Friday 29 July 2016

VMEdu Looks at e-Learning Trends for 2016


Almost sixty percent of online educational providers are ready to kick their LMS to the curb.
A recent report referenced by DDI Development on current e-learning trends asserts “that nearly 2/3 of online courses’ students, as well as their managers, are not satisfied with their current LMS and are not going to renew their subscription.”[1]
As a software development firm, DDI is interested in how these trends affect coding and coders. When their blog says, “New e-learning companies create new learning trends, as their online community is very flexible and quick to abandon LMS solutions that do not meet learners’ needs,” they are seeing opportunities for programmers to write the code that provides the new solutions e-learning companies are shopping for. When VMEdu sees this trend, they know they have that solution already.  
“Unlike other traditional LMS platforms, you do not have to pay any licensing fees, buy expensive hardware or hire expensive software professionals to launch your online courses and mobile apps,” says VMEdu, adding, “traditional LMS platforms usually have negligible support for mobile apps; VMEdu creates best-in-the-industry mobile apps for you at zero-cost for Android phones (if more than 1 hour of video is uploaded for a single course) and $250 for iPhones.”
Based on these differences and their LMS’s connection to the VMEdu Authorized Training Partners (V.A.T.P.) network, the company claims, “You will save more than 90% of your current LMS expenses by using VMEdu– and have signifi­cantly more capabilities than those offered by traditional LMS platforms.”
They explain the value of this connection saying, “Courses created by our V.A.T.P.s can be made available and sold through our fast-growing partner network of 800+ Authorized Training Partners in 50+ countries. This makes your course available to an extensive network of companies, colleges, universities, training companies, and individual trainers and experts. No other traditional LMS platform helps you with customer acquisition.”
The e-learning trend is projected to continue explosively, “It is estimated to reach $200 billion worldwide by 2018 - more than 200 million people actively using various learning management systems,” according to DDI. They conclude that “One of the most important features any MOOC (Massive Open Online Course) should provide is scalability.” This trend makes VMEdu happy because “V.A.T.P.s have the ability to scale their training very quickly with negligible upfront investment. They get to create and launch their courses on their own websites and mobile apps using the VMEdu Cloud LMS.” DDI notes that for scalability, “As of now, only cloud hosting is capable of providing sufficient resources for this task.”
“It appears that 2016 will become a year when Big Data will stop being a distant future and become our everyday reality, so it’s best to keep this in mind when planning statistical algorithms for your LMS technology,” says DDI. The VMEdu Cloud LMS enables “your courses to include videos, tests, study guides, flashcards, and more: students can track the progress of their coursework, and determine improvement opportunities.” The ability to track student progress, manage courses and more is part of the VMEdu LMS’s ability to handle big data. As they are fond of saying, “VMEdu’s state-of-the-art Cloud Learning Management System (LMS) takes care of this!”
A continuing trend is the growth of mobiles: “Mobile LMS technology is supposed to surpass computer counterparts soon (as well as in many other fields of application). Developing mobile LMS apps is vital for any provider aiming for success,” according to DDI. VMEdu says, “We can create the best-in-the-industry mobile apps for your company with your company name and logo. This app can be downloaded from the Google Play Store (for Android Apps) or the Apple App Store (for IOS Apps) and can be used by your students to experience all of your courses. This provides your students the flexibility to study online and on-the-go.”
“Backend as a Service – That’s the one of the trends underlined by Martin Puryear on TechCrunch. Third party services that support chunks of backend tasks are faster to apply than repetitively building generic things. That helps to focus on innovative and competitive aspects of a product,” is a trend Marina Blinova cites in her article on LinkedIn’s Pulse.[2] VMEdu believes that by providing professional trainers and educational organizations with one of the industry’s most robust LMS, those educators can focus on developing the best educational experiences and value for their students.
VMEdu began creating its LMS more than seven years ago. They tested it thoroughly by launching multiple courses and websites, which have now become global leaders in their fields, teaching more than 500,000 students from 150 countries and 3,500+ companies. The VMEdu LMS is hosted on a scalable cloud infrastructure and already hosts hundreds of courses, with more than 50,000 learning resources including videos, questions, case studies, simulated exams, flashcards, study guides and more.
With its professional training and accreditation bodies, innovative LMS and extensive network of training partners, VMEdu has grown to be an industry leader. That growth is one of the most reassuring trends in e-learning today.
[1] “Main E-learning Trends for 2016” (2/25/16). IT News. DDI Development (ddi-dev.com)
Retrieved on 3/3/16 from http://ddi-dev.com/blog/it-news/main-elearning-trends-2016/ 
[2] Blinova, marina (3/3/16), “What do you consider the most promising trend for 2016?” Pulse LinkedIn.com. Retrieved on 3/3/16 from https://www.linkedin.com/pulse/what-do-you-consider-most-promising-trend-2016-marina-blinova?trk=hp-feed-article-title-publish

