The wearable technology market has grown tremendously in the past several years. With all these new wearable devices, marketing departments face difficulties not only in differentiating their products from competitors but also in creating marketing strategies for these devices.
Tag: AdWeek
Music Festivals: A Scene where Marketers can Engage Upwards of 100,000 Attendees in a Single Day
Music festivals are a huge opportunity for companies to not only sponsor but also exhibit their brand to a large audience in a short period of time.
Burritos and Beer: Taco Bell to Open First U.S. Location with Alcohol this Summer
As a means to compete with its rivals in the fast casual market, Taco Bell announced earlier this week that it will begin serving alcohol in one of its Chicago locations.
Bud Light Takes its “Up for Whatever” Campaign Too Far
Anheuser-Busch InBev is swarming in criticism stemming from part of its “Up for Whatever” campaign, by BBDO. The company has published 140 scroll messages on its bottles since the campaign’s inception two years ago. One of the messages came under fire last week, “the perfect beer for removing ‘no’ from your vocabulary,” which has been linked to rape culture.
Hulu CEO Announces Strategy for More Focused and Competitive Brand
Hulu CEO Mike Hopkins presented to 2,000 attendees at its NewFront presentation last week. The company announced its plans to created a more focused and competitive brand. Among them are to drop the “Plus” from “Hulu Plus,” stream all nine seasons of Seinfeld, and produce an array of original series in an attempt to join the ranks of its competitors Netflix and Amazon.
Heinz-Kraft Merger To Create Giant Company With Lean Marketing
The Heinz-Kraft merger announced Wednesday will form the fifth biggest food and beverage company worldwide. While the marketing budget will not take a big hit, the combined firm will implement a lean marketing strategy based on zero-based budgeting: spending money on advertising that is proven to work and generate a strong return on investment.
Here Come the Oscars…
(Digital Spy, 2013) We love this time of year. The curtain will rise on the film industry’s biggest night this coming Sunday and that means some excellent reporting and number-crunching hitting the wires, with two […]
Everyone is buzzing about the upcoming Twitter IPO. When the company begins trading on the public exchange later this month, what will happen? Will it stumble out of the gate, echoing the challenges other social media platforms have faced? Or will it soar? Will it fail to meet, match, or exceed investor expectations?
All of this is great chatter for the talking heads on cable news. Even the casual consumer will be drawn in by the rapturous tale these pundits will weave, regardless of the outcome.
But beyond the headlines, beyond the “big numbers,” there is a real debate going on – one that has serious consequences for marketing managers at every major company. Does real, sustainable potential in this new wave of social media marketing exist?
More specifically – what does real-time marketing do for a company’s bottom line?
Noted author and marketing strategist David Meerman Scott, in his book, “Real-Time Marketing and PR” defines this concept in this way:
“… products or services instantly, based on feedback from customers or events in the marketplace. And it’s when businesses see an opportunity and are the first to act on it.”
Many of us remember the now infamous and timely Twitter post from Oreo that capitalized on this past February’s Super Bowl during the unexpected blackout.
It was a watershed moment for the company and for proponents of real-time marketing – the sheer interactions and touch points generated brought Oreo unparalleled exposure and viral connectivity.
And let’s face it – it was cool.
During the Emmys this year, AARP of all companies capitalized on a mention by winner Jeff Daniels during his acceptance speech:
Daniels: “”The last thing I won was a few years ago for ‘The Squid and the Whale.’ I won best actor over 50 from the AARP. With all due respect to the AARP, this is better.”
AARP’s response?
But again – does this exposure translate to the bottom line? Does this type of social marketing reach new customers or simply get batted around by current ones?
While marketing managers may be able to save money by capitalizing on these viral memes and hot buttons, the investment of time and energy to consistently stay abreast of the ever-changing social media landscape presents a whole bevy of new challenges.
This article from “AdWeek” crunches some more real-time marketing numbers. What do you think? Is the investment paying off? What would you do as the CMO of your company?
Marketing Management 