Call us 0800 088 7486
Online marketing may have taken a huge chunk of revenue away from print advertising, but many big companies are still spending millions each year on TV adverts.
According to the New York Journal, advertising spends on American TV are due to grow 3.3% this year.
But a new study shows that even whilst watching TV, many Americans are still using the internet.
In fact, 56% of Americans said they remained online whilst watching TV, with 29% actively shopping and many others using social networking sites – allowing them to discuss plot twists, characters and events with friends in real-time.
The survey suggests that, even with the best TV advertising, many viewers’ attention will still be distracted by the internet.
This may suggest a joined-up approach between online and TV adverts could drive new customers to a website through clever online or social media marketing.
But conversely, it may signal the beginning of the end of TV advertising, in the same way print advertising has lost huge amounts of revenue year on year as the internet has gained ground on competitors.
With the advent of smaller, more portable smartphones and tablets allowing access to the internet anywhere and everywhere, traditional media is going to have to compete even harder to distract new customers’ attentions from the internet.
News brought to you by ClickThrough – a best practice Internet Marketing Agency.
Here are a few reasons you cannot ignore Empire Avenue. This is some of what I have discovered after almost two weeks playing on the latest social media hot property.
In case you don’t know, Empire Avenue allows people across the world to buy and sell shares in individuals, brands and businesses. Your share price is based entirely on your social media activity, both within the site, and also on an ever-increasing variety of social media properties, such as Facebook, Twitter, LinkedIn, FourSquare, Tumblr, blogs and so on.
It could be seen as a game, but it is also much more than that.
Empire Avenue launched around a year ago, in beta, to a small group of friends and family of the Canadian developers. It has obviously undergone some fairly radical changes during that time; including a major reset which returned everyone’s share prices, which they had worked extremely hard to increase, to 10eaves.
(The virtual currency on the site is Eaves, which you can earn by carrying out a multitude of tasks – from joining and commenting in discussion groups, earning badges, adding new content, buying and selling shares, and generally getting engaged with the site and the social media sites which it links to.)
Empire Avenue only really began to come to the notice of the social media world a few months ago when individuals such as Robert Scoble (aka Scobleizer) began “playing” and then interviewed the man behind the Empire Avenue concept, Duleepa “Dups” Wijayawardhana
I joined because there is never any point in hearing about something new and not looking into it. And some of these applications cannot be assessed easily in just a single visit when you have half an hour to spare. Empire Avenue needs a small amount of dedication to really get to grips with what it could prove capable of – for businesses, for brands, for internet marketing agencies, for individuals looking to network.
So, after two weeks here are a few thoughts about its potential value to YOU.
Firstly, if you are not actively engaged in social media by now, you a) should be and b) EAv (as it is known on twitter) will help you to see where your efforts may be better co-ordinated and effective.
Your profile and interests offer you the chance to describe to passers-by (and potential investors) what you and your business is all about. You can go into detail using the interests section, and this offers you a great chance to make the most of your SEO keyword list.
By joining up all of your social network accounts – Facebook, Twitter, Blogs, Tumblr, Flickr, youtube, RSS Feeds from your social bookmark accounts, etc – you become a better prospect to invest in. BUT, this action alone will help you see where you are missing a few tricks to get onto as much social media real estate as possible, and to populate these sites with VALUABLE CONTENT for your target audience.
As you can see from this screenshot, the boxes on the right show the scores out of 100 for social networks. This would immediately infer that more work is required on the Facebook fanpage, LinkedIn, Flickr and Youtube to bring those accounts into line with Twitter, the Facebook profile and Empire Avenue activities. This is 100% true that those accounts are under-used and partially neglected – these are my own personal accounts and I never seem find time to upload videos or photos.
So, if you have only one video on your YouTube channel – isn’t it about time you made another?! If you have no photos on Flickr, why not add your entire product catalogue, add keyword rich descriptions, and tag them all?
All of these actions will also help with your search engine optimisation efforts. So, it’s a win-win.
Are you using an agency to do your social media marketing? Or using in-house resources? Once all your accounts are linked up, you have a great, free, third party tool to assess how well those actions are working. Eav assigns a score out of 100 for the content and engagement of your activities, and this is very valuable for any business to see whether your social media campaigns are being effective.
