(American Marketing Association) Supplier selection and pricing format decisions that reflect key characteristics of the project, such as the size of the project, duration, and type of customer, are best at reducing a significant part of cost overruns.
(American Marketing Association) Market disruption is neither always quick nor universal because new technologies sometimes coexist as partial substitutes of the old technologies.
(American Marketing Association) Technological innovations are rapidly changing how we consume goods and services. In many domains, we are trading ownership of private material goods for access to use shared and experiential goods and services. This article outlines how the downstream effects of these consumption changes are channeled through their influence on psychological ownership--the feeling that a thing is MINE.
(American Marketing Association) A failure to incorporate behavioral insight into technological developments may undermine consumers' experiences with AI.
From SEO and paid search to conversion rate optimization and consulting, here are three different strategies you can explore for your agency today.The post Customers Want Fast Results? The Hybrid Approach for SEO Agencies via @seomonitor appeared first on Search Engine Journal.
As the worlds of brand creative, original entertainment and content marketing continue to merge, Jersey City/Santa Monica-based Creative Studio MALKA has tapped Industry Creative veteran Alan Schulman to serve as an Advisor.For the past 5 years, Schulman served as Chief Creative Officer of Deloitte Digital US and held the same position at SapientNitro NY prior.He is widely considered a subject matter expert in data-driven creative and content marketing and was named a Creative ALL Star by MediaPost martech news.“Alan has been a fixture in the creative community for decades and is always on the cutting edge of advancing the way creative thinking can influence how brands shape culture.He understands that brands are no longer just telling their stories but shepherding all stories that make their brand relevant to today’s conversation,” said Jeff Frommer, President of MALKA.As a Strategic Advisor, Schulman will help advance MALKA’s purpose built model around brand integration in original content as well as expanding its creative and production capabilities into content marketing and content automation.“MALKA is a truly unique offering more akin to an Original Content Studio for Brands than a typical agency or consultancy,” said Schulman.“They have built an agile content creation capability for brands that merges Hollywood storytelling with a newsroom mentality versus a traditional agency model.This enables them to draft off of both culture and conversation in ways that today’s brands desperately need to stay relevant rather than interrupt their way into old formats.”Schulman has served as a co-Dean of the Creative Academy for the Cannes Lions Festival, as a member of the Board of Directors of American Marketing Association NY, and a Faculty Member in Content Marketing for the Association of National Advertisers (ANA) School of Marketing.He has also served on the Creative Review Committee of the AdCouncil, the 4A’s Creative Technology Committee and is a current voting member of the Recording Academy (Grammys).
As content marketers, everything we do should serve the needs of our customers and target audience.I’ve heard about innovative tools and techniques to distribute our messages and analyze our results.There are always new performance milestones to strive for; new technologies and media platforms to explore; and new audience challenges to conquer as needs shift, business opportunities emerge, and the nature of communication evolves.The new digital innovation system helps enterprise clients harness tech advances such as blockchain, predictive analytics, “internet of things,” machine learning, and design thinking.The show hits the mark in terms of both listener interest and brand awareness: Within its first four months online, it generated:65,000-plus blog views across 25 industries and two lines of business
In today’s socially conscious environment and political climate when a company takes responsibility for its actions and the subsequent impact on communities, employees and stakeholders, the results go a long way.The Sustainable Investment Institute (Si2) recently reviewed the current state of companies’ sustainability reporting and reported that websites of 92% of S 500 companies included disclosure on sustainability, with 395 companies (78%) issuing full reports on the subject.The rising role of chief sustainability officers (CSO) is itself an indication for sustainability’s coming of age.Sustainable investing constitutes a major force across global financial markets.Socially responsible investing has grown by 34% to $30.7 trillion over the past two years, according to the latest report from the Global Sustainable Investment Alliance (GSIA).Responsible investment now commands a sizable share of professionally managed assets in each region, ranging from 18% in Japan to 63% in Australia and New Zealand.
Every year, the global marketing industry descends upon Cannes, France for the Cannes Lions International Festival of Creativity.Consumers don’t trust businesses the way they once did.North Face encountered withering criticism for a stunt in which it unethically defaced Wikipedia.Gucci launched a $790 turban and then pulled it when it was exposed as nothing more than cultural appropriation of the Sikh religious turban.An ad that sugarcoated slavery was aired by Ancestry.com before it was shamed into being pulled off the air.Amazon was on the defense for denying that its facial recognition software could lead to human rights violations.