Thursday 28 July 2016

PPC Advertising


Pay-per-click (PPC) advertising or paid search advertising involves a company paying to have its ad appear on search results pages of search engines. PPC advertising providers such as Google, Yahoo, and Bing show sponsored ads, or paid search results, for most search queries. A consumer intending to purchase a microwave oven for her new modular kitchen may enter a query “microwave oven with convection and grill for home use,” seeking cost and feature information. A chain of electric kitchen appliances would likely then appear as a sponsored result. It is often observed that users with a high intention of making a purchase click on sponsored ads. This is especially true of highly transactional goods such as clothing, electronics, and consumer foods. 
PPC advertising has a significant impact on consumer metrics such as brand awareness and brand image, even among users who do not click on the sponsored advertisements. Image ads tend to be more effective in exerting positive impact and increasing visibility in search results. A consumer seeking a new microwave oven may choose to review multiple electric kitchen appliances advice pages before making a decision.
A business can increase the reach of its website using PPC advertising in the following ways:
Choosing relevant Keywords–keywords are the search terms used by consumers to tell search engines about the specific product or service they are interested in purchasing. For businesses looking for maximizing their reach using PPC or search engine advertising, the focus must be on bidding on keywords that are highly relevant to the search queries that are common in their business. Businesses can make use of their historical data and competitor data to determine the popularity and relevance of various keywords.
The price of keywords can vary greatly, from pennies to several dollars depending on popularity, demand, and the value to the advertiser. The ad’s “quality score”, rank and popularity of the keywords among the competitors determine the price an advertiser has to pay. The quality score is the search engine’s way of determining the relevance of an ad to the searcher by evaluating each keyword’s relevance to the business and its landing page, as well as other factors. The rank of an ad is determined based on its cost-per-click (CPC) and its quality score.
Choosing relevant Geography and Time–search engines have enabled business to analyze their past data to determine where their online customers are located and the best time to reach them. Based on this data and other internal research, businesses can choose the desired geography and time of day in which they should advertise their products and services for optimal results. For small businesses that cater to a local audience, geography-based targeting is especially important and helps ensure that their ads remain relevant.
Profiling the audience–Businesses must understand the profile of their target audience and create “user personas” that will help them identify the relevant ads for their customer base. A young age group may be attracted to video ads, while a more mature audience may prefer an image ad. Audience profiling may also help businesses identify the time of day when their target audience is most likely to make a purchase.
Selecting appropriate Ad sizes–Advertisements displayed on search engines and other third-party sites are available in different sizes, and the digital marketing team must customize their marketing content to the size of the ad being displayed.
Testing various Ads– Search engines allow businesses to experiment with two or more ad options in order to identify the more attractive one, commonly referred to as A/B or multivariate testing. A business can divide its marketing budget between two or more ads to be displayed to a similar audience throughout the day if it is unsure about the most effective advertising message for its products or services.
Customizing Language–businesses can also customize their ads based on the language preference of their target audience to make sure the intended marketing message is relevant and reaches audiences around the world. 
To learn more about PPC advertising, visit SMstudy.com

Friday 22 July 2016

The Millennial Impact


Snapchat, the quick and fleeting photo messaging application, has become increasingly alluring for companies wanting to dip their toes in the “Ephemeral Marketing” waters.  Truthfully, the app had a rocky start entering the digital marketing world, but companies such as McDonald and Chat Sports have now mastered the art.
Snapchat launched in 2012 and currently has 50 million users sending more than 400 million picture or video messages (“Snaps”) per day. That is 46 snaps a second. It’s no wonder companies and marketers want to utilize the app!
Snapchat has several features that are useful in marketing a brand or product. You can send pictures or videos to your followers, but the media will only be visible for up to 10 seconds and then it will disappear, as per Snapchat rules. So, the trick is to use the medium effectively considering the time constraints. Companies have also found the story feature to be very convenient, even if it may sometimes require a workaround. Since users can post snaps to their story, but only users that follow a company can actually see the company’s story, social media strategists put on their thinking caps.
One example of social media “assistance” was used by the American fast-food restaurant McDonalds. McDonalds wanted to employ Snapchat to promote a new product, but they had yet to expand their follower base. The company turned to Twitter, another social media platform, to release a photo from their Snapchat account with the words “stay tuned” written in French fries. This generated a curiosity that in turn built their user base. McDonalds then snapped several pictures on their Snapchat story to ensure their product was seen by all of their followers.
Another example comes from Chat Sports. Chat Sports took a different route in order to grow their following.  The company sent a snap to their followers announcing the opportunity to win free baseball tickets if they could get five of their friends to add “ChatSports” on the app. This expanded their base and also provided the company with the capability to reach their target audience.
There are several other ways for companies to market their brand or product on the app. The NBL snapped behind the scenes videos to promote  games. Taco Bell and GrubHub used the app to send snaps with discount offers. But you better be quick if you want to grap the offer; customer only has ten second to take a screenshot of the coupon before it disappears. Companies have even promoted their live events by urging users to send videos of their experience and send it to the company for free tickets.
As stated in Marketing Strategy, book 1 in the SMstudy Guide®, “It is a fact that people now spend more time on the Internet, via smartphones, tablets, or computers, than they spend on conventional mass media, such as television, radio, or newspapers. This is especially true for the thirty-year-old and younger market segment. Since sales and marketing is most successful when it meets the demands of consumers, this change in consumer preferences is significantly altering the sales and marketing landscape for established companies. Businesses are discovering that conventional mass media marketing has limited effectiveness and some customer segments are not even reachable using these traditional media forms. “
A study done by re/code gets to another reason why companies are so keen on Snapchat. Out of the 50 million Snapchat users, 84 percent are Millennials. If Millennials are your target,  then where else would you want to be! Contrary to popular belief, this doesn’t mean that Millennials have a short attention span, it’s that the attention that is given needs to be quick and genuine which is exactly what Ephemeral Marking promotes. 

