When it comes to marketing, the right approach is always subject to change. Technology is constantly evolving, and marketers need to adjust their strategies accordingly. The latest trend taking over the marketing industry is mobile wallet marketing.
Mobile wallet marketing improves businesses and customer experiences through the use of mobile wallets, or apps like Apple Wallet and Google Wallet that store bank information. Learn How to Apply for Apple Card via Apple Wallet.
Within the apps, digital cards such as Apple Pay or Google Pay allow the purchases to happen. In 2020 alone, around one-half of American millennials used digital or mobile wallets for online purchases. Among all demographics, one-third of consumers have three or more mobile wallets.
To help you appeal to millennial spending habits and level-up your marketing strategy, we compiled the most important information for an effective mobile wallet marketing campaign.
Benefits of Mobile Wallet Marketing
Before creating a mobile wallet marketing strategy, it’s important to know why you’re choosing this approach. This knowledge might be especially helpful if you need to persuade a client to pursue mobile wallet marketing in their business plan. Here are the benefits you should know:
- Consumer preference: More consumers are choosing mobile payment options over cash, as the total transaction value for digital payments will likely yield a compound annual growth rate of around 12% from 2021 to 2025.
- Streamlined loyalty programs: Mobile wallets make it easier for businesses to create successful customer loyalty programs, since users can easily track their points in an app.
- Location-specific offers: Since cell phones are able to track a user’s location, the notifications and offers they receive will be more relevant.
- Higher redemption rates: Mobile wallets make coupons easy to store, so customers could be more likely to use them.
- Better engagement: Although mobile wallets are available in a digital format, they may lead to an increase in customer engagement on the company website or in store.
Features of Mobile Wallet Marketing
To enjoy the advantages that come with mobile wallets, you’ll need to become familiar with the features the technology offers. Check out the primary elements of most mobile wallets:
- Push notifications: Mobile wallets send consumers alerts and notifications, encouraging them to stay updated on offers and promotions.
- Personalized content: The messages that appear on a customer’s mobile wallet can be personalized to include their name and show them offers that suit their interests.
- Synced offers: Retailers are able to sync content from their own app so that customers can access passes, coupons, and loyalty cards on their mobile wallets.
- Latest updates: Rather than checking an account on a retail website or asking in store, customers can receive updates about their loyalty points from their mobile wallets.
- Accessible Tickets: Mobile wallets are safe places to store boarding passes, theater tickets, and other valuable tickets.
Mobile wallet marketing offers a variety of benefits and features. By using this strategy, marketers can keep up with the latest trends and transform the way their businesses handle transactions.For even more information about mobile wallet marketing, take a look at the infographic below.
Can you be a Good Marketer Without a College Degree?
Many people feel like they need a degree from a university to be a good marketer. This is completely false. While a university degree can help provide a structured learning process to acquire the skills, it’s not a requirement. Learning how to be a successful marketer can come from experiences gained in the field. It can also be something that people are born with. In the US, there are several paths that you can take to learn what makes a good marketer, and we will provide some direction for your career path. There are a lot of roads to take that don’t include getting a college degree, and are effective in helping you become a solid career marketer.
What makes a good marketer?
A lot of ideas surrounding what makes a good marketer are subjective. There are several thoughts and ideas around this topic. There are a lot of varying opinions, but the bottom line is that there are certain qualities that a person can develop. Anybody can work hard to strengthen their marketing skills and learn how to be a better marketer. Some of these skills include:
1 – Analytical Capacity – it’s a strong skill to be able to look through information to find the important data points and report them in a concise manner
2 – Communication – as in all positions, communication with the client is key to make sure everyone is on the same page
3 – Writing – developing writing skills and knowing how to appeal to the audience helps you be more effective in marketing
4 – Visual Editing – videos and images convey messages, so knowing how to create and edit those will help you be a better marketer.
5 – Creativity – you can stand out when you are unique. This is a huge skill to develop.
6 – Teamwork – Working solo is great, but most of the great marketing plans come from group discussion. Being able to work with a team is a great skill to have.
7 – Curiosity – learning how to wonder if what is created can be improved in any way is helpful. Learning new technologies and being willing to be flexible are important.
