RSS

Facebook Fatigue…have you got it?


Interesting to read an article in The Drum http://thedrum.co.uk/news/2012/02/06/global-internet-survey-charts-facebook-fatigue this week about some research done on internet usage by GlobalWebIndex which, amongst other things highlighted decline in Facebook usage amongst the early adopters. Coined as “Facebook fatigue” it seems that these early adopters might now be leaving Facebook behind.

Whilst at the outset this might look like bad news for Facebook, in practice it really isn’t. Early Adopters tend to represent around 13% of consumers and they are likely to be more fickle and move onto new technologies quicker than others.

Facebook has experienced rapid growth since 2009, 5 years after the launch in 2004.  This growth will have been made up of consumers labelled as the Early and the Late Majority.  The Early Majority wait until the Innovators and Early Adopters have given something their seal of approval before committing.  This group can represent around 34% of consumers and once they start signing up the medium goes into the biggest growth phase eventually attracting the Late Majority – again around 34%.  This is where Facebook is probably now and it is inevitable as it becomes more mainstream that the cool kids, innovators and early adopters will tire of it.

It is no different to the band you liked when no one else knew about them graduating to being on the playlist at Radio 1. Suddenly they lose their appeal, the exclusivity of the club is no more and the values that you once so admired seem to become swamped by commercial drivers.  For Innovators and Early Adopters the fact that their Dad and their Nan are on Facebook and that big business are set to invest, moves it from cool to mainstream and there will inevitably be a decline in interest from this group.

For Facebook, however, this is the coup.  They now have on board the consumers who are the most loyal, the least reluctant to move to new technologies and the least concerned about being “cool”.  These people have developed networks, connected with friends past and present, shared information and personal details with something that they trust.  It is the perfect time to announce a flotation on the stock market because this adds to the credibility of the business in their eyes.

It seems Facebook have succeeded where MySpace failed. MySpace went after the cash too early and lost credibility amongst their following which was substantially smaller than Facebook’s. They have since struggled to regain this and with recent reports that even their employees have lost faith in it, it remains to be seen if the recent joint venture with Panasonic will save them. They would need offer something innovative and new to win back some of the Innovators and Early Adopters they have lost, get them to breath new life into their space and champion it to those more reluctant to take risks.

Some research done in the states suggests that early adopters are still using Facebook on a regular basis and it might be that the talk of “Facebook fatigue” outweighs the reality of people disconnecting from the space.  Whilst our friends and family are talking and connecting on Facebook we have a compelling reason to stay that is part of human nature….we don’t want to be left out or miss anything.

 

Tags: , , , , , , , ,

Vouchers..do they generate loyalty or devalue your brand?


Interesting to read in marketing week that some restaurant chains (La Tasca and Yo Sushi) are moving away from vouchers towards loyalty schemes that will reward repeat custom and create loyalty.  http://bit.ly/yHvIOQ

In my view this is a good move.  Vouchers for these chains have become devalued.  Customers are looking for places to eat based on where they could get a voucher for rather than deciding which restaurant they prefer. Desire is therefore built around the best deal rather than preference for the restaurant, the food and/or the brand.

A friend once said to me that he would feel “cheated if he went to a particular Pizza chain and had to pay full price, as they always have a voucher offer on”.  I am sure that this establishment and others have done great business through these vouchers and have set their prices accordingly but you have to ask at what cost to the perceived value of their product?

Customers like to feel special and dining out, whilst more prevalent than ever, is still a luxury.  If everyone has a voucher for 2 meals for the price of one no-one feels special.

Some of these chains have a good product and they should have faith in their offering to pull in repeat business.

 

Tags: , , , ,

How I make marketing work


Often when I speak with people about my work I get the impression still that there is a lot of mystery around marketing and how it works.  The perception can often be that marketing is the magic wand that solves a companies problems and that no one is really sure what works and what doesn’t and that marketers have all the answers.

I suspect, like many other professions, marketeers have been happy to let this misconception prevail. We all like to think we know something that someone else doesn’t.  I recently spoke to a  businessman who had built a successful and profitable business over 30 years he said to me, “I don’t understand this marketing stuff”.  My answer to him was that he had been doing it for over 30 years and just had not labelled it as such.  It is simple really, understand your product or service and the benefits it brings, match this to customer need and tell them about it.  This might sound a little trite but I genuinely believe that marketing is about pairing common sense with business acumen.

