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In order for the model to work, however, businesses first need to develop a strong following on social media. "If you have 10,000 followers on Facebook or Instagram, hopefully you can convert 1 percent a week on sales," he says. This allows for experimentation with both product design and marketing strategy; John advises that entrepreneurs consistently play around with both, using social media to "see what works."
Time spent as both an entrepreneur in the fashion industry and a host on Shark Tank has taught John a lot about how brands can go about successfully building a loyal social media following: Here are three of his strategies....
Via Jeff Domansky
Pricing pages have a huge impact on online sales. Designing the right pricing page is key to increasing checkouts and revenue, but there’s a lot more to a pricing page than its design.
Since emotions and psychological triggers influence purchasing behavior, and since consumers depend on products and services to fulfill emotional needs in their lives, pricing pages should meet those needs.
The way things are presented to people affects their decision-making. In this post, we’ll take a look at psychological triggers that influence purchasing behavior. We’ll also go over how to incorporate the triggers into pricing pages.
1. Decoy Effect
According to the decoy effect, consumers have a hard time making up their minds. So, when they are given two options, they tend to prefer the first option because it looks better, even though both options could be exactly the same.
People have a noticeable change in preference according to the way choices are presented. Sometimes, using a third option helps to guide them toward a specific choice. Considering the decoy effect, make sure you offer pricing plans that lead customers to purchase the plan you want them to purchase.
Let’s take a look at The Economist’s famous pricing page to better understand how to incorporate the decoy effect into your pricing page design. The first plan costs $59 for the online version only, the second plan costs $125 for the print version only, and the third plan costs $125 for both print and online versions...
Via Jeff Domansky
For the past year, American Express has experimented with turning over its social accounts to influencers for short bursts of time to pick up followers and buzz. And it appears to be working—at least based on some results from a recent two-week Instagram campaign.
On Nov. 9, AmEx gave six Instagrammers the keys to its account as part of the #MyAmex campaign. The posts were created by graphic designer Ann Kim, chef Christina Tosi, Patrick Janelle (who won the CFDA's first-ever Fashion Instagrammer of the Year award this year), fashion designers Oleema and Kalani Miller, Team Epiphany managing partner Coltrane Curtis and designer Timo Weiland.
The group posted a series of pictures (see examples) depicting how AmEx impacts their businesses.According to AmEx, the #MyAmex posts generated 23 percent more engagement than the brand's other Instagram pictures. AmEx also doubled its average number of daily Instagram followers for two weeks. In total, the campaign generated more than 10 million impressions and 40,000 engagements....
Via Jeff Domansky
Forrester scored companies according to various factors, including the appeal of their website content and use of video. The companies had the potential to score a perfect 30, or obtain a passing score of 20 or above. Only four companies successfully passed Forrester’s test; the average score was 12.8. Forrester did not reveal the names of the four companies that passed its test.
“The biggest problem is that the majority of content talks about the company, what its products and services do and how many awards they’ve won, but doesn’t speak to the issues their prospective buyers are trying to solve,” said Laura Ramos, Forrester analyst, according to Ad Age.
Telling stories, writing in narrative and shooting video were identified as key ways that companies can help their messages stand out among the rest....
Via Jeff Domansky
Content marketing, SEO, and social media should work together synergistically. Each should be its own instrument, working together to create a perfect harmony....
Via Jeff Domansky
Social media strategy is the deployment and development of modern strategic plans for social media. A Social media strategy incorporates these new ways of communication where media is not only broadcast but also shared, commented, opined edited or modified by the public at large.
A winning social media strategy is all about working smarter, not harder. Unless you are an enterprise level company, all you need to truly rock your social media is 30 minutes a day. With automation tools like Pardot to take care of many of the time-consuming and repetitive tasks, all that you need is a well defined daily plan and some self discipline....
Via Jeff Domansky
Social media marketing isn’t enough these days. You also need social media marketing that stands out. Below are some of the most unusual social media campaigns for businesses large and small.
Read this entire list of some of the best social media marketing examples and you’ll find some very clever campaigns and ideas that perhaps you can use in your own business.
Some are simple reactions to the needs of a fan or customer but ended up giving massive brand exposure. Others were calculated steps in the march toward brand awareness. All are examples of social media campaigns that go above and beyond the norm and make a real impact....
Via Jeff Domansky
The marketers, who have learned to subjugate their ego to the reality of the markets, consistently experience remarkable successes.
Google introduced this term to describe the impact of online information, i.e. social media reputation, on the intent of a potential customer to engage with a brand. According to the research that influence, and consumer dependence on it, are growing very fast from year to year.
Consumers checked 10.4 sources of information to make a decision in 2011. This is a dramatic increase from the 5.3 sources
This more recent study found that positive consumer reviews increase both intent to purchase, and product value, by about 7%. An online share (customer review, Facebook share or tweet) has a value of between $0.33 for a brand or store recommended by a stranger, and $1.33 for brands recommended by friends or family....
Via Jeff Domansky
A three-year study from Scratch, an in-house unit of Viacom, found that a third of millennials believed they won't need a bank in the future. These millennials, defined as those between ages 18 to 33, also ranked the top four banks in the "ten least loved brands" and would rather go to the dentist than to their bank.Is this surprising?
