Mediaboss Marketing

By Kalin Kassabov, CEO of ProTexting.com

If you have a small business, it's essential to keep up with the latest trends in technology, marketing, customer service and other areas that affect your business. Each business is unique, so every trend doesn't necessarily impact you equally. However, all major trends do influence your customers' expectations, so it's good to be up to date.

Here are some of the most significant trends I'm currently seeing that will impact small businesses in 2020 and beyond.

1. Customers prefer businesses that are green and socially responsible.

Customers are increasingly looking to patronize businesses that follow sustainable, green and socially responsible practices. As Gallup reported earlier this year, younger customers of the millennial and Gen Z generations are especially concerned about such values.

Some of the ways you can demonstrate your commitment in these areas include:

2. Customer reviews will be more important than ever.

Online reviews are not a new trend, but they are becoming more crucial all the time. Customers trust reviews over ads or any other content businesses create themselves. It's absolutely essential to have your business listed on sites such as Google My Business, Yelp and others that are relevant to your business.

The best way to get positive reviews is to provide great products and customer service. Beyond that, it helps to nudge your customers and gently remind them to leave reviews -- whether you do this in person or via email or social media.

3. Traditional businesses are learning to leverage e-commerce.

When you think of e-commerce, you probably think of Amazon and other online retailers. The fact is, however, that many brick-and-mortar businesses are learning to profit from the e-commerce revolution. This can be a way to expand your business without the need for more physical space. Here are a few examples of how traditional businesses can expand online.

If you have a restaurant, you might bottle your signature salsa, curry sauce or salad dressing. You could write an e-book of recipes or the history of a certain type of food. Salons can sell beauty and haircare products. A gym might sell supplements and workout gear.

If you don't create your own product, you could sell your favorite products as an affiliate. Affiliate marketing is an option for many businesses. No matter what type of business you have, you can either sell your own products or find products on Amazon (or another platform) to sell to your customers.

4. Businesses will use mobile marketing in several creative ways.

Mobile is one trend that will surely grow in 2020 and well into the future. Small businesses can take advantage of the popularity of mobile in a number of ways. For example:

5. Stories and livestream will dominate social media.

If you haven't been using Facebook or Instagram stories and livestream video, you're missing a couple of the major social media trends of the last few years. On sites such as Facebook, the main challenge is getting seen by your audience.

Rather than simply posting on your news feed, share stories on Facebook and Instagram. Livestreaming on Facebook, Instagram and YouTube is a powerful tactic for more visibility and engagement. When you post this type of ephemeral content, you can connect with your audience in a spontaneous and authentic manner.

You don't need to create long presentations. The best strategy is to check in frequently and provide the latest news so you consistently touch base with your customers.

Stay current with these key small business trends.

All of these trends have one thing in common: They require businesses to pay close attention to the current needs and preferences of today's consumers.

A customer in 2020 is likely to be someone who uses mobile devices, orders many products online, is environmentally aware, enjoys social media and reads customer reviews before making decisions. If you want these customers to choose your business, you have to understand how they think.

Kalin Kassabov is a founder and CEO of ProTexting.com, a fast-growing enterprise level text message suite of services.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

Originally posted here:
5 Small Business Trends to Leverage in 2020 - Inc.

Getty

Ten-year career plans became pass as the pace of change in business increased. Its hard to predict what the technological and economic environment will be in the coming year, much less a decade. But there are still many things you can and should plan for as this new decade approaches, especially if you hope to protect your marketability and increase your earning potential.

Positioning yourself to ride the wave of economic and cultural volatility that lies ahead will require a prolonged and sustained effort. That might be daunting to hear, but as you will spend the next decade working anyways, why not work smarter?

Even if you dont write out a full ten-year plan, try not to lose sight of these three goals when the 20s get into full swing. Use them as guideposts to help you grow more resilient and to keep your skill set in demand no matter what the next decade holds.

1. Become less dependent on your primary employer

Gone are the days when you could trust an employer to protect you during a downturn. No matter how valued you are right now, growing industry consolidation, pressure to cut expenses or changing business needs may result in a disruption in your employment.

Instead of hoping youll be lucky enough to be spared such periods of instability, work to reduce your dependence on one company. Make this goal a priority for the next decade.

For some people, that may mean launching a new business. However, startups typically require a significant investment of money and time, and you may not have either readily available.

