Marketing
Marketing is a form of promotion for a product or service in a specific market for a specific purpose (i.e. one or more nodes in the Trial, Awareness, Repeat cycle)
Contents
Techniques
Market Research
Market Research is a broad category of techniques used to determine the need for your product/service, a product/service's likelihood to sell, target-market demographics, and/or desirable store locations for it to be sold/offered. There are numerous ways to uncover this information, from online research to focus groups to counting customers.
- wikipedia: Market research
- Market Research, inc: https://www.marketresearch.com/ (leading provider of Market-focused reports/whitepapers)
Targeting
Targeting is adapting a given marketing message such as an advertisement, promotional offer (or possibly just a user interface or data set/result) for a particular user based on some criteria or metadata related to what you know about them. Targeting could be based on any number of criteria, from location (i.e LBS) to demographics such as language, income, age, culture, religion, beliefs, preferences, histories, relationships, societal identification/hierarchy, group memberships, personality classification, etc.
- Geographic - Addresses, Location, Climate, Region
- Demographic - Gender, age, salary, career, education (aka. "socioeconomic segmentation")
- Psychographic - Attitudes, values, religion, and lifestyles
- Behavioral - interests, occasions, degree of loyalty
- Product-related - relationship to a product/service, "product user group" self-identification, familiarity
Targeting by Demographics has long been the de facto practice in Marketing, however new and more holistic approaches are emerging.
- wikipedia: Target market[1]
- Know Your Target Market: http://www.entrepreneur.com/article/202334[2]
- How to Define Your Target Market: http://www.inc.com/guides/2010/06/defining-your-target-market.html[3][4]
Habit-formation
The premise of Habit-formation theories for Marketing are centered around the idea that Habit is more powerful than thought or free-will.
- Cue
- Routine
- Reward
The belief is that it is more important to think about the repeat purchases phase, and how it occurs within the whole consumption pattern, rather than focusing on first trial of a product/service or exactly how impressive the product/service or company offering it is. The focus is simply that an advertisement or marketing message can trigger a cue, which when followed through repeatedly forms a routine that is likely to create a specific reward. Prime examples of this approach are the sudden widespread acceptance of Toothpaste (and by that matter Toothbrushes and Toothbrushing) and Deoderant (and by that matter Soap and Showering) as essential daily personal hygiene products/activities.
- The Power of Habit (EBOOK): http://solucaoperfeita.com/wp-content/uploads/2011/02/The-Power-of-HABIT.pdf
- The Power of Habit - Hopkins' Habit Loop approach: http://www.slate.com/articles/arts/culturebox/2012/02/an_excerpt_from_charles_duhigg_s_the_power_of_habit_.html
- Scientific Advertising (EBOOK): http://www.scientific-advertising.co.uk/[5][6][7]
- Hopkins' 7 Rules for Habit formation: [8]
- The 7 Ps of Marketing: http://www.entrepreneur.com/article/70824
- 10 Rules for More Effective Advertising: http://americanresearchgroup.com/adrules/
- The 7 Habits of Highly Effective People (EBOOK): http://www.depts.ttu.edu/upwardbound/books/the-7-habits-ofhighly-effective-people.pdf
JTBD
The Jobs-To-Be-Done (JTBD) framework is an alternative way to look at customer motivations in the context of business transactions. Marketing techniques typically slots customers by attributes such as age ranges, race, marital status, and other categories that ultimately create products and entire categories too focused on what companies want to sell, rather than on what customers actually need and want to buy. JTBD is a tool for evaluating the circumstances that arise in customers’ lives leading to purchases. Customers rarely make buying decisions around what the "average" customer in their "category" may do, but they often buy things because they find themselves with a problem they would like to solve. With an understanding of the "job" for which customers find themselves "hiring" a product or service, companies can more accurately develop and market products well-tailored to what customers are already trying to do.
Building upon the JTBD concept, there are two big ways it helps us create better products:
- Suggests principles and practices so we understand the context surrounding customer situations before and after they buy & use products.
- After understanding a customer's Job and it's context, the framework helps us translate these understandings into marketing and product design decisions.
