Tag Archives: marketing

October 14, 2013 · 9:11 am

Contemporary Digital Marketing Channels

Also available here: http://www.business2community.com/digital-marketing/contemporary-digital-marketing-channels-0683485

The new face of marketing is continuously evolving as businesses employ new technologies to satisfy customers’ needs and wants. Nowadays, print and media marketing are usually complemented by social media channels. There are many businesses who are investing time and effort on reaching their customers through Facebook, Twitter and Linkedin. It may appear that digital marketing is shifting its focus on content and this recent development is not so surprising. After all, marketing and promotion have always relied on visual and interactive media such as TV ads, video clips and billboards. To remain competitive businesses often resort to new resources and technologies.  This contribution is putting forward some of the latest digital marketing tactics which are helping to raise awareness of businesses’ products or service offerings;

tree

Infographics combine both information and graphics where inspiring ideas are presented in a relatively small space on web pages. These type of media which look like posters, feature relevant, top-quality content. They have to be as creative as possible. Of course, if corporate websites contain wrong infographics with erroneous data and / or misleading information, then it will backfire and will lead to negative results.  In this case businesses can possibly risk losing their positioning for their lack of professionalism. Therefore, infographics must be original and based on accurate data and content. Businesses need to communicate interesting yet informative stories in their content marketing. The idea is to create content that others like and will want to share through different social media. Therefore, the visuals need to be as vivid and colourful as possible.

Similarly, short video clips are gaining momentum among customers. Marketeers are increasingly uploading short, fun videos which often turn viral on Youtube.  It transpires that many businesses are coming up with innovative ways to engage with their consumers. Social video-sharing sites provide an opportunity for businesses to reach out to particular segments, such as teenagers and adolescents. Interestingly, sites like Vine, Vimeo, Daily Motion and more are catching up with a core group of users because of their ease of use.

In this day and age, consumers themselves are quickly becoming ambassadors for businesses’ products and services. For instance, Trip Advisor and Yelp offer trusted advice, opinions and reviews from real customers. Very often, customers are posting their pictures and experiences associated with products and brands on Instagram and Pinterest. Customers’ are often invited or rather pushed to share facebook statuses / tweets about business offers and deals as a requirement to take part in competitions. Businesses and customers alike have also learned how to use the hashtag (#) to enhance the visibility of their posting.

Numerous businesses are re-targeting their existing customers through email marketing. These businesses often deliver ads according to their customers’ interests. Such targeting is usually based on items customers have previously purchased or viewed. Alternatively, businesses may advertise and promote complementary products of previous purchases of individual customers. These efforts may turn out to be quite effective. Needless to say that consumers are becoming acquainted to ads on internet sites for the very same products and services they may have viewed elsewhere. Businesses are quickly recognising the benefits of re-targeting customers via e-mail. This trend is particularly beneficial if customers have developed an on-going, trustworthy relationship with the business per se. Hopefully, businesses are seen as helping customers, rather than invading their privacy.

Savvy marketers are quickly realising that they have to differentiate themselves than competitors. Indeed, businesses can achieve an advantage relative to others, if they offer unique selling propositions for their customers. This will be facilitated further if they enhance their presence on internet search results. Business have to find ways to get their ad message delivered to their customers. Conventional and digital marketing communications as well as search engine optimisation tools help to keep existing customers and attract new ones.

Today everyone is keeping up with multiple social media networks. Marketers are challenged to find new ways to leverage their business by creating fluidity between these ‘new’ channels. This cross-channel promotion can possibly include traditional print, media advertising, sales promotion and direct marketing if they want to reach many customer segments. Inevitably, businesses have to learn to incorporate social media into their marketing campaigns. This article posits how successful businesses and brands are making interactions with digital marketing in their strategic communications. Businesses are stepping in with their commitment to embrace social media. Shrewd marketers are the ones who are able to find new, innovative ways to get their messages across to customer bases. At the same time, it is important to keep customers engaged and satisfied with their offering.

