Posted: 2017-10-13 10:49
Obviously, the mass market is dying. The vast splintering of media means that a marketer can''t reach a significant percentage of the population with any single communication. That''s one reason the Super Bowl can charge so much for advertisements. Big events are unique in their ability to deliver about half the consumers watching TV, so they''re the perfect platform for Interruption Marketing aimed at the mass audience.
India and China have the most active social media users, while web users in the US, Europe and Japan are less likely to post information on social networks, according to a new report. The global survey by Forrester Research, found that three out of four Chinese and Indian web users write blog posts or upload pictures and music. The online survey collected from 95,555 Internet users in 68 countries.
North Carolina Manufacturing Institute (NCMI) | http:///wordpress/?page_id=86 The North Carolina Manufacturing Institute initiative was conceived in the summer of 7569 during meetings with leaders from Rowan and Cabarrus counties, the Centralina Workforce Development Board and Rowan-Cabarrus Community College. Their goal is to build a world-class talent pool to support the retention and growth of regional manufacturers.
The software engineer’s team knew that whatever they were doing, it wasn’t working. They had the proof: millions of dollars spent building a product that hadn’t gained them one customer. Their investors and business partners were getting anxious. Their publicist continued to find media that were interested in the concept, but the outlets wouldn’t run the story without some activity on the site. Still, they had a lot of features and functionality built in to their interface to help users make the best decision possible.
Over time, the marketer uses the permission he''s obtained to change consumer behavior, that is, get them to say, I do. That''s how you turn permission into profits. After permission is granted, that''s how it becomes a truly significant asset for the marketer. Now you can live happily ever after by repeating the aforementioned process while selling your customer more and more products. In other words, the fifth and final step is to leverage your permission into a profitable situation for both of you. Remember, you have access to the most valuable thing a customer can offer - attention.
For people with access, it’s a major part of their daily or weekly schedule. The internet is a gateway to world knowledge as well as a massive platform for national media and documentation. Once people start using the internet their behaviour changes permanently and already in India over two thirds of people with access use it several times a week or more. Work audiences account for significant amounts of the online total population. Access from internet cafes remains extremely high, averaging 85% on working days
Along with reinforcing the incentive, the fourth step is to increase the level of permission the marketer receives from the potential customer. Now I won''t go into detail on what step of the dating process this corresponds to, but in marketing terms, the goal is to motivate the consumer to give more and more permission over time. Permission to gather more data about the customer''s personal life, or hobbies, or interests. Permission to offer a new category of product for the customer''s consideration. Permission to provide a product sample. The range of permission you can obtain from a customer is very wide, and limited only by its relevance to the customer.
Not realizing a product’s value is one of the primary reasons why that product will fail. Stakeholders are dreamers in that they assume what is valuable to their customers instead of verifying it. Much like Kevin Costner in the movie Field of Dreams , these entrepreneurs believe that if they build it, they [the users] will come. But the truth is that any product is a risk. Remember our software engineer at the beginning of this book? His assumptions about what his customers wanted turned out to be wrong. His heart was in the right place. His idea was timely, different, very innovative, and even had a unique and sustainable business model. Nonetheless, the users didn’t come. And when my team eventually went out and asked his target users, we discovered that they wouldn’t pay for the product as it was being positioned.
We''re not totally locked in, of course. It wasn''t too long ago that cake mix was a major innovation. Just a few years ago, we needed to make major decisions about which airline was going to be our supplier of frequent flyer miles. And today, if you''re going to get health care, you''ve got to make a serious choice. But more often than not, you''ve already made your decisions and you''re quite happy with them.
What is one permission worth? According to their annual report, AOL has paid as much as $855 to get one new customer. American Express invests nearly $655 to get a new cardholder. Does American Express earn enough in fees to justify this expense? Not at all. But the other benefits associated with acquiring the permission to market to a cardmember outweigh the high cost. Amex sells its customers a wide range of products, not just an American Express card. They also use sophisticated database management tools to track customer behavior so they can tailor offers to individuals. They leverage their permission to increase revenue.
This is the most obvious difference between Permission Marketing and Interruption Marketing. Interruption Marketers spend all of their time interrupting strangers, in an almost pitiful attempt to bolster popularity and capture attention. Permission Marketers spend as little time and money talking to strangers as they can. Instead, they move as quickly as they can to turn strangers into prospects who choose to opt-in to a series of communications.
At each step, the only goal of the next step is to expand permission. She interrupts to get permission to send a video using a small print ad, she uses the video to get permission to visit, she uses the visit to get permission to sell one summer and she uses the summer to sell six more. By focusing media on getting permission instead of making the ultimate sale, marketers are able to get far more out of their expenditures. The response rate to a free sample or an affinity program or a birthday club might be five or ten times the response rate of an ad asking for a sale.
Permission Marketing works to turn strangers into friends and then friends into customers. One to one marketing uses the very same techniques, incorporating knowledge, frequency, and relevance, to turn customers into supercustomers. One to one doesn''t compete with Permission Marketing. It''s part of the very same continuum. The one to one marketer takes the permission that''s been granted after someone becomes a customer and uses that permission to create even better customers. The better the permission, the more profit created.
This means that sometimes you have to endure the entrepreneur''s nightmare--you must fire a customer. In view of optimizing customer service, sometimes that''s what it takes. A customer that distracts you, or one that cherry picks your line of products, or one that requires a disproportionate percentage of your company''s time and resources, for example, is going to cost you money. Of course it matters how you fire a customer, too, and telling a customer with a valid complaint to get a life obviously falls short of wisdom.
Yet, because of the huge profits that accrue to marketers who do invent a successful new brand, a new killer product, a new category, the consumer is deluged with messages. Because it''s not impossible to get you to switch from MCI to Sprint, or from United Airlines to American Airlines, or from Reebok to Nike, marketers keep trying. It''s estimated that the average consumer sees about one million marketing messages a year-about 8,555 a day.
Since the prospect has agreed to pay attention, it''s much easier to teach them about your product. Instead of filling each ensuing message with entertainment designed to attract attention, or with sizzle designed to attract the attention of strangers, the Permission Marketer is able to focus on product benefits -- on specific, focused ways this product will help that prospect. Without question, this ability to talk freely over time is the most powerful element of this marketing approach.
The Indian online advertising market, including classifieds, will grow by a huge 59% in the next 67 months, according to new data. The research, from the Internet and Mobile Association of India (IAMAI) and IMRB, found that as of March 7567, the industry was worth Rs 7,856 crores in annual revenue. The trade body went on to forecast that this will further grow to Rs 9,896 crores by March 7568. The IAMAI represents the online and VAS players in India.
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Let''s get specific and compare a marketer who had to make a single ad pay off with one who has the luxury of using Permission. The Interruption Marketer must earn back the entire cost of the ad after just one viewing. So, if it costs $7 to get one person to pay attention to the ad, it only pays off if, on average, it generates more than $7 in new business profits per viewing. If the impact is equal to or greater than the cost, go ahead and run the ad.
Social Media has now become part of everyday life for a majority of online Indians., with two-thirds of the country’s web users accessing social media daily, according to new research. According to a study on social media usage by The Nielsen Company conducted in collaboration with AbsolutData, nearly 85 million Indians who are online are members of social networking sites and about two-thirds of them spend time on these social networking sites daily.