Fanminder Blog

It’s Officially Statistically True: Fanminder helps a small business with their #1 issue: Growing revenues.
You can get support for this from a new Infographic released by Intuit:

• #1 thing keeping you up at night: Growing my business

• Hardest part of being a small business in 2010: Losing customers

• #1 New Year’s resolution – Retaining and growing customers

Pew Research published a new report on teens’ use of texting, with some interesting stats:

• The frequency with which teens text has overtaken every other form of interaction, including instant messaging and talking face-to-face
• Three-quarters of teens now own cell phones, up from 45 percent in 2004.
• Of those who own cell phones, 88 percent text, up from just over half in 2006.
• Many parents limit cell phone use and 48 percent said they use it to monitor their kids’ whereabouts — either by using GPS technology or calling the child to check in.

The Wall Street Journal published an article on smart phone applications making use of your location to serve you ads from local businesses.

Companies profiled include FourSquare, Loopt, and others but I wonder: Do consumers want their day-day experience interrupted by a steady barrage of messages blurping, tweeting, and chirping “Ooooh, ooooh! come visit me, come visit me!” I think texting is different, and I think these newer forms of interruptive marketing are destined for significant revisions before they become adopted.

In one sense, all startups are subject to continuous feedback and change. But the core of these services seems to smack of too much “merchant benefit” to the detriment of consumers. Time will tell.

Today I had two meetings with small business owners where I learned a lot about persistence, the benefits of our service and being a small business owner in general.

The Optometrist

I took our local Optometrist out to lunch (well, he wound up paying for which this author is indebted . The Doctor happens to be the President of the local Chamber of Commerce too. What I learned:

• He’s been practicing in the community since 1982. That’s 28 years doing the same thing, year after year. And you were bored being in your job for the last two years! hah! This doctor has now bought out two of his partners over the years, and is expanding into offering new medical services and finding new patients over the internet. He’s a role model for me for keeping it alive day after day.
• When I pressed him whether he feels overwhelmed with all the online marketing and social media options out there, he just shrugged and said “You gotta keep up with it. When I sell my practice five or so years from now, I want it to be valuable, and that means I’m current with modern ways of doing business.” The reason I love this is because I went in with a preconceived notion of how overwhelmed businesses feel, and I was wrong in this case.
• He loved our upcoming features (shhh… it’s a secret) and told me stories of the labor his office manager goes through (his wife) to keep up with customers. He’ll beta these new features when ready.

The Car Dealership CEO and his Online Marketing Guru

Earlier in the day I visited with the owner of one of the largest auto dealerships in the Bay Area. Besides being an incredibly gracious pair of hosts, these gentlemen are super sharp about their business. I learned:

• Don’t assume! I went in assuming they wanted to use us for communicating with their employees and learned instead of other reasons to make use of Fanminder.
• The owner recently had a positive texting experience and I think this opened his mind to the possibilities. I guess there’s nothing like experiencing something for yourself to get the benefits first hand. Must….remember…that.
• The power of trust in business is alive and kickin! Fanminder is kickin ass these days yet compared to this business, we’re mousenuts (yes, this is one of my favorite terms.) The owner could call up any one of our larger competitors and get them in the door NOW but chooses Fanminder for the relationship we’re creating with each interaction. He’s humble as can be and I can only hope our relationship will be as strong as these early interactions (fingers crossed!)

Marketing return on investment (ROI) is the amount of sales achieved for every dollar spent on marketing/advertising. In today’s tough economy, measuring this return is vital to ensure that ad dollars are allocated to those activities that best maximize sales. The steps necessary to achieve the greatest return differ across brands, and an evolving tailored strategy is necessary.

Eight guiding principles can help marketers maximize ROI.

1. Consider both the short- and long-term sales impact of marketing programs.  An advertising campaign is only effective in building sales if the right marketing tactic is employed. Online campaigns and co-op programs are effective in boosting short-terms sales, while television and PR remain key to ensuring long-term brand loyalty.

2. Choose the right portals and campaigns for online success. The Internet is a powerful medium that can reach billions of consumers. To capitalize on its reach, you need to understand the percentage of the target market using the web, how they use it and for how long. Then tailor the campaign accordingly.

3. Influence target groups with magazine advertising. Unlike daily newspapers that have a broad reader base, magazines have a clearly segmented target group. In addition, newspapers are disposable, whereas magazines are read after their published date.

Read the Full Article.