Leave a comment

Filed under Marketing

Tagged as , , , ,

September 14, 2013 · 8:47 am

Unleashing Shared Value through Content Marketing

sv

Companies have to deal with different stakeholders’ opinions, attitudes and perceptions about their behaviour. They need to strike a balance in satisfying numerous stakeholders’ expectations. Businesses can’t please everyone. However, they should try to engage in fruitful and collaborative working relationships with external stakeholders, as dialogue often leads to improvements in mutual trust and understanding. Continuous communication also translates to benefits for the businesses’ reputation, its brand image, customer loyalty and investor confidence. Companies cannot afford to overstate or misrepresent their Corporate Responsibility (CR) initiatives. Although, they often manage to control their internal communication paths, it is much harder to control external media. As a result, it has never been more necessary to turn the businesses’ stakeholders into potential advocates for both the cause and the company. This can happen if CR realms are a good fit for the businesses’ mission and vision. It is advisable that CR communications reflect the ethos of the practicing organisations. Therefore CR (and sustainability) reporting should be clear in their intentions, with specific and relevant information featuring the companies’ credentials, and how stakeholders will benefit.

CR behaviour is directed at the organisations’ stakeholders comprising human resources, suppliers, customers and the community at large. Well laid down policies and initiatives are usually communicated through formal statements in annual reports as well as through corporate websites. CR reporting cover areas like training and development opportunities for employees, employee consultation and dialogue, health, safety and security issues and also measures for work-life balance. Apparently, business organisations are increasingly pledging their commitment for more innovative environmental investments. For instance, energy and water conservation, waste minimisation and recycling, pollution prevention, environmental protection as well as sustainable transport options. These sustainable practices bring strategic benefits such as operational efficiencies and cost savings. Several empirical studies (including mine) have indicated that discretionary investments in CR, whether they are driven from  strategic intents or from ‘posturing behaviours’ often result in improved relationships with internal and external stakeholders. The rationale for societal engagement is to anticipate third party pressures, lower the criticisms from the public and to minimise legal cases through compliance with regulations.  

CR should not be merely presented as goodwill or as a philanthropic venture. It should be featured as a realistic business case for stakeholders. This shared value proposition requires particular areas of focus within the businesses’ context. Yet, at the same time it looks after the society’s wellbeing. This notion contributes towards sustainability by addressing societal and community deficits. Presumably, shared value can be sustained only if there is a genuine commitment to organisational learning, and if there is a genuine willingness to forge relationships with key stakeholders, including customers and employees. Free publicity and informal word of mouth can either bring supportive or damaging effects. There is scope for businesses to foster strong relationships with particular community and marketplace beneficiaries. Such stakeholders can possibly serve as a buffer against potentially negative and harmful reviews. Recently, companies are increasingly focusing their attention on content and inbound marketing. In a nutshell, content marketing necessitates an integrated marketing approach through different channels of communication with stakeholders. This has to be carried out at all times. Many local businesses are becoming proficient in their customer engagement. They realise that this marketing approach brings customer loyalty, particularly if the business is delivering consistent, ongoing business propositions. In a similar vein, inbound marketing tactics also draw customers to businesses. Successful businesses are continuously coming up with informative yet interesting, original content through innovative marketing and interactive methods such as blogs, podcasts and social media networking, enewsletters et cetera. Online content comprise refreshing information which tell stakeholders how to connect the dots. It goes without saying that corporate internet sites are serving their purpose. The general public is continuously presented a better picture of the companies’ communications; containing the latest news, elements of the marketing mix endeavours and marketing fads. It transpires that content marketing has become a valuable tool for CR communications. Businesses who make use of the right content to explain their CR behaviours will gain a competitive advantage relative to others. On the other hand, stakeholders have become acquainted with businesses communicating their motives and rationale behind CR programmes. CR practices provide a good opportunity for businesses to raise their profile through their laudable behaviours.

