Bolchalk FReY's Blog


Is your social media marketing working? Here’s how to tell.
March 22, 2017, 2:58 pm
Filed under: Branding, Google analytics, Marketing, Social Media | Tags: ,

To measure your social media marketing you do it in a similar way in which you analyze all your marketing strategies.

Measuring your firms reach is one of the most important first steps in this process. Reach is how many people are exposed to your account/advertisement. How many followers your Twitter and Instagram have and how many likes on a Facebook page your firm has are great measurements of how much exposure you social media marketing is receiving.

Next, you must look at the level of interaction from people who were reached. Social media marketing can be highly interactive, which in turn can increase your reach. You can measure this by the amount of clicks, shares, likes, reposts etc. These are easily measured and can be done by someone fairly inexperienced.

Most importantly you must look at your conversion rate. Your conversion rate is dependent on your original marketing goal…why are you advertising? Your call to action can be increasing visits to a store front or website, increase sales, or even increase brand awareness. It is all dependent on the firm and what they need to better their business. Google Analytics is a free tool to help you analyze your conversion rate, but there are many others out there too.

Just like any other type of marketing it is important to realize that this is a great way to advertise, but it’s also extremely easy to lose a lot of money and time. As long as you keep up on your reach, interaction, and conversion you should have no issues creating a cost effective social media campaign.

 



Why do Consumers Purchase?
February 8, 2017, 2:46 pm
Filed under: Marketing, Social Media

Consumers purchase different products and services to meet their goals. Their goals can range depending on the day or the hour. For instance one person’s goal can be to nail a job interview or it can be to look “cool” in front of some new friends. These two situations can change what a person is willing to purchase despite their attitude towards a product.

Someone interviewing for a job may purchase a business suit at the store. Even if they may hate wearing business clothes they will be more likely to purchase them to meet their goal of receiving a job offer. On the other hand someone who wants to look “cool” in front of their friends that night might purchase a trendy new outfit. These competing goals can lead to different purchase decisions regardless of their personal preference.

There are also many influences over consumers that affect how they will meet their goals. Some of the influencers over consumers include cultural influences and family and friend influences. Cultural influences depend on how someone was raised and where. For instance, in China the color white represents mourning; this cultural norm can cause someone to buy an all-white outfit when a family or friend passes. In the USA this view is the opposite, the social norm is to wear all black to a funeral.

Family and friends can also change the purchasing behavior of a consumer. Consumer’s two main reference groups include family and friends. Depending on which group someone is trying to fit into will affect the purchase decision. For instance, if you are planning on being around your family you may feel more comfortable buying a pair of sweats to wear, but if you are going to be with friends you know you will be looked down upon for wearing them and will not purchase them.

Your goals and other social influences can affect your purchasing behavior. It is important as a marketer to realize this and understand that consumers are not necessarily predictable. This is because their attitudes do not always align with goals and others in their reference groups leading to an out of ordinary purchase.



Why Should You Outsource Your Marketing & PR?
January 4, 2017, 10:28 am
Filed under: Marketing, Public Relations

Outsourcing is a way to increase business efficiency. When looking into outsourcing your marketing and public relations you should look into an agency that specializes in it. Here are some of the top reasons you should outsource this task:

  1. Creativity: Marketing agencies are more likely to have better and more creative ideas than someone in-house. This is because there are one or more people with the job to be creative!
  2. It’s who you know: When it comes to Public Relations it comes down to who do you know in the media and how enticing is it. Agencies are more likely to know more people to contact with press releases.
  3. 2 is greater than 1: It’s unlikely that your one employee or small group of employees can do all that an agency does. This is because and agency is solely focused on what you need them to be giving your in-house marketing a chance to work on different aspects.
  4. Flexible: This connects with number 3. If you have your team working on too much they will never be able to keep up with the ever changing market. This is where the agency comes in. You can still have someone working in house, while simultaneously having an agency work on a different project.
  5. Time: Lastly, we all know time is money. Often in small businesses there are few employees with little time to focus on marketing. Marketing is essential to communicating your product or service and can be time consuming to put your ideas into action.

Overall, outsourcing marketing can be a great idea for a company. It can mean having more time to work on other business functions and can allow for creation of more successful marketing campaigns. Just remember not everyone can be everything!



The Product Lifecycle and Marketing
December 7, 2016, 11:47 am
Filed under: Branding, Marketing | Tags:

 

The product lifecycle is one of those things you hear about and only think of using when it comes to how long your company will live. Well using this idea with marketing can help you increase the effectiveness of your marketing budget.

The first stage of the product lifecycle is introduction. This is just like a baby’s first breathes in the world. No one knows about your product or why they need it. The goal of your marketing at this stage should be to give information on the product and explain the usefulness of it. You want people to understand the product especially if it is a new product category. Your main purchasers at this stage will be trendsetters. Trendsetters tend to be the first to try out a product or service and then other consumers follow suit.

Your next stage is the growth stage. This is a time where you want to increase awareness. You can do this by marketing to a broader audience while still targeting your market. The consumers who are usually next to purchase are mavens and you can utilize them to help market your product.  Now with the internet and icons on social media you are able to use these personalities to help bring awareness and attention to your product.

The third stage of the lifecycle is the maturity stage. This is the time where people know about your product and may already be using it. This is where you want to have your marketing targeted at reminding consumers. Having a lot of advertisements in different media will help you do this. Another way to remind customers of your product is by launching a new product line. This can not only make your current customer rebuy, but it can help start your product lifecycle over with a new product.

