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New Marketing Techniques—Changing the Game
By: Donna C. Barson
Posted: September 3, 2008, from the September 2006 issue of GCI Magazine.
page 3 of 3
Major corporations already are moving into this field, with all manner of imaginative scenarios in which their products play key roles. A super hero hair gel? It can’t be any odder than a guy flying around in blue tights with a big “S” on his chest.
Mobile Money Off
The heralding of mobile couponing has been heard for so long that it’s hard to believe it will ever happen, but it really may be coming to a screen near you soon. Major marketers such as Hollywood Video, Bath & Body Works and 1-800-Flowers are testing mobile couponing. It’s immediate and linked to an event. For example, a coupon for a specific product hits the screen of consumers’ cell phones as they’re walking past a particular retailer.
According to some reports, mobile coupon redemption rates are more than 20%. This is phenomenal compared to the rather low redemption rate of traditional direct mailing of coupons. Mobile couponing has been so impressive that retail giants such as Target and Best Buy are expected to enter the field this upcoming holiday season.
Have You Heard … ?
Possibly the oldest form of marketing is word-of-mouth. Interestingly, with the burgeoning popularity of such Internet sites as Facebook, Youtube and MySpace, word-of-mouth also belongs in an article about new types of marketing. The Internet finally is becoming what you always heard it would be—an interactive community in which people continuously communicate with each other. Now, the Internet provides even more fertile ground for the forward-thinking marketer. One mention of a product may quickly spread through the whole site’s community and beyond. There are personal care companies currently utilizing people specifically trained to spread the word about products. In the future, such electronic word-of-mouth endeavors could certainly play a significant role in marketing campaigns.