Hail the power of sharing!
Not so much the “sharing is caring” moral science lesson we all got as kids…but that small share button by the corner of everything you read and watch online. A one click reach to all the watchful eyes who are ever so keen to know what you are up to!
Honestly I am not much of a sharer because I tend to apply a lot of filters to what is good/bad/interesting/politically correct about a post and by the time I am done contemplating the subject…its too late. But you can still appreciate the power of the share button being on the receiving end of it. Everyday I come across such amazing reads, updates and happenings around the world about something as random as walnuts and as specific as my interests. So while I am still sticking to the long checklist of do’s and dont’s before sharing something online (which btw is a good topic for a blog), here’s a good read on content marketing that a connection shared on LinkedIn.
Content Marketing in 2022: Very Personal, No Silos, and Lots of Voice
Where do you see yourself in five years?
Do you hate that question as much as I do? While I’m not a fan (perhaps because I’ve never had a great answer), I understand why it’s asked. The interviewer wants to know that the job candidate has considered the short-term future and wants to see how the candidate’s potential path for success fits with the company’s.
With a professional twist, we asked the experts presenting at Content Marketing World what they see in the next five years as the biggest changes in content marketing. This isn’t a list of predicted tech advances or outlandish guesses – it’s practical and proactive. You could take one or all 25 and begin working on them today (if you’re not already) – to plan strategically for short- and long-term success.
We’ve segregated the answers based on the five emerging themes – personalization, formats, implementation, voice-activation, and data.
doing my bit of sharing 🙂
Reading ‘Blue Ocean Strategy’ by W. Chan Kim & Renee Mauborgne. My first attempt at reading this book was during my MBA days because it falls under the “must read” category for all business students. But then we had a project submission…you know what i mean (wink wink). I feel NOW is the right time for me to read this book because what i learn will not end up in a hefty answer sheet…it will be used in the current business environment!
I couldn’t agree more with the authors about the over emphasis on beat the competition strategy by companies who are trapped in the red ocean. No wonder the first few slides of all my presentations are competitor analysis. I am not saying that don’t keep an eye on your competition, their products, pricing and marketing approach but it is not exciting anymore to just up your game (enough to beat the competition) on the relative scale. Obviously the plan is not going to work for a very long time because your competition has been watching you all this while and planning their next move.
I understand the momentary sense of victory that teams and companies experience when they see sales rising by percentage points in comparison to the former market leaders but is that real victory?! consumers today are not the loyal kind, they are mindful explorers who hustle through the supermarket rows to find the right stuff for them. Offers excite them, discounts please them and yes don’t forget the service that follows.
So what then?
That’s what this book is about…
- Make competition irrelevant
- Create a leap in value for the customer
- Open new & uncontested market space
Sounds good but…Howzat??
Innovation is a buzzword these days and companies are trying hard to foray into this domain and join the “tech-forward” bandwagon. Interestingly, innovation cuts across business units and verticals in an organization. Production and storage innovation for instance can uplift a company’s operations but the consumer does not directly benefit from it. Also, technology innovations that are way ahead of its time and cost a fortune do not create value for customers.
Value Innovation is a critical strategy that aligns innovation with utility, price and cost positions to allow focus on both differentiation and low cost. The diagram above speaks volume and explains the concept beautifully. So next time I am surely going to include a slide on value innovation for my clients who are seeking strategies to grow their business and come out of the bloody red ocean.
what do you think?
It is interesting to see the transition in “intelligent marketing” norms. Big data, a few years ago, was all about collecting information wherein the efforts were directed towards identifying each of your existing and potential consumers. While it certainly sharpened the consumer segmentation and targeting, but pasting the same marketing content to all does no justice to the rich collection of data. It is now that we have started to mold the marketing contents, product offerings and communication patterns to closely align it with what they do. It is almost like a democratic form of marketing with all the right prepositions connecting “people” and what we call people based marketing.
Came across this article on use of big data for reaching the right people at the right time, and what people based marketing does NOT mean. So here is the link to the article under good reads category:
A market place is a fine example of potential transactions but with asymmetric information. It simply means that the information available to buyers is different or mostly insufficient than the information available to the sellers. The general perception about this gap would be that it’ll insinuate purchase reluctance in buyers if the sellers don’t bridge this information gap. But for this to happen, the customer needs to be aware of the information deficiency which more than often never happens! However, it is interesting to see how this “unexploited value” gives buyers and sellers an incentive to capture that value. And this my friends is the genesis of Marketing Signaling and Screening…a power foreplay of buyers and sellers that had influenced product sales ones but now has changed gears.
