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5 Keys To Online Success
It is being more commonly understood that the dot.com bust of 2000 was more the result of bad business models and execution than of some intrinsic fault within the Internet. Many businesses with models appropriate to the Internet are alive and thriving.
Perhaps you’re wondering if your own business has what it takes to be successful on the Web? While every situation is different, experts have noted that successful online businesses possess a number of common characteristics. Let’s take a look at five key characteristics that they share.
1. Management possessed a “Net” awareness.
Dun and Bradstreet’s 20th Annual Small business Survey reports that two-thirds of today’s small businesses have Internet access, and approximately 50 percent of those also have a Website. And more than 60 percent of those with Internet access plan to increase their use of the Internet in coming months.
As business owners and decision-makers, you will most certainly benefit by spending time online learning about the Internet. Look at how your competitors and industry are using it, try to discern where your markets potentially hang out, and ask lots of questions.
2. They had an organized plan.
Do you remember the story Alice in Wonderland and the Cheshire cat? One day Alice came to a fork in the road. Looking around, she saw a Cheshire cat in a tree. “Which road should I take?” she asked. “Where do you want to go?” the cat replied. “I don’t know,” Alice answered. “In that case,” the cat said, “it doesn’t matter which road you take.”
Once you have gotten familiar with the Internet and its potential for your marketing, create a written plan of action. Simply putting your ideas down on paper will help focus your thoughts. Set goals and identify how you can get there.
How important is it to have a plan, or better yet, a written business plan? The Small Business Administration says that most successful companies started with a detailed business plan and those that didn’t plan were far more likely to fail.
3. Successful ventures implemented their creative ideas and then learned from what worked and what didn’t.
Kraft Foods is the largest branded food and beverage company in North America, and the second largest worldwide. Paula Sneed, one of their vice presidents, was a keynote speaker at an Economist Conference. She boiled down the basis for their success down to three simple “ingredients” which I believe are also important to all businesses, no matter what size.
Make smart bets. Kraft identified initiatives that build brand, increase customer loyalty, or cut costs.
Move fast. Once identified, they implemented their initiatives. I think one of the most notable things Sneed said was, “If we’re going to fail let’s fail fast and fail cheap.”
Make course corrections. Kraft expected both success and failure. They made mid-course corrections based on early feedback to improve the likelihood of success. Even failures provided good market feedback they could use for future initiatives.
4. Successful Web ventures did targeted marketing.
As a marketing consultant I find that many small businesses have great difficulty identifying their choice markets. I can’t tell you how many times I ask entrepreneurs what their target markets are, only to be told, “everyone.”
But targeting your marketing to “everyone” doesn’t make sense. Targeting means identifying those potential customers who represent the best prospects for sales and focusing your marketing efforts on them. This is simply the old 80/20 rule (that 80% of your sales come from 20% of your customers) in practice.
In fact, finding a niche and working to serve its unmet needs is one of the best uses for the Web. Why? Because the Web isn’t really a mass marketing tool, as some would believe. It’s actually a supreme targeted marketing tool.
5. They combined online and offline marketing.
I always hear people making either/or kinds of comments about offline versus online advertising. But successful companies recognized that online and offline advertising are synergistic. They support and amplify one another.
Here are two simple examples. First, including your website URL in all your offline advertising messages (yellow pages, magazine ads, circulars etc) will bring traffic to your website. Second, a signup form on your website that you use to send prospects your standard marketing printed materials (brochures, sales materials etc).
While these five Keys do not guarantee online success, including them in your business will certainly improve your chances for success.
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Airbnb’s search marketing shift: Should advertisers follow suit? (Search Engine Land)
Airbnb’s search marketing shift: Should advertisers follow suit?
With CPCs rising across performance media channels, is it worth following Airbnb's shift from PPC to brand marketing? Here's what to consider.
A recent Wall Street Journal article reported that Airbnb’s “strategy of slashing advertising spending, investing in brand marketing and lessening its reliance on search-engine marketing is continuing to pay off.”
This remark has sparked discussions among many advertisers, wondering if a similar strategy may work for them.
In 2019, Airbnb started to move budget away from search marketing in favor of broader marketing initiatives.
The pandemic accelerated the shift, with video and social media picking up the largest share of digital spend in 2021, according to data gathered from Semrush and Pathmatics.
*click here for full article and multimedia
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SEL's Amanda with an interesting and helpful article on Airbnb search marketing. I tend to agree that brand marketing and the like is the way to go. It's a saturated market as has been so for many years. Many brand managers, CEO's, bean counters and the like having been going direct to both creative and advertising agencies - I should know. Airbnb operators still see value in SEO as well as negotiating ad and copy rates with destination websites and niche website owners/ publishers. I've been in this game a few decades. A decade ago I secured a five figure deal with an owner on three continents with a number of properties involved, plus with an interactive game of skill tie-in with PR and news media elements. It was huge. If our agency didn't exist the likes of News Corp's Real Estate.com.au and/or Domain.com.au or maybe Google Ads would have secured it. As they say, you win some - you lose some. This Search Engine Journal feature has sparked my team and I to ramp up property aka real estate coverage including Airbnb again so thank you. There's still opportunity in the sector, be it Sydney, Melbourne, Vegas, Florida, Virgin Islands, Fiji or maybe even out the back of the U.A.E - you can bet the house on it! Web to the world over.
Red Bull drives F1 car through Las Vegas casino days before launch party with Hamilton
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Red Bull Motorsport Casinos Las Vegas Sports Sports News Casino News Media
Red Bull have helped to promote F1's newest race in Las Vegas set to debut in November next season.
Red Bull have driven a Formula One car through a Las Vegas casino ahead of this weekend’s F1 launch party. Visitors looked shocked as the car shot past blackjack tables at the iconic Wynn Las Vegas Casino.
Ahead of its run, the car was parked in the foyer with fans able to get close to the car. After driving through the casino, the car came to a stop at the front of the building where it was collected by a team of Red Bull mechanics.
The demonstration was completed with a drifting display from the F1 car and Red Bull’s Stadium Super Trucks machine. Social media users were shocked at the footage with some in awe of Red Bull’s display.
Twitter user @burrrke posted: “I would say there’s definitely room for disaster here, but I’ve never been in a casino or driven a F1 car. @masaloin added: “I should’ve been in Vegas seeing the Red Bull f1 car driving in the casino and on the Strip.”
Red Bull also took part in a filming session on the Las Vegas Strip on Wednesday. It comes just days before this weekend’s launch event to mark one year before the first race.
Fans reported on social media that Sergio Perez was behind the wheel of the car as the cameras started rolling. Footage shows Perez driving up and down the famous Strip before doing a 180-degree spin for the crowd.
Perez has already been confirmed to be attending the event at Caesars Palace on Saturday night. He will be joined by Mercedes F1 stars Lewis Hamilton and George Russell as well as Williams driver Alex Albon.
The event will be completely free of charge and will allow fans a chance to get up close with the cars. Spectators will also be treated by a live car demonstration on Las Vegas Boulevard and be introduced to the four drivers on the main stage.
Those in attendance can also enjoy F1's Pit Stop Challenge and grab photos with cars and trophies. F1 CEO Stefano Domenicali said the event would give locals a “taste of things to come” ahead of next season’s debut Grand Prix.
He explained: “We are thrilled to welcome our fans to the launch of the 2023 Las Vegas Grand Prix. The Las Vegas Grand Prix is going to become a regular fixture in the city and on the global sporting calendar, so it is important to have local fans both celebrated and celebrating with us from the very start.
“This launch is a small but exciting taste of things to come over the next year when all the Formula One teams hit The Strip."