Jan 22

"World Record Egg" – How Wacky Is The Future Of Marketing Going To Be?

The world of marketing is an ever-changing environment. Although this may be a statement that you have heard over and over again, it is true and it will remain true for a great deal of time. Marketing started off in the most basic of ways as a simple means of advertising a good; however, it soon developed into a method of attracting the attention of the entire populous through the use of social media and many other online platforms. It is fair to say, therefore, that marketing is one of the most important aspects of any business strategy, since it is what allows a business to grow by reaching the large amount of people who browse the internet daily. In a sentence, marketing is a magnificent tool which allows businesses to grow and become more popular. The question is, however, what does the future of marketing look like? Let us look briefly at the history of marketing in the fashion industry, and then jump forward to look at the potential effect that an inanimate object could have on the field of marketing.

Sourced from World_Record_Egg Account on InstagramWorld_Record_Egg on Instagram

One of the biggest advancements in the world of marketing was the creation of social media marketing. This is the use of social media platforms – Twitter, Instagram or Facebook to name a few – to promote a product or service. This allowed many brands to easily post about their products and reach a wide variety of people who could potentially consume said products. Moreover, social media marketing revolutionized the field of marketing as it made use of celebrity influencers. Brands began to realise that celebrities could promote their goods, hence meaning that they began to reach out to influencers in the hope that this would allow their brand to grow. Such was the case with Nasaseasons – a fashion company created by Alexandre Daillance (a.k.a Millinsky) – as it became hugely successful due to its use of influencers such as Rihanna, Wiz Khalifa and Tyga. Millinsky used Instagram to connect with stars in the music industry which allowed Nasaseasons to transform from a Bedroom Brand to an enormous organisation which rejected bulk orders from Urban Outfitters. This single example highlights the truly awesome power of social media marketing and the way in which it has influenced many industries such as the fashion industry. It is a simple and easy tool to use and has extremely high rewards, so what’s not to like about it?

@kyliejenner’s photo that was dethroned.Sourced from @Kyliejenner’s Instagram

Social media marketing has now become a tool which lots of brands now utilize. Therefore, it is no longer the unique marketing strategy it once was. Nonetheless, uniqueness has been shown in the realm of social media marketing by a single inanimate object – an egg. The Instagram account “world_record_egg” recently set out on a mission to get the most liked post on Instagram. The record at the time was held by Kylie Jenner (18 million), however the egg now has over 49 million likes! The account is also verified on Instagram and has over 8 million followers. As obscene as it may sound, this egg may be a huge marketing ploy which could radically change the future of marketing. According to Keemstar, the man behind the Youtube-based news desk “DramaAlert”, the “world_record_egg” account is being run by Supreme Patty, a 21 year-old with 6.2 million followers on Instagram. Should Keemstar’s claim be true, Supreme Patty – a young influencer and Youtuber – will be responsible for a marketing ploy which has reached over 50 million people (a feat which has never before been reached). The ploy will have allowed him to reach an enormous amount of Generation Z members, thereby massively furthering his popularity among the younger users of the internet.

As marketing ploys go, this one is bold. It is, nonetheless, extremely clever. The primary reason that it is clever is that it uses an inanimate object which everyone will know about, meaning that all viewers will pause and be interested in what they see. Secondly, it gained interest as it was posed as a challenge to the online community; this tactic meant that its popularity was most definitely going to increase because humans have an inherent interest in breaking records due to the thrills and excitement which come along with such attempts. According to 19 year old Harry Beard, a Generation Z consultant from Future Labs, “The Egg is a particularly clever concept. The use of an egg has brought about a sense of humour to the entire campaign. Kylie Jenner has been dethroned by an egg. It’s funny. But what was at first seemingly a one off campaign to take a stock photo of a humble egg to the top of Instagram has become a storyline! The second post, showing the egg cracking, has created a story which Gen Z are gripped by. I’m certainly waiting for the entire feed to unfold. Will the egg have a branded product inside? Will it have a yolk? Will it be empty? Nobody knows! As stupid as it sounds, everyone is gripped! Brands can, to an extent, take a lot away from the egg. The egg fundamentally relied on humour to get it off the ground. Humour, I believe, is one of the major sellers on Instagram. If you want Gen Z to buy into your social media story, be willing to relinquish some of the corporate facade and add a bit of humour into your feed! Succeeding on social media doesn’t require an overly edited photo. It doesn’t require a team of photographers. Produce authentic content and that will resonate way more with your following.”

