Trends for 2009: #7. Online commerce will continue to increase (shocking ... I know)

Online commerce will grow as a net number of transactions, but maybe not dramatically in total dollars sales. The three reasons this will happen are:

1. Online traffic will increase organically. More and more people continue to get connected to the web world, even when cash is tight.
2. Online shopping will increase as people look for bargains in this down economy. More and more people will look to the internet as the place where they can find deals.
   
3. So, while the gross number of online sales will increase, the average purchase price will be lower and consequently the actual dollar value of all those sales may not be much higher than it has been in the past.

What's a Marketer to do?

• Know that more people will be hitting your site looking for deals,
• Make sure your best deals are present on your home page, and
  
• Ensure that throughout your check-out process you have GREAT and SIMPLE up-sell and cross-sell options.

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.

It's fun when you find you rank high

I've been watching my Google Analytics stats lately, and it is fun to find that my content shows up on the first page of Google search results for various terms that people are searching. For instance, if you hit Google and search terms like:

• business strategy today's economy
• brand audit process
  
• big three what went wrong
  
• marketing audit rfp
• (and a whole bunch of others)

You will find that you the Market GoGo blog entries and web pages manage to show up on the first page frequently. Ahhh... SEO at work.

Trends for 2009: #6. Paid Search advertising (i.e. Google's revenue) will grow substantially again (i.e. Time to invest in Google?)

Web traffic will continue to climb. Web shoppers will increase in numbers. Web surfers will continue to start their purchase process on a search engine. The search engine of choice will continue to be Google, and in fact their share of the search market will grow dramatically.

Simultaneously ... Marketing budgets will drop. Marketing departments will be under more pressure then ever to draw prospective customers in.

So, what is a Marketer to do? In 2009 Marketers will spend more time than ever before focusing on Search Marketing - both paid and organic. Paid search advertising however is the easiest and quickest way to make things work.

It is likely that paid search advertising costs will actually increase substantially in 2009, as more Marketers bid on common phrases. Nonetheless, a good search strategy is still going to be substantially cheaper, much more effective, and infinitely more measurable than any signficant newspaper ad.

Search Marketing strategies to focus on in 2009:

• Do Paid Search Engine Marketing: Oh, and do it well. Track the ROI of keywords and be sure that you are making your money on every word that you are bidding on.
• Work your copy: A paid search ad is just a simple little bit of text. But, it may be the most powerful 12 to 15 words you ever write. Test, revise, test, revise, and don't stop. Make sure that every bit of copy you put out there on those search ads is on brand and works as well as it possibly can. Additionally, customize copy for each search term you have out there. You should have tens, hundreds, or even thousands of ads floating out there in the ether of the search world.
  
• Create Landing Pages: Every paid search bid should have its own purpose-made landing page with your call to action highlighted. No one should ever click on your paid search ad and end up at your home page (or worse, a 404 error).
• Do Organic Search Engine Optimization: SEO is "free" and having a high organic rank will pay off rapidly - even in places where you are also bidding on a relevant keyword. But, to be honest, SEO isn't free and it isn't a one-time project. SEO requires solid resourcing with people who have a good understanding of what they are doing. It is also a journey not a destination. So, you have to be prepared to continually revisit your SEO and tune your website.

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.

Buying a new TV shouldn't be this hard

My parents bought our first TV around 1972. It was a black and white Hitachi and we operated with nothing but bunny ears and 3 channels until 1986. In 1986 my parents moved up to cable, and colour. The catalyst for the change was that we also bought a Radio Shack computer consoled that hooked up to our TV.

I don't remember when we bought our first VCR.

When my wife and I got married we ended up getting her Grandma's old 19" colour TV. We reverted to bunny ears for many years. We actually bought a nice "big" Sony Trinitron TV about 7 years ago. Then we moved back to cable because our old bunny ears wouldn't work in our new house. We even bought a DVD player.

Now we are looking at moving up to HDTV, flat screen LCD. Yikes, what an array of things to look at:

• TV
• PVR
• Blu-ray DVD
• Warranty
• Digital TV Box
• Sound System
• Cables

I tried to buy this all online. But, I've come to the conclusion that none of the big online sites (e.g. FutureShop and BestBuy) don't support this very well. I want them to have a check-list and shopping cart system that leads me through buying all. They have a great opportunity to provide a simple user interface that takes me through a cross-sell and up-sell.

