by Belinda Lui | Dec 3, 2013 | Advertising, Latest
I was watching a TED talk from Rory Sutherland, the Vice Chairman of Ogilvy Group, and his lesson was on the power of perception as it pertains to real value and perceived value. We’re all probably aware of the fact that Advertising is an influential force behind consumerism, but what I want to explore in this post is the root of that behaviour: perception, and how the real-value of things is less significant than the perceived value of things.
The power of perception can change almost everything; from what we eat to how we drive:
1. The Potato
Frederic the Great was very keen on the potato being adopted into the diets of Germans. He tried to make it compulsory and people were executed for refusing to grow potatoes. So he changed his strategy and made it so that potatoes could only be grown by Royalty (and would be guarded as such). The reaction was that if something was good enough to be guarded, it’s good enough to be stolen. He changed the perception of Potatoes.
2. Shreddies
Canadian intern, Hunter Summerville, thought of a way to re-launch Shreddies: he thought of a way to add intangible value to a product without actually changing the product itself. Changing it from a square to a diamond. It was a refresh in how Shreddies were perceived, even though it was only tilted slightly to become a diamond.
3. Speeding
Instead of showing your speed, the sign would flash either a smiley face or a sad face. These signs cost about 10% of a speeding-camera but prevent twice the amount of speeding collisions. It goes without saying, knowing your speed might deter some people from speeding, but when speeding was associated with a sad face, people were more likely to slow down.
What I’m trying to illustrate here, is that perhaps like most things in life, it is our perception of things that make them valuable – and less about what the actual value is.
What are some of your examples of real-value versus perceived value?
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!
