Monthly Archives: November 2013

How does Crowd Sourcing Compare to Professional Product Development?

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Marion Poetz and Martin Schreier examined ideas for new baby products developed by average customers and compared them to products designed by a world renowned team of in-house product developers for a large multinational corporation.  

The researchers chose the Austrian company BamedMam (www.mambaby.com) to participate in the study.  BamedMam sells 40 million products in over 30 countries and employs 400 people globally.  The firm has won global design prizes and it known for their innovative products. 

Seventy customers submitted their product ideas on the company website with the opportunity to earn free products in a raffle.   

The BamedMam CEO and Director of R&D assessed all the ideas using set criteria for evaluation purposes.  The ideas were grouped by topic and then randomly ordered so the evaluators did not know who had developed the idea, a customer or an in-house employee.  Each idea was evaluated based on a five point scale for 1) novelty 2) problem solving ability and 3) feasibility. 

The study found that the customer ideas were more novel and more effective in solving customer problems.  The professionals scored higher on feasibility, but lower than customers on the overall quality measure (Poetz & Schreier, 2012).  The bottom line is that customers may have better knowledge of their needs and how to solve them than professional developers.

Something for companies to think about huh?

Social Media vs. Email: Is Email Still Relevant?

Email is still an important component of a marketing strategy. The costs are low, so ROI can be very strong with relatively few conversions. In short, don’t forget email as part of your mobile marketing strategy.

Relevant Tools

Social media may be on the rise, but this does not mean that it is replacing email as the primary form of digital marketing. Think of social media as a supplemental advertising technique that will grant you greater exposure to potential customers, and email as a way of building the reputation of your brand and taking care of your already-loyal subscribers. Here’s why email is still just as (if not more) important:

 

1. Social media is fluid. It exists in short, concise messages that may or may not invite further involvement. Your social media updates are embedded in a slew of others that may be more interesting to your readers. How are you going to compete with the new photos of their niece’s birthday party, or a shocking news story? Your social media communication, while effective and necessary, is limited. With email you have direct, one-on-one engagement with your…

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Social Media: Marketing Reach Measurement

Though I don’t know the source of the data, the graph does suggest that certain platforms have more reach than others. As such, it is important to consider your social media goal in determining where to spend your resources. If your goal is search engine ranking, Twitter may help, but if it is engagement, you may need to consider reach.

Holly McLennan | Marketing Communications

Marketing Reach Measurement

It’s always a good idea to show the folks in the C-suite hard data. As marketers we need to be able to clearly communicate metrics in order to strategically plan, optimize, get budgets approved or just to be recognized for a job well done.

Here is one simple idea for measuring the marketing reach for each of your social media channels (& email).

Marketing Reach by Channel

This metric let’s you know how many people are subscribed or following you by channel. This is also a good indicator of how well the content you’re publishing is and if you’re engaging your network. If you’re not effectively growing your entire market reach it will be difficult to acquire new customers or grow leads. Or perhaps you need to invest more time in one channel over another to improve your overall marketing reach.

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Should Marketers Buy Popular Key Words?

The Marketing Science Institute publishes a very interesting marketing newsletter highlighting research in social media and sometimes mobile marketing.  In MSI Insights second issue in 2013 they summarize a study by Jerath and Ma titled “Consumer Click Behavior at a Search Engine: The Role of Keyword Popularity” which examines consumer online search behavior.  The researchers found that key words with low popularity were more likely to lead to clicks by viewers on both organic and paid results.  The data suggest that as consumers delve more deeply into examining a purchase the words become more specific to their needs and they are therefore more likely to click on those results.  The implication for marketers is that they should consider less popular key words and determine the likely scenarios for search as consumers get closer to the purchase.  More general, popular key words may play a bigger role earlier in the purchase funnel.

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