Strategy
CriticalCreativeCollaborative
The Real Definition of Leadership… (CS Entry #24)
Leadership is not what you do when it is expected. Leadership is what you do when everyone is counting on you. It’s what you do when your team is down by ten and you’re all they’ve got.
When all the chips are down, and you know you’ve lost this hand, a real leader has the ability to turn discouragement into determination.
When it seems you’ve lost your electricity, a real leader will find a way to keep that oven warm, because a oven with no baker is a cold oven, and a cold oven never made no donuts.
Deb K Morrison and fellow SOJC: YOU HAVE THE ABILITY TO KEEP THAT OVEN WARM. HELP US TURN DISCOURAGEMENT INTO DETERMINATION. NEVER STOP MAKING DONUTS…
Engagement Metrics. New Tricks Gone Wild… (CS Entry #23)
The idea of a brand facebook page is, sadly to say, still a new concept to a large number of companies. For those who have embraced the social media marketing generation, Facebook has released a new set of engagement metrics with the ability to track not only user interaction with the brand pages but their interaction with the brand outside of the page.
You may have already noticed your news feed organized not only by links and tags you’ve selected, but even by noticing the times in which a brand or subject is brought up in casual conversation (ex: Conversations or status updates containing the word “Christmas” will be grouped together without anyone having to like or join a group.)
Recent statistics showing that the average facebook user spends over 25% of his or her time on their newsfeed show this is a very good thing for both the client and the advertiser.The client will save money on unsuccessful campaigns and focus on targets with a higher level of proven production. This is also good for the advertiser whom previously had little ability to prove a specific users reach beyond the actual brand space. Now they may more successfully target meaningful users as well as prove the success of a campaign to the client with a specific metric.
How I see Black Friday. (CS Entry #22)
Black Friday, the day most major retailers erase a years worth of debt and move from the Red to the Black. The Friday after Thanksgiving in which massive amounts of people line up in search of unthinkable deals. Some deals reaching savings as much as 80%. I may be out of line but the mere idea of a retailer having to offer a single day, at the end of the eleventh month, full of incredible discounts, just to break even, is outrageous!!!
When I see Black Friday, I see eleven months of inefficiency, dishonesty, and lack of execution. The original model of stocking the racks three or four seasons a year full of excess in an attempt to increase uneducated purchase decisions based off emotional impulse seems to be outdated.
Yes a retailer may make a significant amount of money on impulse sales but how much money do they lose through returns and unsold merchandise they’ve had to reduce in cost just to break even. I guess as long as they do the math and make sure to not reduce the cost so much as to make the retailer lose money, it’s okay but sure seems inefficient.
Today’s average consumer comes in with a higher level of education about the purchase than ever before. They know competitors prices, upcoming sales, and availability of the product before they even reach the door. The days of tricking the consumer seem to be over. Retailers should have a better idea of what the consumer wants, and better plan inventory schedules to create a more honest and efficient shopping experience for the consumer.
When taking a look at how customers are only willing to buy certain products at a discounted price, I see a lack of execution by both the innovation and advertising department. You’re most likely not creating a valuable enough product to appeal to the consumer, or not creating a platform for the consumer to see the value of the product. Like previously mentioned, the consumer is more educated than ever, they know how to find what they want and it is the advertisers job to create a platform for the consumer to find those products they see as valuable.
Yes retailers have managed to make a success of Black Friday for years but is this the most efficient, honest and strategic way of accomplishing a profit?
