Most, if not all, local small businesses in Northwest Arkansas that are struggling or have failed can be attributed to their lack of marketing and advertising efforts, which becomes evident once you delve into the complete truth about them.
I know of a business owner in Northwest Arkansas who says he will shut it down any day due to a lack of business, yet who still will not make even a single free Facebook or Instagram post. He also doesn’t do any internet, radio, billboard or television advertising, nor does he use hangtags for doors, send out direct mail, do email blasts, use SEO or sponsor a Little League baseball team. There is just no marketing whatsoever.
I don’t think this situation is that unusual for many small businesses. Why is this the case? There are several reasons, including:
The owners of these small businesses think they can’t afford it. They see marketing and advertising as an overhead expense, like rent or insurance, and if they can avoid spending anything there, it is money they can put in their pockets and take home to their families.
They don’t believe marketing and advertising work. My experience is that if you spend “X” on marketing and advertising, you will get a certain number of sales or dollar amount of sales from it. So spend X, and get X times 10 or X times 20. What will that kind of volume increase do in terms of business viability and profitability? Think about your own business. But for this relationship to work, it takes consistent activity and spending. I have often heard, “We tried advertising, and it didn’t work.” You can’t do it once or twice and expect that to produce results. It may not.
These small business owners are hung up on the idea that “word-of-mouth is the best advertising,” so they do nothing. They forget that to get word-of-mouth, customers have to buy from the business or use it in the first place. Without marketing and advertising, you will never get the word-of-mouth flywheel going.
They don’t know how to market. Most small business owners are good at something — they are good cooks, carpenters, sewing, or getting people to exercise correctly. That’s why they went into business in the first place. But what they don’t know anything about is marketing and advertising. So instead of going outside their business to find help, they give up. There are so many marketing companies and advertising sources that can help a small business, not to mention marketing students who would love the chance to work with a real business here in NWA, that there is no excuse for not being able to get help.
Let me conclude by saying that I am not someone who’s just done a lot of reading about this stuff and is now opining about it. In my businesses, I always invested in marketing. That’s how two of my companies got on the Inc. 500/5000 list — one of them three times. And today, the new and existing businesses I am involved with heavily invest in marketing and advertising and have a revenue growth curve that reflects that.
Contrary to what your CPA/tax advisor may tell you, a small business can be worth far more than what you can extract annually. The value of the business is directly related to the revenue growth rate, not to mention that a growing business tends to be more profitable than a stable (i.e., stagnant) business.
So now is the time for small business owners to stop handwringing and start investing in a consistent marketing and advertising program. Do it now before it’s too late.
([email protected]) Mark Zweig is the founder of two Fayetteville-based Inc. 500/5000 companies. He is also entrepreneur-in-residence in the Sam M. Walton College of Business at the University of Arkansas and author of the award-winning book, “Confessions of an Entrepreneur.” The opinions expressed are those of the author.
Cross-media measurement continued to dominate industry chatter in Cannes – but are we one step closer to solving the measurement puzzle? Nielsen’s Deirdre Thomas gives us the lowdown.
The advertising industry has been gunning for better attribution and cross-media measurement solutions. With consumers now moving fluidly across devices, platforms and media, it’s been a long time coming for measurement to catch up – but that change is hard.
“It’s not just the measurement and the metrics that have to change – it’s everything from the way companies are organized to the way tools are built, processes are run, and cultures,” says Deirdre Thomas, chief product officer at Nielsen.
The way that the ecosystem has developed historically has created silos where digital may be in one place, television in another, and social in another place. But if marketers want to enable cross platform measurement, all those things must come together.
“That’s really what marketers want – to reach their audience fluidly across all the places they consume media, and the dollars have to flow that way,” says Thomas. “So really, to bring the measurement that way, all the other pieces have to change as well, and it’s a really hard journey.”
To help marketers piece measurement together, Thomas offers two pieces of advice: “Build for what you want to get and organize for what you want to achieve. Organizing teams, processes and buys in a way that actually reflects cross-platform is really going to help push us there.”
The next is a bit more tactical: enable the identification of the digital and linear pieces of a campaign. “That notion does not necessarily exist and it’s certainly not scaled or identical across the ecosystem,” explains Thomas. “As an industry, we need to lean in and make it possible to understand the campaign in a cross-media way so that we’re not trying to piece things together. We need to have an identifier of some form to enable that scale.”
So where does measurement go next? Nielsen announced a tie up with EDO in Cannes to integrate its Nielsen One audience measurement data with EDO’s outcomes measurement, which will enable mutual clients, starting with Disney, Warner Bros Discovery and Mediahub, to better plan and measure the impact of campaigns.
“It’s really the next chapter for Nielsen where we want our measurement to flow out into the ecosystem to underpin all kinds of innovation and measurement, and really create interoperability for the ecosystem,” explains Thomas.
You’re in the right place! In this guide we’re going to demystify the concept of brand loyalty, bringing it down from abstract theory to practical, actionable steps.
Whether you’re running a start-up or an established business, these techniques will show you exactly how to cultivate that sought-after loyalty.
Think of it like planting a garden — with the right care and attention, you can reap the benefits of a dedicated customer base for years to come.
So, ready to sow the seeds of loyalty?
Let’s start planting!
What is Brand Loyalty?
Have you ever tried to dissuade a die-hard Apple fan from buying their latest iPhone?
Or tried to convince a fervent Harley-Davidson fan to trade in their bike for any other brand?
If so, you know that it’s a nearly impossible feat.
That’s brand loyalty in action: It’s a force that drives customers to repeatedly choose a specific brand, eclipsing alternatives even at higher costs or inconveniences.
But wait, isn’t that just customer loyalty?
Not quite. The line separating these two is more distinct than you think.
While customer loyalty focuses on transactional interactions (think frequent flier miles or buy one get one free deals), brand loyalty revolves around emotional connections.
In fact, brand loyalty is about creating that emotional bond.
It’s about a brand resonating with its customers on a personal level.
It’s about a shared set of values.
