HyperPlinks | Quality online entertainment Mix modelling muddles marketers I think econometric modelling is over used in marketing. And routinely produces misleading results. Let me explain... Warning: people who make their living from such modelling will not like what I have to say. Astrology, like econometric marketing modelling, has many fans, many of whom are very intelligent capable people. I think econometric style modelling is over used in marketing. How your marketing mix affects sales is an important question, so I don't blame marketers trying something that offers a solution. Here are some of the problems with econometric marketing mix modelling: Firstly, such statistical modelling works on variation in the dependent variable (eg sales or share) and the independent variables (advertising spend or SoV or exposures, pricing, media strategy, timing, point of sale, sales team emphasis etc). And some important sales drivers, like distribution, change very occasionally (new stores/channel) and often in different ways every time.
23 social and digital services agencies should offer Millennials: Confident. Connected. Open to Change Executive Summary Generations, like people, have personalities, and Millennials — the American teens and twenty-somethings who are making the passage into adulthood at the start of a new millennium — have begun to forge theirs: confident, self-expressive, liberal, upbeat and open to change. They are more ethnically and racially diverse than older adults. They’re less religious, less likely to have served in the military, and are on track to become the most educated generation in American history. Their entry into careers and first jobs has been badly set back by the Great Recession, but they are more upbeat than their elders about their own economic futures as well as about the overall state of the nation. They embrace multiple modes of self-expression. Nearly one-in-four have a piercing in some place other than an earlobe — about six times the share of older adults who’ve done this. They are the least overtly religious American generation in modern times. They respect their elders.
7 Ways to Use YouTube in Your Business Though Facebook and Twitter were the leading social networks that swept through the business world in year 2010, in 2011 YouTube continues to be the most valuable video marketing and advertising tool for businesses of all sizes. By far the web’s largest and most popular online video archive, YouTube offers fantastic opportunities for a business to show off its expertise, share knowledge, market products and connect with customers, colleagues and prospects. Here are 7 ways to use YouTube as an effective business tool. A YouTube Channel for Your Business While it sounds like an obvious first step, I’ve come across many businesses that upload tons of videos on YouTube but don’t even create a channel for themselves. YouTube offers a barebones channel so make sure to customize it to improve its appearance and include information about your business. Tag your videos It’s crucial to tag your videos with the right set of keywords. Soft sell your videos Video Promotions & Contests Playlists
HOW TO: Avoid a Social Media Disaster Clay McDaniel is the principal and co-founder of social media marketing agency Spring Creek Group. Find him via @springcreekgrp on Twitter. If there’s one thing that keeps social media marketers up at night, it’s the ever-present threat of a PR disaster. By now, every marketer is well-aware of how quickly dissatisfied consumers can turn to the social airwaves to vent about a brand. Nestle, BP, Domino’s, Southwest Airlines, and many other brands have witnessed the unbridled power of social media as a platform for disgruntled consumers to rally around an anti-brand cause. You can never fully “control” what your customers say about your brand on social platforms like Facebook, Twitter, YouTube, blogs, and forums — nor would you want to. Here are five tips to give your brand the best possible chance at avoiding a social media PR debacle, and strategies for quickly handling problems if they arise. 1. What’s not tolerated in conversations about your brand. 2. 3. 4. 5. Learn from Great Examples
The big data bubble in marketing -- but a bigger future Let’s face it: marketing is in a big data bubble. That’s both a “big data” bubble and, more generally, a big “data” bubble. Everyone is talking about data, big data, data analytics, big data analytics. Vendors, analysts, consultants, pundits, bloggers, etc., are all falling all over themselves to squeeze these terms into their propaganda content marketing. As just one example, three out of the Top 10 predictions for CMOs by IDC revolve around data. How CMOs must have a strategy for how market-driven data will contribute to corporate objectives (#1). In fact, the subtitle of IDC’s accompanying webinar was Today’s CMO Becomes a Master of Data. Now, I love data as much as the next techy-geeky-marketing-wonk-with-a-blog. For instance, IDC’s predictions for 2013 state that the CMO will be given full responsibility for “data analytics” — and, in some unspecified way, required to tie that to business growth. Analyze data — preferably big data.??? The bubbly part of the big data bubble
The History and Future of Mobile’s Role in Fashion “Moving Targets: How To Connect and Engage Lifestyle Customers Via Mobile Devices, Games & Apps” is a three-part mobile series on mobile sponsored by Fresh Concept Lab, creators of Stylmee, the fashion and lifestyle industries’ first 3D fashion iPad App. Mobile marketing is something that can’t be ignored. Lifestyle brands, retailers and products are actively and artfully trying to master the medium in order to catch their customers’ attention and loyalty. A brief history of mobile The marketing industry is going mobile, and the fashion industry going with it. U.S. marketers will spend about $56.5 billion on mobile advertising and promotions by 2015, according to Mobitrove. Why are marketers so hot to reach mobile consumers? Because more than 72.5 million people own smartphones. Even better? Getting the message to the masses Conde Nast launched its Style.com app in 2008. So there are apps for fashion magazine content, and apps for brands. Let the shopping begin Just show me something pretty