by Lisa Wedmann | Dec 2, 2013 | Latest, Marketing
As 2013 is ending, budgeting for 2014 is well under way. In fact, for many companies budgets and the business plans for 2014 are already in place. But the piece that is often missing is the marketing plan.
The marketing plan will include a list of actionable items to be implemented throughout the year. This plan will be the “bible” for the year. It should clearly identify:
- Define goals and targets, monthly, quarter and yearly, and how you will measure success;
- Define strategic activities you will undertake that will help to reach goals and targets;
- Define audience for each activity;
- Define who is involved and responsible for each activity
This plan needs to be based on defined objectives and the strategies that will, in effect, achieve the objectives. Without a sound strategic base, the marketing plan will be of little use. So how do you go about creating this?
The best place to start is looking back at the previous year, and also carefully analyzing the company’s strengths and weaknesses, and the competitive landscape. How do you do this?
A solid and must have start is to do a S.W.O.T. analysis. What is a S.W.O.T? It is an examination of the Strengths, Weaknesses, Opportunities and Threats facing your business. This analysis will help you to identify key insights on where your brand or business is within the market landscape, competitive arena and also assist in establishing brand tone, persona and voice. It will assist in developing strategic plans to move forward. You will be able to pinpoint what makes you different from your competitors (USP), what the strengths and weaknesses are, and where opportunities lie moving forward.
Next, take a look at what we call, “Lessons Learned”. Review the year, and every program, from beginning to end. This goes beyond just looking at the end results. Yes, meeting goals and targets is important, but there are other key learnings to be taken from the program: 1) were all departments on board? 2) Was there an internal communication breakdown? 3)Was the timing off, to name only a few. Write it all down. Out of this review will come 4 lists:
- What worked – and why!
- What didn’t work – and why!
- Lessons Learned – what did I learn about this?
- Recommendation on moving forward.
Just starting with these 4 lists, S.W.O.T and “Lessons Learned”, you will have a good place to start as you lay out your plans for 2014. These three analyses will help you clearly define a direction, target audience, competitive landscape and media channels that will help you to build a successful and memorable 2014!
Do you have a marketing plan for 2014? How do you begin your plan?
by Belinda Lui | Nov 29, 2013 | Latest, Social Media
The first thing you see when you visit Instagram’s webpage is their tagline: “Capture and Share the World’s Moments” – which is the purpose for the multi-billion dollar company (now owned by Facebook). What users actually use it for, however, can vary in a multitude of ways. This is great news for businesses because they can optimize their reach in ways that other social media outlets may not allow for. Not to mention, this untapped demographic may include people that are on Instagram but don’t have a Facebook or Twitter account.
Personally, I’m an avid Instagram user and will swear by its significance in both personal and professional avenues.
Instagram can connect you with people that you would otherwise never have been connected with.
For businesses, this can mean reinforcing their brand identity while increasing revenue.
1. Michael Kors:
At the beginning of November 2013, Michael Kors was the first business to run an advertisement on Instagram – only to be met with criticism from their followers. The statistics, however, show that despite the disapproval from many followers, the results were exactly what Michael Kors had hoped for: in the first 18 hours of its launch, Michael Kors gained 34,000 new followers putting them at 1.3 million followers.
2. Sponsored Posts:
A sponsored post can increase viewership by pushing them to users that are not already following the account. Like Facebook, it promises impressions but not necessarily “follows” or “likes”, and unlike Facebook, you can’t target a specific demographic. In any case, a riveting ad or a great offer isn’t normally rejected by most – so it’s still worth considering.
3. Optimization:
There has been viral videos wreaking havoc on the usage of hashtags – for those who don’t know, a hashtag is the number sign (#) followed by a word or phrase. Some people have abused the purpose of this tool, but it’s actually very useful if used properly. Hashtagging organizes your photos by topic so that interested users can easily access relevant photos.
