Asymmetric dominance or decoy effect

Asymmetric dominance or decoy effect

Advertising, Marketing
Asymmetric dominance or decoy effect is an interesting psychological phenomenon used in marketing by which customers tend to make irrational purchase decisions depending on the choices they are shown. If we have options A and B, and customers would rather A, it is possible to include a third option (the “decoy”) that will be similar to B but clearly disadvantageous. When C is included, customers prefer B. We can see it in the following specific example, taken from a real experiment: Small popcorn: $3 Big popcorn: $7 In this scenario, customers picked the small popcorn. Then a new option, the decoy, was introduced. Small popcorn: $3 Medium popcorn: $6.50 Big popcorn: $7 When faced to this new set of options, the customers began to choose the big popcorn. The asymmetric dominance or decoy effect happens because…
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10 links that show what Google knows about you

10 links that show what Google knows about you

Marketing, Online Marketing
Through its cookies, Google gathers a lot of information about users online behaviour. This data is used for targeting advertising and to personalise the different services Google offers. You can access the information anytime, but not surprisingly these links are not well-known by most users. This quantitative and qualitative information helps advertisers to target ads with great accuracy and provides analytics to evaluate performance and make marketing decisions. To check most of these links you have to be logged in your Google / Gmail account. 1. Ad Profile Google ad settings show what Google knows about you regarding gender, age and specific interests based on the search history on Google and YouTube. If you want, you can switch off the ads based on your interests. Once deactivated, you will still see ads but only based on…
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The attention economy

The attention economy

Advertising, Marketing, Online Marketing
Attention economy is an interesting concept from information management that helps us to understand some current trends in online business and advertising. The basic idea consists in considering human attention a scarce resource, due to the modern phenomenon of information overload. Getting and keeping the audience's attention is an increasingly difficult challenge and most of the marketing efforts focus on this problem. The underlying principle of the attention economy concept is so fundamental that it is a basic premise for any communicative interaction: for a message to get to its addressee, we need his attention. The problem is that nowadays in the "Information Age" we are continuously exposed to all kinds of contents and advertising through all kinds of different communication channels. We are faced with a massive and increasing amount of stimuli, and our…
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Online political marketing

Online political marketing

Marketing
Within the online marketing world, political marketing has become an interesting specialty. Politicians nowadays have and maintain communication channels to promote their campaigns and keep contact with the electorate. Initiatives as the electronic vote and the digital democracy (or e-democracy) promise to get the political and online spheres much closer in the future. Online marketing allows politicians to: Have their own 24/7 global communication channels Manage their own online reputation Interact with journalists and the electorate in general Encourage their followers to get involved in the campaigns Convey their opinions on matters of public interest Create an image of transparency and familiarity   Online marketing and political campaigns Of course, the Internet is a fundamental advertising media for political campaigns. But it is also essential for establishing communication channels that allow politicians to keep…
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How to manage online reputation

How to manage online reputation

Marketing, Online Marketing
Online reputation is a brand's prestige or perceived value on the Internet. We understand "brand" in its broad sense: it could be a product, service, company, organisation or individual. They all require online reputation management. Online reputation management has become an area of growing interest in marketing since the Internet became one of the preferred methods to search for information about products and services. The online world has a great influence upon consumers' purchasing decisions. We should keep in mind that online reputation management is a continuous process of data collection, monitoring and analysis that allows us to follow changes in a brand's perception over time and helps us to make marketing decisions. It should provide quantitative data (for example, number of positive, neutral and negative mentions over a specific period) as…
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Eye tracking of Google search results

Eye tracking of Google search results

Marketing, Online Marketing, Search Engine Marketing
Eye tracking is a type of analysis that shows the most viewed areas on a page and the path sight made across the page. Of course, some of the most interesting and useful eye tracking studies are those that focus on Google search results. By studying them, we realise why it is so important to be in the top results. There are many ways to study eye tracking. Some of the techniques involve filming the user's eyes during the browsing.   The heat map An eye tracking heat map shows which are the "hot areas" of the webpage, those where the user's sight tends to focus more frequently. It is interesting to note that the Google AdWords ads located on the right sidebar get little attention compared to those located next to the…
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What is remarketing and how to do it effectively

What is remarketing and how to do it effectively

Advertising, Marketing, Online Marketing
Remarketing or retargeting is an online marketing practice that involves targeting our ads to an audience that have already visited our website. This technique is especially important in e-commerce, since most visitors do not make a purchase in their first visit. There are some online marketing agencies that specialise on remarketing.   Types of remarketing Probably the most known way to do remarketing is through a feature on Google AdWords. This specific setting allows us to target our advertising on Google Display only to people who have already visited our website and been identified by a cookie in their browser. We should bear in mind that in this case our ads could be showing up on websites that are not remotely related to our product or service, since their content does not…
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Advertise for free on Google AdWords with Google Grants

Advertise for free on Google AdWords with Google Grants

Marketing, Online Marketing, Search Engine Marketing
Google Grants is a Google program that gives a monthly credit of $10,000 USD to NGOs and charities to advertise for free on Google AdWords. There are some conditions. The money can only be used for Google Search advertising, not Google Display, which means that it can be spent only on text ads on Google search results. It cannot be used for banners nor video ads. Also, the daily budget cannot exceed $329 USD and the CPC (Cost per Click) per keyword cannot exceed $2 USD. The following video explains the program. https://www.youtube.com/watch?v=IuDoyPW9ArA For applying to Google Grants, visit the Google Ad Grants website and click on "Sign Up". You can find more resources for NGOs and charities on the Google for Nonprofits website. If you want to use Google Grants but you…
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Kidults, the adultescent market

Kidults, the adultescent market

Marketing
"Kidult", sometimes referred as the kidult or adultescent generation, is a marketing neologism created to describe a new and growing market. There is an increasing number of products and services targeted to this segment.   The kidult generation There have been given many and different explanations for the kidult phenomenon. Some link the kidult culture with the fact more and more young adults still live with their parents, leading to an excess of leisure time, immaturity and a prolonged adolescence. Others explain it focusing their attention on those professionals who need to reduce stress and escape from the pressures of work life. In any case, it is clear that the kidult generation is integrated by adults with purchasing power who, for some reason, show purchasing habits and interests that traditionally belonged to…
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