The Marketing Innovation Blog

Establishing an effective presence on social media can sometimes be challenging for companies. At GY&K, we have found that banks are especially hesitant to jump head first in the space given its uncertainty and their unfamiliarity with the platforms and their benefits.

However, trailblazers in the space like Union First Market Bank, a community bank based out of Virginia, has found that establishing a social media presence has only helped grow and strengthen their relationships within their community. For instance, their social media content focuses on pushing products/offers and sharing industry news, as well as giving shout outs to local sports teams (from Little League to Professional teams).

Bank of Ann Arbor in Michigan was also an early adopter of social media, and is a great model for other community banks to follow. Most recently, Bank of Ann Arbor launched their “$75,000 Sweet 15 Local Charity Drive” in an effort to increase their Facebook fan base while raising money for organizations within their community. The campaign encouraged people to “like” their Facebook page in order to vote for their charity to receive a donation from the bank. Over 100,000 votes were received during this campaign and more than 15,000 people “liked” their page.

Below are some key strategic guidelines that banks and companies from all industries can consider when exploring social media, especially Facebook:

1. Create and establish an internal culture that is on board with social media. Encourage employees to “Like” the page and even ask for contributions from members from different areas of the company.
2. Create a fun, engaging promotion for your users and fans (one that appeals to both existing fans, but one that also targets friends-of-fans to help increase your fan base)
3. Utilize the Facebook ad features to hyper-target customers based on the information they have shared on Facebook (For example, you can geo-target potential customers in the surrounding areas based on the zip code information they have supplied to Facebook).
4. Bring your brand to life by applying personality traits that best describe your brand and highlighting the team that makes up your brand. Share photos of your employees at events where they’re giving back to the community and inform your Facebook fans of your philanthropic efforts/contributions. (Check out a GY&K client, Claremont Savings Bank’s page where they work to raise money for the Vermont Irene Disaster Relief Fund as well as other important local organizations within their community).
5. Engage/reach out to customers without being overly aggressive and promotional. Mascoma Savings Bank features a custom Facebook tab to house all of its Mortgage information. So, instead of flooding the wall with promotional posts/information about Mortgages, users can just look under that tab if they’re interested in more information.
6. Learn about your fans and what they’re interested in through Facebook’s ‘Questions’ tool and by testing different content topics to gauge how receptive your audience is to them. Based on the feedback and level of engagement, you can tweak your content strategy accordingly.
7. Respond to questions/concerns/comments quickly to let consumers know you are actively listening to them. Don’t remove negative posts unless they are inappropriate, derogatory or profane comments. This allows for all voices and opinions to be heard equally.

Overall, it is important to develop content that is true to your brand, relevant, engaging and beneficial to your fans. You are trying to create a two-way conversation that helps you understand your audience, too.

What types of posts and updates do your customers like receiving from your bank’s Facebook page?

Jenaleigh Landers is an Account Coordinator at Griffin York & Krause.

Main Source: BAI.org

Back in July Netflix customers were notified of upcoming changes to the structure of the company and its pricing model. These changes, which resulted in a 60% price increase for many customers, have since cost Netflix one million of its 25 million customers and caused a wave of negative backlash that is clearly noticeable on the company blog and social media channels.  On the heels of that initial announcement, the GY&K Podcast team discussed this very topic from all angles. Click here to listen to the team’s initial thoughts on the Netflix announcement.

There are a couple of trends that have contributed to the Netflix predicament, which may also affect many other companies soon.  The first trend is the shift from analog to digital (or trying to accommodate both, like Netflix is doing with its mail orders and online downloads). Eventually most services will move completely to digital; however, the shift is challenging because many times loyal customers are not ready for the change.

The second trend is the growing impact that customer feedback is having on companies due to the internet and social media. Social media can be a blessing or a curse for companies, either enhancing or tarnishing their reputations. Unfortunately for Netflix, dissatisfied customers turned to social media to express their outrage, which spread like fire across the internet.  The negative backlash prompted a “social” apology this past week from Reed Hastings, Netflix’s Chief Executive, and another change to the service/pricing structure, all of which were published on the company blog and the Facebook and Twitter pages.

