Category Archives: Business

Business, Economy, Marketing

Content Marketing: Necessity vs Want

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Ferrari 458 Italia
Philipp Lücke / Foter / CC BY-NC

In any retail industry, marketers and advertisers can go one of two ways; market necessity or market want and desire. The two strategies can either lead to the same outcome or have drastic endings depending on the industry and product. Sears can promote a more expensive washer and dryer that goes above and beyond the call of duty, but if the average consumer only needs the basic models that cleans and dries the clothes and the price tag is within their means, they’ll pick that 9 out of 10 times. This is where businesses, informative blogs that help consumers make buying decisions, and magazines can either lose their customers or have an entire readership of clients of window shoppers who can’t buy the eye candy.

The automotive industry has this same problem, and with no help from car magazines and blogs, the dealership and consumer lose out. When you read your favorite car magazine, what are the cars they usually test drive? BMW’s, Mercedes Benz, Maserati’s, Ferrari’s and Porsche’s. While the magazine is creating eye appeal similar to the Sports Illustrated Swimsuit Edition, it’s not being much help to the reader in the long run. Yes, for a moment in time they’ll be dreaming of driving that car, but there is no long-term value for the consumer, and instead of making the transition of reading to buying, they just read and dream.

I’ve always held Cars.com to a high standard as they promoted cars you can actually drive and buy, but even they fell into the trap of showing off the eye candy. It was interesting to see the features the BMW i8 comes with. But with a starting price of $135,000, how many of the thousands of readers will actually visit their local BMW dealer, test drive it, and buy it? Maybe 1-2% at best.

This has become the growing problem in the retail world since the early 2000’s. Some companies promote want over necessity. But if a majority of consumers live within their means, they’ll buy necessity products that are usually cheaper, but the number of sales will be drastically increased. It’s the same argument as going basic or premium. Most consumers will lean more towards basic models of a product more than the premium, unless they see long-term value.

In the summertime, people are more apt to buy an air conditioner with more features because they believe it will bring them more value and a cooler house. If you decide to promote want over necessity, you have to distinguish the difference in products. Unlike candy or tickets to a concert or sporting event, cars, washers and driers, air conditioners, TV’s, and laptops are products you have to live with for a while, they’re not just a one-time, one day event.

Always market value. The consumer will make the purchasing decision that best fits what they need, but if you persuade them to go premium, you have to complete the sale and be prepared for the multitude of possible questions they may ask. Long-term value is what it all comes down to, and as marketers and advertisers, you must show them that they do just that. Car salesmen try this tactic, but if the buyer sees that the basic car meets the demand and need while also giving them value, they’ll not pay extra for the car with leather and heated seats. There is no question that they want it, but do they need it? When it comes to cars, most consumers will stick within their means, smaller items and products on the other hand that are much more affordable and don’t require monthly payments could entice the buyer to go with want over necessity.

At the end of the day, if you promote and advertise premium and want, make sure they provide the best value for the consumer. Of course, your target market will certainly decide what route you take. But if your target audience is broad with different income levels, be prepared to sell hard on both, while also making sure each individual buyer is satisfied, whether they buy necessity or want.

Blogging, Business, Economy, Marketing

Reddit: Are You Willing To Take A Journey Into Uncharted Waters?

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Reddit logo
Kinologik / Foter / CC BY

Recently I’ve been experimenting with Reddit, which I will now refer to as the site where SEO gets a dose of steroids. What is a combination of social media, and as Reddit describes themselves “The front page of the Internet”, I’m a little leery of using this site on a daily basis until I fully understand the ins and outs. However, if you’re willing to take the plunge into uncharted waters, at least prepare yourselves for what could either be the greatest thing you’ve ever done, or something you wish you never experimented with.

Reddit frowns upon self-promotion by posting content that you’re directly related to, and for good reason due to the possibility of spamming. But there is another good reason for this that may not have been the initial intent by the site’s creators. When you post your own content, you’re fully exposing yourself to the elements and the community that Reddit has. This isn’t Facebook, Twitter, or Instagram, this site is everything your parents or elders told you about the real world, it can get very cold and hostile. You risk the chance of being eaten alive, and it’s not because of the content you post, but because Reddit reaches 10 million people a day, there’s the possibility that you get viewers and readers who are not part of your niche market.

As a blogger of another site, I posted a few older articles for testing purposes to see what the response would be, and whether I’d gain more traffic. I got traffic alright, a few hundred views within an hour, but unfortunately it didn’t reach the people I really wanted. When you post a link, you have to submit it to a Subreddit, which is similar to a category, Google Adword, or hashtag, but these Subreddits are communities. There’s no way around them, you have to send your content to one of them. And this is where the problem lies.

