Wednesday, 30 July 2014

The Marketing Funnel - Brand & Value Proposition

In my opinion, educating people about your brand and value proposition at every stage of the marketing experience/funnel, is just as important as conversion, in fact more so. Many B2B and even B2C marketers however, struggle to see past the 'what does this mean for sales' angle, which is of course the easier measurable to side with.

The Funnel

In essence 'the funnel' is about: marketing, automation, lead management, demand generation and lastly sales.



TOP
Attract - to draw potential customers towards you
  • Increased brand awareness
  • Targeted display / banner adverting
  • Delivery of messaging and value proposition (VP)
  • Drive website traffic
  • Educate (brand & VP)
MIDDLE
Engage & Nurture - a series of communications to help the person know, like, follow and trust you:
  • Drive content engagement
  • Social advertising
  • Boost form conversions & harvesting relevant details
  • Increasing page views & visits
  • Educate (brand & VP)
BOTTOM (it’s OK to talk 'sales' now)
Sell - establish a detailed understanding of that person’s requirements and matching a solution, product or service. 
  • Re-targeting
  • Re-emphasis of brand messaging and value proposition 
  • Drive qualified leads
  • Revisit missed opportunities and conversations
  • Statistical analysis
  • Sales contribution
  • Educate (brand & VP)
It's important not to disregard the customer once they are on board with you. Too often the after sales process is non-existent or poorly thought out. Loyalty should not be taken for granted.

Deliver - the after-sales support, to help the customer gain benefits early, always nurturing the relationship.

Educate prospects and customers
By ensuring you educate people about your brand and unique brand values, you instil something a lot more important and ‘human’ in them, leaving a lasting impression. This of course takes time and effort and you should only pitch the ‘sale’ after you have done the work.

Display advertising

When was the last time you clicked on a display ad anyway? Many marketers still can’t understand the reason behind banner advertising, probably because they are looking at the wrong stats. Banner advertising is amongst the few forms of online advertising that you should almost completely disregard the click thorough rate (CTR) and focus entirely on the impressions (times the ad was displayed). Spend the extra time in selecting the network of sites to use and the demographic of people to target, and this form of advertising can work its magic in the latter parts of the funnel. Remember – impressions, not click throughs!
First ever display ad. Amongst the few that actually had great CTR %
The average banner ad has a 0.1% click through rate, 50% of which are mistakes, which means that you are in fact more likely to survive a plane crash, than click on a display or banner ad. But it has its place in your marketing, remember, impressions are your friend.*

THE MORAL
BELIEVE IT OR NOT, YOUR PRODUCTS, SOLUTIONS AND SERVICES ONLY MAKE AN IMPACT AND DRIVE SALES IF YOUR BRAND AND PEOPLE ARE DELIVERING THE BRAND'S TRUE PROPOSITION. 




Wednesday, 11 June 2014

3D Body Scanning and the Rise of Mass Customisation

When 3D body scanning technology was first implemented at airports security counters around the world, there was uproar and many of us kicked up a stink relating to not really having a choice when it came to our privacy . The way I see it is, privacy isn't an issue when we knowingly give it up, the problem is when we are forced to give it up, or it is taken without our knowledge or consent. 

A little about the 3D body scanners
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These 3D body scanning pods developed by mPort emerged in May at Sydney shopping complex after a 12 month trial. The pods require only underwear and take 30 seconds to capture your body measurements, replacing the need for a tailor’s old fashioned measuring tape and mannequin. 

The avatar created (and stored) can then be used to purchase clothes online, knowing full well that they will be a perfect fit.

The benefit
Aside from the stored measurement and health tracking; Husbands, boyfriends and partners everywhere will finally be able to comfortably make a purchase of that dress, top or piece of lingerie, without fear of offending their WAG by getting a size that's too big or vice versa.

The risk
Pretty obvious, the privacy of our info. Considering date-of-birth is part of the deal for a scan, its value goes up.

Marketing & mass customisation
Mass customisation was always going to feature as part of the future of marketing, and 3D body scanners are a look into that future, at least for fashion retailers and manufacturers.

Think about how you consume media, marketing and PR for a minute. Better yet, if you work in this space, think about what is the ideal aim for your content? Probably something like; to provide tailored content that is relevant to the person in real time (or as close to); allowing you to re-purpose content and avoid reproducing and manually tailoring it slightly to suit the audience. Basically, to customise and automate the message where possible, right?

Customise your content or get comfy spending more...
It may not seem like this applies at the moment, but consider this:
  • connected televisions
  • login to view news or media
  • in-app advertising
  • improvement in our ability to curate content 
  • improvements in social media filters & message frequency 
  • original entertainment, etc, etc, etc.
More brands will soon have enough information (not just data) on us, to be able to target us specifically, not my demographic, but me, as in me me... If you avoid using your data and marketing in this fashion, you will end up paying more and receive much less bang for your buck.

So many people throw the term around of "work smarter, not harder"; with the tracking and data available nowadays, shouldn't we expect our marketing dollar to do the same..?
Target me, not my demographic!
Customisation may be as simple as fragmentation (for now)
In its infancy, and until the mainstream marketers become more a custom to getting the most out of their data, it may be a matter of simply fragmenting the message and not trying to have it apply to every person that you're targeting. 


THE MORAL:
OUR SMART PHONES MAKE US SUPERHEROES, USE THEM TO FURTHER EMPOWER YOUR TARGET. USE YOUR MARKETING DATA AND LEARN TO CUSTOMISE YOUR MESSAGE, PRODUCT AND/OR SERVICE WHERE YOU CAN, OR YOUR COMPETITORS WILL!
tap to enlarge




Tuesday, 6 May 2014

What will wholesalers and the dodo, soon have in common?

The Dodo didn’t become extinct when food was a plenty, its inability to plan for the future and adapt in an ever evolving world is the reason it is now extinct. If wholesalers don’t stop being so naive about where manufacturing is heading and at least start trying to evolve, they will meet the same fate as the Dodo.

In a time where digital offers tracking and efficiencies and can’t be ignored or where 3D printing is becoming cheaper every day and where machines talk to people, people to machines and machines to machines (M2M); in a land where internet rules and where we, as customers are getting back the power; wholesalers better shape up or ship out!

Customers are more aware of business behaviour when it comes to purchasing. It’s no secret that wholesalers are essentially in the business of making money as a middle man. Though there is nothing wrong with that, we are just asking you – the wholesaler – to offer us something more. Shape the incentives for people who don't understand what their requirements are about; do that and this will make a cup wholesaler start caring about what goes in the cup, not just the cup itself.

The fact that most wholesalers still use facsimiles (hyperlinked for the millennials) as a primary source of placing orders, requesting stock and general communication says so much.

Though it pains many wholesalers to hear it, manufacturers all over the world are making leaps and bounds in being able to deliver an offering directly to the consumer, despite it being through the necessity of trying to offset rising costs, we the consumer in essence, don’t care.

As manufacturers boost their supplier relations, isn't it just natural to assume they will boost their sales, marketing and distribution channels? We may be a little while off seeing this really impact wholesalers, but nature says it’s going to happen and the middle man needs to offer something in addition to, or get out of the way!

THE MORAL
INNOVATE AND EMBRACE CHANGE OR BRACE YOURSELVES FOR THE FAIL FALL.