Photo of a Cracked Egg on @World_Record_Egg Instagram@World_Record_Egg from Instagram

So, what is next for the world of marketing? Will more people attempt to use inanimate objects to help themselves grow? Or will more people use social media challenges to boost their number of followers? Whatever choice is made, you can be sure that people will follow it, and that eventually it will change. That is what makes marketing so wonderful: it has a fluid nature but at its core it is inherently simple and easily accessible to all. The only true requirements for a successful campaign is creativity, sense of humour and unwavering lack of fear (for innovation at least).

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Jan 21

Internet Marketing Company, Lounge Lizard, shares the Top Social Media Metrics for Marketing

Key metrics help with understanding customers and planning future campaigns to generate the best results possible.

Lounge Lizard is globally recognized as a top internet marketing company within the web design and development industry. Lounge Lizard’s brandtenders are creative, tech-savvy, and passionate in developing innovative strategies that drive conversion for both startup and established clients of all industries, making them the “best of breed since 1998.”

Social media metrics are invaluable to effective marketing. They allow marketers to update management about the effectiveness of campaigns, ROI, and social reach. Additionally, key metrics help with understanding customers and planning future campaigns to generate the best results possible. Today the Internet Marketing Company, Lounge Lizard, shares the Top Social Media Metrics for Marketing.

Top Social Media Metrics to Track:

Volume – The easiest metric to track is basic volume, which is a top of the sales funnel aspect to be aware of. This metric is more than followers, tweets, and posts; it is the scope of people talking about a brand at certain periods in time. Some platforms have built in measurement capabilities such as Facebook Insights. There are also useful software options for online reputation management such as Social Mention or SentiOne that can track, measure, and monitor social media. Once volume has been analyzed it will be apparent which days or times more people talk about a brand which makes those prime opportunities to post for higher engagement.

Reach – Reach is how far a social conversation circulates. This metric is often used as a denominator when calculating other metrics. For example, to determine the engagement percentage of something you would take all of the usable figures for clicks, replies, retweets, etc. and then divide that number by reach. Strong reach is often also equated with brand awareness which is important when the focus is shifted to earning more leads, subscribers, or conversions as the more recognizable and respected a brand is, the easier it is to generate those things. Insight pages on social platforms will showcase reach, which should improve over time.

Engagement – This is simply the number of people that participate in your activities on social media sites. There are two different ways to look at engagement; shares and interaction. Some people will reply, comment, or like posts which represent interaction while shares are simply how often a post is re-tweeted, shared, and the like. Depending on business goals, it is important to understand which types of posts produce more of one action over another to allow more focus on what is important to the business between shares and interaction.

Click-Through-Rate – This metric is useful for those businesses that run ads on social media platforms. It represents the number of people clicking on an ad or content resulting in a website visit. CTR is based on the total number of clicks divided by impressions, then multiplied by 100. Again, this is a metric most platforms automatically calculate.

Social Media Referrals – This metric is the total number of visitors to the business website that come from the business social media platforms. This metric represents customers willing to leave social media platforms to land on a website which indicates a high level of interest in products or services. This can be tracked via Google Analytics under the acquisition tab.

Bounce Rate – This is a standard website analytic that can be found in Google Analytics and should be tracked in relation to social media. The bounce rate from social media should be compared to the bounce rate for search or digital ads which will allow a better understanding of the effectiveness of social strategy compared to other methods. A very high bounce rate would indicate and ineffective strategy because visitors leave immediately indicating they were not instantly getting the information they expected.

