Michael Porter’s Five Forces framework uses industrial organization economics to evaluate the attractiveness of an industry based on the overall level of competition within that industry. The more competitive an industry, the lower profits will be. Conversely, an industry with little competition is likely to be more profitable and, therefore, more attractive. We’ve already written on the Porter’s Five Forces generally. Now we’re looking at each of the forces individually and in greater detail. Today we’re taking a closer look at the supplier power. Continue reading “The Power of Suppliers: Are You At Risk?”
Tag: Marketing
Tips for Marketing Your “Boring” Business
Let’s face it. Not all businesses are as flashy and exciting as manufacturing high-end sports cars, groundbreaking technology or exquisite luxury items. The marketing for some products is as simple as letting people know the product exists. Unfortunately, that’s not the case for most companies, and this means they may need to work extra hard or be extra creative in making sales. As Ryan Holiday writes for The Huffington Post, Continue reading “Tips for Marketing Your “Boring” Business”
They Hate Your Ads! Creating Marketing Communications That Resonate
AJ Agrawal recently wrote an article for Forbes titled “Inbound Marketing: How To Advertise To People Who Hate Ads.” Agrawal correctly notes that successful marketing “all comes down to one principle. People don’t like to be sold to.” What do they want? They want to be helped to by. “In other words, you are a shopping assistant not a greasy car salesperson,” says Agrawal.
Agrawal offers three strategies for marketers to get their message across to those who hate ads. Continue reading “They Hate Your Ads! Creating Marketing Communications That Resonate”
Why It Pays to Be “You,” Rather Than “Me,” Focused
By now, most business owners and business professionals have accepted the value that social media can have in helping to raise awareness, create preference and drive traffic to websites and to brick-and-mortar establishments. But, unfortunately, not all are communicating effectively through these channels.
We often see two common missteps, which we try to advise clients against doing: Continue reading “Why It Pays to Be “You,” Rather Than “Me,” Focused”
Best Practices in Making Social (Media) Connections
We often think of social media as the revolutionary communication tool for reaching a wide range of consumers in the modern marketing environment — and for good reason. It’s a phenomenal tool for inexpensively and intimately communicating with enormous audiences and potential markets. But some commentators point out that the focus on the business-to-consumer benefits of social media might be overshadowing important opportunities for business-to-business relationship building. Continue reading “Best Practices in Making Social (Media) Connections”
Content Marketers: What You Need to Know About Newsjacking
David Meerman Scott, a well-known marketing strategist, coined the term “newsjacking,” which he describes as “the process by which you inject your ideas or angles into breaking news, in real-time, in order to generate media coverage for yourself or your business.” He’s even written an ebook on the topic: Newsjacking: How to Inject Your Ideas Into a Breaking News Story and Generate Tons of Media Coverage.
The concept makes sense, and we all know that a great way to gain relevance online is by leveraging hot topics and news items that are beginning to trend-but it’s a competitive, and fast-moving, field. How do content marketers stay on top of the relevant trends and news in their industries to ensure they’re curating and communicating fresh, engaging content? Continue reading “Content Marketers: What You Need to Know About Newsjacking”
How to Build Thought Leadership Through Blogging
Blogs are so ubiquitous in the online world that it may seem like it’s not worth the effort to maintain your own. After all, blogs can take a lot of effort to maintain. You need to be current, consistent and relevant. Is it worth all that time and energy with so many blogs out there? Continue reading “How to Build Thought Leadership Through Blogging”
In Search of Viral Content: Is It Worth the Effort?
Online marketing is a crowded arena. Just check out Internet Live Stats to get an idea of the massive amounts of blog posts, websites, tweets, etc. It’s hard to stand out in the crowd, but every once in a while, some gem emerges that catches the attention of the masses and forms part of the collective consciousness. In other words, something goes viral. But how does that happen? Continue reading “In Search of Viral Content: Is It Worth the Effort?”
Yes You Can: Measure the Effectiveness of Your MARCOM Efforts!
Recently we discussed the challenges of determining the effectiveness of a marketing campaign. We cited a McKinsey & Company report showing that many companies don’t make any effort whatsoever to measure the success of their marketing efforts, and we discussed that there is a variety of variables that can make objective comparisons difficult.
However, rest assured that you can, in fact, measure the results of your marketing investment. As Content Marketing Institute discusses, there are a variety of key performance indicators that you can use in your analysis. The article gives some KPIs and some specific examples of each: Continue reading “Yes You Can: Measure the Effectiveness of Your MARCOM Efforts!”
Our Marketing Predictions for 2016
As we move into the year 2016, it’s a good opportunity to take a look at some of the potential marketing trends for the coming year. What do marketers and small business owners need to anticipate in order to hit the ground running this year?
Here are some trends we see for 2016: Continue reading “Our Marketing Predictions for 2016”