What does “Value” mean to you?

So, a couple of weeks ago I wrote about my adventures in China and the marketing insight I discovered whilst on the trip. Have a read of my previous post to understand my marketing insight!

Value. What does value mean to you?

I propose this question to you because it’s completely subjective for everyone. Value can mean quality, price, quantity, weight, packaging, and/or 50 cents. Value is completely whatever you want it to be. However, value does change depending on the purchase you make, right?

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Value, to me, is what I can get out of the product or service. As a consumer, I want to get the most out of whatever it is I’m buying. Otherwise, I feel as though I’ve wasted my money on something that isn’t going to serve its purpose or know that I could have spent less money on a different brand for the same thing.

Take these two items below for example. Let’s call the left image Brand A and the right image Brand B.

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Picture you’re a customer, strolling through the shops looking to buy some new tupperware for your home. You get to the tupperware section of the store and find these two options on the shelf side by side. Both products are the same price, have the same function, and let’s pretend that both products offer the same amount of containers. You analyse the products by touch, sight, smell. You think about what uses both brands offer you in terms of how you store your food. You create a mental pros and cons list, whilst standing in the shopping aisle. Surely, you’ve been in a situation like this before?

So, where does value come into play in this scenario?

Value comes into play when you start to analyse both brand in terms of its ability to meet your needs. For example, my need could be that I want to be able to see all my food in the container therefore the colour of the box must be transparent. From the photos above, Brand A is more likely my choice because I value being able to see my food through the box instead of opening the lid.

I know this post is short but I am so swamped with university. It is insane.

Please tell me what your thoughts are of the concept of “value” in terms of marketing! I would love to read your thoughts and hear some feedback.

Until next time, give this post a like and leave a comment!

 

 

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Location-Based Marketing

As some of you may know, I’m currently participating in the Google Online Marketing Challenge. If you’re not aware of what that is, it’s a competition where a small team (3 – 6 people) work with a small business to create search advertisements on Google (and related sites) using AdWords.

One of the great things about marketing is that when it comes down to your target audience you can be specific and target particular groups of people. Whether it’s age, gender, education level or income etc, there are lots to choose from when it comes to the consumer’s demographics.

Although demographics are good to think about and target, have you ever thought about where those consumers are from? Do they share a similar location? Are they all coming from the same suburb? Now, I’m not looking at just countries of consumers. I’m talking about a more specific location. Right down to the post code and suburb of consumers.

I mentioned the Google Online Marketing Challenge because when using AdWords, there’s an option called “Location Targeting“. What this means is, you can choose where your ads will appear depending on the location of where it has been searched.

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Now, don’t ask me “How does Google know where I am” or “How does it appear and not appear depending on my location” or “Will the ads appear and then not appear if I jump in and out of the location radius”. Look, I don’t know the technical details but I know why it’s a marketing tactic that can be useful.

Let me give you an example so that it makes more sense. The small business my team and I are working with is called “Company A”. When looking at Facebook metrics and data, we discovered that Company A had a lot of consumers searching their Facebook page in Fitzroy, Collingwood and Northcote.

Now, let’s say that Company A wanted to boost brand awareness to consumers living in these locations and create advertisements that would help improve foot traffic in store. What you can do, by using AdWords, is choose specific locations so that ads will only show in those places. That is, you can choose to have ads show in Fitzroy, Collingwood and Northcote only. Therefore, the advertisements will only show if consumers search particular keywords within these suburbs. How cool is that?

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Now, here’s another example. Say that, Company A knows that Fitzroy, Collingwood and Northcote are where most of their customers are coming from but want to boost awareness to other suburbs near these suburbs too. What you can do (using AdWords) is choose where your ads show within a radius. That is, you can choose how wide of a radius from a particular location – 10km+ Fitzroy or 20k+ Fitzroy. Through this, you can also exclude particular suburbs that fall within the radius you’ve set. This way, your ads will show to only places you want them to and not to irrelevant locations.

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Hopefully my post so far has demonstrated how location target marketing can be useful. However if you’re still confused… How can location-target marketing help marketers engage with consumers?

  • Demographics can be difficult to figure out

It can be difficult for some businesses to target particular demographics if they don’t have the right resources to understand who they want to target. For example, if Company A wanted to target specifically young men who like buying ethically made clothing, it can be difficult to just target those consumers using search advertisements. With location targeting, it makes things a bit easier because you can observe where these type of consumers are from thus show your advertisements based on where they are.