Amplification Rate – This number is a ratio of shares of a post to the number of total followers on that particular platform. It has been defined as the rate which followers share content on their own networks. Simply add the number of shares over a period and divide by the number of total followers then multiple by 100 for a rate percentage. The higher this percentage, the more followers are pushing content to new audiences for free as well as an indication that followers want to associate themselves with that brand, much like a brand ambassador.

Social Media Conversions – This will vary based on what a business wishes to consider a conversion, such as subscribing to a newsletter or a direct website purchase. This directly relates to ROI and cost-per-conversion (CPC). Different platforms have methods to tract various metrics depending on what the definition of a conversion ends up being.

Customer Satisfaction Score – This is also known as CSAT, and is a metric focused on measuring the satisfaction level people have with products or services. It really boils down to the simple question of: What is your overall satisfaction with X? The answers can be a 1-5 or 1-10 scale along with terms such as Poor, Fair, Good, Great, Incredible. CSAT surveys can be implemented on social media platforms and then simply add up all scores divided by the number of responses then multiply by 10.

Lounge Lizard Digital Marketing Agency is an award-winning, high-end design boutique specializing in website and mobile app development, UX/UI, branding, and marketing. Lounge Lizard excels in creating the ultimate brand strategy, fully loaded with expertly crafted visuals that work together to increase sales and effectively communicate a client’s unique personality.

Media Contact: Ken Braun, Lounge Lizard, 631-581-1000, ken.braun(at)loungelizard.com

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/internet-marketing-company-lounge-lizard-shares-the-top-social-media-metrics-for-marketing/

Jan 20

Tourism group sponsoring online marketing workshop

In business, it’s important to be easily found, and to make a compelling first impression, including, and sometimes especially, online.

The Elizabeth City Convention and Visitors Bureau wants to help business owners do just that, and it’s offering free website and marketing workshops on Feb. 1 at Museum of the Albemarle.

The sessions will offer the expertise of Brian Matson, of Brighton, Mich.-based TwoSix Digital, an online marketing organization focused on travel- and tourism-related businesses. The CVB contracts with TwoSix Digital for digital marketing, and CVB Executive Director Corinna Ferguson credited them with helping boost the bureau’s web traffic and online presence in recent years.

According to the CVB, the first workshop will be from 10 a.m. to 11:30 a.m., and will focus on “maximizing your website for success.” The second will run from 12:30 p.m. to 2 p.m., and focus on “developing a 21st century marketing plan.” The sessions are free, and attendees may attend one or both, Ferguson said.

The CVB will also offer attendees the option of a boxed lunch, at $11 per person. Attendees who want lunch need to pay the CVB for it by Jan. 28.

Ferguson said it can be difficult for small business owners to create and build their online presence. The city has some small businesses without a website, while others rely primarily on Facebook, she explained. Facebook is a valuable tool, but it doesn’t reach non-Facebook users, she noted.

Ferguson explained she knows small business owners are often very busy, but also reiterated it’s important that customers can easily find them, and get good, current information about their products and services, location, and hours of operation.

“It’s kind of like the website is the front door of your business,” she said.

Ferguson said Matson can help explain how to create a compelling, mobile device-friendly website, and make sure it comes up readily in relevant internet searches. He’ll also discuss how to market well across multiple platforms, she said.

In an email, Ferguson also reported Matson is being paid $2,500 to speak in Elizabeth City. This budget year, the CVB also contracted with TwoSix for $9,275, plus ad buys of about $22,500.

Matson’s online bio states he’s a former marketing director at the Fargo-Moorhead CVB in North Dakota, and one of his claims to fame is bringing the wood-chipper prop used in the movie “Fargo,” back to the town for display.

