VMEdu Welcomes You to the Post-Capitalism Era

It has been said that we are exiting the post-capitalism era, and we weren’t even aware of it. We can thank this monumental shift to advancements in technology. Many terms have been thrown around in regards to what sort of economy we have ventured into—such as the sharing economy or frictionless economy—but what path are we really following?

In a recent article we discussed what exactly the frictionless economy is. The frictionless economy centers around companies that provide platforms on which suppliers and buyers can do business directly. Uber, Etsy, and Fiver are just a few of the hundreds of companies that have sprung up in the last decade offering people the ability to be a “self-entrepreneur.” 

According to Alex Chriss, vice president and general manager at Intuit, “What we find so exciting about this trend is it’s solving what has traditionally been the number one challenge any entrepreneur or small business owner faces: finding customers. We’ve seen millions of small businesses struggle to find their next customer – and this struggle has set a bar, a hurdle for entrepreneurs to jump over. Technology is lowering this bar.”

But what about the sharing economy? Companies such as Airbnb and City CarShare allows owners to rent out something that they are not using. This has generally been sharing a house, car, or bike, but the only constant in technology is change, so this sharing could expand to new avenues. Each sharing-economy styled company provides users with ratings or reviews, so that trust is built on both sides of the transaction.

So, which economy are we really entering? One thing that we have learned from technology is that there are no limits. So, why would we limit ourselves by believing that we are entering just one sort of new economy? It seems to be that we are entering various economies that will create branches rather than one straight path. VMEdu gives professional trainers and educators the ability to be a part of both the frictionless AND sharing economy, with its Learning Management System (LMS). The VMEdu Authorized Content Partner (V.A.C.P.) program is one of the finest adult learning platforms available. The V.A.C.P. program is for anyone looking to create online adult learning courses for any subject and in any language. 

As a partner, you can create and upload your courses with the user-friendly VMEdu Course Builder. You can also run the courses on your website for free. Course materials can include videos, test questions, flashcards, glossaries, case studies and more. 

Once your courses are uploaded via the VMEdu Course Builder you have the option to sell them to the VMEdu network of more than 750 Authorized Training Partners (V.A.T.P.s) in 50+ countries. Having the support of such a strong network will help you reach a larger number of potential consumers in a shorter amount of time. 

The V.A.C.P platform gives you the ability to sell your own courses, do business directly with customers that have been provided for you, and be your own boss in addition to hosting your courses on your own website to share with your contacts. This program equips you for whichever future economy becomes our reality.

You can find more information on the VMEdu V.A.C.P. program at www.vmedu.com/Benefits-of-VACP.asp 

How Information Finds You: Hyper-relevant Content Marketing

“If the news is that important, it will find me.”

This (in)famous declaration was made by an anonymous college student in 2008 during a focus group conducted by Jane Buckingham, founder of the market research company Intelligence Group.

Since 2008, this remark has made the rounds. It’s been quoted and discussed in both media and marketing worlds. It’s even been cited by the New York Times. And if you have to ask why, you haven’t been paying attention. This statement, which seems like a throw away (let’s be honest) has proven to be the number one guiding principle in both media dissemination and marketing in the new digital age.

As Joshua Benton remarked in a recent piece for NiemanLab, “If the news is that important, it will find me. I can’t tell you how many conferences, how many symposia, how many gatherings of worthies I’ve been at where some version of that line has been tossed around.”

It’s true! I’d heard it mentioned during a class on 21st-century journalism in 2009. At the time, old time journos scoffed at the student’s “laziness” or “lack of interest” in the wider world. But today, no one scoffs at the idea of providing valuable, relevant content, served up directly to viewers through the various social media channels. This is now the expectation. If it’s important, it will find you.

Marketers, like the media, have adapted. And one of the methods hyped over the last few years is content marketing. But with massive quantities of information bombarding us daily, we are reaching what is referred to as “Peak Content” or “the point at which this glut of things to read, watch and listen to becomes completely unsustainable,” according to author Kevin Anderson in 2014.

With Peak Content looming and with the understanding that a story (or content) MUST be important enough to reach the reader/viewer, successful marketers are turning to extra relevant, extra valuable content that will cut through the fracas. As this happens, the question then becomes “what’s relevant?”

Relevance often depends on individual circumstances and numerous other factors that may be at play at any moment in a person’s life. But there are some general assumptions that can be made. For example, most people will be thinking about breakfast in the morning. Or, if someone is awake late at night, information on insomnia might be something they’d like to see.

Enter the hyper-relevant content marketing plan, predicted by some to be a major social media marketing trend in 2016. Hyper-relevant content marketing takes into consideration the season, time of day or other societal factors that may be affecting a person’s need for a specific type of information.  

One such marketer, Amanda Todorovich, manager of Digital Engagement for Cleveland Clinic, is achieving major success producing hyper-relevant content by fine-tuning her organization’s marketing to maintain “evergreen” value for everyone and then offering it wisely within marketing channels.

