Over the last 18-24 months, it has become very obvious that only suckers still pay full price for just about anything. Coming out of the '08 economic crisis most retailers were focused on maintaining consumer interest by offering steeper discounts, loyalty programs and 'always on' promotions. Once things 'rebounded', the advent of group discounting/buying sites became more prevalent, leaving consumers with multiple options on securing many items and services.
If you want to save more on your consumer spending contributions, let's review some of your options..
Promo Codes:
On most every retailers checkout process, there is a data field option asking to 'apply promo code'. You can either grab the code at that moment (by opening another browser) or begin your shopping experience from a coupon site.
Free shipping, % off discounts, dollar-off discounts and loyalty point rewards are the common discounts/promotions that can be found prior to or during any shopping experience.
Start at couponcabin.com, retailmenot.com or bradsdeals.com. You can find these discounts for just about any brand you often shop. These sites also promote in-store coupon options as well.
Private Sales:
These sites satisfy the consumers need to feel like they belong to an exclusive club. Exclusive, because many are invite only. But models are shifting since the daily deal landscape has become very saturated. From OneKingsLane for furniture, to GiltGroupe or RueLaLa for fashion, to Zulilly or BabySteals.com for kids clothing. I'll
put it this way, whatever your category, just Google "[your favorite
category] daily deal site" and you will most likely discover yet another
one.
Group Buying & Daily Deals:
The future of the group buying model is still unfolding in front of our eyes. What seems like a great deal to the local customer, may be putting your favorite mom-and-pop shop out of business.
Plus for the estimated $577 million of daily deals that go unredeemed, a new market for reselling those unused deals is beginning to flourish as well.
Keep an eye on BuyWithMe and LivingSocial for the group based, daily deals.
SMS/Mobile Programs:
The increase of mobile/smartphone usage will only help increase a consumer's ability to gain discounts. Many retailers will provide a sign up prompt, promising exclusive discounts if you provide a mobile number and opt in to the program. More and more retailers will leverage your physical location to target you with these exclusive offers. Mobile proximity marketing is projected to be a $6 Billion market by 2015.
Think twice the next time you're about to pay full price for something. There are options out there to help save you money.
9.25.2011
7.29.2010
4 Considerations When Running User Generated Ads/Commercials
Doritos or Pepsi may be the first brands that come to mind as ones that did it well. IceHouse Beer is a brand that came off as desparate. At their core, these are sweepstakes executions that leverage video as the end delivery product (vs trivia, simple sign up, etc).
When inviting your customers (or people you believe to be your customer) to drive your creative strategy, consider these four things...
1. Are you sure this is a good idea?
Research. I'm sure there are several companies that thought this was a great idea, but when digging deeper they realized that their expecations would not resonate with their customer base. Having a target demo of 18-49 does not always automatically equal prime audience for user generated ads. Demo is one thing, your brand is another. Does your brand fabric align with existing social ecosystem?
If you are setting up your facebook page the same time you're planning to execute a UGC campaign...you may want to hold off. Do not force the execution, rather, invest in research time and effort to ensure traction among your target.
2. Beware of the Vacuum.
Your brand may be ripe for a UGC campaign...but how does that overlap with other brand messages/campaigns that are in the market? Setting up a landing page, minisite, facebook tab dedicated to your 'submit your video' idea -- independent from other strategies, tactics and executions -- may confuse and eventually detract customers from staying engaged and caring. Some of the most successful UGC campaigns are well planned and executed across all consumer touch points (often inclusive of product packaging).
However, some UGC campaigns have gained traction virally; almost void of any promotion other than leveraging a few influencers/evangelists.
Don't get sucked into the 'this idea is good enough on its own' mentality. This is when your brand becomes unmistakably desparate in the eyes of the public...primarily your (former) customers.
3. Commit To Measurement.
Successful UGC campaigns are often the ones that get the most press/coverage/buzz..but I wonder if any of these ever moved the revenue needle. When you clarify your success metrics during the planning process, all 3rd parties/vendors/stakeholders involved are on the same page...there is less finger-pointing or spotlight-hogging when the press picks up on your initiative.
