual thinking, and it will improve.
The essence of “thinking,” really teasing out the guts of a problem or situation is to make use of all the available data and opinions, not just those that agree with yours, not just those that rise from a similar set of assumptions, and certainly not those that lead to a semi-predetermined outcome.
People avoid conflict, it is uncomfortable, they avoid being on the outside of the crowd, but guess where all the really new stuff comes from, so the challenge in enabling organisations to think is to encourage conflict of the mind, to welcome ideas that challenge ours, and embrace the conflict.
The worst thing I have seen in 20 years of consulting on strategy, marketing and improvement is silence. It is always a strong indicator that the organisation is not thinking, but looking to the bosses to make the decisions, because they know best.
Bullshit I say, give me the friendly, heartfelt noise of active debate any time.
Mar 6, 2013 | Marketing, Strategy
Italian mathematician Vilfredo Pareto’s observations that resulted in what is now commonly known as the “80/20” rule, are well understood.
As a young marketer, Lord leverhulme’s wry observation that he knew half his advertising was wasted, he just wish he knew which half was which resonated with me. It also seemed to me that the balance of activity in the marketing departments I inhabited also fell into Pareto’s 80/20 rule, 80% of marketing was creative, and 20% was quantitative.
The last decade has turned that all on its head. We can now comprehensively measure the impact of our decisions, their cause and effect chains, and calculate an ROI, particularly in B2B. I venture that the balance has changed, and marketing is now 80% quantitative, 20% creative.
However, 20% of activity that is creative is more critical than ever, as it is the stuff that offers differentiation, an edge in the market, access to new customers and channels, a reason to engage.
Too many marketers I see are still avoiding the accountability offered by the analytical capabilities developed in the last decade, preferring to remain in the past. However, those who are really successful, the 20%, embrace the notion of accountability for their decisions, and track the returns on their marketing investments.
As a side benefit, effective use of marketing analytics offers greater profile to those seeking corporate advancement, the beanies who generally run the joint, love the numbers!
Mar 5, 2013 | Communication, Social Media
Ever wondered about the credibility gathered and built by the tweets, posts, and content created that then become used, and shared, and re-shared?
The opposite of the stone, the more something is shared, the more it gathers moss, the virtual credibility we all seek on the web.
Proximity to the source of information usually enhances the opportunity to assess its credibility, but the paradox is that the wider the electronic distribution of content, the more weight it seems to gather, irrespective of the intrinsic value of the content.
