Shopping Spree!!

What a concept! Groupon  is a discount experience website that allows Groupon members to obtain all kinds of goodies from 50% to 90% off. If enough people sign up for the deal of the day, the deal is activated and ready to use.

This reminds me of a popularity contest in some way, as enough people need to sign up for the deal to be on. I love the fact that there are this websites available that offer regular folk the opportunity to experience or purchase beautiful things for a fraction of the cost.

The question is, what is in it for the vendor? Well in my opinion I see these websites as a tool to acquire new clients that otherwise might not purchase from them or even know about them. Since the website offers a diversity of deals, its members are exposed to different brands.

In addition, it is a great way to promote your product or service and create awareness among consumers. This is a new business model that is growing fast in part because it partners with social networking sites. Social networking is HOT and people love to share what they like on these sites, so it makes for a perfect complement.

This site is so popular that event Google made a $6 billion offer, but guess what? Groupon declined the offer. They must see real potential on this.

What do you think about GROUPON? Will you sign up? I did. For more on great deals check this article out

The effictiveness of Social Networking for your business

This week we will be exploring the world of Social networking and how this tool affects our small businesses. This medium of interaction has become such a popular choice for small business owners for a couple of reasons.

1. F-R-E-E: Most forms of social network are free and are easy to access
2. CONTACT GALORE: Small business owners have access to millions of people from the convenience of their home or office
3. Increase sales: as this article tells about Dell.

But not everything that shines is gold, since it requires massive amounts of time to keep in touch with your clients. Here is an interesting article with the Do's and Don't of Social Networking. 

I personally feel that SN has the potential to help business acquire new clients, increase sales and market share. It is all in the way we use it.

PS: Happy Thanksgiving!

Marketing of the brain

As soon as I typed Neuromarketing into Bing, many resources popped up. Apparently there is more research on the subject that I thought. One interesting piece of information that I found HERE compares the impact of direct mail (paper) with digital media. Surprisingly, paper is more effective since the human brain processes it as being more real than digital media. I guess even our brain realizes the necessity of staying grounded in this technological era.
According to the NY Times article many companies including Google have used this new technology to target their existing and prospect clients more effectively. With all the ad clutter out there, marketers are trying new ways to reach and imprint on their consumers all in hopes of creating a lasting impression on their minds and a difference at the checkout register.

This week we are focusing on how little money automakers will receive from Generation Y. I read this article, which is backed up by research and statistics, but I find that this does not apply to the city of Miami. This is the only city in the US where I have lived but, I visited other cities in the country where this article could be relevant. In Miami, if you do not have a car you do not exist. I don't mean this in terms of "coolness" or popularity but in terms of practicality. For example, I live in an area where the closest supermarket is 4 blocks away. To many this might not seem like a big deal but the blocks are sooo long that it takes me 15 min just to get there by foot. Also, how are you supposed to take all the groceries back to your home??? The public transportation in Miami is very poor and inconvenient .This is not just my opinion but this Forbes article supports it too. Miami ranks at the # 3 worst city for commuters,public transportation is not too well organized. Therfore, citizens MUST have a car in order to go to work and carry on their daily routines. One of the things that surprised me the most when I went back to Argentina to vacation was the fact that all commerce was so accesible and close. I find that this is the case in many pther cities but in Miami things are different. I think it all depends where you are living and if anuything, automakers can move down to Florida.  

Business Models

This week we will focus more on the  business side of the equation, more importantly on how the market has evolved since the launch on the World Wide Web. I found this interesting website  that argues that everything old is being recycled in the web. The Internet has created new business models but some of them are just digital versions of oldies but goodies. For example, the Brokerage Model which include popular companies such as Priceline.com with the feature "name your price" and Ebay.  Brokers are market-makers and this model focuses on bringing together buyers and sellers facilitating transactions. Brokers play a frequent role in business-to-business (B2B), business-to-consumer (B2C), or consumer-to-consumer (C2C) markets. Usually a broker charges a fee or commission for each transaction it enables. Another business model is the Advertising model found in YAHOO! and Monster.com. These sites offer free features like email or search engines but charges its clients to post ad banners. This model is an extension of the traditional media broadcast model.

So after all, it is not about the "new business models" but adapting already existing concepts into the new technology era.

Have a great e-week!

Ding Ding Digg

So i was doing some research online for the latest e-marketing news and found  this. This week the battle is between Digg and America. Digg is a website initiated by a 20 year old kid. The purpose of Digg is to allow its users to vote for news so the stories can raise to the top. Different sources estimated that the founder made $60 million dollars in the first 18 months of the website's life. You might be wondering... WOW i should really start a website right about now! The article reported that the kid did not make $60 million but that is what the website was worth in shares. Also, that amount of money was not referring to revenue but to estimated value in terms of visitors or audience. The article goes on to report that Digg makes about $15 million a year and is still operating at a loss. As we have seen in the past, it is not enough to have a great idea but you also need a business plan to actually bank of your mind. What do you think are some ideas of how to keep Digg afloat? The website is quickly loosing its momentum... What are they lacking? Did you know about Digg before reading this? I sure didn't but I am going to check it out and you can too by clicking here: Digg

Blue icon for privacy

Oddly enough, it depends of the advertisement that this icon receives in order for consumers to know about it. If the icon is just placed on the web page and it waits on the consumer to click on it to learn more about it, not many people will pay attention to it. Also, customers will know the meaning of the icon if enough companies sign up for this and if the icon is present in many places as to arise curiosity in the consumer. Personally, I do not feel that it is a violation of my privacy if ads that might be of interest to me are shown on the sites that I visit. If I have to deal with pop up ads, banners and everything in between I rather be something that I am interested in rather something that I am not. For more information on the mystery icon click here.

