If you enjoy what you are doing and take every day that comes as a new adventure and opportunity to learn something and to make a difference in some way (in your life) you know what I am talking about.
Because then you understand that Knowledge is everything-The more you seek to learn and experience the better your life will be.
On the other hand if you are not happy with your life or your job then you are probably stuck in time and it seems to take forever to pass. If you are of this sort-GET UP?-WAKE UP? And do something about it-Please-You don’t know what you are missing and are just wasting the precious little time we are all given.
First of all, I would like to point out that I take exception with content that I read during the course of studying and doing research that does not reflect all the information that it could or should include that might lead the average reader with less experience in Marketing Technology to form the wrong opinion or conclusion.
Reader beware as in buyer beware is a term we all know. In the context of this article it is the collection of information necessary to be able to make a well informed decision and shame on you if you are not obtaining this information from a variety of sources and not taking one company’s or persons views, opinions or information as the only source on which to base your decisions.
Not that you don’t already know this but in today’s fast paced and sometimes deceptive media environment time once again may be weighing you down and it is sometimes easy to overlook, make a quick decision or take something as fact especially if that information is coming from a source that you trust.
Often there is limited time and/or resources to sufficiently research all the technology available and discussed and what it really can and cannot accomplish. This type of Content provides a source of information to inform and educate us on current trends and developments on products and strategies. Unfortunately, this content at times might not provide a well informed or objective view.
With today’s rapid advancement of technology the pressures to monetize and the desire to stay ahead of the competition, technology is often brought to market that has not been sufficiently developed or refine enough to do exactly what it is intended or proclaimed to do.
As an example I will refer you to my last article, A Bad Customer Experience - The Cost? - One Cent , where I bring up the following point concerning Marketing automation software.
Marketing automation technology today is evolving but still finds it difficult, especially in B2C, to be able to recognize that people are complex humans that have many different reasons for any particular action they perform.
Every customer’s experience is different and to assume or generalize what a customer’s intentions are can be an ill-advised and hazardous undertaking.
It wasn’t too long ago, just last year in fact that the marketing world was advocating that the days of pushing your message on consumers to gain their attention was quickly fading and inbound marketing, pulling consumers through engaging them with quality content was taking prominence and statistics were showing the benefits.
Last year Brian Conlin shared this in an article “It’s no secret that content marketing has become ubiquitous. After all, 93 percent of B2B marketers use it, a bump of 2 percentage points from 2012. However, just how effective content marketing is might surprise you. Despite costing 62 percent less than traditional marketing, content marketing generates about three times as many leads.â€Â 59 Killer Content Marketing Stats: 2014 Edition—via B2C.
If fact if you think about it and tell me if I am wrong, Triggered email, Retargeting and Geotracking are all push marketing disguised behind different names. And many people are pushing back.
Consumers are inundated with all the ways that exist today to get in front of them and others are developing technology to counter this with technology like ad blockers that according to a very recent article at Chief Marketer by Zach Schapira, “In the long-term if pervasive ad blocking shrinks the supply of sellable inventory, publishers may try to make up for the lost revenue by raising CPMs for advertisers.â€
With all the technology that is being thrown at us today it is imperative that you have the means through trusted employees, friends or consultant who are on top of the subject you are researching and who can advise you on what you are researching can do and can’t do and what if any drawbacks there may be and if it would even benefit you.
Another example of how confusing things can really get in this recent article entitled “Is Link-Building Dead?†by Marie Haynes Founder of HIS Web Marketing and posted at Search Engine Watch exemplifies how what one person says can be interpreted in so many different ways.
We are all conditioned from the time we are born by society. In one sense, is necessary to have a set of rules on how to behave to be able to maintain a sense of order and basically we have little choice but to conform to what is accepted behavior. This is not necessarily a bad thing but it can be confining and controlling if we accept everything blindly and never question anything.
Marketing companies create ads and content that condition us into taking on too much debt, instilling a must have or keep up with the Jones’ mentality (conspicuous consumption) or the need for all the latest trending products and before we know it, we are living lives created for us by the powers that be many times without our conscious participation.
Keeping up with the pace of change in Digital (Integrated) Marketing is surely one ours and industry’s biggest challenges. You no sooner have implemented one technology another comes along, sometimes from the same company, that claims to be bigger and better than the one you just implemented which may be true or a lot of marketing hype. But do you really need it? Here is where you need to make a well informed and research decision.
So don’t follow the crowd follow find what will work best for you and know the facts and you will be a lot better off for it.
William Cosgrove
According to a recent Forrester study, digital coupons are keeping up with the times, and are very relevant as omnichannel retail becomes the norm. The report says that, among 500 consumers who have used a digital coupon within the past three months, 59% stated that digital coupons and coupons codes are most likely to influence their purchase decision compared with other types of digital promotions. In addition, a strong majority of consumers will redeem a digital coupon code within three days of receiving it, and nearly one-third will redeem it immediately.