Here are a few basic things companies can do to confront some of the challenges Neflix is facing:

- Consider customer surveys and polls before making any major changes to an existing pricing structure that impacts the majority of your clients.
- Adjust your approach based on customer research and be sure to communicate the changes clearly.
- Prepare and post a new tutorial or FAQ to coincide with the announcement. Consider an ‘explainer’ video that makes it fun and easy to understand the changes.
- Once the change has been announced, pay attention to a variety of social channels and respond quickly to questions or concerns (both positive and negative).

Are you considering a big change that may impact a large number of your customers? Do you have any additional tips that will help with a smooth transition?

Main Source: NYTimes.com

Jenaleigh Landers is an Account Coordinator at Griffin York & Krause.

Technology and consumers’ fast-paced lifestyles go hand-in-hand and as technology has advanced, people have been able to live and stay connected while on-the-go. As a result, stores and products have had to evolve and adapt to the newest technology to meet consumers’ “quick” demands, all centered around convenience.

As such, mobile technology has grown significantly and has changed the way consumers interact with brands and has impacted the traditional shopping experience.  In previous posts, I have touched upon the mobile evolution by talking about Square, a mobile payment device, smartphones embedded with radio microchips that function as a payment tool and self-checkout mobile apps.  This evolution has only continued with the introduction of QR codes.  Now that consumers are aware of QR codes, they are scanning them with their smartphones, and for the first time ever, are scanning them to purchase products at virtual stores.

The world’s first virtual store opened a few weeks ago in Korea at the Seolleung subway station (a hub for 200,000 daily commuters). After downloading the Homeplus app, consumers can purchase products while they wait for the subway (or the “T” as we call it) and have their products delivered to wherever they specify – home, the office, etc. How’s that for convenience? Why make the extra trip to the store, spend an hour filling up your cart and then wait in the checkout line when you could just purchase everything while on-the-go and have it delivered for a small fee?

Even if you’re not near a virtual store in Korea, you can still use a product’s QR code to order more of that product. For instance, if you just finished all of your laundry detergent, you could scan the bottle’s QR code and have more delivered right to your house.  Through the Homeplus app, consumers are able to purchase 35,000 products including milk, eggs, pasta sauce, tissues, water and digital cameras.

Ocado, a UK online-only supermarket, recently assembled a temporary pop-up store featuring its most popular products. Using the ‘Ocado On The Go’ app, consumers could purchase products by scanning the code with their smartphones and then booking a time for the items to be delivered.  Currently, according to a recent Bizreport.com article, “about 15% of Ocado transactions take place on a mobile, but the online retailer is banking on the pop-up stores driving more consumers to use their phones while out shopping.”  Watch this video to learn more about these virtual storefronts.

With over 82 million smartphone users in the US, it’s only a matter of time before these virtual stores make their way to the US in the places consumers use their cell phones the most.

If a virtual store popped up near you, would you try it out? If so, what types of products would you and wouldn’t you purchase?

Jenaleigh Landers is an Account Coordinator at Griffin York & Krause.

Main Source: koreajoongangdaily.joinsmsn.com

The marketing industry is changing on so many levels. Therefore, we’re always testing new ideas at the GY&K school house and measuring to see what works. There are tried and true principles that we rely on (30+ years in business means we’ve hopefully learned a lot!), but now more than ever we have to keep an open mind and pursue innovation. 

One way we do that is by meeting with clients to hear about their experiences. After all, clients will always be the experts on their individual businesses.

Of course we also read trade publications and blogs, attend industry events, network (online and in real life) and dabble with our own independent studies.

One additional way I like to stay fresh is by visiting Walmart. Yes, you read that right. Approximately 100 million customers visit Walmart’s U.S. stores each week. For brands and marketers this is a key battleground.

Here are a few insights and anecdotes from my recent field trip to Walmart.

Rock Kiosk – Remember standing in line for concert tickets because the only other choice was fighting with a busy signal over the phone? Most of the ticket ‘outlets’ are gone, but not at Walmart. I have a feeling the friendly interface encourages a number of impulse purchases and drives significant revenue for Ticketmaster. If you haven’t read about their new CEO and his strategy to make them less-hated, it’s worth checking out.

Wine in Electronics – Shocker! Barefoot Wine & Bubbly is known for their fun and clever marketing, and this placement on the endcap between batteries and DVDs is brilliant. In our experience with liquor brands (and I mean paid marketing projects, not our extra curricular activities), we have found merchandising to be critical. In a crowded category, this is a great way for a wine brand to stand out.

