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June 16th, 2008 |
A little online market research can go a long way when you need to track moving trends: Latest fashions, must-have lifestyle gear, best-priced jewelry, designer and knockoff shoe brands. Here are some look-out posts, social media lurking sites, and top deals listings.
Look Out Post #1: Search Trends by Keyword, Brand Name, Category.
Go to http://www.toptenwholesaletrends.com, select a time period from the drop-down box, then enter words for the merchandise you are stalking: womens handbags … mens leather … plus size denim jeans … urban and hip hop clothing … fashion watches … backpacks for adults. Alternatively, plug in search terms for the brand name of your choosing.
A click of the search button gives you a graphic line chart showing how popular – or not – your searched merchandise is. This Trends charting from TopTenWholesale dips a toe into a wholesale search database that draws from over 20,000 buy/sell search actions a week. You are pulling popularity stats – totaled search results — from manufacturers seeking resellers, power auction resellers searching for product sources, and wholesalers stalking the best off-price and returned merchandise lots.
Lurking Post #2: Hang Out in Social Media to do Buzz Checks.
Surveyors of online user behavior — Pew Internet and American Life Project – recently published results of the Internet’s influence on politics and social participation, especially among youth. Key was the UNFILTERED and NO-SPIN nature of information exchanged at social media sites; sharing the latest and greatest without going through middlemen like newscasters, publisher’s editors, advertisers or other folks with an agenda. Unfiltered and uncensored opinion.
The Pew Project simply supports what we already know: Lurking and listening at the right social media and social networking web sites can provide up-to-the-minute trend and marketing info.
· Youth Hangouts (Ages 18 to 29): Facebook, MySpace and Most-Viewed Videos at You Tube.
· Boomer Lifestyle Sites (Ages 45 to 60+): Second Life, Gather.com.
Daily Deals Lists #3: Check Top Deals Lists to Learn What Moves.
Go to main category pages at eBay, such as Fashion & Apparel or Electronics. You’ll often find a list of most active products at auction, by product or brand name, for a quick merchandise pulse check.
TopTenWholesale offers a Top Ten Daily Deals list that draws from patterns of buyer and seller search activities in over 20,000 wholesale searches on our industry network. (TopTenWholesale, OffPriceNetwork, WholesaleU, Wholezilla) See http://www.toptenwholesale.com/daily-deals.html for lists and links to the day’s hottest merchandise. Sample Top Ten Daily Deals include the latest fashion watch that tells time and holds a portable Flash drive, the most text-friendly cell phones, backpacks for grown ups from makers of the Swiss Army knife, and Lifestyle Gear (the latest healthy food dehydrators; right-priced adjustable training weights).
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May 25th, 2008 |
Talk about being herded onto the reservation!!
John Federman (CEO of Guidester, an e-commerce ad network for “major brand manufacturers”) recently warned online marketers in E-Commerce Times about Google’s Search-Within-a-Site feature launched this past March.
In brief, Google’s search-within-a-site is supposed to help users who want more drilled-down info from their first search attempt. A searcher types a company name – maybe yours – into the search field, which pulls their selected vendor – you again – into top results. Sounds terrific on the Brand Awareness Meter, doesn’t it?
Then, it gets kinky: a SECOND search bar appears under Google’s site descriptions to help the user narrow a search query to specific types of products. (We know how lazy searchers are. So anything that minimizes clicks, refines queries or pushes lots of related results is presumed Good.)
But, what’s good for the user is “dangerous” for the e-tailer, according to Federman. While that user is getting narrowed search results and abundantly helpful similar offerings, he or she has yet to get into YOUR web site. Even after typing YOUR company name in the search box.
The searcher is being held in Google second-search-box limbo. Just to rub salt in your search marketing wounds, at the same time, the user is bombarded with many vendors or products that compete with you. Thanks to AdWords.
So much for establishing brand awareness for your company and its products. Your reward for snagging potential customers – who even typed your company name into the search box – is having your carefully architected web site firewalled from your brand aware customer. Your branding efforts helped launch the AdWords fleet of competitor search advertising ships. And, you get to watch traffic, sales and page views sink from your own optimized web site. Such a deal??