“We are trying to put content in front of people at the right time,” Todorovich said. “We try to marry the best times of day on each channel with the best content and what people are using those channels for. Not everything gets posted on every channel we're on.”

By assessing the relevance and value of the content being used within a marketing strategy and utilizing the channels as well as season or time of day effectively, a marketer can be sure to hit the target more directly and at the same time find they’ve contributed something of genuine value to the online community.

For more resources and information on sales and marketing visit www.SMstudy.com

[Spring Eselgroth, VMEdu staff writer, contributed to this article.]

Sources:

Peak Content: The collapse of the attention economy, Kevin Anderson. Jan. 4, 2016. ehttp://www.themediabriefing.com/article/peak-content-the-collapse-of-the-attention-economy

“If the news is that important, it’ll find me.” But what determines if it’s important?, Joshua Benton, Feb. 20, 2014. http://www.niemanlab.org/2014/02/if-the-news-is-that-important-itll-find-me-but-what-determines-if-its-important/

Behind the Scenes of the Cleveland Clinic’s Content Marketing Strategy, Brianne Carlon Rush, Dec. 2, 2014. http://www.kunocreative.com/blog/cleveland-clinics-content-marketing-strategy

Great Teachers Deserve the VMEdu Authorized Content Partner Program

Great teachers are rare. Great teachers should be prized for what they give to the world. A great teacher should not have to slog it out alone, wasting precious time taking care of the tedious work that must be completed in order get thier courses recognized and propeled to success. This is where the VMEdu Authorized Content Partner (V.A.C.P.) program can come in handy. The V.A.C.P. program offers to take on the heavy lifting of course preparation, presentation and management, leaving great teachers with time to do what they do best...teach!   

The VMEdu Authorized Content Partner program provides real advantages for teachers who are ready to get the word out about their courses!

The V.A.C.P. program lets teachers create and upload courses through an easy-to-use cloud interface called the VMEdu Course Builder. Everything related to your course, including videos, test questions, case studies, flashcards study guides and more can be included. And have no fear, the VMEdu technical team is always available to assist with course creation or any other technical assistance. There is no cost for creating or uploading your courses, and zero licensing fees.

The creation of a mobile app is another perk of the V.A.C.P. program. VMEdu can create a mobile app to support your courses with both your company name and logo. This app can be used by students to experience all available  courses as well as provide students with flexibility they need in their learning experience. Apps can be downloaded from the Google Play Store (for Android App) or Apple App Store (for IOS App).

In addition, VMEdu has a global partner network of more than 750 Authorized Training Partners (V.A.T.P.s), and if so inclined, teachers can sell courses to the VMEdu A.T.P. partner network. Prices are set by the teacher and VMEdu assists in reaching out to its large network of corporates, colleges/universities, training companies and individual trainers. This helps increase reach and at the same time garners additional customers and revenues. More specifically, if a course relates to sales and marketing, teachers may consider selling their courses through SMstudy.com, the global accreditation body for sales and marketing certifications.

VMEdu understands that managing classes can take up a ton of valuable time, so they’ve created an easy-to-use portal where teachers can manage course-related activities such as student access, course financials and course reporting.

With all the benefits of partnering with VMEdu, teachers now have an option that makes sense. The V.A.C.P. program is the accommodating, helpful, time-saving platform that teachers need, so they can focus on the important work of teaching.

For more detailed information of the VMEdu Authorized Content Partner program, visit http://vmedu.com/Benefits-of-VACP.asp

Can You Really go Viral?

Lately, I have been asking myself, “Why do companies really push their marketers to go viral?” Only 15 percent of marketing material actually goes viral, so why not push for something more realistic? I get that companies want to “Go big, or go home,” but this mindset just wastes marketing dollars.

Going viral literally just means the number of views your campaign reached. So, the obvious choice to get your marketing to the masses is social media. According to Jason Akeny, a contributor at Entrepreneur, “Getting your brand noticed via social media grows more difficult with each passing day. Users upload 100 hours of video to YouTube every 60 seconds and share more than 4.75 billion pieces of content on Facebook every 24 hours. Add to that 500 million new tweets per day, and the chances of breaking through to a wider audience can seem virtually nonexistent.”

The companies that have mastered the art of going viral, such as T-Mobile, Similac and Chipotle also have the marketing budget, for lack of better words, to waste when it comes to focusing on going viral. So, what can small businesses do to reach this same level of success? The truth is going viral isn’t an effective marketing strategy. This may be a hard pill for many to swallow, but it is still possible for those smaller companies to go viral, it just can’t be the end goal.

There is also the misperception that if you produce more content then it has a higher chance of reaching more people. But it will most likely just get lost in the social media ocean of information. Companies need to focus their attention on what their marketers are producing; quality not quantity. 

“An assumption can be defined as anything that is considered to be true without proof,” states Marketing Strategy, book one in the SMstudy® Guide. So, going viral is really just that, an assumption. How do we prove how to go viral? As stated in the book, “Competition analysis involves examining the competitive landscape for competing products with a view to understanding the company’s current product portfolio relative to other products and determining opportunities for product differentiation.”

