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Mobile Payments: 3 Things Banks Must Do to Survive

Mobile Payments: 3 Things Banks Must Do to Survive | Marketing concepts that matter | Scoop.it

Bankers frequently ask us how mobile payments will generate revenues and profits. But an even more burning question may be: How much do banks stand to lose by not providing a robust mobile payments offering?

 

Some consumers maintain a combination of a checking and savings account and perhaps a brokerage account or mortgage with their bank. Consider the risk to that bank if a national retailer with a financial services franchise including thousands of branch outlets, or a new entrant such as PayPal, inserts itself into that customer relationship by offering a mobile wallet with enticing discounts and loyalty rewards.

 

In this worst-case scenario, the bank loses that valued credit card relationship along with the deposit base as the customer redirects his cash flow. The potential threat is significant: the six largest credit card issuers in the U.S. earned a combined $92 billion in revenue during fiscal year 2012 from their credit card businesses.

 


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What Works in Social Media Marketing?

What Works in Social Media Marketing? | Marketing concepts that matter | Scoop.it

Curious as to why companies are using social media and just how effective are their strategies? We were too.

 

The results of a recent study by Ascend2 called "Marketing Strategy Report: Social Media — What works in social media marketing and how to make it work for you" indicate that companies are getting more strategic about theirsocial media marketing efforts while embracing elements of content strategy.


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Russ Merz, Ph.D.'s curator insight, March 11, 2013 3:40 PM

It appears that the cause and effect chain is:

Content Strategy => Psychological Engagement => Behavioral Engagement

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5 Ways to Start Content Marketing | Business 2 Community

5 Ways to Start Content Marketing | Business 2 Community | Marketing concepts that matter | Scoop.it

In earlier post, we talked about the basic ideas of content marketing. You learned what content marketing is, what tactics it includes, and why it’s important to your business. Now it’s time to learn how to start content marketing for your business.

 

Decide on Your Tactics


There are literally hundreds of ways to use content marketing to get your message out to your prospective customers. We already talked about the more popular ones in my earlier post, so let’s decide which ones to use.

 

According to CMI’s 2013 Content Marketing Report, businesses with more than 10,000 employees used 18+ tactics, while smaller ones use approximately 11. Don’t worry though, this doesn’t mean you have to start off with 18+ right away. You can start slowly, and then build up to other tactics. Remember, you can repurpose content for multiple tactics, so you don’t have to generate content for each one.

 

Here are the top 7 tactics and how they could be useful to you.


Read more at http://www.business2community.com/content-marketing/5-ways-to-start-content-marketing-0429226#cCPfEIPFp3B1UeAF.99


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When Social Meets the Real World - Engagement, Authenticity are the Challenge

When Social Meets the Real World - Engagement, Authenticity are the Challenge | Marketing concepts that matter | Scoop.it

Slam bam thank you ma’am.  

Sounds kind of vulgar doesn’t it? It’s certainly no way to treat someone that we’d want to have a meaningful, fruitful relationship with.

 

But that might be precisely what we’re doing in our Social Media campaigns when we aim to win as many Facebook “likes” and Twitter “followers” as possible and then fail to provide them with anything that’s meaningful in return. And “meaningful” in this context, means something that the other party wants, needs or values. It’s specific to them rather than something that you’ve decided you want to pitch or unload. It can’t be said often enough:

 

A Click ≠ A Relationship

 

At Social Media Week in New York last month, dating was the common metaphor. Digital Marketers, Media Placement Firms, Brands and some of the web’s hottest properties gathered to talk about the industry’s current state and its future. There were stories to tell, problems to solve, bridges to build, and non-stop talk about developing relationships with customers that include both “gives” and “gets.” Throwing the same Social Media campaign at everyone who has agreed to have a “relationship” with you is so yesterday; call it “permission” SPAMing.

 

Everyone is beginning to understand this and they are looking for ways in which they (or their clients) can connect with customers and be something other than annoying.


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Google's Top 20 Mobile Products (and How It Monetizes Them) [Infographic]

Google's Top 20 Mobile Products (and How It Monetizes Them) [Infographic] | Marketing concepts that matter | Scoop.it

Google is fast on its way to becoming a "mobile first" company—within a year mobile will become the primary way users access Google—writes Larry Kim of WordStream, citing information from three Google execs.

To determine how Google generates revenue from mobile, WordStream researched Google's mobile product portfolio, graded the those products (basing the grades on quality, market adoption, value to users, value to marketers, originality, and other factors), and summed up the results in an infographic.

 

Google’s strategy centers on four key mobile product areas:

Mobile advertisingMobile appsMobile contentMobile devices

 

So just how does mobile make money for Google? It depends on the product. For example, Google Maps brings in revenue with its geo-targeted ads. (Location really is everything, especially in offering solid search results.)

"Clearly, Google is positioned to be one of just a few major players in mobile as the revolution continues," writes Kim, adding that "Google has barely scratched the surface of what’s possible" in mobile advertising.



