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Is Facebook Costing You Money?

As an employer your goal is to increase productivity of your employees so that you can make more money – but will blocking Facebook really make that big of a difference? Social media isn’t the biggest time waster – says Recruiter.com – it’s computer glitches that rein number one! So, before you decide to eliminate access to Facebook you may want to check that your actual computer programs are running at top speed! For full article http://www.recruiter.com/i/facebook-isnt-the-worst-time-waster/

Kari Russell
Recruitment Associate
647.799.1164
kari.zenpeak@gmail.com

facebook pages can replace a blog or website for marketers

Its true.

If you are in the game of registering people and collecting their emails, setup a facebook page and direct your traffic to it. No worries, people don’t have to be signed up at facebook to see your page OR TO ENTER THEIR DATA!

I discovered this by accident when I have been unable to get into FB this am. and popped one of my pages.

Then it dawned on me… some folks don’t need a microsite or blog unless they are restricting access pending a registration.

OK so maybe its not for everyone but a useful tool.

Target Marketing using Facebook Pages

Can you use Facebook pages for target marketing?

Facebook pages have been out for a month or two. I have two fan pages; one for Frank Sinatra and another for Stevie Ray Vaughan. Both pages have music that I love. Fans can listen but can’t copy the tunes (which I paid for).

Facebook provides information on who your page fans are. For example you get stats on daily traffic; unique visitors, page views and stats on usage of FB apps in the page. You also get stats on fan sex and age.

So here is what I have learned about my  two fan pages.

Fs

The Frank Sinatra page  has over 500 fans and they are split 45% female 55% male, with 55% of fans between ages 18 to 24! That surprised me! and another 21% between ages 25 and 34.

Only 7% of Sinatra page fans are above age 35! If you assume that Frank Sinatra has timeless popularity, I would guess this reflects the age distribution of Facebook.

Srv_2

The Stevie Ray Vaughan page has been up a week and has 87 fans.   This page skews heavily to male with 93% male and 7 % female fans. The age distribution is a little older with 17% above 35 years of age, and 66% between 18 and 35 (vs. 76%  for the Frank Sinatra fan page)

By looking at the networks of the fans you can also get a geographic metric – for example, my Frank Sinatra page has a lot of  fans from Turkey. (this you have to do  on your own – not a facebook stat)

Here is the point. If you want to drive traffic to your facebook page, and from there have a "call to action" on the web etc. – you will know about your present Facebook page fan base, and you can use Facebook advertising to target your advertising.

Dude… you’re getting better service from DELL

Last night, I listened to the Dell folks at the local Tuesday event, describing how they jumped into emergency blog action for damage control when the SONY battery in their notebooks blew up in summer 2006, and bloggers posted nasty on them, for that, and broad service issues.

Its a constructive social networking case study of a big company, being responsive in dealing with squeaky wheels and bad press. The Dell website traffic numbers after the Aug. 2006 event, show that the web is the critical service information channel.

IMO when someone has a bully pulpit, in any media, and is unfair and unbalanced, lets first give the consumer some credit for their intelligence and fairness, present the facts, ask for forgiveness, and get to the heart of solving problems. Thats what Dell did with bundles of transparency and quick action.

Dude… you got some good service from DELL!

Other companies should follow suit and not wait for disasters or lousy service to erode their business.

BTW…Ask me about how in my mind, Apple ripped me off in the 1990s for $13,000. in royalty profits from my CD-ROM "Search for Ancient Wisdom"  that was in the Apple CD-ROM collection, by using a middleman publisher (Double Impact Multimedia) that went bankrupt just when the checks were supposed to be mailed. Apple did nothing for the designers, developers and creatives for ours and many other titles.  Today, I would blog that injustice so nasty 24/7 – we would see their response and how they fix the problem.

Marketing with Podcasts – ClickZ interview

Interview with Greg Cangialosi author of "Podcast Academy: The Business Podcasting Book: Launching, Marketing, and Measuring Your Podcast" 

Clickz_marketing_scansave_targeting

…there are several key metrics in podcasting. First, there’s your
overall audience, download requests per episode, download completes per
episode, unique download requests per episode, and unique download
completes per episode. We also are looking at consumption metrics,
which can be broken out into partial plays and complete plays. 

