Being as how it is always very interesting to read about what is going on in the huge Google world, this post caught the eye on the Wall Street Journal website. As stated in the first part of the article, there has been many issues with the ad fraud problem being faced online. Now, ad companies are doing their best to prove to new and existing clients that this is just a slight bump in the road and things are being handled and managed appropriately.
Google, of course being pretty much the biggest online advertisement mogul is implementing a new ad fraud program feature that has been instilled into it's DoubleClick Bid Manager automated ad buying platform. This new program is designed to rest assure marketers that they are not buying, "hidden" ad impressions, which when bought are basically never seen by a consumer or consumers. It was stated also in the post that the most common form or method of hiding ads is stuffing multiple ads into small areas or windows of webpages that virtually make it impossible to be seen by any user viewing the page. The product manager at Google, Payam Shodjai, later explained in the post that Google has already been using this technology to filter out hidden ads across its own ad exchange, but the Bid Manager product also allows marketers to buy ads from ad marketplaces ran by third-parties. In conclusion, this post goes to show that buying ads is not as easy and sound as it may seem. So, therefore when pouring hard-earned money into investments such as ads it is very important and crucial to make sure you are purchasing from an ad company that has a handle on the "hidden" ad problem that has been an issue for many years, such as Google.
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This week I had the pleasure of writing a book review over Seth Godin's Permission Marketing. Godin begins the book by conveying his thoughts and views pertaining to the old traditional style marketing such as mass marketing and interruption marketing. He further elaborates on how these traditional marketing tactics are becoming more and more useless and wasteful as time goes on. The issues that lie within the demise of these forms of marketing are forms of annoyance and clutter towards the consumer. These forms are contributed by the marketing or advertising of either to much information or to many ads, not at the right time or for lack of time, or just the wrong product or service for that consumer. Thus, bringing the new modern form of marketing constructed by Godin called permission marketing.
Permission marketing is presumably the opposite of mass and interruption marketing. Godin explains that permission marketing is the process of trying to gain the voluntary approval from a consumer for that consumer to be marketed to further. To further elaborate on that thought, permission marketing is granted when the consumer anticipates or wants to hear from the company or business, feels the emotional bond of being related to as not just one of many but one on one communication, and also is marketed to for the right or relevant product or service. Thus, meaning there is at first the permission questioned to talk or communicate further on a certain subject, afterwards there is a relationship started that will hopefully evolve into way more than just a customer or consumer, but a loyal life-long customer. Godin also mentions many specific examples of companies who are managing permission marketing quite well. One company emphasized quite well in Permission Marketing is Amazon.com and their ability to legally data-track their consumer's purchases and then afterwards use that information to further the buying process of that consumer with referring other similar products or information on other similar products as the one purchased before. In the latter chapters of Permission Marketing, Godin also makes a couple very valuable statements regarding keeping consumer lists and their information provided in agreement for further communication safe and confidential meaning not selling out to third-party data or marketing agencies or companies, and furthermore that when there is a deal made with that consumer then that deal is like a contract and should be carried out exactly the way the terms were stated from the very beginning. Was a very good read and highly recommended for any business and or marketing interest related mind. In an article found on businessinsider.com, written by Drake Baer, Baer discusses why customer experience buying is much more important and makes customers more happier than compared to just buying material items or such.
Baer also goes into describing quite an interesting study or survey that was given to a thousand test subjects who were asked what purchase would increase their happiness, a material item or an experience buy. After conducting the research, it was concluded that 57% of the sample population chose that they the purchase of an experience would indeed increase their happiness. On the other hand, only 34% of the sample population chose that a material item would raise their level of happiness. Yes, this was a smaller sample size than can be compared to the whole world in general, yet it was enough evidence and as it showed over half of the population agreed that experience purchases were more dear to the heart than material. Dan Gilbert, Harvard Psychologist, explains later on in the article why this is so. Gilbert went on to explain that people adapt to things such as objects very quickly, which usually leads into complacent forgetfulness or just the fact that the object fulfillment is over. When reverting back to experience buying, Gilbert stated that anticipating and remembering events, or experiences is far more relevant to the retaining of that experience in the mind. Simply because of the fact that its easy to forget a purchase such as new flooring after consumption and fulfillment is already past due to the relevance left to retain. Whereas, an experience such as a Bahamas cruise with palm trees and beautiful sanded islands, or an African safari with exotic animals is much more than just a purchase. Such experiences allow the customer to retain those memories and look back on those experiences and embrace the happiness conceded. Will conclude this blog with a pretty accurate statement by Mr. Gilbert, "When you purchase an experience, you see a change in your environment and also a change in yourself. Found this article interesting due to the fact that marketing experiences can be a very useful tactic when working on marketing or advertising campaigns. As a follow up to the recent blog posted about the reasons why Big Data could or could not be the answer when it comes to which companies or industries have the need for such a tool, it was apparent that after researching for another article interesting enough to blog about that there are many contradicting articles pertaining to Big Data. In an article on Forbs.com, written by Jonathon Gordon and Dennis Spillecke, both authors argue the reason for the use of Big Data, and also in that event, stated some very interesting trends to back their argument.
