Fantastic course! I was completely incorrect in my understanding of the world – and I was not alone… 🙂 Many people do not completely understand the state of globalization and tend to overestimate it (proponents and opponents of the globalization alike).
The most hilarious term to describe this state is globaloney – and, yes, my head was full of it!
The course highlighted the level of misunderstanding and popularization of common beliefs among business and population in general. Majority of people believe that the world is closer to being “flat,” what data suggests is rather incorrect.
The “World 3.0” approach suggests that the world’s interactions are influenced by several factors, which will predict how two particular countries behave in the economic sphere. Four points comprise the CAGE Distance Framework: Cultural, Administrative, Economic, and Geographic distance.
The CAGE Distance Framework can be helpful in predication of international expansion of a business and success of this expansion.
Businesses are advised to understand the differences between their company’s home country and potential international expansion and take them into consideration. The AAA strategy is recommended, when a company can consider all three approaches, but should find one that can differentiate it from its competitors.
- Adaptation (understanding that the other country is different and adapt approach to its preferences – example is a variety of drinks Coca Cola produces in Japan that are very unique in flavor)
- Aggregation (combining some approaches for several similar countries, etc. – example is Toyota creating a series of vehicles on a larger frame demanded by US penchant for tracks)
- Arbitrage (exploiting differences – example of the difference in pay of knowledgeable Indian programmers and their European and American counterparts that allow Indian companies to provide outsourcing services)
One of the interesting parts is difference of the application of approaches by established global companies and emerging ones.
One of the major points of the strategy approach is to understand the differences, as many strategies created with significant influence of globaloney on the decision makers.
It would be helpful to read the book Redefining Global Strategy to learn more… It is now on my future reading list 🙂
Time flies – just a few years ago we hardly had a tool or two for SEO needs, and now we are talking about tools classifications and platforms. SEO tools became its own ecosystem that require a knowledgeable navigator.
Christopher Hart is part of Linkdex – one of enterprise SEO software providers.
Notes from the event:
- Interesting – Chris mentioned the internal search as one of the primary tools – and it makes complete sense.
- The individual tools evolved into platforms with complete set of data
- Another interesting point: small businesses and large enterprises adopt marketing technologies similarly with the only difference of small businesses adopting social faster and large enterprises concentrating more on automation tools (what is understandable)
- SEO needs to change
- SEO started as exploiting search engines (no longer possible or makes sense)
- need to understand the audience
- need to appeal to the audience and make them advocates
- MOZ industry survey 2014 (conversions and content become more and more important)
- Social should be handled in house (“you are the only ones who remotely understands your business)
- SMO won over CTO on budget
- What changed in 2014: “gaming the system is no longer possible”
- Pay attention to Structured Data (this is important for the presentation, not ranking, but can affect the business)
- Ranking – “set of data to use to do something else” – in itself does not have a value as a target metric
- Very interesting piece of material (think content marketing 😉 ), Digital Marketing Transit Map. The map shows connection to the major “hubs” in the industry and allow to see each individual line separately. The map truly looks similar to a subway map of any major European city. The map (as a piece of content) has enough calls to action on the page to make it beneficial for the creator 🙂
Last few years I was looking forward to Mobile March, and the event has always been very good. The only unpredictable is the weather – it varies from snow on the ground to 70+ degrees for the lovely day 🙂 This year the event was excellent, the weather was… hm… cold.
Notes from the event:
- The perception of mobile marketing is changing from “have to have a mobile presence” (cost of doing business) to “how to re imagine your business” (What is ROI? What is differentiation?)
- Search: 25% of searches use mobile, 50% of mobile have local intent
- Most important question of search: what is the outcome you want to achieve?
- If web site is not good, call to action for a phone call is advisable
- Google using mobile experience as a ranking factor
- Speed of the mobile site – pay attention, but do not get obsessed (nobody figured it out yet)
- Google developers test site – allows to see Google recommendations
- C-suite executives can be found searching primarily 9-5 (business hours)
- Mobile search – click through rate drops significantly from spot #1 to the bottom of the first page – almost 90%
- 50% of the traffic is mobile (more web mobile traffic rather than an app views); major referrals are Facebook and Pinterest
- App has higher user engagement vs. web visits
- Web: read article and leave
- App – stay and spread content
- Recruitment of mobile engineers is difficult; the recruit should be involved into the community
- Use Google Analytics for mobile – why?
- the same analytics that web site is using
- data team is comfortable with GA
- If the app crushes, the review button does not show… but the feedback button does 😉
- YouTube lessons
- Women tend to spend more money based on YouTube activities
- Older people watch the entire video, then comment… millenials watch part of the video and comment
- Thumbnail matter – upload a custom thumbnail; color of the thumbnail also matters (red is not good – danger – the example was very attractively purple)
- Mobile Behaviours
- Before: technology moved from military to the civilian life… now, civilian technology is often used by military – interesting. US Military is using Android.