Then
there are what we call the engagement metrics, which occur beyond the
media consumption. Your RSS subscribers, your Web site/podcast site
visits as a percentage of downloads. Any blog, forum, or page activity
as a percentage of downloads (that shows the relative appeal of the
podcast). Then there are more standard Web metrics, like Web site page
views and time spent on the site and the overall impact of your
podcast. This includes ad awareness, call-to-action responses, sales,
lead generation, referrals, etcetera.

Will your facebook app be worth over $25 million?

Topfriends
Moonphases
Bills

The #1 facebook app is Top Friends and is valued by Adonomics at over $25 million. facebook is a really big business. Oh yeah! How about a hundred billion $? Interested in the business side of facebook? Take a look at the developers page and the developers services inside facebook, as well as the groups related to VCs, advertising and development, and the emerging industry behind facebook is revealed. Not all apps are worth $25 million, however. The #500 facebook app, moon phases is valued at $3,024. It would cost at least that to pay for its development based on going rates. I don’t mean to thrash the Buffalo Bills, but the Bills Fan Statistics app has 2 active users and is valued at $8. It is ranked as the #3,662 out of 5,832  facebook apps. If you don’t have a hot screenplay in you, consider developing a facebook app – don’t lose the dream but don’t forget the lesson of the Buffalo Bills. Your effort may go "wide right" . 

The High Road on Privacy — Dealing with the Elephant in the Room

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Privacy is the "elephant in the room" of target marketing efforts.

The customer has been conditioned to think… How can you target an offer without my data? How is that data collected and used? Wait a second…How did you get that data? Who else has that data? 

No one likes to talk about Privacy too much. Most Marketers perceive it as a negative in customer’s minds; even the root cause of failing loyalty programs.

There are different ways of dealing with  the privacy issue.

  1. You can ignore the issue
  2. You can  decide that it isn’t worth the hassle and give everyone the same offer
  3. You can point to a privacy policy and convince yourself that boilerplate from a lawyer will make a customer content vs. what it is really designed to do… cut back litigation
  4. You can take the high road. 

The high road is to develop target marketing programs that openly target your customers for their propensity to do something, fully transparent and without apology. Remember, in most cases business rules and algorithms cannot handle fully targeted 1:1 offers, so why pretend that the offers are 1:1 Let the customer know that these are offers for "customers like them" – because thats what they are!

What about their data? You get rid of it. That’s right… you build a unique campaign database that strips out all the identifiable data that is not needed. and you tell the customer right on the offer "THIS OFFER WAS CREATED FOR CUSTOMERS LIKE YOU, FROM A SECURE DATABASE   WITHOUT ANY OF YOUR PERSONAL OR IDENTIFIABLE DATA"  You use a unique customer campaign number derived from, or referenced to, the customer’s data that is held in a database elsewhere.  For the campaign, the unique number used is in a group for offer purposes. Essentially, the offers are not personalized down to the customer level. They are not company:1  but company:segment .

More on the "high road" If you need an email address or a name and street address to deliver the offer, you add that to the note to the customer… "THIS OFFER WAS CREATED FOR CUSTOMERS LIKE YOU, FROM A SECURE DATABASE   WITHOUT ANY OF YOUR PERSONAL OR IDENTIFIABLE DATA – YOUR (EMAIL) ADDRESS HAS BEEN APPENDED TO THE OFFER FOR DELIVERY PURPOSES ONLY"   

When the campaign is over,  you preserve the high road policy, by using the intelligence from  the campaign selectively to analyze and optimize. The next campaign uses unique campaign ID numbers again.

There is enough opportunity for dynamic offer optimization to challenge the savviest marketers with the biggest technology resources, while staying on the high road.

Now the Customer is being conditioned differently.

How can you target an
offer without my data?
I’m part of a group getting the offer

How is that data collected and used?
– My personal and identifiable data isn’t being used

Wait a
second…How did you get that data? Who else has that data?
– I trust the company judging by the effort they have made in communicating how they use my information

Next time I’ll share my thoughts on… delivery offers.

Ten myths about Coupon Redemption from ICOM

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Overall
coupon redemption rates are in decline in the United States and Canada.
As North American marketers search for answers to help them cut through
the clutter arising from a proliferation of offers, the time has come
to re-examine some of the conventional wisdom on couponing.

Much of that conventional wisdom is wrong, say ICOM Information & Communications
marketing and consumer insight experts Peter Meyers and Steve Litt.
Their assertion is based on redemption trends derived from a 20-year
database ICOM built in the course of designing 6,300 targeted
direct-mail programs and issuing 425 million coupons to 28 million U.S.
and Canadian households that voluntarily provide information about
their purchasing preferences. ICOM’s database uniquely differentiates
redemption behavior between current, competitive and new users of
products.

According to Meyers and Litt, these are the top ten myths about coupon redemption:

Myth #1: Short-term expirations drive immediate sales.
Fact: Consumers need more time. A short expiry often cuts redemption far more than any increase in value can make up.

Myth #2: Higher value always equals higher redemption.
Fact: Value alone isn’t enough. Maximum redemption comes from an optimal value-expiration sweet spot.

Myth #3: Store brand users aren’t worth pursuing with target coupon offers.
Fact: As
store brands upgrade their quality, fewer store brand consumers will be
price-centric and more will be quality and feature conscious. They’ll
often redeem targeted offers at rates as high as other competitive
users.

Myth #4: Targeting the most loyal users of a competitor’s product yields the best return on a coupon program.
Fact: Light to moderately loyal competitive users are more likely to try a new
product and will do so on a lower-value coupon offer.

Myth #5: The presence of a sample is a requisite for driving high redemption rates.
Fact: There
are other factors much more likely to drive redemption rates. Some of
those include expiration, value, current vs. competitive user, and
frequent vs. infrequent coupon user.

Myth #6: The current users of a product don’t need long expirations to get them to redeem a coupon offer.
Fact:
Even for current users, to gain more than two-thirds of potential
redemptions, offers must be six months at minimum, and in the 10-12
month range for personal care categories like skin and beauty products.

Myth #7: Coupon clutter is pervasive in all delivery strategies.
Fact:
Escalated volume is not a factor in targeted coupons mailed directly to
homes. Notably, targeted promotion redemption rates are up in this
sector for household products and pet products.

Myth #8: Coupon offers on frequently purchased items are redeemed quickly, so an expiration of less than six months will do.
Fact: Targeted offers with expirations shorter than six months in general have only half as many redemptions as longer term offers.

Myth # 9: Current and competitive product users need the same coupon value to be motivated.
Fact: In
any product sector, current users typically require much less offer
value to drive them to purchase. Sectors vary, but it often takes 40
percent less value to move a current user than a competitive user.

Myth #10: Americans and Canadians share the same coupon redemption behavior.
Fact: There
are shared traits but the difference in absolute redemption rate is
substantial. Americans receive 10 times more mail than Canadians and
are less likely to respond to offers. Canadians favor contemplation
over quick action and require longer expiration terms. The net result:
the decline in overall coupon redemption rates is steeper in the United
States.

Ten benefits of in-store target marketing

Optimize_logo_2

To build this list, I surveyed Scansave, LLC (the company I founded) and 4 other companies that specialize in delivering targeted offers in-store. I am very happy for my own selfish reasons to see validation for these new business methods. The over-arching framework for in-store target marketing has to be the interface to the shopper/customer; where and how do you make contact, and what do you give as a value exchange? 

So here is my list of benefits for those considering target marketing in-store, which in my mind only qualifies if your efforts are measurable, targeted, and can be optimized.


