Eric’s Final Post

Thanks for stopping by socialmba.org. We’ve had fun and learned a lot of things while creating blog posts for the site, all in the name of higher education. Oh, and competition – we can’t forget about competition.

There are a lot of posts from Team Medellin on the blog site, so I hope you’ll take some time to look through some of my teammates’ posts. I’ve copied links for a few of the key posts below.

Eric

Assignment #1: Comment on a current event

The post that kicked off our team’s efforts: http://bit.ly/29HdcVW

My first post for the team: http://bit.ly/29HD453

Assignment #2: Find a marketing blog post, comment on the post, and then contact the authors

As a team, we were trying to figure out who was going to post what and when. Here’s our post for the second assignment: http://bit.ly/29I7Yvx

Assignment #3: type some words into Google search, then answer a question that is comprised of search results.

In class, we analyzed a case on direct marketing of pharmaceuticals, so I decided to do more research about the subject. I summarized what I found – and there is a lot more information on the topic – in this post: http://bit.ly/2aakwKU

 

The 7 Deadly Sins of Content Marketing Strategy

In a world where the importance of content marketing is rapidly growing, marketers must beware of the 7 deadly sins…

mktgpic7deadlysins

 

  1. You only need to be on social media if your customers are on social media. FALSE!

You don’t have to be on every social network, but you should be on the ones that will help grow your business.  Your current customers may not be on social media, but chances are your future customers will be if you have a strong inbound marketing strategy.

  1. Want more exposure on Twitter? Use as many hashtags as you can fit. FALSE!

Less is more.  Tweets with only one or two hashtags receive 21% higher engagement than tweets with three or more hashtags.

  1. You don’t need to be on Pinterest unless you’re a B2C brand that sells food or clothing.  FALSE!

B2B brands can utilize Pinterest to share company photos, favorite infographics, user generated pins, and even lead-generating content.

  1. The best way to quickly increase email performance is to buy lists.  FALSE!

Get your email lists organically. They make take longer to generate, but they’ll be significantly more engaged.

  1. Marketing automation will solve all of your email problems.  FALSE!

Automation can help solve email nurturing problems, but not all of them.  If your new leads aren’t becoming customers, take a look at the bigger picture.

  1. The more personalization, the better! FALSE!

Don’t creep out your customers.  Personalization is a good thing, but not when it’s overdone.

  1. If you write it, they will come. FALSE!

There’s tons of content just like yours on the internet.  You need to develop a strategy to push the content in order to attract readers.

Ginny Soskey is the Manager of Content Marketing Strategy for HubSpot’s marketing blog.  Check out more of her helpful marketing tips on her blog or on Twitter.

How Can Consumers Resist the Siren Call of Direct Marketing of Pharmaceuticals?

How Can Consumers Resist the Siren Call of Direct Marketing of Pharmaceuticals?

Background Information

In 1997, the Food and Drug Administration issued guidance that made it easier for pharmaceutical companies to market direct to consumers. Following this guidance, annual spending on direct to consumer marketing exploded, reaching a peak of $5.6 billion dollars in 2006. With a few minutes of contemplation, many of us can identify three or four pharmaceutical marketing campaigns from recent memory.

New Zealand and the United States are the only countries in the world that allow direct marketing of pharmaceuticals to consumers. Both the American Medical Association (AMA) and World Health Organization (WHO) have expressed concerns about direct to consumer marketing.

How Much Is Spent, and What Is Advertised?

Direct to consumer marketing efforts account for approximately 10% of the total dollars spent on advertising and marketing of pharmaceuticals in the U.S. After peaking at $5.6 billion in 2006, pharmaceutical companies $3.4 billion marketing to consumers in 2012. That number increased to $4.53 billion in 2014 and $5.17 billion in 2015. Direct to consumer marketing is a fraction of the total annual spending by pharmaceutical companies.

2012 Pharmaceutical Marketing

While much of the advertising that is purchased is to promote newly-released drugs, some of the advertising is focused on advertising existing drugs that may have expiring patents. All categories of drugs, including new treatments for rare conditions, newer medications for diabetes and hepatitis, allergy medicines, and even “lifestyle enhancement” drugs are advertised.

What Are The Concerns?

In November 2015, the AMA issued a press release calling for a ban on direct to consumer advertising. The AMA cited physician concerns that advertising is driving demand for higher-priced medications despite the clinical effectiveness of less costly alternatives.