If you are using a social media agency to carry out your campaigns, this is a very simple mechanism for checking whether activities are being carried out regularly, and are capturing the necessary target audience and engaging with them. It need not be the only tool – there are also sites such as Klout.com and PeerIndex.com which help you measure effectiveness and authority as well. Empire Avenue is just one of many options to measure your social collateral, but it is a fun and easy way to do so, whether you are an internet marketing client or an agency providing social media marketing services.
The final comment has to be about the networking and exposure possibilities. Just having a presence on the site does give you a chance to engage with others in your industry, in your area, and whilst it is still new and fresh, it allows you a unique opportunity to talk to some of the biggest brands and names in the business. After all, it is not every day you get a message like this:
Or this:
More to follow soon as more of the intricacies and subtleties of the application reveal themselves.
The Guardian is reporting that Apple have toppled Google as the biggest brand in the world.
Just before this puts the world into a spin on Monday morning, I’d like to look at how real this thinking is. OK, it’s only one list, but this is going to be big headlines, as no doubt the researchers, Millward Brown, knew when writing their press release.
Obviously, the world revolves round money, stock markets and brands, (or the world that makes news does) but in reality much of this is very nebulous. Millions of dollars can be wiped off a company’s value (and hence brand) over night often for seemingly spurious reasons.
Is Apple a better brand? There are, of course, the Apple fanboyz, just as there are for Open Source, or Marmite, or thousands of other brands. But is the estimated market price of a company a true reflection of its value? After all, surely the consumer is the best judge of value? And should brands seek purely to increase perceived market value rather than customer satisfaction?
Consumers, as we know, are often forced/persuaded into purchase through sophisticated marketing and advertising techniques. That is what many in our industry do for a living. But, to date, the largest brands have seemingly failed to be penalised in such assessments or valuations for poor ‘after sales’ service, and are judged purely on sales figures ie money in.
What would be most interesting, is to see how many people have forked out for an expensive Apple item, and then never bought from Apple again…. for instance. Where is the satisfaction index?
Here’s mine. Our Apple satisfaction index is very low.
Our Mini Mac (now quite unloved) stopped working properly within less than 2 years of purchase, and despite a long trip away to an Apple repair shop, it now does only the barest minimum. And that whilst making the most horrendous noises.
Then, thinking those who espouse Apple, and whom I respect, must be right and that the MacMini experience was a mere blip, I recently acquired, against my better judgement, an iPhone. I was travelling, my 3 year old handset gave up the ghost overnight, and I needed a phone to get hold of the people who I was supposed to be meeting that day. This iPhone has, to date, driven me up the wall (even more so than the Nokia N97 it replaced) and really, if I lived nearer to an Apple Store, this latest handset would also go the way of the previous one – for replacement or refund. (THAT is a whole other post over the fact that handsets now last less time than your mobile phone contract).
The last iPhone had zero battery life and was replaced after 3 weeks (would have been much sooner but I couldn’t get to a store).
This one refuses to connect to a network, of any flavour – GSM, wifi etc – most of the time. It is bordering on useless for every reason I got it – phone, online, wifi. It is right now as much a smart phone as my cat is. The only thing that does work well is the camera but I can only share my photos if I go through a mind-bendingly tedious process to remove and share them. Whilst plugged into my attached-to-a-landline computer, which means the word ‘mobile’ is bordering on anathema to my iPhone.
From what I can see, the vast majority of apps in the AppStore (ditto the Android store apps according to the BBC) are not really worth the time their developers’ have spent on them, although there are some glorious gems such as Photosynth which has solved a problem I have had for years – stitching a panorama together. But that comes from Microsoft! (And of course, I can’t view my final attempts on the Net as that requires Silverlight, which Apple does about as well as Flash).
Let’s be balanced though, considering the headline – there are days I dislike and distrust Google too, as part of my general distrust towards big business vs small business, consumer and community interest, but looking at what has been achieved by Google for the customer – gmail, maps, search, and so on – I feel more comfortable in assigning a value to Google for services, than I do to Apple for products.
I am though quite concerned that the two biggest companies in the world, as of this morning and a single assessment (let’s make that clear!), suffer such a major #fail when it comes to those that matter most – the people who buy their products. Google will not answer questions in their forums; yet, there seem to be hundreds of thousands of people with problems that affect their daily lives, businesses etc. Apple suffers similar issues – the AppStore is full of them. My iPhone problems were only solved after I drove 200+ miles to a store – which now makes this device the most expensive I will own in a hurry.
