How Coca-Cola could have foreseen the 'New Coke' crash
It's 1985. For the past 15 years, the Coca-Cola Company has seen market share decline for its flagship product.
After conducting blind taste tests with more than 200,000 consumers, the soft drink brand discovers that consumers prefer a new formula to Pepsi and even to the old Coke. That summer, Coca-Cola rolls out 'New Coke' with an all-star ad campaign.
The product bombs. Badly. Consumers clamor for the classic formula, which Coca-Cola quickly brings back.
How could Coca-Cola, which decidedly did its homework in terms of tasting, fail so spectacularly? The issue is that Coke consumers slurp the soda down for more than taste. Coca-Cola forgot that every time someone pops the top, they're drinking from a well of emotion.
Asking the Right Questions
Since 1985, the power and prevalence of market research has only grown. In 2017, U.S. companies are slated to spend about $16 billion on market…
Voice technology will be huge in 2019, with smart speakers driving this revolution. Let’s look at some of the key ways voice can boost marketing activity and engage audiences
A bit of background
Voice technology uses Natural Language Processing (NLP) and AI to provide a more intuitive way of interacting with devices including smart speakers. Although the underlying technology has been in development for decades, it is only with recent advances in computing that it has been practical and reliable.
Now let’s take a brief look at the main smart speaker platforms.
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Amazon Alexa
Currently the most popular smart speakers with global sales of 100 million devices. Alexa technology is available in a wide range of devices from the entry level Echo Dot through…
Instagram's efforts to tackle fake accounts 'not working', marketing budget growth stalls due to Brexit uncertainty, Slack launches new logo and ASA cracking down on influencer sponsored posts
Find out all about some of the big marketing, social media and advertising news from the last week in our latest update.
Instagram’s crackdown on ‘fake’ accounts not effective
The end of 2018 saw Instagram start it clamp down on “inauthentic” followers after pressure was put on by advertisers. However, data from Points North Group has suggested that Instagram’s efforts have had little effect.
Instagram said that it would be using AI to remove fake followers attained through third-party apps. These types of apps are used by some influencers to make their profile look like a good option for advertisers due to high follower counts and engagement.
Despite efforts being made to get rid of fake accounts, Points…
The big mistakes that content marketers need to avoid when planning their campaigns
While many are aware of the benefits and importance of content marketing in the interaction-driven online universe, some of us still forget the countless dangers that can cause your campaign to fail before it starts generating meaningful results.
Content marketing works on a premise of building a relationship through value and intellectual or emotional connection. However, relationships need time and commitment which can render content marketing campaigns complex and messy. Tasks start piling up; team members lose sight of the goal and the initial infatuation with the project evaporates.
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To avoid going down the wrong path when planning your content marketing campaign, it’s essential you keep an eye on these risky areas:
1.…
To know how to adapt, you must first identify the so-called ‘disruptors’ that are set to change the world of digital marketing as you know it
Perhaps you’re familiar with the often-misquoted Darwin aphorism, "It is not the strongest species that survives but those that are adaptable to change." While this concept largely impacts the field of biology, it may also be applied to technology and the different fields that use modern tech in making improvements.
One industry that is set to go through massive changes is digital marketing. Those who dabble in this field should be aware of the changes influenced by modern technology to stay relevant. But to know how to adapt, you must first identify the so-called ‘disruptors’ that are set to change the world of digital marketing as you know it.
Big data
Cloud technology has blown the doors of businesses wide open when it comes to gathering massive amounts…
How quickly and precisely you respond after an online security incident determines whether you retain customers
Many small business owners think it won't happen to them. They're too small, and hackers only seek out big targets like banks, insurance companies or big-box stores. Unfortunately, when it comes to a cyber attack, the size of the business doesn't matter. It's likely not if you'll suffer an attack, it's when.
With anti-virus software and firewalls in place, a small business can feel a certain sense of security. But attacks and data breaches can still happen. Many reports suggest the likelihood is on the rise.
So, if you own a small business and your website or data is hacked, what can you do to restore and regain your customers' trust? This may come as a surprise, but the way in which your business responds (hopefully with resilience) to an attack may mean more…
You can beat your competition quite easily if you know the tactics of niche product optimization with respect to the e-commerce space
Niche marketing is not a new concept. Marketers, as well as product manufacturers, have leveraged the power of niche audiences to gain better control over their sales.
It’s no surprise then that there is cutthroat competition in the e-commerce space and marketers are finding it hard to attract new customers. This is happening because people have become more informed than before. Consumers can now compare and research the product before they buy it easy than ever.
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As an e-commerce store owner or a marketer, you are constantly looking for new ways…
Why local customer service ecosystem matter?
The concept of customer experience is built around delivering value. One of the integral elements of the value proposition of any business is customer service.
A well-oiled customer service machine is the multi-faceted beast. It is capable of working all-round insight miracles for multiple aspects of the business operation. The customer service ecosystem is a swiss army knife for information gathering.
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Here’s why:
It is designed to keep feedback with the user audience, maintain their basic needs and demands.
It is also a valuable source of information regarding user habits and the tendencies of product/service use.
The interaction with the customer points identifies where there is…
Podcasting might not work for every type of business, but for those that it does work, it can yield great results
Podcasting has grown from a little-known and misunderstood form of content to an incredibly powerful content type that builds trust and loyalty. Podcasters and comedians like Marc Maron and Joe Rogan have helped grow the popularity of podcasts and now, there are podcasts anything and everything.
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From a business point of view, podcasting can be an incredible marketing tool. It might not work for every type of business, but for those that it does work, it can yield great results: a…
Nine of the best team chat tools for making your team extra productive this year
With eight million active users and three million paid users, Slack is the darling of the business communication world. Indeed, the tool is hip and smart. It’s often praised for having multiple integrations, friendly UX and other features.
At the same time, Slack doesn’t work best for many teams. Some consider it expensive or cumbersome. Others find themselves buried under tons of notifications and constantly distracted while using it. In a word, the demand for an alternative communication tool is high and there’s plenty of Slack alternatives. But which one should you choose?
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Developing our own …
