I am happy to announce that 49Above Marketing recently launched its Latin American operations in Mexico City. If you like to check out the website you can find it here www.49above.com.mx. The new office will be located in Polanco, Mexico City and serve the entire Latin American countries as well as clients in Spain.
The (Sur)real World Of Social Media Marketing
We all read the many books and blog posts elaborating on social media marketing and its effects. Innovative e-commerce companies let their employees blog and interact in other ways with its consumers, helping to spread the word about the company and its products or services.
Many of us use social media sites like Facebook, Myspace and others, and we naturally interact with people around the world who we maybe never met face to face. We discuss topics in forums, have hundreds of people on our “friends” list and trust that our online contacts are who they are - a real human being. This all might be true if a company lets their employees blog and interact, but what if things are not as real as we thought they are?
Taking It To The Next Level
Would it not be convenient for a company to control the information that floats around the internet about its brand, customer service and general perception / opinions of the company?
Let’s say company X wants to launch a new product and needs to create a buzz to enhance its awareness. If company X’s employees start getting the ball rolling they will still be percieved as biased by friends, however if an army of independent internet users across all demographics and geographics start talking about company X’s new product the bias vanishes.
Companies have been hiring bloggers for a long time to promote their products and services, however social media opens a whole new world for online marketers. Having this army of maybe 1000’s of online profiles, connected to the rest of us as a”friend” through the social media networks, independent from any company or brand can be a very powerful tool. This is where social media marketers come into play. Why not build a database with 1000’s of artificial personalities, each with its own character, history and life? These artificial people are kept alive socializing on the net, without ever leaving a clue of being fake. Companies hire the social media marketer and suddenly there is control again about what people think, talk and comment about. Negative comments about the company can be easily discredited right away, brand perceptions can be influenced directly and a buzz for a new product is created in no time.
Published by:
Lasse Kubiack
Twitter: http://twitter.com/lassekubiack
Posted in Social Media Marketing.
Marketing in a Recession
The first reaction of many companies during challenging economic times is to cut back on Marketing spend. Is this always the right decision?
Whenever a recession occurs, consumers become more price and value sensitive and adjust their spending habits. However, this does not mean they stop consuming. There is this saying that every crisis bears opportunities and given the current circumstances this seems to be true.
How to Turn a Crisis Into an Opportunity
When planning the 2009 marketing budget, the following points should be on your checklist:
Maintain your Marketing
Trusted and known brands are still trusted in difficult times, however in this special economic situation the added security that comes along with this brand can play in the companies favor. Cutting down your marketing budget and thus disappearing from the consumers eye will ultimately drive down sales even more, hurt the brand and make it volatile to the competitors brand, who decided to use the situation to gain market share and appear even stronger after the economic downturn dust has settled and things are back to normal. The scared and uncertain consumer is looking for stability and reassurance during times like these.
What to do if cutting down on marketing spend is not an option but a necessity? Maintain the visibility of your brand, however do adjustments if necessary. Companies utilizing Pay-Per-Click not as an acquisition channel, but as a branding channel could cease the use of this medium and e.g. intensify the affiliate marketing channel and its CPA model along with lower banner advertising CPM rates during this period of time.
Revise The Product Portfolio
Economically challenging times demand more multi-purpose goods and lesser specialized products. Consumer tend to buy products that provide reliability, performance and durability and stay away from experimental products. As well customers want to get the full view on their options and no bundles with little or no clarity how they are priced. Provide single item prices even when selling a bundle so that the advantage to the customer is obvious.
Since an economic crisis offers opportunities, don’t shy away from introducing new products that benefit the consumers in this new economic situation and challenge the competition. Don’t forget in order to sell the product your marketing needs to empahsize its cost-benefit performance and not the prestige of your brand.
Revise The Pricing Strategy
The nature of an economically challenging time makes consumers looking for bargains, reduced price and deals that provide them with the best” bang for their buck”. Run time limited pricing promotions, offer coupons, reduce certain volumes necessary to qualify for a discount, and don’t waste your budget for sweepstakes. Your enhanced pricing strategy will drive more business than anything else.
Published by:
Lasse Kubiack
Twitter: http://twitter.com/lassekubiack
Posted in Industry Trends, economy.