SMB Marketing Tips

230 posts categorized

January 09, 2015

The World’s Most Valuable Startup

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As of Monday, December 29th, 2014, the Chinese smartphone maker Xiaomi has become the world’s most valuable startup. Late in 2014, the company closed its last round of funding, topping off its latest run at $1.1 billion dollars. With that, Xiaomi’s valuation has skyrocketed to $45 billion – past even the controversial pseudo-taxi startup Uber (valued at $40 billion).

If you haven’t heard of Xiaomi before, you are not alone. The company is a giant in China, however, with brick and mortar locations throughout the country. After taking advantage of a void in the Chinese smartphone market, Xiaomi has managed to increase their manufacturing output, and they are now the third largest smartphone manufacturer in the world. In their third quarter report of 2014, Xiaomi sold over 16 million units, an increase above last years’ report by over 3.5 million.

Many people throughout China prefer to purchase Xiaomi phones due to their low-cost. Samsung and Apple are still the power players throughout the world, and they have retained a good deal of the Chinese smartphone market. In the past year, though, sales by these juggernauts have been chipped away by Xiaomi – Samsung’s sales in particular, which has declined by 29 percent in the region. Surprisingly, Xiaomi’s gross sales in China has not come as close to defeating iPhone sales. Apple still retained $25.4 billion in sales in China alone, while Xiaomi only garnered $56 million in sales. 

Some of the controversy surrounding the startup includes a breach of international patents, but these claims have yet to be proven. Though Xiaomi publicly claims to operate under thousands of patents, most cell phone manufacturers own patents in the tens of thousands. And with their tight margins, it is unlikely that they are manufacturing under a series of licensing deals. In any case, the success of their business model is evident: build it cheap, run it with Android-based software, and sell it everywhere (in China). 

Xiaomi has announced that their next step will be to branch out into similar foreign markets, like Brazil and India. While Brazil fits all of the criteria of their business model, India is a bit less likely to embrace it. Historically, India has been wary of Chinese technology, and many consumers fear that the Chinese government will use the devices to spy on Indian citizens. Xiamoi has these and other roadblocks to get past as they expand into the rest of the Asian and potentially the South American market…but ambitions are obviously high.

The upshot for mobile marketing campaign managers is an increased need to cater their strategy to a variety of devices. Mobile marketing tactics that are effective at reaching iPhone users may not have the same impact on Android-based devices. Flexibility and adaptability are the watchwords for 2015, and if Xiamoi's explosive success is anything to go by, the world of mobile marketing and the wider world of tech should expect the unexpected.

 

January 02, 2015

6 of the Best: Green Apps

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Mobile tech has made rapid advances in recent years. It’s reached a point where traditional desktop web browsers are beginning to look anachronistic. Apps and mobile-friendly interfaces not only provide a better customer experience, they are constantly evolving to change with the times. 

One of the key concerns for modern manufacturers and retailers is the desire to minimize the ecological toll their business takes. If they fail to judge public opinion, which is turning greener by the year, their bottom line will suffer. Commensurate with the rise in eco-consciousness is the mobile app boom. After all, software already has a headstart when it comes to lowering carbon emissions: no factories, no large commuting workforce, no production line. Just (generally speaking) some computer-wielding geeks and a good idea. 

Eco-friendly apps go further, actively helping their users live greener lifestyles. We’ve trawled the web (using virtual-dolphin friendly nets, natch) to bring you the very best green apps on the market: 

1) 3rd Whale

A brilliant guide to all things green in your area, 3rd Whale helps you find the nearest vegan restaurant, organic café or bike shop, wherever you are. As well as providing location information, the app serves up the details of a specific company’s green credentials so you can make sure you’re dealing with the right people. 

2) Earth 911 

This smart little app has been advocating a greener lifestyle for ages now, and they recently launched a free iRecycle app too. Ideal if you’re looking for recycling centres, iRecycle grants access to details for more than 100,000 of them. Find your nearest centre, as well as maps, routes, opening hours and a list of the materials that can be recycled there. With Earth911, you’ll never have an excuse for throwing anything to landfill!

