Tag Archives: experiental marketing

What Will You Buy for Mom This Year?

4 May

According to the National Retail Federation, as reported by Ana Serafin Smith, Mother’s Day 2017 is expected to generate record revenues for retailers:

“Consumers say they will spend more than ever on Mother’s Day this year as they shower moms with everything from jewelry to special outings at favorite restaurants, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. Mother’s Day shoppers are expected to spend an average of $186.39 for the holiday, up from last year’s $172.22. With 85 percent of consumers surveyed celebrating the holiday, total spending is expected to reach $23.6 billion. That’s the highest number in the survey’s 14-year history, topping last year’s previous record of $21.4 billion.”

“According to the survey, consumers plan to spend $5 billion on jewelry (purchased by 36 percent of shoppers), $4.2 billion on special outings such as dinner or brunch (56 percent), $2.6 billion on flowers (69 percent), $2.5 billion on gift cards (45 percent), $2.1 billion on clothing (37 percent), $2 billion on consumer electronics (15 percent), and $1.9 billion on personal services such as a spa day (24 percent).”

 
  What do YOU plan to give mom this year? 🙂


 
Check out this video from the NRF.


 

FORTY Facts on the Psychology of Color

5 Apr

Color is a very important component  of the marketer’s toolbox, as we have reported before (see 1, 2.)

Colin Cieloha of Skilled.co makes these observations:

“Are colors in business important? It is not something that I ever thought needed a serious consideration. I always thought that color was there to make things look pretty. Recent studies have proven that color can impact on behavior, thoughts, emotions, and even the subconscious decisions that we make. Color is a key tool that can be used for marketing purposes to drive sales and increase conversion rates.”

“Do you know that the reason why red is such a popular color choice for clearance sales is because it evokes a sense of urgency and can even raise our heart rate? The psychology of color is explored in an infographic from the team at Skilled.co which you can view in full below. Take a look and find out how color can boost your business.”

 

 

What’s Ahead for the Subscription Box Service?

13 Mar

Are subscription boxes a fad or sustainable business model? According to Jameson Morris, a specialist in the field: “A subscription box is a recurring, physical delivery of niche-oriented products packaged as an experience and designed to offer additional value on top of the actual retail products contained in a box.”

Morrison further notes that to be considered a subscription box service, these elements are needed: 

“Must be a physical delivery (digital subscriptions can’t be classified as a subscription box). 

Must be a recurring subscription/membership (of any term or frequency). 

Must feature one or more of the following value propositions:

Surprise (at least 1 or more items in the box must be unknown to the customer before delivery). Discovery (slightly different than ‘Surprise’. Discovery-oriented subscriptions don’t have to have ‘mystery’ items, it’s more about consumers ‘discovering’ items they’ve never seen before).

Curation (a thoughtfully picked variety of products related to a specific niche or category). 

Savings (a clear savings on the price paid for the box versus the total retail value of the items inside). 

Thoughtful Presentation (From custom packaging to the way products are arranged inside the box). 

Convenience (convenience cannot be implied solely by the fact that it’s a recurring ‘auto-delivery’. Rather, think of the fresh ingredient subscription boxes like Blue Apron or Green Chef–they deliver convenience in the form of pre-prepared ingredients and recipes).”

 

According to eMarketer:

“A March survey from AYTM Market Research of 1,000 US consumers showed that while a little over half of respondents said they have used at least one subscription service, almost two-fifths who had used one said they had canceled.”

“’To stay the distance, brands using a subscription model need a very strong point of difference and superior customer service,’ said Sarah Boumphrey, global lead of economies and consumers at Euromonitor International. She added that subscription services also need to come up with other avenues of revenue. For instance, Birchbox, a leader in the space, has brick-and-mortar stores.”

“Differentiation will be even more crucial, as there are signs that suggest the industry’s growth is slowing. Traffic to subscription service sites in January rose 18%, according to Hitwise. Though that’s healthy growth, it’s well off the 56% gain registered a year earlier.”

 
Click the image to read more.


 

What Type of Autonomous Car Is for YOU?

6 Mar

As we get closer and closer to the commercial launch of autonomous (self-driving) cars, one key factor has not been addressed enough: What is an autonomous car — because one type of car does not fit all? The answer is not simply “a car that takes over all/most driving functions for you.” The possible configurations of cars complicates things for both manufacturers and potential customers!

Here is a very good list of the types of autonomous driving experiences, from Lauren Flanigan (writing for The American Genius) that are ahead. Which type is best for YOU?

“From self-parking to collision avoidance, there are an array of different features that will be made available to consumers. But before you start saving for your next dream, take a look at which kind is best for you and your futuristic needs.”

Level 0 (zero automation) — “Your car is most likely a zero automation car. A human driver is required to operate and fully control the vehicle.”

Level 1 (driver assisted/function specific) — “These cars are for those who don’t trust automobiles with their lives. They still require a driver to operate the vehicle, but act as an aid to the driver, providing [specific] intelligent features.”

Level 2 (partial automation/combined autonomous functions) — “At this level, a self-driving automobile can perform two or more simultaneous tasks like steering, lane keeping, and speed maintenance while in cruise control mode.”

Level 3 (conditional automation/limited self-driving) — “The car assumes more than just partial control, and acts instead as a co-pilot. Although the driver can relinquish a lot of tasks to the car, the driver must to be ready at all times to resume control.”