For more information on the sessions, call the CVB at 335-5330, or go to visitelizabethcity.com.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/tourism-group-sponsoring-online-marketing-workshop/

Jan 19

Internet of Things Security Market 2018 | Business Overview, Investment Analysis, Insights, Outlook and Forecast 2022

Internet of Things Security

Global Internet of Things Security Market: Industry Synopsis

Internet of Things Security Market Research Report is to provide strategic analysis of the Internet of Things Security industry. The research report provides a deep insight of the Internet of Things Security market factors by accessing the market growth, consumption volume, the upcoming industry trends, and valuation for the forecast year 2022. Global Internet of Things Security Market 2018 Industry research report offers an in-detailed Internet of Things Security business report containing market drivers, types, application, technologies, analysis history, opportunities, threats, and challenges are also taken into consideration to determine the market’s future.

Top Key Players of Industry are covered in Market Research Report:

Get PDF Sample of the Report @ https://www.absolutereports.com/enquiry/request-sample/13033575   

CAGR Status of Internet of Things Security:

The global Internet of Things Security market to grow at a CAGR of XX% during the period 2018-2022.

Market driver
Government regulations driving IoT security
For a full, detailed list, view our report

Market challenge
Increased complexity of IoT networks
For a full, detailed list, view our report

Market trend
Increasing emphasis on IDoT
For a full, detailed list, view our report

Global Internet of Things Security Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2013-2022):

  • Americas
  • APAC
  • EMEA

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The report examines the Internet of Things Security market overview, presenting the Internet of Things Security industry Definition, Specification, and Classification. The report contains the market size, share, evolution opportunities and evaluation in forthcoming years. The research report also provides the production cost structure analysis, industry chain framework, raw materials, suppliers, and Internet of Things Security process analysis. Furthermore, the report classifies the market on the basis of fundamental parameters and analyzes the market position, market perspective and Internet of Things Security industry top participants in the global market.

Target Audience of Internet of Things Security Market:

  • Manufacturer / Potential Investors
  • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
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The purposes of Internet of Things Security market research report:

  • To describe, define and analyses the Internet of Things Security Industry based on product type, application and region.
  • To forecast and analyses the market at country-level in each region.
  • To tactically analyze each submarket with respect to individual growth trends and its contribution to the market.
  • To strategically profile key players in the Industry and comprehensively analyze their growth strategies
  • To identify important market trends and factors driving or preventing the growth of the market.
  • To analyze opportunities in the Internet of Things Security Industry for investors by identifying high-growth segments of the market.
  • To analyze competitive developments such as expansions, risks, new products launches, and acquisitions in the Internet of Things Security Industry.

Have any special requirement on above report? Ask to our Industry Expert @ https://www.absolutereports.com/enquiry/pre-order-enquiry/13033575

Important Features of Internet of Things Security Market Report:

  • This report consists competitive study of the major Internet of Things Security manufacturers which will help to develop a marketing strategy.
  • This report provides deep research study of Internet of Things Security Industry based on development opportunities, growth limiting factors and feasibility of investment.
  • The study of emerging Industry segments and the existing market segments will help the readers in planning their business strategies.

Table of Contents:

Chapter 1: Global Internet of Things Security Market Overview

  • Overview and Scope of global Internet of Things Security Market
  • Market Sales and Market Share
  • Sales and Growth Comparison of global Internet of Things Security Market
  • Global Internet of Things Security Market by Regions

Chapter 2: Market segments

  • Global Internet of Things Security Sales and Revenue by applications
  • Market Competition by Players
  • Market by product segments
  • Global Internet of Things Security Sales and Revenue by Type

Chapter 3: Global Internet of Things Security Market marketing channel

  • Marketing Strategy Analysis, Distributors/Traders
  • Direct Marketing
  • Marketing channel trend and development

…. Continued

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In the end, the report includes market opportunities and the competitive aspect for investors and market leaders. This report additionally presents the research procedures, and industry evolution trend analysis.

