Is Digital Marketing the Wave of the Future?

The future of media and marketing is beginning to shape into form. Traditional media included; Newspapers, Magazines and Television. The future of digital marketing is turning towards online markets and social networks to take the lead for the first time ever. It is anticipated by many that viewers around the world will be online more consistently than watching Television or utilizing traditional media outlets.

Proctor and Gamble Robert McDonald stated “There are just so many different media available today and we’re quickly moving more and more of our businesses into digital.” In a conversation with a Wall Street Analyst, Proctor and Gamble is anticipating to spend a third of their budget ($10 Billion Dollars) towards digital marketing. The concept is, through social media (Facebook, Twitter, Google) engines, a larger audience can be reached more directly.

This is also proven within pro athletes, as their individual brands have grown into digital marketing strategies. Athletes like; Usain Bolt, Mike Tyson and more recently, LeBron James have all attempted or applied a personal application to their brand. Usain Bolt was one of the first international stars to apply this strategy during the London Olympics. Bolt added an application that allowed fans to race his character during the Olympic games. By adding strategies like these, athletes gain a larger fan base and direct income towards their campaigns.

McDonald compared the expenses towards traditional marketing as opposed to digital marketing as “pennies on the dollar”. By shedding expenses by nearly 80% or more, digital marketing looks to be the new trend and target market for the future of any business. With an untapped network accessible at the tap of a button, look for more companies to join Proctor and Gamble by spending large amounts of investments towards their digital marketing campaign. 

Big Spending Franchises vs Small Market Franchises: Who's Better?

Big spending franchises haven’t always panned out to be winners within their respective sports. The Brooklyn Nets have recently become one of the top spending teams in sports with the acquisition of Kevin Garnett, Paul Pierce and Jason Terry. Putting the franchise salary totaling 105 million dollars according to business sports daily.

Throughout the years, many teams have attempted to buy their way to a championship. The Miami Heat did so by acquiring Lebron James, Chris Bosh and bringing back then free agent Dwayne Wade. The New York Yankees are the probably the most infamous franchise in utilizing this strategy. The late great George Steinbrenner was the most ambitious owner that didn’t care about spending any amount of money for a winner, just as long as they won.

Mark Cuban is another owner who is not a shy spender in order to win. His attempts the past two NBA off seasons in trying to land an additional superstar next to Dirk Nowitzki, in order to pursue another championship proves owners pressure to win now. Probably one of the more recent teams using this strategy is the Los Angeles Dodgers. Spending nearly 2 billion dollars in reinvesting the teams stadium, roster and new ownership.

Despite the lucrative big market teams that have used this approach. Many small market teams have flourished on a high competitive level despite their market. The Oklahoma City Thunder has proven that within the draft and veteran acquisitions, you can be competitive. Star Forward Kevin Durant and Guard Russell Westbrook were both drafted by the Thunder.  Though consistent amongst the best teams in the NBA, the San Antonio Spurs are still considered a small market team.

With coaches and managers pressured to win at all cost, ownership now has a shorter leash in allowing systems to produce. George Karl set a Denver Nugget franchise record with 57 wins for the first time in team history. Even with an outstanding season with a young talented group, Coach Karl was relieved of his coaching duties after the season. Is it better to rebuild through the draft? Or is it better to buy a team of stars?

Business Plan Experts: Helpful Tips Used

In the previous posting, two experts were profiled for their expertise in creating a successful business plan. The two experts profiled were: Andrea Cockerton and Angelo Meneguzzi. Each expert applied different tools in order to create their respective business plan models. Those tools utilized will be discussed within this posting as tips for creating a business plan.

Some techniques applied by Andrea Cockerton were applied to the creation of my business plan. Three specific techniques were: 1) Targeting a growing market, 2) Having a groundbreaking product or service and lastly, 3) Asking for money from investors. These aspects were applied to my own business plan creation regarding a youth development service program for inner city youths.

With school physical education programs slowly deteriorating across the country, the youth program would serve as an outlet for a market in need. Serving as a consultant company to professional athletes, a percentage of revenue generated from services rendered, will assist in sponsoring sports camps, summer tournaments and monthly business seminars. The business seminars will serve as professional advisement to local sports organizations focusing on proper business infrastructure, marketing and creative ways to raise the community involvement with their youth.