Thursday 21 July 2016

Levels of Sales and Marketing Strategy


A company enjoying a good reign must possess an assortment of umbrellas.
Beneath the wide umbrella of Corporate Strategy exists a smaller umbrella known as Corporate Marketing Strategy, which covers Business Unit and Geographic Strategies. Those, in turn, are further divided into particular Product or Brand Strategies for each product or brand.
This figure illustrates the relationship between the various strategies:

The Corporate Marketing Strategy is defined at a corporate level and outlines the overall marketing goals for the company. These general marketing goals drive more specific marketing strategies for each of the company’s business units or geographies. Each business unit or geography defines its own goals, which become relevant inputs for each area’s particular product or brand marketing strategies. Each product or brand marketing strategy defines sales and marketing objectives for each product or brand, which drive specific tactics that align with and often rely on other Marketing Aspects identified in theSMstudy® Guide (Marketing Research, Digital Marketing, Corporate Sales, Branding and Advertising and Retail Marketing).
Here is an example of Levels of Sales and Marketing Strategy:
Land Development Company
  • Corporate LevelA land development company wants to grow to be among the top three land development companies in its state.
  • Business Unit/Geographic LevelThe land development company operates two business units: residential and retail. A goal of the residential business unit is to grow that unit by 12 percent within one year; a goal of the retail business unit is to grow that unit by 10 percent within the same time period.
  • Product/Brand LevelWithin the residential business unit, the company sells three products: condominiums, town homes and singles. The singles Product Marketing Strategy identifies an objective to grow the sale of single units by 15 percent. To achieve this objective, the teams responsible for building strategy within the various Aspects of Marketing establish specific objectives that are designed to support the overall product objectives and to align with one another.
  • Marketing Aspect Level­The company’s greatest strength is the fact that it is an award-winning leader in green sustainable development. Therefore, the branding and advertising team builds specific tactics that incorporate an increase in reach of its messaging around sustainable development. One specific tactic is to leverage billboard and newspaper advertising with the objective of increasing reach of green messaging by 30 percent. The digital marketing team incorporates tactics to support the objective of increasing the green sustainable development messaging, stressing the importance of this trend and positioning the company as a leader in the industry through the use of various social media channels. One specific tactic is to leverage blogs and online public relations with the objective of increasing the company's rankings in online searches related to keywords such as “sustainable development.” The tactics of each Marketing Aspect are aimed at achieving their own specific objectives; however, both support the overall singles Product Strategy objective of achieving a 15 percent growth in sales for this product line.
When seeking sustained success, a company should equip and adhere to a comprehensive Corporate Marketing Strategy. That umbrella has you covered.

Wednesday 20 July 2016

Market Analysis


A local company may boast the best surfboards around, but if it is situated in the Texas Panhandle a lack of sales could make waves. Similarly, a retirement home attempting to attract business through the latest technology might soon find itself in its twilight years. Companies that aspire to achieve sustained success in the marketplace must first perform a market analysis.
Market analysis involves examining market data to identify patterns and predict future events. The purpose of performing a market analysis is to understand the attractiveness of a market. David Aaker outlined the following dimensions of a market analysis:
  1. Market Size—This dimension defines the size and potential of the markets under consideration. Market size is calculated on the basis of current sales volume for the market. Another important consideration for measuring market size is its future growth potential, so appropriate assumptions need to be made regarding market growth rates.
    Example of Market Size: The market for sports equipment typically varies from region to region. In areas with longer summers, the demand for tennis and golf equipment is generally higher. In mountainous regions there is a larger demand for skiing and hiking apparel. The population in regions may be similar, but the market size of each region may vary greatly for each specific product line.
  2. Market Trends—Trends show the overall growth or decline of a market, competitor activities and customer behavior over time. Current market trends can also help in predicting future market trends.
    Example of Market Trends: The timing of major sporting events often results in an increased demand for particular products. For example, branded soccer balls and jersey sales increase every four years leading up to and during the World Cup.
  3. Market Growth Rate and Profitability—Market growth rate forecasts use previous data and future trend indications to predict the future growth rate of markets. Product diffusion curves are used to predict inflection points in growth projections. Market profitability is often evaluated using Porter’s Five Forces model.
    Example of Market Growth Rate and Profitability: As international trade and growth in developing countries increase, it is possible to evaluate the potential acceptance rate of hi-tech features on bicycles in markets traditionally dominated by low-cost versions. For example, observing the patterns of user adoption of ceramic disk brakes in France may lead to an understanding of similar patterns in countries such as China.
  4. Industry Cost Structure—Value Chain Analysis can be used alongside industry cost structure to identify value-adding activities and reduce costs by eliminating those activities that do not add value. Focusing on activities that are critical to the company can help develop a competitive advantage and prevent wastage of resources.
    Example of Industry Cost Structure: In the twentieth century, the banking industry typically relied on physical branches for addressing customer needs. However, the cost structure for the industry has changed significantly in recent times, with many customers preferring to do most of their banking transactions online, or through Automated Teller Machines (ATMs).
  5. Distribution Channels—Analyzing the effectiveness of existing distribution channels and identifying emerging channels help a company understand its ability to reach customers and identify new opportunities to gain a competitive advantage. Companies with existing distribution channels may find it easier to launch similar types of products targeted at similar market segments.
    Example of Distribution Channels: As with most other industries, online sales and distribution have greatly impacted the marketing and sale of sporting goods. Online representation of the value of the product is crucial to ensure the customer is comfortable enough with the product to purchase it without actually being able to touch it. Relationships with shipping companies become equally important as the customer expects quick and reliable delivery.
  6. Key Success Factors—Identifying key success factors helps an organization focus on existing strengths that have contributed to success and seize opportunities that can give it a competitive advantage. Such factors might include accessibility to essential resources, distribution channels, patents, operational efficiencies, technological superiority and so on.
    Example of Key Success Factors: The success of an online swimwear provider may be quantified with a few key factors such as the ability of the customer to receive clothing that fits without the benefit of trying it on, the ability of the company to keep shipping costs low enough to compete with brick-and-mortar stores and the ability to offer a broad range of product choices to maximize the overall appeal of the site.
Companies searching for success must be prepared to execute when presented with the opportunity. The prep work of any marketplace resident should include analyzing market size, market trends, market growth rate, industry cost structure, distribution channels and key success factors.
David Aaker’s outline of the dimensions of a market analysis can be found in Aaker, D.A. (2010), Marketing Research, New Jersey: John Wiley and Sons.

