Friday, January 29, 2010

Impress, Attract, Convert


One of my core responsibilities at work is to be the “voice” of my company online. I am charged with the provision of a compassionate, friendly, unique, and engaging tone in cyberspace. So, I tweet, post, respond, and manage web-content to educate the public at large. Each day, I send messages through various channels to a loyal group of followers, fans, and friends, who in theory act as brand ambassadors, magnify our messages by repeating what we say to their networks, and ultimately give us their money. My success is measured by impressions, click-thru rates, and the be-all-and-end-all, conversion rates.

Throughout the eight months I have been on the job, my team has seen vast improvements in impressions and click-thru rates. However, the conversion rate statistic is a little harder to rev up. There are slow, incremental improvements, but on the whole we have not cracked the code to securing significant developments on this metric. Basically, we are collecting more and more interested parties, and some of them have latched on, but the majority have turned us down.

Because I am always thinking about parallels between what I do at work and my personal life, I couldn't help but notice how some of our marketing strategies mirror the complications, trials, and victories in the game of dating. In my opinion, I believe finding that inevitable other doesn't always come down to happenstance or fate. Rather, I think there are some business premises that enhance one's chance of making that ultimate conversion from interested party to purchaser.

This past weekend I traveled to my hometown of Pittsburgh, Pennsylvania, to attend a bridal shower and bachelorette party. This was a set of events hosted and attended by my closest high school friends, who are perhaps the best looking group of girls on the planet. Every time we get together, it is like walking onto the set of Sex and the City season 2. They are dressed in the latest looks from Alice and Olivia, TIBI, Theory, Rebecca Taylor, and Dionne Von Furstenberg, with high-end accessories from the likes of Ferragamo, Prada, Gucci, and Louis Vuitton. Everyone’s hair and make-up is understated, yet perfect. They are all naturally slim, out-going, well-spoken and supremely confident.

I had to think diligently about which party dress to pull from my costume closet as I packed last Friday, so I would be prepared to enter a Saturday luncheon where I was explicitly told “not to wear jeans!” (I must say I made a very good choice, due to the large number of compliments.) I accentuated the chic dress and the tone of the afternoon with the accessorizing labels of Tory Burch, Cole-Hahn, Movado, and Chanel.

In a room filled with with friends and family members that had already pledged their allegiances to each of us, there wasn’t much selling to do. However, in the evening, when seven girls set out on the town for the bachelorette party, there was a need for differentiation and tasteful promotion to set each of us apart from the next. But how does this happen? How do seven girls with incredible genes, equal access to fantastic wardrobes, and the impeccable ability to blow-dry, apply, and style attract the coveted customer; the one that will last a lifetime?

After studying and practicing marketing and communications principles in school and on the job, I have learned that there are four basic things that any brand can manipulate and massage to make their goods and services more appealing to the consumer. One of those things is promotion. Promotion is all about attracting a buyer and increasing sales through various strategies. In the marketing world these are things like coupons, PR activities, competitions, displays, advertising campaigns, and loyalty incentive programs. For the individual, promotional activities include knowing what's best about you and finding ways to get the message out. Self-promotion is about telling your story visually, verbally, and emotively in a different way from your competitors. For the single girl looking to stand out among a bevy of beauties, there are key learnings from a successful campaign's promotional activities, that can enhance how she steps out on the town.

First, play up your most unique and amazing asset, and do it in an original way. Though women are made up of the same basic parts, there are some parts that look best on you, and other parts that look better on someone else. In MBA school, we talked a lot about "sustainable competitive advantage." Every successful company has achieved excellence through a lasting differentiating factor that they then promote to their consumers. It's the company with a focus and an investment in that focus that makes an impression. It's the company that tries to be everything to everyone that fails. Instead of following the trending topic, wearing a common look, over applying or enhancing; Try picking one part of yourself that you are proud of - make a splash with it, and then dim the less interesting parts. Along with this, try playing up your chosen asset in a unique way. For instance, if you've got a great neckline and shoulders, own the off the shoulder look. Make this a standard look that people will always associate with you. YOU are the girl with the elegant shoulders and neckline. This comment may be more or less latent to a guy, but your consistent, confident look comes with a certain feeling and memory attached to it.