3) GoodGuide

Helping you find everything from energy-efficient household appliance to green gifts for friends, GoodGuide Mobile is an indispensable little app. It provides access to more than 250,000 green products, each with detailed reviews and eco-ratings. 

4) GreenMeter

Green Meter helps you reduce energy consumption and get more mileage out of your vehicle by calculating how much gas you’re using and offering advice on how to improve your fuel efficiency. Like all the best green apps, it’s twin appeal lies in offering ordinary drivers the chance to save money and the planet.

5) Eco Dice

A fun way to turn good intentions into positive change, Eco Dice is devastatingly simple. You simply toss a die on your mobile device, but instead of numbers, the faces contain green tasks for you to fulfil during the day. Options include separating trash, taking your own bags to the grocery store and turning off appliances on standby.

6) Carbon Tracker

This free app uses GPS to calculate your carbon footprint according to how many miles you travel. It factors in emissions from different forms of transport, and even allows you to switch from miles to kilometers in case you’re travelling abroad.

 

December 30, 2014

What Will Happen to Mobile Marketing in 2015?

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Change is inevitable (with the possible exception of vending machines), so what will become of mobile marketing in the coming year? Let’s take a look at what continues to dominate, what will change, and perhaps make a prediction or two: 

The Visual is Essential

One thing’s for darn certain: visuals aren’t going anywhere. The competition for consumer attention continues to gain momentum, and as such photos, videos and infographics are necessary to every piece of content created. A recent survey by the Nonprofit Times found nonprofits rank higher than for-profit organizations in content marketing strategies, with some 63 percent reporting current work on visual content as a big part of strategy. 

Personalization Increases

In-the-know marketers utilize analytics to create successful marketing campaigns, and in 2015 businesses will no doubt study customer behavior and interests in depth to craft customized content marketing strategies to stay ahead of the competition. Businesses are learning how to make adjustments with each new social media update, blog, etc. Measuring efforts will be easier than ever before in 2015 thanks to a number of new analytics tools. 

Consumers served content tailored to personal tastes will prevail in 2015 over marketing efforts that barely rings any bells. This includes blogs, guest blogs, articles and tweets, as brands have realized the value of personalizing content so as to reach different demographics rather than posting the same blog or tweet across all social media platforms. 

Mobile Friendliness: A Must

The mobile device surpassed the PC in usage for the first time in 2014, and brands are making adjustments to ensure content marketing efforts work for smaller screens…and shorter attention spans. Content designed for mobile devices, including location-based search terms, will be incredibly important in 2015. 

“Marketers have been advised to create and tailor different formats of content with customized copy for highly-fragmented marketing channels from TV to print to various social media platforms in order to reach their target audience,” says Pam Didner, a global integrated marketing strategist for the Intel Corporation. “It’s the right thing to do.” 

Interactive Applications for Product Storytelling Becomes Integral

Interactive storytelling will become an “integral part” of product demonstration in 2015, particularly at events such as conferences and expos. Brands are finding ways to use interactive 3D product models among other meticulously-crafted content to attract customers and give them a proverbial taste of the product without having said product on premise. 

These are just some of the ways mobile marketing will grow and change in the new year….

 

 

December 18, 2014

Texting: A Life Beyond Marketing

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Many businesses send mass text messages as part of their marketing plan. And why not? It’s a low-cost, highly effective way to offer special deals directly to customers. But direct marketing is just one way to leverage the power of SMS messaging.

Increasingly, companies are finding more innovative uses for text messages. For some, it’s about customer relationship management. For others, it’s merely the most easily accessed form of communication for remote employees. A growing number of businesses are no longer just using text messages to offer something of value – they’re using it to take payments from clients.

Let’s take a look at some common, non-marketing uses of text messaging:

News Updates

SMS is ideal for issuing operational information such as store opening and closing times, locations etc. It’s a brilliant way to engage customers and keep them aware of your brand without trying to sell anything.

Urgent Notices

Circumstances sometimes conspire to prevent entrepreneurs getting on with their plans. Let’s say you’re running an event and your keynote speaker drops out. What if that speaker was the only reason some of your attendees were planning to go? Letting them know of the schedule change by SMS may disappoint them – but not nearly as much as showing up and finding out on the day. For instant contact with an extremely high chance of being viewed, SMS is unrivalled. 