Tuesday 19 July 2016

Can You Really go Viral?


Lately, I have been asking myself, “Why do companies really push their marketers to go viral?” Only 15 percent of marketing material actually goes viral, so why not push for something more realistic? I get that companies want to “Go big, or go home,” but this mindset just wastes marketing dollars.
Going viral literally just means the number of views your campaign reached. So, the obvious choice to get your marketing to the masses is social media. According to Jason Akeny, a contributor at Entrepreneur, “Getting your brand noticed via social media grows more difficult with each passing day. Users upload 100 hours of video to YouTube every 60 seconds and share more than 4.75 billion pieces of content on Facebook every 24 hours. Add to that 500 million new tweets per day, and the chances of breaking through to a wider audience can seem virtually nonexistent.”
The companies that have mastered the art of going viral, such as T-Mobile, Similac and Chipotle also have the marketing budget, for lack of better words, to waste when it comes to focusing on going viral. So, what can small businesses do to reach this same level of success? The truth is going viral isn’t an effective marketing strategy. This may be a hard pill for many to swallow, but it is still possible for those smaller companies to go viral, it just can’t be the end goal.
There is also the misperception that if you produce more content then it has a higher chance of reaching more people. But it will most likely just get lost in the social media ocean of information. Companies need to focus their attention on what their marketers are producing; quality not quantity. 
“An assumption can be defined as anything that is considered to be true without proof,” states Marketing Strategy, book one in the SMstudy® Guide. So, going viral is really just that, an assumption. How do we prove how to go viral? As stated in the book, “Competition analysis involves examining the competitive landscape for competing products with a view to understanding the company’s current product portfolio relative to other products and determining opportunities for product differentiation.”
This does not necessarily mean that an analysis should be done for a company’s specific industry, but rather for many industries in order to find that proof. When it comes to creating viral content there is no formula, but evaluating how other companies achieved their success is a good place to start.
Companies that are looking to successfully market their brand (this is what the main focus should be) need to think outside of the box. Madison Avenue has always struggled to market feminine product companies. Women just don’t associate their “special” time of month with dancing on the beach in white pants. In 2013, HelloFlo, a subscription-based company that delivers feminine products right to one’s door launched.
The new brand was barely keeping their head above water when they decided to try something a little different. They decided to be honest. “The Camp Gyno” hit YouTube in the summer of 2013 and within 24 hours it became the ad of the day and reached 6 million views in its first month. Not too shabby for a product that was produced on a small budget.
It is possible for small businesses to go viral, but that doesn’t mean it should be the goal. The goal should be to create quality content that breaks away from the norm and makes people think, laugh, or even cry. Producing a content mill will not reach your prospective consumers, but creating the right content will. Stop wasting your time producing a lot of content when you could be producing the right content. Go ahead, I dare you.  
For more information and interesting articles go to SMstudy.com.