Read more: http://www.marketingprofs.com/chirp/2013/10286/google-mobile-products-top-20-infographic#ixzz2NFn8rUx1


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Russ Merz, Ph.D.'s curator insight, March 11, 2013 1:35 PM

Some interesting stats about Google's activities in the mobile market.

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21 Social Media & Content Marketing Tips Tailored For Small Businesses | Heidi Cohen

21 Social Media & Content Marketing Tips Tailored For Small Businesses | Heidi Cohen | Marketing concepts that matter | Scoop.it

Social media and content marketing are must haves for any business. This need is more important among small and mid-size businesses where additional marketing requires a trade-off for other scarce resources.

 

Most important among these is time, especially the owner’s or solopreneur’s time since there’s always something else that needs to get done that will yield an easily measureable return.

 

Due to this time crunch, small businesses tend to move from one business fire to the next without fully thinking through a longer-term marketing plan to support business growth. UMass Dartmouth’s research, 2012 Inc 500 Social Media Settles In, supports this point in terms of social media. The research found that about three out five small and medium size businesses couldn’t track financial results for their social media efforts.

 

As a small or medium-sized businesses person you know that it can be difficult to find the time to brainstorm marketing initiatives – specifically social media, content and search marketing initiatives that you can track (Here’s how to create a social media plan.)

 

Here are seven questions you can ask about your small business marketing efforts. By answering these questions, you can direct your time and resources to where they’ll yield the best results.


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How Google Trends helps any business grow in 8 simple steps

How Google Trends helps any business grow in 8 simple steps | Marketing concepts that matter | Scoop.it

90% of all purchases begin online (source: IBM). This happens because it’s easy for us to type the keywords for what we need into the query box of a search engine.

 

If there was a Library of Congress for keywords, it’s be Google Trends. It’s the largest catalog of keywords in the world. Google Trends stores, charts and trends every keyword since they began monitoring them. Google Trends also identifies similar keywords and shows the location where they are searched most often. It’s probably one of the most valuable business building tools available, online or offline.

 

How does it help grow any business? Here’s how in 8 simple steps.


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Russ Merz, Ph.D.'s curator insight, March 11, 2013 11:12 PM

Steps with examples how to use the Google Trends tool.

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Incredible Statistics, Facts And Figures From The Social Media Revolution [INFOGRAPHIC] - AllTwitter

Incredible Statistics, Facts And Figures From The Social Media Revolution [INFOGRAPHIC] - AllTwitter | Marketing concepts that matter | Scoop.it

Incredible Statistics, Facts And Figures From The Social Media Revolution [INFOGRAPHIC]  

 

Did you know that Britney Spears, Lady Gaga and Justin Bieber have more Twitter followers than the entire populations of Sweden, Israel, Greece, Chile and Australia… combined? 

 

What if I told you that if Facebook was a country, it would be the third largest in the world? Or that someone signs up for a new account at LinkedIn every single second?

 

Would you be amazed to know that if Wikipedia was made into a book, it would be more than two million pages long and take 123 years to read?

Social media has revolutionised the world, but in and of itself it’s quickly established some incredible statistics. Check the infographic below for some of most jaw-dropping facts and figures from Twitter, Facebook, Pinterest, YouTube and more.


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Russ Merz, Ph.D.'s curator insight, March 11, 2013 1:33 PM

Some amazing stats about social media in this infographic.

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5 Ways to Start Content Marketing | Business 2 Community

5 Ways to Start Content Marketing | Business 2 Community | Marketing concepts that matter | Scoop.it

In earlier post, we talked about the basic ideas of content marketing. You learned what content marketing is, what tactics it includes, and why it’s important to your business. Now it’s time to learn how to start content marketing for your business.

 

Decide on Your Tactics


There are literally hundreds of ways to use content marketing to get your message out to your prospective customers. We already talked about the more popular ones in my earlier post, so let’s decide which ones to use.

 

According to CMI’s 2013 Content Marketing Report, businesses with more than 10,000 employees used 18+ tactics, while smaller ones use approximately 11. Don’t worry though, this doesn’t mean you have to start off with 18+ right away. You can start slowly, and then build up to other tactics. Remember, you can repurpose content for multiple tactics, so you don’t have to generate content for each one.

 

Here are the top 7 tactics and how they could be useful to you.


Read more at http://www.business2community.com/content-marketing/5-ways-to-start-content-marketing-0429226#cCPfEIPFp3B1UeAF.99


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How Gamification Can Impact Employee Engagement [Infographic]

How Gamification Can Impact Employee Engagement [Infographic] | Marketing concepts that matter | Scoop.it

This month we explore the connection between employee engagement andgamification. It's a partnership that many companies have been wrestling with for a few years now. The idea that incorporating simple, but meaningful "games" into workflows can somehow enhance an employee's productivity, while providing some healthy competition isn't so far-fetched. But like anything designed to disrupt the traditional nature of work, the success of gamifying the workplace comes down to people and process.

