advertising

TOP 3 WAYS TO MAKE THE FREEMIUM MODEL WORK FOR YOU

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Modern shoppers are bombarded with advertisements. In our highly connected, digital age, there is no end in sight to the range of products, services, and brands that a consumer can purchase from and support. But with so many ads and brands competing for consumer’s limited attention and discretionary income, how can a company find new consumers, and get them hooked on their products or services? Finding qualified leads isn’t enough. You need to find a way to compel those leads to make a purchase. What’s one of the quickest ways to do that? The freemium model, and we’ll cover the top three ways the freemium model can work for your business.

With profit margins getting tighter in many industries, the freemium model does have a few downsides. But for subscription-based service models, going freemium can be an excellent way to build your brand awareness, convert leads to sales, and increase your profits.

1. The freemium model cuts through the noise.

The average consumer sees 5,000 product ads a day. Offering a compelling freemium service for a trial period is a quick and easy way to cut through the noise and the competition online. But to make this work for your business, you need to offer an obvious value to the customer with your freemium versus paid subscription model.  

Spotify does a great job here. They offer a freemium, but users have to listen to commercials for one thing, and they can’t download songs to a multitude of devices with Spotify freemium. Upgrading to the paid option though gives them the ability to skip songs, skip commercials, and download their playlists to any mobile device.

What you need to do is offer the customer an obvious value when they upgrade to make freemium work for you. When the customer sees how valuable your service is with freemium, but how much better it can be with the upgrade, the chances of them converting to a paid customer are much higher.

2. Nurture the freemium leads.

In most cases, it takes consumers a while to decide to make a purchase, and most leads are not ready to buy straight away. That’s why nurturing your freemium leads is crucial to getting this model to work for your business. Think about your sales funnel, and creating lead nurturing email campaigns to expose the leads to your brand and compel them to make a purchase.

3. Hold back on core functions.

You don’t want to give away too much, too soon with the freemium model if you want it to lead to future sales. While the freemium model can work if you’re strategic about it, not every freemium subscriber is going to convert. Your freemium people still have value as potential brand advocates. The trick here is not to give away for free too many of your company’s core functions. Doing so will cause the freemium model to eat into your profit margins, and it won’t work.

The freemium model isn’t dead, and subscription-based companies can make it work for them if they keep these three tips in mind when creating a freemium model as part of their marketing campaigns.

HOW WE'RE HELPING PEPSICO "CLOSE THE CROP GAP"

Every year we find ourselves getting involved with a purpose-driven initiative that warms our hearts. This year we worked with PepsiCo to introduce a campaign to create awareness about issues facing women in Agriculture. This digital-first storytelling initiative called “Closing The Crop Gap” takes you along the crop gap journey to see how we are working to solve it, with an innovative approach.

The Crop Gap is representative of the unequal access women face in agriculture-dependent economies. Women small-scale producers play a vital role in global food production, yet they struggle to secure land titles, have limited access to agricultural extension services, and rarely attain the tools and information they need to improve crop production.

Through PepsiCo’s partnership with CARE they're investing in women small-scale producers to give them access to the resources, support, information, skills andconfidence they need to invest in their farms, families and communities. As a result, women boost production, generate income to send their children to school, feed their families more nutritious meals, expand their business to employ others and build savings to help through tough times.

Through this campaign, we hope to create awareness about The Crop Gap and inspire people to get involved. 

So, please feel free to take a tour through the website we created, "meet" the filmmakers who are capturing these women's stories, and get involved if so inclined.

SHOULD BRANDS FORGET ABOUT RETAIL ALTOGETHER?

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Fighting for retail space is an ongoing and frustrating battle. Not only is it difficult to corner a sizable market share with retail, but retail also comes with associated costs that can be prohibitive for many brands. Fortunately, the online retail space brings some democratization to the sales process. But more than anything, the consumer experience is king, and meeting customer demands is what will make a company successful. The rise of the internet and eCommerce have fundamentally changed the way people shop. And with the increase in online shopping, consumer expectations have also changed. Brands should forget about retail altogether and focus on the online shopping experience if they want to stay competitive. Here are three reasons why:

Reason #1: People want instant gratification.
With the rise in internet shopping and smartphone technology, people have a ‘need it now’ mentality. It’s true that consumers aren’t as patient as they were a generation ago. Consumers expect that they should be able to find a product, buy the product, and have it shipped to their house within a few minutes. They don’t want to drive to a store. They don’t want to fight crowds or deal with the usual hassles associated with a traditional retail shopping experience. If brands want to stay competitive, then they will need to meet the customer’s need for instant gratification.