The last stage is the decline stage. Sadly, this means your company may not last much longer or it may become a novelty product. During this time you should decrease your marketing budget. There is no need to keep marketing a product that has become irrelevant to consumers.

Overall, you are able to use the product lifecycle stages in order to help you direct your marketing messages. This can help you increase your longevity of your lifecycle while simultaneously increasing your revenues. When to pull out your marketing budget on a product line is a difficult decision and one that most businesses struggle with.



Are Your Radio Commercials Working? Here’s Seven Ways to Tell.
September 7, 2016, 10:17 am
Filed under: Branding, Marketing, Radio, Uncategorized | Tags: ,

 

  1. Be Creative. Radio is said to be “the theater of the mind.” It allows you- for a minimal cost- to create the most interesting man in the world, or an economy motel chain with a light on for you. A sharp agency can make your product (mnemonically) tap dance rings around your competition.
  2. Address Your Buyers. It’s drive time. Do you know where your audience is? You shouldn’t be spending money talking about semi-conductors to a group whose highest aspiration is obtaining front row tickets to a Taylor Swift concert.
  3. How You Say It Is Important. Skimping on production costs is like eating a chimichanga without sour cream and guacamole. It’s better than nothing, but doesn’t come close to reaching its potential. If your ads sound like they were recorded in the can, consumers will think your business is too. Insist your agency go the whole nine yards for quality production.
  4. You don’t think radio can affect your image? Imagine Hulk Hogan doing a spot for feminine deodorant product. See what we mean?
  5. Talk To One Person. Fascinate your listeners. If you just preach to them you’ll sound like your high school teacher. And get as much response.
  6. Start Strong. The first and most important step is to get their attention. We can do this without physically harming your customers.
  7. One Message. Reduce your commercial to one single message. This will keep it memorable…and from sounding like an auctioneer on a caffeine binge. Remember to sell one thing at a time otherwise you will confuse the audience and they are already easily confused!

 

If you’re not getting a clear signal that your radio advertising is working, give us a call. You’ll get a lot less static and make a lot more noise.



Is Your Newspaper Advertising Delivering? Here’s Seven Ways to Tell.
August 17, 2016, 2:18 pm
Filed under: Branding, Marketing, Newspapers, Uncategorized | Tags: , , , ,

 

  1. Dominate The Page. A good ad, like people how moved to Arizona, needs its space. In a medium where you, the news and your competitors are all struggling for the same reader, it’s important to “win the spread.”
  2. Corral The Reader. The right border around a small add can give it a big impact. It’s an inexpensive way to fence off your territory and let people know what’s yours.
  3. The Ol’ One-Two. A strong headline and graphic working together can be as appealing as peanut butter and jelly, bacon and eggs, or spaghetti and meatballs. If it’s really spectacular…ice cream and apple pie.
  4. The “Me” Generation. The old Mousketeers asked “Why? Because we like you,” are now asking, “What’s in it for me?” A benefit in the headline will keep them all ears.
  5. Keep It Simple. “See Jack run” and “to be or not to be” are both classics. They are easy to understand. And hard to forget. Whether you’re writing to someone who’s 5 or 50, simple sentences often work best.
  6. White Space. Philip Glass, a famous composer, said it was as much a part if his music as the melody. White space doesn’t have to be filled up with ink. Let it work to your advantage.
  7. Color Gives You Pop! In the black and white world of newspaper, color can really set you apart from the crowd. The pink hair you see people with at the mall will verify that.

 

If your newspaper ads aren’t creating any sales news, shouldn’t we talk?



Is Your Media Plan on Target? Here’s Nine Ways to Tell.
August 4, 2016, 4:14 pm
Filed under: Marketing, Uncategorized | Tags: , , ,
  1. If your ads get all the response of a memo handwritten in a snowbank, we can help. A good media plan should bring traffic, leads and sales.
  2. Media Research. Nostradamus can wing it. But a great media department can’t. You’re entitled to know how many people will get your message and how often. And from a better source than a 500 year old French guy.
  3. Competitor’s Activities. A sharp ad agency will scout out the opposition. If General Custer had kept up with his competitor’s smoke signals, he wouldn’t have ended up wearing an arrow shirt.
  4. Reach and Frequency. Muhammad Ali knew the value of “reach” and “frequency”. So does a good media department. If your advertising hasn’t scored any knockouts lately, maybe you should ring our bell.
  5. Response Analysis. If your agency thinks number crunching is an invite to lunch, call us. Our confidential sourcing methods let you compare as themes, sales promotions, even daily sales. And in the tastiest pie charts ad multicolor graphs your sales manager ever ate up.
  6. Educational Levels. You don’t need to be a Rhodes Scholar to buy a cola. So why include Brain Surgery Digest in your media plan? A good media buy isn’t an over-achiever.
  7. Socio-psychographics. Are you about to import the first car from China made entirely of fortune cookies? Psychographics tell you how to target those innovative folks who aren’t afraid of change. And how not to spend money reaching the terminally conservative.
  8. Right Age. If you’re selling Hilltop Haciendas, but frat boys show up screaming for free beer, then your media strategy’s on rocky ground.
  9. Socio-economics. The “socio” part means reaching the folks most likely to want your product or services. “Economics” is simple: can they pay for it? A smart media buy delivers both.

 

If your media plan is working now you know why. If it isn’t, shouldn’t we talk?