- From the retailing perspective, Starbacks is the leader in the mobile space
JingIt – a loyalty program allowing advertisers to “pay” customers for trying their products or doing a survey, and customers to earn real money for these actions. Value proposition for the advertisers – it is an alternative to advertisement when you know exactly for which action you are paying and can
- Comparing to all types of encouragement to take action, customers prefer cash
- Loyalty app “paying” people for doing something, including trying a new product or taking a survey
- If not app, another option is to scan a receipt, etc. there are many options, but it is as straightforward yet, as it could be
- Digital coupons are different from paper coupons – in some cases merchants were not able to “stop” them and could not honor the coupons, as a result, consumer trust in electronic coupons may not be that high
- Jingit case studies section has interesting scenarios for advertisers
SalesFitnes – a concept of sales training to encourage practice and even possibly competition between reps. The training is done through the app (native – iPad, as the most popular platform in the target audience).
Interesting: the app comes “out of the box” with standard content for a typical consultative sales training, but can be significantly customized for any product training and unique company’s needs. SalesFitness also ready to provide a service of developing content specific for the company’s needs – I am guessing it will be the best strim of the revenue for the company (just a guess… based on long-time experience in the online marketing industry) 😉
Great MIMA event as usually 🙂 entertaining presentation, a few insights to take to the office, industry friends to talk to, and food! The email is definitely changing, and I guess three main points from the event would be:
- changing presentation of the email boxes by email clients (as all of us are trying to manage our email boxes)
- As we have too many emails, mailbox management strategies evolved… and technology starting to enable these strategies
- extension of marketing automation from b-to-b to b-to-c (gosh – this probably happened first time in human history – something was pioneered by b-to-b and later adopted by b-to-c! 🙂 )
- B-to-c seem to be trying to move successful lead nurturing techniques into consumer environment
- consumers might be revolting against privacy enforcement in some cases, as they like personalized content and find it more convenient. Wouldn’t it be lovely?
Notes from the event:
- Unsubscribe caution: sending emails daily will get 40% list reduction over the year if the unsubscribe rate better than average… Daily send is excessive…
- Gmail mailbox study “the tabs” –
- highly engaged: tabs result in reading more
- medium engagement: tabs result in reading slightly less
- low engagement: tabs result in dramatic decline of activity, but these audience did not pay much attention anyway, so the loss is irrelevant
- Second generation of Welcome campaign: welcome campaign based on which pages of the site the person previously visited
- What people do when they view emails on Mobile phone? Decide which ones they can delete right now
- Responsive email design can be used to offer completely different calls to action on desktop and mobile device (check out [something], and download an app)
- Geo fencing is starting to be used in retail – an email is sent to the staff when the customer is coming into the door
- Unroll.me – a tool that allows mass unsubscribe from newsletters and combine them into a “digest” to review an a desired time of the day
This is fantastic tool!! 🙂 I discovered that I have almost 200 subscriptions – oh…oh… a marketer’s faith 😉 However, the count included different options of the same publication: for example, I would be subscribed to a daily and weekly, and webinars update from the same source.
The selection to unsubscribe or to “rollup” is very straightforward.
After I was done, I was presented with the most interesting information: which communications are more likely to be unsubscribed, which rolled up, and which keep as subscriptions (with the lovely option to tweet or post the info on Facebook).
Now my mailbox is perfectly organized!
Excellent and thought-provoking class! The class forces students to look at management questions differently and see the questions from the human perspective as they existed for centuries.
One of the interesting topics is FDRS (Forced Distribution Ranking Scheme). The class highlighted lack of any evidence that the system was beneficial, but sufficient understanding why it is not. Forbs published a few interesting articles highlighting some of the aspects of the Scheme.
Concentration on shareholder value as a goal of an organization was also discussed. The class provided fantastic and very organized insight into the damaging aspects of the approach… for the organization, for the society, and even for the long-term shareholders.
Firm objective… quite interesting to know that firms that do not consider constant growth their objective are some of the most long-lasting companies in their industries.
I loved the quizzes! Each question actually required thinking and I could not answer more than half of the questions correctly from the first try – it was very entertaining!
Fantastic book! the book challenges “globaloney” that gives many people incorrect understanding of the globalization. My head was full of globaloney! 🙂
The book takes the reader through evolution of our understanding about the world and simple reality of World 1.0 (local and suspicious of strangers), World 2.0 (the idea that distance does not matter), and World 3.0 – the real world – connected, but still constraint by distance, culture, and other constraints.
What surprised me most is the argument that increased immigration would benefit significantly both the developing countries from which people are moving and developed destination countries to which people want to move. The restriction of the immigration would be detrimental not only for the developing countries, but also for the developed ones.
The discovery that I still have gaps in understanding of the “round” world (per survey in the book and on the site) was also eye opening. From one side, I am bi-lingual immigrant who typically works in international companies and full of “globaloney,” from another side, my sensitivity to the differences of the world has a room for improvement 😉
The author’s site is a treasure of information, and particularly insightful maps of relationships between countries – an incredible resource!