Check out the 7 principles of the Self-regulatory program here

Internet Eyes

Well, isn’t this idea just wonderful! There is a new program on the web that pays you for catching retail criminals…from the convenience of your home. Having worked in retail for more than 3 years, I can tell you that someone is ALWAYS watching. Retail stores have trained Asset Protection personnel that is in charge of catching shoplifters. These people have been trained and know what to look for in a shoplifter and what their behavior is like. They undergo rigorous training and an extensive background check before being hired. I feel very uncomfortable knowing that a plain old folk that had nothing to do with the store that I am shopping at would be watching me while I shop.  Also, what if someone reports a false crime, making an honest mistake (since no experience is required)? This could get the company that created this software, Internet Eyes, and the retail in big trouble for wrongly accusing a person.  If you check out the FAQ on the website, the procedure is described as a game, only that it is not. The viewer gets “rewards” and “free additional alerts” when they report a crime that results in apprehension. Also, there is no background check for participants only “a seamless ID and Age verification check” along with a monthly, quarterly or annual subscription fee. What about privacy issues? Just think about this since, anyone that lived in the EU and is registered could be watching you while shopping.

Check out this links on internet privacy
Privacy Rights
New York Times

The Future of Print Media

Hi There,

So this week's topic deals with the future of print media. I would like to start by saying that I love magazines, not the ones that you read online but the ones that arrive on the mail and you can flip through the pages. There is something very exciting about getting the latest magazine all wrapped up in a plastic cover before the non-subscribers and getting the dish on the latest beauty and fashion trends. I like that I can smell the latest scents and test the new skincare through the integrated samples. Also, how many of us catch up on the latest celebrity scandals on the checkout lanes at the supermarket? I know you are smiling right now.

The fact is that now more and more print publications are going online but also more and more people are subscribing to print magazines online as well. Since print publications cannot stop the online craze they are adapting to it. How? By integrating their print editions with their online content. Readers now can get behind the scenes look at photoshoots, interview and special features by going to the magazine's online website. They can enter sweepstakes and even write comments or "letters" (more like e-mails) to the magazines. Magazines should look at this culture change as an opportunity rather than a threat. They have the availability to connect more easily, effectively and faster with their readers. Also, from a marketing perspective, now more than ever publications have the opportunity to get insight into the lifestyles of their readers therefore making the content of the magazines and reaching their target audience more effectively. 

 I still love grabbing a book and flipping through the pages. I feel it is more personal than an online version and I get into the story more intensely than through an e-book. Hard copy books help me keep focused on the story.  
Now newspapers are a complete different animal. This industry is really suffering. I never liked the oversize pages, they are too uncomfortable to hold... When it comes to news, I prefer the online version because I can search for what I want and can get different perspective simply through the click of a mouse.

I encourage you to read the pictures posted as this is a great example on what the print industry thinks about the online craze. I came across this ad while flipping through the pages of W magazines and thought it is worth sharing with all of you. Also, take a look at this YouTube VIDEO which features top magazine CEO and their view on the evolving technology and this one which gives some interesting facts on magazine subscription.

PS: I wrote this post before finding the videos. :)

Harry vs. Boeing

There is nothing more enticing for the media than using children to attract the public. Adorable little Harry Winsor mailed Boeing his idea of what a perfect airplane would look like, in hopes the company would consider his idea and create this plane. Cold Boeing ignored the fact that Harry is just a small kid with a BIG imagination and sent him a standard letter stating  that Boeing "does not accept unsolicited ideas" because " the time, cost and risk involved in processing them, therefore, were not justified by the benefits gained".  There are many ways to look at this situation. For starters, Boeing needs to find a better way to communicate with its consumers. In an age where global communication can happen in a matter of instants and online censorship is not regulated, companies need to be extra careful in how they handle their image. If this situation would have happened 20 years ago, which I am sure it did, not many consumers would have known about it. Many companies are still not up to date on how to handle their PR in this new age of Web 2.0 and this reflections are seen on cases like this one. Of course it does not help that Harry's dad is the CEO of an adverstising agency, uses crowdsourcing and like millions of people, he has a blog where he comments on everyday relevant situations like this one. His message was instantly transmitted to all his contacts and it reached The New York Times who, of course, wrote an article. Maybe Mr. Windsor saw this as the perfect opportunity to advertise his ad agency. After all, free publicity does not cost anything. Moreover, this Pandora box gives other airline companies the opportunity to use this case in their next ad campaign with tag lines that could read "fly with us, we are a family company" or "we value our customers, even if their imaginations are up in the air". Boeing will learn its lesson and its image might get damaged for a short period but it will recoup soon enough.

 Bottom line: this is a global learning lesson in guarding our image. Now more than ever we have to be more sensitive to what we say and how we say it, because there could be a blog post somewhere on the web that could turn into a newspaper article that could generate controversy and end up in someone else's blog. :)

Fashion's Night Out and Social Media

Hi there,

I could not have a better introductory post that relates more to this blog. As many of you may know, yesterday was Fashion's Night Out. This event was started last year to boost the Fashion economy in NYC. Due to last year's success, the event was expanded to the entire world. As an event coordinator, I had the opportunity to experience first hand the power of social networking. Within a matter of weeks we received an overwhelming amount of RSVPs to yesterday's event. Through social networking, everyone knew about this event. Facebook helped a lot but the main source of RSVPs came through electronic evite to our customer's and contacts. Social networking generated word of mouth which in turn resulted in more people knowing about the event. Therefore, do not underestimate the power of social networking and EMAIL. A strong database and networking guarantees success, even if for just one night. :)

More information on FNO

http://www.fashionsnightout.com/