Below you will find three Marketing Communications (Marcom) headlines that caught my attention last week. If you’re a small business, they should peak your interest too. The respective articles provide a wealth of insight and cover the importance and influence of – in no particular order – mobile marketing, millennials and marketing plans. And if that’s not reason enough, I’ve listed my top 15 takeaways to help you put your small business marketing resources (focus, time, labor, and budget) into perspective.
The Dangerous Data Leak That Is Costing Marketers Their Jobs (And How to Fix It)
Overview and Takeaways
The ability to prove marketing value is important for job security — And it’s even more critical for campaign optimization. But we can’t do this if we are unable to properly attribute the leads that our campaigns are generating. So, how do we take credit for all of the leads that we are bringing in, increase ROI and demonstrate marketing value? Most marketers can get pretty fanatical about monitoring their web analytics data. …Clicks are important – But what about phone calls? Phone calls as a lead source are something that the modern marketer can no longer ignore — especially when you consider the breakneck rise of mobile search. The device in every prospect’s pocket has changed their search behavior, intent and expectations.
T1: According to BIA/Kelsey, phone calls are considered to be the most valuable lead source by 86% of business.
T2: 70% of mobile searchers call businesses directly from search results.
T3: And approximately 29% of phone calls result in a conversion.
T4: Smartphones have not only transformed the way consumers access their information, they have also impacted the way that they connect with businesses. Mobile search has a much higher likelihood of triggering users to take action and this action is usually a phone call.
T5: Last year, mobile searches surpassed their desktop counterparts for the first time.
T6: Annual calls to businesses from smartphones are projected to hit 162 billion by 2019 — compared to 77 billion in 2014.
T7: According to a report from eMarketer, 85.9% of digital ad search dollars will go toward mobile by 2018.
T8: If you want to take advantage of this trend, it’s critical to understand how mobile drives conversions. Follow-up actions on mobile devices have a tendency to happen very quickly. In fact, 55% of conversions (store visit, phone call or purchase) take place within an hour.
Read the full article at blog.kissmetrics.com.
How to Reach Millennials
Overview and Takeaways
Millennials are a unique (and sarcastic) breed of creative, idealistic, and connected individuals who like to rally together to create more meaning in the world. According to Epsilon, we seek brands that can offer it all: experience, authenticity, and social responsibility. Even better if it’s a good value. And we’re willing to spend money on brands who achieve all the things (we do want all the things and believe we can have it).
T9: According to Adage.com, Millennials or Gen Y will spend more than $200 billion annually starting in 2017, and $10 trillion in their lifetimes.
T10: According to Crowdtap, when you deliver all three [Time, Trust, Memorability] of these aspects in your marketing, you’ll become more influential with Millenials’ product choices and purchase decisions than traditional media.
T11: Mobile is the main screen. … According to Nielson, Millennials are the largest segment of smartphone owners. … Millennials don’t just want brands to be on top of their mobile game – they expect it. Mobile is their primary screen, and they want brands to understand (and respect) how they consume their information. … you’ll want to “think multi-screen, but build for mobile.”
T12: Cause marketing is evolving in exciting and fun ways, and the brands who are getting on board with this trend are the ones who understand the importance of social impact. According to a study done by Cone Communications, 89% of Americans are willing to switch brands in order to support a cause. This means that if you’re a publishing company today, you’ll want to prove your commitment to your cause.
Read the full article at jessicaannmedia.com.
Use These 5 Steps to Create a Marketing Plan
Overview and Takeaways
Unlike a business plan, a marketing plan focuses on winning and keeping customers; it’s strategic and includes numbers, facts and objectives. A good marketing plan spells out all the tools and tactics you’ll use to achieve your sales goals. It’s your plan of action—what you’ll sell, who’ll want to buy it and the tactics you’ll use to generate leads that result in sales. And unless you’re using your marketing plan to help you gain funding, it doesn’t have to be lengthy or beautifully written. Use bulleted sections, and get right to the point.
T13: Positioning your product involves two steps. First, you need to analyze your product’s features and decide how they distinguish your product from its competitors. Second, decide what type of buyer is most likely to purchase your product.
T14: Develop a simple, one-paragraph profile of your prospective customer… No matter who your target audience is, be sure to narrowly define them in this section, because it will be your guide as you plan your media and public relations campaigns.
T15: You’ll need to devote a percentage of projected gross sales to your annual marketing budget. Of course, when starting a business, this may mean using newly acquired funding, borrowing or self-financing. Just bear this in mind—marketing is absolutely essential to the success of your business. And with so many different kinds of tactics available for reaching out to every conceivable audience niche, there’s a mix to fit even the tightest budget.
Read the full article at Entrepreneur.com.
What MarCom articles caught your attention last week? What implications do they provide for small business marketers? Feel free to share in the comments section of this post.
GB O’Brien
LGK Principal
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