Competitions & Surveys

It’s true that your business will go nowhere if it doesn’t offer something people will pay money for. But that doesn’t mean your relationship with customers has to start and end with a financial transaction. Give them something fun to pass the time on the bus and they are already that bit closer to purchasing something. Offer a prize and they’re even more likely to play along. Create a quiz that’s relevant – even tangentially – to your company. Send it to opted in customers via text message and get the responses back in the same way. You can learn a lot about customer preferences this way!

Appointment Reminders

With hectic schedules and multiple distractions, missed appointments are a fact of business. SMS is a fantastic tool for issuing reminders to customers. Do it within 24 hours of the appointment to allow them to re-organize without risking them forgetting for a second time. Although not a marketing tip, this approach will ultimately help you grow your bottom line by minimizing lossess incurred by no-shows.

December 17, 2014

How SMS is Helping Small Businesses in Latin America

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The second annual Latin American Bitcoin Conference took place in Rio earlier this month. More than 200 attendees saw seminars and panels featuring 37 guest speakers from around the world. 

Among the keynote speakers were a number of bitcoin representatives. The crypto currency is making a big impact across the region. A new partnership between Coinapult and 37 Coins seeks to expand bitcoin access to segments of the population without smartphones or traditional banking methods at their disposal. Their weapon? SMS messaging.

The service allows bitcoin users the world over to send and receive payments using only a feature phone with SMS capability. For entrepreneurs in South America, it holds the promise of allowing them to operate from remote areas, lessening the burden on over-populated urban centers.

This is a crucial development, not just for SMB owners, but for the public purse as well. Millions of small businesses across Latin America are currently restricted to cash-only transactions. This raises the question: how sure can local governments be that rural entrepreneurs are doing due diligence when it comes to paying taxes? It hardly takes a cynic to assume millions of pesos, bolivianos, reals and dollars are slipping through the net.

Of course, there will always be a black market. For some, operating outside the system is a point of principal. But for most small businesses, removing the temptation is all that’s needed to reduce corruption. Give them the tools to accept trackable, taxable payments and they’ll play ball, safe in the knowledge that the added security will help their business in the long run. Legitimacy is so much more attractive when it’s easily achieved.

A similar scheme – albeit with no SMS element – has been implemented in East African countries including Kenya, Rwanda and Tanzania. M-Pesain allows its 16 million users to send and receive money, pay bills and withdraw cash from local ATMs. 

SMS-based money transfer systems are providing the way forward in Latin America. Paraguay has Giros Tigo, which incurs a 5% commission fee. Brazil and Argentina have similar systems in place.

Bitcoin and text messaging seem to be a winning doubles team. The key beneficiaries are often people who face discrimination from financial institutions, which view them as risky prospect for credit. Entrepreneurs trying to make headway in these conditions find it difficult to send money, pay with credit cards or open a bank account – no matter how promising their ideas are. Nothing can match text message in terms of potential: four billion people worldwide are living without smartphones (perish the thought!) and the remittances market has found it’s most promising tool yet in SMS-enabled bitcoin transfers.

December 16, 2014

Here’s the Big Brand Proof that Mobile Marketing Tactics Really Work

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In recent years, mobile marketing has grown in its influence upon corporate marketing spend. It is currently only about 1% of the total amount spent on advertising, but times are changing. Studies performed by Bank of America/Merrill Lynch have predicted that mobile advertising spend in the United States will increase from $3.6 billion in 2011 to $18.3 billion in 2015. The reason: several Big Brands have jumped into the mobile marketing game, and these businesses are seeing some terrific ROI.

 

  • BMW. In early 2014, BMW began an MMS campaign to send pictures and video, as well as text messages to their customers, inviting them to purchase customized snow tires. Their conversion rate increased over 30%.

 

  • American Express. AMEX developed an interactive user experience for customers using smartphones. American Express members can create a customized “panorama,” relating their lifestyle interests from dining and travel to shopping and sports. The company then utilized the data they gathered not only find special offers for their customers, but they deepened their relationship with customers in the process.

