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Hot New Marketing Trends

Hot New Marketing Trends. John Leathers Amanda Wolsborn. THINGS ARE CHANGING… So should marketing tactics!. Shifting demographics and preferences in the U.S. U.S. Population is: Growing older Growing more multicultural More time pressed

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Hot New Marketing Trends

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  1. Hot New Marketing Trends John Leathers Amanda Wolsborn

  2. THINGS ARE CHANGING… So should marketing tactics! • Shifting demographics and preferences in the U.S. • U.S. Population is: • Growing older • Growing more multicultural • More time pressed • More jaded towards overt sales pitches than ever before

  3. NEW TRENDS THAT ARE WORKING!!!

  4. Text & Multimedia Messaging • Becoming an increasingly adapted medium for marketing • As phones w/video capability have become more prevalent. Video media is more & more of a focus. • Examples: Pandora, Hulu, Mobile Apps. • Small businesses can get in on the action: • Opt – in text message services & coupons (local restaurants send special-of-the-day to nearby patrons) • Examples: Redbox texting promo codes, Groupon • Can be done with a p.c. without need for pricey server provider

  5. Cellphones as Credit Cards How comfortable do we feel about the potential widespread development of this technology? Hesitations? Benefits?

  6. GO ONLINE • Think globally, act locally – online ad spending continues to increase year by year • Google’s “Local Advertising Program” – links its map service & AD Words Program, allowing business to drive some of Google’s traffic to their brick & mortar locations (especially good for entrepreneurs) • Ads also migrating to podcasts & blogs – ads can reach very specific, niche audiences • Online advertising is expected to generate 40 billion in sales in 2012, a 23.3% increase since 2011. • Print advertising is expected to generate only 33.8 billion.

  7. Court the BOOM! • Boomers will grow by 25% in next decade – one turns 50 every 7 seconds • Marketers need to recalibrate their thinking about marketing to older adults • Boomers much more open to new experiences & brands than previous older generations • Disposable income, tendency to refer business; tend to travel and buy in groups • Very responsive to direct mail • Target according to lifestyle, not age (empty nesters vs. 2nd marriage 2/ young family, etc.)

  8. RSS (Really Simple Syndication) • Lets you send and receive information without using email • Subscribe to different websites RSS feed • Use a reader to browse the feed on your spare time • Anyone heard of RSS, or use RSS? • Seems to be a dying technology

  9. “Like” US “Check In” HERE SOCIAL MEDIA Facebook, Twitter, Linked In, MySpace, Foursquare… Etc. etc. etc. -Too busy being “social” to be present and social. “Tweet” about US “Friend” US

  10. Advertising in Unusual Places • Spending in traditional mediums has declined • Spending in online promotions has risen 12 percent since 2005 • Ad program on electrical outlets in airports for business travelers • Look for places where people are engaged – target the message in a way that makes sense for how people believe • The Fun Theory!

  11. Multicultural Marketing • By 2010, buying power of Blacks and Hispanics expected to exceed the GDP of Canada • When marketing to other cultures, be conscious of cultural images - go beyond multiracial casting, and show scenes where clothing, food, and other backgrounds reflect different cultures • Make it authentic and believable

  12. Experiential Marketing • Figure out the key message of your brand and find ways for your staff and location to reflect that image • Apple – handheld checkout machines; pull product bags out of their back pockets

  13. Customer Evangelism • When customers are truly thrilled about the product or service • Customer's become outspoken “evangelists” for your company • Businesses MUST be customer centric for this to develop • Find ways to increase value and inspire loyalty • At the simplest level, use customer testimonials to add credibility (ex. Webinars where customers talk about company) • Other examples: Buzz marketing campaigns, trade shows

  14. DISCUSSION: • Can you think of any new hot trends in marketing that are relevant since 2006? • Which developing technologies do you think are most effective in connecting with modern day consumers? • What do you think about the direction that marketing strategies seem to be headed? Are they actually more personal, or do they have the potential to be more invasive?

  15. QUESTIONS?COMMENTS?

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