Location based services continues it’s momentum as it finds a home within digital marketing strategies. Marketers continue to see the value of consumer usage by identifying specific intent. As consumer usage increases, so does the opportunity to market to them effectively. Click image to enlarge.
Image by Markles55 via Flickr
Repeat customers. Everyone wants them yet few want to take the steps necessary to get them. The location based marketing continues to pick up momentum, and it’s primarily due to the 10 million+ users within Foursquare who are driving the influence. (Young, active males who influence their peers)
It starts with earning a few badges, then you get hooked on the points, add a few more badges – then it hits you: You realize that people are leaving helpful tips, to-do’s and recommendations. Then, you become Mayor of a location where you can actually get a discount or a reward. Even worse, you lose your Mayorship. Now you MUST get it back.
You just became a repeat customer. And that business loves you.
Check out how other businesses are using location based marketing to drive repeat customers in this NY Times article.
How are you using it? (Stay tuned for more details about how this entire movement will shift from active to passive and even incorporate mobile pay wallets!)
So, the latest “time-waster” to show up in the social spaces is Empire Avenue. Here’s a quick breakdown: You buy & sell “shares” of people; a virtual, wanna-be version of a stock market of social media personalities.
I do like the creativity, the site usability (considering the intricate nature of the platform) and most of all, the behaviors of the users within the site – that’s what I’m most interested in seeing. I’m curious how people will try to leverage Empire Avenue. Influencers, Internet Celebrities, major brands and plenty of people you have never heard of, you’ll see them all. But what’s their purpose for playing here?
I say check it out at the very least. You can decide for yourself on the typical “why bother” question posed whenever a new concept catches fire. Sure, the “game” element is fun. The ultimate goal for Empire Avenue is obviously the in-game sales and upgrades available to the users. They want you to buy “Eaves” and spend real money to increase your portfolio value (so you can buy more shares in people) or you increase your portfolio’s available cash by completing various free/paid “offers” such as buying a magazine subscription or an FTD floral arrangement.
For example, you can buy 70,000 eaves right now and get 30,000 extra eaves, for only $50. Why? Not sure. Is it worth it? Maybe, if you’re trying to increase your own exposure and want to try something new and cheap. I’d like to think people like Robert Scoble and Jeremiah Owyang don’t need to pay real money to claim another star on their social walk of fame. There are a few things you can do to extend your hand and play nice, such as endorsing someone’s blog feed link within their profile, recommending their shares for purchase and tweeting the fact you just bought shares in someone. (And you thought checking-in on Foursquare was odd?)
It seems like a clever affiliate model leveraging social gaming techniques: social connections, awards, chat, upgrades, time-based/expiration models, etc…plus it hits on multiple ego items.
The problem is the game element itself. It’ll eventually wear thin. The formula behind a users stock price, as I understand it now, rewards you for your connections and consistent sharing – not quantity of sharing. So, unless an active user like Robert Scoble hangs up his SM sharing activities, his value could be infinite. I’m curious if they’ll introduce the ability to short shares as well. Let’s hope they don’t add margin and options functionality. Charles Dow would roll over in his grave.
Not sure what renders a person’s value as overbought or oversold. (Other than zero activity and everyone selling your shares) Knowing this, could Scoble’s stock become the social media share value equivalent to Berkshire Hathaway?
I have seen a few nice examples of Empire Avenue being used wisely for additional exposure. Besides the brands like Ford & Audi, Jay Baer is using it to help promote his book, w/Amber Nasland, “The Now Revolutions” by giving away one free copy to shareholders who tweet their purchase.
Don’t give it too much thought thought. It’s just a game. And if you are interested, you can sign up here. Oh, and be sure to buy some shares in ERICM 
Have you tried it? What do you think?
Image via Wikipedia
Have a business? Want to try something new to market yourself? And, even better, do it without spending any money?
Here’s the simplest instructions you’ll need to help your business get free access to foursquare. Start connecting with your loyal customers and find new ones as well!
Get started by jumping into location based marketing by verifying your business on foursquare in 3 easy steps:
Have you verified your business yet?