Just Say No, says brand manager Federman. (Meaning: Give Google the Opt Out.) Even Bob Tedeschi, who has covered online issues since Internet Bubble 1.0 in the late 1990s for The New York Times, declared the bottom line results of Google’s NEW IMPROVED site search to be “egalitarian” in spirit, but “messy at best.”
What do you think?
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May 10th, 2008 |
Okay. That DNA stuff was an exaggeration, but not by much.
Rather than customer DNA triggering an ad serve, it will be a wireless frequency radio transmitter (RFID) woven into their turtleneck sweater. Or an infrared-readable label sewn into off-price jeans, read at the knee as they pass a counter. That’s the new future world of mobile ad serving.
Available right now. Although it has not tech-leaped yet to ad serving, cell phones in Japan already function as electronic wallets that use built-in radio frequency devices for data exchanges and payments. This current usage points to next-step features in Smart Phones, employing RFID, cameras, scanners and recognition software.
Such nifty mobile features allow bar code scanning, comparing prices at different stores, capturing a web address/URL and storing it on a Smart Phone camera image for entry later into a web browser.
Next step. Next challenge is to not simply collect URLs that snag attention from an advertising medium (poster, soup can, billboard, cereal box, side of a bus), but drive the attentive someone to a web site. This use of mobile devices pushes past simple lists of web site URLs, but hits a few snags:
· The Smart Phone must have something to “read” with its smart new recognition technology;
· That means the billboard or cereal box must be transmitting information via radio frequencies, 2-D or matrix bar codes (which, in turn, demand in-phone scanners). Some suggest voice – speaking “Find me that bison burger from the bus card” into a Smart Phone. But voice is less promising as an info transmitter (no context, opposite-meaning sound-alike mistakes, etc.);
· Last snag: Those almost-ready info transmitters (cited above) can’t read an ad billboard unless it’s standardized. That means everything must be coded or marked for phone scans – every store window display, every product package that displays ads — with EVERYONE using the same encoding scheme. As Jim Ready of MontaVista Software told E-Commerce Times: “Google has to do it before everyone else will do it.”
Future Push Ads with Near Field Communications. This is the step that leaps to Future World. It’s the mobile advertising leap that is most exciting and demands nothing – not even a mouse click – from the target customer. To me, it’s also the quantum ad leap that’s most like futuristic film Minority Report … so, it gives me the e-creeps. But I’ll save my paranoia for last.
Auto pushing ads to users requires location-based ad serving: People pass a physical site from which ads beam to a receiver, such as their Smart Phone. Such push ads use near field technologies – WiFi, RFID, embedded short-range, Bluetooth-type low-frequency devices that “talk to” billboards. The passive ad receiver (actually a transceiver, since it also sends data to the ad-beaming billboard) need not be a mobile phone device. Those radio frequency ID labels I cited at the beginning that are sewn into clothing would do, and they do exist now in prototypes for apparel fabric manufacturers.
Look, Ma, No Mouse. Pretend you’re Tom Cruise in the film Minority Report, a former top gun in the police PreCrime Unit (PreCrime ID’s future killers and prevents murder in a time-travel way) in a futuristic Washington, D.C. Except you’re running for your life; a villain tagged you for a future murder.
You escape android enforcers by slipping into a mega mall, where you hear constant ad pitches as you run past the 22nd Century GAP store: “Welcome back, Tom. How are those Dockers pants you bought six weeks ago? We have crew neck sweaters, Tom, that will match all your ….” Fade Out as Tom Cruise passes one blabby mall board, and another starts up.
I bet those 22nd Century D.C. residents aren’t merely sporting transceivers in their clothing labels or future mobile phones. With mere RFID and near field tech, you would not hear endless and instant behavior- and individual-tracking billboards that know your every purchase … nor would the dynamically generated newspapers that gave Tom away on the subway (stories and headlines that continuously change on thin-film interactive newspapers) flip instantly to a Most Wanted Criminal photo of Cruise as he tried to hide in a train car.
Look, Ma, No Privacy. Such powerful near-field communications would have to be advanced nanotech – microscopic chip implants or nano-devices in IDs that the state tattoos on everyone. (Spoiler Alert: What dogs Tom Cruise in Minority Report is nanotech retinal eye scans. Yuck.)