These skills came from several CMOs that responded when they are looking for a good marketer, the top qualities they identify. In an article written by cyberclick, it outlined these skills. (https://www.cyberclick.net/numericalblogen/7-qualities-of-a-good-marketer-according-to-cmos)
Start with the Foundation of the Theory
Just like with anything, when you are starting something new you need to focus on the basics. Focusing on the foundation will help you establish the building blocks to grow and figure out what specific content you want to focus on. Learning the basics is similar to when you learn the alphabet, you begin with ABC before being able to move on to finish the rest. As soon as you master the basics and the foundation of the theory, you are then able to branch out and find what you are passionate about. Marketing can provide a wide variety of different career paths. Depending on what type of marketing you want, to the niche you resonate with, your required skillsets will be much different. For example, creating and executing a marketing plan for hotel chains can be very different from doing the same for lawyer marketing services. You need to take the time to figure out where your passion lies, and while doing so get to understand the basics that are consistent regardless of the niche that you choose.
Practice What You Learn, on Your Website
One of the best things you can learn on how to be a better marketer is to immediately implement those things which you are beginning to study. As you gain the knowledge, it’s important to keep those concepts up to date and fresh, you need to do more than just study. Creating and developing your own website will give you a platform to be able to practice. As you develop your website, you can be confident that when you have clients that need similar results, you can be well prepared to provide the services that they need. Once you are able to practice the skill sets you are learning a few times, you will find that it will become easier to do. You will then be able to have a stronger website that you can market, and you’ll be able to replicate that for your future clients!
Choose a Specialization
Something that can be done to learn how to be a successful marketer is to avoid becoming a jack of all trades. Figure out the things that you are drawn to and have a little more passion about and begin to focus on specializing in those things. As you become passionate about your positioning and the skillsets you chose. Instead of being able to do a lot of things pretty well, you can do a couple or a few things at an expert level. This can help you stand out from all of the other marketers due to your specific skillset. From social media to content marketing to email marketing and using mediums from text to graphics to video, there are plenty of options. Again, focusing on just a couple areas where you are specialized in not only helps you stand out, it also helps you understand who to approach, and how you can market yourself.
Find a Mentor
Everyone who is great has started from somewhere. Finding a mentor who has been in the positions you are currently in is key to help you learn and grow quicker. If you can develop a relationship with someone who is in a position where you want to go, you will increase the rate of speed to get there. A mentor is someone who has more experience and can help you in your career path. Sometimes it is difficult to find a person to develop that relationship with. If you find it difficult to find a mentor, or feel like hiring someone as an expert is too out of budget. You have other options. Forbes has an amazing article to guide anyone to find, listen to, and read leading experts’ books. (https://www.forbes.com/sites/henrydevries/2018/03/07/how-to-find-a-marketing-mentor/?sh=6bfbba2b361b). You can take advantage of their expertise and experience through books.
Try to get into a Marketing Agency or Freelance
One way for you to get great experience is to freelance or get a full-time job. If you want to get in-depth with a specific company in a niche or industry you are interested in. Learning while on the job can be helpful while you work on your own website and other marketing things on the side. If you would rather not get a full-time job, there are several opportunities and places where you can do freelance work. Presenting yourself and your abilities to small businesses can be another way for you to get the experience that you need. As you get a variety of clients, you will learn a broader range of niches and the different nuances for marketing.
There are so many constants that happen in marketing. There are even more trends that come and go. It’s important for you to stay relevant and keep your clients happy to learn these new trends. If you don’t have clients yet, it’s important to stay relevant so you can build up your client base. Some of the trends that may happen that you need to be aware of:
Technology – There is always a new trend and new updates
Influencers – Influencer marketing continues to grow, and needs to be considered
Strategy – Higher strategy continues to climb higher and needs to be aware of
Digital Jobs – Digital jobs continue to grow, and will continue to grow
Less is more – simplification is key to capture the target audience’s attention
There are other things to keep in mind, but these five areas are major trends that will assist you to continue forward with marketing.
A handful of key things are available to you that can establish you as a successful marketer. If you learn the foundation and begin to implement those things right away, that can be one of the best approaches to starting this new career. Get experiences whether a full-time job or by freelancing. As you are doing this, pick one or two areas to focus on and become an expert in. You don’t need to know a little bit about everything, figure out those few areas you are passionate about and focus on those. Get a mentor or an expert to listen to and get ideas on how to move forward as you are growing and progressing in your marketing career. As you begin to do this, and if you can stay constant in doing it, you can also begin to develop successful strategies to succeed in your marketing career!
Description: There is a wide range of marketing pathways. Becoming a successful marketer takes humility and a willingness to learn and grow. Focusing on a few key things can ensure your marketing career success.
The Different Kinds Of Videos And When To Use Them
Video marketing has soared and been on the incline over the past 6 years. Rewind to 2016, and a modest 61% of businesses used video to market their brand.
One year later, in 2017, we saw an increase to 63%.