What are some of your favourite Instagram accounts to follow?
by Belinda Lui | Nov 28, 2013 | Branding, Latest
I briefly wrote about the Hudson’s Bay in my article, “Retail Marketing: Be Seen and Heard”, but I wanted to elaborate on the genius that is behind the mass retailer. Bonnie Brooks didn’t only make The Hudson’s Bay a trendier shopping destination but her business strategy re-positioned the entire brand perception. Reinventing brands is something Bonnie Brooks is familiar with: she formerly worked as an executive officer at Lane Crawford as well as Holt Renfrew.
Reinventing your brand when it has reached a plateau can give it the fresh, sales-driven push that it needs:
1. Advertising:
Hudson’s Bay launched several radio spots to reinforce their brand using Bonnie Brooks’ voice as the spokesperson. This created a more personalized feel, given that it came directly from the President herself.
2. In-store Re-design:
Hudson’s Bay spent millions of dollars renovating the department stores’ interior layout for several locations. A lot of businesses may not immediately see the importance of dishing out obscene amounts of money for a refresh in storefront appearance, but Brooks did – and it’s paying off.
3. Demographic:
Carrying brands that would appeal to the younger demographic, like Top Shop, was a very strategic move on Brooks’ part. Expanding the target demographic would mean more traffic and consequently, more sales.
4. Partnerships:
Hudson’s Bay now carries what they call the “Canadian Olympic Team Heritage Collection” – being one of the oldest Canadian retail brands, making partnership with the Canadian Olympics Team is a great way to sell product nationally. The 2010 Olympic mittens made it on “Oprah’s Favorite Things” list.
5. Heritage:
Brooks didn’t only make Hudson’s Bay a must-go shopping destination for some of the best designer brands but she also brought back the appeal of Hudson’s Bay’s brand too. From couch throws to the classic teddy bear, it’s the Hudson’s Bay as a brand that she’s selling.
6. Logo:
There’s a new strategy in place so why not a new logo to identify with the refresh? Logos can be tricky – you want it to be eye-catching but you also want it to “speak to the heritage of the brand” – and that’s exactly what Hudson’s Bay has done.
Can you name another company that has gone through major reinventing that is worth mentioning?
by Belinda Lui | Nov 27, 2013 | Latest, Social Media
Facebook last reported having 1.1 billion active users a month and since its inception in February 2004, it can unanimously be agreed upon that it is one of the most successful social networking sites ever created. It isn’t just successful in the sense that it can connect old friends, lovers, and family – but it can also connect businesses to consumers. Facebook Marketing was dimly understood when the opportunity to place advertisements on the site was first implemented. In recent years, they have developed an interface that is much easier to navigate and much easier to assess.
It may seem intimidating at first, but here are a few things you might want to look out for before you post your first Facebook Marketing activation:
1. Demographic and more:
You will notice as you choose a certain age range, countries, gender, marital status, etc. that the number of possible reach will increase/decrease. Be specific about exactly who you’re targeting: you don’t want to pay for impressions that are not in your target market. Niche marketing is where it is at, so if you want to speak to a certain segment of your primary target, you can do that too. Facebook enables you to target Women, who are interested in food and dining, and who are parents….etc… It’s not only demographics but psychographics as well.
2. Bids:
This is how much you’re willing to pay per click, impression, or like. You can customize your Facebook Marketing campaign so that you only pay when a user clicks on the advertisement (or simply sees it). You can also choose the option to only pay if the user ends up liking the page that the advertisement was made to promote. Your choice should depend on the purpose of your campaign.
3. Tracking:
You can easily manage your ads in the “Ads Manager” button on your Facebook page. The data will be sorted by impressions (organic and paid) as well as the demographics that the advertisement is really appealing to. Like any project, it isn’t effective if you aren’t going to learn from it – figure out what worked, what didn’t, and how you can make it even better next time.
Unlike renting space to place an ad, without real quantifiable statistics on how well the advertisement has done, placing an advertisement on Facebook can be measured accurately and in real-time. It can also be customized based on how much you want to spend and who you want to reach, specifically. Facebook Marketing is an effective and affordable way to maximize reach for your brand or campaign.