It’s not just about rewarding repeat purchases; it’s about kindling a deep-rooted affinity for your brand.
So why should anyone bother about brand loyalty?
It’s simple. Loyal customers may be rarer than casual buyers. But they spend much more money, advocate for your brand, and are willing to stick with you through thick and thin.
In other words, having enough customers with brand loyalty is a sure-fire way to drive sustainable business growth.
The Essential Types of Brand Loyalty You Should Know
Brand loyalty comes in different levels of intensity. Here’s a little about each type, and what you can do as a marketer to persuade them.
The Hard-Core Loyalists
Let’s start with the hard-core loyalists. These are the customers who have eyes only for your brand.
Come rain or shine, these loyalists are unwavering in their commitment.
They won’t switch brands for anything in the world, and they form the core of your brand’s loyal customer base.
Consider Apple enthusiasts: They’ll line up overnight for a new product launch, wear Apple merchandise, and defend the brand in any debate.
This fervour didn’t occur by accident.
Apple has consistently delivered innovative, high-quality products and backed them with top-notch customer service and an engaging brand narrative. As a result, their customers are die-hard loyalists.
The key takeaway here is consistency.
When you deliver consistently on your brand promise, customers develop trust in your brand, evolving into hard-core loyalists.
Remember, these customers are your brand’s best ambassadors. They will not only stick around but also bring in new customers through positive word-of-mouth.
The Split Customers
Next, let’s talk about split customers.
These customers have a few favourite brands and switch between them. They enjoy variety and are open to trying out new products if they match their expectations.
A perfect example of split customers would be those who shop for clothes.
They might love the trendy clothing line from Zara, the timeless classics from H&M, and the sustainable offerings from Everlane. Depending on the occasion, their mood, or the latest collections, they alternate between these brands.
To win over split customers, your brand needs to offer something unique and valuable that stands out from competitors.
Regular product innovations, seasonal collections, or exclusive benefits can entice these customers to choose your brand more often.
The Shifting Loyalists
Finally, we have the shifting loyalists, the explorers.
They’re always on the hunt for better products, superior service, or a more appealing brand story.
They’re not disloyal; but they simply value quality and are willing to change loyalties if another brand meets their needs better.
For instance, a shifting loyalist might visit a popular coffee chain one week, then switch to a local artisanal café that offers a more personal, unique, and high-quality coffee experience next time.
Winning over shifting loyalists is challenging but not impossible.
Strive for continuous improvement and be responsive to customer feedback. Show these customers that you’re not complacent, and you’re committed to offering the best.
They’ll appreciate your efforts and may even pause their quest to stick around!
Remember, understanding these different types of brand loyalists is the first step to developing a successful brand loyalty strategy.
By recognizing what drives each type, you can tailor your approach to appeal to each group and transform more customers into loyal fans.
3 Key Brand Loyalty Stages to Consider
Now that you know the different types of customer loyalty, how do you build them up to become the most loyal and reliable clients and customers?
Stage 1: Brand Recognition
Brand recognition is the ground level, the foundation of our skyscraper. It’s what allows customers to identify your brand among the sea of options.
Think about McDonald’s golden arches or the Nike swoosh — the moment you see them, you know the brand.
This recognition is critical because if they don’t know you exist, how can they buy products from you in the first place?
Creating a unique and memorable brand identity, including your logo, colours, slogan, and even your tone of voice, is a great place to start when attempting to enhancing brand recognition.
This isn’t just about being known; it’s about being known for something specific, something that resonates with your target audience.
Stage 2: Brand Preference
Next, we move up to where the magic starts to happen.
Here, your brand isn’t just known; it’s favoured over others.
You’ve managed to strike a chord with your audience, and they now appreciate your unique selling proposition. They consider you not just as an option, but as a viable, attractive choice.
Achieving brand preference involves delivering on your promises, offering a superior product or service, and ensuring customer satisfaction.
It’s also crucial to communicate what makes your brand different and why customers should choose you over others. Give them a good reason for a desired action, and more likely than not, they’ll take the action.
At this stage, your brand isn’t just a preferred choice; it’s the only choice.
Your customers are so connected to your brand that they’ll walk an extra mile, literally and metaphorically, to stick with you. They’ll ignore cheaper options, overlook minor flaws, and stand as a bulwark against competitive forces.
Reaching the stage of brand insistence requires exceptional customer experiences, consistently delivered over time.
It’s about building emotional connections, exceeding customer expectations, and rewarding loyalty.
It’s the ultimate stage of customer loyalty and the most rewarding for your business.
Innovative Techniques (& Tips) to Foster Brand Loyalty
To foster brand loyalty, you need to go beyond the basics.
Here are a collection of powerful and practical techniques that can help build a steadfast relationship between your brand and your customers…
Craft a Powerful Brand Story: Your brand story should be compelling, relatable, and inspiring. This narrative will define who you are, what you do, and why you do it. Think of TOMS Shoes, whose mission of ‘one for one’ resonates deeply with their audience.
Offer Consistently Exceptional Customer Experience: Go the extra mile to exceed customer expectations at every touchpoint. This involves providing high-quality products, efficient service, and prompt support.
Harness the Power of Social Media: Social media platforms allow you to engage directly with your customers. Regularly posting relevant content and interacting with your followers can create a sense of community.
Build a Vibrant Community: Foster a sense of belonging among your customers. You could create an online forum, host events, or even start a brand-centric podcast.
Leverage the Principle of Reciprocity: This psychological principle states that people are more likely to give something when they receive something. So, reward your customers’ loyalty with exclusive perks, discounts, or freebies, and they may reciprocate your goodwill!
Implement Personalized Marketing: Tailor your marketing strategies to cater to individual customer preferences. With advancements in AI, personalized email marketing, and product recommendations are now easier than ever.
Institute a Robust Referral Program: Encourage customers to become brand ambassadors. Offer them incentives like discounts or exclusive products when they successfully refer others to your brand.
Gamify the Customer Experience: Games are engaging and addictive. Incorporate elements of games, like points, badges, or leader boards, into your customer interactions to make them fun and engaging.
