In November 2010 I informed my clients of the huge power of Groupon.com. Groupon had nearly 80% of group buying power online. Today digital coupon comet, Groupon, sends 70 million subscribers deal-of-the-day emails. According to Bloomberg Businessweek, Groupon is a combination of (somewhat now passé) Yellow Pages and Valpak, acting as a kind of price-conscious concierge for millions of customers.
Untapped Potential
Groupon is growing exponentially, possibly the fastest company of all time! Budget is $3-4 billion this year, up from $750 million last year. Rumors of an IPO would value Andrew Mason’s digital couponing biz at $25 billion!
Groupon Now
Two simple buttons have transformed local commerce. Groupon’s “I’m hungry” And “I’m bored” options give single-click access to local merchants looking to fill empty seats, tables, rooms, etc. – now. Instead of being presented with dozens of options – Groupon Now has just two. The program is still in beta, but expected to go live to broader markets in April.
Groupon’s Sense of Humor
Do you remember the $3 million, 30-second ad during the Super Bowl that tried to make a joke of Tibetan repression? “The people of Tibet are in trouble… but they still whip up an amazing fish curry.” The spot bombed. But Groupon has remained an edgy, informative, and entertaining persona. Groupon is known to reward its best customers with silly things like mouth guards, shoe trees, and other non-essentials not coveted by most people. Groupon employs 70 comic writers.
Groupon’s Competition
There is a long list of wannabe daily-deal sites. LivingSocial started building apps for Facebook, but pivoted to daily deals after seeing Groupon takeoff.
The Groupon Now Difference
Daily deals present invites that help the average consumer step outside of their comfort zone. From sky diving to simply trying a different restaurant, you see the deals when you enter your location on your PC or smartphone. Daily deals generate a flood of new customers. A few may become regulars. With Groupon Now you get just a few customers, but at the right time. The real advantage of G Now is eliminating perishable inventory.
If a spa has a canceled massage, but your masseuse is already there - why not give a massage at a discount? If your restaurant is packed every weekend, but you could use a few patrons on a Tuesday for lunch – why not use G Now to draw customers to open tables? G Now is an everyday tool to keep business going.
Rob Solomon, Groupon’s president says, “If we get this right, we are going to influence what tens of millions of people are buying at a frequency that we have never seen before.
The Cons
Groupon takes a 40-50 percent cut on all deals. Small business owners already have a lot on their plate. Managing Groupon Now takes time. And of course – as with discounting too often in any venue – active discounting on Groupon could dissuade customers from ever paying full price. Groupon isn’t the only site around and now Facebook recently announced plans to collect daily deals from Groupon’s rivals.
Wednesday, March 30, 2011
Tuesday, March 22, 2011
Ad Critique
People are so visually inclined. And attention spans are so short. This concept takes very little time for us to grasp. What a striking visual. This really makes the point.
Do you have a product that can be displayed in a way that is representative of the benefits of using said product?
You'll notice the fine print "Advertisement" in the top left corner, but not until you've read the whole ad. The history of a company always makes for a good read. Every business has a story. Make sure yours is on your website's About Us page. This page should never be overlooked. People like doing business with businesses they feel like they know.
Notice the Facebook reference at the bottom of the page. They did this right. It doesn't just say "Find us on Facebook." The ad directs viewers to the custom URL. Be sure to make the most of your Facebook business page.
Another great visual comparison. "If you could take fewer pills, why wouldn't you?" The question paired with the visual make such a strong statement.
My advertising challenge for you this week is to create a visual representation of a benefit of your product, whether a comparison or direct address of a "point of pain" - see what you can come up with.
Please email me your ideas or an ad you'd like to have critiqued.
terra(at)fletcherfreelance(dot)com.
Wednesday, March 16, 2011
How to Craft Your Business Slogan
The purpose of a slogan or tagline is to catch attention. This should be done with a short and simple phrase that is innocent and decent (appropriate for all ages).
The slogan should highlight a particular concept or aim through its memorable expression, motto, or lyrical rhyme. Characteristically a good business slogan will harmonize with your overall brand/business image. It must be fresh and exciting, calling a visual image to mind. Remember your objective is “expansion.” As many elements as you can incorporate into a short phrase, the better. Like crafting catchy titles, your slogan should be short – 3, 5, or 7 words at most – 3 is best!