This segment of the population has grown up in an era that saw trust in banking erode due to the financial crisis and a near stagnant economy. This is also a period when new technology has enabled firms like Simple, Moven, Square and PayPal to be more relevant with a generation that would rather handle finances on their phone than in a branch.
Here are some of the findings from the Millennial Disruption Index:
Via Jeff Domansky
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What if you had a big blue phone on your desk, and whenever you needed to, you could pick it up and instantly be connected with a smart and caring tech support expert (from your internet provider, your web host, the airline you use the most...)?
What are the chances you'd ever consider switching to a competitor that didn't offer similar service just to save a few bucks?
The current model of big company support is to throw undervalued, undertrained, underpowered human beings at perplexed customers, frustrating and disrespecting them enough that they shrug and give up.
Via Jeff Domansky
With knowledge being the currency of the future, and unbiased information more accessible than ever before, it’s not surprising to see that brands are embracing simplicity and transparency as pillars of their product, messaging, and marketing strategies. A notable shift from pre-digital strategies, where information was often obfuscated and protected, changing consumer sentiment is driving this change – and products are getting better.
Amazon Elements and Target Made to Matter are two great examples of this new approach. At their core, both focus on a fundamental understanding that consumers want to know what they are buying ... from the raw ingredients that go into the products and packaging to the overall environmental impact of the manufacturing and logistics processes. And because openness was embraced from the start, both deliver innovative ways for consumers to interact with that information – including full-featured online product specs as well as scannable product codes that deliver detailed package-level information. Beyond product content, both companies have also incorporated consumer feedback into the product development process, highlighting the importance of a more collaborative, inclusive brand experience....
Via Jeff Domansky
The first company is not proof that social media works. That's not the issue. The issue, of course, is that social media simply "is". It's no different than the focus groups and surveys of twenty years ago. It's both marketing and customer research. It's data. It just "is". You cannot separate social media from the rest of the branding elements of the business. You can't. You cannot prove that social media works, and you cannot remove it from the business. It is not a tactic. It simply "is" the business. And customers are acquired cheaply as a result.
The second company can easily prove that social media doesn't work. They should know. They tried putting some sale messages on Twitter, and nobody responded. The second company is fully confident in their merchandising team. The second company just needs to find marketing channels to communicate the merchandising strategy to the customer. The second company is going "omnichannel". They'll ship-to-store or buy-online-pickup-in-store or get you a discount on your mobile phone when you're in the mall (if the customer ever steps foot in a mall anymore).
Retail is moving in two different directions....
Via Jeff Domansky
Fill your shopping cart, and have your goods delivered to your doorstep. This is the ecommerce experience that Amazon and friends taught us to love, as marketers and customers alike.
According to recent research and developments, new kid on the block “click and collect” apparently scores far higher in customer satisfaction and sales. And is exactly what it sounds like. Customers can click on their computer or smartphone to make a purchase and are then welcome to pick up their goods in person. Too simple to work?
“The importance of click and collect should not be underestimated. It has become firmly established, with expenditure set to grow 82% from 2014 to 2019 to £6.5bn, with clothing and footwear making up over half of all sales. “...
Via Jeff Domansky
A recent study from the Content Marketing Institute found that 86% of B2B businesses use at least one form of content marketing, with social media being the most used method. It also found that the top three problems B2B marketers face are related to content. My company Blurbi (i’m guest blogging here. Hi mom!) wanted to dig deeper into these content problems to figure out how you, as the person in charge of marketing at a B2B company, could optimize your content posting. To do so, we conducted a study of 400 B2Bs across 50 different markets and five countries. In this article you’ll find a recap of our most important results, tied together with results from other industry leaders, and the key takeaways....
Via Jeff Domansky
So what are social signals? Social signals are any type of link from a social media site connected to your blog or website. Some social signals include +1s on Google+, likes on Facebook and retweets on Twitter. For example: If you were on Brandpoint’s Twitter page and retweeted our tweet promoting this blog, you have given Google a social signal.
Why social signals are important, and why should they be your new BFF
Going back to our example, your social signal means you found the content of this blog valuable and worth reading, and Brandpoint to have authority on the subject of social signals, because you’re willing to share our content with your social networking community.
Because of Google’s wishy-washy answers on whether or not social signals are or are not a part of its algorithm, no one exactly knows how strong a role they play in organic SEO. All digital marketers can conclude is that social signals definitely do something positive, and the strength of their effect has grown stronger over time. The more social signals you receive, the more Google knows you have authority on the subject in your brand’s space, and the trust of your audience and consumers. Here’s the equation....
Via Jeff Domansky
A look at the data around use of visuals by public relations professionals tells a few different stories. On the one hand, use of visuals in press releases has increased steadily over the last few years, and the majority of communicators (76%, to be exact) surveyed about multimedia use in PR indicated they plan to increase usage.
That said, the great majority of press releases issued by PRNewswire are text-only, with no visual elements...
Via Jeff Domansky
It’s funny, I spent over $25,000+ to major at UC Berkeley in one of the top undergraduate business programs in the world and I don’t use any of the knowledge I learned there in my career.
That includes product management at Facebook, marketing for Mint.com and marketing at AppSumo.com. Over the years, I’ve learned how to organize an effective marketing campaign.
For the month of February I will showcase different marketing methods to help you grow your own business.
Today, I want to help you set the foundation. Instead of talking theory, I want to take you step by step through my own thought process for marketing OkDork....
Via Jeff Domansky
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