Friday, December 23, 2016
Sponsorship and Brand Awareness: The Stats
Even if you don't necessarily see sponsorship of charities, non-profits, or other local organizations as a valuable addition to your marketing arsenal, it's clear that somebody does. According to a study conducted by IEG Sponsorship Report, sponsorship was a $2 billion dollar enterprise in 2016 and is expected to increase by roughly 3.7 percent over the course of the next year.
A report generated by the Edelman Trust Barometer indicated that sponsorship even goes far beyond marketing impact. Eighty percent of consumers around the world agreed that a business has a duty to play a very key role in addressing modern issues.
It even plays an important role in your own company culture. Fifty-one percent of employees surveyed said that they didn't want to work for a company that didn't have strong societal and environmental commitments, and almost seventy-five percent said that they liked their jobs more when they were given the type of opportunity to make a positive impact that sponsorship affords.
Sponsorship Best Practices
If you do decide to go ahead with sponsorship as a new brand and marketing opportunity, there are a few key things you'll want to keep in mind. For starters, do your research carefully. Always make sure that you're aligning with an organization that meshes with your existing culture and values. Do as much deep digging as you possibly can, as sponsorship creates something of a symbiotic relationship between two entities. A scandal at one will more than likely affect the other, so you'll want to make sure that there are no skeletons hiding in the closet before you start spending your money.
You'll also want to make an effort to isolate the impact of your sponsorships from the rest of your marketing activities, as only then will you be able to fully understand just what role it is playing in your larger campaign. MarketStrategies.com says that only half of marketers actually do this, which is a mistake. Though you're doing something for a good cause first and recognition second, it still needs to be measured for maximum effectiveness - the same as anything else.
These are just a few reasons sponsorship is such a valuable branding and marketing opportunity, particularly for companies operating in the small and medium-sized business space. Not only does it give you a chance to raise awareness in a powerful way, but it also allows for something even more important - you get to give back to the community that you are an active part of.
Tuesday, December 20, 2016
The Main Three
It seems that you can boil business emotions down to three that most business owners share or have experienced at one time in their business journey. They are:
Do you ever find yourself being scared that you might actually succeed? Fear is one of the most common emotions that successful business owners feel when first starting out. Being afraid of success can hold you back if you don't properly deal with it. Operating any company requires risk, and it is because you are human that risk likely scares you.
By talking with people who have taken a risk before, you will gain a better perspective on how to balance risk with common sense. Overcome fear and risk by having an open mind, and be willing to be a lifelong learner. The more you learn, the more you know in regards to appropriately handling different issues in business.
Another common emotion tied in with running your own business is euphoria. If you have any success at all, your brain will create endorphins and cause you to feel extreme pleasure. And while euphoria is a great motivator to help you continue your success, you must remember that running a successful company requires a daily effort. Just because all of your clients are satisfied on one day does not mean they will all be satisfied the next. Be prepared to make changes as needed.
Frustration can be minimized by taking time out of each day to focus on yourself. If you're not happy, neither will your customers. If you find yourself frustrated, take a step back and give yourself a moment to clear your mind. Clarity is essential to overcoming the frustration that is tied in with chaos and change.
Dealing with the emotions that go along with operating your own business is key to keeping your company afloat. By following the tips mentioned above, you'll be much more likely to run a business that brings you much success and joy.
Friday, December 16, 2016
Incorporating creativity into the buying process means human experience should play a core role. Businesses prefer to partner with businesses they can relate to; ones they have a common goal with. This is why the human experience should always be shared when creating or redefining a company's brand. The more relation a company can share with a distributor or manufacturer, the stronger the business-to-business and business-to-customer relationships will be.
So, how does a business owner go about integrating creativity into his or her lifestyle to improve the creative buying process? Fortunately, there are many ways company owners can embody creativity into their everyday life. Here is a close look at three of them.
1: Go on vacations
When a business owner does not have time to go on a vacation, this probably means he or she is working too hard. Operating a successful business involves all aspects of the company being conducted in a healthy manner, including its employees and owner(s). Going on a vacation allows the owner to indulge in his or her passions, which increases endorphins and serotonin and leads to the enhancement of creativity in the mind. Business owners often find their most genius ideas come to them while away from work.
2: Take chances
Business owners don't become successful out of fear. Instead, they are willing to take risks. You'll never know if a creative idea is going to work unless you try it. If you're fearful about trying out a new creative idea, you can always turn to the support of your friends, family, coworkers, and any people you consider mentors. If you steer clear of taking chances, this is a sure way to kill the creativity in your life, which means creative buying processes will be at an extreme minimum.
3: Share your experience
The number one way to blend creativity into your lifestyle as a business owner is to share your experience with others who are striving to achieve the same goals you are. In doing this, you will receive valuable feedback that can help you steer clear of costly mistakes while at the same time learn about successful creative buying processes others are using that you can take advantage of.
Make sure you keep in mind the three tips mentioned above as you continue on your journey as a business owner. Creative buying processes are an essential part of managing any type of business, and as these processes improve, you will notice a substantial change in your capability to expand the services you offer to a wider range of customers because you will have more time and energy to focus on meeting your customers' needs.
Tuesday, December 13, 2016
If you're wondering how small changes will affect the greater success of your marketing campaign in the eyes of your users, why don't you just ask them? That, in a nutshell, is what A/B testing is all about.
What Is A/B Testing?