The money asked from investors will solely serve as start-up money for company operations and marketing opportunities for the first few months of the company existence. Angelo Meneguzzi has a talent as a consultant for forecasting the future in business opportunities and development. In accord with the assignment, our business plan is developed for forecasting an area of need within the country. Numerous outlets have been attempting to search for the necessary funds in order to keep their schools physical education a float. With a successful sports consulting company, urban and rural youth communities will be funded countrywide.

The most important aspects of a business plan are the financial statements and the marketing plan. The financial statements showcase where exactly the liquidity created is being spent, saved and borrowed. This also shows if whether the business will be profitable. The marketing plan is also a key aspect of the business plan. This shows how the company intends to market their target market, what type of market the company intends on targeting and the need of the product or service within the market.

Spoke.com, 2011

Bplans.com, 2010

Andrea Cockerton/LinkedIn.com

Business Plan Experts

Andrea Cockerton

           

Is an independent pitching advisor and expert that operate in the United Kingdom. She has worked with over 350 entrepreneurs and has become an expert within the field. Andrea is an expert within “Venture Funding and Business Critical Ideas”. Her career expanded by holding workshops and events for businesses within the United Kingdom. She’s assisted large companies and developed their operations through seminars and talks. Andrea has a history in Microsoft, MIT and co-founded her own business titled the “Brick Hanbag”.

Andrea Cockerton believed that a successful business plan needs to ask for money from investors. This needs to be revealed to investors before there is no money left for any new venture. She also believed looking into long term fund raising and investing. She believes that every business plan should have at least three components: 1) target a growing market, 2) have a talented team, 3) having a groundbreaking product.

When any investor is looking into a business plan, they must see reason into investing into a company. These factors are essential any business plan and I agree that such assets should be apart of any business plan. Any business that looks to become successful should have a business plan that embodies such ideals. These components makeup a successful proposal to all investors whom are interested in a new business venture.

Angelo Meneguzzi

Is a business professional with nearly fifteen years of experience within the business world. He has been a key asset to several start up companies across the globe. In recent years, Angelo has been apart of public relations, product development and sales. He has worked with groundbreaking companies such as: Disney, Upside Magazine and ABC News.  over a decade of experience in the business world. His ventures have allowed him to work alongside several start-ups in the technological world. With his advice as a consultant, Angelo believes business plans set the tone for the future. It’s easier to forecast the newest trends within the industry and prepare for changes within business.

Spoke.com, 2011

Bplans.com, 2010

Andrea Cockerton/LinkedIn.com

New Marketing Trend for Athletes? Applications

With the entertainment world consistently changing, today’s athletes have become more business orientated than ever. Due to the great success of the “Social Network Media” channels, athletes are finding new ways to market themselves through a variety of ways. The newest and perhaps, most creative strategy to date is marketing through their own application or “App”.

According to the article by Adam Satariano and Douglas MacMillian, world star athlete was among the first international stars to apply this strategy. With the help of “RockLive”, Bolt transformed his Olympic winning into an actual video game App. His application immediately drew attention and nearly 3 million downloads were accumulated. This strategy attracted more superstars to try their input on developing their own applications as well.

Stars from all different sports are beginning to find ways at using applications to their benefit. Bolt used the “App” to broaden his marketing brand to other sponsors. Puma, Gatorade and Swiss Watches are the three most “Prestige” endorsement deals within his brand. Bolt has started and new trend that others have already begun to follow. Some popular names being, Mike Tyson, Joe Montana, Tony Gonzales, Tiger Woods and a host of others.

This new trend is an affective way for athletes to extend their brand. They can market themselves in variety of different ways. Gearing an “App” into their actual preference of style, allows the athlete control over their product. Tony Gonzales has an “App” geared towards his workout regiment titled “FitStar”. With this capability, athlete’s now posses the option of different tools that would bolster their brand to newer sponsors whom may have not been initially interested in the athlete.

According to another article by Gianni D’Ovidio, Joe Montana has spent one hundred thousand dollars to invest in a fantasy football application. The “App” community is projected to gross nearly eighty five billion dollars this year. With a strong community backing this new trend and “Stars” aligning to “Cash-In” on a great marketing tool, this new trend may become regularity for all athletes.