What has been your experience when using Facebook marketing? Share them here.
by Miriam Hara | Nov 26, 2013 | Latest, Marketing
Who would have thought? The year 2013 and holiday greeting cards are a thing of the past. Or are they? I believe that sending out holiday greeting cards may be perceived as a blast from the past: I refer to it as retro marketing. I also happen to believe it’s a good thing… on many levels.
We all know that retro is running with a “1960”s style and design and making it contemporary. I like being thought of as retro.
At the risk of being obvious, retro marketing takes that idea and applies it the the principles of marketing.
Making a way of communicating or reaching out to business partners that is so “60’s, and making it contemporary and hip…again! An old fashioned way of saying” hey remember us….see what we can do”.
For as long as I have been in business, this time of year, I have always looked forward to receiving holiday greeting cards. Those of us in the creative, marketing and advertising fields, have always gone the extra mile to show how creative we can be. I always thought that our clients – existing and potential – business partners and contacts enjoyed seeing what we could come up with…. year after year.
A few years ago, we had this great internal debate on whether we should go the digital route, to showcase our digital savvy-ness… Some felt that sending a traditional paper greeting card made us look passé and not keeping up with the times. Others felt that a card went so much further in establishing our relationship with the recipient and showcased our creativity for all to see… There were good points made on both sides.
So what did we do? We did what we do best…we pondered the challenge creatively…. and brainstormed. Why does this have to be an either or scenario? Why couldn’t we do both? So, we sent out our creative Holiday Greeting card… and added a digital components, which was beautifully designed and executed for people to register online… and for each registration received, we donated funds to the Indigo Love of Reading Foundation… another retro marketing initiative!
I believe that this time of year is personal… and having a card to open with a personalized message in that card says a great deal to the person on the receiving end. Let’s admit this…most of us get so many emails that sometimes we miss a few… rushing about to get through them all. Business, in spite of its speed and ever increasing demands, is still very much about the personal. Taking the time of the hectic, and making the time to be personal… is well, retro marketing at it’s best, don’t you think?
Will you go retro marketing or not this holiday season? Do you dare? Let me know!
by Belinda Lui | Nov 25, 2013 | Advertising, Latest
Soon after Halloween passes (literally, November 1), the Christmas paraphernalia goes up. I used to be nauseated by how money-driven retailers must be to shove money-spending down our throats. Then, I remember that the Christmas music also starts soon after on the radio, and most importantly, the Christmas-themed commercials.
Seasonal advertising is probably one of my favourite type of advertising – it gives copywriters and art directors an opportunity to encapsulate the emotions felt during every holiday and prompt some sort of response from its viewers/listeners.
Here are a few of my most anticipated Christmas advertising:
1. Coca-Cola
From their seasonal packaging to their feel-good advertisement spots, Coca-Cola is definitely number one on my list of favourite Seasonal Advertising Campaigns.
2. M&Ms
Who wouldn’t love the two M&M characters? Seeing these animated chocolates, with whom a lot of us have grown a kinship with over the years, live out the innocence of preparing for Santa Clause’s arrival – brings back the memories in 30 seconds (or less).
3. Tim Hortons
Tim Hortons definitely gets the “feel-good”, “patriotism”, and “family” notions spot-on. Who doesn’t like a bit of those things during the holidays?
4. Old Navy
If you’re the type of person (and who isn’t?) that appreciates an upbeat, jolly, dance number – then you would look forward to these commercials too.
5. Target
Still considered to be fairly new to the Canadian market, Target has the ability to capture feel-good and “hip and trendy” in the same ad spot.
While the underlying goal in every advertisement is to push sales, it is no wonder why marketers spend most of their ad money in the fourth quarter: people are more willing to spend during the holiday season and are vulnerable to the emotions that come along with Christmas. Still, if only for the appreciation of great creative work: I thoroughly look forward to Seasonal Advertising Campaigns.
What are some of your favourite Seasonal Advertising Campaigns?
