Brand Awareness: The Importance of Facebook

Brand Awareness: The Importance of Facebook

 

Youtube, Coca-Cola and Starbucks are just some of the most popular brands according to “fans” on Facebook.  Companies that have yet to embrace Facebook as an important marketing tool, are missing the boat.  Gourmet Marketing explained, “Businesses carve out an identity and following of customers through Social Media…none is more central than Facebook.”

Seattle Local Marketing’s article Tips on How to Find Fans for Facebook Fan Page stated, “Why is Facebook so useful? If you want to pull a lot of people to look and find out about your business then, the best way is Google since majority of these people use this search engines. However, Facebook comes almost as second in being one of the most accessed sites in the world.”

Social Media Today recently ran an article titled 15 Ways to Use Facebook for Business.  By creating a Facebook page, businesses can create a forum for discussion, facilitate word of mouth, research and test-market products, list press releases, and even hold contests.

Simply Zesty’s article Beer Company Generations $50.7 Million from 400,000 Facebook Fans demonstrates the impact on Facebook fan pages. New Belgium Brewing, “recently surveyed their Facebook fans and found that on average, their fans are spending $260 annually on the company’s products. This equates to $50.7 million in annual revenue, with 400,000 Facebook fans spread out across their products. Not a bad return on investment, given that the company had invested just $235,000 in 2011 in social media campaigns.”

 

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Top Links Explaining Texting (SMS) and Short Codes

 

Just as Twitter has grown to be an important marketing tool, texting is not just for stating LOL anymore. There are some very important uses for texting, aka SMS (short messaging service). Check out some helpful links to explain texting terminology and uses:

  1. Donate to Charity – Pew Research recently reported that almost 1 in 10 Americans donate to charity through texting.
  2. Search Sites Like Google – By texting GOOGL (46645), you can search Google without opening your browser. Check out:  Six Things You Never Knew Your Cell Phone Could Do. Word/number texts like GOOGL (46645) are called common short codes.  Check out:  Basics of CSCs to find out everything you need to know about common short codes.
  3. Send and Receive Email – To find out how to use SMS to access email, check out:  16 Things You  Can Do With SMS Text Messages.
  4. Check the Weather – By texting 4CAST (42278), you can access weather forecasts.  Check out:  Five Great Things You Can Do With a Text Message For Free.
  5. Check Calendar – By texting GEVENT (48368), you can access your Google calendar and schedule appointments.  Check out: Ten Terrific Things You Can Do With Text Messaging.
  6. Track Packages – Your SMS can track your UPS, Fed Ex, DHL and other packages through TrackThis.  Check out:  Run Your Life with SMS:  10 Things You Didn’t Know You Could Do Via Text.
  7. Learn Texting Abbreviations – You may know LOL, but there is an entire site of information dedicated to explaining what all of those text messaging and online chat abbreviations mean and text message abbreviations.
  8. Text From a Computer – If you have a computer and someone’s 10-digit phone number, you can text them without needing a phone.  The following explains how to text people based on their carrier (i.e., Verizon, AT&T, etc.):  Text from a Computer.
  9. Create a Common Short Code (CSC) – You can create your own CSC campaign by leasing a code.  Check out:  Obtaining a CSC.  Remember the CSC is like GOOGL or 4CAST noted above.  Keep in mind that leasing the code is the first step. You’ll still need to negotiate agreements with each of the wireless carriers to activate your short code. To be part of the CSCA directory listing, click here.
  10. Enhance Business – Business can utilize short codes for contests, lead capture and more.  Check out:  Top 10 Business Goals Enhanced by Short Codes.

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Unusual Uses for QR Codes in the Classroom and Job Market

 

QR codes are those little barcode looking squares that are popping up everywhere.  They are an excellent marketing tool.  They have some unique applications as well.  The article 50 Great Ways to Use QR Codes in the College Classroom lists some unusual uses such as:

  • Using QR codes on name plates to find instructor office hours
  • Adding QR codes to the syllabus to link to classroom calendar
  • Adding to class announcements to create buzz for upcoming events
  • Linking QR codes to lectures, videos or answers to commonly asked questions
  • Linking QR codes to digital portfolios

These are just some of the unique classroom uses.  Click on the link above to read all 50 uses.

For more articles about using QR Codes check out:

How to Use QR Codes on Your Resume and Business Cards

QR codes are the latest thing in marketing.  They are in the newspapers, on billboards and on just about every kind of marketing material you can imagine. Now you can utilize this amazing new technology to make your business card and/or resume stand out from the rest.  This is an innovative way to show prospective employers that you are tech savvy.  It also can redirect them to important information on your website that you cannot include in your resume. 

Here is an example of how to put one on your business card. 

Anyone with a smartphone that has an app for reading QR codes can easily point their phone at your card and find out more information about you.  If you don’t have a QR reader app on your phone, they are easy to download from sites like iTunes and they are free.  I use QR Reader for iPhone.  Once you have the app on your phone, open it, and point the phone’s camera at the square on my card.  See how it directs you to a site. 