In those three words, can you add a musical jingle? Music will aid in memory. You know, like those annoying commercials that get stuck in your head. They work! Think of McDonalds “Ba da buh ba ba, I’m lovin’ it.” Or Subway’s uber-catchy, “Five. Five. Five dollar foot lonnnng.”
Those examples are very simple. Other effective techniques for business slogans include puns and plays on words. This includes inspiration, attraction, self-involving, and use of proper language focusing on painful memories, contradiction, literary blunders, or strange tones. Unexpected combinations are highly memorable. Pair a serious concern with lighthearted tone. Or try questions that pose a challenge, “Are you smarter than a fifth grader?”
And if you’d like to use my handy worksheet on crafting your Unique Selling Position, simply request the document via email terra(at)fletcherfreelance(dot)com. Put “USP worksheet request” in the subject line.
The slogan should highlight a particular concept or aim through its memorable expression, motto, or lyrical rhyme. Characteristically a good business slogan will harmonize with your overall brand/business image. It must be fresh and exciting, calling a visual image to mind. Remember your objective is “expansion.” As many elements as you can incorporate into a short phrase, the better. Like crafting catchy titles, your slogan should be short – 3, 5, or 7 words at most – 3 is best!
In those three words, can you add a musical jingle? Music will aid in memory. You know, like those annoying commercials that get stuck in your head. They work! Think of McDonalds “Ba da buh ba ba, I’m lovin’ it.” Or Subway’s uber-catchy, “Five. Five. Five dollar foot lonnnng.”
Those examples are very simple. Other effective techniques for business slogans include puns and plays on words. This includes inspiration, attraction, self-involving, and use of proper language focusing on painful memories, contradiction, literary blunders, or strange tones. Unexpected combinations are highly memorable. Pair a serious concern with lighthearted tone. Or try questions that pose a challenge, “Are you smarter than a fifth grader?”
And if you’d like to use my handy worksheet on crafting your Unique Selling Position, simply request the document via email terra(at)fletcherfreelance(dot)com. Put “USP worksheet request” in the subject line.
Wednesday, March 9, 2011
Ecommerce on Facebook, the Latest Trends
Asos
Asos (As Seen on Screen) is the first retailer in Europe to set up shop on Facebook. The London-based clothing shop received this designation on January 27. Most retailers, including Asos competitors, use the social network to communicate with fans – what I usually recommend. Now Asos 465,000 fans can shop 150,000 produces without leaving Facebook. They can post photos for friends to see and comment on.
Asos CEO, Nick Robertson, says “Our [customers] are on Facebook all day, every day.” At present the store can only be accessed via PC or iPad, but the app for smart phones is in the works.
Moppers
Mobile shoppers or “Moppers” have been using smart phones, iPads, and other mobile devices to browse, comparison shop, and ask friends for advice. Making a purchase seemed the next natural step. Of Facebook’s 500 million users, 200 million access the network mobile. Mobile users are twice as active as PC users.
According to Verdict Research and Ovum, mobile commerce will double in the UK by 2013, reaching $440 million. Major names, J.C. Penney and Delta Air Lines, have already worked with developers to set up shop. Mike Fauscette of IDC in Framingham MA says that in three to five years 10-15% of consumer spending in developed countries will take place through social networking sites.
World’s largest ecommerce marketplace, EBay, predicts doubling of mobile sales this year. Fashion sees the biggest growth. Britain’s top retailer, Tesco, has had an app (since October) that allows shoppers to photograph a barcode and add the product to their virtual shopping basket. John Lewis will be launching a smart phone app that will offer fashion advice and buying guides early this year.
Gaming
Side Note: Zynga, Facebook’s number one game developer, is looking to go public. T. Rowe Price and Fidelity are rumored to be raising $250 million in funding. Valuation is estimated at $9 billion. There is a rush to invest in the company (before its IPO) by institutional fund managers.
Asos (As Seen on Screen) is the first retailer in Europe to set up shop on Facebook. The London-based clothing shop received this designation on January 27. Most retailers, including Asos competitors, use the social network to communicate with fans – what I usually recommend. Now Asos 465,000 fans can shop 150,000 produces without leaving Facebook. They can post photos for friends to see and comment on.
Asos CEO, Nick Robertson, says “Our [customers] are on Facebook all day, every day.” At present the store can only be accessed via PC or iPad, but the app for smart phones is in the works.