Second, find and know your brand essence. As I mentioned, on the outside, we are basically equipped with a set of parts that make us blend together. Though we may have great red hair that makes us stand out in a sea of blonds, there is something else that guys can pick up on a mile away. That is our confidence, which is made up of our internal values, talents, character, and pride in all of these. This is our brand essence and it should be brought to the forefront on all occasions. If you don't know or can't find an underlying, personal essence to your outward appearance, you will just blend in among the competition. Stand up straight, SMILE, laugh heartily, be genuine, gesticulate, and love the moment you are experiencing. Everyone wants to be part of the good time - that good time should be you.

Just like a fast food hamburger restaurant, we all have the same tools to make us the better burger joint. The restaurant can dress up the burger with lettuce, pickles, onions and special sauce, but if it doesn’t associate that amazing look and taste with something bigger and more emotive, than the consumer is not going to become attached to that product. As women, we have the same access at all price-points to make-up, clothes (and generally speaking guys can’t tell the difference between the cheap and expensive stuff), diets, and hair-care techniques. We all have the ability to look great, but if your potential consumer can't see something more than a cliche, he will lose interest.

Third and finally, you can't just shout your message to a captive audience. Today, a guy's attention span is shorter than ever, and in order to captivate, you have to engage in a dialogue - to be a good promoter, you have to be a good listener. You have to know what the consumer wants, then hone your messaging to his cues. The reason that marketers have gone on-line and have started to speak to consumers on their agenda, and in their time and space, is because shouting through a box to uninterested viewers no longer works. People want to know that companies care about their individuality. They want brands to interact with them and communicate directly to them. When you enter a bar, a party, or even the grocery store, there is always an opportunity to tell your story and promote yourself, but most times it helps to know your target audience's story first.

There are so many other aspects of promotion to touch on, but these are biggies. And, there's more where this came from. In the meantime, this is a start to help you improve your conversion rate. The key take-away: Focus on strategic self-promotion when you play the dating game - strive for quality impressions, achieve higher click-thru rates, and aim for the conversion of a browser into a purchaser.

Lo

1 comment:

  1. Hey Lauren-Found your blog from your FB profile. Read a couple of your posts and added to my Google Reader. Nice writing! First, I'll add that not all guy's have short attention spans--after all, I did make it to the end of your post! :)

    I agree the conversion rate of social media efforts is going to be a challenging one to measure. Sometimes I wonder if it has be to measured as part of a larger campaign (including direct mail, website, volunteering, public events like Glamorama(?) or other marcomm channels).

    People have told me that a brand or product often makes 7 impressions before convincing a consumer to buy. The more times a person hears about that product, feels more connected, or learns more of the story, the more devoted he/she becomes. For me, one company that does a good job in getting me to part with my money is Bonobos (a startup men's pants company). I shop when things are discounted or at outlet stores. So last year, when I bought a pair of $118 corduroy pants from Bonobos, that was almost an absurd price for me. (Contrast that to Martin & Osa corduroys I found for $19 at Filene's.) But before purchasing, I visited the website a couple times, read testimonials, read the blog, learned it was a startup by two Stanford MBA students, American-made product, first-rate customer service, unique, etc. etc. Each of those interactions brought me closer to the shopping cart until finally I made a commitment to buy.

    While a bad first impression can be the end of it, a good first impression doesn't necessarily imply a royal flush. So, I'd add on to your list that a strong loyalty/commitment is shaped from many conversations over a period of time and like you mentioned, being dedicated and consistent with your unique message and brand essence/personality is key. See you in a revolving door someday this week?

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