Alas ... now I am going to educate myself as well as I can. Then, I'll brave the less then helpful salespeople at one of the big-box electronic stores.

Even Wal-Mart is setting up to be LOWER Cost

In times of financial turmoil, the thinking goes that the company with the lowest cost strategy "wins". Typically, Walmart is seen as the company with the ultimate low cost strategy. Company lore includes stories of Sam Walton and other Executives sharing rooms when they went on business trips.

Conventional wisdom is that companies should be looking at ways to reduce their costs dramatically in a time like the current recession. If you can believe it, it looks like even Walmart is looking at how it can trim costs!

Report on Business (via Reuters) reports that Walmart is set to slash prices and unveil changes to its branding (probably that blue background and yellow sun that we've been exposed to from US commercials over the recent past, as well as the new slogan "Save Money. Live Better.").

In fact, Reuters is also reporting that in the US, Wal-Mart is continuing to cut prices 10-30 pct on many items.

As the low-cost and low-price retailer, Wal-Mart expects to to win sales and new customers in the current economic environment. Wal-Mart's message will focus on value, value, and more value.

In fact, the slumping economy is helping Wal-Mart in two ways:

• They are playing on the fragile confidence of the consumer, and
  
• Negotiating lower prices from vendors.
  

So - watch for Wal-Mart to thump their competitors hard this year. At the same time, their's is a great strategy to copy regardless of what business you are in.

Pelosi Rickroll? What the?

This morning I noticed that the term "pelosi rickroll" was suddenly one of the most searched terms on Google. Why? What does it mean? Let's take a look.

The first article was on Time.com and describes how Speaker of the House of Representatives, Nancy Pelosi, staff put together a simple prank video (also shown below) with the express intent of creating a viral video that will introduce the Speaker Pelosi to the world. Time wrote about it. I'm writing about it. Thousands of others will write about it and tens or hundreds of thousands ... or perhaps even millions of people will watch it.

This is viral video nearly at its best.

As explained on Time.com:

The Rickroll, an internet meme that started a few years ago, is basically a prank in which unsuspecting viewers are tricked into listening to Rick Astley's 1987 hit "Never Gonna Give You Up". The classic Rickroll is when someone is tricked into clicking on link that takes them to a video of the song.

What a great idea! Kudo's to Pelosi's staff for (a) using the new media at their fingertips, and (b) having a sense of humour!

Maybe this also will become part of Pelosi's (and indeed Obama's) branding: Take the job seriously, but not yourself.

Trends for 2009: #5. Simple Strategies ... Back to the Basics

When times were good things were easy. It was easy to get a new customer. Consequently, it was easy to ignore a customer, since there was always at least one (and likely many more) new customers waiting to take their place.

2009 brings an entirely different playing field. As an example, I heard an interview on the radio in late 2008 of a couple of Realtors. It appears that they are actually having to learn how to market and sell again. In their "good old days" all they needed was a listing and potential buyers would flock to the property to participate in a bidding war. Those glory days are long gone.

What are the basic strategies to focus on in 2009?

• Branding - What is your brand promise? How does your company support it? (Does your company support it?)
• Retail Ads - To paraphrase David Ogilvy, a good ad is one that sells your product. 2009 is not the time for airy fairy branding ads. 2009 is the time for simple and honest ads that educate people about the value of your product and scream out at them to take action.
• Customer Retention - The cheapest customer to sell to is an existing customer. It is time to revisit and work your current customers to remind them that you are a low-risk and well-known value for them (of course, I'm expecting that you really are). Reselling, upselling, and cross-selling are all ways that you can make ends meet (and maybe even eke out a profit) in 2009.
• Customer Satisfaction - It is almost like hearing the same message twice. If you are going to revisit your current customers, then you better ensure that they are happy with your product or service, and make real steps to bolster your customer satisfaction.
• Real Return on Investment - Projects you undertake in 2009 better have real and demonstrable ROI (and they better have it fast). The Accountants will be watching every project nickle like hawks (except, of course, their own International GAAP projects which will likely be "non-discretionary", unlike keeping their company in business which is, of course, discretionary ... ooops, did I write that out loud).

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.