4. Share the losers.
Sure, you want to reward and promote the smartest, most clever brand enthusiast you have...but the majority of those that participated or simply watched from the sidelines want to see the train-wrecks. This is human nature and customers will love you for it. Let everyone vote for the 'worst of the worst' if the campaign is worth extending. Ever hear of William J. Hung?
Some other recommended tools/tactics that can help with your UGC campaign..
* Enlist a social monitoring tool (socialradar.com, scoutlabs.com, peoplebrowsr.com): keep tabs on impact, sentiment and buzz around your initiative
* Vanity URLs : capture your catch phrase (yourtagline.com) or extension from your brand (brand.com/submityourad) to determine demand spikes during and after your promotion
* QR codes : expand your touchpoints and empower the smartphone generation to engage and share.
When inviting your customers (or people you believe to be your customer) to drive your creative strategy, consider these four things...
1. Are you sure this is a good idea?
Research. I'm sure there are several companies that thought this was a great idea, but when digging deeper they realized that their expecations would not resonate with their customer base. Having a target demo of 18-49 does not always automatically equal prime audience for user generated ads. Demo is one thing, your brand is another. Does your brand fabric align with existing social ecosystem?
If you are setting up your facebook page the same time you're planning to execute a UGC campaign...you may want to hold off. Do not force the execution, rather, invest in research time and effort to ensure traction among your target.
2. Beware of the Vacuum.
Your brand may be ripe for a UGC campaign...but how does that overlap with other brand messages/campaigns that are in the market? Setting up a landing page, minisite, facebook tab dedicated to your 'submit your video' idea -- independent from other strategies, tactics and executions -- may confuse and eventually detract customers from staying engaged and caring. Some of the most successful UGC campaigns are well planned and executed across all consumer touch points (often inclusive of product packaging).
However, some UGC campaigns have gained traction virally; almost void of any promotion other than leveraging a few influencers/evangelists.
Don't get sucked into the 'this idea is good enough on its own' mentality. This is when your brand becomes unmistakably desparate in the eyes of the public...primarily your (former) customers.
3. Commit To Measurement.
Successful UGC campaigns are often the ones that get the most press/coverage/buzz..but I wonder if any of these ever moved the revenue needle. When you clarify your success metrics during the planning process, all 3rd parties/vendors/stakeholders involved are on the same page...there is less finger-pointing or spotlight-hogging when the press picks up on your initiative.
4. Share the losers.
Sure, you want to reward and promote the smartest, most clever brand enthusiast you have...but the majority of those that participated or simply watched from the sidelines want to see the train-wrecks. This is human nature and customers will love you for it. Let everyone vote for the 'worst of the worst' if the campaign is worth extending. Ever hear of William J. Hung?
Some other recommended tools/tactics that can help with your UGC campaign..
* Enlist a social monitoring tool (socialradar.com, scoutlabs.com, peoplebrowsr.com): keep tabs on impact, sentiment and buzz around your initiative
* Vanity URLs : capture your catch phrase (yourtagline.com) or extension from your brand (brand.com/submityourad) to determine demand spikes during and after your promotion
* QR codes : expand your touchpoints and empower the smartphone generation to engage and share.
6.28.2010
FREE social listenting tools
situation : you are someone looking for quick/easy/free tools to scour the social landscape.
you already use google trends, technorati, digg and search.twitter.
you are looking for enough hi-level data to make assumptions, trends and surface level recommendations.
you are not ready to pay monthly fees/per query costs.
solutions: try these free social listening tools (remember to keep realistic expectations...these are free)
icerocket.com
pb.ly
socialmention.com
backtype.com
you already use google trends, technorati, digg and search.twitter.
you are looking for enough hi-level data to make assumptions, trends and surface level recommendations.
you are not ready to pay monthly fees/per query costs.
solutions: try these free social listening tools (remember to keep realistic expectations...these are free)
icerocket.com
pb.ly
socialmention.com
backtype.com
6.27.2010
life-stage vs life-cycle marketing
over the past 4 years, i encountered several life changing experiences..a relocation, a new job, a new house, got married, bought a house and became a father (two yrs apart). each of these has a series of post-event marketing opportunities.