Other alternatives include side hustles, freelance projects and volunteer work that has the potential to become paid work down the road. There are more options to generate side income than ever before. Plan to do research, test out and integrate an additional source of income into your life.

Your side hustle may never become your main source of income, but it can be personally fulfilling while also fortifying your livelihood and career prospects.

2. Get serious about marketing yourself

Almost any business idea or new career path you hope to launch in the next decade will be dependent on leveraging your brand and social network.

Good marketing plans are executed well before you actually need them. If you spent the last decade building knowledge and skills that few people know about, its time to focus on marketing yourself better in the 20s.

Many people mistakenly believe that defining your brand and sharing your knowledge publicly is an act of vanity, but in todays ever-connected world doing so is simply a career imperative. You will not be recognized for your talents if you dont build a significant online footprint.

You can certainly start with the basics such as getting a great headshot and updating your LinkedIn profile, but plan to go beyond that.

Find social media outlets that fit with your personality and become more regularly active on at least one platform. Then, commit to producing one to two quality online articles or videos a year in your area of expertise. A decade from now, youll have a significant amount of content to leverage and reference, not to mention the new connections you will make because of these posts.

Your online credibility will become an even larger predictor over the next decade of how often you receive job inquiries and whether you ultimately land the best jobs. Dont neglect this important area of career development; you will regret it a decade from now.

3. Age proof your skills

No matter how old you are today, youll be ten years older at the turn of the next decade. Start planning now to position this older version of yourself to remain marketable.

Workplace dynamics in the last decade were shaken up with the influx of millennial leaders and an ever-increasing requirement for digital skills.

Furthermore, Generation-Z will also soon be firmly established in the workplace while artificial intelligence has already begun to reshape the way we work. Its a certainty: more change is coming.

The key to adapting successfully is to have a mechanism in place to actively monitor workplace shifts and to challenge yourself to stay in step. At least once a year you should assess how your industry is changing and how to further align your skills. Identify networking groups or key mentors that are on the cutting edge of your industrys trends and stay connected.

Your ability to constantly refresh your skill set and adjust to new cultural norms will help you maintain market value. Dont let this next decade come and go with you still listing the same skills on your rsum or stuck in old management practices. Make sure your skill set and career story are evolving.

Protecting your livelihood in the 20s will require focus and active participation, but if youre up to the challenge, this could be your best and most fulfilling decade yet.

Kourtney Whitehead is a career expert and author of Working Whole. You can learn more about her work atSimply Service.

Original post:
3 Career Moves You Need To Prioritize To Protect Your Livelihood In The 20s - Forbes

Executive Summary

Many brands are struggling to capture value from their loyalty programs and trying to figure out how to best use social media to communicate with these customers. Some companies have even set up distinct social media accounts for their programs. For these efforts to be successful, companies need to know how to use social media to drive sales from members. Research of one companys social media posts shows that certain types of communication are more successful. After rating over 3,500 posts on particular dimensions and connecting those posts to sales, the study authors found that relational and intellectual posts were most effective in driving sales for loyalty program customers, while behavioral posts drove more sales from non-loyalty program customers. Sensory and emotional posts werent effective with either group in our study. Companies can use these dimensions when deciding on how to best communicate with loyalty program members.

More and more companies have loyalty programs and for good reason. A recent industry report showed that loyalty program members not only spend more and remain customers longer but they are also more likely to spread positive word of mouth. This helps explain why weve seen a proliferation of programs(weve seen new programs popping up across sectors like cosmetics, fast foods, and hotels). Target, for example, launched their Target Circle loyalty program ahead of this years holiday shopping period, after extensive test marketing showed increased spending for program members compared to those who were not enrolled.

Given that loyalty program members tend to be a brands most valuable customers and are already several steps into their journey with a brand companies need to consider how they are communicating with them across different channels. Our research (paper is in progress) shows that social media in particular can make loyalty programs more effective in driving sales, but only if done right.

We analyzed social media messages andthe impact on loyalty program and non-loyalty program online sales for one company, a European operator of snow tourism resorts. We started by scoring 3,500 of the companys Facebook posts using the five dimensions of brand experience. Each post was rated by social media experts on each of the dimensions. Relational posts make a connection beyond the recipient, for instance encouraging the use of product together with others, or as part of a tribe of interested consumers. Intellectual posts prod the recipient to engage in conscious mental processing, perhaps through humor, problem solving, or creativity. Posts that are high on the behavioral dimension include activity or interaction with the product or service. Sensory posts stimulate the senses and could involve breathtaking images or shocking multimedia content. Finally, emotional posts attempt to generate moods or feelings in the recipient. Once the posts were scored, we then analyzed the efficacy of each dimension in driving sales to loyalty program and non-loyalty program customers.