Trends for 2009: #4. Focus on the green in your pocket ... not the green in your forests.

Environmental issues had a good run from about the time of Al Gore's 2006 smash hit An Inconvenient Truth to late 2008. As the economy was driving hard and people thought they had money to burn (pun intended), they were happy to believe they would pay more for environmentally sound consumerism. Look at the success of premium priced economy vehicles like the Prius. Leading up to late 2008 everyone has been trying to figure out ways to "green" their product.

Remember the oil crisis in the 70s? Everyone dumped their big cars and headed for "fuel misers". Everyone started to look at solar electricity and tide-generated electricity. I heard of someone selling a brand new Pontiac Parisienne for $500 (I remember telling my Grade 6 teacher this (he owned one himself)). Well, what happened? Our "environmental memories" are short. As soon as the fuel prices dropped, North Americans ran back to car dealerships and Detroit started making some of the biggest gas guzzlers to ever hit the road (i.e. SUVs like the Hummer, the Lincoln Navigator, and the Dodge Charger).

There is already evidence to support this will happen. Yahoo! reports that in December sales of the Prius hybrid dropped 45 percent as gas prices fell from their record highs in July. Meanwhile, MSN-BC reports that shrinking gas prices and attractive deals are causing a return by vehicle buyers to big vehicles like SUVs and full-size pick-up trucks.

Goodbye environment. Hello living as cheaply as I can.

But - beware - fuel prices will make a come-back. That is inevitable as there ultimately is a world-wide limited supply of oil. Also as Oil companies search out the harder to get oil (e.g. more of the Tar Sands in Northern Alberta) the cost of getting that oil, and refining it, will be dramatically higher. On top of that, the polar ice caps are still melting and the world is constantly becoming a more toxic place in which to live. So, what goes around comes around. Eventually the environment will be important again, but maybe not for a couple more years.

So, as a good Marketer in 2009, some things to do are:

• Focus on value in the short-term, and
  
• Build a credible and real environmental culture and brand for the long-term.

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.

Trends for 2009: #3. Direct Marketing will be in vogue

In 2009, Direct Marketing will become critical to an organization’s marketing success.

What is Direct Marketing? DM sends its messages straight at a prospective customer typically with media that is sent "personally" to the intended target. The goal of a DM piece is unabashedly to drive a purchase. Examples of Direct Marketing include direct mail, e-mail, telemarketing, desktop applications, mobile marketing, and RSS feeds. While traditionally it is unsolicited (e.g. that junk mail in your old fashioned mail box, or that phone call at supper time), on the internet DM is moving away from the "porn spam" and is tending to quality in-house opt-in lists or programs.

Why will Direct Marketing be hot in 2009? Two simple reasons. (1) It is cheap. (2) It works. In a tight economy, you NEED to get the bang from your advertising buck. DM does that and it is also uniquely trackable. Act now!

In 2008 the best DM was done by ... Barak Obama. His campaign forged a direct communication link between the candidate and the voter through multiple Direct Means, including mobile text messages, email and Twitter.

Things to focus on in 2009:

• Creating targeted and relevant campaigns that can be executed on multiple DM channels
• Tuning existing DM campaigns
• Ensuring your lists are opt-in and accurate
• Personalizing DM campaigns based on profile, preferences, and interactions
• Treat your email list like gold. Use it carefully. Don't abuse it.
• Focus on your existing customers. Mine your customer databases and create appropriate personalized direct offers
  
• Look at each DM media and look for new opportunities.
  

By the way ... for a few years a common industry prediction has been that RSS will replace email. Email still rules. People still won't know what the hell RSS is. However, if you aren't doing RSS, it is a good time to start. First things first, is to figure out for your customers how they can easily understand the technology and use it. RSS does have slow but solid growth as a strong medium of distributing marketing information.

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.

Back in the saddle

Where does time go? 2008 is gone. 2009 is off to a start. I've been trying to get back to blogging for a couple of weeks now, and there always seems to be something in the way. I have several topics I want to hit on in the next couple of weeks:

• My remaining predictions for the Marketing World through the rest of 2009,
• Marketing Strategies for 2009 (in the wake of the bleak economic outlook), and
  
• The need to polish up your RFP response skills in 2009.

Check back often if you want to see how this works out :^).