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Business

Is Your Business Stuck AF??

Is your business stagnant? Maybe you’ve even seen a downturn in sales or traffic. Sometimes businesses get stuck on old ways that used to open doors but no longer work now.

Markets and technology move fast. The digital age means that you have to stay on top of trends even more than you used to. And you have to stay in touch with what’s going on, or else you’ll lose your place. 

When things get weird, I like to go back to the FOUR fundamental rules of marketing: The Four P’s.

All brands are created with The Four Ps of marketing in mind (and I throw in a couple more for good measure) 

The Four P’s to Marketing are:

  • Product
  • Price
  • Promotion
  • Placement

And my extra two are:

  • Packaging
  • Perceived Value

Why the Four P’s of Marketing is Important

The Four Ps must be considered carefully and none can be left out.

Your Product – Is your product needed, wanted or relevant in the market? Maybe there was a time when it was in higher demand. Look and see who and what your competition are now. What was going on 5 years ago may be a huge difference in what the market wants now. What can you do to make your product fresh again if it’s a bore? How do your products fill a need or solve a problem now? What makes your product unique?

Pricing – How are you priced based on perceived value and your competition? Maybe you didn’t have much competition when you first started out. What does the market demand in pricing now?

Promotion – Pricing and Promotion always work well together. Promotion is based on a special price or offering. Offer something: 10% off, free shipping on all orders, red tag clearance sale, etc. Are you offering promotions regularly to keep your audience engaged? Are these promotions attractive enough to get them on board? If not, adjust your promotional strategy.

Placement Where are you showing your products? Are you marketing your products in the right places to the right audience and at the right time?

My Two Bonus P’s of Marketing

Packaging For many products in the fashion and beauty industry, the packaging is everything. Even if it’s a simple lotion or a pair of socks, what does the packaging say about your company and brand? How does it make the end consumer feel? Does it look like it could be a brand who could hang with your competition? If not, make sure it does!

Perceived value is what a customer believes merchandise to be worth when she agrees to pay (or not to pay) for ownership of the product. Compared to the real value of the product, the perceived value is more difficult to measure sometimes. But this can be achieved with the right angle of your marketing strategies. Perceived value states: This product to me is worth as much as or more than the price tag attached because of _________.

Take for example the frenzy of supply and demand. People will spend more on an item if everyone wants it and if there are is a finite amount of that product available. The perception is that this item is rare, and therefore more valuable.

eBay taught me a lot about perceived value, and how to make things look their best, because that’s really the difference between literally putting a plus-size ladies anorak on a hanger and taking a picture of it, and putting it on a cool girl and making it look like something beyond your wildest dreams that you can snag for way less than Comme Des Garçons. – Sophia Amoruso Founder, Nasty Gal

A great example of the Four Ps in action with the addition of ‘Perceived’ value is Brandy Melville. The Instagram photos, soft colors and basic styles are loved by teens everywhere. The looks are classic but on-trend right now.

The marketing is done in a way that girls identify with and the clothes are made in Italy (Perception: luxury). You’d assume by the ‘made in Italy’ label, the photos and the styles that Brandy clothes aren’t affordable. The perception is already created before you shop, so a customer is very pleasantly surprised to discover she can afford everything! From $16 tops to $20 shorts and $28 dresses. For a small price, any girl can become a #BrandyGirl

Having said that, the perceived value of products offered by a brand is also measured by the loyalty, awareness and positive association by which the brand has created in its target market. 

If you want to learn how to brand like a pro, consider signing up for my free Branding 101 Course!

Business

Awesome Twitter Ad Examples

The secret to a successful ad creative online is to bring something interesting, memorable, entertaining and/or useful to the platform audience without making people feel like they are being ‘sold’ to.  Marketing has evolved. We (consumers) are no longer moved to respond to big red SALE letters (unless it’s already at a brand website we go to, and it says 70-90% off).

Remember these tired old ads? ?

Bad-banner-example
Yeah. We are definitely tuned out to this.

Here are a few recent ads I found that speak louder than any red lettering could, and why I think they rock:

This ad creative from Starbucks is quick, interesting, fresh, entertaining and informative. It’s also very memorable. After a few loops, I will never forget the image of that drink jumping out of the phone.

This one is just flat out entertaining. As a Photoshop gal, I immediately went to the thought of, “How’d they do this?” It’s entertaining, first and foremost. It grabbed my attention. Secondly, I discover their cool app which allows me to earn free drinks. Double stars for Starbucks for entertainment and information.

I am not a fan of McDonald’s food, or their company much. But they nailed it with this ad creative. It combines the current event of Coachella with the star power of Kylie Jenner, wrapped in a Selfie/Instagram style photo. The breakfast sandwich is part of the mood and landscape, and it honestly makes fans of Kylie or Coachella want to either jump into the photo or grab a McDs Egg McMuffin. In fact, if you scroll through McD’s Twitter feed, you will see that this ad creative by and FAR outperformed ALL of their other posts. Well played guys.

This one is great because it’s simple and cute. Target took a moment to join in on the fun of a national hashtag as well as throw in brand awareness with their bullseye pup. The result is a friendly brand reminder with a puppy. It’s not intrusive, it’s just cute.

I love so many things about this photo ad. It’s posted from Caitlyn Jenner’s Twitter account with one of her new MAC lipstick colors. The awesomeness of this photo as an ad creative is: it’s multi-faceted. It combines an image that is quick to process, her name on the cup (could be a Starbucks collab ad, too) with the lip print. This photo says SO much in a simple way that is again, not intrusive.

This is one (of many ads) that killed it so much that the Bagel Store in New York now has a waiting list for their rainbow bagels. It’s bright, colorful, tells the story and includes the bagel store signage in the background. The first thing they give you is the colorful photo, though.

This one is probably one of my favorites (and I’m not even a fan of Chevy). I am a fan of Price Ea, so when I saw him collaborating with Chevy, I had to click on it.  The content and his words are so inspiring that I literally was almost moved to misty.  Who cares if it’s pushing Chevy.  It was brilliant.

Got an interesting ad creative to share?  Send it my way, or leave a link in the comments section below.

Business

6 Reasons Why Your Customers Aren’t Responding

You have built your website and it’s awesome.  Your product photos are great, your prices are great, your services are great. You’re on Twitter, Instagram, LinkedIn, and Facebook. The Followers are trickling in.

Hell, maybe you are even getting decent traffic with minimal effort.

But nobody is really responding (i.e. buying, commenting, signing up, etc.).

You’re probably thinking, “What the heck is going on?”

In a previous post,  we learned the importance of Social Media Marketing and how it is your most important advertising and marketing platform. But for some who are just starting out, spending that kind of coin on marketing might not be an option.

So, this brings me to the reason for this post. What can YOU do to greatly increase your conversion rates?

I was on the Shopify forums yesterday, and ‘Why isn’t anyone buying?’ was the single most question asked by all of the shop owners. They post the link to their site and ask for constructive feedback from others. Many responders have good advice, but a lot of it was very much surface stuff.  

At the core of all successful marketing, I feel there has to be some kind of emotional connection established between brand and customer.

Five Questions to Ask Yourself

1. Are you providing anything worth sharing?

Overall, the products weren’t bad on the Shopify stores, and the websites looked fine. The one thing I did notice, however, was that most of these stores lacked sharable content (or most importantly, an emotional connection). Some of the products were cute, but it wasn’t enough for me to press the ‘buy’ or ‘share’ button.

One woman had an awesome sauce product.  I mean, literally, she produces homemade sauces.  But there was no blog, no recipes, no customer feedback assuring me that her sauces were in fact, awesome.  There was also no About page with a great story, no Bio with a photo, no ‘About the Company,’ nothing.

The product photos were very pretty, but there wasn’t a compelling enough story for me to be pulled in, to share with my Pinterest audience, or to feel a connection to her (because I just didn’t know who she was).