But I cannot afford to be without a phone for the x days/weeks it takes to replace this one, which hasn’t worked properly since the day I got it. And as to my MiniMac problems – it’s now a very expensive box on the desk I should probably tidy away, into the bin.
So, in conclusion, whilst the money markets may make the headlines, and encourage other brands to aspire after those wielding the highest stock prices, is that what you should be doing with your brand?
I don’t believe so.
It comes down, I believe to a slightly different approach to assessing brand value. Social capital sells, as well as Quality Goods. Which. Work. Rushing to market to get the headlines and hence these type of valuations are all well and good, but personally, I may buy a PlayBook which is late to market but probably does what it says on the tin rather than an iPad. How will that decision be reflected in the news?
Traditional business values often bring you longer term value than any shiny quick wins. Many of the most successful businesses are not hitting the headlines of WSJ, NYT, or any of the British broadsheets this morning. They just keep on delivering, day after day, to a happy customer base who will support them through generations.
THAT is value. But it ain’t news. And sadly, those hard-working valuable companies will be written off by the meeja and thrown to the wolves by newcomers’ shiny claims. Leaving us with an ever-decreasing QUALITY for consumers in the rush for the headlines and the stock valuations.
Have a great week! Your comments are as ever welcomed.
I’d like to lay a bet that this summer location based services and mobile search hit the ground running. However, they can only achieve the potential offered if companies actually use location based tools, apps and services to reach the target audiences.
I am going to pick on a single event, and hopefully illustrate how it can benefit local companies and their customers.
This is due to be held in Carlisle. Interestingly, looking at Twitter, a large proportion of those who applied for, and then won, tickets are unsure of where Carlisle (or even Cumbria) is.
Enter location based marketing. Hotels, hostals, campsites, breakfast vans, police, ambulance, hospitals. Trains, taxis, private hire, buses. Radio stations, press. An umpteenitude of services will surely be required?
Think that 40,000 people don’t need something from you over a long weekend? OK, if you aren’t willing to spot the gap in the market for your products, then make room for all those who will be selling merchandise, sorting out luxury tepees in Brampton, running taxis etc.
Location based marketing could well come of age this summer as more and more people rely on their smartphones for information rather than asking those passing in the street. People will resort to the Net for solutions.
As we move into festival season, and despite the recession, we will find more and more of the 18-35 demographic seeking solutions online from their newly found homes [read: fields].
Is your company listed online in as many places as possible for your target audience to find you? Are you cross-linking between local companies and chambers of trade for maximum effect?
Just because you only sell suckling pigs to the trade near Carlisle, Glastonbury, Reading etc, don’t assume that you may not have a market….Ditto if you sell hot air balloon rides, late night limos, or half days on your farm. Each of the latter may seem unlikely landing points for a festival-related search, and yet each of the above may bring you customers during an event where people have travelled from far and wide and intend to have a ‘holiday’.
Locating yourself on the map could be the best thing you have done for years. Making your website user-friendly, mobile friendly and with a clear ‘market place’ of your offerings, could bring you in those bookings that capitalise on an event near you, with very little expenditure on your behalf.
And don’t forget offers on Foursquare and Gowalla as well as checking the hashtags for major events near you that you could benefit from by engaging in any conversations on Twitter.
Marketing can take many forms.
The purpose of it is to raise awareness of your brand, company, products and services.
Simple, striking, and low cost solutions to marketing (often called: guerrilla marketing) can reap you results that can be unexpected.
Think barcodes.
Well, you probably don’t. But maybe you should.
Your barcodes go on probably the majority of the items that you sell.
For inspiration, check out this from Multyshades.com
….And don’t look back!
As we come to the end of Comic Relief, and in the midst of several global crises, it is time to look at what can and cannot work when businesses jump on ’cause-tied’ marketing. (A phrase I have plagiarised from the WSJ)
The Ugly
Previously, we have written about the mistakes made by those who have endeavoured to leap on the bandwagons created by ’causes’. Bing comes to mind as the most recent #fail. It did get ugly for a while on Twitter until the apology and donation made to Japan.