At times, businesses can obtain decent coverage by third parties, especially media enterprises who are renowned for their sense of objectivity. Strategic communications help to improve the corporate image of firms, leading to reputational benefits and rapports of trust with stakeholders. This short contribution suggests that content and inbound marketing can be successfully employed for CR communications and to enhance customer and employee engagements.

DrMarkCamilleri.com

Google News

Times of Malta

1 Comment

Filed under Corporate Sustainability and Responsibility, Marketing, SMEs

Tagged as , , , , , , , , , ,

July 20, 2013 · 7:37 am

The business case for digital marketing

index

Entrepreneurs are regularly engaging with customers through digital marketing applications. Corporate businesses’ sites are enabling interactive information sharing, inter-operability, user-centred design and collaboration. Some are even allowing customers to interact and collaborate with each other in social media networks, blogs, wikis, video sharing sites, hosted services and web applications. The companies that are embracing such innovations will be those that will be successful in leveraging themselves against competition. They will be rewarded by the marketplace, as a result. Multichannel communications particularly through mobile technologies reach customers in a timely, relevant, personal and cost-effective manner. Therefore, digital marketing comprises a set of tools that allows people to enhance their social and business connections as they can share information and collaborate together on projects online. Millions of people have increasingly become familiar with blogs, wikis, social-networking sites and other online communities. A growing number of marketers are active on social media including Facebook, Linkedin or Twitter. They use these networking sites to collaborate with consumers on product development, service enhancement and promotion. Not all entrepreneurs are well versed in information-communications technologies, yet some are becoming quite successful in consumer engagement. Nowadays, it is relatively easy to build your own web page through blog sites like wordpress, blogger or posterous to name a few. The tools of production (e.g. content editing software and blogging tools) are widely available and are very user-friendly. In addition, customers have become increasingly acquainted with the marketing tools of distribution (e.g.amazon, ebay, itunes and the like).

These days, marketing is all about keeping and maintaining a two-way relationship with consumers. Digital marketing tools are a powerful way to do that. A growing number of businesses are learning how to collaborate with consumers about product development, service enhancement and promotion. Successful companies get consumers involved in all aspects of marketing. They listen to and join online conversations about products outside of their sites, as they value customers’ opinions and perceptions. Many businesses use web 2.0 tools to forge collaborative relationships with business partners including customers in their value chain. Their employees are often involved in this process. Moreover, it seems that customers are willing to participate by giving their feedback. For instance, consumers can possibly provide invaluable insight during the research and development phase of a product. In a sense, customers may help companies to improve on their existing product or service offering. The firms who respond quickly to their customers’ pleas will inevitably lead in customer satisfaction and retention. Apparently, consumers trust each other’s opinions more than a company’s marketing pitch. It goes without saying that there is no shortage of opinions online. For instance, blog sites like digg and delicious are continuously tracking the most popular topics on the web. Such blogs often feature the latest buzz about new product propositions. Commentators can often help to generate favourable remarks and positive reviews – which are always beneficial for businesses’ reputation. This may result in free publicity for brand awareness. Blogs, wikis and online communities are among the tools that companies are increasingly using for marketing, but there are other ways to reach consumers. For instance, many companies are resorting to instant messaging on their web sites, where shoppers can chat online with customer-service representatives.

Arguably, web sites and blogs can provide invaluable support to businesses in their endeavours to attract new customers. Yet, the businesses’ corporate image can easily become tainted with negative reviews (and comments) at some point in time. It is important for businesses to address and recover from such poor feedback. This contribution suggests that digital marketing tools can possibly be used to reinforce existing promotional strategies. These tools complement quite well with conventional advertising tactics as they raise awareness of the company’s presence. Needless to say that social media networks are used by millions of customers every day. Similarly, entrepreneurs can write numerous blogs to remind customers of their products or brands. However, the successful businesses are the ones who are capable of forging relationships with customers through digital marketing tools, including social media. Perhaps, consumers ought to be involved in marketing and selling activities; from product development to after-sales feedback. Companies can gain sustainable competitive advantages only if they value consumers’ opinions on various aspects of the marketing mix (including product, pricing and distribution preferences). In Kotler’s own words, “the marketing organisation will have to redefine its role from managing customer interactions to integrating and managing all the company’s customer-facing processes”.