Between 2017 and 2018, there was a real jump which proves how helpful video marketing is for business owners. A massive 81%, meaning an 18% increase, of business owners hopped on board the video marketing train.
And for good reason.
Online video views are rising by 100% every single year.
Business owners are eager to reap the benefits of video marketing to expand their brand’s reputation, provide value for their demographic, and, ultimately, increase their revenue.
But so many business owners fall into the trap of thinking there is only one type of video. This is playing blackjack with your marketing strategy and leaving it up to fate (or luck) as to whether the messaging sticks or not.
This post will help demist the confusion surrounding the different types of videos and when to use them.
Sales Generation Videos
When you hear ‘sales generation videos,’ it’s unsurprising if your mind goes straight to ‘commercials.’ Television and radio commercials still play a decisive role, but with the internet swiftly dominating both of these platforms, marketers are changing their approach to fit with our online era.
Ads On Streaming Services
Online ads on streaming services wear the same costume as the ads you initially thought of for television and radio. Commercial style adverts are valuable nationally and locally to promote your product or service and, ultimately, increase sales.
Use ads on streaming services when you’re launching a product or service.
Brand Awareness Videos
Brand awareness videos are crafted to solidify your online presence and expand brand awareness. This could include behind-the-scenes clips, company montages, or meet the team videos, which will introduce your brand and convey a sense of human empathy.
The purpose here is to build trust, a solid reputation, and become a household brand within the industry.
Use brand awareness videos to cultivate more leads, and keep them warm throughout time.
Sometimes, there’s nothing stronger than laughter. Humor is a persuasive technique and is used by many marketers. These types of videos act as a great hook and convey your brand’s personality. While crafting humorous words can bring a smile, creating a funny video is almost always more effective, resulting in physical laughter and warmth.
Use funny videos to expand your reach and show your leads a warm brand persona.
Product Specific Videos
Product-specific videos revolve exclusively around your product, and they’re an excellent method to convey the unique value proposition of your brand.
Product Demonstration Videos
These videos are compelling because it brings the product to life. While photos can be misleading, it’s much harder to edit clips – especially if you’re using the product in real-time. A product demonstration video also allows you to show off the specific vital benefits, allowing you to maximize your message while highlighting the most critical features and profound benefits.
Use product demonstration videos to show your leads how easy or effective your product is and highlight the critical differences between your product and your competitor’s.
Lifestyle videos work in the same way as product demonstration videos. While a product demonstration video revolves around how the product works, a lifestyle video allows people to see your products or services in real-life scenarios.
This works in the same way as providing solid social proof and helps to build assurance and minimize objections.
Use lifestyle videos to allow your watchers to emotionally connect to those using your product.
Testimonial videos work based on building trust and credibility. Testimonials – whether they’re written or recorded – are powerful tools. While the written reviews deliver a message, filmed reviews are far more powerful, adding an extra layer of trust.
Use testimonial videos to show your viewers that you’re reputable with satisfied customers or clients.
Educational videos are jam-packed with value. It’s this value that leads to solid conversion – whether that’s the conversion of leads, visitors, or sales.
The vast majority of educational training videos require a long-term strategy, however, should you get them right, the rewards can be at a higher conversion rate than paid ads.
Explainer videos are usually short to the point. They’re crafted with the apparent purpose of explaining certain aspects of your product or service. These are slightly different from product demonstration videos, as a product demonstration video focuses on the product as a whole. An explainer video, however, dives deep into certain features or benefits.
Use explainer videos to convey the most desirable benefits or features of your product or service in-depth. Ensure you empathize with your demographic and pick an element that solves their problem.
If you’re posting regular ‘how to’ videos, it’d be helpful to consider posting to YouTube, as this is generally where most users go for video instruction manuals.
How-to videos are fantastic to break down instructions into uncomplicated, step-by-step demonstrations. They can revolve around your product or service or other difficulties within your industry that can link to your product.
Use how-to videos to showcase your brand’s expertise and establish yourself as an authority within the industry.
The term ‘webinar’ combines ‘web,’ as in ‘online,’ and ‘seminar.’ It’s essentially a virtual class, with a prime focus on learning. These are often streamed live, but they can be pre-recorded. Due to COVID19 and the need to social distance, webinars have become increasingly popular with many big and small businesses.
With remote working and the dependency on the internet for business owners, webinars are an excellent tool to provide training to teams or teach your audience a skillset that links to your product or service.
Use webinar videos to teach an online class. This could be to your team as professional development or a lead magnet to capture leads for your email list. Webinars, like how-to videos, position your brand as experts within the industry.
Why Choose Video Marketing?
