Top Advertising Trends for 2010
1.) Optimizing media convergence is a top priority. A better understanding of media convergence will manifest in order to deliver a better return on investment. The ability to accurately measure activity and link online ads to offline purchasing behavior will be critical.
2.) New models emerge to take advantage of smartphones. Accurate mobile measurement will be required to stay head of the snowballing growth of that media platform.
3.) More cross-media ad campaigns surface. The massive growth of online video games played and shared online leads the way for more successful interactive and cross-media advertising campaigns to appear. Growth in the adoption of this innovative advertising across screens and activities will increase.
4.) Commercialization of social networking hubs increase. Social media will provide a new sales channel for establishing product awareness and commercializing brands to better support traditional advertising or text-based ads.
5.) More interesting and interactive online ads appear. Increased use of more creative advertising and content models online such as video, attention-seeking page takeover ads and mechanisms for greater interactivity will drive the next era of Web development.
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Advertising and math go hand in hand. In order to come up with a guarantee for a product you must make sure it is not false advertising. Using deductive logic you can actually use math problems in order to make sure your guarantee is valid and economically feasible for your company. For example the use of clauses with your guarantee can help solve the validity and feasibility of your claim. So if you offer a weight loss product you must not just claim an amount of weight lost for a refund but instead give conditions that must be met that include a weight loss. Your company has done the research on the mathematics of weight loss. In order for people to get results they must show a weekly deficit of 3,500 calories. They must also use the product daily. It must include the differences in Men and Woman’s calorie counts and what is healthy as well. You can then make a journal of all foods, activities, weight be a part of your conditions. If the people do not take down their weight or activities then they cannot get the refund. Click to read more here .
An increasingly important part of advertising today is text-based ads that are Pay Per Click (PPC). PPC ads show up relevant links to terms searched within a search engine. You can bid on the words used in order to show your ads. For example if you sell trailers and you bid on the word trailer you will be billed for every time that someone clicks on your ad. The ad was generated by the word “trailer” in the search engine and is displayed along with links found by Google (organic search results). You must then do a math problem in order to see if your bid is successful and worth the price. According to searchengineguide.com most campaigns can expect a conversion rate of 6%. Meaning you can expect 6% of the clicks will turn into sales. This must balance out the cost of your ad campaign. Math allows us to use a variable in order to turn this into a equation that will answer those questions for every campaign.
X=Number of clicks on your ad
Y=Bid on your ad
Z= Average Sale
P= Number of Conversions
The equation would look like this:
X(.06)= P (z) = MUST BE GREATER THAN X * Y
This will prove whether or not your campaign was a success financially. Click to read more here.
I will be using equations like the one formulated above for a PPC campaign a lot in my future endeavors. As someone that sells Internet advertising and who does marketing for my clients I must do similar equations for all the ads bought for my clients. Even if it is on my site I must prove a return on investment. A similar model can be used to the one above for PPC on Facebook ads on my own website and other Internet ad campaigns. I already have to do a bit of math to prove any new clients ROI and I just expect that to become more of the routine.
Mathematics and Marketing are not necessarily one in the same. But lately that isn’t the case. I think that as the use of Internet Advertising increases so will Marketers use of mathematics. I have included an article talks about how to rate the success of an Internet Marketing campaign.Click to read more here. This is important for as an Internet Marketing professional to consider for my own use and for my client’s campaigns. I must take into account the factors found in the article and make sure that I am setting up the proper equations to hit my goals. The nice thing about this article is that is details out all the factors found in campaigns and how to use them together in order to build equations to show your success or failure for your campaigns. Another fun link I found that applies to any job that needs to use a search engine, Click to read more here. The article clearly shows how to use math and specific commands to get what you want out of a search.
In reality the majority of jobs will use some sort of math. It may be more logic or reason based but most careers have some component of math used. Even if it is just to balance your finances or to check if your paycheck is right I think that you will find Math a valuable tool. I am not a big math fanatic in fact I have Math anxiety but I recognize that in marketing and business development it a crucial part of my job and owning my business. I found an article that showed the math used in cosmetology, a field I think that couldn’t be less math oriented. If you use math in hair styling, I can assure you that it will come up in your chosen career. Click to read more here.
