Archive for month: August, 2017
Content Marketing: The Brand as a Media Event
Content Marketing: The Brand as a Media Event.
An empirical study by Prof. Dr. Hans-Christian Riekhof, PFH Göttingen 2017
Lecture on March 21, 2017, Marketing Club Hannover
Prof. Dr. Hans-Christian Riekhof, International Marketing, PFH Göttingen 2017
Content Marketing means inventing or discovering exciting stories for a brand or a company, staging and preparing them and ensuring their distribution, especially also in the media. What is behind the underlying idea of communicating without selling?
A very small part of companies have so far developed a content marketing strategy or use a corresponding concept paper. Content Marketing is not so new at its core. Are the potentials already exhausted? What goals are pursued with it? What expectations are associated with it? The present study report provides insight into the success factors.
You can learn more in the complete study, which you can download here .
GFM News: How much does the trade cost LBM campaigns?
It is now clear to many retailers that location-based marketing enables customers to be addressed directly and with high relevance. A survey now wanted to find out how much the retailers are willing to spend on it.
Thanks to mobile devices, customers can be reached almost anywhere. At the same time, the current location of the user can be determined via the devices – which offers marketing new opportunities for communication. According to studies, location-based advertising has a higher relevance compared to messages that are not related to the consumer’s location. For retailers, this channel is therefore of great interest. Dr. Hans-Christian Riekhof, Professor of International Marketing at the PFH Private University of Göttingen, now asked the question of how much the retailers are willing to pay for it.
The short survey shows that there is a high willingness to pay in the trade for push notifications on the customer’s smartphone. The retail decision-makers are therefore willing to accept an average thousand-contact price (TKP) of over 300 euros. According to the study, 44 percent of those surveyed are generally willing to pay a price of 0.11 to 0.50 cents per message.
If the recipients are preselected according to location-related criteria, this willingness increases. Then 56 percent can imagine paying between 0.11 and 0.50 euros per contact.
A TKP of up to 1,600 euros
If the providers of the push messages can prove that receiving a message leads to a visit to a store, the willingness to pay increases further. Almost one in three respondents would now even pay between 0.51 and 3.00 euros for a contact. This increases the average TKP to up to 510 euros. If a purchase can even be proven, the TKP increases to an average of 1,300 euros. The retailers would spend even more money if the message is played out in front of a competitor’s store and then leads to a purchase in their own store. According to the survey, the TKP here is 1,600 euros.
In addition, the trade shows itself willing to spend a certain proportion of the same for the campaigns for demonstrable effects on sales. On average, the respondents would invest 4 percent of their sales in LBM campaigns – if this demonstrably increases sales.
Conclusion
The study therefore shows that retailers are aware of the potential of location-based marketing campaigns. They underline this with their clear willingness to pay for corresponding campaigns.
The online survey was conducted from 15.06.2017 to 30.06.2017 among managers, managing directors and retail experts. The study authors emphasize that although the survey is not representative, it can be assumed that the results provide meaningful indications of the retailers’ willingness to pay due to the “high-caliber group of participants”.
Further studies by Prof. Riekhof on the subject of location-based marketing can be found at:
www.unicconsult.com/kompetenzen/location-based-marketing/
Locationinsider: Willingness to Pay for Push Notifications on the Customer’s Smartphone
If the customer is addressed with a push message from a retailer whose store is in the immediate vicinity, this is likely to significantly increase the chance of a store visit. Would retailers be willing to put money into such a location-based service? This is what Prof. Dr. Hans-Christian Riekhof from PFH in Göttingen wanted to know and started a short survey among trade managers. The results are not representative, but still informative. To anticipate the result. The trade would be ready. And at quite considerable costs. 88 percent of those surveyed would spend up to 50 cents for a digital advertising message that is sent to the target person before or in the store. A full 11 percent of trade managers would even invest more, up to a cost per thousand contacts (CPM) of 300 euros. This willingness to pay increases further if the service also allows the pre-selection of the target group, for example if the message is played out when the customer has left a certain store, or has spent a long time in front of a shop window. The CPM rises to dizzying heights if it could be proven that the customer entered the store after the message was delivered. The highest CPM of 1,300 euros would be paid by the managers if, for example, a coupon was delivered that was then also redeemed. Good prospects for all start-ups and companies working on LBS. More information at: http://locationinsider.de/zahlungsbereitschaft-fuer-push-nachrichten-auf-dem-kunden-smartphone/ Read the article as a pdf: Locationfinder on willingness to pay for push notifications on the customer’s smartphone
Yuval Noah Harari: No Alternative, How the World Could Be Governed
„Selbst diejenigen, die Börsen und Parlamente mit heftigster Kritik überziehen, verfügen über kein brauchbares Alternativmodell, wie man die Welt regieren könnte. Zwar gehört es zum beliebten Zeitvertreib westlicher Akademiker und Aktivisten, am liberalen Paket herumzunörgeln, aber bislang haben sie selbst nichts besseres im Angebot.“