This week on the Marketing Update, Ellie Mirman and Andrew Quinn discuss simplicity trumping engagement in influencing sales, LinkedIn and Twitter breaking up, YouTube launching a video creation marketplace, Facebook making things easier?sort of, and TechCrunch not knowing how to fax.
Episode #208 - July 6, 2012
Is a Kiss Still Just a Kiss? Keep It Simple, Stupid.
? How to interact on Twitter: include #MktgUp in your tweet!
? On the show today is Ellie Mirman (@ellieeille) and Andrew Quinn (@andrewtquinn)
? As always, all the old episodes are in iTunes. If you like the show, please leave a 5-star review!
? Anyone is welcome to come by the show to watch as part of the live studio audience - 4pm Friday
Simplicity Trumps Engagement in Influencing Sales
? The IBM Institute for Business Value found that 60-65% of business leaders who believe that consumers follow their brands on social media sites because they want to be a part of a community. Only 25-30% of consumers agree. The top reason consumers follow a brand? To get discounts ? not exactly ideal for a company?s bottom line.
? On top of that, marketers are pushing out too much on social media, distracting consumers and causing people to overthink decisions.
? Corporate Executive Board (CEB) found that a 20% increase in Decision Simplicity results in a 96% increase in customer loyalty. It also results in brands being 86% more likely to be purchased and 115% more likely to be recommended to others.
? Decision Simplicity the #1 driver of likelihood to buy, but the impact of simplifying purchase decisions for consumers is 4x stronger than the strategy of engagement.
? Marketing Takeaway: Simplifying your marketing can have a great impact - increasing purchase rates and customer loyalty. Get back to basics and make it clear how and why consumers can buy your product.
LinkedIn and Twitter Break Up
? Earlier this week LinkedIn and Twitter ended their partnership that allowed users to sync updates from the two sites.
? You can no longer connect your accounts such that tweeting with #in or #li also posts your tweet to LinkedIn (but you can still post to both sites via LinkedIn).
? Hashtag #in has been tweeted 1,746,618 times while hashtag #li has been tweeted 192,873 times - #in on average is tweeted 9,650 times a day, while hashtag #li on average is tweeted 1,065 times a day.
? 23 comments to our blog post all positive - this reduces clutter in your LinkedIn news feed so the quality of the feed should get better
? Marketing Takeaway: The content should match the medium. LinkedIn is not Twitter. Posting the same content in both places might seem simple, but it actually makes it harder for folks reading the feed. Tailor your updates for your audience .
YouTube Launches Video Creation Marketplace
? YouTube announced they?re launching a Video Creation Marketplace - a place to connect video creators/stars with marketers/agencies
? Partners (content creators) can create profiles about what they do, past successes, demographics/types of brands they work with
? Advertisers/agencies will be able to search by parameters such as content type, target demographic, other keywords
? Particularly targeted to small businesses - because this has already been happening ad hoc among big brands
? Marketing Takeaway: The modern day celebrities are YouTube stars - and they might be more accessible than the big names you?re used to seeing in ads. Think about the different resources available to you and use them!
Facebook Make Things Easier...Sort Of
? Facebook repackaged a feature called 'Voice' that allows page administrators to easily engage on their page as themselves.
? The 'Voice' feature allows admins to easily toggle between using their brand page as their brand page, or as their personal Facebook profile.
? This isn't really new, but Facebook just made it much simpler for Marketers to control the ?voice? of their business pages.
? Marketing Takeaway: As the world gets more and more complicated what are you doing to make things a little easier for your customers, your users, you members. Review how your customers, users and members use your product or service and look for ways to make their lives easier.
TechCrunch Doesn?t Know How to Fax; HelloFax Responds
? TechCrunch blogger got an offer from Vanity Fair to get a preview of a new story - she jumped on it and asked to