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online marketing strategy

Archive for the tag “Marketing and Advertising”

Why all “Clicks” are not created Equal…

 

Though we all say and by now have accepted the fact that all men are created equal in god’s eye, but sadly all clicks are not equal in from business’ eye. Though we all are very keen on knowing metrics like CPC(Cost per Click), CTR(Click through Rate),  Clicks on Youtube videos, Clicks on our download catalog buttons and clicks on even the facebook Like button!

But the fact is all these clicks are different!

If you have heard of the 80:20 rule of Operations i.e 80% of the business comes from 20% of the products and the rest 20% comes from the remaining 80% of the products, this same principle applies to Clicks as well!! Quite a similarity between two such poles-apart domains of Web Analytics and Operations!

I have segmented these clicks into 3 subgroups:

  • Serious Clicks: These are your most important clicks, clicks which ultimately lead to sales either directly or indirectly. I believe these types of clicks represent not more 20% of the total clicks. A general characteristic of these clicks or rather visitors is that they show higher levels of engagement. For e.g suppose you have a FB Page and post a photo declaring 20% sale and get around 100 LIKEs  and 20 comments on it, this obviously does not mean all these 100 people are going to buy something from the sale. Out of the 100 fans who have liked the photo, you can expect the 20 people who actually took the effort of commenting on the pic and thereby showed higher levels of engagement to actually go to your website and buy something. And you will notice that out of the total no. of buyers, these visitors will account for almost 80% of them.
Italiano: versione ombreggiata e ingrandita de...

 (Photo credit: Wikipedia)

 

  • Just-Browsing Clicks: These form the bulk of the clicks, i.e around 60% of the clicks, these are from your average joe  who is just there on the internet browsing through stuff and clicks on things which catch his eye. He is not there to buy something but just spending a lazy afternoon on the net. These clicks show low levels of engagement and low time-on-site. There is a huge opportunity here, with more attractive schemes and promotions it is possible to tap into this huge mass and actually get some converts!

 

  • Accidental Clicks: These are clicks which are like teenage pregnancy, simply an accident. You can identify these clicks with the really low-time-on-site attribute which they are mostly bound to show. These are basically a waste and account for almost 20% of the total clicks.

 

The Social Model- A framework for a successful social media campaign!

English: Infographic on how Social Media are b...

English: Infographic on how Social Media are being used, and how everything is changed by them. (Photo credit: Wikipedia)

Hey guys, i was just reading this story about a guy called Abhimanyu a warrior who got killed inside a seven-tier spiral formation of the opponent because he could only enter it and didnt know how to exit!!

(Refer to the holy book of mahabharatha for more info)

Perfect example of the saying “Half-knowledge is more dangerous than ignorance”! 😛

Well i feel social media campaigns which many of the companies are now starting out with are quite similar to this, its like they know to enter but then they get lost in the maze and ultimately get killed, killed as in the campaign fails and the marketing manager gets the pink slip! 😛

We all see numerous examples of campaign failures, companies set up facebook pages and twitter accounts but both are empty, customer’s questions on fb pages are unanswered, contests are conducted but prizes are not delivered, etc. All this leads to a severe backlash in the virtual space and ultimately effects your brand big time!

The social media space is like the spiral itself , below i will show how:

Layer 1: We enter the social media space, set up a FB page, twitter account, pintrest, blogs, youtube vids, rss feed, blah ,blah! you get the drift right…

Layer 2: We use analytics and measure your campagin on the no. of likes, comments, time spent, visitors, fans, subscribers, mentions,etc and all the jazzy reports we see and get impressed!

Layer 3: Start using social media management tools to integrate the campaign and manage it from a single source! How COOOL! 😛

Layer 4: We start wondering about the ROI of the campaign and its effectiveness! The company sales are declining but the FB likes are growing! omg! what should i do! how is it possible!

This is the point where we have entered the inner most circle of the spiral, are totally confused and no doubt we will end up getting killed!

So how do we get out of the mess??? We know how to enter but not to exit, just like Abhimanyu.

A simple way of avoid all this hassle is to follow what I have christened “The Social Model”. In this model you simply answer the following 3 basic questions before even stepping foot on the social media landscape. Its a very effective way to succed in this confusing land i feel!

Question 1: Do i really need to enter social media?

Question 2: Why do i need a social media campaign? Increase sales/branding/customers/what???!!

Question 3:On what parameters will i judge the success of the campaign? what metrics am i going to use? what are my KPIs?

By asking these three questions what you are doing is laying a clear path of what your company is expecting out of the campaign and how it will go about it and what are the judging parameters. This deliver a clarity in the system which till now was quite haphazard and hazzy to a lot of people.

The first question is related to your overall corporate strategy, the second one is related to your marketing strategy and the third is to define the holy grail ROI!!

Hope it helps! 🙂

Branding Is Like Writing A Story!!!

English: Spade Brand

English: Spade Brand (Photo credit: Wikipedia)

Branding is perceived to be one of the most exciting and numero-uno field in the whole of marketing. Kotler defines a brand as ‘a name, term, sign symbol or a combination of these, that identifies the maker or seller of the product’ . Thus that makes branding the process of giving the product a name, term, etc to make the maker or seller identifiable. Quite simple aint it? Lol, we all know how “simple” it is.

The first instance of branding was “cattle-branding”..basically stamping the cattle with logos to help identify your cattle! lol quite a crude origin for something so sophisticated 😛

According to me branding is like writing a gripping story for your “targetted” audience. The story should resonate with the audience, it should stand out in the crowd, it should be interesting, it should be a story someone would recommend someone else to read or rather narrate it to someone and feel proud of the fact that he or she knows the story. Dont agree with me?? Read below and i will show how the two are uncanningly so similar.

The Process:

Step 1: Deciding what to write(comedy, romance, thriller, etc). “Product/service”

Step 2: Deciding who you are writing for(kids, teens, adults, etc). “Segementation , Targetting”. One size fits all?? naah…you need to decide whom it fits the best.

Step 3: Giving the story a name. “Brand name/logo “. Has to be as catchy as possible, you dont judge a book by its cover but you surely pick it up and flip through because you found the name attracted your attention.

Step 4: Writing the preface or introduction. “Increasing brand awareness”. This is like the intial trailer after the teaser ads. Giving your audience a glimpe of your story/product. At this point the customer will decide if  your story/product is worth his time and money.

Step 5: Writing the body. “Building Brand Image”. You let him soak in the full experience your brand has to offer. The reader/customer forms an opinion/image about your story/product. He will use this opinion to describe you. Good or bad. Really exciting or plain jane. Innovative or same old shit.

Step 6: The End. “Building Brand Equity”. Once he has finished reading the whole story and based on whether he liked it or not he will decide whether to read your next story or not. Your “equity” is decided. Worth a cent or a million?

So in short, you try and make sure that the title is attractive to ensure he gives it a try, you try and write a good story so that he has a good experience and just cant wait to get to your next story. This lets you sell your next story at a higher price.

If i were to explain this para in branding jargon it would be : Increasing “brand awareness” to attract customers, providing a good ” experience”  so that you have a strong “equity” which helps you form a distinguished ” image” which leads to you charge that extra premium for your product/service.

After all companies aint stupid to spend so much money on branding if it aint adding to their bank balance. 😛

By the way this if you have noticed this answers another very important, why are brands costlier than other products??? I assume the above explanation answers it.

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