In our early post we touched on Online Presence and Best Technologies. Today, we will speak on the remaining three:
- Mobile Market Ready
- Real social media strategy
- Tier loyalty program
In 2018, I came across a concept called Mobile Market Ready. Note, this post is only providing a summary of the concept. In the US 45% of all purchases occur online and 73% percent of them use a smart phone. That’s big! What does this mean for business owners? Your business should enable to benefit from connectivity of data, mobility, and behaviors.
- Channel-straddling: Mirror your marketing to coincide with where your audience is spending their time. This includes, shopping, streaming, listening, and socializing. This does not mean opening a multiple social media account. What is the eco system of your consumer? Is your customer on a Mac Book Pro user, drives Mini and shops and Whole Foods? Position your products or services as complimenting to what the giants are offering.
- Close-loop data: It’s interesting that government, privacy advocates, and others push for data privacy; but these participant use data to develop not a persona but a context how your customer engage in different activities. Let’s say your customer who is a 25-year retail store management earning $55,000 a year enjoys gaming, checking social media accounts, coupons with discounted pizza on Instagram, reading history and watching videos; each one of these only offer snippets of the customers interactions. With the assistance of a marketer and data, create offerings that ties shopping, gaming, news, and video-watching together. Full immersion. Let’s your pizza business partnered with a local Boys Club to stream Halo Wars competitions and the local university provided players with battle scenarios used by Roman Empire. Couple data together from multiple sources provide a full spectrum of how you can generate opportunities.
- Mobile-first market development: Be mobile centric. TV, direct mail, magazines, radio, billboards, newspapers, and emails, at times are not optimum for the mom-and-pop business. In your marketing strategy, begin with content, information, and knowledge that is engaging and sharable. Not with advertising and promotions.
- It’s all about speed: Do not spend to much time on making marketing decisions. You have competitors and investors. If you are moving to slow, your investor may jump ship to your competitor. Focus on revenue, not profits; consumer who value your product versus what will you have left over. Value is rewarded with loyalty. In competitive pricing, there’s always someone will to seek an alternative.
Looks like there will be one blog post on growing with the decline of the American dollar.