Take Advantage of Scarcity: Limited-time offers or limited-quantity products can create a sense of urgency, encouraging customers to make a purchase.
Build Collaborations with Complementary Brands: This can add value to your customers by offering them more variety and opens new channels for customer acquisition. An example is GoPro and Red Bull’s collaboration on various events and projects.
Encourage Customer Feedback: Actively seek customer feedback and make visible changes based on their suggestions. This shows that you value their opinions.
Provide a Seamless Omnichannel Experience: Ensure that your customer experience is consistent across all channels — in-store, online, on social media, over the phone, etc.
Establish a Loyalty Program: Rewards programs, like Starbucks’ Star Program, can encourage repeat purchases and increase customer retention.
Utilize Social Proof: Testimonials, reviews, and user-generated content can significantly influence purchasing decisions by building trust.
Create Exclusive Content: Develop valuable content that is exclusive to your loyal customers. This could be in-depth guides, webinars, or behind-the-scenes videos, giving your audience a reason to stay engaged.
Each of these techniques forms a piece of the loyalty puzzle.
When implemented strategically and consistently, they can work together to create an unshakeable bond between your brand and your customers.
It’s all about creating value, building relationships, and keeping the lines of communication open. The better you treat your customers, the more likely they are to return the favour!
Achieve Unshakeable Brand Loyalty
You’ve been through the trenches, working tirelessly to get your brand up there. It’s no small feat, and this journey towards brand loyalty is a marathon, not a sprint.
But with the tips and strategies from this article in your toolkit, you’ll be miles ahead.
Keep nurturing those customer relationships, and before you know it, you’ll have a legion of customers singing your brand’s praises.
Now, go make some loyal fans!
By Sarah Cha
Sarah Cha is an avid writer, reader, and lifelong learner who loves making magic behind-the-scenes at Smart Blogger. When she’s not wrangling words onto a screen or page, you can find her strumming a guitar, tickling a canvas, or playing fetch with her favorite four-footed friend!
There’s never been a better time to invest time and energy in your own website – especially if you’re a creative freelancer, small agency or designer-maker.
As the fierce battle for social supremacy between Musk and Zuck rages on, it’s become all-too-clear in recent months that the social channels we’ve dedicated so much of our promotional bandwidth to can become obsolete just as soon as something shiny and new comes along.
Social channels come and go – but your business website is here to stay. And it deserves your full attention.
The journey to hooking your next client begins with making the best possible introduction, more often than not online these days. So here are five key elements that all successful ‘About’ pages have in common. It’s time to tell your story the right way.
1. Who are you?
Much like every superhero comic ever written, all businesses and creative endeavours begin with an origin story. A starting point that makes them unique. A reason for existing. What’s yours?
In the same way that a great PR pitch to a journalist looks to hook interest early on, your ‘About’ page should kick off with why you do what you do.
Make it personal. What led to you founding the business? Why are you so passionate about this creative area? How are you solving a problem that needs solving? If your ‘About’ page achieves nothing else, it should quickly convey your roots while also making your offering relevant to the here and now.
2. Be bold and confident
Brits, especially, aren’t always great at patting ourselves on the back and shouting about our accomplishments. Sure, that’s a respectable attribute in daily life. But when it comes to business, it pays to be bold and confident.
Your ‘About’ page is the perfect place to shout, loudly and proudly, about your experience in the industry: awards you’ve won, testimonials you’ve received, high-profile clients you’ve worked with and campaigns you’ve delivered.
If you’ve achieved big results in the past, use your ‘About’ page to really showcase what sets you apart from the rest. After all, if you can’t be a cheerleader for yourself, how can you expect anyone else to believe in you?
3. Get social
With your ‘About’ page serving as a digital introduction to your creative offering, don’t miss the crucial chance to take this fledgling relationship with your audience further by linking to your social channels on your ‘About’ page.
Whether it’s LinkedIn, Twitter, Instagram, TikTok, YouTube, Facebook or –yes – even Threads, make it super-easy for anyone with a passing interest in what you do to connect with you on social media, truly learn who you are, and begin that all-important first conversation with you.
4. SEO, SEO, SEO
There’s no point crafting beautiful prose for your ‘About’ page if nobody will read it – so always take the time to maximise your content with an SEO-first approach.
Much like with the rest of your website, carefully consider the keywords you want to be linked to and smoothly weave these into your copy.
Optimise your meta descriptions, header tags and images. Use short paragraphs and SEO-friendly headings to keep the page punchy. Link to existing content on your site and other trusted external sources to further boost your search rankings. Paying attention to these small details can make a huge, huge difference.
5. Be you
There’s only one you in this world – and that’s a very good thing. Your ‘About’ page should celebrate your unique you-ness, serving as an authentic window into who you are, both in the workplace and away from it.
How much of your ‘true’ self you want to bring to your website is a personal judgement call – but if the pandemic years proved anything, it’s that we all crave real human connection and that genuine personalities sell. It’s a hugely overused adage, but it’s trotted out time and again for good reason: people really do buy from people.
Whether it’s sharing your favourite movie, talking about your slightly unusual pastime, including photos of your gorgeous office dog (which, let’s face it, is guaranteed to improve dwell time) or quoting your philosophy on a happy life, visitors to your ‘About’ page should leave with a much clearer idea of who you are and what gets your creative juices flowing – and be itching to work with you.
Human resources and marketing are the two areas where the majority of companies spend the most of their money. The proactive strategy taken by VCs entails close collaboration with their portfolio firms to thoughtfully plan and get ready for these critical areas well in advance, ensuring they are well-equipped to handle possible obstacles.
Highs and lows are unavoidable since markets are always changing. To assist the company’s founders in overcoming any unique difficulties that may arise, the investors keep in close contact with them. The founders also continue to engage with and seek assistance from their investors’ extensive networks, which span numerous nations and industries.