Monday 18 July 2016

How to get Social Media Goers to Share your Message


Out with the old, in with the new. This motto has taken a whole new meaning with the advent of the Internet. Technology is changing at such a fast pace that people and companies need to be willing to keep up. Today, social media is redefining the way people share information. Before, if we read an interesting article you could call up a friend and share the information verbally. Now, you can literally share information and visuals almost instantly with your entire network by simply clicking a button.
It makes sense that companies would want to advertise their brands on social media to maximize their reach, but how do you utilize social media in a positive and productive manner? Because in the digital age, sharing is the key to social success.
According to Digital Marketing, book 2 in the SMstudy Guide®, “Consumers share content they like or find useful; thus, a high number of shares indicates that a large number of customers or potential customers perceive the company as helpful and knowledgeable and, by extension, may be more likely to purchase the company’s products or services.”
You can easily spread your brand successfully with the help of social media with three easy steps:
  1. Get on board- everyone and everything is on social media right now. Social media is a source for free advertising, so companies cannot afford to miss the opportunity.  If you are not advertising your brand on social media, you are making a serious mistake. 46 percent of people said that companies that are proficient at social media marketing are viewed as more credible. So, if you aren’t utilizing social media then you can potentially be viewed as untrustworthy.
  2. Create the right content- 73 percent of people process information more thoroughly when they share something. So, a company must ensure the content is engaging, easy to grasp, and attention-grabbing. You can increase engagement by following one simple rule: create content for your audience, not for your business. Identifying trending topics also makes content feel tailor-made and makes your company look up to date with the current market.
  3. Use Visuals- Visuals are processed 60,000 times faster than text. Thanks to the rise of social media, customer’s attention spans are shorter and they expect more from an advertisement. So, visuals are a great way to boost engagement. Studies prove that images and videos drive more customer engagement which means more sharing. The image must capture the essential message of the brand. If the image does not align with the product consumers will skip it rather than share it. Your image needs to be visually appealing enough to drive audiences to your website for more.
Social media marketing is like oxygen for small business and start-ups, so in order to keep on keeping on, you must simply inhale. Happy Marketing!!
For more information and resources visit SMstudy.com

Friday 15 July 2016

Shifting Techniques: From Conventional to New-Age Marketing


In the twentieth century, with the increase in the number of manufacturers and industries for specific products, consumers had numerous options to buy from multiple manufacturers. Manufacturers faced the need to differentiate their product and thus mass media marketing was born. Primary channels used for mass media marketing were print advertising, mass mailers, television, radio, and outdoor advertising. The objective of conventional mass media marketing was for organizations to create strong brands and differentiated brand perceptions so that consumers would desire and purchase their products rather than those of competitors.

However, in recent times, the media have become increasingly fragmented with several hundred television and radio channels as well as a large variety of print media including newspapers, magazines, and trade publications. With the increasing popularity of the Internet and, more recently, smartphones, many options now exist for advertisers to reach a global audience using digital media marketing methods such as cell phone apps, Google, Facebook, Twitter, LinkedIn, YouTube, QR codes, gamification, and proximity marketing. All of these options have resulted in fragmented new-age marketing. Some characteristics of fragmented new-age marketing are as follows:
  • Fragmented new-age marketing suits new, small brands with much smaller budgets targeted directly to customers in a global marketplace. Thus, it enables small companies and startups with smaller budgets to achieve a global reach.
  • New-age marketing is data-driven and more centered on driving specific calls to action. Also, new-age marketing is about engagement, unlike mass media marketing, which involves interruption.
  • Sales and Marketing communications have increasingly become multi-directional in new-age marketing. The producers can reach consumers directly; similarly, consumers can share their feedback with producers and other consumers.
  • Huge amounts of data gathered by multiple media forms and the ability to process the data through proper marketing analytics and generate valuable insights has given rise to the newest trend of "smart marketing."
These characteristics provide compelling reasons for companies to shift their focus toward fragmented new-age marketing. Marketers evaluate all media in terms of who the target audience is and what media resonates best to arrive at an integrated approach to marketing by leveraging the strengths of various types of media.

