Tag Archives: Marketing

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.

Business, Marketing

Change Can Be Extremely Dangerous In Business

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Change Priorities
Christine ™ / Foter / CC BY-NC-ND

As the old saying goes, “If it ain’t broke, don’t fix it.” Yet in the 21st century, its common to find businesses and blogs that distribute content constantly change their identity, products, or process behind the day-to-day operations. While the terms “revolutionizing an industry” and “innovation” are becoming the first tagline you hear when someone presents their business or products, being traditional or being innovative within reason really should be the strategy moving forward. Change in a business can be a good thing, but only when consumers react well to it.

Marcus Lemonis, who stars in The Profit on CNBC, always reiterates the importance of people, process, and product. If the process is broken it can affect how the product sells and how effective and valuable people are in their respective positions in the company. If the process isn’t broken and customers continue buying a business’ products, or viewers return watch or read content from their favorite blogs or vloggers, there is no reason to experiment to make a change. The time for experimenting was when the business or blog was getting off the ground, not during the time when your customer base is growing, or your following on social networks or blog is expanding.

Too often the business owner decides that the business needs to go in the direction that they themselves want, but all they’re doing is tainting their image and will lose customers who may never return. Consumers of any sort don’t like drastic change, especially if they enjoy what your business or blog has to offer. This also coincides with consistency. If you’re consistently posting content, and then abruptly stop for a few days, you’re not only depriving your following of something they want, but you’re giving someone else who has a similar blog the opportunity to steal your followers.

If you’re an individual blogger or a very small business, and the process behind how you operate on a daily basis is working, there is absolutely no reason to make a change. Sure, you can be more aggressive when it comes to promoting your brand, but as long as that doesn’t affect the process, you can make those necessary changes to grow your customer base.

As business owners, we see our business as something we have total control over. While that is partially true, the consumer does have the final say in how many changes you make to the business, it’s product, and process. If your blog or business is growing at a steady rate, but you want to grow exponentially, you must analyze what is currently working and put forth the energy to kickstart the growth. Remember, while it is your business, its your customers that ultimately help you pay the bills. You may want to go in the direction that you see fit, but if your customers’ visions don’t align with that, you’re going to be in for a surprise when your sales figures begin to falter or the number of views on your blog’s content begin to diminish.

You are in essence creating a tradition to go along with your brand. While your brand is what defines what your business is and how its different from other companies in its industry, the tradition of being loyal to your customers will be what carries your business to the next level. To take a page out of Marcus Lemonis’ book, the people, process, and product are the most important aspects of a business, and its your brand and tradition that defines who you are and is the image your customers see when they buy your products or visit your website.

Business, Marketing

Branding A Hobby: Why Simple Marketing Is Worth The Investment Of Time

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In this day and age of blogging, vlogging, Youtube channels, and social media platforms, people can turn a weekend hobby into something more serious, that if there is a demand for it could lead to bigger and better opportunities that could result in making a profit. Many of these hobbyists continue chugging along, putting countless hours into something they love, but have a hard time getting noticed due to bigger or more experienced blogs, bloggers, or Youtube channels. To remedy this, there are resources and tools at the disposal of these people to help grow their following base, and create that interest that’s been lacking without simple marketing techniques.

Because you’re on the Internet, social media is the best way to go when creating exposure. Also known as social media marketing, sharing content on your social media platforms that connect to your blog or YouTube channel will pay immediate dividends, especially when it comes to Twitter. Hashtags can be used to reach like-minded individuals who are actively searching for content in that particular hobby, and you can connect with those people as well to grow a socially engaged audience. By posting on Twitter, you’re also putting out content that could be read by companies or professionals in the industry that your hobby is a part of, something that you can’t do on Facebook as easily since you’d have to look to advertising.