Level 4 (high automation) — “These cars can perform all safety-critical driving functions while monitoring environments in defined-use cases without human intervention. Drivers enter the destination and navigation details and the car does the rest.”

Level 5 (fully autonomous) — “This car does not require any effort or driving on behalf of the human owner. There is no driving equipment in the car, which is designed to resemble comfortable environments like lounges and offices. The vehicle is in full control.”

 
Click the image to read more.


 

Be Careful in Making Promises to Customers

2 Mar

In the current highly competitive global marketplace, marketers face a difficult balancing act. On the one, they must promote their goods or services as superior to other firms’ offerings. On the other hand, if customers become unhappy because they buy something that does not meet their expectations, they may be lost to the overpromising firm forever. What we should do? Here’s one perspective from a company dealing with high-value clients.

As Joshua Hebert (CEO of Magellan Jets) writes for Fortune magazine:

“We know that everyone stumbles, and when that happens, the most important thing to do is minimize the damage and turn the mistakes into a positive. One of our most memorable setbacks was with a private travel customer who wanted us to help out when one of our competitors let her down. This was no small deal — one of the top celebrities in the world had a mechanical issue with her jet, and needed us to get her from London to New York overnight. What we did next wasn’t the best idea: We promised the world. Although we didn’t quite have everything lined up, we said we could make it happen on a moment’s notice. When we put the pieces together for the flight, we found the pilots would have too much time in the air that day. That would violated safety standards, so we had to tell them we could not complete the flight.”

“Here are a few things to keep in mind when big mistakes feel like the end of the world. Don’t delay bad news. If you don’t let people know about an issue, you’re hurting them and potentially creating an even bigger problem. Trust yourself When you make a mistake and say, ‘Here’s what I’m willing to do to fix it, and here’s what I’m not willing to do,’ it lets people know what’s most important to you. Being honest and only committing to submit high-quality work are examples of standards to stick by, even in tough situations. Institutionalize your lessons. It’s important to prevent mistakes from reoccurring. After the celebrity incident, we added a new flight support element to our team. Now, when “ASAP” trips are booked, we call customers every 15 minutes within a few hours of the flight for updates on their upcoming flight. Even if there is nothing to report, we touch base so there is no miscommunication.”

 

Click the image to learn about Magellan Jets.

 

How to Be a Better Public Speaker

28 Feb

For many people, public speaking can be tension-provoking, nerve racking, and more — especially for those who do not have much public speaking experience or who are presenting to large audiences.

So, take a deep breath, prepare well, be self-confident, and read these tips from Kevin Getch, writing for BusinessCollective (as presented by Tech.Co):

Be Humble — “Even if you present on a regular basis, don’t get over-confident. Even the pros slip once in awhile. Every moment you have on stage is a gift of people’s time and attention, so you should never turn it away by preparing inadequately.”

Have All Materials Ready Beforehand — “If you’re not able to commit your speech to memory, have a clear outline printed and easily accessible. Your cell phone is not a good substitute. I learned this when I forgot my lines and fumbled with my phone, trying to scroll to the right spot, but the pressure of 500+ eyes got the best of me. What came out of my mouth was a jumble of words. Now, I have hard copies of everything I may need. Print your material in a larger font with extra spacing to make the text easier to see and read. If you’re reading, make sure to look up at the audience often. It keeps people engaged.

Understand the Format of the Presentation — [From Evans on Marketing: Are you presenting on a stage or on the same level as the audience? Will you use a microphone? How much time do you have? Will there be a Q&A after the presentation? Are you presenting alone or with others? Are audience members experts or novices on your topic? Are PowerPoints and/or handouts expected? Etc.?]

Remember, Everybody Has Had Embarrassing Moments — “Rand Fishkin, a founder of Moz told me a story of his own. The greatest and most successful leaders in history have all experienced embarrassment and failure. In life and business, there will be times when you fail and times when you’re embarrassed. It’s going to happen. If there’s anything I’ve learned, it’s that you have to be comfortable with being uncomfortable in order to succeed.”

Practice Embarrassing Yourself — “While there may be consequences for poor judgment, taking chances often leads to a greater reward. As a leader, if you can’t accept your mistakes, you hold back your personal growth, your team’s growth and your company’s. It’s better to create an environment where people are encouraged to try new things and get out of their comfort zone, especially in low-pressure situations.

 
Click the image below to read more.
 

 

Are You Vigilant in Protecting Your Reputation?

22 Feb

Whether we are reviewing our company’s reputation or our own personal self-brand, the results may be challenging because of the spread of fake news and the proliferation of negative social media comments. What we hope for perceptions of our reputation may not be in sync with the way others see us. And having a favorable reputation is critically important.

What can we do to have a well-respected reputation? Consider these suggestions from Sapir Segal, writing for Marketo:

Social media marketing requires a lot of patience and maintenance. Once you’ve established your social media presence and are generating engagement and measuring your ROI, the most important stage is to protect your hard work. Monitoring and protecting your social media presence from decline or extinction is just as pivotal as demonstrating it in the first place.”

“Controversial posts, account hacks, and inadvertent mistakes are all examples of threats that could harm your brand’s reputation. Luckily for marketers, many of these troubling factors are avoidable or correctable. To protect your social media reputation, you must have a careful eye for potential problems, a plan for handling crises, and a team you trust to write and manage the content. Here are three common mistakes that plague social media marketers: (1) unsupervised content publishing; (2) controversial content; and (3) account hacking.”

 

Click the image to read Segal’s solutions to these problems!

 

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