- JTBD: http://jobstobedone.org/
- Jobs-To-Be-Done Framework: https://strategyn.com/jobs-to-be-done/[9][10][11]
- Innovator Toolkit -- Technique 1 - Jobs to be Done: http://web.archive.org/web/20180313182729/http://innovatorstoolkit.com/content/technique-1-jobs-be-done[12]
- What is jobs-to-be-done approach to innovation?: https://www.quora.com/What-is-jobs-to-be-done-approach-to-innovation
- Understanding the Job: http://www.youtube.com/watch?v=f84LymEs67Y
- The "Jobs-To-Be-Done" Framework explained: https://medium.com/the-job-to-be-done/replacing-the-user-story-with-the-job-story-af7cdee10c27 (an approach to storyboarding)[13][14][15]
The Value Plan
Service Dominant Logic (SDL) argues that VALUE is the main currency and focus of marketing, which is delivered through SERVICE. Products, while fundamentally important in the practice of marketing, are platforms for the co-creation and delivery of value through service.
- Awareness
- Trial
- Repeat
Awareness, Trial & Repeat are the premise that lead to The Value Plan, but it is in many ways an evolution reflecting societal transformations and changes in consumer behaviour already underway in the 21st century.
- The Value Plan: http://www.the-value-plan.com/ | BUY
- GapMinder: http://www.gapminder.org/
Strategy
SWOT
- wikipedia: SWOT analysis
- SWOT Analysis -- What It Is and When to Use It: https://www.businessnewsdaily.com/4245-swot-analysis.html
Porter's 5 Forces
- wikipedia: Porter's five forces analysis
- Porter's Five Forces -- Analyzing the Competition: https://www.businessnewsdaily.com/5446-porters-five-forces.html
Blue Ocean
- wikipedia: Blue Ocean Strategy
- HBR -- Blue Ocean Strategy: https://hbr.org/2004/10/blue-ocean-strategy
- Blue Ocean Strategy (BOOKS): https://www.blueoceanstrategy.com/
Pivoting
Changing primary product/service strategy by completely switching industry sectors or vastly adapting existing product/services.
- 14 famous successful Business "pivots": https://www.forbes.com/sites/jasonnazar/2013/10/08/14-famous-business-pivots/
Metrics
Total Visits
Click Through Rate
Channel-Specific Traffic
New Visitors/Sessions
Bounce Rate
Customer Acquisition Costs
Commonly calculated as:
Cost Per Lead x Conversion Rate
Cost Per Lead
Conversion Rate
- 5 Simple Changes That Can Drastically Improve Your Conversion Rate: https://hackernoon.com/5-simple-changes-that-can-drastically-improve-your-conversion-rate-ad495cbf0a9c
Customer Retention Rate
Customer Lifetime Value
- Don’t get left behind - Return on ad spend is out, customer lifetime value is in: https://www.thinkwithgoogle.com/marketing-resources/experience-design/maximizing-customer-lifetime-value/
Return On Investment
Return On Investment (ROI) is a measure of the benefits (as a historical analysis) or the perceived benefits (as a ).
ROI = Benefits / Costs
Digital Marketing
CDP
Customer Data Platform (CDP).
- How To Build Support For A Customer Data Platform: https://www.mediapost.com/publications/article/360747/how-to-build-support-for-a-customer-data-platform.html
Landing Pages
- wikipedia: Landing page
- How to Optimise Landing Pages for Lead Generation: https://offers.hubspot.com/thank-you/how-to-optimize-landing-pages-for-conversion
[33] [34] [35] [36] [37] [38] [39] [40] [41] [42] [43] [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56]
Tools
- Internet Marketing -- ROI Calculator: https://www.poweredbysearch.com/marketing-roi-calculator/
- UserInterviews: https://www.userinterviews.com/ (online R&D, direct user feedback, and/or "focus group"-type tool)
Resources
- Noob Guide to Online Marketing (INFOGRAPHIC): http://assets.unbounce.com/s/images/noob-guide-to-marketing-infographic-1800.png
- The Ultimate Guide For Marketing Teams: https://www.atlassian.com/software/confluence/marketing/guide[57]