I get it, prepared foods that have never been tasted can be a hard sell online. Unless we’re talking about cookies. Cookies definitely sell online. Just ask this lady. 🙂

So, BIG question to ask is this: If you aren’t creating buzz, perhaps you can ask yourself what you can do to create more of that customer connection.

Research by Ipsos suggests people shopping with online sellers also want a personal connection. The best engagement means connecting with the real person behind the storefront. – Karl Wellman

2. Approach marketing from the Consumer point of view

When you find yourself at a new website you’ve never been to before, think about HOW you got there in the first place:

  1. Was it a referral from a trusted source: a Friend, relative, online influencer, website or celebrity
  2. Did you search for a specific item through Google search
  3. Was it a killer marketing ad you just had to click on (visuals matter)
  4. A catchy headline that hooked you in on Twitter, LinkedIn or Reddit
  5. A tantalizing photo on Pinterest of a decadent chocolate cake recipe
  6. Or, a photo of a chic outfit that’s amazing or cheap, and you either save it for later (Pinterest), or buy it right now if you go to their website.

Example Case Studies:

Screen Shot 2016-03-04 at 12.50.04 PM
This recipe was Pinned over 6,300 times
Screen Shot 2016-03-04 at 1.03.25 PM
This cardigan received over 245,000 pins. I guess a lot of women on Pinterest like this style of clothing!

Do you understand the organic value of shareable content?

People want to be a part of sharing helpful, interesting, funny, compelling or beautiful information. If you are not providing at least two of those things with your content or product, you probably won’t get the social media traction you’re seeking.

The first thing you should do as a business (or a blogger) is create rich content.  Show or tell the story of your product and how it benefits the world, speak to the world about what you know.  Your story can focus on beautiful photography, spiritual information, motivation, humor, awesome recipes, information, or videos. Whatever your platform is, the point is to create tools that make it easy for an audience to be engaged and then inspired enough to buy or share whatever it is you do.

When enough people are seeing you, and the value you offer, the sales will come.


3. Are You Thinking Like Your Customer?

Back to the previous paragraph on HOW you arrived at a new website; think about your perception once landed on that page.  As creators, it’s hard to look at our own website through the eyes of a stranger in a new place- which is exactly who your customer is when she lands on your page.

If you aren’t sure, ask for some feedback from a professional, or do a visual comparison of your site side-by-side to a website you shop at.

You can also find a new one you’ve never been to before and ask yourself: How you feel about it upon entering, What your initial thoughts are and Why.  Write down your thoughts and comments.

Do a side-by-side comparison with a similar competitor’s website and ask yourself:

  • What are they doing?
  • What do they have?
    and/or
  • What do they offer (that adds value) – that I am not currently doing?  

Be totally honest with yourself, because your honesty will only help you get to where you’re wanting to go.

Are you trying to align your brand in a ShopJeen space or an Anthropologie space?  If it’s the latter, consider a thorough walkthrough of Anthropologie and see how you can take their visual queues and replicate it to what you’re doing.

What You Can Do Differently

It could just mean making some minor changes. Perhaps something as much as a higher marketing budget, more effort on your part, more video content, more connecting with your audience, or a team to assist you. Maybe you need more social media ads, or something as simple as better photos, a more cohesive brand look, or even using a cleaner look or font on your website.

In the case of CupShe, as mentioned above, that one Pin receives tons of Pin shares for its products. Read: How to Create Killer Pins on Pinterest

Create More Customer Confidence with Social Proof

Trust is a key factor for new businesses building a customer base. In order to build trust, you have to either gather testimonials or make sales.  It’s like that weird scenario of how credit builds credit, but when you don’t have credit, you can’t get credit, etc.