Want to test yourself? Talk to a group about the basic, simple principles behind some of your business strategies.
That’s what Tim Eddinger, Josh Pies and I did today at the Victor Chamber of Commerce Social Media Breakfast hosted at Auction Direct USA.
A quick survey showed nearly everyone in attendance using social media. However, only a couple were confident enough to say they were using it effectively for their business.
Recap of the ideas & tips shared with the group. (Geared towards users with a general familiarity of SM sites, looking to add an additional layer to their efforts)
Quick links & examples:
Thanks to everyone who made it out this morning!
What else would you share with someone starting out or looking for fresh ideas?
Keeping a consistent presence anywhere online, especially Facebook, is more than a full-time effort. Unless you’re among the creative elite, have a seven figure ad spend and an army of support superstars, you’re in for a mighty challenge.
Plus, if you’re in an industry with a less than favorable perception of customer service and experiences – say, automotive – the odds are against you.
It doesn’t mean it can’t be done. Check out CheckeredFlag on Facebook – Christine does such an incredible job owning their Facebook presence with valuable relevant content on a consistent basis. Pictures, videos & contests with the occasional passive sales message; always some new from her – even fun stuff like trivia & riddles. And it works – it ropes me in every time. (Nice job Christine!)
How do you keep your fans involved?
Check out the BizReport Study below for even more info.`
Study: 36% of fans disengaging with brands on Facebook
If your business involves food, alcohol and any gathering space which combine those two elements you’re a prime candidate for a winning location based promotion.
This could become the barometer for the state of location based programs; as more “social” locations continue to use these concepts, the faster consumer acceptance will rise, eventually leading to more & more businesses jumping on board.
Take a look at these 5 Case Studies – each one showing unique ways to leverage promotions and make them as effective as possible.
Foursquare Marketing Hits and Misses: 5 Case Studies
Image via Wikipedia
More foot traffic. That’s what every business wants.
Knowing that over 18,000 people per day are signing up for Foursquare daily and even lesser known location based services such as SCVNGR signed up 100K+ in one week because of their Facebook Places tie-in, wouldn’t you want to consider the opportunities these channels may provide your brand? Yet businesses are still reluctant. Now is the time for the self-proclaimed Social Media Gurus to put their chops to work and create some serious change by leveraging the networks they (should) have been building.
A simple offer with a simple message and a small budget is all that’s needed. Start putting that influence to work. Being first to market this type of message is easy, but the window of opportunity to be that shape-shifter won’t last.
And yes, I understand that measuring foot traffic is difficult. The rest of your process needs to be in place to handle (close the sale) the increased foot traffic. Done right, more foot traffic should create a direct increase in revenue. If you’re missing that point, then you shouldn’t be using location based services in the first place
Check out the link to the entire McDonald’s Case Study below to see how their simple plan created measurable results in no time.
Case Study: McDonald’s ups foot traffic 33% on Foursquare Day
ExactTarget recently released the results of a study measuring what motivates a customer to give their email address.
67% gave out email to receive discounts and promotions
55% gave out email in return for a freebie
50% gave out email to be informed of upcoming sales
45% gave out email to be updated on upcoming products
33% gave out email to gain access to exclusive content
29% were motivated by the promise of fun and entertainment
28% wanted to receive more information on products and services
28% said “to keep informed”
22% wanted to stay abreast of topics the business specialized in
17% gave out their email on a recommendation
14% want to interact with the sender
11% subscribe to show their support
Are you motivating your customers the right way?
I recently had the honor of presenting a case study to the executive management team from Wegmans. For those not familiar, Wegmans is the pinnacle of grocery shopping, having created a shopping experience unlike any other.
People leaving the Rochester area actually include Wegmans as a must-have when deciding where to move.
The case study presented include some of the online technology solutions and social media guidelines I created for Auction Direct USA. Regardless of the market segment, basic underlying tenets can be applied to creating and managing a successful online campaign.
Create A Unique Online Experience
Create a Continuous Improvement Process
Create Metrics to Measure Performance & Ensure Growth
Create a Social Media Presence with Specific Objectives
What has helped improve your online presence?
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