Thursday 14 July 2016

The Search for Social Media Insights


It may be time to recognize that data collected from social media will not so easily reveal its immediate impact on a company’s sales (as we’ve said before, it’s proven to be a bit slippery). But this doesn’t mean the baby should be thrown out with the bathwater. In finding ways to prove its value, social media marketers are changing the conversation away from a cause/effect relationship between a company’s marketing and its ROI to a deeper understanding of social data’s value. And as it turns out what it offers is way more valuable- the unprecedented parse-able social insights of a population.
In a recent post, we explained that the number one problem facing social media marketers today is tying social data to an increase in the bottom line (or the sales of a product or service). The challenge of “proof,” in turn, was making it harder to make a case for additional investment in social media marketing.
We said, “Demonstrating the value of the social programs within the company was, in fact, the top challenge noted (60%) by survey participants consisting of 600 media marketing professionals.”
 The State of Social Marketing 2015 report by Simply Measured states, “Companies of all sizes and maturity levels are struggling to prove the value of their social programs. Social media activities can be difficult to quantify, and marketers are trapped between readily available “vanity metrics,” such as Likes and followers, and difficult-to-measure objectives such as brand awareness.”
We went on to suggest that unless there’s a collapse of the capitalist system, better tools will surely arise to address the challenge. But we also noted, of equal, if not greater importance, would be the ongoing discovery of more creative and accurate ways to query the data.
As marketers hone in on methods to extract the gold nuggets of consumer intel out of the mountain of information, they’re hitting upon the true capital of social media- the most comprehensive picture of consumer behavior, sentiment and decision-making process they’ve ever been blessed to lay hands on. This might not be the smoking gun that ties directly to a sale, but, in fact, presents many more gifts in the long run as John Donnelly III, SVP of global sales and marketing at Crimson Hexagon, points out.    
 “One of the most effective ways to glean consumer insights is by analyzing social media conversation… sales teams are realizing that social media is rife with information about what their prospects care about, how they consume media and what motivates their decision-making,” said Donnelly.
Based on Donnelly’s presentation and other insights, here are some ideas to consider when taking the dive into social data.  
Get granular. Almost any question a marketer has regarding brand perception, market competition and the general sentiment of people discussing a product or brand can be found through social media analytics, so ask away.
Getting granular also let's marketers zero in on microsegments of the population that either are or can be Word-of-Mouth advocates for a brand or product.
Word of Mouth is the golden standard for all marketers. The ability to target Word-of-Mouth advocates on social media can be the difference between success and failure. Writing for convice&convert, Devon Wijesinghe discusses the importance of Word of Mouth and how it can be used.
“This rich source of information comes in handy when you’re looking to generate Word of Mouth about your brand. Tapping into the “right” market segments—segments whose interests and values are aligned with your brand—can be the catalyst your campaign needs,” Wijesinghe said.
Layer trending topics on top of a hyper-targeted market segment (both bits of information available through social media data analysis) and a marketer has made a happy marketing marriage.  
Focus groups may be passe according to some, but testing is still very much a part of the marketing strategy. From a product standpoint, social media insights can reflect the strengths and weaknesses of a product’s lifecycle as well as the effectiveness of current marketing efforts. Filling the role of the modern-day focus group, social media insights are also valuable for taking the temperature of the public on an idea such as a logo or slogan, a product or service. Testing the social media world’s tastes and perceptions allows for adjustment before launching, saving money and perhaps even preventing a catastrophic mistake.  
Social media data is virtually limitless (pun optional) and social media marketers are stepping up and learning how to use it best. We expect to be reading many more social media data “hacks” in the future. Stay tuned.
Visit smstudy.com for additional articles on sales and marketing. 
Sources:
"How to Sell Smarter Using Social Insights," Devon Wijesinghem http://www.convinceandconvert.com/social-media-measurement/social-insights/
The State of Social Marketing- 2015, Simply Measured, http://simplymeasured.com/#sm.0001gymsunkgqdcepli19xtqnlo4p

Wednesday 13 July 2016

Refer a friend!


Word-of-mouth referrals are the ultimate endorsement for a company, its products, services and staff. Referrals are therefore considered the gold standard of customer acquisition in many fields. But what can be done when the excellence of your salesmanship isn’t equating into a steady stream of referrals? When you’re giving it 110% and still not feeling the referral love?
When referrals aren’t being generously doled out by past or current customers, a smart referral program can be just the right form of encouragement they need to extol you and your company’s virtues. According to the SMstudy® GuideCorporate Sales, referrals may happen on their own, but companies can also influence referrals through appropriate online marketing strategies.
The book states, “The key to a good referral program is not only to drive customer acquisition in the short term, but also to engage new and loyal customers, encouraging them to act on their brand advocacy.”
Incorporating a smart creative program can definitely be a win-win-win situation, benefiting the existing customer, potential customer and sales team.
The pluses of incorporating a referral program are noteworthy:
 A reduction in marketing costs. Satisfied customers are now incentivized to sing your praises and steer potential customers in your direction.
An improvement in customer satisfaction. Existing customers can engage and benefit from a referral program.
An all-around better Return on Investment (ROI).
After deciding to embark on a referral program, it’s time to put on the proverbial “thinking cap” and figure out what can be offered as a worthy token of a customer’s loyalty and how it can best be presented to customers. Every company is different but many find that offering what is within their wheelhouse enhances brand recognition and builds an ongoing conversation with customers.  
For example, the cloud-based file hosting service, Dropbox, ran a very successful referral campaign that offered 500MB of free storage to both the referrer and the referee. Sited by ReferralCandy as their #1 Best Practice Referral example, Dropbox experienced a 60% increase in sign-ups, beginning in September 2008 with 100,000 users to 4,000,000 in January of 2010. In addition, Dropbox noted that 35% of its daily enrollment was via their referral program.
In their article, “How Referrals Built a $10 Billion Dropbox Empire,” ReferralCandy places Dropbox’s program at the pinnacle of all referral programs for a few distinct reasons. Besides the general benefits noted above, smaller details helped set Dropbox apart, including:
A built-in referral process. Step 6 in the Dropbox sign up process… “Invite some friends to join Dropbox.”
Offer a gift, don’t ask a favor. Dropbox offers more free storage space to new members instead of asking them to refer a friend.
Make the referral process painless. Offer convenience with a choice in referral methods. Simple social media and email options are optimal.
Let the customer behind the curtain. Dropbox allows users to check on referrals via their dashboard.
Keep the train running. A confirmation email indicating when a referral has responded includes the option to refer another person. So, instead of being a one-time only affair, Dropbox has created a referral loop and as long as it maintains its appeal, it will continue to draw in referrals.
We’re always hoping well-earned referrals will be forever flowing in, but when they’re not, referral programs such as the one used by Dropbox have the potential to fire up our customers.
And as a final thought, consider this…ReferralCandy suggests that if advertising had been their only means of acquiring customers, Dropbox would have failed.
Not only did referrals allow Dropbox to escape death, it allowed them to avoid all traditional ad spend. That in turn would have allowed them to focus their resources on making a better product- further cementing their competitive advantage,” they said.
For more articles on sales and marketing, visit smstudy.com.
Image courtesy of JD Hancock, Flickr. https://www.flickr.com/photos/jdhancock/6023780563/
Sources:
SMstudy® GuideCorporate Sales, pg. 172-173.
“8 Proven Steps to Double Your Referrals from Other Attorneys,” Stephen Fairley http://www.attorneyatlawmagazine.com/phoenix/8-proven-steps-double-referrals-attorneys/
“Referral Program Examples – An Epic List Of 47 Referral Programs,” ReferralCandy, http://www.referralcandy.com/blog/47-referral-programs/#best-practices
“How Referrals Built The $10 Billion Dropbox Empire,” ReferralCandy, http://www.referralcandy.com/blog/referrals-built-dropbox-empire/