Based on a structure they hope will keep businesses honest throughout all phases of the start-up lifecycle and help them through challenging times by prioritising important areas of emphasis, VCs have continued to work alongside their portfolio in light of recent events over the previous 12 months.
Here are a few steps that venture capitalists have taken to control the financial parameters, including burn and runaway, of the firms in their portfolio.
Closely works with founders
3one4 Capital works with its founders to plan and actively manage financial metrics including burn and runway. According to Nruthya Madappa, Partner, 3one4 Capital, “These are critical aspects we help them monitor and gain control over on an ongoing basis regardless of the macro scenario.”
The VC firm drives continuous, collaborative financial planning across its portfolio, to explore and capture cost optimisation and business model efficiencies to help founders make their companies more resilient.
Encourages concentrating on core businesses
Kae Capital asks that its portfolio companies aggressively concentrate on their key competencies and start reducing costs in non-core competencies where there is no significant PMF (Product Market Fit). In some circumstances, “we suggest that they search for bridge rounds as well,” according to Kae Capital Partner Gaurav Chaturvedi.
Vishesh Rajaram, Managing Partner of Speciale Invest, continued, “Startups occasionally might have to let go of their employees as well. We advise founders to spend all of their remaining funds only on endeavours that advance technology and company, which will lower risk, boost chances of success, and help them raise additional money.”
Run a special program and connect with the right partners
Inflection Point Ventures has set up unique initiatives like a ‘Lets Grow Start-up’ program for deep engagement with 4-5 identified experts from various domains who work closely with its portfolio companies advising on strategy and have a regular check on burn and runway.
Apart from the cash conservation and management exercise on a case-to-case basis, “we do assist companies in connecting to right partners (like other VCs, RBF companies) for intermediate financing arrangements,” stated Ankur Mittal, Co founder, Inflection Point Ventures.
Look for a M&A target
During these times, in addition to locating funding sources, cost reduction and—most importantly—standing by the founders when things become rough could mean the difference between success and failure. “Our portfolio management team gets involved when it becomes crucial for the start-up to hunt for an M&A target to sustain or increase shareholder value. Several of our companies, including Supr Daily, Belita, and AHA Taxis, have been acquired throughout the years, giving investors an exit,” as per Lead Angels Founder and CEO Sushanto Mitra.
Recommend being creative, freezing new experiments, & prioritising profitability
According to BEENEXT, it keeps in close contact with its founders to assist them in overcoming any unique difficulties that may emerge. “For instance, we advise being creative to lessen the burn if the firm has less than 18 months of runway and is still attempting to identify its Product Market Fit. Prepare for a hard reset with just the core staff and be ready for the worst-case scenario,” advised Chinmaya Saxena, Partner – Community Strategy, BEENEXT.
But if the start-up has already achieved Product Market Fit and has a longer runway than 18 months, the priority should be finding new funding as quickly as possible. “We advise doubling down on the primary product’s monetisation while halting any new experiments and hires. Additionally, it is essential for these start-ups to provide a clear route to profitability, perhaps by securing longer revenue contracts or subscriptions,” Sexena said.
On the other hand, if start-ups have less than 18 months of runway but have not found their Product Market Fit, efforts need to be on low-cost Product Market Fit discovery by reducing burn and preserving runway for as long as possible. “If the start-up has achieved Product Market Fit and has more than 18 months of runway, then they need to prioritize profitability over growth by doubling down on channels that are working well and cutting down on low ROI experiments,” emphasised Saxena.
Sujata is an engineering graduate and has done her Post Graduation in Human Resource Management. She has a deep interest in startups, venture capitalists & technology. She can be reached at [email protected].
She has even gone viral as a fashion trend known as Barbiecore, exploding across social media with people embracing vibrant pink hues and hyper feminine aesthetics. A Barbie world is upon us.
Although some have criticised this saturation strategy, it is a very deliberate marketing ploy to revitalise and redefine a brand with a contested position and history.
As well as attracting adults who grew up with Barbie and are curious to see what’s changed, the reinvention is drawing in those younger fans swept up by the tsunami of marketing and merchandise.
Despite being one of the most trusted brands with a value of approximately $US700 million, Barbie has long attracted feminist criticism for fuelling outdated and problematic “plastic fantastic” sexist stereotypes and expectations.
The Barbie backlash
Only a few years back, Barbie was a brand in crisis. Sales plummeted across 2011 to 2015 against the cultural backdrop of a rise in body positivity and backlash against a doll that represented narrow ideals and an impossible beauty standard.
After all, at life-size Barbie represents a body shape held by less than 1 in 100,000 real people. In fact, she is so anatomically impossible that, if she were real, she would be unable to lift her head, store a full liver or intestines, or menstruate.
The backlash has also been in response to growing concerns about how she influences child development, particularly how and what children learn about gender. Barbie has been identified as a risk factor for thin-ideal internalisation and body dissatisfaction for young girls, encouraging motivation for a thinner shape that damages body image and self esteem.
And despite the multiple careers Barbie has held over the decades, research highlights that girls who play with Barbie believe they have fewer career options than boys. This speaks to the power of toys to reinforce gender stereotypes, roles and expectations, and how Barbie has imported narrow ideals of femininity, girlhood and womanhood into young girls’ lives.
Reinventing a long-established icon
In response to this backlash, Mattel launched a new range of Barbies in 2016 that were promoted as diverse, representing different body shapes, sizes, hair types and skin tones. This was not without criticism, with “curvy” Barbie still considered thin and dolls named in ways that drew attention foremost to their bodies.
Barbie merchandise on sale at a clothing store in Ireland.Shutterstock
From a white, well-dressed, middle-class, girl-next-door with friends of a similar ilk, Barbie has since been marketed as a symbol of diversity and inclusion. To signify the extent of the transformation, Mattel’s executives gave this project the code name “Project Dawn”.
Mattel – like many other brands joining the “inclusivity revolution” – knew that diversity sells, and they needed to make their brand relevant for contemporary consumers.
Diversity initiatives included a line of female role model dolls, promoted as “introducing girls to remarkable women’s stories to show them you can be anything”.