Sellers with high quality products need ways to signal the quality of their products so that buyers can distinguish between high-quality and low-quality products. Before we consider this ideal situation, it’s important to realize that there are no fair rules in marketing. A seller would very much want to signal the high product/service qualities but what if it has none? well…the seller can still promise all the big stuff quality and features which for the time being only he knows isn’t true. Buyers must find ways to screen out erroneous information but allow in truthful information. This may not seem very relevant for products which can be easily evaluated or are low involvement like vegetables, soaps but think about the time when you bought a new refrigerator or an air conditioner.
Traditional form of marketing is highly Signaling driven. Remember the print Ads and television commercials which bragged about their product features and how they are the best in the market. They had everything in it for you to believe them and we did!
It was partly because the product value proposition mirrored consumer needs but for most of the time it was because just a one way communication. There was no way the company would answer an individual’s concern before buying that product and so we felt…may be they are right. The scope of screening was very less unless the company salesmen were at your door step to demonstrate or give eye popping warranty for it.
In today’s marketing scenario, with the advent of social media marketing the play field has been leveled for both the players. Social media marketing has helped in completing the communication cycle by including the buyers in every step of the transaction (information and goods). Today the companies on social media platforms cannot just get away with false claims and product featuring. In no time the customer can track them down and inquire about what ever is in their mind out in the open. The ball now is in the seller’s court and they are bound to respond to the query or comment. If they don’t…customer has successfully screened them out and if they can survive the screening the customer gets the best bet. All in all customer has emerged as the powerful end of this marketing evolution and it is expected out of the customer to make the most out of it.
Wooing your target customer has become more and more challenging in the cluttered market but there are also new ways to reach out to them. Brands have moved on from selling products to providing solutions to their consumers, and in this ‘solve my problem’ game trust is the cornerstone. So who would you trust to fix your precious car, or reduce the peeking fine lines on your beautiful face??
Who are they? Anyone, I repeat, anyone who holds a strong opinion (positive or negative or neutral) about anything (that could be sold) and is capable of influencing your opinion about that thing!
I know it sounds complicated but trust me its not. trust me.
Let’s start with very simple examples to under the influencer concept. I was a very inquisitive child and would ask endless questions to my mom about everything possible. I had no idea then that the answers will continue to teach me things even today. Well I once asked her…why did you choose this school for me?! and she said that NEIGHBORS say it one of the best in the town. I hated drinking a glass full of milk and would ask her everyday…Why do i need to drink it? and she replied DOCTORS say it is good for your bones.
You guessed it…our neighbors, doctors, family, friends and even a storekeeper influence our decisions (very important decisions) everyday. So for people who think influencer marketing is the “in-thing” na-ah…
But yes, influencer marketing has become rather important and relevant in this digital age. That’s a given because today everyone is all eyes and ears 24*7 on n number of platforms just to know your opinion! so why not make them share an opinion about your product/service.
sharing this good read that has all the basics covered :
We always try to read about what to do, how to do it and how much more to do it!! I am talking about marketing btw.
But the evolving landscape of marketing channels, particularly social media, has challenged the cookie cutter marketing strategies that we all have learned and assume as the marketing holy grail. May be it’s time to unlearn some of them…
Here’s a very good blog that talks about: Weird Social Media Habits that’s gotta stop!
On of the points which i want to especially highlight here is as follows:
#4 – Focusing Only On YOURSELF
What do you think the purpose of social media is for brands? Is it solely to provide updates about everything happening at your company? Or, is it to help your followers solve their problems, open the door to conversations and provide helpful resources to begin building credibility?
I hope that the answer is obvious. If a brand is using social media platforms as a means to only push out content about the happenings at their company, they’re doing it wrong. Social media presents a unique and more personal opportunity to interact with your followers. Utilize this opportunity to the fullest by uncovering what your followers care about and providing them with insight on those items, and asking them enticing questions to gain their opinions as well.
Been there done that and it has to stop. If you are following your telecom service provider on twitter, I am sure it is because you think it’s a real time deal to get their support. Sure, they won the best service provider award this year…yay! but you don’t want to see another award winning post when you are stuck with a bad service. That’s like pushing the wrong buttons e.g <Enter> after a hate message.