This does not necessarily mean that an analysis should be done for a company’s specific industry, but rather for many industries in order to find that proof. When it comes to creating viral content there is no formula, but evaluating how other companies achieved their success is a good place to start.

Companies that are looking to successfully market their brand (this is what the main focus should be) need to think outside of the box. Madison Avenue has always struggled to market feminine product companies. Women just don’t associate their “special” time of month with dancing on the beach in white pants. In 2013, HelloFlo, a subscription-based company that delivers feminine products right to one’s door launched.

The new brand was barely keeping their head above water when they decided to try something a little different. They decided to be honest. “The Camp Gyno” hit YouTube in the summer of 2013 and within 24 hours it became the ad of the day and reached 6 million views in its first month. Not too shabby for a product that was produced on a small budget.

It is possible for small businesses to go viral, but that doesn’t mean it should be the goal. The goal should be to create quality content that breaks away from the norm and makes people think, laugh, or even cry. Producing a content mill will not reach your prospective consumers, but creating the right content will. Stop wasting your time producing a lot of content when you could be producing the right content. Go ahead, I dare you.  

For more information and interesting articles go to SMstudy.com.

The Search for Social Media Insights

It may be time to recognize that data collected from social media will not so easily reveal its immediate impact on a company’s sales (as we’ve said before, it’s proven to be a bit slippery). But this doesn’t mean the baby should be thrown out with the bathwater. In finding ways to prove its value, social media marketers are changing the conversation away from a cause/effect relationship between a company’s marketing and its ROI to a deeper understanding of social data’s value. And as it turns out what it offers is way more valuable- the unprecedented parse-able social insights of a population.

In a recent post, we explained that the number one problem facing social media marketers today is tying social data to an increase in the bottom line (or the sales of a product or service). The challenge of “proof,” in turn, was making it harder to make a case for additional investment in social media marketing.

We said, “Demonstrating the value of the social programs within the company was, in fact, the top challenge noted (60%) by survey participants consisting of 600 media marketing professionals.”

 The State of Social Marketing 2015 report by Simply Measured states, “Companies of all sizes and maturity levels are struggling to prove the value of their social programs. Social media activities can be difficult to quantify, and marketers are trapped between readily available “vanity metrics,” such as Likes and followers, and difficult-to-measure objectives such as brand awareness.”

We went on to suggest that unless there’s a collapse of the capitalist system, better tools will surely arise to address the challenge. But we also noted, of equal, if not greater importance, would be the ongoing discovery of more creative and accurate ways to query the data.

As marketers hone in on methods to extract the gold nuggets of consumer intel out of the mountain of information, they’re hitting upon the true capital of social media- the most comprehensive picture of consumer behavior, sentiment and decision-making process they’ve ever been blessed to lay hands on. This might not be the smoking gun that ties directly to a sale, but, in fact, presents many more gifts in the long run as John Donnelly III, SVP of global sales and marketing at Crimson Hexagon, points out.    

 “One of the most effective ways to glean consumer insights is by analyzing social media conversation… sales teams are realizing that social media is rife with information about what their prospects care about, how they consume media and what motivates their decision-making,” said Donnelly.

Based on Donnelly’s presentation and other insights, here are some ideas to consider when taking the dive into social data.  

Get granular. Almost any question a marketer has regarding brand perception, market competition and the general sentiment of people discussing a product or brand can be found through social media analytics, so ask away.

Getting granular also let's marketers zero in on microsegments of the population that either are or can be Word-of-Mouth advocates for a brand or product.

Word of Mouth is the golden standard for all marketers. The ability to target Word-of-Mouth advocates on social media can be the difference between success and failure. Writing for convice&convert, Devon Wijesinghe discusses the importance of Word of Mouth and how it can be used.

“This rich source of information comes in handy when you’re looking to generate Word of Mouth about your brand. Tapping into the “right” market segments—segments whose interests and values are aligned with your brand—can be the catalyst your campaign needs,” Wijesinghe said.

Layer trending topics on top of a hyper-targeted market segment (both bits of information available through social media data analysis) and a marketer has made a happy marketing marriage.  

Focus groups may be passe according to some, but testing is still very much a part of the marketing strategy. From a product standpoint, social media insights can reflect the strengths and weaknesses of a product’s lifecycle as well as the effectiveness of current marketing efforts. Filling the role of the modern-day focus group, social media insights are also valuable for taking the temperature of the public on an idea such as a logo or slogan, a product or service. Testing the social media world’s tastes and perceptions allows for adjustment before launching, saving money and perhaps even preventing a catastrophic mistake.  

Social media data is virtually limitless (pun optional) and social media marketers are stepping up and learning how to use it best. We expect to be reading many more social media data “hacks” in the future. Stay tuned.

Visit smstudy.com/articles for additional articles on sales and marketing. 

