With a quick internet search, you’ll find numerous articles discussing the brand loyalty of Latinos. While Latinos are paving the way in market trends, it seems that a small amount of experts are addressing this phenomenon, and a consumer study was released accordingly in December with the purpose of identifying these trends.
The study was conducted using a ‘risk vs reward’ module, breaking the average purchase down into four definable categories. The ‘burden’ category includes items that are perceived as being high risk and low reward. Take health insurance, for example – the wrong company may charge you exorbitant rates, but you only see benefits if you have a medical emergency. Other categories include passion (low risk, high reward purchases), routine (low risk, low reward), and entertainment (high risk, high reward).
The study next focused on how Latinos went about making purchasing decisions. It was found that this was done in a great variety of ways. About one fifth simply sought out the lowest price, while another fifth were most likely to get higher quality items at lower prices by taking advantage of sales, coupons, and other means.
The next fifth seemed to purchase old standbys to keep shopping time down to a minimum – they would simply purchase whatever had worked for them in the past. The rest were made up of those who were looking for top quality items and would do research to find them, bargain shoppers who were looking for deals for the fun of it, and those who shop simply because they enjoy the adventure of it and want to see what is in style. This debunks the stereotypical myth that Hispanics are typically just out for a great deal.
Since the Hispanic community is very tight-knit, it makes sense that social networks influence the way Latinos shop. This includes their social and family circle, both online and offline. Latinos are also very hands on – more than half admit they want to hold a product before deciding whether or not to purchase it.
Latinos are also three times more concerned about the environment of a store while shopping, viewing it as part of the experience. This is likely why Latinos are twice as spontaneous in their purchasing as other shoppers.
I’m personally into showrooming – I love to go into stores to actually see and feel a product, then ‘comparison shop’ and often make the final purchase online. This is very common in the Latino community. Furthermore, nearly half of Latino shoppers will watch videos that accompany products while shopping online, and over a third will leave feedback on items they purchase.
The Latino culture is one of the foremost cultures shaping the future of US sales trends. This makes it all the more important for marketers to take Latino shopping behaviors into consideration when developing strategies for mobile advertising.
|No comments||This entry was posted by EIC Social Media Team on February 18, 2013 at 4:00 pm, and is filed under Digital Advertising. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
It’s a fact that on the worldwide scale, the United States is behind many other countries when it comes to Internet access – both in our connection speed, and in the high cost of access. Nearly a third of the United States can’t afford a broadband internet connection, while in some countries such as Korea more than 9 out of 10 individuals have high speed internet access. Why not make broadband Internet access a public utility so that everyone can benefit from it? Here are some of the reasons why the US is behind when it comes to network connections.
Ultimately it comes down to greed. Sure, there is some expense associated with ensuring the availability of broadband internet across the diverse geography of the United States, but a bigger problem lies in the fact that just a few tech and communications giants control the entire nation’s internet access.
And where is the money from these conglomerates going? Into the pockets of some very wealthy CEOs is one of the main places – in fact, the CEOs from the four largest broadband access providers in the US make between $15 and $30 million a year each.
This is why the average American has less than half the internet speed of the average Korean – we pay more (about $100 per year more) for much less. Meanwhile, the profit margin of ISPs is incredible, with some companies spending as little as 5% of what they take in on providing the access they charge exorbitant rates for. The $100,000’s we spend on internet access is used by these telecommunications giants to ensure that they continue to hold sway in Washington.
Within the next 3 years, it is projected that the average household will use over 50GB’s of data per month. Unfortunately due to corporate policies, it appears as if that data will have to trickle in at just a few MB’s at a time.
|No comments||This entry was posted by EIC Social Media Team on February 11, 2013 at 4:00 pm, and is filed under Technology in Society. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
People often make resolutions to kick off the new calendar year – what should be on the list for mobile marketers? Here are a few things you may look to accomplish in 2013.
The first thing has to be an increase in returns – companies want to see results on the tons of cash they have already sunk into mobile marketing (and they are forecast to spend even more this calendar year). This is the year of showing clients the money.
Another resolution for many is to step up their game. Obviously we want to better ourselves and the quality of our work every year – clients expect that, and we should expect it of ourselves. The mobile market is still evolving, and that means that the market is constantly in flux.
Mediocre results may have been OK last year, but now is the time to root out any issues and clear out any bad business habits your company may have fallen into that are slowing growth – organization of data will be key.
As with any business, we never want to stop learning the trade. This is particularly important in mobile marketing, because once again the playing field is changing on almost a daily basis. Researching the ways that mobile users behave is always a great way to boost your marketing performance, and keeping up to date is going to be key in an industry that thrives on relevancy.
Don’t forget to recycle data – there is such a morass of information out there that marketers can easily become bogged down. Many are trying to take a fresh look at already collected data, saving it for later when it may pay to look again from a different angle. This gives you the opportunity to capitalize on victories over and over again, and also to figure out what you missed when you first made a mistake. We can learn from both our successes and our failures.
Many are also determined to get to know people as individuals. Marketing used to be about the broad spectrum – how do you advertise to stay-at-home moms? What will 18 to 29 year old males be drawn to? But that is the past – we now have access to much more information, and by learning how individuals work a whole new world of marketing opportunities arises.
Finally, the resolution that has to find its way onto everyone’s list is to actually accomplish what you set out to do – don’t be satisfied with resting on your laurels and providing the same service from year to year, because your competition is going to do more.
Set up a plan, stick to it, set reasonable and reachable goals, but also set them high enough to actually make progress – as your client base and bottom line grow, you will be glad that you did.
|No comments||This entry was posted by EIC Social Media Team on February 4, 2013 at 4:00 pm, and is filed under Digital Advertising. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
A decade ago, if you had suggested that the majority of people would be sharing every boring detail of their lives, often publicly on the Internet, you might well have been laughed at. The fact is however that billions of people are updating their Facebook status, posting on Twitter, and uploading pictures of their lunch to Instagram every single day.
Social media is going to be the focus of marketing trends this year. To be ahead of the game and find those individuals that you want to market to, it is necessary to go through the morass of social networking data. You need a way to monitor which videos are hot on YouTube, which hashtags are popular on Twitter and Instagram, and which posts are getting the most likes on Facebook.
This may involve some expensive software tools, but if you are going to engage your audience you need to know where their minds are at right now, especially as trends change from week to week, sometimes daily or even hourly.
When it comes to social media, banner clicks are usually low – they are considered an annoyance to users who are trying to focus on real content, so how do you market to this crowd? You are going to need to create some genuine content, and have legitimate offers available to draw the attention of someone who’s just dropping in to check on their friends and associates – you need to learn what works on each particular site.
Marketing is also about finding people with an audience – one video blogger may have a tremendous following on YouTube, but very few Twitter or Instagram followers. Another socialite may be hot on Pinterest, but behind on their actual blog site. What this ultimately means is that finding different audiences across a number of social media sites will help you to improve your market.
Finally, you need to be able to prove that there are tangible results from what you are doing – if you can prove that your social marketing is resulting in unique hits, you have a marketing plan that will be desirable to businesses. Marketing is about reaching people – and social networking is where people will be in 2013.
|No comments||This entry was posted by EIC Social Media Team on January 28, 2013 at 6:57 pm, and is filed under Social Media. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
When it comes to search engine optimization, everyone seems to have their own ideas about how to make a business thrive. But let’s consider a few myths and discover the truth about SEO.
The first myth is that rank is everything. The fact is, conversion is where the real importance lies. If you rank number one for a keyword that converts two percent of the time, but are sixth behind five of your biggest competitors on a keyword that converts eight percent of the time, then you are at a serious disadvantage. In this situation, more time has to be spent researching the proper keywords before concentrating on ranking. This brings us to our second myth.
Another myth is that you can just maintain a high ranking on your current keywords and stay on top. Research is necessary. If you want to have your SEO matter, you need to update your research data. That means either having someone to handle your SEO, or using an SEO software package to watch current trends.
The idea that you can ignore social media on behalf of backlinks is also a myth. The fact is that it matters if something is getting liked on Facebook, plussed on Google, retweeted on Twitter, or viewed on YouTube. In fact, many of these sites release annual lists of the hottest trends in various fields. The importance of this cannot be ignored when it comes to digital marketing.
The idea that whatever technology you already use for SEO is enough is another myth. That’s like saying modern retail businesses can thrive without keeping up with the latest technology like creating apps for phones and tablets, and utilizing advertising tools like NFC. The truth is that technology (or lack there of) says a lot about your business. You need to stay ahead of keywords, social signals, website traffic analysis, backlinking, and rankings. It can’t be done with old tech.
