Innovate or miss your “Target”

Innovate or miss the mark. Change is not only good, but necessary.

Target is the perfect example of failure to innovate. I am certain that the Target Corporation had the best of intentions bringing its promise of quality retail at low prices to Canada – only two short years ago.

The popular US retail giant had successfully positioned itself in the US as an upper-end discount store, and all indications were that Canadian’s were ready for it.

Why did Target fail to hit their target in Canada? Lack of innovation.

The Target brand launch in Canada was big and splashy. Colourful (note the Canadian spelling) Ads, with messaging that showed Target understood Canadians.  The creative and messaging almost invited the country to welcome the big kid from next door. I dare say that the Ads were even “Tim-Horton-esque

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The ads and fanfare brought excitement and a promise that the Target cache, products, and pricing model could be replicated for Canadian’s, who loved to shop at Target when across the border.

When Canadian discount retailer “Zeller’s”, succumbed to the competition in 2011, Target swooped in to save the day. Surely it was just that Zeller’s, the Canadian retail staple founded in 1931, and acquired by the Hudson’s Bay Company in 1978, failed to keep up with new superstore discount retailers like Wallmart. The Zeller’s stores that failed provided much of the initial space for the first Target stores to open in Canada.

Obviously Target had all the right stuff to make it right?

 

Innovate.Def

Wrong. Target failed to innovate.

 

Whether it was that Target did not understand retail in Canada, how to work in Canadian communities, or the government policies that may have impacted how they delivered on their brand promises, Target failed to meet the requirements to thrive in Canada. They rested on the success they had in the US, and did not recognize the need for change.

Target was not the first, and it won’t be the last brand that has failed to innovate while pushing forward into a new market, sustaining profitability, or attempting growth.  Even brands that have a unique offering, and strong brand have failed due to lack of focus on systems and process that may have worked at one time.

Think Blockbuster.

 

Had Blockbuster Video innovated by providing something like the new “Red Box” that now sits at the front of supermarkets – perhaps Blockbuster’s fate may have been different?

Or consider Netflix. Netflix launched in Canada in September of 2010 This is a brand that saw the opportunity in streaming video that came with increased access to high speed WIFI and mobile devices that could handle streaming media.  Netflix took the lead in delivering streaming content, and then showed innovation in producing the content as part of their offering.

 

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Netflix took a queue from HBO and Showtime – traditional content producers, and added what worked for them into their mix. They changed what they offered their customers, and provided more value.  More importantly, they innovated at a time where the competition could have left Netflix lost in cyberspace.

The Netflix model is now being replicated by others including Amazon with “Amazon Studios” and Yahoo!. Both are producing their own content, and adapting tactics that have worked in other mediums.

It was only in November 2014 that Canadian streaming media competitor “Shomi” – a joint venture between Rogers Media and Shaw entered the market as an alternative to Cable and Netflix.  Shomi came out of the gates as an alternative to the streaming service that Netflix offered in 2010 – in November 2014!

Bell Media’s “Crave TV” launched only a month later in December 2014, one month after Shomi. Need I say more?

Perhaps if Target had spent additional time and dollars in preparing to enter Canada, and more importantly considered how to manage products, services, people, and pricing that may be different in a new market – we would not have 17,000 Canadian’s unemployed as of last week’s announcement.

The moral of this story?

 

Innovation might be the next buzzword or hot catch phrase, but those who are actually putting it into practice will hit their targets.  Of this, I am convinced.

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About:

Alicia Whalen is a process innovator, social media influencer, digital media evangelist, and Co-founder of the successful digital marketing conference – Online Revealed Canada – now in its 10th year. A Blogger at ideahatching.com, speaker, trainer, and lover of ah-ha moments. Tweet me @acoupleofchicks or connect with me on LinkedIn

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Online Revealed Canada Conference:  Join us March 31-April 2 2015 in Toronto for the 10th annual Online Revealed Conference for digital marketing in tourism and travel.  After a decade of challenging the “old ways” of marketing online, and with a theme of “Predicting and Promoting A Look at The Future of Travel Marketing.” my partner and co-founder Patricia Brusha and I are excited to deliver a special 10th anniversary edition event with a new format, exciting venue and top speakers in the industry CONFERENCE REGISTRATION is now open.