Moppers
Mobile shoppers or “Moppers” have been using smart phones, iPads, and other mobile devices to browse, comparison shop, and ask friends for advice. Making a purchase seemed the next natural step. Of Facebook’s 500 million users, 200 million access the network mobile. Mobile users are twice as active as PC users.
According to Verdict Research and Ovum, mobile commerce will double in the UK by 2013, reaching $440 million. Major names, J.C. Penney and Delta Air Lines, have already worked with developers to set up shop. Mike Fauscette of IDC in Framingham MA says that in three to five years 10-15% of consumer spending in developed countries will take place through social networking sites.
World’s largest ecommerce marketplace, EBay, predicts doubling of mobile sales this year. Fashion sees the biggest growth. Britain’s top retailer, Tesco, has had an app (since October) that allows shoppers to photograph a barcode and add the product to their virtual shopping basket. John Lewis will be launching a smart phone app that will offer fashion advice and buying guides early this year.
Gaming
Side Note: Zynga, Facebook’s number one game developer, is looking to go public. T. Rowe Price and Fidelity are rumored to be raising $250 million in funding. Valuation is estimated at $9 billion. There is a rush to invest in the company (before its IPO) by institutional fund managers.
Wednesday, March 2, 2011
How to Write a Great Press Release
A press or media release is still a great marketing tool for promoting your company. Publishing your release online is an excellent way to drive traffic to your website. A well planned, constructed, and targeted press release will create brand awareness, gain more newsletter subscriptions, promote new products, and simply – get you more (hopefully free) publicity.
Write like the pros, format like the pros, and hit your target media.
First know the primary purpose of your press release. Then sketch out a rough draft. A great press release will have a catchy title and a content-rich lead paragraph. Just like a newspaper article (remember newspaper articles) you need to “draw in” your audience in the first few sentences. Read a few press releases to see what I mean. Save a few samples that really capture your attention. Use them to inspire you.
In the online world, your press release headline will be what search engines pick up first. Use keywords and capture attention. If you’re promoting a new website, use the URL in the headline. If promoting a new product, include those keywords.
Analyze the format, heading, body text, closing, contact info/resource box, and keyword placing of the press releases you’ve found. Make the job of the media outlet easy. If your press release looks like news, sounds like news, is well formatted, interesting, and requires no more than a “copy and paste” on their end – your chances of getting it distributed are exponentially increased.
Avoid too much self promotion or over-optimized “spammy text.” Your objective should be more along the lines of educating consumers and becoming a resource. Press releases are not intended for hard selling. Use keyword phrases in the first and last paragraphs, but don’t over saturate; two to three percent is plenty. Always use a proofreader. Cut out any excess content. Keep it short, simple, and beneficial.
With a well written and executed press release you should begin to see a steady flow of targeted visitors to your website while generating valuable back links to your website. Put together a professional looking press/media kit and media outlets will call on you as a subject matter expert, gaining further exposure for your business.
For expert help call Terra today at (715) 584-6773!
Write like the pros, format like the pros, and hit your target media.
First know the primary purpose of your press release. Then sketch out a rough draft. A great press release will have a catchy title and a content-rich lead paragraph. Just like a newspaper article (remember newspaper articles) you need to “draw in” your audience in the first few sentences. Read a few press releases to see what I mean. Save a few samples that really capture your attention. Use them to inspire you.
In the online world, your press release headline will be what search engines pick up first. Use keywords and capture attention. If you’re promoting a new website, use the URL in the headline. If promoting a new product, include those keywords.
Analyze the format, heading, body text, closing, contact info/resource box, and keyword placing of the press releases you’ve found. Make the job of the media outlet easy. If your press release looks like news, sounds like news, is well formatted, interesting, and requires no more than a “copy and paste” on their end – your chances of getting it distributed are exponentially increased.
Avoid too much self promotion or over-optimized “spammy text.” Your objective should be more along the lines of educating consumers and becoming a resource. Press releases are not intended for hard selling. Use keyword phrases in the first and last paragraphs, but don’t over saturate; two to three percent is plenty. Always use a proofreader. Cut out any excess content. Keep it short, simple, and beneficial.
With a well written and executed press release you should begin to see a steady flow of targeted visitors to your website while generating valuable back links to your website. Put together a professional looking press/media kit and media outlets will call on you as a subject matter expert, gaining further exposure for your business.
For expert help call Terra today at (715) 584-6773!
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