 

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Jan 18

3 Major Marketing Trends to Look Out for in 2019


This year has been prophesied by many to be the best year yet for the internet and digital marketing. However, if we consider the trends, every year has been increasingly better than the other for the last few years, so these are more statements of the obvious than prophecies.

Over the last two years, we have seen some subtle shifts in customer reaction towards conventional digital marketing. For instance, the increasing use of ad blockers by many, especially millennials in the U.S., indicates that conventional ads are no longer as popular as they were in 2016.

With a little study of marketing in 2018 and of creative companies that did well for themselves last year, I have come up with a few trends that we should all expect more of in the new year. This is in no way exhaustive, but it’s worth the read.

Related: 6 Inspiring Women Changing Tech and Business This New Year

1. Return of offline marketing.

Why did digital marketing become as big as it did, as fast as it did? There are a number of reasons — the wide reach of the internet, for one, and the ability to tailor marketing efforts to specific audiences. However, it was also because it was new and everyone wanted a piece of this refreshing new innovation.  

Fast forward many years later, and it is not so new anymore. In fact, it has grown so rapidly that Shopify predicts that by 2021, global retail ecommerce sales will reach $4.5 trillion. (This is a threefold jump from $1.3 trillion in 2014). The number of people buying goods and services online has also increased significantly and is predicted to climb from the 1.46 billion in 2015 to more than 2 billion in 2020.

While this growth is great, it has also caused a significant drop in offline marketing efforts, opening a tremendous door for smart businesses. Offline marketing suddenly has become “uncommon marketing” and hence, a great way to add a personal touch in a largely screen obsessed period for customers.

One company that exemplifies this is Mainstreet ROI, a digital marketing firm, that took an uncommon step in sending printed newsletters to their customers once a month and to great effect. Their reasons are sound too, as this is a highly unexpected marketing means in a digital world and yet so personal and relevant.

It also helps that a newsletter can’t be lost with one tap of the delete button. This is not a call to start sending in newsletters in 2019, but it is a call to get creative and to look back on the very mediums we left behind in the wake of the digital transformation. Such creativity will set businesses apart in 2019.

2. The rise of socially beneficial marketing.

I published an article about a year ago on the effects of impact investment on society. At the time, social impact investing was just at its infancy stage. In the time that has passed since then, the world has gotten worse. For example, climate change has since reached a boiling point. Dr. Ken Caldeira, a lead scientist, says “Our study indicates that if emissions follow a commonly used business-as-usual scenario, there is a 93 percent chance that global warming will exceed 4C by the end of this century.” 

This is exceedingly frightful and doesn’t get better when we look at the statistics for many other issues our world is faced with. The urgency for socially minded businesses is real, and in 2019 we would expect to see many more businesses enter valuable partnerships to address some of these social causes.

Related: The New Year Is Your New Opportunity

In an earlier article, I made the point that social responsibility doubles as marketing for businesses of all sizes, and in a world that needs help, businesses that are found investing more around social causes tend to be much more visible.  

Harper Wilde is one company that exemplifies this strategy well. They sell bras and have done a great bit of work with women empowerment globally with their hilarious message slogan, “lift up the ladies,” being both a reference to their socially conscious mindset and the function of their products.

Last year was a good year for social responsibility, but I believe 2019 will be the year where it totally takes center stage. In 2019, companies that are actually directly involved in socially responsible ventures will do better than companies who just partner with socially responsible businesses. The reason is simple. We are now more aware than ever that our world is in trouble.

3. Blockchain makes its stamp on marketing.

In the last couple of years, blockchain has gotten many excited and many more worried. The new technology has caused disruptive tendencies for many industries, and marketing was not spared. Blockchain digital marketing is a term that has been thrown around in marketing spheres but rarely understood. With optimism in blockchain rising, 2019 just may be the year where it is fully understood and utilized.  

Here are a few things blockchain brings to the table that makes it so desirable going forward.

