This article was originally published by The Growth Masters Daily (www.thegrowthmastersdaily.com)
Deal of the Day Vs Mobile Marketing
The company known as Groupon has revolutionized email marketing, becoming a multi-billion dollar valued business and did it in a mere two years. Copy-Cat business models are carving their own niche into the market, but let’s face it, unless Groupon implodes, they have little change of becoming a direct competitor on a national scale. Don’t get me wrong, I think the Deal of the Day concept is terrific, and Groupon is to be saluted as achieving the unachievable; making email marketing a viable business model.
While most small businesses focus their attention on the micro market, the macro seeming out of reach, their marketing and advertising dollars are utilized with the hopes of a large return in a market they can control. With mass email marketing those deals, companies report tremendous response, often overwhelming the merchants. Text marketing can be controlled to the number of recipients, can be spread out over the course of a week or more, and can be more manageable, as the response is often a mystery.
Deal of the Day marketing companies cost more than anyone is willing to discuss out loud, but the truth is the fee is anywhere from 15-25% of the revenue generated from the offering. If a merchant is discounting their merchandise to win new customers, the decreased margin is diminished even further by the cost of marketing through one of these companies. Is there another way?
The answer is a resounding Yes! Through the use of text marketing, companies can target their customer base through a variety of different means. From offering REAL-TIME discounts, special deals or whatnot, to couponing and QR Code (2D Barcode) merchandise messaging. The cost of a program is less than half that of the alternatives, and the ability to instantly track results is at hand.
Most of America believes texting is a one way messaging vehicle, but the truth is that database development is affordable, fun and easy to manage. By running a contest, those participants’ data is collected with each response. If you were to conduct a survey, every vote means another contact has just been entered into your database.
Remember when the television program asked you to vote for your favorite dancer, vocalist or other reason to vote? Can you remember what the SMS code short code) was, or the keyword? Chances are if you voted, you have no recollection of the “text to” and the “keyword” was. No one could have that good a memory, because there was little if anything to attach the information to their brain. All that has changed with the introduction of identifiable short codes, keywords that can be your name or your company’s name, or your product, or whatever is memorable. In a previous article I provided an example of an effective short code (SMS). Here’s a short example for the development of a database.
On a table tent, sign, billboard and any other advertising medium, the message can read: Want to join our VIP Club to receive special VIP Only invitations and special discounts? Simply text “yourcompany” to 90210.
Who can forget the most recognizable five digit number in the world? From the television show about the zip code in California, to the magazine, to the newly recreated television show, 90210 is forever embedded into America’s (and the world’s) psyche.
How effective is a text marketing campaign? Fortune 50 companies like Ford Motor Company have gone on record stating that the major focus of the marketing and advertising dollars spent in 2011 and beyond will be in mobile marketing.
If Ford believes that is where to spend their money, doesn’t it make sense for all business?
For additional information, feel free to text texticon to 90210.