Twitter alone can be a powerful tool to help grow a following. With Facebook, you can share not only your content but the content of other blogs and businesses in that field. Commenting regularly on posts and giving out quality, well thought out opinions can also create exposure, as other commenters might be interested in what other information you could provide. But don’t spam these Facebook pages with, “Like our page” or other generic comments that could prove to be costly in both the short and long term.

The biggest mistake some Youtubers make is that they don’t promote their social media pages. A majority of the views videos get on Youtube are from people who don’t have Youtube accounts of their own, which means they won’t be subscribing and will not receive notifications when you post a new video. That’s where promoting your Facebook page and Twitter account is important. At the end of each video mention your social media accounts and what they offer that might be different from Youtube, give them a reason to follow. Make the viewers aware that you’re on other sites where you can be reached or followed anytime, anywhere.

The 21st century has been very kind to hobbyists, and it’s important to take advantage of the opportunities technology has given you. Social media marketing takes some time and effort, but if you’re willing to put in the time to post blog articles and YouTube videos, you certainly have enough time to grow a following on social media and get the exposure you deserve.

Business, Marketing

Finding Your Niche And Sticking With It Is The Key To Success

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Business owners, vloggers, bloggers, and websites all thrive on one thing; being the masters of their niche market. For some, going mainstream and facing the giants of an industry that’s already saturated can work, but unless they bring value to the consumer they’re going to be overlooked. While everyone goes macro, small businesses and individual bloggers must think micro when starting out. Being unique is what gets exposure, and the creativeness and passion behind what these people are trying to accomplish will show much more than those who are subconsciously more concerned about acting like or competing with the big boys.

A niche market is often overlooked by the conglomerates, bigger websites, and blogs, which opens the doors for the individual writer or small business owner. When you find that niche and get a good foothold on it, you must stick with it and grow your following and customer base without changing your identity. Too often after a year or two of success, these small businesses and blogs begin to get overconfident, and reach for consumers or viewers who are not part of the original niche they were marketing to. This eventually leads to loyal customers leaving, and what you’re left with is a blog or small business that is directional-less.

You may be the captain of your ship when it comes to your business or blog, but it’s the followers and customers that steer it. Ultimately it’s them who take your niche market and grow it, not the other way around. When you get that strong loyal group, listen to them and they’ll help you get more exposure. Remember, your decision to enter a niche market has given you the opportunity to grow your business or website into something more, and if you try growing it yourself and go in the wrong direction, you’re going to have many followers and customers, but they won’t be loyal nor profitable in the long run.

Niche marketing can be profitable. If your content or products bring value to the consumer they’ll return, bringing more people with them the next time they visit your store or website. You built a community that was unique and brought like-minded individuals together, and now that community is growing on its own without you forcibly marketing to multiple groups. The niche market you got into has brought in niche consumers, and that’s how you become successful, by naturally building off what you started and what the consumer continued.

Business, Marketing

When Is It Time To Own The Content And Information You Share?

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You’ve probably been in the lunch room during college or at work and hear the smart person quoting other people’s work, but because no one knows what that person is talking about, he or she is deemed smart. The same can be said for bloggers, and in this case, it’s extremely important to not just quote other people’s work without putting your own two cents into the conversation and topic. Bloggers and aspiring professionals in a particular industry must separate themselves from the endless amounts of books they’ve read and start owning the knowledge they have while also giving credit to where it’s due.

I’ve mentioned before in a previous article that I am a follower of Gary Vaynerchuck. His insight and knowledge in the social media marketing world has been far ahead of everyone else’s, as he’s made bold statements concerning certain social media platforms and a few months later he’s correct. He also has a weekly vlog and podcast that answers viewers’ and listeners’ questions, which in the process answers the questions I have on branding my own business and blogs. In conversations with friends, I give credit to the knowledge I share to Vaynerchuck, but I don’t quote every word.