Talk about irritating! I’m not the only one who gets e-creeps from this futurist scenario for mobile ad serving. It might also cause a backlash. Jim McGregor, research director at In-Stat, put it:
“How many consumers would want to walk into a shopping mall and be blasted with ads? You’d get into this whole problem with consumer privacy. Is it feasible? Yes. Would it bring up privacy concerns? You’d better believe it.”
Back to the present: The next steps in mobile, remote and near-field communications ad serving technology are getting ready for prime time today. And, they don’t rely on consumer action or clicks.
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April 30th, 2008 |
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Keep the Tribal Algorithm by Jason Prescott (below) contains musings on search marketing, web analytics and why we don’t just feed the dog.
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We hear from newbie clients: Their web analytics tell them “this” and “that.” As we hear it, analytics are full of business wisdom, dictating advertising and search marketing decisions … which key word is Good, what distribution network is Better, and what PPC bid strategy is Best.
Take a closer look. Sure, web analytics offer valuable input for trend spotting, understanding user behavior and help measuring marketing success. But the operative word is HELP. Analytics are one tool in the marketing kit bag. And it’s a touchy tool, at that. Web analytics software can be very sensitive programming built on proprietary metrics. The huge data stream that analytics dumps into slick graphic reports demands interpretation, especially when you compare one company’s analytic apples to another’s pomegranates.
Am I saying ignore Google Analytics? Was Yahoo! foolish to play analytical catch-up buying IndexTools in early April to measure web behavior and paid search ROI??
Absolutely not.
All I’m saying here is that there is a Tribal Knowledge Algorithm you can’t ignore: It’s the collected knowledge of people who know your industry or product line, because they’ve worked it. It’s where Gut Instinct meets By-the-Numbers. It’s what still matters in successful business decisions.
Some in the search marketing biz dare to question 3,000-pound gorilla Google because Google relies on tech voodoo and search algorithms. Translation: Google depends on its proprietary search algorithms to go broad, horizontal and massively comprehensive, rather than organize around its users through their interests and their industries. (verticalizing)
Jim Meskauskas, director of online media for ICON International, observed that advertisers need not fear The Google after it acquired ad-serving network DoubleClick. Because marketing and advertising relies on ideas … and only humans have those. Successful campaigns don’t come from a another ad-buying auction technology or yet another intermediary in the ad-buying process. It’s still about the creative tribe and human strategy.
Because we don’t just feed the dog. ??
Says Jim: “If technology and engineering were the answers to all the questions, most businesses would consist of a machine, a dog and a man. The man would be there to feed the dog and the dog would be there to keep the man away from the machine.”
We run a lot of analytics here at TopTenWholesale. But we keep tribal knowledge and experience in the mix. We don’t just feed the dog.
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March 14th, 2008 |
Marie wrote a great article that is directly relevant to business owners on using free stuff: samples, downloads, chapters from a larger publication, training etc to market your business. Those of you out there going to trade shows know that there is a hardcore segment of the attendees who live for free stuff. Marie calls herself a free chapters junkie, I’m sort of similar but I gravitate more toward free whitepapers and free marketing ebooks. Anyway, it’s a good read if you are looking for innovative ways to market, and I should also point out how easy it is to find inexpensive promotional items
that fit your style and budget by searching Top Ten.
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January 15th, 2008 |
I saw a nice post about buying wholesale lists on one of the few wholesale blogs that isn’t just junk, and I think its a good topic for this blog to address.
Wholesale lists, I’m pretty sure, predate the internet, and they would have really been high-value publications back then — because how else would you find the locations and details of USA wholesalers prior to the web. You could go to the library and pore through 100 phone books I guess, but would you? Or you could find a trade magazine, but that’s even pretty difficult to find, they aren’t distributed widely. My former employer, distributed trade magazines at flea markets and swap meets, which is a good way to target your readership to the best available customers, but if you weren’t reselling through that venue, and you wanted to get the best possible deals (meaning get around working with a local or regional distributor) how would you have done it? Well, if you have the money that you can cut out a middleman that breaks bulk, you could probably afford to fly to a trade show, but, holy cow, isn’t there an easier way?
