Tuesday, June 9, 2015

Hopping Aboard the Bandwagon

The bandwagon effect is nothing new. Scientists have been amazed for decades by the propensity for people to follow the lead of others. It seems to dominate our lives in so many ways! We become more likely to buy products our friends buy, and we even find ourselves ascribing to the opinions and beliefs of those around us. This psychological phenomenon might be one of the most interesting and influential topics of study in the field of neuro-marketing.

An excellent example in the world of public opinion can be found in the Oxford Journals, dating back to 1977. This experiment used two groups of questionnaires to study participants. Each contained the same four questions, but one set of questions was accompanied by recent public poll results regarding answers to the question. The study found that those in blue collar trades seemed to react negatively in opinion and response rate to the addition of the polls, while white collar workers reacted positively in both of these areas.

The findings of this study have been cited numerous times and have been used as a foundation for subsequent studies on the notion of the bandwagon effect. A study as recent as 2013 sought to determine how influential the bandwagon effect is on voting. The study, published in the Journal of Psychology, found that the opinions and votes of participants were similarly impacted by the behavior of others.

Why do we care so much about what others say and think?

We all want to feel as though we're part of a group. Put yourself back in high school for a second. You walk into school, put your backpack in your locker, and likely begin to search for your friends. Whether a jock, a bookworm, or a rocker, everyone had their own clique. Even the 'outsiders' seemed to have their own group of like-minded people. As people, we enjoy feeling as though we're part of a greater society.

Our desire to be part of a group impacts everything from our shopping behavior to the social media platforms we join and the content we seek. It explains why that latest cat meme went viral and why various fads seem to arise and disappear overnight.

It can also be a powerful tool for marketers. When you harness the power of the bandwagon effect, you can create the recipe for a successful marketing plan or product launch.

Take social media, for example. These digital platforms are excellent for your customers to let their friends know they like your brand. People are more likely to be attracted to and follow brands their friends follow because of the bandwagon effect. When companies advertise who follows them on social media, it works to create a strong social media community where people regularly converse and engage with the brand. It can also help to encourage others to like the brand.

Similarly, people are far more inclined to try new products if they see others buying them. If you're running a sale, for example, indicating the percentage of your product that has been bought, particularly as the numbers get higher, can actually help drive new people to make a purchase.

As scientists have been telling us for decades, the bandwagon effect can be a powerful motivator for people interested in making a purchasing decision. Keep the power of groups in mind as you design your next marketing campaign and see how you can leverage this power yourself. Contact us today to get your new marketing campaign started.

Tuesday, June 2, 2015

Predictive Analytics: One of the Keys to Direct Mail Marketing Success in 2015 and Beyond

Direct mail marketing is still one of the best and most efficient ways to connect to your target audience, even in this social-media-centric world. But that doesn't mean you need to eschew technology altogether. Case in point: predictive analytics are quickly becoming not just a recommendation, but a requirement for anyone running a direct mail campaign.

What Are Predictive Analytics?

At their core, predictive analytics leverage statistics, data mining, and similar techniques to create a prediction about future behaviors. The idea is to take the past behavior of your target audience and use it to make educated guesses about future activities.

The concept is used in Internet advertising on a daily basis. Have you ever wondered why you suddenly see advertisements for home audio and video equipment or Blu-ray movies right after you purchase a high-definition television set online? It's a combination of programmatic advertising and predictive analytics at play. Marketers know that based on your purchase, there are certain types of accessories you can definitely use.

If you just bought an HDTV, it goes without saying that you could probably use some shiny new Blu-rays to play on it. By targeting you with advertisements based on that information, businesses know they have a much better chance of making a sale than if they randomly targeted 10,000 people, many of whom might not have an HDTV at all.

Many businesses don't realize this same idea can also play a very important role in how their direct mail marketing campaigns are conducted.

How Do Predictive Analytics Help in Direct Mail Marketing?

The major benefit predictive analytics brings to the world of direct mail marketing is one of precision. You no longer have to spend time and money each month to send mailers out to all 3,500 people who live in a particular ZIP code. The fact you were sending out materials to many people who ultimately had no interest in your products or services was always just an accepted "cost of doing business," but that doesn't have to be the case any longer.