  • Delivering targeted messages

When using location targeted marketing, Company A can deliver messages to those around the area (whether or not they are part of their target market) and thus boost their brand awareness. By having a broader area to target, Company A can offer insightful messages about their brand across all demographics instead of just one.

  • Two birds, one stone

Say Company A discovered that consumers were looking at their website on mobile devices in Fitzroy. By using location targeting (with AdWords), Company A can make sure their advertisements are mobile optimised and target Fitzroy so that the consumers searching for keywords related to Company A’s brand can see their ads. It’s a two birds, one stone kind of thing.

I hope this has given an insight into why location targeted marketing can be useful!

Until next time, leave a comment below and give this post a like!

Let’s get down to business

Welcome to the world where everything means business. Well not everything, but you know what I mean!

Instagram has changed the dynamic of their company by adding a “business” component. This allows consumers to use their platform to promote their brand online. How cool is that?

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Let’s start by looking at how Instagram’s business component has innovated digital marketing. This app has become an amazing way to boost brand awareness and an effective way for building a brand’s image.

In this generation, we are constantly needing to be relevant and up-to-date. Instagram is the perfect platform place to do this because you can use it to check out the latest trends, check out what your friends are doing, stalk your SO, and even stalk that one girl you have a problem with even though you’ve never met her.

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According to Forrester, Instagram has a rate of 4.21 % follower engagement. This means that Instagram is generating more engagement per follower than Facebook by 58 times. It is also generating more than Twitter by 120 times.

So as a digital marketer, what does this mean for us?

It has opened a gateway for ordinary people to advertise themselves as a brand. Big brands and companies are sponsoring ordinary people with lots of followers on Facebook and/or Instagram to advertise their products/services.

Now, I know this is nothing new. We’ve all seen “instafamous” people and YouTubers advertising products or services online. My point is that these social media platforms have adapted. They have given us all an opportunity to advertise online in the most simplest way.

For example, if you go onto your Instagram account (if you have one) and click onto “Settings”, scroll down to the “Account” section, and you’ll see an option called “Switch to Business Profile”. This allows anyone to switch their Instagram profile, from an ordinary account, to a business account. Take a look at what it looks like below.

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So, how do ordinary people use Instagram Business?

Well, it’s really quite simple. But like all things it takes time, A/B testing, playing around with, or even just researching strategies to use. But here are some key things that I think you should take a look at if you’re thinking of branding yourself on Instagram.

  1. What’s your strategy? What makes you unique? Or not unique?
  • What I’m referring to here is, what’s the purpose of you using Instagram business. It’s important to have a clear understanding of your goals, motives and mission statement before doing anything else. The most important thing with Instagram is consistency. Without consistency, you risk looking sloppy, unprofessional and even unorganised. So, clearly layout how often you’ll post, what time of day, and choose a theme for your account.
  1. Who are you?
  • You need to discover who you are in every way. Go out and learn something new. Go out and try something new. Do something that makes you feel special and original and then post a bunch of photos about it on your account.

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  • I’m just kidding! You can do these things if you wanted to but really, what you need is to build a brand identity. If your brand identity is to be you, then be you! If it’s to be a fitspo model, then start working out. If it’s to become the next big foodie, then start taking photos of all your meals. Whatever it may be, be sure it’s what you want to do and stick to it. It’d be confusing to your followers if you had a bunch of different things going on.
  1. The Engagement Party
  • You’ve got to engage with your audience! Reply to comments you receive, like photos back, or even follow people back! It’s important to take on all opportunities and really make the most out of your experience on social media. Stay relevant by keeping yourself updated with who you follow (and maybe even your competitors).

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  1. Don’t be afraid to make mistakes 
  • Making mistakes is part of the whole process. If you don’t like a photo you’ve uploaded, delete it and re-upload a new one. If you’ve spelt something wrong in your caption, re-upload the photo with the right caption but be sure to sign “edit” otherwise you might get called out.

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These are some of my own tips just from using Instagram myself. Hootsuite has some excellent tips and guides for beginners using Instagram Business. Check them out and get down to business!

Until next time, click this post to leave a comment and give this post a like!

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