Barbie was also given a voice in the form of Barbie Vlogs, where she expressed her views on issues including depression and the sorry reflex. A gender neutral collection called “creatable world” was added in 2019 to open up gender expression possibilities when playing with Barbies.
Such efforts were crucial to undoing missteps of the past, such as a “Teen Talk Barbie” that was programmed to say “Math class is tough!”, or the compulsory heterosexuality that Barbie has long advanced.
The latest step in Barbie’s transformation
Barbie the film is simply the next step in an evolution to make brand Barbie inclusive. And with a rumoured film budget of $100 million, the supporting marketing machine provides a critical opportunity to reset the Barbie narrative.
Part of the range of Barbies introduced in 2016 to promote diversity and inclusion.Shutterstock
With Greta Gerwig, acclaimed director of female-led stories such as Little Women and Lady Bird at the helm, and a diverse cast of Barbies of different races, body types, gender identities and sexual preferences, the film and its creators have sought to assure audiences of the film’s feminist leanings.
Addressing the complicated history of Barbie is crucial for audiences who grew up and played with the doll and are grappling with introducing her to the next generation of doll consumers.
Yet, Robbie Brenner, executive producer of Mattel Films, has explicitly stated that Gerwig’s Barbie is “not a feminist movie”. Indeed, the main character still represents a narrow beauty standard – tall, thin, blonde, white – with diverse characters in place to support her narrative.
Which begs the question: are these inclusion initiatives simply emblematic of diversity washing, where the language and symbolism of social justice are hijacked for corporate profit? Or do they represent a genuine effort to redress the chequered history of a brand that promotes poor body image, unrealistic ideals and rampant materialism?
What is clear is that in today’s climate where brands are increasingly rewarded for taking a stand on socio-political issues, brand Barbie’s attempts to reposition as inclusive have paid off: sales are now booming.
Seemingly, Barbie’s famous tagline that “anything is possible” has shown itself to be true.
Feature Image Credit: Ryan Gosling (left) and Margot Robbie who play Ken and Barbie in the “Barbie” movie. Shutterstock
A few years ago, you couldn’t go three sentences at an advertising conference without hearing the word “omnichannel.” The notion of omnichannel marketing went hand-in-hand with digital transformation, and promised to seamlessly integrate the consumer experience across digital and physical environments.
It was the ultimate challenge for the CMO in 2015. But since then, many of us have come to understand that omnichannel marketing is a myth. Seamlessly integrating experiences across environments, it turns out, is not exactly what humans want. What we actually want is context-dependent experiences that are customized based on channel and behaviour. And for those experiences to be personalized, but also make us feel like part of an exclusive community – all while protecting the sanctity of our data.
Enter branded ecosystems
So what’s the next iteration of omnichannel? How do you capture the touchpoints that you have with consumers, but honour that those interactions should look different depending on the moment and the environment?
Today’s best brand marketers are those that thoughtfully orchestrate interactions across an ecosystem (a collection of brand touchpoints) in ways that build sustainable and context-based relationships with audiences. In other words, being intentional about building ecosystems can foster deeper relationships across environments – from mobile devices to in-person events and immersive web experiences.
One of the best environments to create those relationships has always been in real life. The dwell time and actual engagement with in-person events consistently over-delivers compared to other areas of channel marketing and the post-pandemic landscape has shifted attention toward physical touchpoints and experiences.
Capturing this formula and experience and implementing it into bespoke ecosystems is the creative challenge of marketers today. Moreover, owned ecosystems can give advertisers first party data at a time when direct relationships with consumers is more critical than ever.
The new data landscape
When Google introduced paid search, it solidified our ad-supported internet. For a while, advertisers felt like they had hit the Holy Grail – brands had never had access to such rich and actionable data about how consumers behave.
Fast-forward to 2023, and consumers are increasingly aware of the ramifications of an internet that’s powered by ads. From political polarization to mental health crises, it turns out that exploiting our digital behaviour has serious consequences.
This has spurred a call for legislation which has been codified with Europe’s GDPR and California’s CCPA and subsequent CPRA. These pieces of legislation are largely felt to be incomplete, but they signal the beginning of a reckoning with the “surveillance capitalism” structure that’s been the bread and butter for Big Tech.
Even Google responded, vowing to rid Chrome of the third party tracking cookie by next year. This move could turn digital advertising on its head and leave advertisers and publishers scrambling for ways to meaningfully target consumers online. Meanwhile, digital ad practices have made it all the way to the US Supreme Court, with a case about the potential for algorithmic distribution to lead to violence.
In light of heightened sensitivity to data privacy, in addition to emerging technologies like generative AI that threaten to use data in more invasive ways, the major consulting firms point to trust as a key focus area for consumers.
What does this mean for brands? Traditional digital ad targeting is on the decline, and a premium is placed on direct relationships between brand and consumer. Put another way, first party data is the new Holy Grail in the advertising ecosystem and the brands without a first party data strategy are at risk of becoming obsolete.
Experiential media
Advertisers pairing back investments in social media and programmatic advertising are likely to point to brand safety concerns and budget cuts as a reason to moderate display ad spend. As social media content becomes more extreme and polarizing, and targeting becomes less certain, brands forced to rethink their digital ad allocations are looking at where display advertising is most effective in their customer journey.
What they’re learning is that display advertising, at least with respect to conversion and ROI, may be more lucrative in theory. In The Subprime Attention Crisis by Tim Hwang, Hwang paints a picture of an advertising ecosystem built on a house of cards, rife with fraud and falsely attributed ad conversions.
Faced with budget cuts, an uncertain economy and a precarious tech industry and supply chain, advertisers need to identify media buys that are sure to provide a return on investment while authentically engaging with and providing value to real audiences. It turns out, the road to ROI is to own the supply.
Investing in building owned ecosystems is one way to have unmitigated access to data that’s not corrupted by advertising fraud like bots or beholden to the walled gardens of Big Tech. We call this type of media buy “experiential media,” and it’s attracting advertisers for good reason.
Creating an owned infrastructure for meaningful touch points with brand ambassadors has several perks. Ensuring accurate and transparent relationships with consumer data enables a brand to personalize without overstepping privacy bounds. Moreover, owning the media channel eliminates a large percentage of ad spend that’s traditionally spent on fraud at a time when marketing leaders need to be more agile with their approach to brand-building. The media channels that will earn spend focus on advertising that leads directly to conversion and increased lifetime value of the consumer.
Moving fans through the ecosystem
In short, experiential media understands that brand experiences are far more than data points. It captures an understanding of how to build a brand across all landscapes simultaneously while fortifying relationships into increased lifetime value of the consumer through reciprocal exchange of value.
It’s different from omnichannel marketing, in that it activates a customer base through meaningful campaigns, and leverages the power of different channels for different events while capturing data transparently and mindfully to serve and delight members of the ecosystem.
Here’s how it works: brands orchestrate touch points across platforms in the ecosystem, from display advertising and earned media to digital and in-person events. Touch points serve as an entry point into a platform of brand-managed exclusive experiences that enhance relationships and move customers from a transactional piece of data to a complex individual in an enriching and engaging community.
If the pandemic taught us anything, it’s that integration and collaboration is a must and real human relationships matter. Advertisers that are thoughtful about the integration across channels through experiential media spend will be the brand leaders in the new age of advertising.
Mike White has been a leader in the brand experience industry for 25 years. His agency, Lively Worldwide, is leading the charge for the future to be hybrid. The agency was launched in 2017 to champion Live Marketing, which Mike describes as the sweet spot between physical and digital where they create engaging campaigns for brands. Mike has created immersive, interactive, and entertaining experiences for Spotify, Ericsson, Twitter, Virgin, Mazda, and The Guardian, making him one of the leading figures in the world of hybrid activity. Mike is a hybrid and virtual strategist, live marketing leader, speaker, and influencer.
As an industry expert who’s had the privilege of advising hundreds, if not thousands, of B2B CEOs over my career, I often notice recurring misconceptions about marketing. There is a common belief among companies that their unique problems can’t be solved with conventional tactics. Some excuses are all too frequent and they’re simply not true.
It’s important to keep in mind that any business (big or small) today has access to powerful digital strategies, which can really give them the edge. In this article, I want to talk about the most frequent marketing mistakes in more detail so you know how best to utilize your resources for success and achieve the best return on your investment.
Mistake 1: Looking at Marketing as a Cost Centre Rather than a Profit Centre
One common mistake B2B CEOs make is investing in their marketing based on the allocated budget rather than the lifetime value of a customer. While it’s easy to estimate the profit from hiring another sales representative, you can’t estimate immediate ROI by trying a different marketing strategy. You need to monitor progress and tweak it all the time based on the reaction of your audience. Also, what works for your competitors will not necessarily work for you. And what worked for you once might get zero results the next time you do it. In a sense, marketing is a combination of creativity and psychology. That’s why adjusting your efforts to the budget reduces your chances for success. It should be the other way around.
Mistake 2: Treating Your Website as a Brochure with Texts and Images
We’re way past the times when people only visit your website for pretty pictures and location. Your website is a digital storefront of your business. And as your customers explore their options, they research the alternatives from cover to cover. Make no mistake: They will check your website, directories and social media. Based on their findings, they will make their buying decision, and you won’t even know. Remember that by the time your prospects reach out to our sales team, they have already completed most of their buyer’s journey.
Mistake 3: Making Future Strategic Decisions Based on the Failed Attempts
It’s smart to learn from your mistakes. However, when it comes to digital marketing, people often generalize and find faults in the wrong things. Let’s say you tried blogging for a couple of months but only wrote 300-word-long blogs while Google requires 500 to 3,000 words to have a blog ranked for keywords, would you consider blogging a mistake? Or if you started a podcast and gave up after 10 episodes, would you say podcasting doesn’t work? When you implement a strategy and it doesn’t work, make sure you identify the real reason behind the failure before you move on to something else.
Mistake 4: Being Unwilling to Share Your Knowledge With Your Customers
This is a very common concern among our B2B clients and I can understand why. When advised to share their insider information with a wider audience, many B2B CEOs and marketing leaders take it literally. They don’t want to share their insights or business processes for fear that their competitors will use them or that their prospects will solve their problems on their own. While this is a valid concern and you certainly don’t have to reveal trade secrets, we always advise looking at it from a different perspective. Your customers are trying to solve their problems. Will they find advice from you or from your competitors?
Mistake 5: Undervaluing the Brand Equity
Many business leaders underestimate the value of a brand and hardly ever consider it as a measuring rod for why they should invest in digital marketing. However, even if you don’t get enough leads in the process, you’re still building your brand. With a well-established brand name, you can create long-term customer relationships as well as higher profits and ROI over time. Once your brand is really known for something positive, it can stand out in a crowded marketplace and differentiate itself from the competition.
When it comes to B2B digital marketing, some misconceptions can damage your success if not addressed correctly. It is crucial to take a more thoughtful approach, utilizing powerful digital strategies and avoiding common mistakes. With a strategic approach and understanding of the target audience, your company can find success in the digital world.
Feature Image Credit: Getty Images
By Samuel Thimothy
VP at OneIMS.com, an inbound marketing agency, and co-founder of Clickx.io, the digital marketing intelligence platform.
We ask a bumper crop of marketers from The Drum Network why the humble QR code it still enjoying its long renaissance, and where the tech will head next.
Packaging, payment, a gateway to augmented reality worlds, and a star of the organized response to the Covid-19 pandemic: the QR code has emerged as the little technology that could. But, deep down, is it all just a gimmick? Is it living on borrowed time? Or is there more growth on the horizon?
Here, leaders from The Drum Network tell us why that relatively low-fi tech has become quietly indispensable to advertisers despite being almost 30 years old, and what tricks it’s still got up its blocky sleeve.