We found that relational and intellectual posts were most effective in driving sales for loyalty program customers, while behavioral posts drove more sales from non-loyalty program customers. Interestingly, sensory and emotional posts werent effective with either group in our study.

Relational messages connect the recipient to a larger community around the product or service, strengthening a feeling of belongingness. Posts rated high on the relational dimension tend to illustrate inclusiveness or the connections between people. Because loyalty program customers have an ongoing relationship with the brand, they appear to be more open to relational themes, whereas non-loyalty program customers may be less drawn to relational messages from brands which they are not already strongly connected. One particularly effective post from the resort we studied promoted family-focused resort activities, with imagery of cross-generational connections. Loyalty program sales associated with this post were 210% more than expected based on the resorts typical ratio of loyalty program to non-loyalty program sales.

Intellectual posts were also more effective with loyalty program customers. These customers are more invested in the brand and are therefore more likely to put forward the mental effort to engage mindfully with a detailed, intellectual post. One of the resorts posts rated high on this dimension included a comprehensive list of festival activities with a stylized map, which requires careful consideration and processing from the recipient. This post resulted in an 85% increase in loyalty program sales compared to expectations. Members-only retailers such as REI and BJs Wholesale often take advantage of intellectually demanding posts by including detailed product content (and in REIs case, outdoor lifestyle content). These posts require investments to both produce and consume the content, but brands see the value, knowing that their curious members are looking to deepen their brand relationship.

Behaviorally-themed posts can be effective with both customer groups, but were most effective in driving non-loyalty program sales in our study. These posts typically require less mental energy to process and encourage non-loyalty customers to visualize how they might interact with a product or service. One specific resort post that was rated high on the behavioral dimension mentioned leaving for the weekend and getting out to the slopes, with imagery showing a familiar behavior: getting off the chair lift. This post led to an 82% spike in non-loyalty program sales compared to expectations. One possible implication of this finding is that newer brands, who dont yet have a large base of loyal customers, could focus on behaviorally themed messages in their social media with easily relatable messaging around physical interaction with the product or service to drive sales from not-yet-loyal customers.

The resorts posts that were rated high on sensory and emotional content werent effective in driving sales from either customer group. This may be because the social media environment is a metaphorical screaming match, with a variety of posts vying for viewer attention. Turning up the volume through striking visuals or multimedia in this already over stimulating setting wasnt an effective way to reach either group of customers. Similarly, emotional content that appealed to customers feelings did not effectively drive sales from either group. This may be because browsing social media can be emotionally exhausting, so further taxing customers emotions doesnt work.

Many brands are struggling to capture value from their loyalty programs and trying to figure out how to best use social media to communicate with these customers. Some companies have set up distinct social media accounts for their programs. For example, Marriotts newly launched Bonvoy program has very active social media accounts on Twitter, Facebook, and Instagram, which are run separately from Marriotts flagship accounts. This allows Bonvoy to focus on content that loyalty program members value.

While our findings are based on the social media activity and financial results from one company (and we havent yet proven that they apply to businesses operating in very different domains), they provide digital marketers with some clues on what works and what doesnt and gives them a language to consider and communicate desired characteristics for their content. When trying to drive sales from loyalty program customers, think through what might be most effective (relational and intellectually themed content) and what could fall flat (attempting to shock the recipient with sensory or emotional content). And then post accordingly.

Read more from the original source:
Using Social Media to Connect with Your Most Loyal Customers - Harvard Business Review

The governments proposed legal framework known as Personal Data Protection Bill for the use of personal data and preventing its misuse which has been drafted on the lines of the European Unions General Data Protection Regulation (GDPR) is likely to impact sectors such as e-commerce, streaming platforms, financial services, IT among others.

Also read: Will Personal Data Protection Bill mean the death of personalised advertising?

The bill was tabled in the Indian Parliament on December 11 and is now being reviewed by a joint panel of Parliament. If it is passed in the current form and shape, the bill is likely to increase the cost of operations for marketing agencies and could pose obstacles in the implementation of personalised marketing campaigns. The bill has divided data into three segments personal, sensitive personal and critical personal.

