Budgeting for Success

Posted by Nadia Nascimento

Grocery stores always act as a seasonal alarm clock luring us to summertime rooftop patios, and winter hibernation indulgences. My most adored time of year is when the eggnog hits the shelves, reminding us that the season of attempting to make parkas look cute even though it’s physically impossible when you are 5’1 is upon us.

There are consequences to all options that come with the holiday season. For instance- don’t wear a parka if you are under 5’6 and want to be taken seriously. If you miss the next Christmas family function you may be written out of a will and loose out on a mint ‘57 Chevy. And lastly, failing to include online marketing in your next campaign in the upcoming Q1 will leave you behind the pack. Well, help is on the way. Says Leigh Householder of Advergirl, here is the one piece of advice every client needs to hear in 2008:

If you don’t back up every broadcast and print campaign with a personal, relevant online experience, you’re wasting your money. If you haven’t already, its time to apply some social media, viral trends, and new applications to your campaign.

Here’s why: Consumer shopping behavior has fundamentally shifted. Trial no longer starts in-store. It has moved online.That makes the barrier at once lower and longer. Here’s how it works:

While most consumers don’t choose to buy online, the vast majority go online to ‘pre-shop’ for products and information. Before we undertake any in-person shopping, we want to “try on” brands online to see if they fit with our complex choice models of price, perception, and utility. That means pre-shopping product catalogs, readings reviews, comparing prices, etc. From there, we head into stores with a more educated perspective and spend more than our offline-only counterparts. This relationship is can also be quantified with some recent numbers:

• 89 percent of consumers shop for information about products online
• Less than 7 percent of retail sales actually take place online
• Online pre-shoppers spend an average of 41 percent more in-store compared with consumers not exposed to online advertising (BIG research, Comscore)

Integral to this online presence is the company you keep. You are wanting to be a brand that they want to spend time with- so finding a way to talk with your consumers is essential. Keeping that conversation going is an investment that will sustain your presence, increase your reach, and the depth of the relationship.

So while you are cozying up this season with your fondue and ice wine, trying to plan your next move for 2008, don’t forget about the basics in relationships. Listen- provide- and keep them coming back. Throw in an online platform for a video contest and I predict a great year ahead.

This entry was posted on Thursday, November 22nd, 2007 at 1:09 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.