Sources:

"How to Sell Smarter Using Social Insights," Devon Wijesinghem http://www.convinceandconvert.com/social-media-measurement/social-insights/

"Supercharge Your Selling Strategy: The Power of Social Data," John Donnelly, https://inbound.org/discuss/john-donnelly-forget-the-focus-group-how-social-insights-can-help-you-sell-smarter-at-inbound15

The State of Social Marketing- 2015, Simply Measured, http://simplymeasured.com/#sm.0001gymsunkgqdcepli19xtqnlo4p

Evolution of a Logo

Walk through any airport and you’ll experience the power of logo. Starbucks’ green siren beckons from down the terminal, easily recognized 200 yards away. Cinnabon’s royal blue ribbon assures you there’s a tasty treat waiting for you. McDonald’s, Burger King, TGIF, Chili’s—you know them. All have risen to the top of the logo ecosystem, known and understood by consumers across the country and often around the globe.

Communicating the “right” message via a logo is of critical importance throughout the life of any company. According to theSMstudy® Guide, “This image communicates the promise of value the customer will receive from [their] product or products.” A logo becomes the most recognizable symbol of a company or brand and ideally should be unique, adaptable, timeless and appropriate. These four characteristics identified by Inc. are considered essential for a great logo.

Having a unique logo is essential for companies or brands to be easily identifiable in the vast consumer marketplace, such as in the airport terminal scenario above. So when it comes to logo updates and changes, Business Insider reminds us that the process is a delicate one and that certain qualities must remain constant.

Business Insider’s Jason Nazar says, “Every brand hopes to elicit from its logo (a sense of) fondness and comfort with a touch of excitement. Every logo must walk the fine line between nostalgia and modernity; you want to remain your lovable self, while staying current.”

With all these factors to consider, logo evolution can become a dicey affair. But as Inc. points out, logo adaptability and appropriateness allow for, and indeed require, revamping from time to time. Many companies are willing to risk the public backlash—an ever-lurking possibility—and make changes for the sake of keeping up with customer tastes.

Companies have tackled the problem of keeping logos “lovable” but also making them “current” in various ways. Some companies have adopted a gradual design evolution approach while others have opted for more dramatic transformation.

One of the logo success stories that’s made gradual design iterations to reflect the changing tastes of customers over the years is the coffee giant Starbucks. Since its founding in 1971, Starbucks has evolved its logo to project a modern aesthetic yet keep its most memorable elements. 

Here you can see the evolution of the Starbucks logo … in 1971, 1992 and 2011.

Oftentimes, major logo alterations accompany big changes within a company. Moving into a new market or changing the name can present the opportunity for radical logo transformation.

One company that chose a more dramatic logo change was the luxury auto manufacturing company Mercedes Benz. Although the company had existed since 1883, the first Mercedes logo wasn’t introduced until 1902.  

The now famous three-point star was brought into the logo design in 1909 and has remained one of the logo constants despite various logo modernizations.

Here you can see the evolution of the Mercedes Benz logo from 1902 until modern day.

Regardless of where a company finds itself in the marketing process, the impression created by the face of the company (logo) is always something to keep at the forefront of the marketing strategy, whether the company is new and looking to create a great first impression or whether the company logo is well known to consumers but needs a little freshening up. [ML1] Whether the intention is to wow the marketplace with a new company presence or to freshen up the look of a well-recognized brand, a business’ marketing strategy should continually monitor the impression being created by the face of their company, their logo.

Inc., Lauren Cannon

http://www.inc.com/ss/4-characteristics-of-great-logo-design

Business Insider, Jason Nazar, Nov. 21, 2013

http://www.businessinsider.com/evolutions-of-the-biggest-business-logos-2013-11

SMstudy® Guide; Marketing Strategy, p. 19.http://www.smstudy.com/SMBOKGuide/Overview-of-SMstudy-Guide

Increase Your Online Success With An Effective Website

An effective website is a critical component of a company’s overall online success. Company’s website serves as the central hub and foundation for its online activity. With a plethora of available website designs, the digital marketing team must determine the appropriate and optimal design and message.

Besides having a basic understanding of the technology on the website, the digital marketing team must also consider the following facets of creating a website.

Consumer Perspective

• Relevancy—Age, cultural nuances, geography, and other demographic factors of the target audience will influence the type of content on the website.

• Usability Design—The digital marketing team must take into consideration how technically savvy its target customer is. If the target customer does not generally have the appropriate comfort level with technology, the team should design a simple, text-based layout with easy navigation and basic features. If the target customer is comfortable and familiar with the Internet and computer use, a more intricate, interactive, and information-rich website can be implemented. The design of the site should depend on the expectations of both the users and the company. In some cases, the development might focus on consumer engagement, while in other cases, the design might be oriented toward supporting task-oriented behavior such as the ability to make changes to one’s account, purchase a product or service, and so on.

Site Development Perspective

• Purpose—Companies maintain a web presence for a variety of reasons. While some companies use websites as their main method of selling their products, other companies have an online presence just to support their business, message, and brand position. There are companies that use websites as a public relations (PR) tool, to enhance brand value in the minds of their customers, or to evaluate product feedback from customers that may help in understanding customer needs, general communications, product updates, and sales. The digital marketing team is responsible for ensuring that the website is designed to meet the overall strategic objectives outlined in the Marketing Strategy.