Despite what I had read before signing up, it’s not as easy to curate your content to niche markets depending on what you write. Business, marketing, and economy related content works great, however these Subreddits have strict policies on self-promotional links. Other topics such as hobbies can easily be placed in the wrong categories and Subreddits that reach people who are not in your target audience or niche market. Unlike Twitter and Facebook, the Reddit community is a completely different group that can either be your best friend or worst enemy.

From a business standpoint, I’d stick with SEO and social media marketing, excluding Reddit, unless you’re going there to be part of a community. I’d be very careful as to what I’d post when it comes to your specific business. Back when MySpace first came out, parents were very concerned about kids exposing themselves to the Internet to a bunch of strangers, and while we can all laugh about it now, I as a millennial am concerned about Reddit because it’s so different from Facebook and Twitter.

I’m not writing this to completely discourage you from joining or giving you a false impression of Reddit, but there does need to be a warning label that comes with it when you’re trying to grow a following or sharing your own content. For some of you, it might be the best experience and decision you’ve ever made and some people are thriving off it, but if you’re trying to target a specific group of consumers or audience, there is nothing wrong with sticking to Facebook, Twitter, and SEO.

In conclusion, if you’re a blogger who is trying to reach a big audience, you can see exponential growth and notoriety within a day, but if you’re a niche blogger you risk having your content being read by people who you have no interest in reaching. It all depends on what your objective is when using Reddit. Personally, I will stick with more conventional forms of marketing and content sharing until I fully grasp Reddit and it’s community. Again, I’m not saying it’s bad, but just be careful if you are interested in joining. It’s powerful and I saw an increase in exposure, but not all of the results were positive.

Business, Economy, Marketing

What Are Your Thoughts On SEO and Social Media Marketing?

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The Apple Iphone 3GS gets a Phone.
Ninja M. / Foter / CC BY-NC-SA

There are plenty of discussions out there that you’ll find on the Internet and on social media platforms discussing SEO, social media marketing, and what would be better for marketing. But rarely, if ever, do people who start the discussions ask the audience, group members, or loyal readers what they prefer, or what’s working best for them. Self-proclaimed social media gurus live and die by social media marketing, but they never ask marketers, business owners, or even the individual blogger what social media platform is bringing in the most traffic. SEO has proved to be effective for businesses, but how effective?

As we all know and have heard, what works for one business, might not work for the other. Some industries thrive off of social media platforms such as Facebook, Twitter, and Instagram, while other, more traditional industries still get their best results through SEO and websites. Bloggers can also be part of the discussion as the topic they write about greatly affects how their marketing approach will be. When it comes to talking about products, web based content would be most preferred with social media reinforcing the content that is being shared. Law offices, doctors offices, and other services that can’t be explained through pictures and 140 character tweets would fair better by using SEO and websites filled with content to ensure the potential customer that they’re making the right decision.

So what are your thoughts on SEO and SMM? Which do you prefer and why? Do you incorporate both into your marketing strategy? Which is seeing better results? It’s one thing to say social media marketing is better than SEO, but it’s quite another to hear what’s really being the more effective strategy for small and big businesses alike. Understanding what’s working best is how everyone can profit in the end. At the end of the day, both SEO and SMM are taking up your time and money, but which one is worth the investment? Finding out what works best will save you a lot in terms of money and time, and with marketing being an integral part of a business strategy, it’s every important to learn what is working best in your industry and what isn’t.

Business, Economy, Marketing

Your Specialty Is What Creates Value For Others

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Value Unused = Waste
Kevin Krejci / Foter / CC BY

It’s safe to say that one point in your life you’ve asked yourself “Where do I fit in?” This question can pertain to a sports team, group project, or the business strategy you put in place before acquiring clients. It might also be safe to say that you’ve tried mirroring either a peer or other business to try fitting in and replicating what they do because they’re successful in that particular area. Usually the results weren’t what you had hoped, and that’s because you weren’t utilizing your own strengths, skills, or that one intangible asset your friend or business across town didn’t have.

By not using your strengths, you’re not only hurting yourself, but others around you who could have benefitted from your skills and specialty. Your strengths are what creates value for your clients, co-workers, and friends around you.

Having been in the sports journalism industry, it can be very hard to outshine other writers and get noticed by a wide range of viewers. By trying to be like other writers, posting the same type of content, writing a post-game article that fans could read from a number of different writers, and not putting your own informative input out on the web, will surely make your content invisible. You must find your specialty or niche that not many, if any are writing about, but you know there is a target audience that will benefit and enjoy reading your unique content that they can’t get anywhere else. Whether it’s discussing player performance, what different sets of plays a team runs throughout the game, what worked or didn’t work for the team, are just a few ways to enter into what appears as a saturated sports journalism market.

