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Marketing Lessons From Apples iPod
Apple Computer just announced that their earnings from the last quarter more than quadrupled mainly due to robust holiday sales of the iPod digital music player. More than 10 million iPods have been sold since it was introduced in 2001. There are some important marketing lessons to be learned from all this. First of all, Apple has created a product for a hungry market that has the financial means to purchase it even with the relatively high price point. If you find a hot and hungry market, create a product for it and you are almost guaranteed to succeed. Lesson #1: Find a hot and hungry market Ever since the introduction of the MP3 file format, we have seen the popularity of converting songs from a CD so that they can be stored on the computer. Even the Napster episode showed us that there is a huge market for a device like the iPod. Here's the summary of the first lesson - don't sell shovels to fishermen and fishing poles to gold miners. Rather, sell the shovels to gold miners and the fishing poles to fishermen. Create a product that already has an existing market. Lesson #2: Create different versions Now Apple just announced the introduction of the iPod Shuffle - a lower-priced version of the iPod with flash memory instead of hard drive storage. This strategy is called versioning. First create a product that sells. Then create another version of the product for a different market segment. In this case, Apple first came up with a more expensive product and followed it up with a cheaper product. Lesson #3: Create the halo effect The halo effect is essentially this: increasing sales of one popular product will generate more sales for your other existing products. In this case, the tremendous popularity of the iPod has created enough buzz that more people are buying Macs. In the past, Macs have made inroads only to a small segment of the market. But now, we're likely to see Apple increase its market share of personal computers in the months to come. So whatever you are selling, there are definitely some general marketing lessons to be learned from the success of the iPod. Think about it the next time you use your iPod. Hock Ng is the editor of The Marketing Tools Review, an online newsletter highlighting the latest marketing tools and strategies, especially for internet marketers. To find out more, visit: http://www.marketing-tools-review.com
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If you belong to a large corporation, you were probably issued business cards as a matter of course, almost as if it was a company perk. If you are in a small or home-based business, chances are you, personally, made the effort to get business cards, which entailed design, print and distribution. So if you went to all of the trouble of acquiring them, you should use them to your advantage. Here are a few tried and true rules for marketing with your card. 1. Never leave home without the cards. I have stopped for coffee already and had someone ask me for a card because they saw my car sign as I pulled into the local coffee shop lot. If you want people to discredit you as a businessperson, all you have to do is say "Oh sorry I forgot my cards today." I have even been to trade shows and fellow exhibitors were walking around without cards. You have not only lost an immediate opportunity to market your business, but you look like an amateur who doesn't deserve the business. 2. Is the information correct? The reality is that sometimes we change our contact information. If you know that there will be changes in the near future, then limit the number of cards you have printed. Do not, scribble out and hand write information on your card. Back to "Can anyone say amateur?" I said that to someone once and his reply was, "yes but business cards are expensive." That says two things to me: 1) he didn't shop around for a good price and 2) AMATEUR! The idea is to attract business not scare it away. 3. Does the card say what you want it to say? What message are you trying to get across? When designing a business card, think about the placement of information on the card. Is the key information in a prominent place on the card? Does the design work with the rest of your company image? Your business card should be an extension of your company just like your logo, stationery, checks, signage, website and more. They should all get across the same message and design. 4. Can prospective clients contact you easily with the information provided on your card? This is a big one! Is your website up to date? Do you check your email at least once a day? (and respond!) Is your email address professional (not mycompany@genericfreeemail.com) Is your voice mail message clear, concise and professional? In this day of technology everyone assumes you must have email and a website for your business to be successful. This is not necessarily true. If you do not conduct business via email or internet then do not put that information on your card. No matter what you use, the key is to be accessible. 5. Are you marketing with your business card? Keeping them in your pocket is a waste of time and money. Be clear about who your target client is. When you see an opportunity slip in your business card. Do not be rude and pushy, but confident that the person could benefit from your services. If you are not sure that your business card is getting you where you want, market test it. Give it to some friends and colleagues and ask them for their opinions. If your friends are not going to be honest with you, then try "strangers." At the next event you attend ask some people what they think of your design. Want To Impress Customers, Win Clients and Influence People? Remember the baseball cards kids traded while chewing their way through kilos of noxious bubblegum, all for about a nickle a pack? No? Then ask your Dad. Are you familiar with the latest digital CD Cardz that look like traditional sports trading cards and play interactive video, triva, bios, stats, music, as well as desktop goodies? No? Then ask your kid. Seriously, my point is that times are changing and you no longer have to feel that you are either a stereotypical blue collar worker or a red necked Luddite. The truth is, you too can jump on the multimedia gravy train ? (just ask for 1st class compartment Serious) and utilize these cool mediums within your corporate environment. Over a career year, you probably hand out small forests of business cards with merely your contact information printed on them right? So what if you were to hand out a business card-sized CD-Rom instead, that not only had your contact information on it, but held your company website or a pertinent presentation, video, music, a free corporate screen saver etc, all hyperlinking to your on line site too? So we are talking a talking business card and there are two routes to take. If you want professional help in creating the all singing and dancing marketing tool, come to us at http://www.serious.com, where we will hold your hand and do the work for you. However in truth this is only viable for larger orders of cardz and you might well be a small business or a freelancer with no need for huge quantities, but yet still want to make a lasting impression. If this is the case, then you can buy our transparent blank 50 MB CD-R cardz from us and create your own! These come in starter packs of 10, with a label applicator, label and presentation software, including web site templates and there are also refill packs available. How to Successfully Promote your Business to an International Audience Breaking into the international marketplace can catapult a company into increased profitability and growth more rapidly than when selling to a domestic market. Mobile Marketing a New Age Strategy More and more companies seem to be looking for new and innovative ways to market their products. Overlooking most of the traditional marketing techniques, more companies are pioneering the relatively new mobile marketing campaign. Mobile event trailers and vehicle graphic wraps are bringing the products directly to the consumers. With an array of games, giveaways, contests and twenty-five foot product shots surrounding and engaging the consumer, it's hard to see why this form of marketing is not more widely used.
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