KnowThis Marketing Blog ArchivesThe Right Way to Compare Web AdvertisementsPosted by Paul Christ March 18, 2010 Statistical Significance: Not Just For Geeks Anymore (Search Engine Land)
Comparative analysis is most widely utilized in advertising testing, especially online advertising. With the immense amount of data available to those engaged in Internet advertising, comparing what works and what does not can simply be a matter of looking at the numbers. Many companies do exactly that by employing so called A/B testing where effectiveness of one ad is compared to another (see MarketingExperiments for more on A/B testing). Measures of effectiveness include click-through-rates, purchases or other user action. Yet many marketers responsible for online advertising often do not take a deep look at whether the results truly represent a difference, at least not in a statistical way. This story outlines what it takes for comparison of two ads to be statistically significant and paints a nice picture of how results can be misinterpreted. It also suggests that certain tools available on the Internet to measure statistical significance may not be quite accurate.
Note: In the Comments area of this story there is a posting discussing a neat online statistical tool for evaluating A/B testing that may, in fact, addressed the problems raised by the author of this story. Even if a marketer follows the advice presented in this story, what other issues need to be considered before the marketer makes a final decision on which advertisements are best? Image by nDevilTV 0 CommentsSmall Business and Social Networks Are Yet to Be a MatchPosted by Paul Christ March 16, 2010 Entrepreneurs Question Value of Social Media (Wall Street Journal)
Yet, for many small business owners their initial experience with marketing through social networks has not gone well. As pointed out in this story, many entrepreneurs are in the dark when it comes to understanding how social networks can be used to meet their marketing objectives. And because of this experience they are questioning whether Facebook, Twitter, MySpace and other services are all talk and no action when it comes to being a valuable marketing tool.
In addition to what is discussed in this story, what other factors affect whether marketing through social networks is something a small business should consider? Image by KateMonkey 1 CommentTo Regain Importance MySpace Tries a Repositioning StrategyPosted by Paul Christ March 11, 2010 Once-Fading MySpace Focuses on Youthful Reincarnation (USA Today)
As this story discusses, MySpace is now being forced to reposition itself. It is altering its marketing strategy and taking a more targeted approach. By narrowing their focus the company hopes to appeal to the under 35-year-old market, with even more emphasis on the under 25-year-old crowd. The changes in marketing strategy include a new website design, online gaming, new content and renewed emphasis on music and movies.
In addition to the changes noted in this story, what else will MySpace need to do to once again gain traction in the social network space? Image by MySpace 0 CommentsConsumer Ratings of Top Supermarket BrandsPosted by Paul Christ March 09, 2010 America’s Favorite Brands (Stores Magazine)
First, it is important to understand that the results show the leading brands by category but do not necessarily indicate the top individual products within a category. For instance, under the Breakfast Cereal category Kellogg is listed as the top brand but the results do not indicate which of Kellogg’s cereal products (i.e., Raisin Bran, Rice Krispies, Froot Loops, Corn Flakes, etc.) is the top selling individual brand. In fact, the top individual brand in some categories may come from a company that is not ranked as the number one brand. Second, the story does not offer much detail on how the information was collected other than indicating that consumer wrote down brand names. However, the research company behind the numbers, BIGresearch, is known to use large consumer research panels and such panels can be very effective when the research is planned correctly. By correctly we mean proper controls are in place including using appropriate methods for participant selection, data collection and data analysis. More details on how the branding information was collected could offer more insight into the real value of these rankings. Third, while the data collection details are not provided, it does not appear that these rankings reflect actual sales but instead reflect customer's recollection of what they purchased. If the research design is strong these results should be similar to market share information which typically is based on sales.
Which of the 20 categories listed in the rankings would appear to be least susceptible to competition from store brands? Image by iboy_daniel 0 CommentsThe Millennial Generation Comes of AgePosted by Paul Christ March 05, 2010 Marketing to the Millennials (New York Times)
Like other named generations (e.g., Generation X, Baby Boomers, etc.), Millennials exhibit behavioral characteristics that tend to be unique to their group and, consequently, this behavior is of interest to marketers. For instance, they exhibit an “always available” behavior that is associated with being the first generation to grow up with regular cellphone access. These different behaviors lead to the demand for products and services that differ from those sought by other generational groups. This story looks at the key values of this generation and offers suggestions for how companies can effectively target Millennials. The discussion on the use of social media by this group is particularly enlightening.
How does the purchasing power of Millennials compare to that of Generation X and Baby Boomers? Image by nimble photography 0 CommentsPage 1 of 21 << Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >> |
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One of the true tests of what works in marketing is to use quantitative measurement methods to compare what happens when changes are made. As an example, a company may test two different types of incentive plans with its sales force. Calculating the results of these plans could help the company select the plan that leads to higher sales.
It is virtually impossible to escape the hype surrounding social network websites (a.k.a., social media). The buzz regarding social networks is so strong that all types of businesses are now seriously considering whether they MUST start incorporating it into how they do business. In particular, businesses are wondering how social networks can be utilized as part of their marketing strategy. They have heard about the success some companies have had with marketing through social networks and think the time is now right to jump in with both feet.
Five years ago MySpace ruled the social media world. It was considered the darling of Internet startups and eventually was purchased by News Corp. for nearly $600 million. But like many fast growing companies, MySpace tried to be everything to too many people. Trying to appeal to many, diverse market segments with what amounts to being the same product is often difficult unless the product is a true commodity (e.g., milk) that nearly everyone wants. Unfortunately for MySpace, customers in the social media market were not looking for the same product; they wanted a product that was customizable to their own styles. MySpace's limited offerings opened the door for other social network sites especially Facebook, which 
What are the top brands of frozen food, bath soap and ice cream sold in U.S. supermarkets? If you are not sure then check out this story which provides a nice ranking of brands in 20 consumer product categories (
Many regular visitors to KnowThis.com will be highly interested in this story since you are the subject of the story. The focus here is the so-called Millennial generation, defined as those who are mostly in their 20s and came of age at the beginning of the 21st century. In marketing terms coming of age means that this group is now important purchasers and represent a huge and attractive market.
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