The QR codes are simple to create.  Check out this article:  how to create your own QR codes.

Here is an example of how to include them on your resume:

 
If you used your reader to scan these codes listed here, you can see they each will send you to a different site.  You may just want to send them to your LinkedIn page or some other website that showcases your abilities.  You could create a presentation in Google Docs or on YouTube that would make you stand out from the crowd.  If you have always felt that you could get that job if only they could see you, now is your chance.  Just be careful to create quality content on the site where you direct potential employers. 

To see QR codes in action, check out this video about how QR codes are changing the way people shop:

Neuromarketing: The Future of Advertising

In Morgan Spurlock’s movie, The Greatest Movie Ever Sold, there is a scene where they discuss neuromarketing. Spurlock is put into an MRI machine and shown product images.  The information obtained showed dopamine was released when he looked at images of Coca Cola.  His desire for the product was actually visible on the brain scan. 

What is neuromarketing?  Tech.FAQ defines neuromarketing as, “a field of marketing that involves studying the way people react to marketing techniques and adjusting those techniques to maximize sales and inform the public about a specific product, idea, or campaign. Neuromarketing includes the use of biometric sensors, social studies, and subliminal messaging. While neuromarketing is a relatively new technique, it has been widely implemented in recent years and nearly every marketing agency and medium-large company in the world now uses it.”

Just less than a year ago the question was asked:  Is neuromarketing the future?  AdvertisingAge stated, “Neuromarketing offers a chance to get accurate, factual data about the buying habits of target markets.” However, they also pointed out that, “At the end of the day, neuromarketing is still in its infancy. A technology that is unproven outside of laboratory conditions, prohibitively expensive, and potentially a legal minefield is a technology that requires a lot of capital and a solid brand to experiment with.”

The future may be here sooner than anticipated.  Combining neuroscience and marketing may just be the next big thing available through the use of apps.  ThreeMinds reported, “large companies like Google, Disney, Microsoft and Chevron have already begun to dip their toes in the neuromarketing waters.  And research vendors have responded, recently announcing the availability of portable EEG devices that can wirelessly transmit brain scans to iPads, as well as “full-brain home panels” for original research studies.”

Marketing professionals may be able to use this technology prior to products coming onto market.  Currently researchers from Duke and Emery are studying how products appeal to the human brain

iTunes offers a free series of videos from the University of Warwick about neuromarketing. In these videos, find out how “Cognitive neuroscience has revolutionized our understanding of the consumer’s brain – a fact with huge implications for business and marketing…you will hear from practitioners, clients and academics at the forefront of neuromarketing. Hear how neuroscience is being applied commercially to research and develop new products and services, improve the effectiveness of communications and boost revenue.”

Loss Leaders and the Old Bait and Switch

Go Daddy is in the news right now due to their consideration of global expansion. One of the ways they have become so successful is that they utilized a marketing technique where they offered a “loss leader”.  For those who have not taken a business course, this term may not be familiar.  The Business Dictionary defines a loss leader as a, “Good or service advertised and sold at below cost price. Its purpose is to bring in (lead) customers in the retail store (usually a supermarket) on the assumption that, once inside the store, the customers will be stimulated to buy full priced items as well.”

In Go Daddy’s case, they charged customers only around $10 to register domains while their competition charged closer to $35.  The Arizona Republic reported, “Then, they were able to capitalize on that by figuring out that domain names are a loss leader or a low margin item, and the way you really make money in the business is not with the domain names, but it’s with everything else that people buy with them.”

How does a loss leader differ from what people refer to as the “old bait and switch”?  First of all, the old bait and switch is considered fraud.  “Customers are “baited” by advertising for a product or service at a low price; then customers discover that the advertised good is not available and are “switched” to a costlier product.”  This is considered false advertising.

The use of loss leaders is a smart marketing move because it gives customers what they want at a lower price and allows companies to make more money on any additional items purchased.  The old bait and switch is illegal and causes a loss of business in the end through word of mouth about shady practices.    

Importance of Customer Relationship Management (CRM)

Anyone who has taken a business course has probably seen the acronym CRM. CRM stands for Customer Relationship Management and refers to ways of keeping track of interactions with customers.  However, it is much more than that.  Bain.com does a nice job of defining CRM:  “Customer Relationship Management (CRM) is a process companies use to understand their customer groups and respond quickly—and at times, instantly—to shifting customer desires. CRM technology allows firms to collect and manage large amounts of customer data and then carry out strategies based on that information. Data collected through focused CRM initiatives help firms solve specific problems throughout their customer relationship cycle—the chain of activities from the initial targeting of customers to efforts to win them back for more. CRM data also provide companies with important new insights into customers’ needs and behaviors, allowing them to tailor products to targeted customer segments. Information gathered through CRM programs often generates solutions to problems outside a company’s marketing functions, such as supply chain management and new product development.”