Posted in Advertising, communication, Internet Marketing, opinion, SEO
Tagged Advertising, guarantees, internet marketing math, Marketing, math, math and advertising, search engine math, statistics
I look around my office (part of my dining room) and take it in. A higher profile man might be disheartened by what he sees. Checks, papers and a hand written name card adorn the desk. But not me, this room speaks to me. It feels me with optimism. I am a serial entrepreneur and this is my kingdom. You see disheveled paperwork. I see the foundation of dreams. Every time I pay my contractors and the check doesn’t bounce I draw another sliver of hope. The months when everything is down and the end is near but we pull off in the end is what I live for. There isn’t 7 digits in our business account, I would settle for 5 most days. But I am free to be my own boss. When the game is on the line, I get the ball. I am the MVP, Coach, Mascot, Worst Player, Captain, Cheerleader, and Founder. That’s what I like, the opportunity to fail or succeed on my own terms and by my own hand. So what qualifies me? I have started companies (3 so far) and I failed miserably at one of them (never start a clothing line) and am currently enjoying a modest amount of success on my web project. I ran a successful tradeshow-consulting business before my failed clothing line. I don’t get awards for what I do. I see the reward in my business partner’s face when we make it another month. I see it in the crowds when I am asked to speak about my experience. The pride in my parents face when we say we aren’t in debt anymore. The feeling of satisfaction when the bills are paid. Those are my trophies and awards. The empty energy drink cans are the homage to the fruits of my labor.
My current business NiiTES.COM, now has over 1,000,000 requests for photos monthly and thousands of visitors monthly. We did that with $1,000 dollars of startup money. We employ several contractors monthly and have no debt. We made every dollar work 100 times harder. You must learn as a entrepreneur to make every dollar work like it’s a $100 or a $1,000. You can’t complain about not having enough money. Go ahead do a survey of founders or owners. Not one ever has enough money. You aren’t a business if you are plush. Especially in this economy. Conglomerates have enough money and they are trying harder to make their money work especially now. There is a reason many of the well funded dot coms failed. They spend too much money and don’t know how to make it work. They spent themselves into failure. Make your money work for you, don’t just spend it. I can’t think of a single business that went comfortably through the growth stages into a wild success. That just doesn’t happen. Get used to being broke. And learn how to excel in dire financial situations. Be thrifty, be creative. Don’t let it get you down.
There is something exhilarating about overcoming the odds. Being creative and hard working enough to turn lemons into lemonade. It isn’t easy. You have to be almost overly optimistic. But you can do it. You have to thrive off being closet to failure and revel in struggle. You gotta be ready for 100+ hr weeks and a lack of sleep no RedBull can fix. If this speaks to you and trust me that means your a little crazy, starting a business might be a good idea. Honestly you will probably fail, but if you are really a startup junkie that is more of a dare that you’d love to prove wrong. If my statement about your probable failure hits you close to home than you don’t have what it takes anyway. I am going to look back around my kingdom and get back to work because I never have enough done to take a break. If you plan on joining me I raise my energy drink in a sincere salute. Welcome to your kingdom, startup junkie.
I hate people that complain about politics but don’t bother to vote. I think that the same rule applies to the economy. You have no right to complain if you don’t do your part. What can I the average citizen do? you ask. Easy there are several things you can do. First bank locally. By choosing to keep your money local you will enable local banks to have a bigger pool of funds to loan out. The money goes back into the local economy. You also have a choice as a member of the most robust economy in the world. You can choose where to buy goods. You can be responsible. Support local shops. Business owners locally may not have quite as large of discounts on goods as you can find online. But the difference is that your money stays local. If you choose to save $6 by going online none of that money or tax money stays in your community. Be a good member of your community and keep it local. All of that money will then stay in the community and strengthen our tax base. This really comes into play with high ticket items like cars. If you choose to drive to another city to buy your car you are keeping all of the tax money out of your area. Cars and other high ticket items are a large part of the tax base. Choosing to keep it local is an important part of doing what you can in this economy. I urge you to help fix the economy. One bank account and one purchase at a time.