Blue Box – If you take the wine but pass on the DVD purchase, you can still rent a movie on the way out. At Walmart, even the Redbox is blue to fit the retailer’s brand.

Pop Up – The checkout area is an impulse purchase haven.  The aisles and endcaps are overflowing with everything from candy to car chargers. There are also displays strategically placed to entice consumers waiting in long lines. A GY&K client, Original Gourmet, now has their lollipops front and center. It looked like Cotton Candy was the best seller in this store. It’s also a favorite around the office.

How do you keep in touch with the retail marketing experience? Are their certain places you visit on a regular basis?

Brady Sadler is the VP of Business Development & Markting at GY&K. Connect with him on Twitter @BradySadler

This past weekend I had a chance to visit the new Yankee Stadium for the first time. Growing up, I went to the old stadium every summer with my father and a group of friends, so experiencing the new park was bittersweet.

When I was a kid, I didn’t think much about the brands that were a part of the ballpark experience. However, these days when I walk into a ballpark, or any public place for that matter, I immediately analyze the surroundings and look to see what brands are represented. I call it the ‘curse of the marketer.’ If you’ve ever watched TV with someone who works in advertising you know what I’m talking about. 

Marketing sponsorships are a core component of the sports business, so I wasn’t surprised to see a myriad of brands on display. There were sponsored giveaways at the gate, outfield banners, PA announcements, video board promos, contests and more. Specific ticket packages are branded as well including the Delta SKY 360 Group Package, theTurkey Hill Ice Cream Group Picnic Package, the Malibu Rooftop Deck and the Jim Beam Suite Group Package.

We had passes for the Audi Yankkes Club and the Budweiser Hall of Fame Lounge in left field, so the branded ballpark experience was in full effect.

I was standing in line for food (ridiculous buffet) and started chatting with a young couple. They both had gold Audi nametags and I assumed they worked for the company. A few minutes into our conversation I asked about their role with Audi and found out they were actually freelance journalists who were being entertained as part of the new 2012 A5 launch.

The ability to host events in this setting provides significant value for Audi. However, by using the custom nametags they significantly increase the impact of the experience. It’s inevitable that everyone wearing the badge gets asked if they work for Audi. For a short time, they are ambassadors for the brand and the badge forces old school social networking.

When I worked in sports prior to GY&K, we didn’t have to contend with the world of new media as it exists today. I’m sure the Yankees provide rationale to justify sponsorships, but I would imagine it’s become a lot more difficult to sell static signage. This is why the experiential components of a sponsorship package are so important. Customizing nametags may seem like a minor detail, but in this case that small touch made Audi’s investment even more valuable.

Do you host events and entertain customers, prospects or media? If so, what are the little things that make these experiences more impactful?

Bonus: For more on the power of nametags, check out one of my favorite blogs by Scott Ginsberg aka ‘The Nametag Guy.’

Brady Sadler is the VP of Business Development & Marketing at GY&K. Follow him on Twitter @BradySadler

Look at how far we’ve come since the days of Myspace.  In an attempt to generate new life, it has gone through many transformations and most recently, after Justin Timberlake’s contribution, plans to relaunch later this summer.  While Myspace has steadily declined in popularity, it has paved the way for other social networking sites to change the way we interact with each other and brands.  As each and every one of us have witnessed, social networking platforms are constantly evolving in an effort to become more engaging for consumers and more attractive to advertisers.

One of the newest social networking sites, Google+, has reached over 25 million users after only about a month of its launch. To put it in perspective, this milestone was not accomplished by Myspace, Facebook or Twitter until at least two years after their launch. Google+ hopes to continue their quick adoption by adding a gaming component to the platform, with many of the games being created by the same developers that have created “hit” games for Facebook.  Google+ is clearly evolving and adapting to the social space, and as mentioned in a previous post, will inevitably have an advertising component at some point.