Alessandro Camaioni, UK strategy director, Momentum Worldwide: “February 2022. The humble QR code, mocked for a decade as a useless gimmick, was rescued by turning into an unlikely metaphor for social distancing, eventually surging as the most popular and talked about ad of Superbowl LVI.
“Was that the peak of QR fever? No. As one of the most democratic forms of smartphone technology, it will only become more ubiquitous in line with universal smartphone adoption.
“QR code payments alone are projected to grow from $8bn (2020) to $35bn (2030).
“Behavioral science can explain why QRs are the perfect marketing tool. Visual, immediate, able to offer a kick of instant gratification and reward our curiosity: QRs cut through the noise in a way no other medium can (until AR contact lenses enter our lives).”
Jim Hare, digital creative director, Bulletproof: “Over-communicating the ‘reason to scan’ remains the key challenge – otherwise all content stays hidden. People are happy to scan if the execution is novel enough. Cygames’ drone show, forming a QR in the Shanghai night sky, is a spectacular example.
“But, like anything that takes effort to engage with, QR codes are only as effective as the payoff they provide. Ritual driving is where we’re headed now. Codes that recognize how many times they’ve been scanned and serve up new, sequenced content, provide people with a fresh reason to retain and revisit QRs. Repeated scans form habits and therefore give the tech a longer, more meaningful lifespan – brilliant for brands seeking to drive ritual building or instructive learning.”
Yahye Siyad, diversity & accessibility lead, Cyber-Duck: “As someone with a serious visual impairment, if QR codes (as typically used today) died out tomorrow, almost nothing would be lost in terms of my engagement with brands. Blind people simply don’t know they’re there unless we’re told, and they mostly link off to sites incompatible with screenreaders. For people with motor control impairments, it’s hard to hold a phone (and the object the QR code is on), and scan it. And taking people who’re deaf to audio descriptions or videos without captions is a dead end.
“It wouldn’t take much to rethink this to deliver brilliant, inclusive brand experiences. QR alternatives like NaviLens can be used at long distances, scanning the environment. Near-field communication (NFC) integration could directly ‘ping’ a disabled user’s device via assistive technology rather than having to scan.
“QRs should lead to a choice of accessible content. Without this type of inclusive design thinking, any brilliant potential QR use cases are simply beside the point.”
Del Credle, head of strategy & media, Laundry Service: “Having lived in China, where QR codes are part of daily life, I’ve seen their potential. I used them multiple times a day: buying groceries, exchanging personal details, renting bicycles, opening doors, and paying bills.
“They are not yet being fully realized here in the US. And, while there are endless implications for marketers, the meaningful opportunities lie in their potential for e-commerce and to ease our use of technology in everyday living. We should push to integrate them natively first in our social ads and organic posts.”
Josh Kirby, associate programmatic director, M&C Saatchi Performance: “QR codes are a brilliant concept, bridging the gap between the online and real world.
“But they are being used as a gimmick over performance. In most use cases (CTV, DOOH), the QR code sits at the end of an ad with no time for consumers to interact. Tracked tests show that the number of people willing (or able) to use the QR code is so small that marketers can develop no real insight into the performance of that campaign. If QR codes have a hope of lasting, advertisers need to rethink their delivery, and make usability a priority.”
Jonathan Izzard, strategy director, Wonder (part of the Amplify collective): “It’s easy to feel underwhelmed by the sight of a QR code. It’s the visual embodiment of rigmarole: dig out your phone, open the camera, pinch to focus, and launch a link, all while wondering whether the end will justify the means.
“But, for brand experiences, QR codes can help offer more enriched and inclusive moments. NaviLens (souped-up QR codes) at exhibitions and events provide blind and partially sighted audiences with vital wayfinding and experiential narratives.
“QR codes offer a universal baseline for connecting audiences and a lo-fi conduit to whatever’s next, from mobile payments to location-based interactions; AR to AI.”
Caitlin Lacey, senior director of product marketing, Niantic: “Mainstream adoption of QR codes during the pandemic has led to the ability to provide interactive experiences almost anywhere. Now a globally recognized portal that delivers useful information and experiences (and with new features and improvements in the pipeline), they will get more versatile, more secure, and more personalized still.
“Launch a webAR experience via your QR code on branded packaging and provide consumers more context for your product or delight them with a map to a physical location. QR codes can invite folks back; the hard work of showing people what to do and when to do it is behind us.”
Nick Horne, creative director, True: “Perhaps the value of QR codes has been misplaced – note their superfluous use on the side of lorries whilst driving down the motorway.
“More recently, we’ve seen QRs used as ‘likeness tests’, when a person is being authenticated by on desktop. Now, with AI’s developing ability with mimicry and deep fakes, likeness tests are driven through users’ phones with live imagery, with users’ transition from desktop to mobile handled by QR codes – a process WhatApp is also using for authentication. Obsolete technology? We think not.”
David Moore, executive creative director, VMLY&R Commerce: “The QR code is just the on-ramp to engagement. It’s not the engagement itself. Additional technology (geo-location, object recognition, AR, AI) can be added to create the rich, immersive experiences that consumers love. This flexibility and adaptability are why they’re so resilient.
“We’ve been harnessing the QR code’s power to add fun and relevancy to the moment of transaction. We’ve enabled customers to turn sneakers into cookies with Oreo Stuff Scan, Coke banners at the World Cup into meals with Billboard Labels. Even the loose change in your pocket can become an escape with Nature Valley Adventure Quarters.
“As demand rises for omnichannel experiences, the future of the QR code is only limited by our creative imagination.”
Shaun Crockett, creative director, experience, Signal Theory: “Our world is increasingly mobile and digital. The ability to transform a physical experience into a digital one with a wave of a smartphone is powerful. Yes, it can provide a beer list at the bar, but it can also bring up assembly instructions with an augmented reality layer showing how that bookshelf goes together.
“And don’t forget about wearables. QR codes are the perfect language for fancy XR glasses to provide a physical connection to your digital life. QR codes aren’t going anywhere. They have become the conduit for users to connect in a more seamless way to other technologies.”