Tuesday 12 July 2016

What Do You Do When Your Boss Says Prove It


If you’ve ever found yourself having to defend the merits of social media marketing, you’re officially not alone. A recent report on social media marketing in 2015 reveals the struggle that still exists in pinpointing the almighty ROI of social marketing to that skeptic saying “yes, I see what it does…but how does it help?” Usually that skeptic is the boss (in some way or another) and the answer is not so easy to nail down. Social media is proving to be a little slippery.

The newly released The State of Social Marketing 2015 report by Simply Measured cites three major challenges that were impacting social media marketing in 2015. 

They are:
1.    demonstrating the value of social programs within the company; 
2.    overall business integration; and
3.    not having the right tools to measure social media activities. 

Demonstrating the value of the social programs within the company (#1) was, in fact, the top challenge noted (60%) by survey participants consisting of 600 media marketing professionals.
The reports states, “Companies of all sizes and maturity levels are struggling to prove the value of their social programs. Social media activities can be difficult to quantify, and marketers are trapped between readily available “vanity metrics,” such as Likes and followers, and difficult-to-measure objectives such as brand awareness.”

It goes on, “When it comes to understanding, proving, and quantifying value, social marketers are still trying to find the sweet spot.”

It’s logical to consider (as the report does) that the “sweet spot” could be found by addressing the challenge of #3. or “Not having the right tools to measure social media activities,” which according to the same 600 marketers, is a major frustration for those attempting to work with current analytics options. In addition, they noted the dissatisfaction with their current set of tools and the difficulty of interpreting the data they do have. And here’s the really frustrating bit, it’s hard to drum up enthusiasm and encourage further investment when the current tools or methods don’t allow marketers to provide highly accurate data which would, in turn, drum up enthusiasm and encourage further investment. And the wheel goes round and round. 

Finding the right tool for the right job seems to be an essential part of the plan. In the area of data analytics tools, the report suggests either an inability to hone in on what is truly needed or simply an area that hasn’t been fully addressed in regards to tool development. According to the report, most surveyed are using multiple tools for tracking the various social media channels and as many as 65% said they were using the platform’s native analytics tool.
 
All that being said, the future looks very sunny for social marketing. Tools will emerge that address the needs of social media marketers. Social media marketers will become more adept at interpretation. Chances are both will occur (are occurring). 

And whether the frustrations continue on or are assuaged in the coming year, it might not matter. As squishy as the analytics may appear to the bosses, they’ve seen enough “proof” to increase social marketing budgets, on average, by 12.5% over the next five years from 2015’s 9.9% to 22.4 in 2021. 

For more on sales and marketing, visit www.smstudy.com.
Sources: 
The State of Social Marketing- 2015, Simply Measured, http://simplymeasured.com/#sm.0001gymsunkgqdcepli19xtqnlo4p

Monday 11 July 2016

Words are great, but color is better when it comes to social media marketing


Social Media is a multimedia experience. Content is shared in a myriad of forms: video, text, photo, audio clip, gif, etc. All can benefit a company’s brand in the effort to reach viewers. But we now know that color plays a very important part in brand perception. According to recent research, the color palette creates the mood and feeling of a brand that ultimately drives consumer behavior. Color, when used effectively, has the ability to connect with the subconscious (gut feeling) which can be a direct line to a positive customer action.
However, there are some who still argue that the perception of color is too dependent on personal experience to have universal applications such as the psychology researchers at the University of California, Berkeley who learned that, "personal preference is determined by all the entities you've encountered of that color and how much you liked them."
Although this may be true in some cases, the true benefits of color in marketing are apparent when the “perceived appropriateness” of the color being used fits the brand image and feel. 
As author Gregory Ciotti states, “certain colors do broadly align with specific traits (e.g., brown with ruggedness, purple with sophistication, and red with excitement). But … it’s far more important for your brand’s colors to support the personality you want to portray instead of trying to align with stereotypical color associations.”
A company creating or revamping their brand image should consider long and hard the colors they select. Color choices that enhance the feel of the brand will be perceived as successful and more impactful than color choices that are at odds with the desired feeling of the company.
Ciotti continues, “Focusing on the way colors affect the feeling, mood, and image that your brand creates that play a role in persuasion. Be sure to recognize that colors only come into play when they can be used to match a brand’s desired personality (i.e., the use of white to communicate Apple’s love of clean, simple design).”
The study of color theory is vast and much information can be found online, but for a basic introduction, check out this video on branding and color…