Finally, it is time to break away form the idea that monthly SEO data is enough. Weekly is becoming the norm and daily is really what you need to give you a leg up.
|No comments||This entry was posted by EIC Social Media Team on January 21, 2013 at 4:00 pm, and is filed under SEO. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
We use our phones for everything nowadays. It isn’t just a phone or even an instant messaging device. We surf the web, use it as a mobile gaming system, shop on our phones, watch videos, and more. People on average spend hours each day on their phones.
Research has shown the degree to which mobile advertising and shopping are affecting the general population. Over half of people surveyed have purchased an item using their phone in the last half of a year. I know I certainly have. Just as many people were shown to have used their phone to compare prices while shopping. I frequently use a barcode scanner to check prices online before purchasing an item at the store that isn’t an emergency.
Surprisingly, nearly half of people admit to having clicked on an ad that they see on their mobile phone. Or maybe that isn’t so surprising since ads are generally tailored to a mobile phone users’ interests. Also, over a third of people have used their mobile device to make an in-store payment. My roommate only ever pays for his coffee from an app that keeps track of his rewards and discounts automatically.
Adults from the ages of 18 to 34 are in what is being referred to as “Generation C.” And the generation is connected. Nearly four fifths surveyed revealed that many of their online purchases made from their phones are based off of recommendations that they have received. I know the last game that I bought came as a recommendation from my brother.
As the cell phone revolution continues to move ahead full swing (and don’t forget tablets), it would not be surprising to learn that many new ways are being developed to interact with this generation and tap the growing market. Marketers are already using data that has been gathered to work on the next generation of mobile advertising.
|No comments||This entry was posted by EIC Social Media Team on January 14, 2013 at 4:00 pm, and is filed under Smartphones and Apps. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
Whether you are running an SEO agency or are part of an in house team, there are a number of things about search engine optimization that you need to know. What are some basic SEO truths that need to be abided by to get ahead? Here are a few.
You must have a strategy for marketing your content. Without marketing, all the backlinking in the world won’t help you stay on top. Don’t get me wrong, backlinks aren’t useless. When it comes to the industry your client is involved in or directories that are specifically important locally, you want to be well connected. However, unless you want your links to just look like spam, you need unique, new, and relevant content on a continuous basis. Whether it is a blog, a news release, or a research paper, having fresh content link back to your site in a natural way will help you to stay ahead in the long term and not just for a few months until the Google algorithm catches up to you.
Don’t waste your time with lengthy reports. Reports are important to decision makers, but if they have hired you, whether in-house or from the outside to do their SEO work, you are being trusted with getting the job done. Spend your time on that. The reports don’t have to look pretty. It won’t mean anything to most people anyway, and the ones who understand it won’t care if it is fancy or plain.
Google may seem ubiquitous, but there is more to SEO. Other sites like Pinterest, Twitter, and Facebook are important and require a company to be present for building reputation. Your keywords should give you the same results on social media sites that they get you on Google.
Remember to work from the ground up. Follow 5 basic steps to the best SEO possible. You start with a good technical foundation. Then it is time for keyword research. The marketing plan for your content is the next, and most important, part of the pyramid. After that you need to socialize. Get on those social networking sites. Finally, go back and rework each step of the process to make necessary improvements, and repeat as needed.
If you stick to these simple processes, you will greatly improve the quality of your SEO.
|No comments||This entry was posted by EIC Social Media Team on January 7, 2013 at 2:37 pm, and is filed under SEO. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
You may surf the Internet every day, but never give a thought to what is going on at the UN. If that is true, then there may finally be a reason for you to pause for a moment and care. The ITU, an incredibly private multinational group, is currently undergoing several weeks of meetings to set international laws that may affect Internet usage. In what way? That’s the problem. No one knows outside of the room. The group doesn’t report to anyone. Any information that has been leaked is all that exists and is hearsay at best. Many complain about the current group that moderates the Internet, calling it a secret society, but compared to the ITU it is basically operating out in the open.
When the US government wanted to pass laws with regards to the Internet, people rose up and made themselves heard, forcing the legislation into oblivion. The problem here is that no one really knows for sure what is going on behind the closed doors, so there is no opportunity for people in general to voice an opinion. At least, not until after it is too late to do anything about it. So why are the meetings taking place? There are two primary factors that governments are trying to secure that we know of.
First of all, many governments want the ability to restrict Internet access and censor it. This isn’t new. China already does it on a country-wide scale. But these governments are looking for UN sponsored permission to curb free speech and keep citizens from reaching certain parts of the Internet.