• Planning—The digital marketing team must work with the website development team to plan the execution of the website, beginning with creating a storyboard for the website; listing functional requirements; building the database structure; developing wireframes; and determining hypermedia linkages, search engine key words, graphical design components, user interface designs, audio/video sources, animation, and text requirements and formats.

• Performance— The digital marketing team also must consider the logical design of a good website, compare the performance of competitor websites to identify best practices, check for effective performance across browsers and operating systems, and perform usability testing of the website to ensure that it is easy to use.

• Maintenance—Websites create an online presence for a brand, so the marketing team must ensure that the website is maintained and tested regularly. Downtime on a website may adversely impact the direct online sales of products and may also taint brand reputation in the minds of consumers.

The brand messaging on the website has to be in-line with the overall brand message and must stay relevant to the target audience.

5C Analysis

5C Analysis is a technique used to conduct situation analysis. Conducting a situation analysis is one of the important steps in identifying the research problem. A situation analysis involves examining the external environmental factors and internal organizational capabilities that impact how a company operates.

5C Analysis is one of the most popular and useful frameworks in understanding internal and external environments. It is an extension of the 3C Analysis that originally included Company, Customers, and Competitors. Collaborators and Climate were later added to the analysis to make it comprehensive. This integrated analysis covers the most important areas of marketing, and the insights generated can help identify the key problems and challenges facing the organization. However, it should be noted that not all five elements need to be considered when identifying the problem in a particular area of marketing. Depending on the area of marketing under scrutiny, some areas need to be given more importance than others.

• Company—The company analysis studies an organization’s vision, strategies, capabilities, product line, technology, culture, and objectives. It is useful in understanding the existing and potential problems with the company’s business.
• Customers—Understanding customers is a key part of situation analysis. It involves knowing the target audience, their behavior, market size, market growth, buying patterns, average purchase size, frequency of purchase, and preferred retail channels.
• Competitors—Competitor analysis is critical in understanding the external environment in which the firm operates. This analysis involves knowing the competitors’ strengths, weaknesses, positioning, market share, and upcoming initiatives.
• Collaborators—Collaborators are the external stakeholders who team up with the organization in a mutually beneficial partnership. Agencies, suppliers, distributors, and business partners are typical collaborators. It is important to understand their capabilities, performances, and issues to better identify business problems.
• Climate—Climate analysis is the evaluation of the macro-environmental factors affecting the business. PESTEL analysis can be used to analyze climate—political, economic, social/cultural, technological, environmental, and legal scenarios are included in PESTEL.

To learn more about 5C analysis and other situation analysis techniques, visit SMstudy.com/articles

VMEdu and the Way of E-learning

Companies have long known the financial benefits of online training over physical classroom learning. In fact, companies can save anywhere between 50–70 % on training costs by switching to e-learning alternatives. So naturally it was love at first sight for company bean counters and executives; however, humans, or e-learners, clearly were not so impressed.

Early assessments of e-learning iterations were pretty unanimous: they were dry, boring, technically complicated and didn’t satisfy any quality benchmarks. In other words, the courses weren’t top notch, according to Francisco J. Garcia Penalvo, professor at the University of Salamanca who documented the origins and subsequent growth of e-learning in his book, “Advances in E-learning: Experiences and Methodologies.”

“In spite of everything, the growth of e-learning is unstoppable, and every important institution (academic, enterprise, or otherwise) knows about the necessity of creating and developing a department or service specially devoted to this subject. E-learning deserves to be considered as a real revolution, ‘The Globalization of Training,’” Penalvo said.

Many of those early complaints are now in the past as e-learning has matured over the last ten years and evolved into a human-centric learning experience with technology (ironically) aiding the e-learning “revolution” Penalvo speaks of enthusiastically.

Although a reported 20% of surveyed individuals still note technical issues as the main frustration with e-learning, it now appears that technology has caught up with our learning preferences and e-teachers as well as learning management systems (LMS) are tempting more students than ever on a global scale. In 2015, the global market for e-learning was $170 Billion, a staggering increase of $75 billion in five years.

One technology that has allowed tremendous growth in the field of e-learning is the global penetration of mobile phones. At some point in 2016, 2.1 billion smartphones are estimated to be in use around the world. In particular, China, Indonesia and Russia are anticipated to see substantial growth in smartphone usage over the next two years. And in the case of India, smartphone usage is predicted to surpass the U.S. as the second largest user of smartphones in the world by the end of 2016. This boom has opened up a huge population to the opportunity of lifelong learning. This period of intense growth in smartphone use has tracked with the rise in e-learning to such an extent that it has been noted by Ambient Insight Research, an online resource for statistics and information related to the e-learning industry.