  • Utilizing blockchain in Search Engine Marketing will eliminate digital middlemen, like Facebook and Google.
  • With blockchain, website owners wouldn’t have to go through the Google Display Network to find advertisers because each “user” would already be validated and verified. The advertiser would know that they’re paying for genuine clicks, and the site owner can trust that the amount they’re being paid is fair.  
  • Blockchain brings is the new level of transparency. Everything is documented and verified. Ideally, a customer could get a “behind-the-scenes” look of a retailer’s supply chain to ascertain if they can trust its ads or marketing efforts.
  • With blockchain, the consumer’s data is purely under their control, instead of having it vulnerable on servers.

One company that has chosen to lead the way in actually making these things happen is Bezop. Blaze Ubah, CEO of Bezop, while addressing how far the company had come in their innovative bid to use blockchain to become the world’s first Amazon-like ecommerce platform, repeatedly makes the point that is the hope of all blockchain enthusiasts — that block chain can make marketing truly about the two people involved, the advertiser and the customer.

Related: Become a Blockchain Expert for Less Than $20

Taking down big wigs like Facebook, Google and even ecommerce giants like Amazon in any sphere looks a really daunting task, but with blockchain, it is looking increasingly possible and Bezop is the first of many that are on that path. Its not going to all happen in one year, but I believe the first tangible steps will be seen in 2019.

The marketing sphere is not likely to experience any large scale sweeping changes in the near future. However, these trends are likely to significantly shift focus of marketers and businesses or at least their considerations and investments. 

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/3-major-marketing-trends-to-look-out-for-in-2019/

Jan 17

Prospects rely on internet to find an advisor

Men shaking hands through a computer monitor Most prospects search for an advisor online. (Photo: Shutterstock)

Clients have come to expect that finding an advisor should be as simple as ordering something from Amazon.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/prospects-rely-on-internet-to-find-an-advisor/

Jan 16

How To Overcome ECommerce Growing Pains

Holly Larson, Lauren Kirby, and Torren McCarthy contributed to this post.

Attention online shoppers: It’s harder to connect with you than expected. The CMO Survey from Duke University, sponsored by Deloitte LLP and the American Marketing Association, reports that companies average only 12.2% of sales through the Internet, up from 8.9% of sales in 2013 when they represented only 8.9% of sales (see Figure 1).

Figure 1: Company Sales Over the InternetThe CMO Survey

What can we learn from this?

First, physical retail has refused to die, as retailers evolved their customer experience. Amazon, which dominates the United States market with 49% of all ecommerce sales, owns only 5% of total retail spend. That’s why Amazon bought Whole Foods and is experimenting with Amazon Go stores. In a word, this strategy boils down to one idea: facetime.

It’s a whole new world of retail. Forget showrooming (where consumers try, but don’t buy) or webrooming (where they research online and then buy offline). Analysts are now talking about “blended retail,” where online and physical retail work together synergistically and success is measured in experience per square foot. Yes, customers research online (both at home and on mobile devices in stores), but the reality is that they often move from one channel to another and back again before making and receiving a purchase. That’s why we’ve seen new trends emerge, such as ordering online and picking up in stores.

Second, ecommerce penetration varies across sectors. The CMO Survey finds that B2C product (15.6%) and services (14.2%) sales outpace B2B products (9.7%) and services (11.5%). That’s not surprising, given that B2B sales are often more complex, involve multiple decision makers, and often constitute significant investments. Similarly, ecommerce penetration varies by geographies. While the market is relatively developed in Western countries, Amazon, Walmart, and others are making a big push into India and other markets, adapting their merchandising and sales strategies to reach 800 million new customers who lack easy access to either stores or the Internet.

Third, marketers cite four key challenges to selling more products and services online (see Figure 2 below). They say that:

  • Their business requires more human interaction (56% agreed).
  • They need a new business model (49% agreed).
  • That the product/service is too complex to sell over the Internet (46% agreed).
  • That the business requires more customer experience than can be delivered over the Internet (39%).

