Sports Marketing Blog: Week of 12/4/2017

New to the sports world, and not even really considered sports, is eSports. eSports is the competition of numerous teams of players playing video games against each other. Although it is still somewhat new, high-level executives in the marketing field see enormous opportunities for growth.

Ken Ungar, the founder and president of his own sports marketing agency experienced an eSports event in person. He witnessed fans staying for over eight hours as they cheered on their favorite players. “I saw incredible fan passion and rooting interest that rivaled any sport that I’ve ever attended over the past 40 years, yet I saw very little commercial activity, sponsors, licensed merchandise sales, hospitality and realized there was a tremendous opportunity to take this sport to the next level.” With the sport being as big as it is already with virtually no real sponsors or advertising, the idea of having someone with knowledge in the field could bring eSports to a whole new level. Unger states that the demographic of eSports is perfect, as kids who play video games will continue to like doing so, and could carry into their adult lives. Universities have started to give some students scholarships for eSports activities. They hope that the way big sports like basketball and football are played and payed attention to will carry over to the eSports world.

Within the next few years, Ungar expects player’s salaries to increase, upgrades of venues, better broadcasting, and a larger fan base to be the result of the new sponsorships coming to the industry. To go along with branding and creating a fan base, teams having their designated “arenas”, or venues, could build their fan base by having locals get behind the team and have a true relationship and dedication to them.

https://venturebeat.com/2017/11/09/the-future-of-esports-marketing-2/

Social Marketing Blog: Week of 12/4/2017

Developing a Global Social Impact Strategy for Toyota

To mix things up a little bit, I was able to find an article with a real-life, company partnership to be able to make a difference in the world. “Toyota partnered with FSG to develop a business-aligned social impact portfolio focused on various aspects of mobility—personal mobility, green mobility, and urban mobility” (FSG website). Toyota used this tactic of partnering with FSG to achieve their company goal to “enhance mobility” while also making a positive difference. The personal mobility of the partnership was to expand upon Toyota’s range of vehicles and equipment that would positively impact customers with disabilities and their caregivers. On the other hand, the green mobility goal is all about being more sustainable. Ultimately, FSG and Toyota together, are looking to make a greater difference to positively impact the world around us; the earth itself and the people living here. 

 

Retail Blog: Week of 12/4/2017

Virtual Reality Leads Marketers Down a Tricky Path

As we enter the modern age of new emerging technologies, the constant changes and additions in the market are promoting new opportunities, and challenging marketers with the decisions of capitalizing on these technologies or going on without them.  One of these interesting new concepts that marketers are facing is virtual reality.  Virtual reality has proven that it can be a game changer in different industries from a marketing perspective, while also being a money pit for others.  

Marketers can use this VR technology to give consumers a unique experience that they are likely not able to get anywhere else.  For example, in 2014, Dos Equis, a beer maker, created a virtual reality masquerade party where the participant could experience flamethrowers, and acrobatic dancers amongst other interesting activities.  By giving the user this one of a kind experience, the companies can provide something that others cannot provide, as well as something that the participants will likely not see in the real world.  

 

On the contrary, companies such as the e-commerce giant Alibaba have found their efforts in the realm of virtual reality to be costly and criticized.  The company had created a virtual shopping mall where participants could walk around and experience the mall on the VR headset, which was not adapted very well by users due to the fact that you can simply do it in real life with little trouble.  These experiments can be very costly if not successful considering that creating a virtual environment often starts at around $500,000, as well as a cost of $10,000-$100,000 to create a 360 video.

 

Overall, as more and more consumers adopt this new technology, the focus on VR may become more intensive and competitive and cause an increase in spending on this segment.  Depending on the use of the technology, VR can be just the boost you need in the marketplace, or it can be a company’s downfall.  

 

Market Research Blog: Week of 12/4/2017

As we get into the Christmas season, marketers are working hard to make sure all the presents are being bought from their store.  As we are already past Black Friday and Cyber Monday, we saw a shift I how people spend their money. As profit totals from the day are starting to be released, we see that many people have opted away from the traditional brick and mortar stores and transitioned to the online shopping experience. In just 24 hours Americans spent 5 Billion dollars on line only. This was a 16.9% increase in amount compared to last year. As we look into the future there is no reason to believe that the speed at which online sales growing are going to slow down. I think businesses are going to realize that online sales is the future of black Friday. Are we still going to see customers’ line-up for hours in the cold waiting for that doorbuster or simply browse online underneath the Thanksgiving dinner table?