On the other hand, Facebook, Twitter and LinkedIn are much more mature social networking sites that are getting to a point in their evolution where they are aggressively innovating to remain relevant and to drive advertising revenue. Both Facebook and Twitter are free for users, rich with data and have raised significant money from investors who expect them to return a profit (either by selling or going public like LinkedIn just did).  Facebook is constantly introducing new updates to its site including more opportunities for marketers: sponsored stories, premium and marketplace ads, custom apps, and highly targeted advertising options.   Aside from being able to target based on likes, interest, gender, etc., advertisers are now able to narrowly geo-target ads and sponsored stories by zip code, as we recently learned on our call with the Facebook sales team last week. Another specific ad unit discussed was the ‘Comment’ Sponsored Story, which according to Facebook, has been performing well since it launched in June.

Unlike its competitors, LinkedIn is the only one that offers a premium user account, which drives revenue directly from users. LinkedIn also recently went public, so now more than ever the company must show financial growth.  This past June it attempted to do so by rolling out “social ads” (similar to Facebook’s Sponsored Stories) featuring actual faces of LinkedIn users and their public actions.  While this move was shared with users in advance via the LinkedIn blog and banner ads throughout the site, many did not approve and considered it to be a violation of privacy.  As a result, these ads still exist, but do not feature users’ photos and information.

We’ll be paying close attention as these sites work to attract more marketing dollars without turning off users. Tough balancing act!

As a marketer, have you had success leveraging any of these new social networking features or advertising units?

Jenaleigh Landers is an Account Coordinator at Griffin York & Krause.

Now, more than ever, consumers are looking for “human” brands with personalities of their own. In fact, “71 percent of people make it a point to buy brands from companies whose values are similar to [their] own,” according to a Young & Rubicam survey.  One way that brands have been able to gain respect and connect with consumers is through random acts of kindness (RAK).  These relatively cost-effective and effortless RAK are a great way to give back to consumers who will then share these meaningful brand encounters with friends, family, and even strangers on the web.

Companies from all types of industries can participate in RAK.  However, in order to ensure success, all RAK should be completely random (not in return for something) and should occur infrequently so they don’t become expected.  Here are some examples of brands/companies in a variety of industries that have attempted RAK:

-Banking: TD Bank played off of its “America’s Most Convenient Bank” tagline during its Random Acts of Convenience campaign where random consumers were given complimentary TD Bank-branded cups of coffee, umbrellas on rainy days, pizza and laundry delivered to doors and more.

-Health/Beauty: Skin care brand, Biotherm, used Twitter to offer “tired tweeters” free samples of its Skin.Ergetic anti-aging product.

-Airline: Spanair surprised passengers waiting at baggage claim after taking one of its late night Christmas Eve flights. Instead of their bags, out came personalized presents for all.

-Consumer Packaged Goods (CPG): Social media was also used during the “The Crunch is Calling” campaign where Wheat Thins Twitter fanatics were tracked down and surprised with an entire pallet of Wheat Thins, all of which was captured on video and published on YouTube.

-Healthcare: I was unable to find a particular example of a hospital participating in a RAK campaign; however, the healthcare industry is one where a RAK would be that much more heartfelt.  Examples include passing out sunscreen and water to local high school sports teams or having a young patient’s favorite childhood icon/cartoon character visit him/her at the hospital for a birthday surprise.  More healthcare-related RAK can be found here.

What other brands have you noticed or heard of that are participating in RAK?

Jenaleigh Landers is an Account Coordinator at Griffin York & Krause.

Main Source: Trendwatching.com

There’s a fascinating battle taking place between retailers, device manufacturers, technology companies, content owners and various others. They are all jockeying for position as more and more consumers access the Web through their televisions.  Look no further than the recent Netflix announcement as an indication that the TV viewing experience may be changing faster than anyone predicted.

Last year we hosted an episode of our company podcast, The Theater of Public Influence, all about connecting your TV to the Web. Download the podcast and listen as our team debates the features and benefits of Roku, Apple TV, Google TV and a good ol’ computer hooked up to your TV.

Recently, one of my favorite online-based shows, This Week in Startups, hosted a similar discussion and reviewed a number of ‘connected devices’ and Web-enabled TV’s. This is an entertaining tutorial for anyone interested in the current options, and what the landscape might look like in the near future.

What do you think the Web-enabled TV experience will look like in a year? Two years?

Will we eventually be searching on our television the same way we do on the Web? If so, what might this mean for brands that create their own video content? 

Brady Sadler is the VP of Business Development and Marketing at GY&K. Follow him on Twitter @BradySadler