The report states “The astonishing growth rates and adoption rates in countries like Laos, Thailand, Uganda, Cambodia, and Ghana are good examples of once-nascent markets that became vibrant revenue opportunities for suppliers in just the last two years (literally "overnight" in the context of a learning technology product lifecycle.)”

One such company offering human-centric learning options at the vanguard of e-learning is VMEdu, Inc. Refined over seven years, the VMEdu Cloud Learning Management System (LMS) offers one of the finest platforms for e-learning currently available globally. The VMEdu LMS is open to anyone, anywhere (in any language) and offers ultimate flexibility for both students and teachers, including mobile as well as hybrid options.

VMEdu is a global leader in adult education through its multiple brands and partner ecosystem. The company has taught more than 500,000 students from 150 countries and 3,500+ companies and has an extensive V.A.T.P. (VMEdu Authorized Training Partner) network of 800+ partners in 50+ countries.

For more information on VMEdu’s e-learning courses, platform and training opportunities, visit vmedu.com.

To read more articles about sales and marketing, visit www.smstudy.com/articles

Sources:

“Advances in E-Learning: Experiences and Methodologies,” Francisco J. Garcia Penalvo, University of Salamanca. 2008. Information Science Reference, Hershey, NY.

“Mobile Worldwide Active Smartphone Users Forecast 2014 – 2018: More Than 2 Billion by 2016” Ambika Choudhary Mahajan, Dec. 18, 2014. http://dazeinfo.com/2014/12/18/worldwide-smartphone-users-2014-2018-forecast-india-china-usa-report/

“International E-Learning Market Research Report 2015,” Ambient Insight Research http://www.ambientinsight.com/Reports/eLearning.aspx#section2

“The Top eLearning Statistics and Facts For 2015 You Need To Know” eLearning Industry

http://elearningindustry.com/elearning-statistics-and-facts-for-2015

OOH, Electronic Billboards

More than six thousand digital billboards light up America’s roadways, yet, we’re still in the dark![1]

We thought that—with the explosion of social media, the long (waning?) reign of broadcast advertising, Internet advertising, and more—billboards, like sandwich boards, were becoming a thing of the past. Yet, according to the association, there are more than 158,000 standard billboards (also known as “bulletins” in the trade) and 165,500 posters (the slightly smaller sized billboard common in urban settings). Then there’s “billboards” on the sides of trucks, 2,700, and wrapped around buses, 205,000. That’s a lot of OOH (Out of Home) advertising!

This exemplifies something that Marketing Strategy, book one in the SMstudy® Guide series, says: “Rather than viewing the changes as completely replacing the earlier practices, Sales and Marketing approaches should be viewed as a continuum where recent innovations can co-exist with earlier practices.”  

If you have been following our posts at SMstudy, you may remember that we have addressed the idea that old ways stay and can continue to be profitable even in the midst of great innovation.[2] OOH advertising offers two examples of not only how older approaches can remain relevant but also co-exist in symbiotic relationships.

As the numbers quoted above show, billboard advertising is alive and kicking in today’s innovative age. One cause of this is that “the brevity of OOH’s copy is ideal for driving traffic to a website,” according to OAAA. In cities with the fifty worst commutes, Americans spend from 32 minutes (with 8 percent of this city’s commuters spending more than an hour) to 42.6 minutes (and 25 percent spending more than one hour) one way.[3] That’s a lot of time spent slowly moving with the traffic flow. The vast majority of Americans spend from 30 minutes to an hour driving to and from work. Include the time they spend traveling for other purposes and that’s like having an arena’s worth of people idling past every billboard. 

Co-existing can be more than just parallel existence at a distance. For example, “OOH reinforces television messages when viewers are away from their homes during the course of daily activities,” says to OAAA adding, “Television is expensive. OOH improves the efficiency of a television campaign buy by driving down CPM costs. OOH reaches light TV viewers who are younger, mobile, and more affluent than heavy TV viewers.”

OAAA points out that “younger, mobile, and more affluent than heavy TV viewers” also describes Internet users. This becomes an important insight when the marketing team considers its product’s marketing mix. “In a differentiated targeting strategy, a company directs its marketing efforts towards two or more segments by creating a different marketing mix for each segment. Each marketing mix for this strategy typically varies depending on product features, distribution methods, promotion methods, and pricing,” according to Marketing Strategy. As each market segment is targeted, the team develops a mix of “promotion methods.” These methods can include conventional mass media marketing and fragmented new-age marketing (aimed at channels such as Internet, social media, and mobile devices).

The old and the new not only can exist side-by-side but they can flourish. And that’s something to OOH and ah about!