In business, you’ll find yourself dealing with the same scenario. What can you do that gets you noticed, acquire clients, and provide value to your customers? Is there a market in the industry that your business is a part of that rival companies aren’t serving to a target group that you can be successful in? With laptops and iPads making home computers and desktops obsolete, there are still many small businesses that use desktop computers in the office. If you have a computer repair business, you have a niche market that still needs servicing but is slowly being forgotten about. Or, if your a software and technology consultant, you have a market where your can help these small businesses move to a more efficient way of getting work done.

Your specialty is what brings value, and that can’t be emphasized enough. Don’t ever feel that you’re inferior, or question your skills because no one else is doing what you’re trying to do. The truth is, businesses need people who can provide value in some way, shape, or form. If your skills can save businesses time, money, and resources, go out there and market your business and the services you provide. Thinking outside the box is sometimes frowned upon throughout our lives, but the reality is, the world we see around us was created by those who didn’t think like everyone else.

This can be applied in every aspect of life, whether it’s school, starting a blog or business, to even friendships and relationships. Providing value through your skills, experience, and knowledge is how you’ll become successful in anything you attempt to do. Don’t be conventional when there is a more efficient way of doing things. By being an individual and honing your skills, you’ll outshine everyone and they’ll see just how much you’re worth.

Business, Economy, Marketing

Battlefield Franchise: How Video Game Series Can Relate To Small Businesses

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Battlefield: Bad Company 2, Onslaught
SobControllers / Foter / CC BY

Businesses, big or small, can learn a lot from corporations’ mistakes whether that be from the products they sell and discontinue to the lack of innovation and change that consumers want to see. Some companies in the past were the cause of their own demise because they failed to listen to the consumer by not delivering what they wanted, giving the customer a worse product in the long run. The Battlefield franchise, makers of the Battlefield and Battlefield Bad Company games, is the best example for small businesses and how they must continue to provide quality products that consumers want and can’t get enough of.

As a former gamer who would play a few hours of Battlefield a night during my teen years, I’m quite familiar with the franchise as a loyal consumer. Battlefield Bad Company is still being raved about by fans nearly seven years after it was released in 2008, and the second installment has gotten just as much love, if not more. It’s been four years since the last Bad Company game, and since then consumers have been given subpar games, and worse then that, they’ve paid at least $100 if they wanted to become Premium members to get exclusive content and more maps to play on in multiplayer mode.

Recently the boss for Dice, the maker of the game, discussed with a gaming magazine as to why they haven’t released a Bad Company 3. The answer is rather shocking from a business perspective. The developers can’t understand why consumers loved the game so much. They’re not sure if it was the single player storyline, the characters in the game, or the fact that they’ve failed to replicate what they created for online usage.

My take: In general, since online gaming is what drives sales, single player story lines have become quite bland and boring, but not in Bad Company. The characters were funny, there was an actual storyline, and you had much more freedom on the maps than in the Battlefield games. The online play was crisp and fluid, rarely if ever were there glitches, never getting kicked out of a server due to lack of connection, and the gameplay was extremely fun and worth the time invested. Best of all, the online gameplay was so good it was worth forking out the extra cash to gain access to new game modes and maps.

What is so difficult about replicating and continuing the story? Since Battlefield 2 ends with the Russians advancing on the continental United States and the four main characters ready to take on the challenge there is a storyline for a third game.

As small businesses owners we have to listen to the consumer or we don’t eat or have a roof over our heads. The Battlefield franchise has been under fire (pardon the pun) for not delivering games worth playing to the consumer. According to bf4central.com, 7 million customers bought Battlefield 4, but today only 2% still play the game. That’s unacceptable in business terms. Recently the franchise released a beta version for a Battlefield where cops fight the war on crime. The beta was so bad, the game is now being postponed until sometime next year.

The consumers have spoken, and they want either a Bad Company 3 or something like it. Businesses, both large and small need to listen to their customers and provide the best products and services they have to offer. Gamers might be willing to pay an extra $60.00 for a premium membership if the game itself is premium.

In business you can’t ignore the customer, and that’s what they’re doing. If you have a great product why change it? The Ford Taurus was once the #1 selling car in the United States, after they changed the appearance sales figures plummeted. The gaming industry is no different. Either provide the customer with what they want, or go in a different direction and target another customer base. It’s impossible to run a profitable business if you fail to understand and listen to your customer.

