The results of a survey conducted by IBM on 28,000 people in 15 countries showed that people are much more willing to share personal information if they believe in return they will get a more personalized shopping experience.
People are willing to divulge more about themselves with their favorite merchants, from their food allergies to their home addresses. This survey’s conclusions were met with pleasure by the business world as companies are constantly looking for ways to target the perfect demographic of shoppers with their latest creations.
“They are willing to share information if there is perceived benefit,” said Jill Puleri, global retail leader of IBM’s global business services. “It doesn’t have to be monetary benefit.”
There is still a certain hesitation from consumers all over the world about giving their personal financial information, like their incomes; but other private information is almost there for the asking.
One example is that about 75% of the people in the survey were ready to reveal details about how they use media such as television, like which TV shows that watch. A similar number had no problems telling what ethnic group they were members of.
A somewhat smaller group, 61% were comfortable sharing their names and addresses with retailers. For 59% of the people questioned it was not a problem to describe lifestyle-related information such as how many cars they own, if they live in a new home, or if they had just had a child.
“These are things that I think are pretty important to a retailer,” Puleri said, adding that the change in shopper behavior was phenomenal.
“We have always thought the consumer was pretty guarded with their information,” Puleri added.
Omnicom Group Inc. (OMC) supplies an amazing variety of advertising, marketing and corporate communications services around the world. Omnicom provides services in media advertising, public relations management, customer relationship management and specially communications. The company was founded in 1944 and has 65,000 employees working on 5 continents. Its profit was approximately 7 percent of revenues or $827 million in 2010.
What I like about this company is that its a specialist company. It has taken the areas of marketing and communications and has developed as many of those areas as possible. The fact that it performs marketing work in many countries and cultures around the world testifies to its flexibility and creativity.
The company’s stock is selling at $41.15 which is below its 200 day moving average of $44.41 but above its 50 day moving average of $39.01. Omnicom stock dropped in August from $48 to $36 with the market and is now on its way back up.
Some of Omnicom’s up and coming managers are: Janet Riccio; Bruce Redditt and Asit Mehra.
As with all investment decisions, the stock should be investigated thoroughly before purchase.
Since Japan’s disaster a few months ago, while the main aim is for the country to recover as painlessly as possible, on the sidelines it seems there has been a lot of rethinking taking place vis-à-vis marketing directions. It seems like – perhaps in the aftermath and because of the tsunami – people’s perceptions (and thus desires) are changing and so marketing techniques need to adapt to this. In a study entitled ‘Fukkatsu: Japan Rebuilds,’ by the end of last month, 77 percent of Japanese claimed they were “actively seeking out brands they believe are helping recovery of the country and personal stability.” In addition, the study showed how the Japanese are becoming more eco-conscious following the disaster with 75 percent using less electricity; 72 percent making greater attempts at water conservation and 68 percent in general seeking out “greener alternatives to everyday consumption.”
Bigger Japanese Picture
There is generally more contemplation going on it seems. Individuals and the private sector are taking more responsibility for the country’s recovery, as opposed to just relying on a “government that is increasingly seen as not showing leadership.” 93 percent of respondents said that they “just want a more stable life” so it seems that is the motivating factor. There are more bikers now as people become concerned about shortages in gas and price escalations with potential power shortages.
Better Booming Business
On the other hand there has been some good news for businesses following the disaster. Since the Japanese are a big nation of train commuters, businesses are now honing in on this and using the platform for a way to go shopping. Until recently, there were just some eateries around, but it now appears that “post-earthquake, we have seen that all shopping trips are shorter and more directed, and these ‘railway malls’ make that so much easier.”
Brick and Virtual Shopping
This has led to increase in brick and virtual shopping as a way of comparing prices due also to the increased use of mobile phones as shopping aids. The Japanese are also engaging now more in “embarrassment shopping” which is when you check out products to determine their social acceptability levels through mobile services and then decide whether or not to purchase them in the “brick.” Since early March, Japan has seen an increase of around 20 percent of online shopping.