When done wisely, color choice will lead to successful brand recognition and even instill a sense of trust. Ideally correct color application will positively affect the company’s brand perception metrics, including brand loyalty, brand recall, “top-of-the-mind recall” or “share of mind” and the ultimate, “share of heart” metric.
According to the SMstudy Guide, the “share of heart” metric indicates the highest level of brand loyalty and recognition. The book states, “A high ‘share of heart’ indicates a very strong connection between the brand and its customers…and that the marketing strategy is effective at communicating and delivering the value needed by its customers.”
Harnessing the power of color (and applying it appropriately) will enhance a company’s social media marketing and has the potential to increase viewer and customer engagement no matter what form of media is being shared.
For more interesting articles on social media marketing, visit - www.smstudy.com/articles
Sources:
“The Psychology of Color in Marketing and Branding,” Gregory Ciotti, Aug. 6, 2013. http://www.helpscout.net/blog/psychology-of-color/
“Color Preferences Determined by Experience,” Emily Sohn, Oct. 1, 2010 http://news.discovery.com/human/evolution/colors-preferences-evolution-style.html

Thursday 7 July 2016

The Search for Social Media Insights



It may be time to recognize that data collected from social media will not so easily reveal its immediate impact on a company’s sales (as we’ve said before, it’s proven to be a bit slippery). But this doesn’t mean the baby should be thrown out with the bathwater. In finding ways to prove its value, social media marketers are changing the conversation away from a cause/effect relationship between a company’s marketing and its ROI to a deeper understanding of social data’s value. And as it turns out what it offers is way more valuable- the unprecedented parse-able social insights of a population.
In a recent post, we explained that the number one problem facing social media marketers today is tying social data to an increase in the bottom line (or the sales of a product or service). The challenge of “proof,” in turn, was making it harder to make a case for additional investment in social media marketing.
We said, “Demonstrating the value of the social programs within the company was, in fact, the top challenge noted (60%) by survey participants consisting of 600 media marketing professionals.”
 The State of Social Marketing 2015 report by Simply Measured states, “Companies of all sizes and maturity levels are struggling to prove the value of their social programs. Social media activities can be difficult to quantify, and marketers are trapped between readily available “vanity metrics,” such as Likes and followers, and difficult-to-measure objectives such as brand awareness.”
We went on to suggest that unless there’s a collapse of the capitalist system, better tools will surely arise to address the challenge. But we also noted, of equal, if not greater importance, would be the ongoing discovery of more creative and accurate ways to query the data.
As marketers hone in on methods to extract the gold nuggets of consumer intel out of the mountain of information, they’re hitting upon the true capital of social media- the most comprehensive picture of consumer behavior, sentiment and decision-making process they’ve ever been blessed to lay hands on. This might not be the smoking gun that ties directly to a sale, but, in fact, presents many more gifts in the long run as John Donnelly III, SVP of global sales and marketing at Crimson Hexagon, points out.    
 “One of the most effective ways to glean consumer insights is by analyzing social media conversation… sales teams are realizing that social media is rife with information about what their prospects care about, how they consume media and what motivates their decision-making,” said Donnelly.
Based on Donnelly’s presentation and other insights, here are some ideas to consider when taking the dive into social data.  
Get granular. Almost any question a marketer has regarding brand perception, market competition and the general sentiment of people discussing a product or brand can be found through social media analytics, so ask away.
Getting granular also let's marketers zero in on microsegments of the population that either are or can be Word-of-Mouth advocates for a brand or product.
Word of Mouth is the golden standard for all marketers. The ability to target Word-of-Mouth advocates on social media can be the difference between success and failure. Writing for convice&convert, Devon Wijesinghe discusses the importance of Word of Mouth and how it can be used.
“This rich source of information comes in handy when you’re looking to generate Word of Mouth about your brand. Tapping into the “right” market segments—segments whose interests and values are aligned with your brand—can be the catalyst your campaign needs,” Wijesinghe said.
Layer trending topics on top of a hyper-targeted market segment (both bits of information available through social media data analysis) and a marketer has made a happy marketing marriage.  
Focus groups may be passe according to some, but testing is still very much a part of the marketing strategy. From a product standpoint, social media insights can reflect the strengths and weaknesses of a product’s lifecycle as well as the effectiveness of current marketing efforts. Filling the role of the modern-day focus group, social media insights are also valuable for taking the temperature of the public on an idea such as a logo or slogan, a product or service. Testing the social media world’s tastes and perceptions allows for adjustment before launching, saving money and perhaps even preventing a catastrophic mistake.  
Social media data is virtually limitless (pun optional) and social media marketers are stepping up and learning how to use it best. We expect to be reading many more social media data “hacks” in the future. Stay tuned.
Visit smstudy.com for additional articles on sales and marketing.