 

  • Dunkin Donuts. This well-known pastry provider started to use SMS texts to drive sales, offering coupons to the customers through their mobile phones. Store traffic increased 20%.

 

  • Harley Davidson. Late last year, Harley Davidson used a mobile marketing campaign to promote their version of “The Twelve Days of Christmas,” through Route 66’s mobile club and a mobile social media campaign. Holiday dealer traffic swelled, and sale of helmets increased two and a half times.

 

  • Nissan. With the mobile ads they created for their Nissan Leaf model, Nissan showed customers “how far you can drive on a dollar.” This effective strategy caused mobile users to share the mobile ads, and drove up customer awareness about their products.

 

  • McDonald’s. Invented the “Restaurant Finder” app to help their customers find late-night locations. Mobile users responded by downloading the app more than 1.3 million times, with an estimated ROI of two to one.

 

  • Samsung. By sending targeted messages to people who have purchased the latest iPhone, Samsung Mobile has found an excellent way to reach savvy mobile users. They offered these individuals $300 to trade in their iPhone for a new Samsung device.

 

  • Verizon. Using QR codes and Facebook, Verizon enacted a competition to win a smartphone. If the customer who shared the Facebook post had a friend who bought their own Verizon phone, the original customer would get a free phone. The promotion generated $35,000 in sales for an ad campaign that only cost about a thousand dollars.

With a well-planned, well-timed strategy, any business can improve their bottom line with a good mobile marketing campaign. And while mobile marketing has a great deal of room to grow, this will not always be the case. The time is now to get a foothold in the mobile advertising market: take a page from the playbook of these Big Brands. Develop a simple mobile marketing campaign and track how effective the ROI in this realm can be. 

December 15, 2014

The Ten Best Mobile Marketing Campaigns of 2014

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2014 has seen some terrific mobile marketing campaigns. By utilizing both social media sites and all of the functionality of mobile phones, we’ve seen some innovative ways that advertisers have increased their reach with mobile users. Here are the ten best campaigns of 2014:

1. NASA’s #GlobalSelfie engages users to create a worldwide mosaic of photos.

Nominated for its use of multiplatform social media for engagement, NASA invited users to take selfies that they would organize and compile into a global mosaic on Earth Day 2014. Using Twitter, Instagram, Facebook, Flickr and Google+, NASA urged users to include the hashtag #GlobalSelfie. Users could also access the event directly on Facebook, Flickr and Google+.

2. White House’s #getcovered spreads the word about Obamacare.

The social media campaign from the White House received a huge response from users, even in 2014. #Getcovered allowed users to tweet their personal stories regarding securing health insurance, and utilized a Storify slideshow to enhance their website.

3. NPR’s company page on LinkedIn provides rich content for workers.

By offering LinkedIn users exactly what they’re there to receive, NPR increased its brand awareness. Users can access NPR’s company page right from their mobile phones to get information about how to improve their career and to increase their knowledge of their industry. Many of their posts are educational and inspiring, and have tremendous reach.

4. Nissan launches a multiplatform B2B campaign with comedy and celebrity.

Nissan’s digital and social marketing campaign promoted its rugged commercial vans, and achieved a wonderful response from the companies it reached. The ads, entitled “Tough Love,” featured rock-and-roller Bret Michaels getting in touch with his softer side. The juxtaposition proved a hit, and garnered terrific ROI for the car company.

5. Nivea’s Bluetooth-enabled print ad helps to track your children at the beach.

Nivea launched an innovative print campaign that featured a removable protector strip that can be placed on a child’s wrist. An app called Protégé then allows parents to track where their kids are by locating the protector strip using Bluetooth 4.0 technology. Very handy for beach trips, indeed.

6. Hershey’s unveils a sponsored mobile data opportunity with a video campaign.

In an astoundingly simple way to get mobile users engaged, Hershey offers to pay for part of your mobile data when you watch their Scharffen Berger brand commercial. The sponsored content, offered by AT&T and partners through advertisements on apps like Pandora, has been well-received by mobile users.