Times Using A Digital Coupon, Offer, Or Online Promotion Code In The Past Three Months |
|
Times Using ≤ 3 Mos. |
% of Respondents |
1 to 5 |
70% |
6 to 10 |
16 |
11 to 20 |
9 |
21 to 49 |
4 |
50 or more |
2% |
Source: Forrester Consulting/RetailMeNot, August 2014Â |
Given these salient data points, says the report, it is clear that retailers need to master the digital coupon process and identify the right partners. According to Forrester, the study yielded five key findings:Â
Over a three-month period, 68% of consumers today have made between one and 10 purchases online. Of those, 86% have used a digital coupon. Consumers continue to make purchases in the typical areas that one would expect. Restaurants, bath and beauty, and home and garden tend to be the most top-tier categories where consumers have made their purchases online or in-store. The next group of retailers, where purchases tend to be made more online than in-store, includes consumer electronics, books, movies, and music, as well as gifts and flowers.
Purchases Made Online In The Past Three Months |
|
Purchases |
% of Respondents |
1 to 5 |
38% |
6 to 10 |
30% |
11 to 20 |
20% |
21 to 49 |
9% |
50 or more |
2% |
Source: Forrester Consulting/RetailMeNot, August 2014Â |
An overwhelming 59% of consumers stated that of the different types of promotions a retailer can employ, digital coupons still hold the most sway when it comes to influencing a consumer’s purchasing decision (see Figure 2). This continues to reinforce a key finding from Forrester’s 2011 Thought Leadership Paper.
Types Of Digital (Online Or Mobile) Promotions Most Likely To Influence Purchase Decisions |
|
Promotion Influence |
% of Respondents |
Coupons or coupon codes |
59% |
Sales |
28% |
Daily deal vouchers |
9% |
Source: Forrester Consulting/RetailMeNot, August 2014Â |
Coupons continue to positively affect brand and loyalty. What also continues to be true from 2011 is that 68% of customers strongly believe that digital coupons have a positive impact on a retailer’s brand, and 68% of consumers also stated that coupons generate loyalty. Similarly, a digital coupon increases the potential for conversion when consumers are in the cart and checkout phase of a purchase and plays a key role in combating shopping cart abandonment. 63% percent of consumers surveyed said a promotion or a coupon often closes the deal if wavering or undecided on making a purchase.
Extent Of Agreement With The Included Statements(5=Strongly Agree; 1=Strongly Disagree |
||||||
 |
Strongly agree |
Strongly disagree |
 Don’t know |
|||
 |
5 |
4 |
3 |
2 |
1 |
|
MORE likely to buy a product or service at full price later from a company that offers online coupons or promotion codes |
22% |
28% |
29% |
10% |
7% |
5% |
MORE likely to be loyal to a brand that offers online coupons or promotion codes |
29% |
39% |
23% |
3% |
3% |
3% |
LIKELY to tell a friend about a company that uses online coupons or promotion codes |
34% |
34% |
22% |
4% |
4% |
2% |
Source: Forrester Consulting/RetailMeNot, August 2014Â |
In addition to being loyal, customers are also very open to trying a new brand when receiving a coupon on a smartphone. In fact, 47% of those surveyed stated they are open to doing so. These points all add up to good news for retailers and continue to reinforce that this marketing tactic can make all the difference when it comes to generating new customers, encouraging existing customers to spend more, and driving customers to a retailer’s brick-and-mortar locations.
Likelihood Of Action Upon Receiving A Digital Coupon, Offer, Or Online Promotional Code On Smartphone While Shopping In A Store |
|
Likelihood ToTry a new brand |
% of Respondents |
  Not at all likely |
14% |
  Probably not likely |
11% |
  Maybe |
28% |
  Somewhat likely |
27% |
  Very likely |
20% |
Likelihood To Switch brands |
 |
  Not at all likely |
14% |
  Probably not likely |
14% |
   Maybe |
37% |
  Somewhat likely |
23% |
  Very likely |
13% |
Source: Forrester Consulting/RetailMeNot, August 2014Â |
Digital coupons are still primarily delivered the good old fashioned way through email, and consumers are increasingly using tablets and phones to both find and redeem them. Sixty-five percent of those surveyed for this study stated that they used at least three digital coupons on their tablet, slightly outpacing the use of the desktop computer (see Figure 5).
However, retailers can’t ignore the momentum of mobile adoption. The report predicts that US mobile phone and tablet commerce will top $114 billion by the end of 2014. While smartphone revenue in 2014 should total $38 billion, tablets are expected to top that, with a total of $77 billion.
30% of those redeeming a coupon on a tablet redeem it immediately, says the report, and 60% of consumers receiving a coupon via a smartphone redeem it immediately or within several hours. Receiving a deal or savings via digital coupon can be the tipping point for a consumer to “press buy†online or to walk into a store and make the purchase in real time.
For more information from RetailMeNot, please visit here.
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Reposted From MediaPost
Photo courtesy mindgruve.com
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