Social media. Mobile. Big data. Enterprises have been busy rolling out ad campaigns using the latest tools. Marketers who are on the leading edge of all things mobile might believe that consumers will buy because they’re intrigued by the technology behind the ad. The Fournaise Marketing Group says that it’s far more important for marketers to focus on developing a product and then communicate the product’s Customer Value Proposition (CVP) to ensure a solid ROI on their advertising investment.
Remember showrooming? Not so long ago, retail giant Amazon encouraged smartphone owners to engage in price comparisons using their smartphones. Amazon is a source of never-ending disintermediating threats to the traditional retail world, including the latest idea from Bezos to have drones deliver products to customers’ doorsteps. However, showrooming is not as popular as it once was. A new IBM report reveals that retailers are successfully counteracting this problem.
Marketers have long relied on sponsorship of events and organizations as a way to get their name in front of consumers. Enterprises believe that consumers who are enjoying themselves at a sports competition or a concert will view the marketers who helped to pay for the event positively. But a new report from the IEG suggests that North American marketers may be cutting back on sponsorship and shifting their spending to newer digital formats.
Marketers know the cost of acquiring a new customer exceeds the cost of keeping an existing customer happy and loyal. One way to improve loyalty is to emphasize the customer experience. The Temkin Group believes 2014 could be the Year of Empathy if marketers strive to enhance the customer experience by listening to consumers and trying to anticipate their needs.
As we move through January and consumers focus on their New Year’s Resolutions, some will be taking a closer look at their household budgets. One line item certain to draw scrutiny is the cable or satellite TV bill. With so many other video entertainment options now available, consumers are increasingly tempted to cut or thin the cord according to Digitalsmiths. This trend has implications for media companies and marketers.
Will 2014 be the year of content marketing? In a post that appeared on Mashable, Shafqat Islam, the co-founder and CEO of NewsCred, came up with his top ten predictions for what marketers will do with content marketing this year. Islam believes that the high rate of smartphone ownership combined with marketers’ drive to reach more consumers will result in a sharp focus on content and social media marketing.
As we approach the end of the year, marketers are taking stock of what has been working well and which strategies they need to change for the future. Adobe just surveyed over 1,000 U.S. businesses on this topic. The company's Digital Distress: What Keeps Marketers Up at Night? report shows what businesses will focus on
B2B marketers are on track to spend over 4% more on advertising and marketing services this year, compared to 2012, and the outlook for 2014 is good. This increase is also on track with spending boosts made by B2B marketers in 2012, a trend that indicates expansion mode for the sector. New research by American Business Media (ABM) shows that digital formats are enjoying a significant interest from B2B marketers but data management and business information services are also in demand.
Consumers are growing more comfortable with the concept of sharing their location with vendors. Most smartphone users understand that tech giants like Google know where they are when they use a mapping service. Now, shoppers are saying they’re willing to share their location data with some retailers, in exchange for something of value, according to Swirl, a mobile-marketing platform provider.
Despite the improving economy, consumers often find themselves in a financial emergency and need credit to get through to the next paycheck. About 15 million U.S. consumers lack access to traditional banks and credit cards and regularly turn to small-dollar credit (SDC) products. These services are provided by pawn companies, payday loan operators and paycheck advance or similar services and often come with high interest rates. To help consumers break this cycle and to encourage industry operators to market new products, the Center for Financial Services Innovation analysts have studied the reasons consumers habitually need SDC services and have suggested new types of services.
Targeting prospective customers solely by age group has fallen out of fashion as marketers have been able to more clearly identify audience attributes in recent years. Age does matter in some circumstances, though, especially in terms of the relationships consumers have with brands. The GfK Brand Benchmark Study reveals that Gen X and Gen Y consumers value brands differently, largely because of the current life stage they are in, and smart marketers are seeking specific kinds of relationships to maximize revenue with these potential customers.
Event and sponsorship marketing is gaining attention as an effective way to increase visibility for advertisers. In the increasingly cluttered media environment, having a banner or logo displayed in front of people who are gathered for an event can make a difference. Marketers may be tempted to engage in more of these kinds of promotions going forward, and a new ANA study suggests that businesses will improve their attempts to measure the benefits they’re receiving from these investments.