Thanks to predictive analytics, you now have a better chance of targeting the RIGHT people within a particular ZIP code based on their past interests and behaviors. Instead of sending out 3,500 mailers and achieving a 20% conversion rate, you can save time and money by only sending out 1,000 mailers while achieving an 80% success rate at the same time. It's about giving you a much smarter way to spend your marketing dollars. It's also about empowering you to stretch your marketing campaign's strength even further.

In direct mail marketing, success doesn't mean spending as much money as possible. Instead, true success and market penetration are achieved by spending every dollar the right way. Whether you have $10 to spend or $10,000,000, that theory will always hold true. By making excellent use of advancements like predictive analytics, you can make sure your important materials are actually getting in front of people who find them valuable. This will go a long way toward increasing not only the efficiency of your campaign, but also its general return on investment.

Friday, May 29, 2015

Lessons from Vacation Planning

It was almost the end of senior year at the university. Four close friends -- Sarah, Maria, Andrea, and Kaitlin -- were preparing to celebrate the momentous achievement of earning a degree. To make their upcoming graduation even sweeter, each had found employment that would begin a few weeks after they received their diploma. These girls had plenty to celebrate.

To make some final memories before they headed off into the work world, they decided to take a trip together. They quickly realized, however, that each one of them had a different idea of what constitutes the perfect vacation.

Sarah dreamed of spending days relaxing by the ocean, doing little besides napping by the water, swimming, and enjoying fantastic food by night.

Maria desperately wanted to explore some fantastic cities. She had never been to New York City and thought the excitement of the Big Apple would be perfect.

Andrea agreed that cities sounded perfect, but she thought one of the historic cities of Europe sounded more appealing -- a dose of culture along with the excitement of a city.

Kaitlin was interested in an active vacation, and exploring the Grand Canyon sounded like the perfect adventure to her.

As the girls worked to reconcile their different ideas of vacations, Sarah started laughing. The girls turned to her with confusion and asked what could possibly be so funny. Sarah sighed and said, "I'm going to work for a marketing firm in two months, and I know part of my job is going to be developing buyer personas for a startup. I learned in class how important it is to really understand your buyers, but we've all demonstrated this lesson far more clearly than any textbook."

Here's what Sarah meant.

Marketing one-on-one

Customers expect personalized marketing. General information that leaves questions about the value of products and services won't engage them. Thanks to the Internet, customers are now in control of the beginning of the buying process. They can read online reviews and research companies long before they make a purchase.

To answer this consumer need, companies must learn how to market to their customers on a one-to-one basis. This requires knowing customers on a personal level and knowing what they seek. In-depth buyer personas are essential for this task.

Using buyer personas for personalized marketing

A well-developed buyer persona will mean understanding details far beyond gender and level of education or job. For example, all of the girls in the opening story were college-educated women in their early 20s, but they also had vastly different interests. A quality buyer persona will include information about budgets, pain points, goals, and roles within a company.

Using this information can help you determine the questions buyers are likely to have. This can guide the creation of content and marketing materials that speak directly to potential customers.

The more precise you can make your marketing materials, the more effective they'll be. Identifying buyer personas is an excellent way to refine marketing efforts and better understand exactly who will be responding to campaigns. If you're interested in improving your marketing efforts, speak to us today. We'd be happy to help you learn more about how to market to your intended audience.

Tuesday, May 26, 2015

Online Reviews: How to Learn from the Good and the Bad

Constructive criticism is one of the most powerful tools available to businesses of all types today. After all, who better to tell you how you're really doing than the people you're supposed to be pleasing in the first place? Thanks to the Internet and the scores of online review sites that have cropped up over the years, you don't have to look very far anymore for someone's honest opinion of a product or service, especially now that everyone has an equal voice in the proceedings.

However, the key word in the phase "constructive criticism" is "constructive." Online review sites tend to be a collection of overwhelmingly negative reactions, regardless of whether or not they have any basis in fact. As a result, many people tend to immediately discredit them or wash their hands of online reviews altogether. In reality, there's a huge amount you can learn from both the good and the bad online reviews -- provided you know how to wade through the noise and find it.

Overwhelmingly Positive Reviews: Not as Overwhelmingly Helpful As You Might Think

Overwhelmingly positive reviews can be a great boost to your confidence as a business professional. They can be a great indicator that you're on the right track and that you're meeting the expectations you set for yourself when you started a business in the first place.

