Tag Archives: opportunity

Young Adults Shopping at Wal-Mart

27 Jul

Yes, you read the title to this post correctly. Despite some stereotypes to the contrary, Wal-Mart is attracting lots of young adults.

InfoScout recently conducted research on this subject. As reported by Jack Neff for Advertising Age, there were some unexpected results:

“What’s the hottest big retailer with millennials [young adults]? Wal-Mart. The reason may be its investment in E-commerce and mobile, or it could be that its low prices resonated during the economic downturn. Or it could be specialty Tommee Tippee baby bottles [ :-) ].”

“‘Millennials now, as a generation, like Wal-Mart the best, more so than Generation X, more so than boomers,’ said Matt Kistler, Wal-Mart senior VP-consumer insights and analytics. ‘That kind of shocks a lot of people, including inside the company,’ admitted Wal-Mart Chief Marketing Officer Stephen Quinn.”

“It doesn’t exactly jibe with the perception that big-box supercenters are losing ground to niche brands, small stores, and E-commerce. Mr. Quinn sees it differently. ‘As millennials become time-crunched with relationships and kids coming along, it’s opening up a strong need for them to have a one-stop shop,’ he said.”

Click the chart to read more from Neff.
 

 

The Stages of Social Media Engagement

23 Jul

At this point in time, millions of organizations (and individuals) have become engaged in social media. However, they are not all at the same stage of development. Some are much further advanced than others.

As reported by Simply Measured:

“Nearly every technology applied to business processes, from change management software to cyber security, now boasts a maturity model. They’re intended to point out how far a company has gone towards optimizing the use of the technology. Social media is no exception.”

“Among the sources of information on social media maturity today, one stands out. It’s business research and consulting firm Altimeter Group’s paper, The Evolution of Social Business: Six Stages of Social Business Transformation. The six stages – planning, presence, engagement, formalized, strategic, and converged – describe how companies go from dabbling part-time in social to considering social in every strategic business decision they make in every department. When a company reaches this final, most evolved stage, Altimeter calls it a ‘social business.’”

In what stage of social media development do YOU fall? What are YOU doing to move further along in your development?

 

 

 

Free Resources from Trendwatching.com

17 Jul

Trendwatching.com is an excellent source of information about current and emerging trends around the globe:

“Established in 2002, we help forward-thinking business professionals in 180+ countries understand the new consumer and subsequently uncover compelling, profitable innovation opportunities. We rely on professionals in London, New York, São Paulo, Singapore and Lagos and on our network of spotters in more than 90+ countries worldwide.”

At its Web site, Trendwatching.com makes available a number of free resources. Here are some recent examples:

 

 

Analyzing Competitors’ Social Media Activities

14 Jul

How can we assess the social media activities of competitors? Although there are several perspectives we can take, Social Media Examiner has presented several excellent tips for monitoring competitors.

As reported by Megan Hannay:

“Researching your competitors on social media not only provides an overview of your industry, but it also gives you insight into the current habits of the audiences you’re targeting. By answering a few key questions, you’ll see what kinds of posts are effective for the people you want to reach.”

Here are just some of the questions raised by Hannay in her article:

#1: Analyze Facebook Pages — If you want to gain insight into a company’s Facebook page, here are some questions to consider: How many followers do they have? What are they posting about?Are their posts mostly internal (company-based) news, blog posts and articles; mostly external news, blog posts and articles; or a mix of both?”

#2: Look at Twitter Accounts — How many followers do they have? How many accounts are they following? A good rule of thumb: An account with 50,000 followers that’s following 500 users probably has more influence than an account with 50,000 followers that’s following 49,000 users, unless they bought followers.”

#3: Examine Instagram Accounts — How many followers do they have? How many accounts are they following? Are their posts mostly internal, external or a mix of both? How on-brand are their photos? Do they show the product or service in each shot, or do they follow a more lifestyle-oriented content strategy?”

#4: Review YouTube Channels — What’s their video content like, and how on-brand is it? Do they stick to product tutorials, or do they branch out to product non-specific tutorials? Do they show off company parties and happy hours? How many subscribers do they have?”

#5: Evaluate Pinterest Accounts — How many followers do they have, and how many users do they follow? How do they show off their product or service in pins? How do they organize their pins? What are their board names? Are their pins all brand-generated (product pins) or do they repin others?”

#6: Monitor Snapchat, Periscope, and Meerkat Accounts — Due to the nature of their content, it’s difficult to evaluate these channels in one go. But if your competitors use them, follow their accounts and check out their content when it goes live. Here are some questions to consider: What content are they posting? How many interactions (on Periscope and Meerkat) do they garner from their fans?”

 
Click the image to read all of Hannay’s suggestions.


 

Marketing and Sales: Better Cooperation Needed

29 Jun

Even though, a company’s sales personnel are typically viewed as part of the marketing function, there are also differences of opinion and sometimes conflicts between marketing and sales. Instead, mutual respect and cooperation need to rule the day!