- Building Value through Marketing -- A Step-by-Step Guide (BOOK by Philip Sugai): http://www.routledge.com/Building-Value-through-Marketing-A-Step-by-Step-Guide/Sugai/p/book/9780367472863 (evolution of prior work on "The Value Plan" course)
- Misaimed Marketing: http://tvtropes.org/pmwiki/pmwiki.php/Main/MisaimedMarketing
- Mobile Marketing Statistics compilation (2018): https://www.smartinsights.com/mobile-marketing/mobile-marketing-analytics/mobile-marketing-statistics/
- UNDERSTANDING THE “WHY” IN CUSTOMER EXPERIENCE: JOURNEY MAPPING MEETS JOBS TO BE DONE: https://www.newmarketsadvisors.com/uploads/7/0/3/6/70366435/journey_mapping_meets_jobs_to_be_done.pdf[58]
- Operations Management 101 (SLIDES): https://www.slideshare.net/tanergokalp/operationsmanagement-919slidespresentation-090928145353-phpapp01
- PWC - Customer Experience is everything (REPORT): https://www.pwc.com/future-of-cx
Tutorials
- Marketing Automation Made Simple -- A Step-by-Step Guide: https://neilpatel.com/what-is-marketing-automation/
- 50 Ways to Get Your Site Noticed: http://net.tutsplus.com/articles/web-roundups/50-ways-to-get-your-site-noticed/
- GDPR -- Email Marketing in the Age of Digital Privacy: https://www.business.com/articles/email-marketing-and-data-privacy-laws/
- The 5 C’s of Ecommerce Marketing: https://www.practicalecommerce.com/the-5-cs-of-ecommerce-marketing
- Accelerate Ecommerce Marketing with the "RFM" Model: https://www.practicalecommerce.com/accelerate-ecommerce-marketing-with-the-rfm-model (Recency, Frequency, Monetary-value)
- 7 Customer Retention Strategies for 2021: https://www.practicalecommerce.com/7-customer-retention-strategies-for-2021
External Links
- wikipedia: Marketing
- wikipedia: A/B testing
- wikipedia: Vertical market
- wikipedia: Horizontal market
- wikipedia: Product-market fit
- wikipedia: OODA loop (Observe, Orient, Decide, and Act)
- Personal Branding: http://hubpages.com/hub/You-Branding
- CBC -- Age of Persuasion: http://www.cbc.ca/ageofpersuasion/
- Generation Z - Born in the digital age: http://www.japantoday.com/category/lifestyle/view/generation-z-born-in-the-digital-age
- 4 Reasons Brands Should Sell Directly To Consumers Online: http://marketingland.com/4-reasons-brands-sell-directly-consumers-online-141226
- Forbes Insights Releases First-Ever 50 Most Engaged Companies List: https://www.forbes.com/sites/forbespr/2017/10/25/forbes-insights-releases-first-ever-50-most-engaged-companies-list/
- Porter's Five Forces .VS. Blue Ocean - Which One Is Relevant?: https://www.linkedin.com/pulse/porters-five-forces-vs-blue-ocean-which-one-relevant-cissoko-mamady/
- Rita Gunther McGrath on the End of Competitive Advantage: https://www.strategy-business.com/article/00239?pg=all
- What Patagonia Can Teach Us About Cause Marketing: https://www.livechatinc.com/blog/cause-marketing/
- The Diminishing Returns of Short-Term Marketing Tactics: https://www.linkedin.com/pulse/diminishing-returns-short-term-marketing-tactics-tara-hunt/
- Publicis Groupe Stock Takes Another Tumble In Wake Of Weak Results: https://www.mediapost.com/publications/article/331648/publicis-groupe-stock-takes-another-tumble-in-wake.html
- Mary Meeker's Annual Internet Trends Report And What Search Marketers Should Know: https://www.mediapost.com/publications/article/336964/mary-meekers-annual-internet-trends-report-and-wh.html
- Publicis Groupe Bespoke Team Retains Novartis: https://www.mediapost.com/publications/article/339346/publicis-groupe-bespoke-team-retains-novartis.html
- Why Direct Marketing (Email, Website Visits) Drove 58% Of in-bound Traffic To Online Retailers The First 3 Weeks Of November: https://www.mediapost.com/publications/article/344874/why-email-website-visits-drove-58-of-traffic-to.html