CupShe.com appears to be a Shopify site.  Its overall look is clean and simple.  Its prices are dirt cheap and it’s product selections are pretty cute.  The company is most likely a foreign-based website, which is easy to figure out considering the pricing, products (I have seen these same products from a lot of vendors overseas), and grammatical errors. But my overall first impression is a good one. I don’t know who this company is but the website looks professional. I can see there are tons of good reviews so it must be OK. My brain ticks “trust” and so I browse a little.

With just that little bit of assurance, I am more inclined to buy from an unknown place. It also doesn’t hurt that the prices are cheap, so I am not risking too much.

You might have to consider giving some things away at first to build credit, so to speak. This is where influencer/blogger outreach can come in handy.

4. Do you know who your (target) customer is?

Do you know who your audience is?  If so, are you speaking their language?
Are you creating products that they want, in prices they understand and marketing on platforms with the visuals they see while speaking the language they understand?  It’s a lot to think about but if you give it enough thought, you can connect the dots and make sense of it.  For example, I worked for a company in 2011 who was still producing products for their 1990 customer but hoping to target the Millennials.  Their products and marketing strategies were not only speaking another language, but they weren’t even in the same hangouts with who they wanted to reach. Their audience was the 1998 girls who grew up to be the 2011 moms. So as a result, their message was very unclear, and the collection was a convoluted mess.  If you don’t know who your audience is, how can you speak to them in their language?

Here are three great examples of brands who know who their customer is and know how to reach and engage them:

1. Wildfox.com  Wildfox is that SOCAL, vintage-inspired laid back brand for 20-somethings.  Most of its marketing efforts are on Instagram.  Why? Because that’s where their audience is. Their Instagram fan feed on their website is awesome

2. Justin Bieber  Yep, the YouTube music sensation.  He got into the hearts and homes everywhere with his YouTube Music Channel (The original channel has since been changed and moved to VEVO).  It’s where all the kids hang out, and it’s #1 audience interest is Music, followed by Gaming and Sports. Justin was able to reach his audience on a very personal level here.

3. Apple Apple is the prime example of a company who knew how to connect with their customer on a very personal level.  It doesn’t get much more personal than creating the iPod or your iPhone, does it?  They didn’t just create products, though, they created a culture that everyone wanted to be a part of.

Apple has a branding strategy that focuses on the emotions. The starting point is how an Apple product experience makes you feel. The Apple brand personality is about lifestyle; imagination; liberty regained; innovation; passion; hopes, dreams and aspirations; and power-to-the-people through technology.
MarketingMinds.com.au

5. Are you keeping up, visually?

The last question to ask yourself is are you using strong visuals? Strong visuals get you noticed, but you probably already know that. You know what makes you click on, ‘Like’ or share something. It’s not something we always consider, but it’s a crucial element in getting attention on social media.  Like everything, visuals on social media moves in trends.  Keeping up with those changing trends will keep your content fresh and relevant.  

Last and certainly not least:

6. Have you done an honest evaluation of your prices?

Are you priced too high without much solid value reasoning in your pricing strategy? If you’ve priced yourself too high, perhaps your customers don’t want to pay your prices. The price of an item is only worth what the market is willing to pay. And that price is only what people think it’s worth to them. This is where branding is valuable.

Branding your business Free Course
My Free Branding 101 Workshop will help you get clear on your brand

Consumers have info at their fingertips at any moment. And with our Amazon price model and globalization, competition has gotten fierce. Buyers can now shop around and find the best item from the best merchant (feedback is important) with the best service or convenience. What is it that you have that they can’t get elsewhere for less? If you’re pricing is too high to sustain your business, you need to think and act fast. Having NO sales coming in each day will put you in the RED. At the very least, you need to break even. Every day you aren’t making a sale you are losing money. Sticking to your guns on your pricing simply because you don’t want to sell for less is business suicide. Consider raising your prices when the demand for your product increases.

Last final note: Are you Following The Four P’s in Marketing which are Product, Packaging, Price, and Placement? If not, you may want to go back to the drawing board.

More Helpful Articles:
The Four Ps of Marketing
What is Influencer Outreach and How Do I Do it?