 

http://money.cnn.com/2017/11/25/news/black-friday-holiday-shopping-foot-traffic/index.html

Event Planning Blog: Week of 12/4/2017

In this week’s blog, it gives many new fresh ideas for planning your successful networking event. Selecting a venue may be overwhelming but by following these easy steps you’ll be a pro in no time! Peerspace is a helpful tech-forward company that makes it accessible to exchange ideas between the host and the venue seeker. In order to gather creative ideas, one has to lean on the experience of space hosts. The key priorities of a networking event are having communications and many connections. You are going to need a venue that creates “intentional collisions”. Remember to have sectional spaces where employees can have casual conversations as well as more detailed discussions. This will build new opportunities for potential partners. As well as being in unique neighborhoods, Jai Singh, from Peerspace, suggests enhancing the type of style and brand for individuals and companies that will encourage thoughtful discussions. Many individuals that attend networking events want something that makes their mouths drop. By selecting a venue in an industry hub or even in a large metro area, will catch their attention and it will receive maximum attendance. But make it unique and interesting! For a successful event, try an out-of-the-box venue that provides a fun welcoming atmosphere. Now just by following these effortless steps, you’ll have everyone talking about your lavish event.

Digital Marketing Blog: Week of 12/4/2017

Eight Predicted Digital Marketing Trends for 2018. 

The digital world is constantly changing with rapid advancements in technology each year and it is important to keep up with the new shift changes. The first change is the advancements in voice search. Businesses are starting to consider more in their search engine optimization strategies because voice search already accounts for 20% of searches. There has been a clear rise in influencer marketing over the past few years, especially on social media. This can be a cost-effective way to reach highly engaged and relevant audiences. More and more companies are investing in live chat as it will become an even bigger channel of communication in B2B interaction. Next, companies are moving away from polished media posts to more authentic ones to show the true picture. With growing cynical audiences’ brands, will realize authenticity is key. Another trend is local inventory ads which Google will improve on its tracking. This will lead to better measurement of Omni-channel which makes it easier to track store visits. Understanding micro moments, decisions are made in a split second and each person is checking their phone 100+ times a day. The last big surge has been abolishing the norms for a more inclusive message. There have been big brand campaigns with a real focus on gender equality, prejudices, and sexuality.

https://digitalagencynetwork.com/8-predicted-digital-marketing-trends-for-2018/  

Department Store Blog: Week of 11/27/2017

Its no secret that the retail industry as a whole has been taking a hit lately, but now instead of losing sales to online sites, brands are losing business to the stores which they sell their products in. 

Premium brands such as Michael Kors, Kennith Cole, and Coach are finding it harder and harder to compete in an industry which is experiencing drastic markdowns in order to stay afloat.  These brands which have historically been inside of department stores such as Macy’s, are either gearing back their presence in the stores, or exiting them altogether in order to focus on their own brands.  Full-price business is not only an issue within department stores, but also companies like Ralph Lauren and Fossil are experiencing a high amount of store closings.  

The full-priced retail industry is also experiencing a blow from off-priced retailers such as TJX companies and Burlington.  These stores continue to outperform department stores, and unless the trend changes, department stores will continue to decline, while off-price retailers grow. 

Sports Marketing Blog: Week of 11/27/2017

It’s hard to imagine that someone who likes sports doesn’t know about the Ball family and their ridiculously priced Big Baller Brand merchandise. For many, the brand is a joke and doesn’t stand a chance to the powerhouses of Nike, Under Armour, and Adidas. This couldn’t be further from the truth. Lavar Ball has constructed his own view on sports and through his sons, has been a marketing genius for the company which has done better than most people would have thought. This article depicts the way in which you would advertise your product to consumers and the way that Lavar Ball decided to turn his dream into a multi-million dollar reality.

The genius behind the madness is clear when looking at Lavar and his tactics. Appearing on numerous talk shows for ESPN and Fox Sports and being interviewed at almost every sporting event he attended, Lavar always seemed to know exactly what he was doing. In order to generate revenue, you need interest. What better way to get people’s attention than claiming to millions of viewers that your son was better than one of the best players in the NBA currently, and also stating that Lavar himself could beat Michael Jordan, the greatest player in NBA history. This accompanied by the constant attire of Big Baller Brand shirts, hats, pants, ties, and sweatshirts when on the select talk shows. The methodical approach to how Lavar would get his brand noticed is nothing less than incredible.

There have always been brands claiming to be superior than the rest. Big Baller Brand took the high-end route to stand out from competing companies. Shirts starting at $50 and signature shoes starting at a whopping $495. This generated countless debates and gave the company exactly what it wanted, free publicity. Although Lavar isn’t your stereotypical businessman, he has proved time after time that he can hang with the very best in the marketing world. No matter how crazy and unrealistic Lavar Ball sounds, there’s one thing that you must admire, his ability to draw interest to his company.

 

https://www.forbes.com/sites/prishe/2017/05/10/brand-building-lavar-ball-and-the-business-of-sport-marketing/#13fcec279f8c