Figure 2: What Factors Prevent Greater Sales Over the Internet? (Check All That Apply)The CMO Survey

A first impression is that these are reasonable explanations. While it’s easy to sell commodity products online, many companies sell goods that require extensive research, in-person inspection, cross-product line analysis, and interaction with sales and service. The common wisdom is that finalizing these types of sales require facetime with sales staff. However, digital capabilities are continually evolving and online consumer behavior is keeping pace, meaning that even large expenditures are moving online. Let’s look at how businesses are innovating to reach digitally-wired consumers.

Eliminating (or reducing) the need for human interaction: US Foods, the second-largest food distributor in the United States, used phone and fax-based sales strategies before 2013. Leaders knew that the company needed to evolve quickly to meet customer expectations. The company launched an ecommerce and mobile technology platform to improve transaction speed and to gain access to key analytics. The new platform enables customers to place orders online; track deliveries using the company’s mobile app; and leverage analytics to optimize processes, such as budgeting and spending, inventory management, and menu engineering. In just three years, the company has booked $16 billion net sales through eCommerce and its independent restaurant customers who order online have higher retention rates and purchase volumes.

Creating new business models: While there are many new digital business models, subscriptions (for both physical products and digital goods) have been particularly successful. In the B2C arena, Stitch Fix offers consumers digital clothing style consultations (driven by real stylists and algorithms) and monthly “bento” box sales. The company added an “Extras” service for undergarments to push per-sales spend, much the way Amazon offers Amazon Basics and subscriptions.

In the B2B arena, Adobe was an early pioneer into subscriptions, which disrupted its own business model. Adobe gave up larger, one-time software sales (often with physical CDs to match), to deliver a fully functional product delivered on a modest monthly pay-as-you-consume basis. Adobe CMO Ann Lewnes worked to drive that transformation, which was not well accepted by customers at the time. Now, however, Adobe is a market leader in creative services and digital transformation precisely because it was prescient enough to anticipate—and pivot its business towards serving—the Subscription Economy.

Simplifying complex products for sales online: If there is any B2C product that requires in-person sales, it is car buying. Users typically research online, but visit dealerships to see cars in person, conduct test drives, decide on features, and talk financing.

Not so with Carvana, which has revolutionized the used car-buying process by teaching customers to kick the digital tires. Recognizing that many customers don’t enjoy visiting dealerships or haggling over prices, Carvana has entirely digitized the car buying experience. That’s in line with customer behavior, as most users spend 13 hours researching online and just 3.5 hours in dealerships. Customers can filter and scroll through more than 10,000 cars and purchase or finance the car directly online. Buyers can then schedule to pick the car up at one of Carvana’s Car Vending Machines or have it delivered to their home, often as soon as the next day. Carvana overcomes buyers’ usual inhibition to spending large sums online by offering a no-questions-asked, seven-day money back guarantee.

Delivering more customer experience than can be delivered over the internet: Sephora has used technology to become the top specialty beauty retailer in the world. The company uses smart technology to deliver an omnichannel shopping experience and connect buyers to a digital catalogue of more than 14,000 products. Here’s how a shopper experiences Sephora in its new, smaller-format stores. A robot greets buyers at the entrance of the store and gives them a virtual shopping basket. Sephora’s app uses beacons to provide real-time marketing information and wayfinding. Buyers can tap NFC-tagged goods on screens to get information and use augmented reality make-up apps to try on makeup digitally, in stores. At home, they can connect with Sephora’s app on Google Assistant or interact with chatbots on the company’s website. All of these innovations and more help deliver a differentiated experience that engages and delights users and drives sales.

Creating An “Always-on” Digital Marketing Organization

As the examples above demonstrate, marketing has become the warp and woof of business. Much digital transformation today is led by marketing and customer experience teams, to ensure that the changes are what consumers actually want. In addition, digital marketing is moving to an “always-on” model. Leaders who rethink their businesses to engage more powerfully with consumers in this way can generate powerful data they can use to innovate and optimize processes. Amazon has ably demonstrated how companies can create leap-ahead advantages by using analytics to fine-tune services and then move into adjacent products, markets, and businesses.

