Showing posts with label mike moran. Show all posts
Showing posts with label mike moran. Show all posts

Monday, November 9, 2009

Book Report: Do It Wrong Quickly – How the Web Changes the Old Marketing Rules

Mike Moran’s book ‘Do It Wrong Quickly’ is not just another book about Internet marketing. The title of the book might lead the reader to think initially this book is about mistakes that can be done in Internet marketing. However, the book describes how companies should not get caught up in having to do it right the first time. Rather than trying to do it right the first time and spending significant amounts of money on planning, Moran suggests doing small and quick experiments because doing something wrong quickly is far better than doing something right slowly.

Compared to other E-marketing books, Moran’s approach to Internet marketing is pioneering and simple at the same time. Instead of creating an annual marketing plan, Moran suggests to do quick experiments. In order to decide whether an experiment was successful or not, the company has to make sure that accurate measurement is set in place. If the metrics show that this approach was wrong, the book clarifies that this is not a disaster, as something new can be tested very quickly the next day. By experimenting on a daily basis, a company can gradually fine-tune its marketing to have the highest possible outcome. This approach might change the entire world of an E-marketer, who is used to plan ahead of time in order to make it right the first time. This implies a flexible and open company culture. If this is not the case, e-marketers might have to overcome obstacles to persuade their leaders to ‘do things wrong quickly’.

Sunday, November 1, 2009

Do fashion brands need Facebook?

Facebook being one of the social media sites with the highest traffic worldwide, I was curious to learn how strongly fashion companies are using the site within their online marketing strategies. According to Mediapost.com, fashion brands need Facebook, as it provides fashion companies a unique environment that is more powerful than traditional marketing. As also discussed by Mike Moran in his book ‘Do it wrong quickly’, Web marketing through social media allows customers to segment themselves based on their needs which he calls marketing personalization. And Facebook is a great example for this.

But to what extend do fashion companies need Facebook? I think fashion companies should not rely too heavily on sites such as Facebook, as it cannot replace traditional media. However, it is important to not underestimate the importance of having a facebook presence. Marketers need to consider this channel as a messaging opportunity next to other channels leveraging the fact that their customers have deliberately decided to become a fan of their favorite brand.

Pink, a Victoria's Secret Brand, is a great example how an apparel retailer can use Facebook effectively to reach a specific segment. Pink was able to attract almost 1.5 million fans by uploading for example fun videos about two guys travelling around USA. Some of them are really funny and definitely worth watching: