Lawrence Gee | Marketing, Internet, Creativity, Strategy

Wal-Mart Announces Price Cuts

The Fed had another rate cut this morning.  Will Wal-Mart do the same?  Last week, Wal-Mart annouced that it was cutting grocery prices some 10-30% in order to help consumers get excited about shopping again.  Just in time for the Superbowl, this smells alot like good ‘ol fashion marketing and promotions.  Known for Everyday Low Prices, Wal-Mart continues to build on its brand image as a low cost leader for the typical American family.  It also gets alot of free press by playing off of the Fed Rate Cuts.  Free, positive news when recession looks loomingly close is great, but will it bring the shoppers out?  I’m not sure if I would make an extra trip out to Wal-Mart but when I’m buying chips and sodas for the NY Giants victory  (ahem, cough, cough) this weekend, it’s definitly top of mind….and that’s exactly what Wal-Mart wants. 

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Search Marketing Has a Bright Future

I came across an article today called “Search Marketing: A Rewarding Career Path ” on Search Engine Watch today. It basically was discussing the results of a new survey of in-house SEMs conducted by SEMPO, the Search Engine Marketing Professional Organization . Some very interesting facts from the article:

• ~64 percent of respondents had five years of SEM experience or less.
• For those with 0-3 years of experience…
  • 8.0% made over $100K
  • 48.8% made between $50-100K
  • 43.2% made less than $50K
• For those with 5-7 years of experience…
  • …they make significantly more.
  • The majority (56.4%) make more than $80,000 a year. Of this, 4.4% reported earning more than $200,000 and 30.3% make between $100,000 and $200,000.
• Few senior management roles for Search as of now - Only 4% had VP titles and 10% had Director titles.

Some very interesting numbers and figures, especially considering that SEM is a relatively new field of marketing. Simple supply and demand theory implies that salaries should be decent for both inexperienced and experienced hires. How many graduating college students have degrees or concentrations in Internet Marketing? Yes, exactly.

Of course, in the next 3-5 years this will obviously change. I recently took an Internet Marketing class as part of my MBA curriculum at USC Marshall. A few years ago it was an experimental class; today its a regularly listed elective. We all should expect more colleges and universities to offer courses like this. It’s hard to deny the fact that the Internet is an important channel for any marketer to get a grasp on. It will definitely be a competitive advantage going forward for any company and individual who gets it.

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Marketing the Graduate Marketing Association

Classes start up again on Monday so I wanted to do some shameless promotion for the Graduate Marketing Association, where I am VP of Marketing.  This summer, I spent some time developing a logo and new website for the organization.

 The fruits of my labor can be found here.  I would love comments and/or feedback if you have any.

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100 Miles Down and I Want to Share

So today, I broke the 100 mile mark for the year.  This means that I have run at least 100 miles in each of the past 4 years (yes I have been keeping track) .  I used to track my mileage by manually entering into a training log on NikeRunning.com.  This past January, I began using the Nike+ Ipod System to automatically track my distances and log my results.  I have been impressed not only with the quality of the product but also the design of it.  It is quite user friendly and bottom line it works. 

The product design is only one part of why I am such a strong advocate.  The website and motivational tools that are provided also add to the experience.  After uploading my runs I can visit NikePlus.com to see interactive graphs, accumulated mileage, and personal records.  I also have the ability to challenge other people (e.g., most miles run within 30 days) and I have the ability to join running groups with people around the country. 

In terms of social marketing, they do an excellent job of creating buzz and provide opportunities to share your enthusiasm for the product.  Aside from challenging other friends to run more or interacting with others around the country,  I also have the ability to share my accomplishments.  When I passed the 100 mile marker, I was “awarded” a printable certificate, the ability to have a shareable link to an online certificate, and a medal for my personal records.  Little things that keep you motivated to keep running more.

I can also share my runs with other people on websites, blogs, or social networking sites.  Below you will find my longest run of the year (notice how I died towards the end).  Pretty cool, eh?

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3 Mantras to Work By

Too often, you see work being done that is not quite up to par.  I believe in 3 mantras that will help facilitate success:

1. Do it well (the first time) - Put out high quality work from the beginning.  This will save you from wasting time fixing your mistake.  This will let you concentrate on continual improvements and thinking ahead versus always looking at fixing the past.
2. Be timely - There’s something to be said to providing something when someone wants it.  Also, if you are offering something that’s the same as everyone else, you’re already late.
3. Be authentic - If you try to be something you are not, people can see through it.  Don’t be the sleazy used car salesman.  Do your best and build up your reputation through honest hardwork.

These mantras can and should be applied to your daily work, future marketing campaigns, etc..  If you look at successful products in the marketplace today, do they satisfy these mantras?  I would guess that they all do.

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