I look forward to seeing friends and colleagues to share in where we have come and where we are going in digital marketing for tourism. What a ride it has been so far!

 

Article references:

  1. Financial Post: 2015/01/15 
  2. Financial Post: 2015/01/19
  3. Toronto Star: 2015/01/25

Strategic. Streamlined. Sexy : Keys to Success in Social Media

Planning a Social Media Strategy is about as straight forward as asking a toddler to “sit still for a minute”.  So what is a Marketing Director, Community Manager, accidental social media poster by default to do?

Social Media has morphed many skill-sets together and may be managed by a variety of different people or positions within an organization. Ideally an outside agency or consultant with experience in developing and executing multi-platform social communities and campaigns should be brought in to set up a social strategy, define key metrics for performance, and to train internal teams to manage moving forward.

Having said that, if time and resources are not available – stick with the three S’s in managing successful social media communities and campaigns – and make sure to integrate your social media with your overall marketing efforts, and you will see results and ROI.

 

Strategic, Streamlined and Sexy:

1. Strategic

Strong brands in social media have a strategy, the right resources, and a plan.  Start with what channels you need to build a presence on based on your target audiences.

Define social media goals.  Don’t jump in on every social media channel until you are doing one really well.  Maybe you have a killer Facebook business page, but you are lacking new fans, engagement or clicks back to a conversion.

Perhaps you have not had the time or resources in moving ahead with LinkedIn for your Sales team, but you know the networking tool could really make the sales process easier.  Build it into your plan and have a solid strategy to ensure that any time and money spent will see an ROI in some way or another.

Write a plan for each social channel you are already using or think your brand needs to have a presence on, and identify what needs to be improved and why.

If you spend time posting and building a community on Twitter and you can’t define a few good reasons why.

That question of ROI will always rear its ugly head.  Key performance metrics can be as simple as driving target referral traffic back to a website, or networking with customers and learning about the competitor.

Define what you (or your competitors) are doing well, how could it be improved, and how you will benchmark the performance or ROI.  Then map out what resources are in place to manage the community, the goals for each community, and how you will measure it.  

Think traffic to a website, increased engagement metrics, increases in content shares and viral distribution of your brand content.

 

 “Planning a social media strategy is as straight forward as asking a toddler to sit still for a minute.”

2. Streamlined

No one marketing campaign has ever worked in isolation.  At the same time, each of your social communities will be different in the way you deliver content, respond and engage with your followers and brand champions, and in the amount of time and resources you devote to it.

Be smart and streamlined with your messages.  If you are looking to run a contest on Facebook – ensure you plan it out properly, and ensure all roads lead to a point of conversion.  Conversion may be more “likers” or traffic to your website, but ensure that your target audience follows a path to enter the contest and complete an action that you had intend them to complete.

Be streamlined in your efforts overall.  Avoid trying too many tactics on too many social channels.  Stick with what’s working and make sure you manage your resources to be able to build your social brand over the long term.

 

“You have to stand out, shout out, and be proud of your brand on the social web!” 

3. Sexy

Yes I said sexy.  Digital media allows us to think outside the box.  Try some unique and creative tactics and have fun with it!  If you are going to dedicate time and resources to develop a presence on social communities – you better use them to their fullest potential!

Learn to listen and respond instead of pushing out messages to your target audiences. The social web is the place to show the personality of your brand and really engage your consumers – not to announce a 20% off special.

There are many other MUST DO’s in building out your brand social media strategy, but if you keep these points in mind, focus on good design and content, and at the very least commit to allocating resources to get in the game – you will be ready for all of those RT’s, LIKES, Diggs, G+’s, Shares, Comments and Views.