Now it’s time to see what the Battlefield franchise is made of. If they don’t go back to their roots, customers will spend their money on a different war franchise that will listen to their wants and desires in a video game, both in single player and multiplayer modes.

Business, Economy, Marketing

With A New Economy, Is It Time To Have A New Attitude Towards Internships?

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04 My Yahoo Cubicle
nicwn / Foter / CC BY-SA

Seven years after the beginning of the recession, the economy still isn’t where was pre 2008. Close to 33% of eligible adults have dropped out of the labor force, another third is either freelancing or starting businesses, and the final third are active in the labor force, whether that be full-time or part-time work. For Millennials, we are now going to be a part of this new economy, and the decisions we make could put us in one of the above groups. Internships have always been a way to gain experience and skills during, or shortly after college before applying for full-time jobs. But in 2014, is it time to have a new approach and attitude towards internships and the opportunities that they bring?

Some former interns have come out accusing companies of not paying them well, or paying them at all. While I’m no lawyer and not an interpreter of the law, I’m not going to discuss whether it’s legal or not. However, when you decide to be an intern you’re not an employee and the company doesn’t have to treat, or pay you like one. There is another form of compensation that internships provide, and that’s in experience, confidence, and learning how to navigate through an office setting. Seeing as though many young people are turning to starting their own business because of limited job opportunities, maybe it’s time to look at internships as a preparation and confidence booster towards starting businesses.

Some interns have proclaimed that they had multiple roles in the company, learning multiple aspects and performing an array of tasks. For small business owners overseeing, and at least having a hand in different departments and aspects of the business is necessary. These interns now have the experience of multi-tasking, and grasping the magnitude of being a part of multiple roles within a company.

Now rest assured there will be a majority of interns who won’t start a business or freelance, but for the small group who will, internships can be that confidence booster that they need to get over the initial fear of starting a business. Fear is what stops people from doing anything; all they need is self-confidence and a business mindset that tells them that they can succeed and be their own boss. Internships bring a lot to the table, but money should never be the top priority when seeking a summer intern job.

Get the experience and confidence that you need to be successful. Take advantage of the opportunity that internships bring. If you still decide to become an employee and not run a business, you’ll still walk away from an internship with self-confidence, business skills, and the ability adapt to different situations. Employers have a growing fear that Millennials aren’t ready to join the workforce because they’re not being taught the skills to succeed in an office environment. Get an internship and learn. That’s the best way to get real world experience before fully submerging yourself into the labor force.

Business, Economy, Marketing

Early Christmas Commercials Sign Of Poor Economy?

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Cartier on the Champs-Élysées at Christmas
Stuck in Customs / Foter / CC BY-NC-SA

The Stock Market seems to hit all-time highs every week, but stepping away from Wall Street, what’s happening on Main Street? Labor participation rates are still at 30 year lows, 92 million Americans are not in the labor force, and eerily similar to 2007-2008, retail stores and car dealerships are promoting holiday specials; completely jumping over Thanksgiving and getting straight to the holiday season. Why? Are retail sales that poor? Are they trying to get a leg up on Amazon and Ebay? Are they anticipating lower sales figures this season?

During a normal holiday season, Black Friday sales promotions are usually the first commercials you see, and speaking of Black Friday, some stores are opening up on Thanksgiving and extending sales specials through the entire week. This really has been unprecedented as this can’t merely be just about generating more profits, but trying to leverage a slower economy by getting consumers into stores with unbeatable sales specials.

Car commercials have always been pushed during November and December, but it’s a surprise to see brands such as Jeep coming out with a holiday commercial of their own. Mercedes Benz and Lexus are constantly pushing sales this time of year, so it’s no surprise to see multiple commercials from these companies any given day. Leasing has been on the rise as it’s a more affordable options for consumers. People are slowly moving away from buying new and looking at leasing options. Currently the percentage of Americans leasing has surged to 20% since the recession in 2008, and that will probably grow heading into next year.

Having witnessed what the recession did in 2008, I wouldn’t go as far to say that we’re now dipping back into some volatile times such as those. However, with the mix of holiday commercials already being pushed in almost every sector, Santa already showing up in malls, and decorations being displayed this early, it’s possible that we might be seeing the symptoms of a slowing economy.

While being part of the millennial generation, I’ve also lived through the height of the American economy when it was at it’s strongest. Those days do not compare to what’s happening now. Ten years ago the holidays were anticipated but it was usually after Thanksgiving all the commercials started popping up on the TV screen. History tends to repeat itself, and seeing that retail stores and malls are already promoting Christmas this early in the season such as 2008, this could be sign of where we’re heading after January 1st and into the first quarter of next year.