As Hadar Duek observes for HubSpot:

“In my job, I chat with marketers very often about what problems they’re facing. One of the most common issues I hear about is lead flow — a marketing department generates hundreds of leads per month, but many of them aren’t closing. Nobody knows where to turn. Sales points fingers at marketing. Marketing points fingers at sales. They both shrug, unsure of how to proceed. To get the partnership running effectively again, there are three things I recommend marketers start doing with their sales team.”

1) “Provide sales training on how inbound leads are different. Many sales reps are trained to aggressively go after leads who will close ASAP — and ignore the ones who won’t. When I was in sales, I did the same thing. If a prospect wasn’t ready to send in a purchase order in the next week, I was onto the next lead. With limited time and an endless universe of opportunities, I had to prioritize. This mentality needs to shift when your company is generating inbound leads. Just because someone became a lead by downloading an E-book doesn’t mean they are ready to buy something immediately. On the other hand, they may very well be a great fit for your company down the line.”

2) “Develop a feedback loop between marketing and sales. How often have you seen leads go sales, receive follow-up, and then fall into a black hole? In my work with HubSpot customers, I see it all the time. This is a huge missed opportunity. To prevent this lack of communication, set up a way for sales to pass leads back into the nurturing funnel based on what they learned in the initial qualifying conversation. They like pink? Put them into the all-pink text E-mail nurturing campaign. They like chocolate sandwiches? Put them into the E-mail nurturing campaigns with lots of chocolate sandwiches.”

3) Set up regular meetings between marketing and sales. Some marketers pass all leads directly to their sales team and others only pass over the ones that meet criteria they determine as ‘sales qualified.’ For the latter group, if sales is passing back a lot of leads, this indicates the criteria for transitioning a lead needs to be tweaked. Look at examples of leads that were passed back and what about their criteria missed the mark. Set up a meeting to review these examples.”

Click the image to read Duek’s full article.

 

 

A Provocative Take on the Future of Self-Driving Cars

26 Jun

Self-driving cars are in the late stages of testing in the United States. Besides safety issues, consumer skepticism, the regulatory environment will have a major impact on how quickly and widely that self-driving cars make it in the market.

Given that self-driving cars will/may be sold in the very near future, we need to better understand where the marketplace will be headed. Recently, McKinsey’s Michele Bertoncello and Dominik Weewe published a thought-provoking view of self-driving cars: “Ten Ways Autonomous Driving Could Redefine the Automotive World — The Development of Self-Driving, or Autonomous, Vehicles Is Accelerating. Here’s How They Could Affect Consumers and Companies.”

  1. “Industrial fleets lead the way.”
  2.  “Car OEMs [original equipment manufacturers face a decision. Automakers worldwide will likely define and communicate their strategic position on AVs in the next two to three years.”
  3.  “New mobility models emerge. While OEMs are developing autonomous vehicles, a variety of other transport-mobility innovations are already hitting the road.”
  4.  “The car-service landscape changes.”
  5.  “Car insurers might shift their business model. Car insurers have always provided consumer coverage in the event of accidents caused by human error. With driverless vehicles, auto insurers might shift the core of their business model, focusing mainly on insuring car manufacturers from liabilities from technical failure of their AVs, as opposed to protecting private customers from risks associated with human error in accidents.”
  6.  “Companies could reshape their supply chains.”
  7.  “Drivers have more time for everything. AVs could free as much as 50 minutes a day for users, who will be able to spend traveling time working, relaxing, or accessing entertainment.”
  8.  “Parking becomes easier. AVs could change the mobility behavior of consumers, potentially reducing the need for parking space in the United States by more than 5.7 billion square meters.”
  9.  “Accident rates drop. By mid-century, the penetration of AVs and other ADAS could ultimately cause vehicle crashes in the United States to fall from second to ninth place in terms of their lethality ranking among accident types.”
  10.  “AVs accelerate robotics development for consumer applications.”

 
Click the chart to read the full article.

McK1
 

Resume Tips: An Infographic

19 Jun

Although high-tech digital job application tools are gaining in usage by companies — especially larger ones, the resume remains a key document in most employment searches. So, it is  essential that we do everything we can to have our resume stand out from our job applicant competitors.

As Mark Wallace writes for Akken Cloud:

“Finding the right candidates has always been and will continue to be a top challenge for recruiters and their clients. And, with the job market as strong as it is now, often times, active and passive candidates for employment are relying on the available new media channels and not spending as much time as they should on dusting off an old resume or perhaps creating a new one.”

“Let’s face it, the traditional resume or CV, will likely go away in the not too distant future. However today, how a candidate formats his or her resume is often the primary reason why a technology platform, a recruiter, or talent acquisition team will select and follow up with a potential candidate. The below Resume Do’s and Don’ts infographic includes some great tips to help your employees, customers, and your team to be successful.”

 

Click the image to enlarge it.

Via AkkenCloud

 

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