 

ABOUT:

Alicia Whalen is a Digital + Social Media Marketing Professional and recovering Entrepreneur, who has spent over a decade helping professionals understand how to embrace digital and social media. An avid tweeter and lover of travel, technology and the Ah-Ha moments.

Connect with Alicia on TwitterLinkedIn or at www.ideahatching.com

What’s your Twitter handle?

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Perhaps you don’t have a good handle on what Twitter really is and all the ways to use it?  (it’s ok really…we are all still learning).

 

Twitter is above all else a communications tool, a vehicle for any business or person to build buzz, discuss topics of interest with like-minded people, a place to engage in a conversation with your customers and colleagues, a customer service tool – and a way to increase reach much quicker than traditional media.

Unlike Facebook and other Social media channels, Twitter is about forming new connections with people you don’t necessarily know (or will ever know) in person.

Twitter can be used to push out content (new blog posts, articles of interest, photos and videos), to stay up to date on trends, and to drive awareness to brands and businesses, and most importantly – the people behind the brands.

Twitter’s greatest power, once you have developed a twitter tone, a good following – and you have figured out how to provide your followers with valuable, engaging content – is its ability to communicate quickly to large numbers of people.

Twitter is a great tool for crisis communications, live event, or CRM, for extending customer service online, and above all, a great tool for building brand personality and credibility.

Not a place for pushed out marketing messages, Twitter allows you to communicate and engage with your target audiences. Use twitter to draw attention to other places where your brand lives such as a company website, or Blog, or even your company Facebook page where there is more room for expanded messages.

You will need time and resources to set up and manage a good twitter account, and not having a Twitter strategy will certainly lead to poor ROI and possibly some mishaps along the way.

Twitter Tips:

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Make sure your Twitter handle – your Twitter name – mine is @Alicia_Whalen_  is reflective of your brand, and ensure the bio is more personalized to the Tweeter

Pick the right image for your profile pic.  This becomes how other Tweeter’s will recognize you in the newsfeed.  Brands should use Logo’s.

Be strategic when developing your tone – be conversational and add value to the ecosystem

Share and RT (re-tweet) newsworthy or quality content. It is a good practice to “return the favour” with re-tweets and thank those who RT your content

Use @username (the Twitter handle!) when referencing another person in Twitter

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Mark positive feedback as “Favorites” by clicking the heart in Twitter, and retweet (RT) good content.

• In general, follow people who follow you – but not always. It is not about how many followers you have on Twitter – tweeters will look to who you follow as an indication of who you are.

Tweet interesting news and info related to your company and industry, and follow colleagues, industry associations and even competitors.

Twitter lists allow you to categorize Tweeps (Twitter people) and better organize how you follow their content

Use Hashtags # to index and label your content in Twitter. ie. #TwitterTips and #Socialmedia for this Blog post will ensure that this content will appear in a Twitter stream of content related to using Twitter – and may then be seen by more people

Set-up scheduled updates and manage your Social Media postings through tools like www.hootsuite.com or Sprout Social – or even through the Twitter APP.  You can manage comments and messages directed to you on the go easily with the Twitter App.

Monitor. Use tools like Sprout Social and Hootsuite.com – Twitter also now has analytics that show you the reach of your posts.  Deeper analytics are available for Ad posts or promoted posts within Twitter.

Twitter takes time and commitment but can open you up to brand fans, brand champions, and new customers far beyond traditional marketing communications channels.

Summary:

Be authentic, show some personality, don’t sell, make sure to drive traffic back to your transaction point (your website, a phone number, email sign up, Blog etc) use Twitter as a part of your overall marketing communications strategy – and have fun – it is ‘social’ media after all!

 

About:

Alicia Whalen  is a Speaker, Blogger, Entrepreneur  and Co-Founder of Hashtagio.com – The platform that harnesses the power of social and user- generated social content.  

 

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Toronto, Ontario, Canada
alicia.whalen@gmail.com
905-401-2249

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