Forward-thinking companies must learn to embrace CRM to remain competitive.  An article in BusinessBalls.com pointed out, “The ultimate purpose of CRM, like any organizational initiative, is to increase profit. In the case of CRM this is achieved mainly by providing a better service to your customers than your competitors. CRM not only improves the service to customers though; a good CRM capability will also reduce costs, wastage, and complaints.”

In the business world, Pareto’s Principle is often cited.   This principle states that 80% of effects come from 20% of the causes.   This has been translated to:  companies obtain 80% of their business from 20% of their clients.   As the BusinessBalls.com article pointed out this also means:

  • 20% of customers account for 80% of your turnover
  • 20% of customers account for 80% of your profits
  • 20% of customers account for 80% of your service and supply problems

In order to avoid wasting time and energy, relationship building is critical.  To develop these relationships, it is important to have a strong CRM system.  There are plenty of web-based CRMs.  A popular cloud-based CRM is available through Salesforce.com.  This popular system boasts ease of use stating, “Using Salesforce CRM is as easy as buying a book on Amazon.com. That means your employees will actually use it, so it will be a more effective tool for your business.”

Apps are popping up all over to help with CRM.  Salesforce.com has their own that is good for a sales-based industry.  SmallBusinessTrends.com did a nice review of some other top CRM apps that are useful for small businesses.

Facebook and Twitter Getting Free Advertising through Redirection

Have you noticed lately how many companies post somewhere in their advertisement that they have a Facebook or Twitter page?  Perhaps you have seen wording like:  “Follow Us on Facebook” or “Follow Us on Twitter”.  Imagine if your company was mentioned like that on everyone else’s advertisements and you didn’t have to pay for that.

This is something that is new in the advertising world.  In the past, you would see companies listing their websites to direct their business to their own companies.  They still do this, of course, but now they are also directing business to Facebook and Twitter to get people to come to their website indirectly. This redirection may have implications on web analytics, making it more difficult to know how many customers are seeing the company’s message.  However, the advantages for using sites like Facebook for advertising can be significant.  Tnooz.com reported, “With one in every 13 people on the planet using Facebook, the potential exposure that Facebook advertising offers can be massive, costing a fraction of what a TV advertising campaign might cost.”

This redirection of business is something that is growing.  It can be easier to get people to go to Facebook or Twitter initially due to their popularity.  Sites like bit.ly allow links to be shortened and more information to be included in a tweeted message.  This can also be useful for redirection to mobile devices.  Webupon.com reported, “Facebook and Twitter are two of the most user-friendly sites on the mobile web – and that’s great news for those who are going mobile with their websites, because it means people can right-click on bit.ly links in Twitter – and be automatically taken to a mobile version of your site, if they’re accessing it from Twitter.”

Sites like Facebook are helping increase what used to be called word of mouth advertising by allowing people to pick “I like” on a product page.  Trendwatching.com refers to the F-Factor involved here, meaning Friends, Fans and Followers on Facebook who can influence purchasing decisions. Check out an article by Converge2003.com that suggests there are 10 tactics to increase your number of Facebook likes.   For more information about adding a Facebook Like Button to your site, click here.

Top Branding Failures

Companies are always looking for that next Old Spice campaign that will become viral on YouTube and get people talking.  Effective branding is crucial for a company’s success.  The American Marketing Association (AMA) defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.”

Branding needs to be credible and motivate buyers.  According to MarketingAbout.com, “It’s important to spend time investing in researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer. It’s a foundational piece in your marketing communication and one you do not want to be without.”

There have been many marketing blunders when advertising has missed the mark.  Bschool.com lists what they consider to be the 10 Most Ill-Advised Ads of All Time.  Remember those singing Quiznos rodents?  Some of us wish we could forget.  Check out the top 10 list by clicking here.

Facebook, Google and Bing: When Companies Become So Popular Their Names Are Used as Verbs

If a company has its name used as a verb, its popularity is undeniable but it may also be problematic.  Although Google is a company name, it is not unusual for it to be used as a verb, as in someone is going to “Google” something.   Google and Facebook are listed as verbs on Dictionary.com.  The official definition for the verb version of Facebook is “to search for (a person’s profile) on the Facebook website.”  In fact, there is actually a Facebook page titled When Did Facebook Become a Verb with an entry as early as 2006.

In 2006, CNet announced that Google had officially become a verb.  Google was not the first to be used this way.  Think about Xerox.  It used to be common to say that something needed to be Xeroxed instead of copied.  However, having the company name used as a verb can have its consequences.  CNet reported, “Becoming synonymous with an invention may hold a certain amount of historic glory for a company, but ubiquitous use of the company’s name to describe something can make it harder to enforce a trademark. Bayer lost Aspirin as a U.S. trademark in 1921 after it was determined that the abbreviation for acetylsalicylic acid had become a generic term. The trademarks Band-Aid, Kleenex, Rollerblade and Xerox have had similar issues.”

Is Bing the next company name to become a verb?  Bing has a nice ring to it like Ping did recently.  Perhaps the use of the phrase “Ping Me” has been played out and Bing is too late. It may also become complicated when dealing with past, present and future tense as noted in the following from a New York Times article: