4 Savvy Marketing Ideas to Ponder Upon

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It is not every day that we get good ideas, but ideas according to many researchers do not occur out of the blue as a “Eureka” moment. Instead, they evolve as a result of environmental stimulus and human interaction we get involved with. So basically a series of motivating conditions that surround us result in confident brainstorming

Business is all about ideas and information. Think about it, the one main thing that businesses do is accumulate information which is often spread out within the organization and use it to a meaningful purpose. For example, if a company wants to introduce a new product placement in the market, it would first look at the information which resulted in existing product success. They would also utilize the information of their existing customer research to see how to approach the new market.

All business operations essentially base on collecting the right information and then generating ideas for making right tactical and strategic decisions. So in order to succeed in business you need to know two things. The value of good information and ideas to make out of them. It is no secret that the value of good information is often and rightly gauged by its impact on customers. Any information is good information if it depicts the reality of your customers, industry, competitors and media at large.

Customers should be the focus of any information because they are the ones who are paying which makes, to some extent, all other stakeholders irrelevant. Nonetheless, nowadays media is probably equally important because they regulate opinions and mood of customers. Therefore, this article focuses on customers and media. let’s see some marketing ideas which can help you better understand and target your market.

Invest on Value, Target Closer to Customers

Let’s look at a story with an even smaller marketing budget gave a very big company a run for their money. So how did they do that ? They spent their money on customer perceived value.

Customer perceived value, in this case , is large bucket of popcorns. During a high profile NBA match, the big company advertised their product on large screens at the center of the stadium, costing them thousands of dollars.

In comparison , the small company distributed free popcorns to everyone in the crowd . Although the big company’s Ad was flashy and ran for a lengthy amount of time. People noticed more the popcorns and branding on it than the Ad. Cameras focusing on spectators also captured the branded popcorn box. S uch a win-win situation for the small company .

The above story tells you that you should not necessarily invest . a snack that had experiential value because a high profile basketball game is associated with it .

Offer as per Segmentation

YouTube is a public forum to watch and promote any video content. It has about 1.3 billion users on its site. Despite the giagantic presence many other online video streaming services such as

But there is one element that many of these sites missed while competing YouTube. , which makes it difficult to compete against monopolistic position of YouTube.

So a better idea is to invest on service differentiation, focused on a particular segment.

Twitch in 2011, brought in the segmentation approach effectively in the industry. The platform primarily focuses on gamers. It tailors its services according to their interests, demands and needs. Especially video gamers, who can stream live or share info, walkthroughs and gameplays. Now they have 1.5 million registered broadcasters.

Another example is which launched recently in 2014. They already have over 220,000 registered broadcasters. Th e website dedicate their resources to and software engineers. They provided a forum where programmers can view each other’s coding live, interact and share programming resources. A forum made for programming language’s experts like for example JavaScript.

Now both these websites are considered opinion makers in their respective industries of gaming and programming. Therefore , segmentation is paramount in the online world today where there is so much clutter of services.

Money’s not Everything, Proving Your Point is

A French medical group called Médecins du Monde; cares for the vulnerable and the poor. They wanted to show the French people the dire condition of homeless people in Paris which was getting worse by the minute. They did not invest in heavily paid marketing campaigns nor did they initially turn to the internet. They knew people would not get moved unless they showed them what their point was.

In late 2005, The French medical group turned to action. They knew they needed to show people, the reality of the situation and they needed to do that by taking the first step of helping the homeless.

They started an initiative called “Tent City”. They placed their camps over Paris at different locations to distribute 300 tents. These tents had no poles or pins, which made them easy to set up.

Distributing tents in front of the city got people of Paris shocked when they saw the number of homeless people turning out to collect tents. This generated an outcry on the social media and on the streets which forced the government to allocate $10 million dollars for an emergency housing project.

Sometimes, marketing campaigns don’t work. You should know about your market and its problems. It is better to solve actual problems there on the street rather than broadcasting humbling messages .

Manage Publicity very Carefully

If your business is relatively new and your brand has a recognition and recall problem , then it is not a bad idea to push all ahead for publicity, good publicity.

Many businesses today have a problem where their brand is not commonly recognized in their market segment. Even if it is recognized, customers often don’t recall the brand. So all the work of brand positioning and personification usually goes to waste.

In this case, publicity is your best friend, as it is one of the fastest way to penetrate into your market. Remember the point that businesses are all about organizing information and generating ideas? Then you need to organize information about your market and pitch ideas which can be unusual but taken in good taste.

So let’s see some stories as stories usually more effectively get through.

Half’s Case

Around 1999, an e-commerce site called Half focused on buying and selling of used items, decided to make their company’s name a household one.

There have always been a problem of clutter of names on the internet. So domains get weirder and weirder to an extent that they lose any association in meaning with the product. This was Half’s problem. Their domain did have some meaning associated with the service they were offering, but they weren’t popular enough.

So, they took some measures. They offered a small and quiet town named Halfway in Oregon to legally change their name to Half.com for one year in exchange for $100,000 and 20 new computers. It worked, the town accepted and this got picked up in the media.

Now even if you leave out the equation of their idea being newsworthy. Just imagine the story being circulated from one town to another and then to cities just because of the uniqueness of the whole case. This word of mouth would have then propped up the social media and ultimately had landed in the news even if journalists considered this a fluke in the beginning. This publicity stunt got them so much fame that in 2000, the company got bought by eBay for a staggering $350 million.

The power of well-placed publicity is like wildfire. You just need to know where to apply breaks and not cross certain limits. The next case will shed some light on what happens if breaks aren’t applied.

Acclaim’s Case

Acclaim Entertainment was a video game developing company. They were very active in public relations. But their publicity stunts were often imprinted on media for wrong reasons. Now to understand a part of their PR strategy , it must be made clear that online gamers are a breed of their own. They love the daring and enjoy the deception. So anything unusual on the company’s part was to appeal to the gamer’s senses and to save their marketing budget as we will find out.

As it’s mentioned before, that a business decision should base on good information. Information that relates and stands true for the interests of its customers. But there is another force in today’s world that commands attention and care. It’s the media. Any business would fare good if they constitute media into their marketing plans. Because media can decide to show your actions in good light, bad light or just an alarming red siren nuclear emergency fallout kind of light.

Acclaim got into a lot of unethical publicity stunts. They really believed in “All Publicity being Good Publicity”. Let us give you some examples. Before Acclaim released their game called Turok: Evolution they publicly announced that the first five British nationals to change their names legally to Turok would receive 500 British pounds. 3000 people tried to claim the prize. Most of them obviously could not and general public certainly raised their eyebrows.

In a later event when they were releasing another game called “Shadow Man 2”, they announced that any relative of a recently deceased person would get money if they placed their promotional ads on the headstones of the graves. People strongly reacted to the idea and authorities got the campaign closed, saving Acclaim the money they were going to hand out to the relatives of the deceased.

They, in fact , counted on the authorities to shut down their campaigns so they wouldn’t have to spend money and yet receive free publicity. However, the public did not take their publicity stunts in good taste , which ultimately cost them their company. They sold their company in 2004 and it was completely shut down in 2010.

The reason to give you these two case examples of publicity, was to make it clear that unusual publicity if handled well and in good taste takes a business exceedingly far. But taking actions, which are conceived by society as immoral and downright disturbing will likely lead you to bankruptcy.

So here concludes the savvy marketing ideas that every business can look into. We hope you can learn from these lessons and make realistic strategical and tactical decisions based on well-articulated information and of course ideas!