The study forthcoming in the July issue of the Journal of Marketing, titled "Successfully Communicating a Cocreated Innovation," is authored by Helen Si Wang, Charles Noble, Darren Dahl, and Sungho Park.Online platforms make it easy and inexpensive for companies to run contests, gather customers' ideas, and commercialize the most promising ideas into finished products.This is a key reason cocreation has been adopted as a key innovation strategy by nearly 78% of large companies.Thus far, however, the strategy has yielded disappointing results.Is the cocreation model a legitimate strategy to drive innovation and adoption of resulting products--or is it flawed by design?When sharing a genesis story, creators tend to take one of two tacks: 1) an approach-oriented message about how they achieved new or desired outcomes; or 2) an avoidance-oriented message that promises to help users avoid unpleasant or undesirable outcomes they themselves experienced.
Researchers from the University of Southern California, University of Houston, and Uber Technologies, Inc. published a new paper in the Journal of Marketing, which finds that in order to create viral ads, brands should arouse strong emotion, place brand mentions at the end of the video, keep ads to a moderate length of 1.0 to 1.5 minutes, and use authentic characters.To arouse emotions, a brand should create an ad with a captivating plot, a surprising ending, and authentic characters; they also should use babies and animals more than celebrities.The study included 109 brands that were among the top 100 US advertisers in 2012 as well as additional brands that were historically active on YouTube.Information appeals have a strong negative effect on sharing except when the advertised item involves risky purchase contexts such as new or high-priced products.In addition, 26% of ads featured celebrities, but only 3% used babies and animals, even though the latter are more effective at driving shares.Prominent brand placement impairs sharing: Lengthy, early, or intermittent placement of the brand name drives less sharing than late placement.
Marketers are feeling less optimistic about their work in the wake of a slowing economy, the newly-published CMO Survey reveals.The survey, which is co-sponsored by the American Marketing Association, Deloitte and Duke University’s Fuqua School of Business, asked 323 marketing executives about the industry and the sentiments of those working within it.Results showed that optimism among marketers is at a seven-year low, hitting 57 on a scale of one to 100.Fifty-six percent of marketers are feeling more pessimistic about the economy now than they were during the previous quarter.Marketers just don’t know what’s going to happen with these larger economic forces.”This doom and gloom attitude is reflected in the allotment of marketing budgets: Over the past year, the budgets grew only 5 percent, and executives expect hiring to grow by a similar percentage in the next year, too.
Not all data is created equal, with marketers and media owners now demanding better quality data instead of the scale game that defined much of the nascent days of the big data era.This growing awareness was exemplified by the enforcement of the General Data Protection Regulations (GDPR) in the EU and the drafting of the similarly-spirited California Consumer Privacy Act midway through 2018, not to mention the repeated scandals that have engulfed Facebook throughout the past 12 months.An August 2018 study of more than 300 senior U.S. marketers by the American Marketing Association, Duke’s Fuqua Business School and Deloitte indicated that while only a minority (10 percent) of participants were “very worried” about their use of third-party data and privacy concerns, the pendulum is swinging in the opposite direction.For instance, 9.4 percent reported that they have decreased their use of data in the previous 24 months while 11.4 percent said they planned to tone this number down over the proceeding two years.While many have interpreted GDPR as the EU targeting the largest online media industry’s Silicon Valley-based names, certain complainants have alleged that the very fundamentals of all ad tech are not compliant with the legislation and data watchdogs there are beginning to issue heavy fines.Nonetheless, marketers still want to use data when it comes to personalizing their communications but oftentimes their own first-party data sets lack the scale to best home a mass campaign.
LinkedIn brings Dynamic Ads into Campaign Manager platformLinkedIn has added Dynamic Ads into its Campaign Manager platform.Americans are changing their relationship with FacebookA new survey from the Pew Research Center shows that 42 percent of Facebook users having taken a break from the site during the past year, one of several findings of interest to digital marketers.Google Wants to Kill the URLGoogle and other tech firms are grappling with oftentimes unwieldy and increasingly dangerous URLs.
The American Marketing Association New York will induct three new members into its marketing hall of fame on May 17.The newest members of the hall of fame include Lee Clow, chairman of TBWA\Media Arts Lab and director of Media Arts, TBWA\Worldwide, Esther Lee, evp and global CMO of MetLife, Inc. and Seth Godin, speaker and bestselling author.All three marketers will be honored at a special event, held at R/GA’s New York offices.“We established the Marketing Hall of Fame to recognize our most admired colleagues for the many brilliant ways they have advanced our profession.It’s an honor for us to celebrate the extraordinary contributions of Esther Lee, Lee Clow and Seth Godin, all of whom truly represent the pinnacle of leadership and innovation in our field,” Robert Kahn, AMA NY president and svp of business development at Elateral.Kahn also serves as the Marketing Hall of Fame committee co-chair.
The latest CMO Survey of top marketers predicts that combined spend on the likes of digital marketing, martech platforms and marketing analytics will increase by 6.5% over the next year.Backed by Deloitte and the American Marketing Association the findings compare favourably with an anticipated 3.9% rise for marketing research and intelligence, a 3.3% uplift for marketing consulting and a 2.5% boost for marketing training.Drilling down further into the precise nature of this spend the CMO Survey found that 56% of companies will build these capabilities in-house by either recruiting staff with the requisite skills or training existing employees.By contrast, just 3.5% will recruit other firms to acquire these skills for themThe remaining 40% will deploy a partnering strategy to come by the required knowledge with 14% partnering with agencies and a further 14% partnering with consultancies.12% would elect to partner with other companies.
Since that time, the concept of becoming sustainable has gone from an afterthought to top priority for many companies."When we started eleven years ago, we were helping some companies and government agencies with their environmental marketing.However, we would never have envisioned the explosion of interest that we've seen over the past 18 months," says Kevin Tuerff, president and co-founder of Enviromedia, a marketing firm in Austin, Texas."A lot of businesses have been scrambling to do something and oftentimes they're a little misguided, trying to find the quickest, easiest solution so they can take advantage of this tidal wave of interest from customers."By 1998 the company had switched from using electricity to wind power.From there the brewery continued with sustainable business and building practices such as daylighting to reuse heat in the brewery.
Anyone who’s taken a Marketing 101 class in the last 30 or 40 years has likely been introduced to the subject with the concept of the “Four P’s” of marketing.The four P’s are a widely used mnemonic device coined by the head of the American Marketing Association in 1953 meant to help illustrate the role of a marketer.For a long time these four P’s were sufficient to explain the entirety of what marketers did, but marketing has changed a lot in recent years and suddenly these four categories don’t tell the whole story.Publishers created content that people wanted to see and the incredibly high cost of producing and distributing this content was subsidized by advertisers aiming to grab a bit of the attention and goodwill this content earned.Compounding this trend is the fact that people now have very little tolerance for their content being interrupted and a seemingly endless appetite for content targeted towards their unique tastes.First of all, you have to consider the costs of not responding to this trend and continuing to market the way you always have.
For nonprofits, it’s a lot easier to ask for money when someone knows what you stand for, is already familiar with your organization, and trusts you.“It's tempting to think that the non-profit world’s marketing and communications budgets should mirror the for-profit world.A case can be made that in fact non-profits need to spend more than for-profits on marketing, not less.However, everything points to the fact that the sector would have little appetite for such a radical increase.”There are arguments to be made for spending more on marketing (as noted above, more marketing can have a direct effect on increased donations and it can help the end users of your organization’s services find you and thus make your efforts more effective), but it can be difficult for an organization that wants to get the lion’s share of each dollar to the end user to allocate more to marketing.So let’s talk about what 3%, give or take, looks like in practice.
p Stop me if you’ve heard this one before: Marketing and sales, despite working toward a common revenue goal, struggle to align.Marketing brings in the leads, but sales doesn’t like them.We believed our content was a valuable sales enablement tool, and we had regular communication with the sales team.Our communication mostly consisted of informal meetings, where details could get lost in translation.In addition to including the creative concept, we had each sales rep record their names, title, the intended audience, and the asset type.A salesperson might make a passing request for a deck, but without documented details, the execution would often break down.