 

Why Gamification?

When done correctly, gamification can inspire, motivate and help team members collaborate more effectively and more organically overtime. And face it, most us need to feel inspired and could use to be motivated about work, these days. In fact, according to the recent Gallup-Healthways Well Being Index, seventy-one percent of American workers are not actively engaged at work and as a result are less likely to be productive. Lack of productivity doesn't just mean lack of innovation or decreased revenues, it also means lower morales and bad attitudes.

 

Earlier this week, Jason Silberman talked about the pros and cons of game mechanics, in which he calls gamification "one of the more interesting and unique organizational learning strategies that are worth considering trying." And many companies are wading into the gamification waters. In fact, in just three years Gartner predicts that those companies who are focused on increased and improved innovation, more than half will have gamified their processes.


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25 Fantastic Examples of Branding

25 Fantastic Examples of Branding | Marketing concepts that matter | Scoop.it

Branding is a big part of any business, it’s what identifies you and the image you’re trying to achieve. It’s also what people recognise you by, so it’s very important to get it right. Some businesses when creating a brand will go all out, a new logo, new business cards, new envelope designs and much more.

 

This post shows off some of the most unique and inspirational examples of branding.


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Russ Merz, Ph.D.'s curator insight, March 10, 2013 1:09 PM

Good examples of brand identity elements.

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How To Make A Video Go Viral — Based On The Variables In This Algorithm

How To Make A Video Go Viral — Based On The Variables In This Algorithm | Marketing concepts that matter | Scoop.it

Brands, take note! There's no denying the power of a viral video. 

 

The Dollar Shave Club is now a legendary example. The company, which sells $1 razors, made a low-budget video that went so viral it crashed the company's website almost immediately after its released. Currently with more than 9.6 million views, the ad's deadpan humor put the company on the map and led to $10 million in venture Capital funding.

 

While Dollar Shave Club hit the jackpot, just being funny isn't enough to guarantee going viral.

 

Unruly Media tracks the most-shared videos on the internet — there's a difference between watching a video because you're bored and liking something so much you share it with a friend — and has come up with an algorithm that allows advertisers to know whether their ads will blow up.



Read more: http://www.businessinsider.com/how-to-make-a-viral-video-2013-3?op=1#ixzz2NG2sl47t


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Russ Merz, Ph.D.'s curator insight, March 11, 2013 2:39 PM

The psychological science behind predicting viral sharing.

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Emotion is the Key to Transform Satisfied Customers into Devoted Advocates | CustomerThink

Emotion is the Key to Transform Satisfied Customers into Devoted Advocates | CustomerThink | Marketing concepts that matter | Scoop.it

Building exceptional customer experience has made its way into corporate missions of many businesses. But achieving highest customer satisfaction alone is not a guarantee to make your business stand above and beyond your competitors, because satisfied customers may not have affinity toward your brand.

 

The Holy Grail to get ahead is by transforming satisfied customers into brand advocates—customers who show affinity to your brand via frequent purchases, cross purchases, aversion to competitor promotions, and recommending your brand via their spheres of influences. In John H. Fleming and Jim Asplund's book Human Sigma published in 2007, the authors analyzed customer experiences and reported that extremely satisfied customers can be classified as two distinct groups: rationally satisfied and emotionally satisfied. Emotionally satisfied customers are those who are rationally satisfied as well as emotionally attached.

 

They found that only those emotionally satisfied customers demonstrated brand affinity. Interestingly enough, the rationally satisfied customers showed no difference in spending characteristics when compared with the unsatisfied ones. This is why merely building exceptional customer experience is not a strong enough revenue oriented corporate mission, building or improving brand affinity is.


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Customer Experience Journey Map – the Top 10 Requirements | CustomerThink

Customer Experience Journey Map – the Top 10 Requirements | CustomerThink | Marketing concepts that matter | Scoop.it

A customer experience journey map is an incredibly useful tool to understand and improve your customer experience.  A great map documents your customer experience from your customer’s eyes, helping you to understand not only how customers interact with you today, but also identifies improvement opportunities.

 

Unfortunately, there is no standard for a customer experience journey map.  It can be built following high-quality design principles, or use smiley faces.  It can be a work of art, or something that looks like it belongs on a napkin.

I have included an sample on the right, as well as some useful links at the end of this post for those unfamiliar with a customer experience journey map.  The map may go by a different name, such as customer experience map, journey map, touch point map, etc.  The map provides a visual representation of how your customer uses your product or services, or how potential customers go through the shopping process.

 

In this post, I will detail the criteria we use at SMS Research Advisors to design and build our journey maps.  Please give feedback and comments as to what you see as critical.


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Russ Merz, Ph.D.'s curator insight, March 11, 2013 4:45 PM

Presents a very useful tool for visualizing customer experiences with the brand. Very similar to the behavioral sequence model from Percy and Rossiter.