6 Ways to Improve Your Marketing Tactics This Year

Find a new type of customer – Chances are you have a pretty good feel for what your customers want, but you might still be missing out on potentially lucrative niches for your products if you haven’t considered how others might use them.  For example, the iPad’s target customer base might be professional thirtysomethings, but that didn’t stop Apple from marketing it to schools as a learning tool.

Live in your customers’ worlds – Have your staff attend the same events as your customers, mingle with them and get to know them.  Don’t have them try to make an immediate sale; instead, encourage them to learn more about what drives your customers.  Doing so will undoubtedly lend insight into how you can better serve them, spur product ideas and establish a loyal customer base.  Be sure they’re  handing out business cards to everyone they meet – after they get to know them.

Research … then take risks – A lot of small business owners I know blindly try new marketing mediums or buy media that THEY use without ever researching how well they perform for their products or services.  Research marketing tools, then make decisions based on their established performance.  You might also discover marketing tools your industry doesn’t use, so you can tap into them without competition.  Don’t be afraid to take risks… just make sure they’re educated risks first.

Outsource – You can’t do it all, but when you outsource to qualified providers you can accomplish more and make more money in less time.  There are many outsourcing guides available; the best advice I can offer is to make sure you select your providers wisely.  Do not waste money in retainers, fees, billable hours, etc. if you don’t have to.  When you have a great provider, you can achieve great things with little risk.

Have fun – Have fun with your new marketing ideas.  Don’t be afraid to brainstorm or to try something no one else has ever done before.  After all, the biggest prizes go to the innovators.

Consistency is king – All of our clients know, from me repeatedly stating this, that The No. 1 thing you need to do with your brand or product is be consistent. This means that your messaging, positioning and look should line up across platforms. It’s not about posting the same thing on each social media platform — it’s more about having everything have a consistent look.

 

2017: An Exciting Time for Research Suppliers and Clients Alike

1)   Marketing spending will continue to move mobile.

As ad spending continues to target Millennial and Centennial consumers, the focus will be on mobile and video – where these generations are plugged in constantly. These types of advertisements require us to rethink current models of ad testing and incorporate newer technology that can track and monitor how the younger generations respond to advertising on mobile devices.

Location-based marketing will likely see a huge increase this year. Consumers, especially younger consumers, have developed the ability to effectively ignore marketing that does not directly apply to them. Successful brands and retailers will incentivize engagement with brands through personalized marketing that catch the consumer in their immediate reality (time and place). Consumers appreciate the personalized touch of location-based coupons and sale announcements. Continuing to understand how consumers use mobile while in stores or while out walking around will be a big focus of experience-based research this year, which leads to our next trend.

2)   Brands will increase efforts to measure the experiencing-self of consumers.

As brands increase efforts to measure the experiencing- self of consumers along with the remembering-self of consumers that has traditionally been measured, integrating the two becomes critical. Research methodologies like monitoring and ethnography need to be paired with data from survey research to better understand the full picture of what is going on with consumers.

3)   The new shopping landscape is “buy anything, anywhere.”

Consumers want immediacy and they want everything custom tailored. Older retail models that don’t buy into anytime anywhere are severely challenged in the new marketplace.

The new three-dimensional structure of buying channels requires a more robust research initiative into the various ways people consume in the “buy anything, anywhere” age. Consumers do price comparisons in stores, and then buy online. Conversely, some consumers decide on purchases online and have groceries delivered or have their goods delivered to their car curbside at Target.

4)   Big data keeps getting bigger.

Storage is cheap; processing is cheap – so cheap in fact that companies are able to house and store massive amounts of data for very little cost. Data collection devices have increased the pace of data creation, IBM estimates 90% of the data in world has been created in the last 2 years. Every transaction, every event imaginable is being logged and recorded. The silos between the data are being destroyed and with the adoption of Hadoop and NoSQL databases, storing, accessing, and combining vast amounts of data while still challenging is a tractable problem.

Big Data represents an enormous challenge for market research, which is historically based on comparably smaller, point of time data sets. While Big Data is certainly a disruptor that the industry is fully aware of, it also represents a tremendous opportunity for researchers to incorporate real insights from huge datasets with a wealth of information. When this information is shared, incorporating this performance data into research initiatives not only provides deeper context, but a more well-rounded story.

5)   As video consumption increases, so does ad spending.

Every statistic about video consumption is on the rise and shows no sign of slowing. YouTube boasts that partner revenue and the number of channels earning six figures on YouTube are up 50% year over year. Hulu, Netflix, and Amazon Prime continue to create compelling content that competes with the traditional networks.

Sure, video is important to consumers, but it’s also key for marketers and advertisers. The Online Publishers Association reports that four of five Internet users recall watching a video ad on a website they visited in the last 30 days. The majority of senior executives state they’d rather watch a video than read written text, according to Forbes Insight. Measuring engagement with video, particularly on mobile devices, is key to understanding its effectiveness on the target audience.

This year looks to be an exciting time for research suppliers and clients alike. As consumers expect a more tailored experience what they watch and how they shop both online and in store, the research providing deep insights into the consumer world will need to be flexible, customizable, and focused on the experiencing-self of customers. Continuing to find new ways to incorporate new technology while creating a cohesive story from a full range of research offerings is now more important than ever.  That’s why we work directly with business owners and their marketing teams to ensure that your business is seen, heard and relevant! 

January Client News

2016 was a great year for Bachman Auto Group!  Steve and Teresa Bachman, along with her son Ryan, and other family members successfully operate Bachman Chevy, Bachman Subaru and Bachman Volkswagen.  (As well as other companies like their Business Elite division.)  bachman-group-logo

If you live in Louisville, you’ve undoubtedly watched Teresa on TV countless times and can probably hear the jingle in your head right now….BACHMAN MAKES THE DIFFERENCE!

There are many factors in the success of their business.  First is the way Steve and Teresa treat their employees.  Many, many of their employees have happily worked at Bachman for more than a decade.  This directly carries over to how the Bachmans, and as importantly, their employees, treat their customers.  Their referral and repeat business is extremely strong and effective.

working-on-tv-adFinally, if you read my e-mails monthly, you know that I always try to incorporate the importance of consistency in advertising.   Bachman Auto Group always ranks #1 in their territories for many reasons, but consistency in their advertising is one very important reason.

Mobile Geo-fencing

With the increasing movement of consumers from traditional web browsing (i.e. laptop and desktop computers) to mobile browsing on tablets or smartphones, advertisers are now using a mobile marketing technique called geo-fencing when trying to target potential customers.

Geo-fencing is a variation on the more commonly known geo-targeting – that is, restricting the placement of digital ads so that they only show up to users within a predefined location.

Geo-fences help you establish and reach on-the-go audiences at the most opportune time and place. This radius precision technic sets a pre-determined geographic area and we then deliver your ads to users who are inside the fence based on GPS coordinates. Messages can also be set to appear during certain days/times to maximize reach.

By identifying mobile users’ precise locations based on GPS, you can send hyper-local messages to mobile devices. Ads can be sent to mobile users at and immediately around Papa John’s Cardinal Stadium, YUM Center, RUPP Arena, Commonwealth Stadium, Churchill Downs, Keenland or any other desired sporting venue. It is also a perfect medium to reach conference attendees, college campuses, certain areas of a city, etc.