Before you hit the recording studio, let’s finalize by reviewing the benefits of online video marketing.
Using videos as a business owner means you’re able to:
- Build a relationship, develop trust, and grow a steady rapport with your demographic
- Generate higher levels of interest in your products or services
- Hook watchers far more effectively than written content
- Enforce more vital call to actions
- Position your brand as a thought leader within the field
- Show the world your brand’s ethos and values, allowing you to be relatable to your audience
Ultimately, video helps you pave your way to business success. With so many benefits, it’s no wonder why video marketing is soaring in popularity with business owners and marketers. Consider your brand carefully and structure the correct type of video for your audience. Think carefully about the video content they need and which they’ll respond best to.
Paid Ads Budget: How to Spend It Wisely
Digital marketing is an important aspect of your business if you decide to transition to the online environment. This method of promoting your branding, products, and services allows you to reach your target audience in a cost-effective, efficient, and measurable way.
You can engage in digital marketing in two ways. The first one, SEO, is the most common strategy used by startups and other businesses. It is done by optimizing your website for search engines, such as Google and Bing, without additional costs. Doing so allows you to rank in search engine results pages (SERPs) and gain organic traffic to your website whenever a user searches for a keyword that you targeted.
On the other hand, you can try launching a pay-per-click (PPC) campaign. This digital marketing strategy will help you acquire your desired results faster.
What is PPC?
PPC is a marketing technique where you create ads for your brand and display it online to reach your target audience. Every time a user clicks on one of your ads, you pay a fee—thus its name. Basically, you can consider it as a way of buying visits or traffic to your website instead of earning them organically through SEO.
How to Spend Your PPC Marketing Budget Wisely
As a startup or small business owner, you know that your company does not have that much cash inflow yet. This means that every marketing move you make is crucial to how your business will perform.
Additionally, since PPC is not free, you must be wise in how you spend your marketing budget. To help you make the best decisions for your business, here are some insightful tips.
Know the Value of Your Lead
Your lead value can serve as your yardstick for determining the right amount of marketing budget for your PPC campaign. Knowing this number allows you to make more informed decisions regarding your paid ad strategy. It can also help you ensure that you are not paying more for advertising than how much your leads are actually worth.
You can compute your lead value by first knowing your average cost per lead. You can use this formula to do so:
Cost per lead = Total cost to acquire leads ÷ Total leads acquired
Therefore, if you spent a total of $10,000 to acquire 100 leads, your cost per lead is $100.
Then, let’s say that 20 people out of your 100 leads converted and bought the $450 phone that you sell. That leaves you with $9,000 in sales.
To compute your lead value, you have to take your total sales and divide it with the total number of your leads. Let’s apply this formula to the example given above:
Lead value: $9,000 ÷ 100 = $90
Now, you know that each of your leads is worth $90. This means that you are overspending for your marketing efforts to acquire one lead. To address this, you must optimize your ad spend and ensure that it does not cost more than your lead value.
Use Display Network
Using PPC to promote your products or services may seem simple. However, learning about and implementing different paid advertising models without taking advantage of any AdWords management services can be intimidating to a novice.
To make everything more manageable, you should start by utilizing the Google Display Network. Since this system reaches over 90% of internet users around the world, it is perfect for startups and small- to medium-sized businesses that would like to build brand awareness.
The Google Display Network is also ideal for smaller businesses because of its lower cost per click (CPC) compared to search ads. According to WordStream, the average CPC for display ads is $0.63 while search ads typically cost $2.69 per click.
However, you should manage your expectations when using the Google Display Network. Yes, it is cheaper, but it would not always be reliable in increasing your conversion rates.
Display ads are mostly designed to target top-funnel market and make users aware of your brand and what you offer. Most of what you will gain from display ads are leads, and it is very rare that a user who saw and clicked on your display ad will immediately convert to a sale.
Target Niche Keywords
The PPC arena is riddled with small businesses and large corporations from various industries, making it a competitive field. Chances are, one of your competitors is a large company with a big marketing budget.
Since, most likely, you would not be able to beat their bids on broader and short-tail keywords, you have to think thoroughly about your strategy. One thing you can do is opt for niche or long-tail keywords.
Bidding on more specific keywords will allow you to reach your target audience without competing against larger corporations. This will also help you obtain a higher click-through rate (CTR) for your website.
Additionally, choosing less competitive keywords will bring your CPC down. Since there are fewer businesses that are targeting the keywords you have chosen, you do not have to raise your bid to have your ads displayed.