6 years earlier, in 2009, the WHO reached a similar conclusion in its call to limit direct to consumer advertising. An additional concern voiced by WHO: “off-label” marketing, where a medication is advertised for treatment of a condition for which the medication was not approved.

Some websites are more critical of direct to consumer advertising. DrugWatch (https://www.drugwatch.com) expressed concerns about dishonest advertising, citing a Pfizer advertisement for Lipitor from 2008 that raised concerns from both the U.S. Congress and WHO for misleading information.

What Can Consumers Do?

Direct to consumer advertising of prescriptions will not be going away, and it is important for consumers to be informed. There are several things that consumers can do to learn more.

First, if you have a medical condition that requires medication for treatment, become informed about your condition and the available treatment options. Online research is the most popular approach, although information from the latest articles and studies may take several months to propagate from paid sources to free sources.

Second, understand the side effects of any medications that you learn about. Also pay attention to drug interactions, since some prescription medications may interact with over-the-counter vitamins and herbal supplements.

Finally, communicate with your doctor, physician’s assistant, or nurse practitioner. If your care provider is prescribing a new drug – particularly a name-brand – ask why your provider is prescribing this drug. For many health conditions, there are usually lower-cost generic medications that are effective.

John Oliver had this to say about pharmaceuticals marketing:

 

When is the last time you went fishing?

When is the last time you went fishing?

9 REASONS YOU NEED MORE FISHING IN YOUR LIFE
How to Reconnect to Your Heart, Your Purpose, and More

Fiahing

Ever since I was a boy, I’ve enjoyed fishing. But the older I get the more I realize I don’t just enjoy it. I really need fishing.
Working full time and studying for my MBA I don’t have the time I would like to follow my passion of fishing. Last year, I was lucky to go with my best friend Steve at our secrete fishing hole right there between Astoria, Oregon and the I-205 bridge, “you didn’t think I would actually tell you where our secrete fishing spot is, did you?” It was fun, restorative, even magical, and oh yeah, we caught a lot of fish in those three days.

Some of my favorite moments in nature have been on the water with a rod and reel. I just love being outside, testing my luck, and hooking my lunch. It might sound like a humble time, but there’s hardly anything better.

“I enjoyed fishing as a boy. Today I don’t just enjoy it. I also really need fishing.”

I’ll be the first to admit it’s not for everyone. But I’ve found even people who come to it late in life love fishing more than most any other hobby. Why? There are a least nine reasons most of us—leaders, entrepreneurs, really anyone—need more fishing in our lives.

  1. It gives you a chance to really detach from your work. I almost totally unplug when I’m fishing. And one of the thing that lets me disconnect is stepping out back and throwing a line in the lake. I get lost in the experience, and work feels a million miles away.
  2. It enables you to shift your focus to the present.The thing about fishing is that you’re doing something—but not much. Whether it’s stringing a hook or casting a line, fishing can draw your mind away from past and future and bring you fully into the present.
  3. It enables you to reconnect with your heart.When we’re anxious or consumed with work, it’s hard to attend to our hearts. At least that’s true for me. But once I get fully present, I start hearing my heart again. Solomon’s advice at the end of Ecclesiastes is that we remember God. For me that’s always easier when I’m fishing. I’m reconnecting with the natural order of things.
  4. It enables you to reconnect with your childhood.When I was younger my dad would take my little Fishing Youngbrother and me to the river to catch trout. I started my daughter out fishing at a young age. We started in the trout ponds where she was fascinated by the experience and into her teens where we now have a natural competition about who is going to catch the biggest or the most fish. It was like reliving part of my childhood. But the fun thing for me is that fishing always helps me reconnect with those years and build a unique bond with my daughter.
  1. It enables quality time with your buddies.I don’t get to see my buddies that often because of work, school, family and life, but I truly cherish doing the thing I love best, outside with my friends while reconnecting with my soul. Once we’re detached from work and more connected to our hearts, I find we usually talk about the things that matter most.
  2. It gives you time to think.What if you’re not with your friends? If you need to get time to think, there’s almost no better place than while fishing. It can be a powerful time for reflection and meditation. When I’m alone by a stream, my mind and body relax, and I’m free to connect ideas, follow random trains of thought, and dream. To clear my mind, reconnect with my soul and really be alive.
  3. It provides an opportunity to put things into perspective.Part of what comes with all that think-time is perspective. When we’re in the thick of life—rushing deadlines, finalizing products, closing sales—it’s easy to lose perspective. But when we’re finally off the treadmill, it’s easy to reconnect with the big picture.
  4. It provides a different set of challenges.We need to be challenged, but if we’re always challenged by the same thing—like work—it can wear us down and burn us out. The great thing about fishing is that it calls on other skills and demands something entirely different from us. We get the satisfaction of rising to the occasion without flexing the same set of muscles.
  5. It provides a singular focal point.Reason No. 9 just sums up the first eight. As Arthur Boers would say, fishing is a focal activity. It “centers, balances, focuses, and orients one’s life.” If you’re feeling distracted, lost, or disconnected from your purpose, fishing is a simple way to get back on track.

