User Generated Advertising
In the beginning of class Mike touched on user generated advertising. He used the example of Lay’s Do Us a Flavor campaign they started a couple of years ago. Each year 4 new ideas for a flavor of chips come out and we all vote on one. Last year I remember cappuccino, bacon mac n’ cheese, wasabi ginger, and chicken and waffles were the flavors. This year the flavors are Southern Biscuits and Gravy, New York Reuben, Greektown Gyro, and my personal favorite, West Coast Truffle Fries. This is a very memorable campaign. I wanted to look further into what other user generated advertising there was. I found out that the Doritos commercials we see during the super bowl are actually completely created and filmed by customers in the community. The winning commercial gets a million dollars, their ad shown during the super bowl, and a job at universal studios to help produce films. This was enough incentive to have 6,100 applicants send in a 30 second commercial to Dorito’s for a chance to have it aired during the super bowl. Another example I found was that Starbucks did a white cup contest where they served their drinks in all white cups with only the Starbucks logo on it. Then customers were encouraged to draw a design on the cup and the winning design would be featured on the new limited edition cups they were giving out. The website I have attached has 10 great examples of user generated advertising that really worked, and I encourage everyone to check it out.
Mike touched on segmenting, targeting, and positioning (STP) today. I have learned a lot about this in his marketing classes, but I think it is important to go over multiple times because it is so critical to creating and running a successful business. I found an excellent video on youtube about how McDonalds facilitates their STP processes. The video explains that most companies have brand managers for each product, where McDonalds actually has brand managers based on the market segments that have determined. So instead of having a Big Mac brand manager they have a director of young adults, a director or women and mothers, a director of African American consumers, etc. McDonalds is collecting data on the demographics that they have segmented and are finding new ways to target each one of those demographics separately. McDonald’s has taken a different approach to creating their brand and clearly it has worked because they currently have over 35,000 restaurants in 118 countries which serve an average of about 68 million customers each day. That is impressive!
Creating a Great Marketing Plan
For my part of our group project I have to create a marketing plan for our business that we made up. I wanted to know more about how to create a successful marketing plan, so I looked it up on Google. I saw an article on Forbes website called, “Tips for Building a Strong Content Marketing Plan for 2014.” Forbes has always been a great reliable website for me because their articles really take what we are learning in school and apply it to the real world. They have a lot of great information on their site for young entrepreneurs like me. Some of the tips that the website gave seem like basic knowledge, but the more I think about it, I don’t know if I would have ever thought about doing some of these things. The first thing they explain is to create a content calendar. On this calendar write down the big events that will be going on this year. Next figure out release dates for your marketing campaigns for each event. Next the article talks about collaboration tools. This sounds like big words, but it really just means that files can be uploaded and shared, tasks can be marked as complete, and workers can communicate over an interface similar to the social media tools workers use every day. Programs like this are quite inexpensive and save you a lot of time. Next the article explains to use imagery, not just written content in the marketing plan. This will keep people interested in the plan. The last tip that the article gave was to measure your results through data analytics. This is just a brief overview of everything. If you would like to read more into it, please click on the link above.