Word of Mouth, Online Reviews – Most Influential in Purchase Decisions.

A new study by Rubicon Consulting states that word of mouth and online reviews are the most influential factors in consumer purchasing decisions. According to the study, the Internet is also an important medium of providing customer support. Following are few other survey findings in the periphery of consumer’s use and perceptions of different websites:

• The Web is the #2 resource for customer support information, after user manuals. It ranks ahead of calling the manufacturer or asking a dealer.
• Website categories that get the most daily usage are search, social communities like MySpace and Facebook, general news websites like CNN.com and NYTimes.com, and online banking.
• The websites that Americans value most are (in order), Google, Yahoo, YouTube, Wikipedia, and Facebook.
• Although Yahoo’s financial challenges have generated a lot of press attention, it continues to have a very large and loyal following.
• Facebook appears to be ahead of MySpace in terms of number of users in the US, and perceived value of the site.
• Despite extensive publicity, the community sites SecondLife and Twitter reach only a few percent of US Internet users.
• Democrats are more active online than Republicans. Democrats are more likely to participate in online communities, and say they are more heavily influenced in their voting decisions by information they find online.
• Young people (age 22 and under) account for about half of all the content and comments posted online.

Learnings from the survey:

• Its important to go beyond website. include Search marketing, Social Media in your marketing budget
• Work towards developing an efficient online customer service platform.
• Do not downplay the importance of online communities
• Increase your focus to those few to write about your brand & build content for you. Connect with them, nurture these online communities. Because these online communities connect to most other internet users who get influenced by the reviews they read on internet.

@ anishvshah

Thanks to Google & MySpace: Display ads are back again!

On October 14th, analysts lowered their expectations from internet biggies like Google & Yahoo. They also predicted that Display ads will be hit harder. “While we expect solid September quarter results from companies such as Google, IAC Interactive, and even Yahoo, all eyes are on 2009,” Canaccord Adams analyst Collin Gillis said. “Display-advertising business models are under siege, as revenue visibility is increasingly unpredictable…Display remains the domain of brand advertisers–and with its softer metrics is more readily seen as a source of spend that can be reduced.”

Everything said & done, display ads are back again! thanks to MySpace & now Google!

On October 12th 2008, MySpace launched their self serve ad platform (still a beta), called My Ads. Like Facebook, it allows anyone to quickly create a targeted ad and serve it on MySpace. But one thing that sets MySpace My Ads is display ads (Facebook only allows text ads). Users can choose between a 728×90 or 300×250 ad unit and can create an ad with pre-built templates and a Flash tool, or upload their own.

Soon after MySpace, Google announced the launch of display ads. I kind of find this funny. Because Google was the one to kill display advertising. Through its Google AdWords, company blew the lid off of online advertising with its simple text-based ads and its cost-per-click model. Advertisers were able to quickly create a terse, compelling chunk of text. Users were clicking. Revenues were rolling. All was right with the world. But, that is past now. Today, Google is getting into the market with the do-it-yourself display ads.

Keeping the value proposition of the brand intact, Google has made the ad design interface absolutely simple. Few clicks here & there will make your display ads. Here’s a video to see how simple it is to open your own advertising shop to design display ads:

When Google launched the ‘text based ads’ it revolutionized the industry. Will is be the same from the ‘display ads’? Lets see. No one knows, With MySpace & Google’s power anything is possible.

@ anishvshah

Introduction to Search Engine Marketing

Can mobile marketing get bigger?

Mobile is no more limited to a 3.5 inch touch screen phone with mp3 capabilities & what not. Its no more a mobile phone,but it is a 3.5 inch wizard loaded with unimaginable capabilities. From online streaming of videos to Social networking, from high quality gaming to making presentations you can do it all! Phones are your new navigators, personal assistants, gaming tools! Day is not far when Xbox, PS or Wii may come up with mobile phone loaded with gaming capabilities!

Smartphone unit sales almost tripled from 2004 to 2005, and increased by 50% in the first half of 2006 over 2005 , reports In-Stat. In another research suggests that Smart phones will comprise 9.3 percent of mobile phones sold in 2009! It is the closest way a marketer can get to a consumer. No other medium is as personally engaging. Hurray!!!! again a whole new toy for the marketers to play with.

One area that has caught marketer’s attention is Mobile Search Marketing, though it is still at a very nascent stage, its evolving rapidly as more 3G cellphones erode the market. Industry analysts have forecasted humongous growth in MSM. For 2007, mobile industry-watchers predicts $1.7 billion in revenues & have estimated $11 billion by 2011, making it a promising frontier to look out for!

The search engines are naturally interested in extending their ad platforms to the cell phone. In early September, Google began allowing its Adwords marketers to create mobile ads to run on the networks of cellular carriers in Germany , UK and the United States. Microsoft & Yahoo are also exploring opportunities into this frontier.

Wow! isn’t it too much for a small device called mobile phone. I sometimes wonder how microscopic can we go in pursuit to enhance brand experience & gain consumer’s attention. I am sure, at this point of time earth is the best place to be in.