I’m not saying fishing will solve all your problems. But it’ll sure take care of a bunch. We already know about the tremendous benefits of being out in nature. Fishing magnifies the experience and the benefits.

Reference:

9 Reasons You Need More Fishing in Your Life. (n.d.). Retrieved July 23, 2016, from http://michaelhyatt.com/more-fishing.html

 

Take a few moments to read some of the other past Blogs from SocialMBAs team Medellin

A Marketer’s Guide to Content Curation

Digital Marketing and the Mobile Platform – It’s Always On

The complete guide to optimizing the content marketing lifecycle

Free From Fear

Elon Musk teases new master plan for Tesla

Google Analytics: How to Know If Your Marketing is Working : Social Media Examiner

Leveling the Paying Field for Track and Field Athletes

5 Ways to Improve Customer Loyalty With Social Media : Social Media Examiner

Equal Pay for Men and Women in 2016? Keep dreaming.

A Marketer’s Guide to Content Curation

Here’s how marketers can get started with content curation to improve lead generation, increase trust, and reduce content development costs.

Here’s how marketers can get started with content curation to improve lead generation, increase trust, and reduce content development costs.

Have you been sold on the benefits of content curation and decided to make it an integral part of your content marketing strategy? Welcome to the club. After all, curation is an excellent way to augment content marketing investments and supplement original content assets. Content curation accelerates marketing initiatives, increases trust, and improves lead generation, while also reducing content development costs.

When making the transition from theory to action, what is required to curate content? There are five key steps for successful content curation:

  1. Identify the topic area
  2. Find relevant sources
  3. Curate assets
  4. Share results
  5. Analyze outcomes

Let’s highlight what each step entails.

1. Identify the Topic Area

First, it is essential to identify a relevant topic area. It should be related to your area of expertise, as well as your target market and value proposition. When identifying the types of content to curate, focus on three perspectives.

  • Audience interest: The best place to start is to consider your audience, and what you consider relevant to meet your customers’ and prospects’ needs.
  • Content: Consider the overall landscape, and make sure there is sufficient third-party content in a topic area to be worth the effort to organize it.
  • Competitor landscape: Consider what your competitors are doing. You want to ensure assets are curated in a relevant area that your audience finds valuable and that competitors have not (yet, or adequately) addressed.

Curation allows anyone to bring in the best content industry experts have to offer. The topic area should be broad enough to encompass a range of perspectives, while also sufficiently focused to address key concerns.

2. Find Relevant Sources

Once the topic is selected, identify relevant and trusted sources as candidates for content curation. Sources can include:

  • Trade publications
  • News sites
  • RSS feeds
  • Industry blogs
  • Electronic journals, and more.

With a well-chosen topic, it should be easy to identify at least a dozen sources by reviewing content you already consume. Be prepared to add new sources, particularly if you are part of a fast-changing marketplace.

Curation exploits the link power of the web, so link to related articles on an ongoing basis. Provide a balanced mix of experts, dissenters, and up-and-comers (different views and perspectives) in order to optimize value for your audience.

3. Curate Assets

Curating entails organizing content assets and adding value to them. Curating content is, by definition, a human process. Think like a librarian when setting up your categories; tag and group assets, and develop indices about the collections.

Remember, unlike physical collections, digital collections can be organized according to multiple criteria. In addition:

  • Be sure to add value to curated collections.
  • Annotate individual items, analyze trends, summarize, ask questions, and provide both insights and guidance.
  • Always attribute sources and provide the links so your audience can easily access them.

Set up a process and task somebody with reviewing sources on a periodic basis—daily or weekly, depending on the frequency of your curated postings. This can be quite simple when using one of the many tools available for automating your curation process. Crowdsourcing may also be relevant. Curation is more efficient and effective when your organization considers it a cross-functional practice instead of the exclusive domain of the marketing department.

4. Share Results

The next step is sharing results with your target audience, utilizing whatever communications channels they prefer. Remember, they have choices. Different segments of any target audience consume content in different ways.

  • Some people go to their inbox first thing in the morning or choose content to read through a newsletter in their spare time.
  • Others rely on Twitter, LinkedIn, or a feed reader to stay abreast of current events.
  • Web sites and microsites that focus on a particular topic are also relevant. Often people will want to browse through entries and summaries to find relevant information.

As a content curator, find which channels best suit your audience’s content consumption habits and preferences. Often it pays to invest in a multi-channel strategy, optimized for the strength of each channel. For instance, trends can be summarized in a tweet, and the audience referred to the complete article on a microsite.

5. Analyze Outcomes

As a content marketing strategy, content curation is unique because it relies on third-party content developed by external parties. As a result, audience behavior is different from traditional online marketing campaigns where all content is consumed within a brand’s online properties.

When it comes to websites and blog posts, it’s still important to track page views and visitor growth to determine the size of your audience and whether it is increasing. But total site visits and length of site visits may be misleading. This is because a few people with a passionate interest are more valuable than many people with a general concern. (highlight to tweet) Similarly, if audience members are clicking through to the third party content, their time onsite does not reflect their actual interest.

Similarly, subscriber growth rates and click-through rates are important metrics for email newsletters. Open rates are less relevant, as they do not capture all activity.

There are many social media metrics to watch, including followers, fan growth, and retweets. These help to gauge popularity. By using these metrics to assess the performance of content curation initiatives, they can be ranked in terms of reach, conversion, and ROI against your specific business goals.

Sourced through Scoop.it from: www.convinceandconvert.com

 

Do’s and Don’ts of Customer Surveys

mktg

Faux Feedback – Are you doing customer surveys wrong? outlines the do’s and don’ts of customer surveys.  Jay Baer, the most retweeted digital marketing expert, outlines the best ways to solicit customer feedback in his current blog post.

Customer surveys provide insight into the minds of the customer that could benefit your business. When is not done well, it might be nothing more than a waste of time and money.

Digital Marketing and the Mobile Platform – It’s Always On

MAO

Digital Marketing trends and the ways in which they are delivered are rapidly proving to be elastic to the success of digital brand recognition. Changing market conditions, multiple marketing channels, and competitive activities produce consumer responses that drive business outcomes literally at the speed of light. A message has to be optimized, syndicated and tagged appropriately, and once the message is put into the market, the outcomes need to be measured, the models validated and course corrections need to be continuous in order to achieve the desired results. But what about the platform or delivery model? A lot of effort goes into the technical aspect of creating the brand story, but one should consider the significant importance of the platform delivery.

In her blog, Nikki Gilliland (@Nikki_Gilliland) talked about current research showing that when it comes to executing a streamlined digital strategy that many are lagging behind in mobile platform delivery which is inhibiting the customer experience.

A short video by Hoppin Online Marketing (@hoppinonline) summarizes the intensity that smart phone mobile devices have in our lives. People don’t wait for the information they need and then go home to look it up on the family PC. Tech users expect to have it at their fingertips when and where they need it. Digital marketing has to be at the cutting edge use of mobile deployment and optimization to leverage today’s smart digital user.


References

  1. Hoppin Online Marketing (2015, February 3).Digital marketing trends of 2015-2016 Retrieved July 17, 2016, from https://www.youtube.com/watch?v=l_Ei7CxXwuo
  2. Gilliland, N. (2016, July 13).Mobile marketing strategy: Four key charts from our latest research. Retrieved July 17, 2016, from https://econsultancy.com/blog/68062-mobile-marketing-strategy-four-key-charts-from-our-latest-research
  3. Nichols, W. (2013, March 1).Advertising Analytics 2.0. Retrieved July 17, 2016, from Marketing, https://hbr.org/2013/03/advertising-analytics-20

The complete guide to optimizing the content marketing lifecycle

Content Marketing has become critical for marketers. Learn how to optimize the Content Marketing Lifecycle to make your content marketing successful.

Content Marketing has become critical for marketers. Learn how to optimize the Content Marketing Lifecycle to make your content marketing successful.

Sourced through Scoop.it from: blog.scoop.it

At times process can be more important than content, however when it comes to marketing, the process of the lifecycle speaks volumes as a hot subject amongst influencers in the marketing space.