1 Comment

Filed under Marketing

Tagged as , ,

July 5, 2013 · 7:50 pm

Developing Social Marketing Plans

Corporate Social Marketing differs from other marketing activities as it focuses on responsible behaviours that help society and the environment. This contribution suggests that there are many benefits for businesses who carry out laudable initiatives. Social marketing raises the businesses’ profile as it strengthens the brands’ positioning relative to others. It improves the financial performance of firms, especially if it supports the firms’ marketing goals and objectives.

disability-group

Of course there may be many cynics among stakeholders (including customers) who view social marketing campaigns as none of your business. Therefore, developing and supporting social marketing campaigns will surely involve more than writing a cheque.

Businesses ought to pick an issue which is closely related to their individual organisation’s core business. The organisation’s resources and the corporate marketing strategies should focus on initiatives that have the potential for long-term sustainability. In addition, every member of staff should be encouraged to engage in socially and environmentally responsible behaviours. Perhaps, there is also scope in forging alliances with the public sector and non-profit organisations. Such external stakeholders can possibly provide relevant expertise, credibility and extended reach into promising customers. For instance, non-governmental organisations can easily identify the needs and wants of the communities around businesses. Finally, strategic marketing entails sequential planning processes which will involve consumer and competitive research as well as the effective utilisation of marketing mix tools.

A cohesive approach is necessary to ensure successful results. Therefore, the following steps and principles are highly commendable for the successful implementation of social marketing plans which will eventually reap fruit in the long term:

  1. Determine a vision for social behaviour: Who is the main sponsor of this concerted effort? What is the purpose of doing this? What social and environmental issue(s) will the plan address and why?
  2. Conduct a situation analysis, which triggers a SWOT analysis: What are the internal strengths and weaknesses? What are the external opportunities and threats?
  3. Segmenting target audiences: Which individuals and/or organisations in the community have the greatest need? Are these potential segments readily accessible?
  4. Set behavioural objectives and change management goals: A key success factor is the setting of specific, measureable, achievable, realistic and timely (SMART) objectives that become the core of campaign effort.
  5. Determine potential pitfalls to behaviour change: Perform a cost-benefit analysis of the desired behaviour. At this stage that it is also necessary to look at the competitors’ behaviours. The target audiences can also change their attitudes and perceptions about products and services over time.
  6. Draft a positioning statement: Are the businesses’ target audiences valuing socially and environmentally responsible behaviour?
  7. Develop the marketing mix, marketing strategies and tactics: Businesses need to respond to the barriers (and motivations) that target audiences may have. Some customers may be sceptical of the businesses real intentions. A few issues to consider in each of the 4Ps include: (i) Product – provide tangible products or services in the social marketing campaign, ones that will add value to the brand. (ii) Price – non-monetary forms of recognition can add value to the exchange transaction.(iii) Place – look for ways to enhance the distribution of the product (or service) by reaching out to the desired target market in a convenient way.    (iv) Promotion – develop marketing communication messages prior to selecting media channels. Messages have to be clear, understandable and relevant to particular target audiences .
  8. Develop a plan for evaluation and monitoring: Evaluation of target segments. Where there any behavioural changes in customers? Is the social marketing campaign successful?
  9. Allocate budgets and find additional funding sources: There may be scope in corporate partnerships (for philanthropy) with all sectors in society: e.g. public agencies, non-profit organisations, foundations and special interest groups.
  10. Complete an implementation plan: A three to five year plan may be required to educate staff, dedicate financial resources for infrastructures, change attitudes and perceptions to support behavioural change.

Also Published by the Times of Malta (18th July 2013)

Leave a comment

Filed under Marketing

Tagged as , , , , , , , , ,

June 6, 2013 · 5:46 pm

Marketing Effectiveness Audits

Customers

This article is also available here: http://www.business2community.com/marketing/marketing-effectiveness-audits-0684999

Generally, firms dedicate considerable resources on their marketing activities. Businesses’ marketing expenditure is usually devoted to campaigns, propositions, channels and customers. Such discretionary costs could optimise the interaction with customers and improve profitability which maximises the return on marketing investment.  However, the market environment and the chance factors can possibly influence results. Therefore a marketing effectiveness audit can be carried out in order to analyse and interpret all effects of the firms’ marketing functions. Such an audit will feature a roadmap for further improvements.

 

Management and staff have to recognise the primacy of knowing their customers. Are they capable of identifying between different promising segments?  Some managers tend to over concentrate on certain factors and ignore their customers’ philosophy. Certain managers are sales oriented as they strive to sell anything. Others may be driven by cost efficiencies as they place undue emphasis on price as a determinant of demand. Technology-oriented managers leverage their firms’ profile through digital marketing and social media.  However in business; it’s all about people interacting with people. All marketing functions should revolve around the customer needs. Ideally, each employee must meet and exceed the customers’ expectations. Integrated organisations are effective in their total quality management, as they are characterised by effective channels of communication.  Free flowing information must be in place, particularly between different operating divisions. Information communicated by one division may be critical to the operation of another, and may affect the action which will be taken by that division. Two way communication systems must exist all the way up from the lowest to the senior ranks. This sort of flexibility will allow organisations to deliver an excellent customer service. As a result, customers will perceive businesses as caring organisations rather than soulless bureaucracies. Arguably, employees may affect customers’ perceptions of their products or services. Customer satisfaction is everybody’s responsibility. The most successful businesses in the future will be those who offer a total quality, customer service product.

 

Enterprises need to have up-to-date information on their targeted markets. They need to know what customers need and want, all the time. The first step of anticipating customer needs is to watch what is happening. Businesses require timely and specific data relating to their provision of customer service. Marketing plans should be reviewed regularly to reflect the latest consumer attitudes and trends. The plans may need to be revisited to deal with problems and contingencies, should they occur. Relevant resources should be allocated in certain operational areas to carry out marketing activities, successfully. Adequate human resources must be carefully recruited, assigned, trained and nurtured. Employees can be effective only if they are deployed in the right areas. Different marketing strategies necessitate managers with relevant interpersonal skills. Businesses must recognise that various marketing activities must be allocated appropriate finances if they are to achieve the desired results. Checking marketing performance against ‘smart’ targets may involve qualitative assessments and checklists for continuous improvements. Key performance indicators examine customer complaints, customer satisfaction surveys and the like.

This contribution raises awareness about the purpose of marketing effectiveness audits as systematic examinations of the businesses’ marketing activities.  It is important for any organisations to carry out periodic reviews of their modus operandi as objectives and strategies are quickly outdated in today’s turbulent environment. Marketing audits help businesses to sample the effectiveness of their marketing activities; as they indicate the strengths and weaknesses of extant marketing strategies. Such audits will inevitably help to maximise returns on marketing investments by focusing on commercially successful activities and aligning appropriate resources to them. They lead to cost reductions by reallocating marketing investment away from ineffective activity. Audits provide a snapshot of how effective processes and systems are. In addition, the marketing effectiveness audit provides a course of action for further improvement. It creates a prioritised roadmap of activities to improve efficiency and effectiveness of marketing plans.

This contribution was published in the Times of Malta ‘s Business Supplement

Leave a comment

Filed under Marketing

Tagged as , , , ,