Reason #2: Brands need to shift their dollars to online marketing techniques.
With the rise in online shopping, brands would be well served to switch up their marketing techniques. Going forward, brands will need to devote more of their marketing dollars to online advertising. Online advertising, if done properly, will give brands some of the best ROI available. For example, the average Google AdWords campaign will give a business a 200% ROI.

Reason #3: Amazon has set consumer expectations high.
Amazon is one of the biggest reasons why consumer tastes have changed so drastically in recent years. More and more, consumers want the type of online shopping experience that Amazon can give them:

  • Instant gratification

  • Fast shipping

  • The ability to quickly and easily comparison shop via reviews

  • A variety of choices

Amazon is a multi-billion dollar company, so how can smaller brands even hope to compete with the online retail giant? It’s not as hard as some may think. It’s now easier and more affordable than ever for smaller companies to leverage effective digital marketing strategies.

Amazon has forever changed the retail experience for consumers. In the future, it’s going to be harder and harder to fight for a dwindling amount of retail space. Businesses will need to craft digital marketing strategies to stay competitive. By leveraging the power of Facebook, Instagram, Google, and other online advertising strategies, companies will be able to capture more market share in their industries.

It’s never too late to get started with an effective online marketing strategy. If you’re ready to ditch retail and rebrand your business for the future of online shopping, then you’ll need to consider digital marketing techniques to reach your ideal customer.

WHY GREAT CREATIVE REQUIRES A HUMAN TOUCH

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In a post GDPR world, brands, agencies, and publishers are starting to take advantage of data-driven technology. While an ad's visibility is a crucial element of effective marketing, it’s not the holy grail that many businesses think it is. With the abundance of easily accessible data on their hands, brands and digital marketers have gotten away from creating engaging ads. In essence, they’ve forgotten about the importance of resonating with their viewers.

In today’s world, consumers are becoming savvier to marketing techniques and crave creative ads that resonate with them on a human level. Data and visibility don’t speak to your customers. If you want to differentiate yourself from the competition, your ad campaigns need to include an engaging, creative element. .

To what extent does visibility matter? 

An ads visibility only matters if the person seeing it is a qualified target. If you sell winter clothing, you don’t want your ad displaying to people who live on the equator. But, if you get your ad in front of a targeted member of your ideal audience, if the ad doesn’t have an engaging, creative element, it will fall flat.  

So, visibility is only one element of your campaign’s effectiveness, but many brands will make the mistake of thinking that visibility is the only means to an end. The right people can see your ad, but if those people don’t find the ad engaging, the campaign has failed. The ad’s reach isn’t enough to drive the campaign's effectiveness. You must provide a creative element that encourages the viewer to interact with the ad and take the desired action.

How can you increase the creative element of an ad campaign?

The most effective and engaging ads have the brand’s objective at their core. For an ad to reach maximum effectiveness, you need in-depth knowledge of your target audience to get the ad to resonate with them. If the goal with your ad is to drive sales, that needs to be the focus of your campaign. Don’t do both. 

While technology is becoming more accessible and sophisticated, brands don’t want to make the mistake of pigeonholing their ad into the latest digital trend because everyone else is doing it. Data is crucial to ensuring that your target market is reached. And ad technology enables it to be delivered as quickly and accurately as possible. But to drive engagement, your ad needs to be creative. It requires a human touch. 

To sum it up…

The advertising spectrum is complex. While it’s true that no single element should take precedence, the business’s objective and the creative must be the focus of the campaign to ensure maximum success. The world we live in is becoming increasingly isolating and commercialized. Consumers crave branding and advertising that is creative and resonates with their desires and pain-points. Visibility can’t do this. Collaboration with the goal of delivering a creative ad will.