None of the products or services becomes a commodity until and unless it is advertised properly and strategically positioned.
Strategically positing means projecting the product/services at the right time, right place and for the right set of People.
By right set of people I mean to say that the customer to be targeted should be predefined. The way there is a difference in approach and customer segmentation of low cost airlines and full service provider.
At the right time I mean to say that “It should be the need of the hour”. Long back in US getting a housing loan use to be tedious job and use to take a lot of time at that time CITIBANK entered the business offering home loan processing within one day. With this strategy they were able to capture a major of market share.
Advertisement modes have gone sea through changes within last decade, moving from conventional print and hoardings to electronic media like T.V, Mobiles and internet.
Determining the ROI of advertisement (i.e. how many eyeballs your advertisement has attracted) is always a difficult proposition. Well I said it is difficult not impossible it can be determined both for digital as well as print advertisement some of the modes and there tracking mechanism I have mentioned below
1) Digital Advertisement Eyeballs for digital advertisement can be determined using conventional sampling method or by using the technology of advertisement delivery itself.
a. T.V – With more and more viewers switching to setup boxes it becomes very easy to know as to what the viewer is viewing at a given point of time and for the user not on setup boxes the conventional sampling method can be put in use
b. Email/ Banner advertisement – The advertisement response in an Email campaign can be tracked by the number of mail opened by the recipients, it is also easy to determine the user trends based on the number of mails opened.
Note: It is not the read receipts that are requested from the recipients but it is email opened. Because for emails delivered to yahoo, hotmail and other service provider they do not allow read receipt.
2) Print media
Print media (News paper, magazine, pamphlets distribution, hoardings etc) is the most costly mode of advertisement but effective too. But determining the eyeballs an advertisement has received is being little more difficult than the electronic media. Well again I said more difficult not impossible.
The eyeballs can be determined again by using the conventional sampling methodology but apart from this there is one other way which I think can be put into picture. Well well well I’m not going to disclose it right now; If you want to know it then you need to wait for sometime till I get it patented, but getting a patent is not a easy job requires a lot of investment 10000$ approx so the wait can be longer too.
Happy advertising
Patent Process
http://www.lawfirms.com/documents/Overview%20Patent%20Process%20%20Costs.pdf
Strategically positing means projecting the product/services at the right time, right place and for the right set of People.
By right set of people I mean to say that the customer to be targeted should be predefined. The way there is a difference in approach and customer segmentation of low cost airlines and full service provider.
At the right time I mean to say that “It should be the need of the hour”. Long back in US getting a housing loan use to be tedious job and use to take a lot of time at that time CITIBANK entered the business offering home loan processing within one day. With this strategy they were able to capture a major of market share.
Advertisement modes have gone sea through changes within last decade, moving from conventional print and hoardings to electronic media like T.V, Mobiles and internet.
Determining the ROI of advertisement (i.e. how many eyeballs your advertisement has attracted) is always a difficult proposition. Well I said it is difficult not impossible it can be determined both for digital as well as print advertisement some of the modes and there tracking mechanism I have mentioned below
1) Digital Advertisement Eyeballs for digital advertisement can be determined using conventional sampling method or by using the technology of advertisement delivery itself.
a. T.V – With more and more viewers switching to setup boxes it becomes very easy to know as to what the viewer is viewing at a given point of time and for the user not on setup boxes the conventional sampling method can be put in use
b. Email/ Banner advertisement – The advertisement response in an Email campaign can be tracked by the number of mail opened by the recipients, it is also easy to determine the user trends based on the number of mails opened.
Note: It is not the read receipts that are requested from the recipients but it is email opened. Because for emails delivered to yahoo, hotmail and other service provider they do not allow read receipt.
2) Print media
Print media (News paper, magazine, pamphlets distribution, hoardings etc) is the most costly mode of advertisement but effective too. But determining the eyeballs an advertisement has received is being little more difficult than the electronic media. Well again I said more difficult not impossible.
The eyeballs can be determined again by using the conventional sampling methodology but apart from this there is one other way which I think can be put into picture. Well well well I’m not going to disclose it right now; If you want to know it then you need to wait for sometime till I get it patented, but getting a patent is not a easy job requires a lot of investment 10000$ approx so the wait can be longer too.
Happy advertising
Patent Process
http://www.lawfirms.com/documents/Overview%20Patent%20Process%20%20Costs.pdf
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