now that the dust has settled (somewhat), it became apparent one day at the tremendous missed opportunity by advertisers/brands that could've become exclusive partners (and recipients of my hard earned money) over this time.
most of my brand engagements were proactive and self selecting based on standard operating procedure of day-to-day 'consumer-ing'...using an affiliate coupon here or there, or receiving a special 'thank you' coupon for signing up to an email program.
enter the age of the ubiquitous shopper, liquid content and the expanding gap between consumers and a brands ability to 'connect' at a real and meaningful level.
seems like this article was on the right track, but it was in the stone ages..circa 2003
is there a need for a focused resurgence around the idea of lifestage vs lifecycle? does one feed the other?
there is/has always been a focus on CRM, but now SRM (social) requires more smarts around modeling of customer behavior. there will always be CPG cycles that refresh every 30-60-90 days...
but what about the missed opportunity that overlaps consumption need with emotion (now have two kids and could use some time saving offers/solutions), location (recognize that i moved to NE from SE.seasons are more pronounced) and power of influence (leverage expanded social network).
i would argue that if a reputable company were able to offer lifestage consumer opportunities (market to me when you know i'm entering a pivotal stage, dont make me find you), then there could be a way to pioneer a stronger brand/consumer relationship and maximize revenues (premium customers) based on real relevancy.
not sure if any model like this exists, either via an affiliate network, iphone app or other means...if not, i certainly smell a business plan cooking.
now that the dust has settled (somewhat), it became apparent one day at the tremendous missed opportunity by advertisers/brands that could've become exclusive partners (and recipients of my hard earned money) over this time.
most of my brand engagements were proactive and self selecting based on standard operating procedure of day-to-day 'consumer-ing'...using an affiliate coupon here or there, or receiving a special 'thank you' coupon for signing up to an email program.
enter the age of the ubiquitous shopper, liquid content and the expanding gap between consumers and a brands ability to 'connect' at a real and meaningful level.
seems like this article was on the right track, but it was in the stone ages..circa 2003
is there a need for a focused resurgence around the idea of lifestage vs lifecycle? does one feed the other?
there is/has always been a focus on CRM, but now SRM (social) requires more smarts around modeling of customer behavior. there will always be CPG cycles that refresh every 30-60-90 days...
but what about the missed opportunity that overlaps consumption need with emotion (now have two kids and could use some time saving offers/solutions), location (recognize that i moved to NE from SE.seasons are more pronounced) and power of influence (leverage expanded social network).
i would argue that if a reputable company were able to offer lifestage consumer opportunities (market to me when you know i'm entering a pivotal stage, dont make me find you), then there could be a way to pioneer a stronger brand/consumer relationship and maximize revenues (premium customers) based on real relevancy.
not sure if any model like this exists, either via an affiliate network, iphone app or other means...if not, i certainly smell a business plan cooking.
6.25.2010
can banner impressions be more accountable?
first, there was a concept of banner blindness; site visitors ignoring banner ads due to the overwhelming volume (of irrelevant offers, images, etc) that one is exposed to.
next, the display ad landscape evolved quickly, frantically, strategically...but not necessarily in the future interest of the customer.
retargeting and behavioral targeting became must-haves. cookie my visitor, serve them ads when they leave the site, assume that browsing=buying and charge the advertiser a % for every sale delivered.
the model supports networks in serving as many ads as possible, in order to cookie as many potential visitors...in order to re target them...in order to make money.
this means that if an ad is served below the fold (or as long as the code is fired), someone is still cookied..forget about whether or not the ad is relevant, it is just a matter of getting them to the site.
enter solutions like a RealVu.net and mediaforge.com that allow for accountability and paying only for 'viewable impressions' or when there has been a deeper engagement (hover, scroll, etc) than just the ad being served.
interested to see what effect/affect may be caused due to these sort of solution.
i would expect premium pricing within ad networks for this above the fold (ATF) inventory..but can it be done via networks with scale as well?
does it mean that BTF inventory begins to shrink even more?
overlay this into social and mobile applications (that can track this today)...does the smartphone/ipad app then help eliminate the ATF/BTF conversation?
we shall see
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