Come Up With a Compelling Ad Copy
Once you are more comfortable with running paid ad campaigns, you might consider launching search ads. There are several things you have to think about when creating your ads, such as the keywords to target and your budget. Additionally, since search ads are mostly text, you should ensure that your ad copy will entice users to click on it.
The first thing you should work on is your headlines. This part is the first thing that users see when they encounter your search ads. It will play a large role in how individuals will perceive your ad and how well it will perform.
Make sure that your headline focuses on the benefits that users will enjoy once they choose your brand. You should avoid using generic advantages that other businesses include in their ad copy. Make your brand stand out by incorporating benefits that users will not find anywhere else.
Next, ensure that your ad’s description supports the idea that you communicated in your headline. Having misaligned messages may confuse users, forcing them to ignore your ad and look elsewhere.
You should also include a call to action in your ad copy. Having a specific call to action to end your ad’s description will help you increase engagement. Avoid using generic examples as they may turn users away from your ad.
Remember that you should make sure your copy is really good to entice people to click on your ad. Doing so will allow you to increase your CTR and make every cent that you pay for your ad count.
Optimize Your Landing Page
Once a user clicks on your ad, you should direct them to a really nice landing page that fulfills the promise of your ad. This means that the messaging on your landing page should be consistent with your ad copy. Achieving this will increase your chances of converting a lead into a customer.
Having an optimized landing page will also allow you to save money. This becomes possible because when your landing page is great, you will provide users with a better experience, which Google appreciates. Once the search engine notices that individuals prefer clicking on your ad because of the great user experience you offer, you will be given a high quality score.
The higher your quality score—at least 7—the less you would have to bid on your target keywords. This is because Google trusts that you will provide its audience with a great ad and user experience, so you do not have to prove your relevance and authority through money.
To optimize your landing pages, here are some things that you can do:
- Make your offer clear by keeping your headlines bold and short
- Write a convincing copy
- Utilize relevant images
- Use eye-catching and enticing CTAs
- Highlight your unique selling point
- Improve your landing page’s loading speed
- Optimize your form fields
- A/B test your landing pages
Remarketing refers to a paid ad marketing strategy where you connect with users on the Google Display Network who have already encountered your brand through your website or mobile app. This technique is useful in chasing individuals throughout the internet with your ads until they are ready to buy your product or pay for your service.
Through remarketing, you can retarget a user who has browsed through your website and looked at the products or services that you offer. Once you determine the certain product or service that they are interested in, you can promote the same offers to them through display ads.
For example, a user clicked on a dress that you sell on your website and left. You can create a display ad for the same product and show it to the user as they browse other websites and platforms on the internet. If your remarketing is successful, they will purchase the dress and maybe even more of your products.
You can also use remarketing to continue selling products to your existing customers. Let us go back to the previous example.
So, the user has bought a dress from your shop. Now, you can show them display ads containing items that are related to the product that they bought. You can sell them accessories that go with the dress they got or other apparel that matches the item, such as shoes and jackets.
When you remarket, you would not have to spend too much effort in trying to convince the user to convert. They already know about your brand and have shown interest in the product or service that you offer. You only need to give them a little nudge to go through with the transaction and make a purchase.
In addition to being a great conversion strategy, remarketing is also cost-effective. Similar to regular display ads, remarketing ads have lower CPC compared to search ads.
So, if your website receives a significant amount of traffic (>1,000 visits), you should definitely utilize remarketing. This strategy will allow you to see higher conversion rates without spending too much effort and money.
Watch Out for Overdelivery
When setting up your PPC ads, you can set your average daily budget per ad group to manage your expense for the entire month. However, when one of your ad groups is performing really well, Google may show it to users more frequently, causing it to take up more than your allotted daily budget.
If you fail to notice this, you can use up your budget for the month pretty quickly. This means that you might not have enough money to run your ads for the rest of the month, causing you to lose prospects and traffic to your website.
You can avoid this from happening by making sure to monitor your ads at least 2-3 times a week. Doing so will allow you to see if any of your ad groups are overspending.
If one of your ad groups is spending more than your daily budget, you can choose to reduce your budget for your other ads or your entire campaign. You can also reallocate your money towards the ad group that is performing well. Doing this will allow you to run the great ad group much frequently and longer.
PPC is Not for the Faint of Heart
Utilizing paid ads to promote your business allows you to enjoy various benefits. Through PPC, you can gain significant traffic to your website without waiting for too long and acquire qualified leads that you can easily convert into customers.
Being successful in PPC is not always guaranteed. You have to go through a lot of trial and error before you find the strategy that works best for your company. But once you find the right PPC approach for your business, you will continue thriving without wasting any of your marketing budget.
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