Can you say that you had millions of views of your product before you ever had something to sell? I bet you didn’t, but Hollywood Undead did. They had MILLIONS of plays of several songs on myspace long before being signed to any record label. They were able to create brand ambassadors. They created evangelists for their brand, something most companies fail to do. If you aren’t inspiring your company’s fans to spread the good word then you aren’t doing your job as a marketer. You must harness the blogosphere and twitter and other new mediums or your company will perish. Technocrati or Tweet Beep are a must. If you don’t know what people are saying about your brand than you aren’t doing your job. Hollywood Undead knows their brand. They even resigned with a new record label so they could stay true to their explicit lyrics rather than have to censor their work. They created an army of Fans. They called them the “Undead Army”. They even gave them dog tags for joining their their “Undead Army”. I don’t see any ” APPLE ARMIES” or ” KLEENEX KREW’S” out there. These street kids were able to empower their brand and create a sense of belonging for their fans. Marketers take note. Undead fans tag with spray paint and stickers all over LA. Now they are doing it country wide as more and more join the “Undead Army”. They had street teams in Los Angeles doing guerrilla marketing well before they had even recorded an album. They were smart. They rode the Myspace wave from the very start and their popularity and other trend setting bands changed the music industry forever. Take heed marketers, if you can embrace social media, your fans will do the work for you. Be genuine and real in your communication. Blog and post relevant information. Then you too can evangelize your fans and let them spread your words and brand. Check out more about these street level marketers and their music below…
PLEASE DO NOT CLICK LINKS TO HOLLWOOD UNDEAD BELOW IF OFFENDED EXPLICIT LYRICS:
The Myspace that started it all
Facebook Fan Page
Posted in Advertising, blogging, communication, Internet Marketing, opinion
Tagged Blog, evangelize, hollywood undead, la, music industry, myspace, technocrati, tweet beep, undead army
I am not a fan of political blogging but I felt the need to share this blog with you. I normally will not have political posts on here unless they relate to marketing so please don’t shy away if not. America is in crisis. We have a failing economy, high unemployment, and a housing crisis. I have heard a lot of politician’s plans for change and how they will heal america’s financial woes. I haven’t heard any ideas yet that give me the hope I was promised during the elections. The problem is that the politicians are using band-aides on what I would call a bone deep gash. That will never work. Flooding the market with government money is not a solution. Some might argue that for true capitalism to work we must fail and institutions can then be bought out and rebuilt stronger. I don’t think we need to go to that extreme.
What we need to do is invest in our future. Education is what could single handedly fix our economy. We should allow for corporate sponsorship of money 101 classes in grade/high school. These classes could teach the basics. The basics that are lacking in our children that should have been taught at the dinner table. How to balance a check book. How to negotiate a lease. How to save for retirement. How to create a budget. How to manage your money. These things are important and we rely on them being taught at home. The truth is that they aren’t taught at home. The affluent teach money management which is why those from wealthy backgrounds tend to mind their money better than those who are not. The generation that grows up out of this sort of education would be wiser and financially more responsible. It is the only true way to change our future economy; better educated leaders and masses.
Banks would line up to teach children how to open a checking account. If you learned how to pick your student loan wouldn’t you give your teacher’s company due consideration? These services would be great marketing for companies and even better for America. We don’t need new strategies or funds we just need to educate our future leaders. If they are taught how to avoid mortgage pitfalls made by their parents we won’t have to worry about a mortgage crises again. If we don’t spend the time changing the mindsets of our children they will be doomed to make their parents mistakes again. The sponsorship concept would allow for this not to take an unhealthy strain on our already broke educational system. Lets invest in our future not just mismanage the present. Please feel free to contact me if this idea interest you via email: email@example.com . I would love to work with like-minded people on an idea like this. Thank you!
Project management is an integral part of most businesses today. Our business is no exception. If it is an ad campaign run on our site or a web development build most of our work ends up having a component of project management. One of the tools we use especially in web development is Google Wave. This allows us to track conversations clue in team members (you are able to replay the conversation to catch them up) and share files. We have taken what used to take many emails and file shares into one realtime conversation. Google wave works well for organizing our thoughts and deadlines. To read more check this link.
In doing project management it is important to consider four main things.
Time– The first consideration in any project. You need to have a deadline and goals for any project. This will help you to consider the resources for the project.
Resources– The resources you need will help you plan the objective and extent you will complete the project. A project with limited resources will help you in considering the time allotted and assets used.
Money– Money is the most important resource to consider in your project. You need to determine the costs and adjust the scope to fit within those parameters. If the project is not doable with your financial resources you need to rethink the time etc… so that it can become doable.
Scope – After you consider the resources costs and time associated you can consider the scope of how you will accomplish the project. You may find that with the costs and resources allotted you may have to alter the scope of the project to fit within those parameters. You should also appoint roles to team members and there individual contributions to the overall project. This will help you determine the scope as well.
Some useful links for Project Managment
The most important thing however is to determine measurable goals. Without these no project can be a success without determining what will make it a success. Goals are integral to any project. They must be measurable and agreed upon by all parties involved.