The second is control over how the Internet is paid for. Right now, the Internet is an international entity, but there is no charge for crossing those borders. Imagine if the same rules that applied to making a call from another country applied to accessing a website with a server in another country. The implications could heavily restrict access to websites for many. The fees to access certain site could be astronomical.
These are just a few of the reasons that you may want to stop and take note of what is going on at the UN right now.
|No comments||This entry was posted by EIC Social Media Team on December 15, 2012 at 6:26 pm, and is filed under Technology in Society. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
QR codes are pretty much everywhere we look nowadays. Whether it is on products, in stores or even at the gas pump there is always something to scan. If you have a smart phone you can walk up to one of these codes and use it to download information, coupons and advertisements. It’s a super convenient way to store and transmit data by request, but there is something else on the horizon. It is called the Rectenna. It is an inexpensive device that uses radio waves as a power source and transmits data to a nearby NFC device (like a smart phone).
This is not a new invention by any means. Rectenna have been around since at least the 60′s. The name comes from the fact that the little device contains both an antenna and a rectifier which converts alternating current into direct current.
A study was done to see how much Rectenna would cost to produce. The results were astonishing. They could be produced in volume for less than a penny a piece. That makes them even less expensive than radio-frequency identification tags which do something similar, and as we all know corporations look for ways to cut expenses especially in the economy we live in today.
Of course, if your phone doesn’t have NFC technology then you wouldn’t be able to communicate with the Rectenna. Your phone has to emit radio waves if the Rectenna is going to convert it to direct current and transmit the data. That means if this technology takes off you can expect more and more smart phones to start being designed for NFC.
It really is all about cost. Since Rectennas’ are inexpensive to produce they stand to get a strong foothold in the market. There are already products on the market that are taking advantage of this technology. For example, it can be used in object finders. The labels have built-in chips and antennas that sit flat on whatever you want to be sure not to lose them. An NFC phone can send radio signals that bounce back from the object by helping you to be able to locate it.
Expect to see more Rectennas’ and NFC products in the future as word of the savings gets spread around. In the mean time you will just have to keep scanning codes with your phone to get the information you want.
|No comments||This entry was posted by EIC Social Media Team on September 19, 2012 at 2:43 pm, and is filed under Technology in Society. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|
If you have ever cared for a puppy, kitten, or other cute infant animal then you know the effect it has on a person. The little fuzzy thing absorbs your existence. You stare into it’s eyes, feed it, coddle it, watch it explore and play. It quickly worms its way into your heart. We spend tons of cash on making sure our little pets grow up healthy and have all their shots. You desire to keep it safe.
So why do helpless critters have this sort of control over us and how we’re willing to spend out time and money? Why don’t ugly animals have the same effect on us? Most Americans won’t even bat an eye at running over a possum—because they just aren’t cute. Think about babies though. If babies weren’t so adorable would selfish humans be willing to turn our lives upside down for years to raise a child? Would we get out of bed when they cried in the middle of the night? Would we change their diapers and not get upset when they puke on us? Cuteness is a survival tactic.
As far back as 1949, a zoologist purported the idea that babies have just the right features to inspire us to care for them. Things like a tiny nose, eyes that take up a large portion of the face, and bobble head doll proportioned craniums drive us wild. We just can’t help ourselves. Whether you believe it’s clever design, or a convenient accident, cute babies help the species survive.
This makes sense with human babies, but why do we feel the need to take care of animal babies as well? Many animal babies have the same physical formula. Their heads are too big for their bodies. They have cute little noses. Their eyes appear huge.
WWF and other animal protection organizations capitalize on this. Their symbol for years has been a panda with its great big eyes, tiny nose, and enormous head. People throw all kinds of money at organizations like this.
The Japanese have capitalized on this as well. Cute animated girls with eyes that take up most of their faces just adore viewers. Exaggerated head size and miniscule noses cap off the cuteness trifecta and make these cartoons irresistible to boys and girls alike. Hello Kitty products bring in a fortune in sales.
Of course, the cuteness doesn’t last forever. The cutest baby can become the ugliest adult, and adorable baby pets can become an aggravating headache once all the proportions balance out. But cuteness gets us to give up our time and other resources until the little cuties are old enough to fend for their not so cute adult selves.
|No comments||This entry was posted by EIC Social Media Team on August 31, 2012 at 2:48 pm, and is filed under Branding. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.|