7. Movie theatres incorporate mobile-enabled interactive ads into their lobbies and on screen.

Thousands of movie theatres have enabled moviegoers to interact using the camera on their mobile phones. The visual search platform Slyce teamed up with Screenvision to enhance the audience experience when going to the movies. Consumers have eaten up the ads, downloading games and purchasing film-inspired merchandise due to these effective interactive advertisements.

8. Pepsi – London #LiveForNow turns a bus stop into a wild and weird space.

PepsiMax created a bus shelter ad that made it appear as though crazy events were taking place. The entire experience was recorded and converted into an advertisement (that consequently went viral). Watch the advertisement here: http://youtu.be/Go9rf9GmYpM.

9. Red Cross collects donations after Hurricane Sandy with an SMS short code.

In an unprecedented example of human kindness, people around the world donated money to help victims of Hurricane Sandy through the Red Cross’ donation efforts. Donors texted “REDCROSS” to 90999 to donate $10, which billed mobile users directly through their cell providers. 20% of all of the donations received by the Red Cross for Hurricane Sandy relief came through text message donations.

10. Samsung’s #Oscars Celebri-tweet dominates Twitter.

Everyone who is anyone heard about Ellen’s celebri-tweet during the Oscars. Very few knew that it was a ploy, created by Samsung, to increase brand awareness among the viewers of the awards program. Probably the most brilliant mobile marketing stroke to date, the famous photo was shared and shared – causing viewers to create their own selfies and engage with the brand as well. 

The key to good mobile marketing is to consider all of the ways that you can roll out your campaign: the capabilities of devices, the variability, and how to incorporate every platform available. Then, keep it as simple as possible. All of the above examples do just that, by simplifying the strategy while increasing customers’ awareness of the brand.

December 10, 2014

Why Are Mobile Marketing Budgets Increasing?

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We see a lot in these pages about the growth of mobile marketing. But just how fast is that growth happening? And are the same trends expected in future? 

The more the industry swells its ranks and revenues, the more data we have to go on. A recent Tatango survey looked at mobile budget trends and forecasts and compared the results with previous mobile marketing metrics. So, are budgets going up in accordance with the mobile explosion? 

The answer is yes. Very much so. Some 44% of marketers said they were increasing their mobile budgets during 2014 – up from a little over 42% in 2013. Mobile is proving particularly popular with startups, who can devise creative mobile marketing campaigns on relatively few dollars.

Other surveys report similar upward trends. According to Gartner, digital marketing budgets are expected to increase by 8% in 2015. Exactly half of all respondents stated an intention to increase digital spending next year.

The message from businesses remains remarkably consistent. Gartner’s research was conducted with the participation of 315 companies located in the United States, Canada and the UK. They represent organizations with more than $500 million in annual revenue, working in six disparate industries: hospitality, tech, manufacturing, financial services, retail and media. The bigger the firm, the greater the marketing budget as a percentage of revenue; companies with revenues in excess of $5 billion report spending, on average, 11% of revenue on marketing. For companies generating between $500 million and $1 billion, marketing spend was 9.2%. 

And really, those dollars are what it all comes down to. Understanding how to exploit capital to it’s fullest potential is the primary challenge for cash-strapped startups. That’s why having an effective CFO is so important, and it goes a long way towards explaining the huge popularity of mobile marketing tactics like coupons and time-limited discounts, which are easily and affordably disseminated via text message.

The modern marketer is performing a delicate balancing act. Each strand of their campaign must be woven together into a satisfying whole. Integration is everything. The resultant consumer experience is nudging users towards a more self-service buying model, which means businesses can reduce traditional sales-led budgets without sacrificing quality. Marketing budgets in general – and mobile marketing budgets in particular – are the primary beneficiaries of this new model. If you’re yet to move ad spend into a coherent mobile marketing strategy, it might be time to start…

December 02, 2014

Crank Up Your Marketing Efforts for Christmas

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As the holiday shopping season draws near, it’s important to “amp up” marketing efforts. Let’s check out a few holiday promotional tactics small businesses can implement and subsequently increase brand recognition while ensuring customer loyalty.

 

Email Marketing

A straightforward option, email assorted blasts to opted-in customers about deals, sales and other promotions, and create holiday messages discussing new promo codes or other exclusive, limited-time offers. Existing customer discounts and free gift cards with purchase are generally the most successful email blast options, as they build brand loyalty and referrals in addition to increasing sales. Find an appealing holiday template, add the right information, and go from there.

 

Content Marketing

Whatever you “put out there” for your customers should engage them--don’t simply go for the boring sales pitch. Place attention-grabbing content on social media channels, blogs, press releases, articles, videos...think funny holiday clips, last-minute tips, guides on using your products, fun and helpful newsletters, and more. Information on day-before-Christmas ordering is another great content marketing method.

 

Social Media

Social media is a viable option for promoting your brand and products. Pinterest, Instagram, Twitter and Facebook all provide real-time access to customers and their online communities, with social media marketing even more essential during the holiday season. Upload holiday-themed images to your accounts, such as product shots in holiday settings or stores/offices decorated for the season. Provide regular updates on holiday promotions, sales, return policies and shipping cut-off dates, but don’t forget to add fun seasonal facts and similar information as well. Promoting gift card opportunities with links back to official websites is another option.

 

SMS Marketing

Text message marketing is becoming more and more prevalent, as it provides an easy, cost-effective method for reaching the vast majority of your customers instantly. Send holiday promo codes to opted-in customers, as well as exclusive holiday coupons and sales alerts. Advertise Christmas-themed discounts and specials to potential customers who opt-in, and enjoy a larger database you can utilize all year long.

 

Open House 

Another excellent Christmastime marketing idea is to host an open house at your place of business if applicable. Provide cookies and warm cider and or mulled wine, as well as free gift-wrapping for shoppers. Raffles, discounts and other special promos also work when advertising an open house, as do cross-promotional efforts, such as offering handmade chocolates from the confectionary across the street. If your business caters to children, have a friend or co-worker dress up as Santa and hand out candy canes or Christmas-themed coloring books while taking free photos with customers and their little ones.

These are just some of many marketing options to try this holiday season. Good luck, and Happy Holidays. 

November 29, 2014

SMS Can Drastically Improve the Cost Effectiveness of Your Collections Process

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In the past, collections agencies have utilized automated calls and effective agents to receive payments from the overdue accounts of borrowers. These days, we have the advantage of automated digital options, including email and apps to help remind customers of their bills. One method has risen to the top recently, though – the SMS authorized payment. 

Due to the explosion in mobile traffic, lenders are turning to SMS as the principal way to reach the bearers of overdue accounts. Everyone has a mobile phone, and since they tend to carry them at all times, this has made the method of SMS authorized payments very attractive to lenders. Collections agencies are now reporting that SMS strategies for collections have the highest rate of successful repayments.

 

Reduction in Expenses

The benefits to lenders are clear. SMS authorized payments reduce costs for the lender, while providing a superior customer experience. Studies show that SMS payments cost lenders about one-quarter of the amount required for automated voice services, and only a tenth of what it costs to pay an agent to secure collections.

 

Customer Preference

In addition, customers prefer digital contact with lenders rather than with a direct agent. There are many reasons that borrowers lean toward digital contact: Agents can be more difficult for customers to interact with, and digital methods are less embarrassing and intrusive for borrowers.

Provided that a lender abides by all privacy laws while leaving preferences up to the customer, most customers will choose to pay through interactive SMS correspondence. Options must be provided for each borrower: should a customer decide to pay using another method, the lender should work to allow for these changes. As always, any and all payments must be allocated by the collections system, regardless of method.

 

Integration 

SMS technology is also one of the easiest methods to incorporate into established collections systems. Once receiving the SMS past due alert, the customer can pay by phone or click through to the website in order to create a payment plan, chat with a live agent, and schedule future payments. It is on the website that the customer should be given the option to manage their payments through SMS authorized payments according to their schedule. These preferences should include the best way for the lender to contact the borrower as well. Creating ease-of-use online will drastically impact your opt-in text list.

All in all, SMS authorized payments are the wave of collections’ future. Consider the benefits to your agency, and the peace of mind you will provide for customers.