David Brewster, client lead at GreenJinn: “Brands and agencies want to use QR codes, but don’t know how to make them effective. The call to action is vital. Instead of simply sending people to their websites, brands need to offer something to customers.
“We help brands use QR codes with our tech to give consumers tangible CTAs from the media with an in-store (or online) coupon, making the media work harder. Brands can see the media performance, understand the consumer’s journey, and retarget.”
Rob Walsh, vice president, brand experience, Allied Global Marketing: “QR codes will play an ever-evolving role in the world of brand experience, allowing brands to leverage their versatility, creating more seamless experiences.
“With augmented reality (AR), QR codes can bridge the gap between the real and virtual worlds. QR codes on tickets will grant access to live streams and exclusive content, providing an immersive way to enjoy events from home. At live events, QR codes will support ticketing and custom interactive experiences. Imagine going to a festival bar, scanning a QR code, and being offered contactless payment, menu access, personalized drink recommendations and loyalty rewards.
“From a sustainability standpoint, QR codes will contribute to brands’ carbon emission goals, offering eco-friendly marketing practices by reducing the need for printed materials.
“In a world demanding instant gratification, the QR code’s simplicity, speed and accessibility means it will play an important role in the future.”
A lead magnet is a free resource or deal offered by marketers to customers in exchange for their contact information. They are a tool for capturing leads and building a list of interested prospects. Lead magnets can take the form of e-books, white papers, webinars, free trials and more. By offering lead magnets, businesses can attract and engage with potential customers, ultimately increasing the likelihood of converting them into paying customers. In fact, businesses with a mature lead generation process acquire more leads and are said to generate, on average, 133% more revenue.
Let’s take a closer look at some of the other benefits of using lead magnets and discuss how you can use lead magnets—particularly e-books and white papers—in your own marketing efforts.
The Benefits Of Using Lead Magnets In Campaigns
There are many benefits to using lead magnets. They can help you:
Attract a target audience. When lead magnets provide value to the target audience, it can incentivize them to exchange their contact information, effectively attracting and capturing leads.
Build relationships. Lead magnets can help you establish trust and build relationships with the target audience.
Increase engagement. Lead magnets encourage potential customers to engage with the business’s content, increasing the likelihood of them becoming paying customers.
Qualify leads. Lead magnets help businesses determine the level of interest and engagement of potential customers, enabling them to prioritize and qualify leads.
Establish thought leadership. By offering informative content, businesses can establish themselves as thought leaders in their industry.
Boost brand awareness. Lead magnets increase brand awareness by promoting the business’s products or services to a larger audience.
Provide valuable insights. Lead magnets offer valuable insights into the target audience’s needs and interests, enabling businesses to tailor their lead-generation campaigns and marketing efforts.
Utilizing E-books And White Papers As Lead Magnets
E-books are comprehensive, educational content that can provide valuable information on a specific topic related to the business’s industry. They can be a guide, tutorial or case study and can be used to educate potential customers on the benefits of the business’s products or services. Moreover, my company surveyed marketers and 55.9% said that e-book samples generate the highest conversion rate in short-form written content.
Follow these steps to create and promote an effective e-book:
Identify the target audience. Start by identifying the target audience for the e-book and their needs and interests. This will help you create an e-book that is relevant and valuable to them.
Choose a topic. You want to be strategic and choose a topic related to the business’s industry.
Plan (and write) the content. Outline the introduction, main sections and conclusion before you start writing. Ensure the content is informative, educational and relevant to the target audience.
Design the e-book. Use design elements such as images, graphics and headings to make the e-book visually appealing and easy to read.
Publish the e-book. Publish it in a format that is easily accessible, such as a PDF.
Promote the e-book. Promote the e-book through a variety of channels, including email marketing, social media, advertising and landing pages on your website.
Measure the results. Measure the e-book lead magnet campaign results by tracking the number of downloads and conversions. Use the insights gained to improve future campaigns.
Unlike e-books, white papers are in-depth, research-based content that provides insights and solutions to specific problems related to the business’s industry. They often demonstrate the business’s thought leadership and expertise in a particular area. You can often use the same process and strategy above for a white paper, and by offering white papers as lead magnets, you can further establish yourself as an expert in your field and provide valuable information to potential customers.
Best Practices For Using E-books And White Papers As Lead Magnets
There are several strategies for promoting and distributing lead magnets to your target audience. Here’s how:
Choose the right channels. Carefully research the channels through which you will promote and distribute the lead magnet, making sure the channels align with the target audience’s preferences and behaviors.
Offer the lead magnet on landing pages. Create landing pages on your website specifically for the lead magnet and offer it in exchange for the target audience’s contact information.
Use email marketing. Promote the lead magnet to your existing email list and encourage them to share it with their network.
Utilize social media and influencer marketing. Use social media platforms such as Twitter, Facebook and LinkedIn to promote the lead magnet to the target audience. You can also partner with influencers in your industry to promote the lead magnet to their audience.
Offer the lead magnet through webinars. Offer the lead magnet as a resource during webinars or other events to encourage attendees to download it.
Utilize paid advertising. Use paid advertising, such as Google AdWords or Facebook Ads, to reach a larger audience and drive traffic to the landing pages for the lead magnet.
Monitor and adjust. Monitor the results of the lead magnet promotion and distribution strategies and adjust as necessary to improve the effectiveness of the campaign.
In conclusion, with the use of e-books and whitepapers, businesses can establish thought leadership, boost brand awareness and increase conversions by offering valuable and relevant content, delivered in a thoughtful, targeted manner.
Feature Image Credit: getty
By Vikas Agrawal
Co-founder at Infobrandz, an elite team of visual communication experts taking content marketing to the next level.
Let me conclude by saying that I am not someone who’s just done a lot of reading about this stuff and is now opining about it. In my businesses, I always invested in marketing. That’s how two of my companies got on the Inc. 500/5000 list — one of them three times. And today, the new and existing businesses I am involved with heavily invest in marketing and advertising and have a revenue growth curve that reflects that.