Unfortunately, these overwhelmingly positive reviews that give your business 11 out of 10 stars aren't telling you anything you can actually use to make your organization better. Make no mistake: you are never as perfect as you think you are. Every business, regardless of industry, always has room for improvement. While a dramatically positive review may be a nice pat on the back, it isn't something you should necessarily spend too much time thinking about.

Negative Reviews: Finding the Needle in the Haystack

When people are angry, their emotions tend to take over. This is evidenced in just about every one-star review you've ever read for a product or service online. They're usually lengthy diatribes about how "everything was awful" and tend to even mention things that a business can't necessarily control, like the way the post office handled a delivery.

It can be easy to quickly dismiss these types of reviews, but you really shouldn't for a simple reason. At the core of the one-star review is still a dissatisfied customer you can learn from to make your business better in the future. Try to go through a negative review and delete all sentences that are pure emotion. A sentence that says "this is the worst company ever" has nothing valuable to tell you. Once emotion is gone, you'll be left with a much clearer indication of what really happened.

The Math Equation of Constructive Online Criticism

If you want to quickly get to the heart of all reviews and paint the clearest possible image of how you're doing, you need to approach online criticism like something of a math equation.

Consider three reviews: one overwhelmingly positive, one neutral, and one negative. Compare all three, and look for the common elements. Does the overwhelmingly positive review have something in common with the neutral review, like a positive employee encounter? If it does, you can rest assured the referenced employee is truly doing a great job.

Likewise, does the negative review share something in common with the neutral review? Would the neutral review have been more positive were it not for X, which is also present in that one-star comment by a disgruntled customer? If so, then you're looking at a genuine point of contention that should be fixed as soon as possible.

Online reviews are inherently valuable thanks to the equal voice they give everyone, from the people who love your business to the people who don't and everyone in between. People have an instinct to wash their hands of online reviews due to their anonymous nature and the grand emotions that are on display, but this is a mistake. So long as you know exactly what you're looking for and how to find the grain of truth hidden in that emotion, you come away with valuable, actionable information you can use to make your company better moving forward.

Tuesday, May 19, 2015

4 Mistakes You Could Be Making With Your Offline Marketing

Do you think offline marketing is obsolete? It isn't...not by a long shot. In fact, you need to pay just as close attention to your offline marketing as you do to your online marketing in order to achieve success.

Used in conjunction with online marketing, offline marketing can help ensure your message gets across to your audience in a variety of ways, making it more likely they will become customers. However, you have to go about offline marketing the right way for it to be effective.

Here are four mistakes you could be making with your offline marketing and how to correct them.

1. Not Using the Phone Book

Believe it or not, people still have landline phones, and many of them still use the phone book. You may have heard others say that people just toss the phone book into the recycling bin now and never use it. However, many people prefer to look things up alphabetically in a phone book, where it's nice and simple.

Make sure you're not just listed in the phone book, but also have a nice, attractive print ad accompanying your listing. People are more likely to call the businesses with nice-looking print ads than those that don't have them.

2. Giving Up on Direct Mail

What's the point of using direct mail when you have the Internet, right? Well, the point is that people still appreciate the personal touch an attractively printed card in the mail gives them. It shows you care enough to take the time to get a contact's information and send them a card the old-fashioned way. People can take their time looking over a direct mail ad, considering it for days or longer before making a decision. Direct mail gets results.

3. Not Carrying Business Cards

Business cards are still the accepted professional way to introduce yourself and your business to other businesspeople. They're an industry must at trade shows and a courteous thing to provide to new contacts. Don't just assume everyone is going to type your contact information into their smart phone when they meet you. Most people don't have the time. Get good-looking business cards printed up. Include your phone number, email, and website, and hand them out to everyone you meet. An attractive business card still commands respect in the business world.

4. Avoiding Community Bulletin Boards

All of those flyers and business cards posted on community bulletin boards get more attention than you'd think. Flyers get the most attention because they're large and easy to see. Print some bright, eye-catching ones with engaging graphics and a bold phone number in plain sight. Before you know it, your phone will start ringing with new customers. You'll probably get some new ones coming through your door, too.

Offline marketing is still important. It works best when used in conjunction with an online marketing campaign, so you can reach more people and present a unified message. Make sure your ads are attractive, engaging, and intriguing, and you'll get new customers from them.

