Topics:

• Marketing: The New Digital Technologies (Part 2)
• Podcasts and Viral Videos in a new world – by Neville Pokroy
• Finance: Investing in Quality Control
• It’s an easy pay back – by James Phillipson
• Strategy : How to Dominate Your Competitors
• The key is flawless execution – by Maurice Dutrisac

The New Digital Technologies (Part 2) - Podcasts, Viral Videos in a new world

Last month I introduced some of the latest digital technologies and covered the first two (Search Engine Optimization and Email Marketing) in a little more detail. Today we move into even more sophisticated area with Podcasts and Viral Videos.

Podcasts are derived from blending the words iPod and broadcast, and are really just a simple download of an audio or video file onto a computer or portable digital player. People can then view or listen to the download at their convenience. These “on-demand” broadcasts are quickly becoming effective and efficient communication tools and are expected to become more interactive as time goes by.

These audio or video files are becoming more and more used, especially on the Internet, and if used effectively can be turned into Viral Videos (or audios) by being passed on from person to person. New marketing campaigns are actually being developed to take advantage of the potential viral nature of communications these days, and in some instances products have been launched using viral marketing as a primary tactic of communication (see some examples of this).

Marketing Tip…from Neville Pokroy

While these two tools appear too sophisticated for the average marketing campaign, they aren’t. With clever thought and planning anything is possible- and it does not have to cost you “an arm and a leg”. They are in fact very useful tools and can set you apart from your competitors.

The great thing about all our new technologies is that, with a little help, the most sophisticated of tools can quickly become available to just about anyone. The challenge is to identify where it fits into your marketing mix, and with a plethora of tactics being available that decision is often the hardest.

In the "old days" one looked at anywhere from 10-15 marketing tactics to choose from. In the last 10 years my list of potential marketing tactics has ballooned to well over 130 – giving me quite a choice when I do my planning for my clients. I have the headache and the client gets the benefit. Not that I am complaining –it’s actually a tremendous amount of fun and exciting at the same time. And, most important, using these kinds of digital technologies starts to allow marketers to increase the measurement of their activities which gives the client a greater sense of understanding of the return on his marketing investment.

So, becoming smarter with marketing decisions is the direction the world is moving in. Ask yourself,
Am I really a smart marketer?

SMART marketing is the starting point because it is built on the premise of affordability and measurability. It assumes that each organization has different needs and what is appropriate for one company in a specific market is not always appropriate for another company in the same market. Each company has different needs and constraints and they should be considered when building a plan.

So what is SMART marketing and how can it help me?

SMART Marketing
S – Specific: all marketing must be definitive and appropriate, and must have pre-defined outcomes for success. By having the end result in mind you will be able to create something that can also be measured. While at times it may be a stretch, it should always be perceived that it is realistic and reachable. Appropriate may mean different things to different people, so make sure that you understand your audience in this regard.
M – Measurable: measuring success or failure is key to understanding whether the investment has been worthwhile. If at all possible, marketing efforts should be built with tools that have measurement in mind.
A – Affordable: it is no good developing marketing that a company cannot afford. Creating the appropriate mix that delivers affordability and results is the key to success. Know your budget and what needs to be delivered. And stick to finding the right solution given these budgetary constraints.
R - RaMotional (Rational and Emotional combination): a combination of rational and emotional will create the most meaningful and impactful communications. While most decisions are emotional, they are supported by rational justifications. Addressing both will maximize your effectiveness.
T – Targeted: know exactly who your target audience is. Make sure that your message is developed to resonate with the defined audience. General messages will not accomplish anything but mediocre results.

SMART marketing will allow you to clearly identify what tactics do not fit with your strategy, and what tactics do. If you review the options open to you and weigh various options against each other using the SMART criteria, many decisions become natural. The challenge often is: what are the various tactics do I need to weigh against each other? This list is sometimes quite extensive and very often business people do not take the time to evaluate various options against each other. That’s where marketing help can be of assistance.

Don’t take the shortcut automatically. It is often the easy way out but not necessarily the SMART way. It could cost you much more than you need to spend. Get some help if you need to. It’s the SMART way to go.

Next month: the newsletter will cover the latest tools that will help you generate and manage more leads for your organization.

Click here to find out where to begin with SMART marketing

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