The in-store decision rate is calculated by taking the sum of the purchases that fall under Generally Planned, Unplanned, and Substitutes categories. Today the in-store decision rate has reached an all time high of 76%.Shoppers are specifically planning less and deciding more at the shelf, suggesting today’s shopper is more flexible than ever. And you thought social media was driving their purchase decisions…
Earlier last week I was contacted by a large consumer products company with a problem. It seems they had hired “a social media expert” to help them develop and launch their social media marketing but now that ship was adrift and was getting pounded by the rocks under the waves. Not only was it poorly executed but what they had done so far was costing them business. Their social media “expert” was hit and run. He told them what to do but not how to do it within THEIR culture and industry.
There are no shortcuts when it comes to building a great online branded website. Today’s consumers don’t just question, they challenge and flat out reject the irrelevant, unnecessary, and insulting advertising and marketing that most marketers seem to take for granted. If you try and save money by having a graphics person develop a website you’re going to pay the price in high bounce rates and unread content. Here is how to develop a great branded website.
Along with popularity of social media a number of social media analytic providers are trying to sell marketers on their programs that are usually accessed via the Web. However these programs can’t quantify human interactions with brands nor can they really tell you what consumers are thinking about your brand and company. Analytics can only take you so far you really need someone who can look beyond the numbers to provide valuable insights and actionable recommendations to improve the brand experience.
73% of CEOs think Marketers lack business credibility and are not the business growth generators they should be: they are still too far from being able to demonstrate how the cross-channel marketing strategies and campaigns they deploy grow their organizations top line in terms of more customer demand, more sales, more prospects, more conversions or more market share.
According to USA Today “While more men program and develop the social media universe, women are setting the conversational tone, according to a new study. Instead of dotting “I”s with little hearts or smiley faces, on social media women are using highly expressive language, emoticons and other emotional cues”. In short women communicate to express feelings men communicate, well, to communicate. This is why women rule social media.
When it comes to social media too many brands have not learned the lessong that a hundred fully engaged fans are better than a thousand unengaged fans. The key to a successful fan page is to have fun with it. Start conversations. Be a resource for people. And most importantly, focus on the fans. It’s a privilege to have them.
The benefits of differentiation have been overstated. Instead of wanting something unique or even a cutting edge product, most customers simply want a quality product at a fair price which does what it promises consistently well. Therefore, to prosper, don’t obsess over trivial points of difference, gimmicks, branding or outside-the-box thinking. Instead, do the basics well. Get close to your customers, understand what matters most to them and then deliver that better than your competition.