Friday, May 15, 2015

New Lessons from Seventh Grade Physics

The seventh grade physics class sat in their classroom eagerly listening to their teacher explain their next project. The class would be divided into 5 groups of 5 students. Each group would have three class sessions to design and test a small rolling car. They would all be given a variety of materials to use to design this car. After spending three days on design, there would be a competition to see whose car would roll the farthest. The winner would be automatically granted an A on a quiz that would be administered on the Friday after the competition.

A chance to get an automatic A on a quiz? That was quite the incentive. The class eagerly organized themselves into their groups and began discussing possible car designs. They called upon all the teacher had already taught them about physics and began running formulas to find the perfect intersection of weight and size.

Meanwhile, the teacher looked around the classroom contently. Getting the class fully engaged and interested was always a challenge. This competition had brought everyone to life, however, and the entire class seemed to be actively using the material taught to help their teams. This was definitely an outstanding way to engage the class.

What can we learn from this class?

Like the students in this class, most of us enjoy a little friendly competition. When we desire the reward, we become much more interested in the subject matter at hand. The same principles apply to marketing and branding. Customers love competition, and it can be an excellent way to keep people engaged with your brand.

Competitions can be used in a variety of circumstances.

  • Before a product launch, to bring customers through the pre-launch activities

  • To build excitement for something new the company will be trying

  • To build engagement with existing products and services

Say you're about to open a new store location. You could send out a series of direct mail flyers telling people about the store. You could then invite people to save each of the flyers for an opportunity to earn a free prize at the new store when they bring in all the flyers on opening day. This will encourage people to keep an eye out for your flyers and come to your opening day.

Competitions are also effective online. Consider holding competitions on your social media pages. Encourage people to submit stories of their experiences with your products and services for a chance to be entered in a drawing to win a prize or discount.

People enjoy competition as a way to win prizes, and companies love them as a means of engaging with potential customers. Just like the teacher of 7th grade physics class used a competition to get students interested in the subject, you can use competition to boost sales. Consider the different types of competitions and prizes that would fit with your brand, and see which ones would work best for your goals. If you're interested in getting a new marketing campaign off the ground, give us a call. We'd be happy to help you get started.

Tuesday, May 12, 2015

Using Instagram to Market Your Business

Instagram is one of the most popular social media platforms right now. As such, it's the perfect showcase for your business. With so many people using Instagram, you need to stand out to make an impact with your audience and gain new, devoted followers. This means thinking outside the box. Here are four extraordinary ways to use Instagram to boost your company's success.

1. Show New and Innovative Uses for Your Products
Most of your customers and followers already know what your products can do, or at least what they were initially made to do. However, you can increase user engagement tremendously by showcasing lesser-known things your products can do. Come up with some novel and innovative uses for your products, then post photos of your products being used in those new and interesting ways. Take it a step further by inviting your followers to come up with their own new and interesting uses for your products. Have them send you photos for possible inclusion on your Instagram page. Make it a contest, and award a prize for the most unique and/or useful suggestion submitted via photo. You'll get a lot more participants and new followers, which is exactly what you're after.

2. Show Your Production Process
Give your followers a behind-the-scenes tour of your production space, office, store, and other places where the magic of creating your product happens. Show them what a day in the life of one of your employees looks like. Don't limit your images to just production. Show employee-only areas like cubicles, on-site gyms and daycare facilities, lunch areas, meeting spaces, common areas, and more. Include images of employees interacting with each other in both a businesslike and playful manner. Showcase each individual employee with a mini-bio (your employees will love this recognition). Give your followers an idea of what goes on at your company, and strengthen their loyalty to you by making your relationship with them more intimate and personal.

3. Include Celebrities
Our culture loves celebrities. If you can get an image of a celebrity sighting in your area, put it on your Instagram page. Whether it has anything to do with your product or not, it's sure to get a lot of views. People who come by to view the celebrity image will probably take the time to look at the rest of your Instagram page, leading to more followers and fans for your product.

4. Use the Power of Animals
Just like celebrities can't help but bring views to your Instagram page, animals have a similar power. Share images of cute animals you find that you like. Post photos of your employees' pets (bonus points if the pets are at your office). If you can get an image of someone's pet using your product in some way (even playing with it), your followers will love it, and it will attract new views. As with celebrity images, these new views may very well turn into new followers.

These are just a few ways you can creatively use Instagram to your advantage. Make sure your business has an Instagram presence, then make the most of it. Use these suggestions, and watch your views and follower numbers soar.