  1. offers are relevant and personalized – it demonstrates you know your customer
  2. delivered at the best place; the point of decision
  3. flexibility; electronic or paper with multi-channel integration opportunities
  4. increased frequency; not the program but the result of frequency offers
  5. increased basket size without diluting profit margins; cross-sells and no pantry filling
  6. product trial; see it, touch it and an instant incentive to try it
  7. level playing field for store brands; its your store… promote your private brands efficiently
  8. data-rich; if the offers are targeted, the data  collected is valuable and powerful
  9. less waste; more efficient than broad-based direct marketing via mail
  10. $; increased spend, increased revenues and increased profit margins

Top 10 trends in Web Analytics according to Jim Sterne

Courtesy of Jim Sterne e-metrics founder and FB friend (via Larry Page’s Newsletter)

see it here

Top Trends in Web Metrics & Analytics:

1. Upper Management Demands Proof

2. The Desire to Measure Everything Gets Serious

3. The Need for Integrated Marketing Becomes Obvious

4. A Common Language Is Born

5. Defining Engagement Remains Elusive

6. Reputation Management Grows in Stature

7. Finding Experienced Web Analysts Continues to Mystify

8. The Web Analytics Consulting Market Mushrooms

9. New Web Analysts Flood the Market

10. The Industry Continues to Consolidate

Bonus Trend. The Rich Get Richer

see it here

Did you Save Your Lucky Green Stamps Today?

 

Paybytouch_sh_optimize_retail_insto

Pay_by_touch_logo_3

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Loyalty… FrequencyAre these new concepts?
Its the 1950’s…. Imagine a kid licking the lucky green stamps that Mom brought home from the supermarket, and sticking them into a catalog book, all the while staring at that picture of a doll or train set that they were saving the stamps for. If junior had any influence, Mom and Dad would spend every spare dime they had at the supermarket to get more stamps. S&H Solutions
Now, fast forward to the recent acquisition by Pay By Touch of S&H – one of the originators of "rewarding consumers
for their purchases to keep them coming
back." Pay By Touch is merging payments and loyalty with the touch of a thumb. "Pay By Touch is the leading biometric authentication network for
loyalty and payments, and the only company that integrates biometric
authentication, payments, personalized marketing, and payment
processing. The company’s mission is to liberate consumer
s through
biometrics and beyond by providing the most secure, convenient, and
cost-effective electronic transaction solutions available."  Pay By Touch
My sister saved up lucky green stamps for one of these "hot numbers" (above) from Loblaws in the 1950s. Nice hairdo 🙂 and the outfit looks a lot like the uniform worn by the  ladies behind the  deli counter…  How many pounds of ground round was that ma’am? The answer is no… Loyalty and frequency are not new concepts, and I would venture to say that nostalgia for these programs is not misguided – THEY WORKED!


How much does a pound of loyalty cost?

Loyalty


According to Jim

Jim Barnes, a fellow Canadian and a guru at Customer Think discusses research results from Colloquy…

Research results such as these indicate that consumers perceive a ton
of value in loyalty programs and use them often to earn rewards. But,
they have precious little to do with loyalty.

Jim goes on to caution about developing a loyalty program to get customer loyalty. Do loyalty programs influence customer behavior? Of course they do.
But, if you are looking to build long-term customer loyalty, the kind
of loyalty that is grounded in an emotional connection, don’t go
running off to start a loyalty program.

Jim’s full comments are here.

“The Man” is conflicted about social networking.

Optimize_target_marketing_blog_scan
Bw

link to Business Week article

excerpt:
By luring employees into a network, companies hope to leverage their
skills and contacts. But they also hope that all that collaboration
will cut out time that’s now spent mailing documents and e-mailing
comments.

excerpt: SharePoint, the
Microsoft software that lets companies set up MySpace-like profiles,
blogs, and collaborative Web sites known as wikis within the confines
of their firewalls, is one of the fastest-growing server products in
the company’s history. "At first people were slow to adopt this; they
were nervous. But now we’re seeing a bunch of adoption," says Rob
Curry, director of the Microsoft Office SharePoint Server software.
Both Microsoft and IBM are using their own offices as labs for their
products.

excerpt: The whole "open"
ethos of the social Net–sharing pictures and music and letting
"friends" know your every activity–goes against the instincts of
big-company chief information officers.

 

Warning!!! Poindexter Alert – Optimizing Marketing

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OK some of this is heavy if you are not into marketing and analytics. But if you are interested in loyalty programs and CRM, this 2 part knowledge sharing from Fulcrum’s CEO David King is worth a read .

In part1, the discussion is about how "database marketing technology is finally catching up to the real-world need to manage customer relationships over time. Finite state machines are being adapted to marketing and provide an entire new set of capabilities."

In part 2, KIng talks about optimizing marketing around particular strategic goals and in the face of real-world constraints… "extend the concept of state machines with a
technique used for optimizing processes in many other industries – a
Markov Decision Process (MDP) — here the transitions are a set of probabilities."

Nifty little in-store marketing gadget

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Here is a "wireless loyalty card" that  shoppers carry with them in the store on their key fob.  Do I think it  will fly?  Not sure – because of the infrastructure needed to read and write special offers to these fobs throughout the stores. But, I think the idea is in the right direction  Scansave (company I founded) is working on an alternate approach where your points/loyalty/credit card in your wallet has a special surface that  prints, erases and reprints offers right onto your card.  Imagine visiting Costco, Sam’s Club or BJ’s and when you take out your card, you show it like you do today, then you swipe it, and your card is imprinted with offers… JUST FOR YOU! 

Scansave offers PVC loyalty card solutions with re-printable surface

Optimize_blog_target_marketing_pr_2

Weird Science – Putting a Value on the Biggest Brands

Brandz_100_top_brandz

Weird Science! Google’s brand value 50% more than Coca Cola.Double the value of either Toyota or McDonalds. Give me  a  break today! According to agency Millward Brown, authors of the annual "Brandz 100" study … "Brand value is the financial value of a brand – defined as the sum of all earnings that a brand is expected to generate" But, they use their own brand contribution multiplier, based on intangibles,  to get the total. You know what they say about 50% of advertising being a waste, but no one knows which 50% it is.Too much of marketing is intangible.

http://www.millwardbrown.com/Sites/optimor/Media/Pdfs/en/BrandZ/BrandZ-2007-RankingReport.pdf

If you don’t read this we’ll kill this dog

Nl

Remember this National Lampoon Cover? Maybe this is the best way to monetize blogging? Threats! No? well then I’d love some ideas and direction, because I’m back at this after a break of 3 years and would like to know how, where, and who can teach me about how to effectively use the blog to build business. That’s really what its about isn’t it?! Be honest!
If I just wanted a friend I would keep the dog, and shut down the blog 🙂
Which is the best host? I have a few days left in the trial period to decide to keep typepad. Is wordpress better?

facebook apps

Over 3,000 facebook apps! I have been looking for an app that would let me tie in this new blog, a facebook group, websites and my facebook profile. I chose "blog friends" and we’ll see how that goes. Most of the apps for RSS I looked at, were reviewed by users and most had bug complaints. I really didn’t see a clear leader in this "category"   

I know one thing I hate on facebook is being forced to get an app to see what someone is trying to send/give/share. I’m a hypocrite… I like shoebox and have sent non-users special gifts that they need shoebox to see – GUILTY as charged!

I see VCs raising funds just for facebook app companies,  websites that review facebook apps. It seems like the 3rd wave of the Internet is now underway and facebook is right in the centre! Watch out google!

Resistance is Futile

I have to admit this first post is not something I have looked forward to. I maintained a blog for a few years with Blogger, and although the links and content were IMO excellent, it was a sinkhole for time (and likely ahead of its time).

4 or 5 years later and I’m giving it another shot to integrate  my thinking on target marketing, to learn, to connect,  and provide a focused outlet for those interested in all the issues around target marketing and promotion optimization.  You are welcome to contribute, promote and sell as long as you are on "target". If you can help teach me how to promote the blog too, that would be a gift!

One area I am interested in, and want to learn about is… Privacy and Target Marketing.