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Hot New Marketing Trends

Hot New Marketing Trends. By: Gwen Moran Summarized by: Whitney French and Ryan Ashbaugh. Market on the Move. By 2008, 89% of brands will use text and multimedia messaging 1/3 plan to spend at least 10% of their marketing budgets on advertising Phones replacing credit cards? . Go Online.

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Hot New Marketing Trends

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  1. Hot New Marketing Trends By: Gwen Moran Summarized by: Whitney French and Ryan Ashbaugh

  2. Market on the Move • By 2008, 89% of brands will use text and multimedia messaging • 1/3 plan to spend at least 10% of their marketing budgets on advertising • Phones replacing credit cards?

  3. Go Online • Online spending is up as much as 33% • Google’s local advertising program links local business to map services • Greater ability to target niche audiences with podcasts and blogs

  4. Court the Boom • Every 7 seconds, someone turns 50 • Aging baby boomer segment will grow by 25% in the next decade • Boomers are “excellent targets” • Disposable income • Tend to refer business • Target boomers by what they’re doing, not how old they are

  5. RSS • Really Simple Syndication • Subscription to web feeds for frequently updated material • Blogs • News • Audio • Video

  6. Use Social Networks • Creating a profile gives your business a personality • Easy to segment your target market with a search • Fresh content and special offers to maintain interest

  7. Advertise in Unusual Places • Non traditional marketing expenditure rose 12% (2005 to 2006) • One survey indicated a 42% increase in 2011 for half the firms surveyed • Make your advertising dollars more effective • Advertise on electrical outlets in airports

  8. Premium-ize Your Brand • Coach and Grey Goose just sell bags to hold things and vodka to put in your cranberry juice • Small brands can reinvent themselves more easily than big brands

  9. Blog On • 43.1 million people in 2006 (estimated at 164 million today) • More video blogs in the future

  10. Multicultural Market • By 2010, Black and Hispanic buying power will exceed the GDP of Canada • 2010 • Hispanic: $1 Trillion • Black: $957 Billion • Asian: $544 Billion • Native Americans: $67 Billion • Canadian GDP: $1.335 Trillion USD • Don’t overlook the minority majority! • Be conscious of cultural images

  11. Experiential Market • Staff and location must reflect your image • Create an environment that’s consistent with your brand

  12. Customer Evangelism • Use customer testimonials to add credibility to marketing efforts • Webinars • Invite customers to trade shows and events to show off their enthusiasm

  13. Questions? • How many of you would use a credit card through your cell phone? • How many of you read through ratings of a product before you purchase a product? • Do you guys think blogging is effective?

  14. Sources • http://techcrunch.com/2011/02/04/online-retail-spending-reaches-a-record-43-4b-in-q4-2010-up-11-percent/ • http://www.stoppress.co.nz/news/2011/02/survey-predicts-rise-in-marketing-spend-with-bigger-slice-of-the-pie-for-pr-and-experiential/ • http://www.terry.uga.edu/news/releases/2010/minority-buying-power-report.html • http://www.theodora.com/wfbcurrent/canada/canada_economy.html

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