Sometimes referred to as split testing, A/B testing involves comparing two or more versions of something to see which one is more effective. In marketing terms, it's easy to see the value of this approach almost immediately. Do you have two similar, yet different, versions of an e-mail subject line and are wondering which one might be the most effective? Get an e-mail list of 100 of your average customers together and try both at the same time. Send one version to a group of fifty customers and the second version to the other fifty. See which one performed better (and why) before making the decision of which one to use for your whole campaign.
A/B Testing Statistics
Don't just take our word for it - there is a wide range of statistics that prove just how valuable A/B testing can be. According to a study conducted by Steelhouse, A/B testing is THE most used method for improving conversion rates in marketing campaigns. It isn't just marketing companies that are getting in on the action, either. During his re-election campaign, President Obama was able to raise an additional $60 million dollars through a carefully designed, calculated A/B testing regimen.
The important thing to understand is that you can (and should) use and A/B test on every portion of your campaign before you bring it in front of the eyes of the widest possible audience. Take your website, for example. As the "welcome mat" of your virtual identity, A/B testing your website is the perfect way to see which of those two designs you're thinking of is better. This is incredibly common - in fact, Pardot research revealed that Google ran more than 7,000 A/B tests on its own interface in 2011 alone.
But again: it doesn't actually matter what you're A/B testing, just that you are. In print marketing, this concept can be just as effective. The key is that you're not taking anything for granted. You're getting your collateral in front of the eyes of real people, seeing how they respond, and then using that as the basis of actionable decisions that you make moving forward.
In the world of marketing, it's important to remember the old saying of "you can only make one first impression, so you'd better be sure that you're making a good one." Launching a campaign before it's ready means you can potentially shoot yourself in the foot before you've even had a chance to begin. Investing in A/B testing is one way to avoid exactly that type of problem for now and for all time.
Friday, December 9, 2016
Don't Take Everything So Seriously
To dogs, everything is great. They do not get down about being out of treats. They definitely want one still but they move on very quickly and it isn't that serious. Sometimes you have to approach business the same way. Yes, there are serious situations you will run into, but there are also some that you take too seriously. Things are usually not as bad as you make them out to be, so focus on the good and do not freak out so much over the bad.
Take a Chance on Something New and Trust Your People
Dogs are mostly happy-go-lucky and are always ready to go on a ride. They do not need to know where they are going, but they are happy to be on the ride. They trust you as their owner, and they know they will be taken care of no matter what. This kind of trust is not always found in the business world. In fact, it is rare. However, if you trust your employees, allow them to take the reigns sometimes and see where it can take the business.
Never Meet a Stranger
A dog never meets a stranger and is instant friends with anyone they meet. If you had this same approach, you would have a much bigger network of people that you could reach in your business. You could have new customers, new clients, new friends, and even new business partners. Approach each new person you meet with the same vibrancy and openness as a dog would and you will be surprised by how much it opens doors for you.
Listen When People Speak to You
This may seem very basic, but dogs are always listening when someone is talking to them. They may not do what is asked, but they are listening. Whenever someone is speaking to you in a business setting, you should focus your attention on them and actively listen to what they are saying.
Trust Your Instincts
Dogs follow their noses, and they also have killer instincts. They do not second guess them. Start trusting yourself more and when you have an instinct about something, more often than not, you will be right if the feeling is strong enough.
Dogs can teach us a lot about life as well as business. Most of these lessons can be used in the business setting as well as in your daily life. Just understanding these basic concepts can help you in your own life.
Tuesday, December 6, 2016
But, if you really want to integrate the holidays into your marketing campaign and generate the type of success you deserve, you'll want to keep a few very important things in mind.
Use Holiday Visuals Whenever Possible
Visuals are always an important part of your marketing collateral, but they become especially so during the holiday season. From roughly November until the Christmas holiday season passes, people are already in a receptive mood for this type of imagery - so filling your marketing materials with holiday-themed colors, Christmas trees, packages, and other items is a great way to make sure you're noticed.
According to one study, this type of imagery can increase a person's retention of your messaging by up to 80%. This type of visual element can make your content more likely to be shared up to 40 times more than the average amount.
Look for Local Events You Can Sponsor
If there's one thing you can essentially guarantee about the holiday season, it's that calendars will be filled to the brim with holiday events all throughout the month of December. If you really want to attract the attention of that ever-important local market, you should start looking around for local events that you can sponsor. Not only can you help get your brand out there and raise awareness, but even if the event is only slightly related to your product or service you can still make new contacts and generate new leads as a result.
It's All About Emotion
If there is one key to success regarding holiday marketing, it can all be boiled down to a single word: emotion. The holidays are a naturally emotional time as people get nostalgic for friends, family members, and holiday experiences of years past. It's also a time where people make decisions emotionally rather than rationally - especially when it comes to purchases. Because of this, you should try to lean into the most emotional factor of your campaigns as much as possible. Focus on cheery words and images that will help people feel good about things like giving back, "paying it forward," and more. This is more likely to trigger an emotional response in your campaign, which will spawn action sooner rather than later.
These are just a few of the core ways you can use the holiday season to your advantage throughout your marketing campaign. Perhaps the most important benefit of the holidays is that you're working with a built-in ticking clock. Christmas is right around the corner, and no matter what you do, you can't delay it. People will naturally feel inclined to get those last minute gift purchases in before the big day arrives. If you've been playing into the holidays for your entire campaign, you can pretty much guarantee that you'll be on the forefront of their mind.