There was much speculation in the last blog unto which industries should be utilizing Big Data, and still in this sense that question is easily debatable, yet after reviewing this article by Gordon and Spillecke, it was quite apparent that Big Data has shown quite the impact over the years. So, here comes the stats to back up how effective Big Data has been. According to Gordon and Spillecke, companies that have used and are using Big Data are showing a productivity rate and profitability up to 5-6 percent higher than other companies not using Big Data. Also, it was noted that after surveying over 250 instances over a five year span, a McKinsey analysis reported that companies that used Big Data as their primary marketing and sales decisions improved their marketing return on investment (MROI) by 15-20 percent, which unofficially can increase value up to $150-$200 billion, yes billion with a b, based on global annual marketing spend of an estimated $1 trillion. In further elaboration, Gordon and Spillecke go on to mention what makes this work for companies in three simples facets. number one, using analytics to identify valuable opportunities. number two, start with the consumer decision journey, and lastly, keep it fast and simple. Data is growing at a faster rate than ever in this day in age, in fact, it is growing at a rate as high as 40 percent a year! The importance of using automation to calculate and formulate algorithms to better conduct engagement with consumers has never been of greater value. If you find this blog interesting, and also read the article linked into the blog and find it interesting also, Gordon and Spillecke also wrote an E-book over this subject also. You can find that E-book at this link. As assigned in our Marketing Management course from last week, here is what was taken from the presentation given by Mrs. Leslie. First and foremost, there were many great facets of how a business can promote itself in ways of being more professional and thus in return, will look the same in retrospect to a customer or consumer viewing what is being presented. Now, the first thing that really stuck was fonts used on fliers, websites, business cards, etc. One interesting thing learned about fonts was that there many routine fonts that come available preset on computers, and also in that same instance are not really ideal for use in the professional setting for means creating ads or websites and such in the event of looking cheap and who would want to do business with a company that looks cheap. So, therefore with that in mind, also fonts should not be so fancy that they are unreadable, or too large that its annoyingly presented, and in this event usually is ignored and will lose the attention of the viewer/reader, and also fonts should not be so small that squinting is a must just to read it.
Next, another tidbit taken from the presentation was about color schemes, images used, and so forth. Of course, it should be casted to the masses that the grand scheme of a page should fit the product, service, idea, etc. Doing backgrounds or color schemes that do not appeal to what is being presented can really cloud the imagery/content that is being relayed or portrayed, and once again can cause one to ignore the whole setting in general. This is not good for a company or business trying to reach new customers. One reviewing what should be used in an ad or website, the idea should be about what is being presented in the message to the recipient and all factors going into the message should represent such. Lastly, another interesting nugget of information gathered from the presentation was the legalities of using copyrighted fonts or images. In this sense, it is quite easy for one making a simple website or flier to want to go roaming through Google in search of a good image, but in the same essence this could lead to big trouble if it is one that has been licensed by a company, business, or individual. So, with that being said, do yourself a favor and search for images or fonts on websites that have been given out freely to the public and there are a few sites such as creativecommons.com, teamtreehouse.com, and or ink.com. Once again, an article from Harvard Business Review caught the eye as it pertained to marketing and its relation to the fast growing phenomenon of "Big Data." In the article written by Mr. David Spitz, it is emphasized how much of a concern or influence it is for all marketers of all industries to use such new tools as, "Big Data." Spitz makes the reference to how marketers in food industries are not in such need of such tools. As Spitz goes on to explain that food labels are a good indicator of all nutrition facts such as calories, fat, sugar, etc. that people need for viewing, but these labels do not fully develop the whole picture for consumers. Such as if the food is bad, healthy, fattening, and so on and so forth. Spitz mentions how "Big Data," is being used in this industry, yet its really not showing a great influence or effect on how the consumer is perceiving the product. As the article moves forward, Spitz makes an awfully good comparison on the relation of "Big Data," in various industries. Such as in trucking companies, and how greatly affected this industry is due to "Big Data," due to the fact that the extensive info and data better helps the drivers in finding better and more efficient routes to their destinations. After reading the article, it was both very interesting and also left some questions unto which fields or industries "Big Data," is bet fit for.
After reviewing an article in the Harvard Business Review by Bill Lee called, "Marketing Is Dead." There was a compelled need to share what thoughts pertaining to the good tidbits found in the article. The first line of the article says, "Traditional Marketing-- including advertising, public relations, branding and corporate communications--is dead. The evidence is clear." Next, Lee goes on to give examples of the results of 2011 study of 600 CEOs and decision makers by the London-based Fournaise Marketing Group, 73% said CMOs lack business credibility and ability to generate increased business, and 72% are tired of being asked to provide money for generated increase of business, and also 77% have had it with all the talk about brand equity that can't be linked to actual firm equity. Lee goes on later in the article to describe how meaningless it is for traditional marketing in the emphasis of looking at it from a buyer's point of view. All in all, Lee is providing the evidence into why social media marketing has evolved as the number one new and modernized marketing tool. In three instances it shows, SMM restores community marketing with also hints of word of mouth traditionally, SMM allows a business to find it's customer influencers, and also SMM gets customer advocates involved in solutions provided. It can be agreed that most of traditional marketing is dead, but in the same essence, there are many forms that still work such as word of mouth, and some advertising, at least in my opinion.