For more interesting and informative articles on sales and marketing, visit www.SMstudy.com/articles

Sources: 

[1] This datum is according to the Outdoor Advertising Association of America (OAAA) in their OOH (Out of Home) Formats on the OAAA site at https://www.oaaa.org/OutofHomeAdvertising/OOHMediaFormats/OOHMediaFormats.aspx

[2] As in our recent blog, “Pushing the Envelope: The Case for Paper,” www.smstudy.com/Article/pushing-the-envelope-the-case-for-paper

[3] “The 50 Worst Commutes in America.” (1/28/16) MSN; News. Retrieved on 4/12/16 from http://www.msn.com/en-us/news/us/the-50-worst-commutes-in-america/ss-AAakiJv#image=51

Inventions from 1900-1910: Deja vu All Over Again

There are some things I never do on social media. When I get a post with a picture of an old-fashioned pencil sharpener, apple corer or slide rule and it says “If you’ve ever used one of these, Like and Share,” I never do. And it’s not just because I don’t want to admit how old I am.

Looking back in history can be much more helpful than trying to get one up on “those young people today” by showing how difficult you had it and they should be glad they have it as easy as they do! Looking back in history can actually help people deal with the present.

With this in mind we thought we would take a quick look at the first decade of the Twentieth Century and draw some inferences relating to the first two decades of the Twenty-first.

We researched several websites and found that a lot of things happened from 1900 to 1910, inclusive. From the frivolous to the profound, some of the inventions and advances still affect America and the world today. In 1905, the American form of football allowed the forward pass to stop injuries and deaths caused by brute-force tactics such as the “flying wedge.” Today, the National Football League is trying to make reforms that will minimize, or do away with concussions. Also in 1905, Albert Einstein published a paper introducing the idea that the formula for determining energy is a direct ratio with the combined characteristics of mass and the speed of light squared, e=mc2. In that same year, he published a fuller elucidation, his theory of relativity. (We felt like we could use phrases like “fuller elucidation” when we’re talking about such heady stuff.) From those papers have risen arsenals, energy generation, medical uses of radiation, and advances in the physics that run our televisions and computers, among other things.

Speaking of televisions and computers, both of these have their roots in Lee De Forest’s invention of the vacuum tube triode in 1907. “The three terminal setup could serve as an electrical switch. When you changed the voltage traveling to one terminal, you could reduce the current following between the other two terminals. In this way, you could turn it ‘on’ and ‘off.’ That's your 1 and your 0,” says Wired.com in reference to the binary code used in programming.[1]

The more immediate use of the vacuum tube was in building the sets needed to receive that new-fangled thing called radio. De Forest used his vacuum tube to transform “those taps and clicks [of Marconi’s wireless telegraph transmissions] into the broadcast communication system we know today,” according to Wired, adding, “Forest, who also coined the name ‘radio,’ used his invention to send the first over-the-air public broadcast on January 12, 1910.” 

From all this, it becomes apparent that first decade of the twentieth century saw the new arrivals of more than twenty inventions that reshaped life and business. Mercedes (1901) and Ford (1908) took the automobile from the showcase and exhibition track to the roads of America and Europe in mass numbers. Along the way, they also invented the car salesman. 

These inventions made their creators wealthy through marketing. In 1908, Dr. Julius Neubronner combined invention and marketing into one operation. He fitted “tiny timer-driven cameras to pigeons and developed and printed the photos immediately upon the birds’ return, selling them as postcards on the spot,” says Wired. They also say, “Take that, UAV cams!”

Apple Computers is the modern poster child for this symbiotic relationship between innovation and marketing. And that brings us to Digital Marketing, book three in the SMstudy® Guide series, “Today, consumers have multiple ways of searching, learning about, and purchasing various products and services, and e-commerce technology has offered the convenience of secure and instant transactions.”

In 1901, the vacuum cleaner was invented and was soon followed by the door-to-door vacuum salesman. The invention of the radio brought radio advertising, which was one of the methods inventor and businessman George Louis Washington used to turn his 1909 invention of instant coffee into a mansion in Brooklyn and a lodge by the beach in Belford.[2]

Automobiles brought roadside signs and billboards. Walls in every major urban setting became festooned with advertising aimed at the motoring masses. The marketing messages were everywhere. Conventional mass marketing made sure they even arrived in peoples’ mailboxes.

Today’s market seems filled with innovation and invention on steroids. “Consumers can receive messages from any of the several hundred television and radio channels, a variety of print media, including newspapers, magazines, and trade publications; and, online, it’s difficult to check e-mail without various banner ads popping up. The messages are constant,” saysDigital Marketing.

“For businesses, in this age where consumers are continuously provided with choice, the challenge is finding ways to stand out.” SMstudy and the SMstudy® Guide are designed to help sales and marketing professionals and entrepreneurs handle the change in ways that make them stars.[3]

For more informative and interesting articles on sales and marketing, visit www.SMstudy.com/articles

[1] “The Decades that Invented the Future, Part 1: 1900-1910.” (10/12/12) WIRED. Retrieve on 4/13/16 from http://www.wired.com/2012/10/12-decades-of-geek-part-1/

[2] Janie (4/13/2015) “20 Influential Inventions from 1900-1910” JellyShare Retrieved on 4/13/16 from http://www.jellyshare.com/article-194/20-influential-inventions-from-1900-1910.htm

[3] For more information about the SMstudy® Guide, visit http://smstudy.com/SMBOKGuide 

How to Perform Market Trend Analysis?