When I am talking to businesses I find that the owners, managers and staff know what the business needs, where it is doing well, what it needs to improve.  They often have the ideas about how to market their business and what needs to be done.  Where they can fail is having the structure to plan and the resources to deliver.  This can be the same in small organisations with no dedicated marketing resource and in larger firms who have invested in marketing teams.

That is why I have tried to simplify how I approach giving marketing advice or support.  My 3 key tips for making marketing work are:

1. Understand the business.  It may sound obvious but you would be surprised how many marketers do not. Unless you know what the business does and is trying to achieve, what its products and services are, how they are delivered, who the customers are and what they want, you will never be able to market it successfully.   Do you know what products are selling well, what the profitability is, how they contribute to the overall picture of the business?  Do you understand the sector, what the trends are, what your competitors are doing?  How much money is wasted on marketing activity that brings little or no results?  Often this stems from not understanding what the business really needs.  The board, directors and or management are more likely to respect your opinions and ideas if they come from a basis of sound knowledge of their business.

2. Take time to plan. This can be difficult particularly if you are under pressure to be seen to be doing something, lots of business owners are entrepreneurial and don’t like to “waste” time planning.  I have lost count of the times I have heard “just get on with it”, but without planning you can often get bogged down in the minutiae of an activity without seeing the overall picture.  If you don’t plan and set objectives, how can you be sure at the end of the activity that it has been a success.  Planning also means that you can schedule activity over time, you can link relevant activities together, forward plan for important events, forecast budgets and have a consistent approach.

3. Communicate, communicate, communicate. I can not stress enough how important this is. This is what I do. Before: communicate what you are going to do, why you are going to do it, what outcomes you expect. During: communicate what you are doing, how it is going, what issues you are having, how you are addressing them. After: communicate what you have done, what you have achieved, what you have learnt and what you are going to do next. I have two reasons for this approach 1. It demonstrates to your boss, client and/or colleagues that you have ideas, are doing something and are providing value.  I have seen people doing great work but not telling anyone what they are doing, why they are doing it or what they have achieved.  The belief can often develop that you are not doing anything. 2. It allows your  boss, client and/or colleagues to contribute, give feedback and guide you if you’re on the wrong track.  This collaborative way of working always yields better results and people buy into what you are trying to achieve if they have had some stake in it.

If you think you or your business could benefit from some straightforward marketing advice then please call me on 07827393181 or email jer@josrichardson.co.uk

 

Tags: , , , , ,

Happy New year


Back in the office after New Year and all I have in my head is plan plan plan.  I have started on a different tack this year and decided spend some time thinking about what I would really like to achieve this year and setting some goals for 2012.  In an effort to be more organised and actually focus on  goals rather than tasks I have thought out what the next step to achieving each goal is and when I need to do that by.  My thinking is then I wont be put off by the scale of some of the goals if I list all of the tasks involved at once and by having the bigger picture in mind all the time I wont get bogged down in the detail.  Let’s see how it works.

 

Happy New Year everyone, I for one am looking forward to a successful and Happy 2012.

 
Leave a comment

Posted by on January 3, 2012 in Uncategorized

 
Aside

This is the first blog post from Jane Richardson.  I am a professional marketer with over 10 years experience in legal marketing.  In 2011 I decided to make the break and join my family business, Jos Richardson and Son Ltd.

Our family business is 120 years old next year and has been a huge part of my life.  My father is the Managing Director and currently the business operates car dealerships and fuel filling stations. I come from a family of entrepreneurs and family businesses ranging from our own business in motor retail to farming and edible oils exporters, I always knew that running my own business was something I wanted to do so when my father suggested that I consider helping the family business with their marketing and HR I jumped at the chance.

This blog is about the joys and challenges of working for a family business.  I hope you enjoy!

Hello!

 
Leave a comment

Posted by on December 22, 2011 in Uncategorized

 

Tags: , , , ,

Image

This is me!


This is me!

 
Leave a comment

Posted by on December 22, 2011 in Uncategorized

 

Tags: