Once a Day Marketing

Wednesday, September 11, 2013

Move Your Marketing Plan Forward (Action Wednesday/Process)

Once a Day Marketing™ featured video blog: Taking Action: Getting Things Done

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Action Wednesday and you are going to review your marketing action plan and finally tackle that one important item you know you should finish.

If you are a regular follower of Once a Day Marketing™ you know I am a big fan of creating marketing action plans and prioritizing and executing tasks that will improve your marketing and branding.

Your task for Action Wednesday is to look at your marketing action plan and determine which one of the outstanding items is the most critical item to follow through to really improve your business. Perhaps you want to revamp your website or create a demonstration video to show off your product.

Start on the task you want to finish right now and establish a target date to have it completed. It is going to put your business in a good position and provide a great sense of accomplishment.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™. All rights reserved.

Tuesday, September 10, 2013

E-Tailing Best Practices – New Mexico Magazine (Strategic Tuesday/Process)

Listen to our featured Ask Those Branding Guys radio show podcast: Creating a Great E-Commerce Site

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Strategic Tuesday and we are talking about best practices for creating an online retail environment.

On our radio show Ask Those Branding Guys, we spoke with Ava Salman, e-Commerce Product Manager of New Mexico Magazine. In its 90^th year, New Mexico Magazine is the oldest state magazine in the country with 70% of subscribers outside of the state. The retail presence at NMMagazine.com features items that reflect the spirit of New Mexico and allows subscribers to engage with the brand.

Ava began her online marketing career in the late 1990s with High Country Gardens and shared that in the early days website tools were designed and built from scratch which was very expensive. Today, technology allows any size business to create an online retail presence at a much lower cost.

Salman note that the two most important aspects of e-tailing are driving traffic to the site and providing a good customer experience. Other key elements of a good e-tailing site include ease of use and clear process.

To get started with online retail, several choices are available for a low monthly cost or with minimal development. Ava recommends using Live Chat to enhance the customer experience by answering product questions that may be barriers to closing the sale.

Once the infrastructure is in place, Ava advises visiting sites that provide a good customer experience to assist you in identifying best practices and components that you would like to include on your own site. Features such as paid return shipping may be expensive. Ensure that items you select align with your business model from a cost perspective.

Don’t forget to plan for both traditional and social media marketing campaigns to drive traffic to your site.

Enjoy the podcast.

Monday, September 9, 2013

The Consumer Adoption Process (Smart Monday/Process)

Once a Day Marketing™ featured video blog: 5 Steps of Consumer Adoption

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Smart Monday and we're looking again at Philip Kotler's work, specifically reviewing the adoption process of consumers.

There are five stages to this process: awareness, interest, evaluation, trial and adoption. Kotler's model assists us to understand the minds of consumers as they consider buying new products, in particular how they react when exposed to new ideas.

During the awareness phase, consumers have to somehow become aware of the product; that's what marketing is all about. As you advertise, then they become interested and seek product information.

Next is evaluation when potential customers obtain and review details about the product and determine if they want to try it. Today the internet is widely used as a means to gather information related to new products.

In the trial stage, that is what customer actually do. They use the product to see if they like it.

If they do then they move into the adoption phase and become regular buyers of the product or service.

Your goal as a marketer is to facilitate the adoption process for your customers. It will be different for every kind of product. Consumer may be more likely to try an inexpensive product. For more expensive products the evaluation step before the trial will be longer.

Also, consider the individual customers; every customer is different. Some are early adopters and others wait for everyone else to buy once it becomes a proven product. These customers are often referred to as laggards.

When you create your marketing plan ensure you understand these stages of adoption and develop an advertising campaign with customer behavior in mind.

Friday, September 6, 2013

Reaching the Gen Y Market (Digital Friday/Promotion)

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Digital Friday and we are discussing where to focus your marketing campaigns to reach the Generation Y audience.

Generation Y are generally considered to be young adults with birthdays between the 1980s and early 2000s, spending about $200 billion annually. According the GenerationY.com communication is key for this group. However, it has to be via their preferred means. Facebook or e-mail messages will elicit a quicker response than a more traditional phone call.

Generation Y fast facts (source: theechoboom.com):

-          Population of 80 Million (larger than Baby Boomers)
-          34% are Black, Hispanic or Asian or Native American
-          1 in 4 live in single parent households
-          75% have working mothers
-          Highest level of education compared to previous generations

A business that is interested in reaching the Gen Y audience, also known as "Millennials," should craft a creative and authentic message that will capture the interest of this young, educated group. Focus distribution on the social media channels like twitter, instagram, facebook and vine. Ensure you message is delivered consistently; Gen Yers tend to be less brand-loyal than their parents.

If you plan to target the Gen Y market, integrating social media into your campaign will increase your chances of success.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. You may also contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com

Thursday, September 5, 2013

Pricing Strategies That Work – Part 2 (Recon Thursday/Price)

Once a Day Marketing™ featured video blog: Pricing Strategies - Part 2

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today we are continuing our series on pricing looking at four additional strategies.

Key factors that come into play when evaluating pricing strategies are the uniqueness of your product and what your competition is doing.

The first strategy we will discuss is called bundle. In this scenario various products are bundled together and sold at a lower price than the individual items. Supermarkets frequently practice this method, perhaps advertising bundles of house cleaning products or milk and bread to entice customer to buy additional items.

Next is psychological pricing. Here you determine a price that will be seen favorably in the eyes of your customers. Would a customer be more likely to buy a $1 order of French fries or an order for $0.99? The actual difference in price is negligible but psychologically the two price points are viewed very differently.

Then we have premium. A high price is established to create greater perceived value for the product. Some consumers will gravitate to a high price because they believe they are getting more for their money.

Last is optional pricing. This strategy may be employed by a car dealer for instance. They offer a base model and customers are given the option to add such items as stereos or leather seats to the product for a higher price.

There are numerous pricing strategies available. Determine which are most appropriate for your product and your market. You may want to try different pricing strategies for various target customer segments.

Pricing is the only one of the 7Ps that doesn’t cost anything to implement. Pricing drives your revenue and eventually your profits. It is essential to thoroughly evaluate the process of pricing and impacts to your customers.

Wednesday, September 4, 2013

Pricing Strategies That Work - Part I (Action Wednesday/Process)

Once a Day Marketing™ featured video blog: Pricing Strategies Part 1

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today we are going to dive deeper into one of the 7Ps of Marketing: Price. There are great pricing strategies you can leverage to better penetrate the market or increase profit.

Today and tomorrow we will be discussing eight different pricing strategies. Choosing the correct one(s) depends on your goals. Distributing product in the marketplace quickly or establishing a position in the marketplace as a very high-end product that commands a higher price are just two of the factors you will have to take into consideration. Always keep in mind that pricing is driven by supply and demand.

The first pricing strategy is called penetration. Very low pricing is established to push product into the marketplace quickly. Margins will be low, however, this strategy should drive increased volume.

Next is skimming. A higher price is set at product launch to capture dollars from early adopters. You are able to charge this customer a higher price because they are willing to pay a premium to be the first ones to have a new/upgraded product.

In competition pricing you decide if you want to be lower, the same or higher than your competition. Consider gas prices; at an intersection typically all of the gas stations set the same price

Lastly we’ll look at product line strategy. Here you offer a variety of products each at a different price point. Customers on a budget may buy the entry-level product and there are middle and higher price tiers.

Tomorrow we’re going to talk about four more pricing strategies.

Tuesday, September 3, 2013

Made in America Branding (Strategic Tuesday/Positioning)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Strategic Tuesday and we are looking at recent marketing emphasis on products made in America.

We are noticing a trend emerging to promote goods made in the USA. New Balance boasts that it is the only major company making footwear in the USA. Its website highlights 75 years of creating quality products in America and employing 1,300 workers. This past weekend some retailers offered added discounts on USA-made products, encouraging shoppers to buy American.

The research firm Brand Keys surveyed 4,500 consumers to determine the top 25 most patriotic brands. Jeep was the identified as the top brand followed by Hershey's, Coca-Cola, Levi Strauss and Walt Disney.

Apple, Inc. is also contributing to this patriotic trend. One of their latest ad campaigns touts "Designed in California by Apple." Additionally, CEO Tim Cook announced that Apple is planning to manufacturer Macs in the USA.

For Strategic Tuesday, consider how to align this latest consumer sentiment with your company, brand or product to capture more customer loyalty and sales.