The Good
ClickThrough have tried to approach cause-tied marketing in a good way, by making the most of Red Nose Day and yet not tying our own contributions to those from others. Consumer influenced contributions can work for some issues e.g. some crisp manufacturers and supermarkets have tied their contribution to efforts from others, but usually for far less emotive issues – such as books, cookery, or sports equipment for schools. For those who don’t know, Red Nose Day, for many Brits, is one of the great causes, like BandAid, that we will all support in it’s quest to rid the world of poverty. Schools, companies, organisations, villages and individuals all get together to help Red Nose Day raise funds, and this year “On The Night” raised an astonishing £75million with its TV shows, phone-ins and online activity.
The Bad
This is a large category, as so many fall into the trap of trying to promote their companies whilst seemingly helping those at the heart of a cause. In fact, so many PR attempts fall into this category that it should ring a warning bell for any company when considering using a cause to promote their business.
The only way to ensure that you do not find that pitfall is to be honest and honourable when supporting a cause. Ask yourself not WIIFM (What’s In It For Me) but How Can We Help? This Ebay listing for a wetsuit being sold to raise money for Japan will undoubtedly be taken down shortly, but this is a prime example of how to do it right.
Whether it is searching Twitter, engaging with fans on facebook, watching competitors’ videos on Youtube, checking social bookmarks on delicious and Digg, or just drifting nonchalantly through the forums, you may find your time vanishing into the clouds.
Now there is a great tool for helping you manage your time online. Called, not surprisingly, Eggtimer, it can be set for any amount of time (including 5years 3 months which is a tad worrying!)
The latest report from the University of Masschusetts Dartmouth Center for Marketing research may initially seem to imply that the largest Fortune 500 companies are adopting social media (e.g. Twitter and Facebook) more quickly than their smaller counterparts in the Fortune 500.
However, the reality is that whilst 35% of the Fortune 500 companies tweet and use Facebook, much smaller (and hence more agile) fastest-growing companies in the US already showed a 91% usage of at least one social media tool in 2009.
It would seem that the larger companies have some catching up to do, and that smaller companies have an advantage at present when it comes to adopting the use of social media for many purposes. Marketing, CRM, collecting consumer feedback, reviews, and raising brand awareness are all reasons you should be adopting a social media strategy today.
The BBC is reporting that virtual goods will make billions over the next few years on sites such as Facebook and gaming sites.
This however is only a new phenomenon to the West and to the BBC! Sites such as Cyworld in Korea have been in profit for several years due to the introduction of a currency (acorns) which permits members to buy virtual goods for their ‘mini worlds’, as gifts for friends and so on.
In addition, many gamers have been earning real world cash by developing characters for games and then selling these on eBay and other sites. About 5 years ago, I remember reading about a teenager who sold a game character for $20,000 to a gamer who did not have the time to play and wanted an advanced character in a role-playing game.
Goods created from 1s and 0s are likely to gain popularity in certain circles as we move into a world where ‘free’ ceases to mean ‘free’. As long as the purchase price is a no brainer, and below the line where transaction decisions need to be seriously considered, it is likely that micro-purchasing may finally find its niche.
To date, micro transactions have been stymied by the costs of processing the transaction through the banking system, but it is likely that 2010 and beyond will see the resolution of this; perhaps by the introduction of systems which allow people to buy ‘credits’ for whole networks eg Facebook, which can be spent in a variety of applications, games, and even perhaps with e-commerce providers who offer digital versions of their product set.
For many, it may be difficult to see how this can fit their business model, but for those with a little imagination, it may be time to look to the East and see how this has already become a mature market there. As a marketing gimmick, it is a good idea, but as a method for generating revenue, it may have far more legs.
Although vouchers and coupons seem to have a rather lowly image in this country, they can bring in additional trade, and help create “word of mouse” promotion for your company.
Kelkoo have just announced that they are adding voucher codes from MyVouchers, allowing shoppers access to 250-300 new codes each day to get discounts from over 2000 online retailers.
During times of recession, and particularly in the New Year when the credit card bills begin to bite, this is precisely the type of alternative that will help you find customers and build brand loyalty. Plus, it is has that “feelgood factor” for shoppers that they have found themselves a bargain.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=12bb3896-8ab1-4711-b4b7-fa84dcd13536)