After reviewing all of the forms of social media and how they are used in all kinds of business settings in class, including marketing, it occurred that I wanted to know more about the history of how Twitter came about. So, here is a good article written about the making.
Jack Dorsey (@Jack), Evan Williams (@Ev) and Biz Stone (@Biz) had big plans for Twitter but they likely had no idea how popular it would truly become. When they first created the site, they were just looking for a way to send text messages on their cell phones and a way to reinvent a somewhat dying company.On March 21, 2006, @Jack sent the first tweet: “just setting up my twttr.” It would be the beginning of a revolution. Now people from all over the world and many different fields and professions are saying it all in 140 characters or less. Dom Sagolla (@Dom), in tweet 38, typed these prescient words: “Oh, this is going to be addictive.” And addictive is certainly a good word for it… So how did Twitter get its name? Supposedly, the name was inspired by the photo-sharing site, Flickr, and other considerations were FriendStalker and Dodgeball. The definition of twitter is “a short burst of inconsequential information” and “a series of chirps from birds”. The name was fitting and so the new platform became Twitter. Soon the “chirps” of many twitterers would be heard/seen throughout the Twitterverse as the microblogging platform caught on with Internet users. It would still be a couple of years before it was fully mainstream but it didn’t take this new site long to gain fame. Why 140 characters only? The limit was set because 160 characters was the SMS carrier limit and they wanted to leave room for the username. Twitter is much more than just your friends telling you about their day. It has changed the media, politics and business. Many will report they hear their news first on Twitter- stories of natural disasters, sports scores, the death of a celebrity and more are shared first on Twitter. Social media and microblogging site Twitter has changed political communication profoundly. In the past, political news and commentary was only reported by a select group of those “in the know”. But today, we see both politicians and the Average Joe on Twitter sharing their political banter and opinions. It is a new era of citizen journalists and we see people speaking up and speaking out about the things that are important to them. Twitter has also had an impact on business as brands find a new way to reach their fans where they are already- in social media and on their smartphones. Twitter has become a tool that businesses large and small can use to reach their target market, provide customer service, share their unique content and more. It’s also become a way for everyday people to keep in touch with their favorite celebrities and a tool for the celebrities to stay in contact with their fans. For my second blog, an article regarding the "new' shoe in the New York Times caught some positive interest. What makes this new fashion and revolution of shoes very interesting is the fact that these products are not made with canvas or leather, but a light-weight, water-resistant, and also sturdy and breathable material called tyvek. The innovation of the shoe was designed by a man named Steve Weinreb, who started a company by the name of Civic Duty. Founded in 2009, Weinreb started using the material tyvek, which interestingly enough is also a very universal material. Tyvek, created by DuPont in 1955, has many uses that stray from labels and book jackets, to insulation such as roof underlayment and even hazmat suits. Now, designers are making uses of tyvek for hand bags, and other accessories along with fashion shoes. Civic Duty's main claim for the "new" shoe is that these new products are easy on the environment and easy for consumers who do not approve of products made from animal products. Also, another interesting facet of the "new" shoe is that when the shoes are done with use by the consumer, each pair can be sent back to Civic Duty where the company recycles the products and turns the recycled product into other creations of with tyvek such as park benches or picnic tables. This product is a great new innovation and will be interesting to see how the "new" shoe evolves in the future! Had the pleasure of reading a very interesting new book over the past two weeks called UnMarketing: Stop Marketing. Start Engaging, by Mr. Scott Stratten. After writing the book review due for my Marketing Management course, only felt compelled to also write about the book in my first ever blog post! So, with that said, let's discuss a little of what was presented by Mr. Stratten in his very informational book. First, what really grabbed the attention as a reader was Mr. Stratten's way of writing, and what is meant by that is that he did not just throw out a list advantageous methods with short-detail analysis and nothing more. Mr. Stratten employs his own personal personality and wit when describing the content in his book. This is also somewhat into correlation with the section of the book on transparency and authenticity, due to the fact that this book was very authentic in it's content. Also, instead of just complacent factoids spit out in a fury, Mr. Stratten did indeed give factual information about new tools and methods of new age marketing, well unmarketing, but did also in using actual real-life experiences of he, or other businesses/colleagues, to enhance the understanding of the relation of the content relative to the subject. So, with that being said, if there are any marketing and or business people in general that need a boost into the new error of marketing...excuse me, unmarketing, then grabbing this book for the reading pleasure is highly recommended and a must!
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