What Gary and other entrepreneurs who have blogs and share content have done is laid the foundation for further expansion and vertical growth. The minute I don’t put my two cents in, and expound upon the knowledge he’s sharing, I’m stunting my own professional growth while also showing my audience that I can’t think for myself. Bloggers are in a sense entrepreneurial, in that they’re willing to work hard to display their talent in a particular industry and grow their passion into something more than a hobby. With that said, many bloggers only quote others and do not put their opinion into the topic, making them no different than someone else’s blog and cheating themselves out of the opportunity to share an opinion that could change the industry they write about.

For the car enthusiasts out there, you’ve most likely read countless articles with the same opinion towards Cadillacs. Whether these beliefs are true, why isn’t there a blog or news outlet that test drives their cars, writes an accurate review, whether it will change the mind of the reader or not, and go against common belief.

The lack of personal input is why blogs fail. Yes, SEO, social media, and writing content consistently will get you noticed, it’s the unique content that brings value to the reader that creates a loyal following and growth in views and exposure. Own the content and information you’re providing. If there is an interesting news story or article in an industry that excites you, put your opinion or input into the content that you share. Not only will that make for a better read, but you now have a double-dose of content for the reader to digest; the original content and the two cents you provide that will make the viewer think about their biases.

Bloggers have the opportunity to be innovators and entrepreneur-like thinkers. Use the social media outlets and blogging tools to help promote your content. Don’t be that person who is considered smart because you can quote big words from a book, be insightful while also being smart. Give the reader quality content and they’ll return. Being unique is how people remember who you are, and always have that mentality whether you’re a blogger or a business owner.

Marketing

How Marketing Made Xbox More Favorable Among Teens Than The PS3

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One of the debates back in high school was that the Xbox 360 was better than the Playstation 3, and while faithful followers of both sides would argue constantly, there really wasn’t a right answer. Little did any of us know that marketing played a major role in the decisions of 14-18 year olds across the United States. From the commercials, to the colors of the logo and the features each console had, the decisions and beliefs both sides had were solidified when these teens not only bought into the product, but also the marketing behind it.

If you’re a hardcore gamer, you could probably give me a list of the differences between Xbox and Playstation, but you can’t tell me that there is a major difference in graphics. Other than a few games that are exclusive to one console, there is no change in gameplay, despite the fact an Xbox or Playstation gamer would tell you otherwise. Online chatting is the real selling point, as you can talk to a friend or a group of friends who are playing different games on the Xbox, but you can’t do that on the PS3.

Getting to the real decision maker was how the product was marketed. If you’ve seen an Xbox commercial lately, you’re aware of the bright green logo and the bright green backdrop. That’s an eye catcher, and that shade of green exudes innovation. Seeing a color that goes well in the tech industry is going to create consumer confidence, even if it’s subliminal and a subconscious reaction by the viewer. While being associated with the NFL on Sundays, Xbox is reaching potential customers on a weekly basis, and by displaying the Madden football game, there is the outlet for gamers to get online and play the only football game on the market.

Playstation on the other hand rarely has good television ads, and even when they do, their darker colors aren’t appealing to look at and are certainly not an eye catcher. They’ve not made a major attempt to attract customers, and instead are banking on the faithful owners of current playstation consoles to return and buy the newest platform, which most likely they will. The PS4 saw strong sales figures last year, and this could have something to do with their lack of ads, but Xbox continues to do what they do best, and that’s get the attention of viewers.

Just as the golden arches of the McDonald’s logo is one of a kind and has become a global icon, so has Xbox’s green X. Consumers don’t forget a good product or brand, and while there is no major difference between Xbox and Playstation, the consumers will always assume Microsoft’s Xbox will create the most appeal when it comes to graphics and gameplay.

Next time an Xbox commercial pops up on the screen, think about what you’re viewing. The eye catching colors, along with quick shots of gameplay will make the idea of owning the new Xbox 1 more appealing. That’s the effectiveness of marketing. While I’m a hardcore Playstation fan, I can’t help but notice that Xbox’s commercials are offering something much more exciting and enjoyable, even if in reality they’re no different than Sony’s Playstation.