Direct Consumer Involvement
It also seems from the article that in general the Japanese average man on the street wants to be more involved with 60 percent of respondents claiming they want “to be part of a shared process n product and service development.” They are also more aware of “corporate statements and are digging deeper into what goods and services offer.”
Apart from being good hockey players, the Canucks seem to have another skill up their proverbial sleeve. According to those in the know, in the last few years the team has become a “marketing juggernaut, the envy of virtually every other franchise in the National Hockey League.” So what exactly has their (marketing) tactic been? The team has tons of corporate sponsors; increasing merchandising sales and in terms of their sporting activity popularity, every ticket to a Rogers Arena game has been sold since November 2002, rendering it “the longest such streak in the NHL.” In the last five years it is thus difficult to come up with any other franchise that can beat this. Indeed, they could even go so far as becoming America’s third national team, together with the Canadiens and Toronto Maple Leafs. Outside Vancouver, you can see more and more Canucks jerseys in the stands, which was “unheard of” until recently. According to the team’s COO Victor de Bonis, all of this has rendered being a Canucks fan “cool.” For de Bonis, this is even nicer since when he joined the team more than 17 years ago, it was just before it lost seven games to the NY Rangers in the 2004 Stanley Cup Final. What ensued was not pretty for the team, which witnessed “floundering players,” and increasing frustration from supporters.
Bad Times for Canucks
So challenging were these times that de Bonis points out that at some points “it wasn’t even certain the team would remain in Vancouver.” But once the team started doing better, its marketing efforts followed suit with increased community outreach, coining the slogan, ‘We Are All Canucks.’ The team uniform returned to its traditional blue and green hue but with an added “sleek, classic look that retained the killer whale orca as its chief logo.” In this year’s playoffs merchandise sales have further increased with the Canucks’ ‘problem’ now being keeping up with inventory! Social media is big – over two million website hits recorded last month – which suggests how the Canucks are also being able to tap into the younger generation of potential fans.
Secret to Success?
So what has been the secret to the team’s marketing success? One view is “superb brand management,’ which began with the commitment to their slogan since many other teams change their slogans way too quickly. “The Canucks stuck with what they had, and it’s resonating even more, as their support increases during the playoffs.” And how does this translate financially? Pretty well apparently ,with predictions of their gross monies ranging from $30-45m in 2011. Perhaps we can all take a few marketing lessons from the Canucks!
The truth is, a marketing gimmick like that can really only be done once. And that time it was done right. One cannot possibly try to duplicate the famous – or even infamous – Hollywood sign. And that may just be one reason why there has been so much controversy surrounding the Wellywood sign. It has been said that it is “tacky, try-hard and unoriginal.” Rob Aitken, marketing lecturer at Otago University, however, claimed, “there’s always a risk of being tacky. There's a difference between a brand and others that are just a representation.” He believes the sign is “an example of a strong brand.”
In addition, there’s always the idea that even bad publicity is good publicity. Just because people are making fun of it, does not render it tacky. More likely, Aitken believes, the jokey side “says something about Wellington’s sense of humor.” Nonetheless, Hutt South MP Mr. Mallard criticized it for being “try-had and stupid.” The MP was shocked that it had gotten approval “after so much controversy.” Wellywood isn’t even the city’s real name; it is a nickname for Wellington, a city situated in New Zealand.
On the other hand, in some areas the sign has been welcomed. One “marketing expert is claiming giant signs and gimmicky icons can help a town's reputation.” According to Aitken, it serves a “functional purpose,” just like logos are meant to. If that’s the case, then what is the function? They “make people feel good about where they live, like they belong.” Rather than listen to conflicting opinions, check it out yourself and make your own decision.
Wellington Tourism and Marketing
According to Justin Watson, GM for Marketing at Tourism New Zealand, such an “identifiable landmark” as this, could actually be very helpful in the city’s marketing. He claimed that, “for many regions in New Zealand, innovative icons such as buildings, sculptures, signs and natural features help showcase what is unique about the town or city to international visitors.” There are many different marketing methods and these have to be analyzed and incorporated correctly if one wants to “attract people to particular regions.” Sometimes, it’s an “identifiable landmark” as part of a marketing technique, that can really do the trick.