The companies will have to take explicit consent from users before processing personal data and inform the user about the nature and categories of personal data being collected and the purpose for which the data will be processed. The user will also have to be informed about other entities the data will be shared with.

The proposed provisions that may hit the sectors:

1. The bill mandates that user consent should be obtained for storing and processing of personal data by companies.

Impact: So if a marketing network is storing your data and processing it to serve personalised ads to you, it will need user consent to do so.

2. Biometric data falls in the category of sensitive and cannot be processed unless specifically permitted by law.

Impact: For India's rising voice search industry, it could be a roadblock as they won't be able to process the data freely and would have to seek specific permission from the authorities. Experts believe this clause might be diluted during the review of the bill by a committee of MPs.

Google was asked to halt its analysis on the voice search after Article 66 was implemented by GDPR. If we look at it from the same perspective, yes, it would mean holding on until the regulations are strong enough to encapsulate how voice search results can bring in growth for marketers.

3. Data that has been defined as sensitive or critical has to be stored in India.

Impact: If a global ad network or platforms such as Google or Facebook are storing your health and financial data among other things, it has to be stored in India. Even for processing if it goes to their global headquarters, user consent will be required.

4. Empowers citizens to correct, erase and forget their personal data.

Impact: No social media network or search engine or an ad network can keep your data forever, unless you want it. Under the proposed provisions, the user has the right to erase. A consent manager will be there to enable users to gain, withdraw, review and manage their consent.

5. Large social media platforms to be tagged as significant fiduciaries.

Impact: Large scale data processors that are social media platforms will be tagged as significant fiduciaries by the government and will come under more compliance and responsibility, including offering voluntary user verification.

6. Companies may get their Privacy by Design policy approved by DPA.

Impact: To ensure that the companies are not compromising on user privacy, they may have to get their Privacy by Design policy approved by the Data Protection Authority.

7. Childrens data to be processed keeping in mind the rights and interests of the child.

Impact: When it comes to marketing to kids or serving content to kids, companies need to be more responsible and should have safeguards built in their system.

8. Penalty provisions for companies in noncompliance.

Impact: The bill provides for a penalty of up to Rs 15 crore or 4% of global turnover for companies that violate of provisions regarding processing personal data, processing personal data of children, transferring data outside India and other security safeguards.

Info@BestMediaInfo.com

View original post here:
The likely impact of Personal Data Protection bill on marketing and social media platforms - Best Media Info

More than 30 years after the invention of the World Wide Web, many marketers still describe marketing on digital platforms using the language of the mass media era. Hence, brands often continue to think about digital advertising in terms of purchasing 'inventory' or 'ad space' on platforms like Facebook and Google -space they will use to reach their target audience.

Image source: Gallo/Getty Images.

So, if these platforms are not media companies, what are they? The hint is in the name, big tech. They provide brands with a sophisticated stack of technology and tools that can be used to target dynamic and highly personalised messages to consumers based on who they are and what they are doing. Just like the programmatic platforms or email marketing companies, they are not content companies but IT and data companies.

Thinking of Facebook or Google as technology platforms will lead marketers to use them differently to the ways in which many brands do today. Rather than purchasing an ad, they will understand that they are paying for an opportunity to engage with the right customer at the right moment. Think of it as direct marketing to qualified leads, but made even more targeted and efficient through the power of customer data.

When one starts to think of the social and search platforms as tech stacks, the importance of integrating digital advertising engagements with the companys customer relationship management (CRM) and analytics tools also becomes obvious. Together, these tools enable a brand to understand the customer journey from initial contact with a customer to conversion and the post-conversion relationship.

The four phases of digital maturity developed by Boston Consulting Group offer a useful model for understanding how marketing and advertising are evolving in the age of big tech:

For example, when someone searches for a hotel in Cape Town, a brand should not serve a generic ad, but one tailored to the areas and price range they are looking at, based on a complete view of the customer.

Another instance: if a prospect starts an online application for vehicle finance and then abandons it at the last step, the bank could target them with ads encouraging them to complete the process. While some CRM systems might send such reminders via email or SMS, this functionality can be powerful when integrated with the media buying strategy.

To wrap up, here are five steps to success as brands evolve into multi-moment marketing organisations:

Continued here:
Think of social and programmatic platforms as big tech, not mass media - Bizcommunity.com