- 40% of marketers now use shoppable video ads, underpinning 'storeless' economy: https://www.marketingdive.com/news/marketers-using-shoppable-video-ads-to-grow-40-this-year-underpinning-st/588679/
- Amazon Live Video Shows Us The Future Of E-Commerce: https://www.forbes.com/sites/kirimasters/2020/11/16/amazon-live-video-shows-us-the-future-of-ecommerce/
- Marketing 101 - Marketing Isn’t What You Think It Is, Freelancers: https://daedtech.com/marketing-101-marketing-isnt-what-you-think-it-is-freelancers/
- 1,000 True Fans (by Kevin Kelly): https://kk.org/thetechnium/1000-true-fans/
- This Is How The White Population (in America) Is Actually Changing Based On New 2020 Census Data: https://www.npr.org/2021/08/22/1029609786/2020-census-data-results-white-population-shrinking-decline-non-hispanic-race
- US Asian popuplation as of 2020 Census: https://www.nytimes.com/interactive/2021/08/21/us/asians-census-us.html
References
- ↑ wikipedia: Market segmentation
- ↑ The Ingredients of a Marketing Plan: https://www.entrepreneur.com/article/43026
- ↑ * Target Marketing: http://www.thebalance.com/target-marketing-2948355
- ↑ Six steps to defining your target market: http://www.marketingdonut.co.uk/marketing/marketing-strategy/your-target-market/six-steps-to-defining-your-target-market
- ↑ Scientific Advertising (PDF): http://www.scientificadvertising.com/ScientificAdvertising.pdf
- ↑ Scientific Advertising (PDF): http://copywritersroundtable.com/wp-content/uploads/2009/09/Scientific_Advertising.pdf
- ↑ Scientific Advertising by Claude Hopkins: http://www.amazon.com/gp/product/1453821082/
- ↑ 7 Things I Learned about Digital Marketing from Claude Hopkins: http://www.smedio.com/7-things-i-learned-about-digital-marketing-from-claude-hopkins/
- ↑ Jobs to be Done framework: http://www.christenseninstitute.org/key-concepts/jobs-to-be-done/
- ↑ JTBD (visual summary): http://jtbd.info/
- ↑ JTBD -- Customer-centered Innovation Map: https://strategyn.com/customer-centered-innovation-map/
- ↑ Jobs to be Done (JTBD) explainer: https://cihconsulting.co.uk/jobs-to-be-done/
- ↑ A beginner’s guide to the Jobs-To-Be-Done framework: http://shapeandsound.com/a-beginners-guide-to-the-jobs-to-be-done-framework/
- ↑ What is jobs-to-be-done approach to innovation?: http://www.quora.com/What-is-jobs-to-be-done-approach-to-innovation
- ↑ Technique 1 - Jobs to be Done: http://innovatorstoolkit.com/content/technique-1-jobs-be-done
- ↑ Strategy, clarified: https://medium.com/@twaegemans/strategy-clarified-e49d3903406
- ↑ BHR -- Dr. Michael Porter - What is Strategy? https://drive.google.com/file/d/0ByioTBs-2owzRS1ITE8wZXpPRGc/view
- ↑ HBR -- Dr. Michael Porter - The Five Competitive Forces That Shape Strategy: https://drive.google.com/file/d/0ByioTBs-2owzMVVuNnVXQ0g2cWs/view
- ↑ The Five Competitive Forces That Shape Strategy: https://www.youtube.com/watch?v=mYF2_FBCvXw
- ↑ TED Talks -- Michael Porter - What is the Shared Value Model?: https://www.youtube.com/watch?v=l8EskAiOkNk
- ↑ Michael Porter -- Why business can be good at solving social problems: https://www.youtube.com/watch?v=0iIh5YYDR2o
- ↑ Blue Ocean Strategy (AUDIOBOOK): https://www.youtube.com/watch?v=iHiFwCpP1iY
- ↑ Blue Ocean Strategy -- Creating Your Own Market: https://www.businessnewsdaily.com/5647-blue-ocean-strategy.html
- ↑ What are Red & Blue Oceans?: https://www.blueoceanstrategy.com/what-are-red-blue-oceans/
- ↑ Blue Ocean Strategy Summary: https://www.youtube.com/watch?v=8cVS7YEW2Fk
- ↑ The Explainer -- Blue Ocean Strategy: https://www.youtube.com/watch?v=2N3XqyuOwIM
- ↑ Understanding The Blue Ocean Strategy: https://www.youtube.com/watch?v=0CJQBN3OOj0
- ↑ 10 Online Marketing Metrics You Need To Be Measuring: https://www.forbes.com/sites/jaysondemers/2014/08/15/10-online-marketing-metrics-you-need-to-be-measuring/