The CMO Survey finds that companies are spending more on digital marketing. Respondents say that their companies will spend 12% more on digital marketing in 2019 as part of a 7.5% increase in overall marketing spend in the next year. However, marketing leaders report only average or below average contributions of mobile and social investments to company performance.

Why is this?

Part of the challenge may be that marketers haven’t achieved digital marketing maturity. If they haven’t driven digital to the heart of the business, there is the danger that marketers are thinking about marketing as a series of ongoing campaigns or as a standalone function rather than a journey taken with other key business functions. If so, it is time to take two other important strategic actions.

First, build digital marketing capabilities. CMO Survey results demonstrate that these capabilities are currently underdeveloped in companies—reaching only the mid-point on survey KPIs. For companies, this means gaining executive sponsorship for a strong push into digital by: promoting or hiring the right leadership; building partnerships with the business, sales, and customer experience organizations; developing business case-led strategies; hiring or developing the right staff; and solving problems that cause business and customer pain. This is a long process that resists quick fixes. Those organizations that succeed find a way to deliver value to the business to gain commitment to this path forward.

Second, CMOs must work hand-in-hand with CEOs, CIOs, and digital leaders. Digital marketing should transform how the company operates, including its culture, its leaders, decision-making, customer and employee engagement, technology investments, cross-functional cooperation, and learning and development. Unfortunately, The CMO Survey reports weak performance on these features of a digital marketing organization, meaning that many companies still need to dig in.

We believe that the verdict is in. The longer companies wait to reimagine themselves as digital businesses with marketing-led strategies, the less likely it is that they will compete within their industries. Look to the success of companies such as US Foods that trimmed fat from operational processes and harnessed technology to engage with users. See how Stitch Fix and Adobe reinvented product development, marketing, and sales with subscriptions. Analyze how Carvana simplified complex sales, moving them entirely online. And understand how Sephora created a blended retail experience that enhances in-store shopping and increases digital sales.

There’s no time to wait on driving digital marketing into the heart of the business.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/how-to-overcome-ecommerce-growing-pains/

Jan 15

Retailer Excellence Awards Add Two New Categories

 

Pet Business and Global Pet Expo have expanded the Retailer Excellence Awards with two new categories in 2019—Best Ecofriendly Retailer and Best Internet Marketing.

 

The Best Ecofriendly Retailer Award will honor a pet store or chain that demonstrates a strong commitment to taking a sustainable, ecofriendly approach to retailing. Factors that will be considered include ecofriendly business practices, product selection and support of ecological causes.

 

The Best Internet Marketing Award will recognize one retailer that has truly embraced digital marketing to promote their business. Areas that will be considered include online advertising, newsletters, blogs, mobile/text marketing, etc.

 

Now in their eighth year, the Retailer Excellence Awards were created by Pet Business and Global Pet Expo to honor outstanding independent pet stores in a variety of categories, including:

 

• Best Single-Store Retailer
• Best Multi-Unit Retailer (2 -14 stores) 
• Best Multi-Unit Retailer (15+ stores)
• Best Live-Animal Retailer
• Best Multi-Service Retailer
• Merchandising/Store Design
• Customer Service
• Community Service/Outreach Partnership

 

Award nominations are accepted from manufacturers, retailers, sales/marketing reps and distributors until February 21, 2019. A copy of the nomination form can be downloaded here and submitted via email or regular mail (see ballot for mailing info).

 

The winners will be determined by a committee of Global Pet Expo and Pet Business staff members. The results will be announced at an awards ceremony and retailer roundtable discussion held on March 21, 2019 at 7:30 a.m. at the Orange County Convention Center in Orlando, Fla.

 

For more information about Global Pet Expo, visit globalpetexpo.org.

 

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/retailer-excellence-awards-add-two-new-categories/

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