A market trend analysis is an analysis of past and current market behavior and dominant patterns of the market and consumers. An important aspect of conducting a trend analysis for an organization is to obtain insights on the market scenario, consumer preferences, and the macroeconomic environment.

Marketing research methods, such as surveys, interviews, and observations of consumer behavior, help in understanding the trends and behavior in the market.

Trend analysis is a subset of the PESTEL Analysis—an examination of the Political, Economic, Social, Technological, Environmental, and Legal implications of the market as they relate to consumer trends. This analysis provides an all-round perspective of the external factors that impact the business.

While determining future objectives for a product or service, trend analysis is used as a basis on which future market projections are made. Market trend analysis involves analyzing the following areas:

• Trends in Consumer Needs and Behavior—A business that is able to identify a specific trend in changing consumer needs and behavior may be able to cater to these needs and project higher growth rates.

• Shifts in Consumer Perception of Value—Trend analysis involves timely analysis of consumer needs and positioning of the product or service in the consumer’s mind. An aspect of a product or service, which would at one point in time have contributed to the consumer’s perception, may later lose value if the competition replicates it. For example, if Shop A in a particular town was the only department store providing free home delivery for customer orders, it may hold a better perception in the consumer’s mind due to this additional service. However, if competitors start providing the same service, the value perception for Shop A would likely decrease.

• Trends in Industry Cost Drivers—Businesses need to be aware of changes in composition of the cost drivers and also innovations that lead to lower cost alternatives. Companies that are able to find better alternatives, which are more economical or offer additional features, can gain a competitive advantage and achieve higher objectives.

• Change and Evolution of the Industry—Companies continuously analyze trends in terms of product innovations, competitor product features, and new operation and delivery methods. Such analysis helps the business stay ahead of the curve to understand changing market trends and project objectives accordingly.

Trend analysis is a very common strategic tool for understanding the market maturity (i.e., whether the market is in a growth or decline stage) to gauge future market potential and the overall position of a business in the market.

Since market trend analysis involves understanding past market behavior and expected future market innovations, a major effort in conducting trend analysis is dedicated toward collecting relevant data. The authenticity of this data determines the accuracy of the projections, which subsequently impacts the objectives set for a particular product or service.

To read more articles about sales and marketing, visit www.smstudy.com/articles

Eye-to-Eye on IT Value, Marketing and SMstudy

When designing a marketing strategy should you start where you want to be, or where you are?

If you’re a motivational speaker, you’re probably saying, “Start where you want to be.” If you’re a process engineer, you’re likely to say, “Start where you are.” If you’re a marketing strategist, you’re probably saying, “Yes.”

“But it’s an ‘either/or’ question!” they might remind you.

“True, but the answer is still ‘Yes,’” you would answer.

In sales and marketing, there must be a strong focus on goals and objectives, the “where you want to be”bit. “The Corporate Marketing Strategy is defined at a corporate level. It defines the overall marketing goals for the company. These general marketing goals drive more specific marketing strategies for each of the company’s business units or geographies,” saysMarketing Strategy, book one of the SMstudy™ Guide.

Can the company meet these goals? The answer to this lies in the “where you are.” “The strengths and weaknesses of a company determine its internal capabilities to compete in a market and to fulfill customer expectations,” says the SMstudy™Guide. “Strengths provide the company with a competitive advantage and weaknesses place the company at a disadvantage.”

“Start where you are” is one of the “Practitioner 9 Guiding Principles” identified by Axelos, the people responsible for publications coming from the Information Technology and Infrastructure Library (ITIL) of the British Home Office. These principles are designed to help IT practitioners succeed in an increasingly customer- and market-oriented service environment.  

One of the key “Practitioner Guiding Principles” is “focus on value.” This is something marketing professionals know very well: their product’s or service’s value proposition. “All successful products or brands need well-planned marketing strategies in place to ensure that they satisfy the goals set by the corresponding Business Unit or Geographic level, and in turn the overall Corporate Marketing Strategy. Marketing Strategy is therefore one of the most crucial Aspects of Sales and Marketing. It defines a product or brand’s unique value proposition, target markets, and the specific strategies to be used to connect with defined audiences,” according to the SMstudy™ Guide.

Arriving at a value proposition involves identifying the target market segment: what are the people that make up this group like? What do they do for a living? For recreation? How do they spend their money? These are very similar to questions that IT developers ask and answer when creating personas for their end users and customers. How will they use this service? When will they most likely access it? What will it do for them? How much is this worth to them? The confluence of service development and marketing is becoming greater and greater.

With the decreasing time between product development and its “hitting the shelves,” it seems inevitable that marketing interests and elements would enter product lifecycles earlier. Which ties in well with “Practitioner Guiding Principle” number 8: collaborate. The real value that developers put into a product after conferring with marketing and management becomes the real value that the sales and marketing people communicate to the customers, who buy that value, take it home and cherish it. Everyone is working together and the world’s a happier place.

For more informative articles on Sales and Marketing, visit www.SMstudy.com/articles