1. What is niche marketing?
Along with talking about market segment, niche marketing came up during the lecture. Niche marketing is a small but defined segment of a market. For example, your market segment is for Toyota Trucks (a market segment), the niche would be if your target market would be towards Asians, Hispanics, 55 years and older, etc.
Article Link: http://www.entrepreneur.com/article/49608
In the article, it addresses three rules for niche marketing. The three rules are 1) meet their unique needs, 2) say the right thing, and 3) always test market. First, when it comes to niche marketing, look for things that’ll benefit them or fit around their lifestyle. If possible, you can adjust your products to meet their unique needs. Secondly, when you approach a niche market, you should have a full understanding of the market. The article gives an example of creating a new niche market for a website that only sells leather goods to men. You need to communicate effectively so that the market can be accomplished for the women. Lastly, you always want to test your market. You don’t want to jump into a new niche market and not know what is going on or what to expect. You should get to know your competitors to determine your position in the market.
2. Focus Groups
In marketing and research, it is very important that the data that they collect is true and valuable. Some ways that research and development can get reliable data is from focus groups. Focus groups are groups that the company will have them test a product and get their feedback on a product. For example, when I used to work at Johnsonville they had taste testing focus groups. We pretty much went in a room, tasted the new and upcoming product, and evaluated the product on a scorecard. Johnsonville used that information to decided to whether to continue the product or how to change the product to meet the likes of other people.
In the article, it lists do’s and don’ts for using marketing focus groups. Some of the things that caught my attention was that you shouldn’t settle for an inexperienced focus group leader. There are people who’s career is to be experienced in leading focus groups. Having an inexperienced leader can turn the focus group experiment in a whole different direction that may not be good for the company. Another fact that stood out to me was that you’re not going to get hard data right away. Focus groups are like a starting point for a collection of data. You’re not going to get your questions answered right away.
3. Google Analytics
One of my favorite topic that was talked about this week was Google Analytics. I have used Google Analytics but not to an extent of where my job or career relies on it. It’s amazing all the things a company can find out by just using Google Analytics.
YouTube Link: http://youtu.be/3Sk7cOqB9Dk
This is a short clip on Google Analytics in real life. It talks about how a company should use Google Analytics for online shopping. It pretty much advertises why a company should use Google Analytics (makes checking out easier).
4. Writing copy for a web
Before the lecture, I have never heard of copy. I never even knew that there was such a term. But surprisingly, I’ve been doing it all along without even knowing! The goal of writing copy for a web is not like writing text or content for a web. Writing copy is to get people to purchase your product or sign up for a service via the web.
I thought this was a great article on writing copy for a web. One of the takeaways that I took from this article are the six steps in in copywriting:
1) Research: customer, product, and competition – You need to figure out why people buy the product, why they like the product, what they use it for, and what really matters to them. Researching the company and its product before writing copy will help your copy be more clear and concise to the consumers. The article suggests that you should get out and go research; not just research by surveys and word of mouth. You also should be aware of your competition and how they are positioned in the market.
2) outline and guidepost – having an outline is like having a road map of where you’re headed. An example of a homepage outline would be having a headline, subheadline, and bullet points.
3) draft copy – create a draft copy by using the outline as a road map. The article suggests that using big words or fancy words that do not correlate to your product will make it seem as though you don’t know your target audience or product. They suggests getting rid of jargon and bland advertising. (“the best”, “once in a lifetime”, etc.)
4) conversion boost – Once copy is done, it’s time to convert the user to be a subscriber, or a consumer. The goal of copy is to get them to buy or sign up for something. It gives two examples of how to convert the user; conversion of frameworks and the science of persuasion (who knew?!)
5) revise, rearrange – Once the copy is done and the conversion is done, come back the next day or a few hours later and look at the copy again. Sometimes taking a break in between writing copy can give you a fresh pair of new eyes and perceptive. If anything looks strange, revise it and rearrange it. Then, again, take a step away and come back later to see if it’s 100%.
6) test – test. test. test.! Always test your copy. Its never going to be 100% on the first try
5. Cookies on the internet
One topic that really stood out to me (and the rest of the class) was cookies. No, not the chocolate chip cookies that I love to devour, but internet cookies. Not as delicious, but perhaps just as good? During the lecture, there was a lot of debate on whether cookies was a good thing or a bad thing. As I was listening to the group debate, some things that came up were “It’s like big brother is watching over us”, “I love cookies!”, “It remembers everything for me”, “It’s like internet stalker”, and “it’s great!”. My personal opinion is that cookies are great! I love anything that is fast and efficient for me. If it can remember this or that, or give me suggestions on things that I already like that’s an A+ for me. As a student planning to go into Advertising and Promotion, cookies are a huge deal for us. It’s really a treat for us, just like the chocolate chip cookies.
Article Link: http://www.google.com/policies/technologies/ads/