- ↑ The 2019 Google Ads Industry Benchmarks Your Digital Advertising Team Must See (Data): https://instapage.com/blog/google-ads-industry-benchmarks
- ↑ Why Experiment?: https://medium.com/@johnpcutler/why-experiment-1169339b2ddc
- ↑ 10 ways how to NOT make your product a feature factory: https://hackernoon.com/10-ways-how-to-not-make-your-product-a-feature-factory-cefe7a7759c6
- ↑ Every Product Needs a North Star Metric -- Here’s How to Find Yours: https://amplitude.com/blog/2018/03/21/product-north-star-metric
- ↑ Conversion Centered Design (E-BOOK): https://offers.hubspot.com/conversion-centered-design
- ↑ What is a Landing Page?: https://instapage.com/what-is-a-landing-page
- ↑ What is a Landing Page? Beginner's Guide to Landing Pages: https://mailchimp.com/marketing-glossary/landing-pages/
- ↑ LandingPage .vs. Homepage, Lead Generation vs Click-Through: https://unbounce.com/landing-page-articles/what-is-a-landing-page/
- ↑ The 13 Most Effective Ways to Increase your Conversion Rate: https://www.crazyegg.com/blog/increase-your-conversion-rate/
- ↑ 7 Landing Page Trends You Should Consider for Higher Conversion Rates: https://instapage.com/blog/landing-page-trends
- ↑ The 7 Principles Of Conversion-centered Design -- a Framework For Designing Effective Marketing Campaigns: https://unbounce.com/docs/The%207%20Principles%20of%20Conversion-Centered%20Design.pdf
- ↑ 35 techniques to improve Landinge Page conversion: https://instapage.docsend.com/view/fzwq453
- ↑ Landing Page Video Best Practices - Is Animated or Live Action Better?: https://www.crazyegg.com/blog/landing-page-video/
- ↑ Landing Page Video -- 22 Rules For Top-Converting Video Creation: https://klientboost.com/cro/landing-page-video/
- ↑ Bringing Landing Pages to Life With Animation: https://www.snapapp.com/blog/bringing-landing-pages-life-animation/
- ↑ 20 Great Examples of Subtle Motion in Web Design: https://line25.com/articles/20-great-examples-of-subtle-motion-in-web-design
- ↑ Best landing page design examples: https://search.muz.li/inspiration/best-designed-landing-pages/
- ↑ The Best Landing Page Designs to Inspire Your Next Layout: https://unbounce.com/landing-page-examples/best-landing-page-design-examples/
- ↑ 19 of the Best Landing Page Design Examples You Need to See in 2019: https://blog.hubspot.com/marketing/landing-page-examples-list
- ↑ 20+ Free HTML Landing Page Templates Built With HTML5 and Bootstrap 3: https://themewagon.com/free-html-landing-page-templates-responsive-multiverse/
- ↑ Top 40 Free Landing Pages Templates Built With Bootstrap Frontend Framework 2019: https://colorlib.com/wp/free-bootstrap-landing-pages-templates/
- ↑ Free Landing Page Templates: https://www.websitebuilderexpert.com/designing-websites/free-landing-page-templates/
- ↑ LeadPages -- templates: https://www.leadpages.net/templates
- ↑ MailChimp -- Landing Pages: https://mailchimp.com/features/landing-pages/
- ↑ WIX -- Landing Page templates: https://www.wix.com/website/templates/html/landing-pages
- ↑ Envato -- ThemeForest - Landing Pages & Templates: https://themeforest.net/category/marketing/landing-pages
- ↑ Create a beautiful Landing Page animation with CSS: https://codeburst.io/create-a-beautiful-landing-page-animation-with-css-8f4501c20c8e | DEMO
- ↑ Landing Pages vs Lead Ads: The $2,000 Facebook Experiment: https://adespresso.com/blog/facebook-landing-pages-vs-facebook-lead-ads-which-is-better/
- ↑ 4 reasons your marketing team needs a new approach: https://www.atlassian.com/blog/confluence/ultimate-guide-for-marketing-teams
- ↑ Five Steps for Creating Customer Journey Maps You Can Actually Use: https://medium.com/new-markets-insights/five-steps-for-creating-customer-journey-maps-you-can-actually-use-88c642e57e25
See Also
Product | Service | Retail | Advertising | CSR | Business Model | Ads | Statistics | Metrics | BT/LBS | Privacy