And thus we have the oft-rumored seldom seen wholesale lists. You give someone $40 and they sent you a neatly typed list of Company Names, Phone Numbers and Descriptions of Items Sold. That was a deal back then because if you were serious, you were likely to save more than that on the first order.
But, it really is a different ballgame now. The lists, like Salehoo and Worldwide Brands, are still what I consider a “hidden” competitor to my efforts over the years to get wholesalers’ products in front of the audience that really needs to use them. And they have responded to the competition that Top Ten Wholesale provides, with their (paid) membership areas, where they can offer updates, but really what they are going to do is try to sell you other products from their line. In truth they can’t compete with a web site like Top Ten or any of the other worthy wholesale search and directory web sites out there, because their model is to take money from the small reseller. Top Ten’s business model is older than the term “Web 2.0″ but taking information people normally charge for, making it free, and earning revenue through advertising opportunities for businesses that want to reach this newly-empowered audience is Web 2.0 all the way baby, much more so than rounded corners and blogs.
That doesn’t stop the listmakers, of course, it just makes them market against us. What kind of validates my theory that they ore the old school and we are the new school is that the practice the marketing technique known as FUD (fear, uncertainty and doubt) that was made famous by IBM. See, IBM revolutionized the world of information processing, from typewriters to supercomputers and pioneered a LOT of new markets. When the competition eventually came, IBM was already there, but they were a huge company and could easily lose market share to a better idea, more aggressive pricing, etc. So the IBM sales force (which was one of the most admired organizations in the world, many years ago) used a tactic that was described by a former employee turned competitor as “spreading FUD.”
The old quote is “Nobody ever got fired for recommending IBM” which really means “You could get fired if you recommend some fly-by-night company who will abandon you when its the middle of the night and your orders can’t be processed. Oh, did I mention that we can have a 6 person team there to fix it the next day?”
And that’s always the model. If you have competition, you find yourself saying eventually “you can’t trust those guys…” It happens. I just hope you are telling the truth when you say it.
Chris Malta, the CEO behind Worldwide Brands, will try to tell you that
“Real Product Sourcing Wholesalers are NOT in the Search Engines”
Hee Hee. I beg to differ, Mr Malta In fact, its not just this web site. I watch all the search engine competition and Google which used to really have a bunch of junk in their listings, now has seen the light and has pretty much indexed our customers too. They still leave junk all around them which makes it hard to use them to source products efficiently. Basically, Malta’s argument is that all the huge wholesalers don’t advertise on the Internet because they don’t want to be bothered with small retail customers. I could name about 20 huge wholesalers who’ve been around for 20, 30, 50 years who advertise on Top Ten. Malta says these people want to work with you, but you have to find them.
Wholesalers are advertising, wholesalers don’t just want your business, they need it. Are there giant wholesalers who don’t advertise very much beyond to the trade, because they have contractual understandings with their dealer network so they don’t accidentally steal customers from their bread and butter network. You bet. But, what happens when you get all Sherlock Holmes up in heah and find them and send them an email. “Hey What’s Up Mr Double Secret Wholesaler?” What happens is they refer you to their network of dealers So I guess Mr. Malta isn’t technically wrong. But, why don’t you just skip all that nonsense and search for the product you want
Whats my rule? If somebody ever tells you “Don’t bother doing that, it will never work” - They are trying to keep you away from doing it because they fear it will work. Hmm, fear, hey look “fear” is the first component of the FUD strategy.
Malta also says
Most of the wholesalers who do show up in the search engines are actually middlemen and scammers who are trying to cheat you out of your profit margin.
See, I can’t stand this kind of stuff. What if I came up to you and said “Don’t use the phone book. Most of the advertisers in there are scammers.” You would think I was crazy and you might also think “What else I am supposed to do if not use the phone book?’ That’s when I tell you that I have typed up a list of some of the best things I found in the phone book and you can have it for $79.99. Well, hey, maybe there’s a reason I don’t like the phone book, because I stand to make 80 bucks every time I can convince someone else not to like it, too. Chris Malta is the same way, he doesn’t like wholesalers in the search engines because they cost him money.
So here he is saying “You can’t trust something that’s free! Use my paid service” Here I am saying “Use my free service” Who has more credibility?