Sponsorship, once a symbol of corporate excess, is now finding its place within the business world—especially in the digital sector, where sponsors know how to best maximise ROI from these channels. By its nature sponsorship creates ideal digital marketing opportunities. It has the flexibility to provide platforms for brands to create exclusive content and online experiences as well as being able to engage directly with their audience.
Marketers are desperately searching for new and economical avenues to create stronger relationships between their brands and target audiences. One avenue that’s resurgent is sponsorship, which is proving a powerful way to engage with consumers while cost-effectively growing the business at the same time – a win-win situation for all involved.
For example Silverpop, a U.S.-based organisation that provides worldwide Web-based solutions, signed up to exclusively sponsor the 2010 DMA Digital Tracking Study. This partnership has provided Silverpop with a sought-after tool to reach out to the top marketing professionals in the UK, a market that they are developing. Additionally, this has helped the DMA to provide the latest research to its members.
Although partnerships are not a new theory, strategic business sponsorships can be new territory. However, providing they fit, they can be immensely successful. As digital marketers are usually first on the starting block I anticipate this trend will continue to grow across other sectors for those companies looking for more cost-effective and engaged marketing.
If you aren’t part of the digital sponsors who make up more than 50% of the total sponsors at the DMA, you might be wondering what you are missing.
Companies are generally very good at collecting customer data. They have processes and systems in place to record every touch point a customer has with them. Whether it be in-store, online, through an email or direct mail campaign or via telesales and telemarketing, behaviour is tracked from various sources and saved into various systems.
However, all too often this data is not integrated, it is stored in different locations or departments (web databases/offline databases/telesales databases etc) and is never consolidated into one central location. As a result companies fail to create an individual customer view and ultimately miss seeing the value of their data.
This is because segmented customer data can’t be analysed for trends or buying habits and opportunities to cross sell or up sell are missed. Most importantly, you cannot build a relationship with your customer without knowing everything about them.
By using an intelligent data management solution that will automatically pull customer data from your various sources into one central database, you can start to build an individual view of each customer, learn everything about them and begin to build valuable, meaningful relationships.
When you can see, on one simple interface who your customer is, their browsing and buying history, what messages they respond to, how they respond, at what time, what they like and don’t like you can communicate with them in a relevant and targeted way, learn about them and understand how they interact with you. By doing this you begin to add real value to your data.
The next step needs to be taken in data capture and individual customer views need to be created to ensure trends and behaviours aren’t missed or ignored and businesses can begin to learn about every aspect of their customer.
People like to understand what they're buying into, and see if it fits their values and what they're all about. It could be quality, cool, innovation, value, leadership, surprise, luxury, expertise - the list could go on and for any one brand incorporate an appropriate combination of these.
That core brand promise and positioning sits at the heart of everything. We call it brand glue, and it drives many different business decisions and activities including your marketing. It knits everything together and is something that needs careful thought, so it reflects your brand truthfully and as far as possible is different from your competition.
Think BMW aligning behind a premium driving experience, Nike making sportswear for winners and Disney uniting behind a goal to provide happiness and magic. Things wouldn't be quite so effective or memorably unique if they positioned themselves to make expensive cars, colourful footwear and somewhere to take the kids with a good line in mouse hats.
Similarly, confused thinking and lack of clarity can reflect in a confused customer. Imagine if Tesco wanted to state they were the leading supermarket in the country, the best. Let's also add in great service and low prices. Ooo but lets not forget it's an innovative supermarket too for good measure, and the fact that they're pretty keen on the environment. Far easier to remember they want to do everything they can to help you with your shopping down to the tiniest little detail. Everything else is just features.
A well looked after brand will eventually become clearly understood and familiar, as well as something that customers are willing to spend their money on. That’s good brand positioning.
VoIP or Voice over Internet Protocol offers businesses the lead when it comes to communications. It’s a cost-effective, flexible and professional option for businesses that want to benefit from the cutting edge of communication technology.
But can VoIP (or Internet telephony) really help your company improve its marketing? Well, the short answer is yes. Clearly, the most frequently given reason that people switch to VoIP from traditional calling plans is the amount of money that can be saved. VoIP uses the Internet to call, which massively reduces your calling costs, especially if you call long distance or overseas.
VoIP offers many more advanced features than regular landlines could ever provide. Nevertheless despite the technological advantage and the greatly reduced costs, it’s the marketing benefits that must not be so easily overlooked.
When VoIP is used for business, it helps to improve the relationship and communications with your clients. The VoIP system allows you to easily track and monitor calls and offers a professional front for anyone calling you. You can create specific numbers and attach them to particular promotions, products or services. Your staff can answer the phone with this already in mind and offer the caller a specific greeting that’s particularly targeted to the promotion, product or service that’s associated with that particular phone number.
By choosing to use a range of phone numbers for different types of marketing (newspaper ads, emails, website or poster) you’ll be able to tell which campaign is the most successful and tailor your future marketing strategy accordingly.
Using Gradwell’s unique VoIP control panel, you can produce monthly reports showing precise call statistics : how many calls were made to your numbers, which number was used most frequently, how long the call were and more. You can also relate the data to the productivity of your employees for motivational purposes. Reports can be exported and circulated for analysis in your marketing strategy meetings.
While each of your marketing methods may display a different number, all of the calls can be directly routed to come through to just one desk, one office or a whole call centre. Furthermore, when someone calls one of your VoIP numbers, a short piece of text can be displayed to your staff telling them which product, service or promotion the caller is interested in learning about, preparing them for the call. It really is that simple to improve your marketing efficiency and reporting with VoIP.
Traditional business is about money for services, cash for a product. Increasingly, businesses online are adopting the Freemium model, a concept defined by Chris Anderson of Wired Magazine.
In this video, Freemium expert Peter Froburg talks about the best examples of this model and how it can really work for online businesses in the 21st century.
When thinking about how you attract people to your business, have you factored a “freemium” level offering in? Is it appropriate for your business? Have you tried it? All good questions.
Is it better to work with more businesses (in a relatively shallow way) or is it better to work with fewer but in a more intense way (and therefore with more long-term benefit)?
When working in Africa my preference was to work longer and deeper with fewer people - by handing over the tools I was able see more benefit.
But does this theory (better to go narrow and deep rather than broad and shallow) hold in the UK?
Applied to your own business (and specifically to your marketing) is it better to narrow your focus and look for deep knowledge in a narrow field (niche) or is it better to go broader and shallower?
Case Study One: the business coach who only sells to dentists charges four times the going rate because of his narrow focus/niche expertise.
Case Study Two: the 'tart with a heart' business will sell anything to anyone and does make sales but she gets known for what she does and becomes known as a 'jack of all trades'... Gets lots of work but at low rates. "Jump!" the clients say. "How high?" she says...
Do you have the bottle to go narrower and deeper in your niche or is the recession making you more of a tart? How do you think this is perceived in the marketplace?