Can a company survive on inbound marketing? It would obviously depend on the company's business model and the market they are competing in. However, it is safe to say that inbound marketing has taken over as the preferred means of relaying advertisements.
As compared to TV, radio, and print advertising. Blogs, forums, pod casts, and social media are considerably less expensive. As consumer's in a fast pace environment, we are saturated with media advertising and we only give 3-5 seconds of interpretation to a traditional advertisement before discarding it. Inbound marketing has the advantage of receiving potential clients searching for the best product and price from the start. It is up to the quality of the web site and the product/service to engage the costumer into action. The successes of Amazon and eBay tie into this, products do not generally sit around on a store shelf, costomers are actively engaging the seller for the product without any significant advertising. Active costomers are likely to buy a particular product, the issues is how does a company sell their product/service by these resources to their preferred target audience?
The cost of the product or service will determine how much effort must be taken to engage a costomer. Costomers will compair competing/ similar products more rigorously. Providing adequate resources whether it be video, studies, discussion forums, or trials can do this well.
I'm not saying outbound marketing is not without its place, just saying I can't afford a 5 million dollar Super Bowl ad!
Thursday, November 22, 2012
Why Big Companies Can't Innovate Big Time!!!
Sorry for my absence from these blog updates, I've been swamped at work and in my Numerical Methods class.
Firstly, when anyone in the United States thinks of Gerber products, the image of that blue and white baby face label immediately comes to mind.
So Gerber has some very real challenges branching out with a new product when they are so strongly branded across the cultural landscape. The idea was sound and the market opportunity is there, however the administrative and bureaucracy which tends to define the architecture of a large company will alter a good idea until it is perverted into an impotent liability.
What a large company can do to avoid these issues is to search for a potential solution by seeking a small start up that has a lot of the initial work done on that product segment and offer a partnership where the larger company can bring the venture capital, manufacturing, distribution, and marketing to develop a potentially successful off-shoot.
Firstly, when anyone in the United States thinks of Gerber products, the image of that blue and white baby face label immediately comes to mind.So Gerber has some very real challenges branching out with a new product when they are so strongly branded across the cultural landscape. The idea was sound and the market opportunity is there, however the administrative and bureaucracy which tends to define the architecture of a large company will alter a good idea until it is perverted into an impotent liability.
What a large company can do to avoid these issues is to search for a potential solution by seeking a small start up that has a lot of the initial work done on that product segment and offer a partnership where the larger company can bring the venture capital, manufacturing, distribution, and marketing to develop a potentially successful off-shoot.
Subscribe to:
Posts (Atom)