Wayne Lapasa

Sharing my Digital Marketing thoughts one post at a time.

Category: SMD 101

The Views Are Different Here Showcase Toronto In A New Light

Views.

Recently Tourism Toronto released their 2017 campaign to promote tourism in the city of Toronto. Needless to say, the reaction was extremely positive and receptive by many, including local Torontonians.  In the 71-second clip, the viewer is introduced to many quick shots showcasing various parts of the city, focusing on popular destinations in the city as well as hidden gems. J. Walter Thompson Canada directed the visual,  which features vocals performed by Toronto poet and singer Bethany Lee.

While the focus of this video is to promote Toronto tourism, it also doubles up as a civic pride exercise.  For many years, Toronto has constantly been labeled as a micro town comparable to the bright lights of its counterpart in New York city. However, in recent years the city affectionately known as “The 6” has established their own identity, their own culture and uniqueness.  Dubbed as “Canada’s Downtown”, a lot of locals took to social media praising the clip for demonstrating what they already knew about their city.

Diversity and Equality.

As Toronto is the most visited destination in Canada, the city does not discriminate.  It has one of the largest LGBTQ communities in the world and is home to a large array of diverse and unique cultures. The town openly welcomes new visitors who are looking to find a place both in their professional and personal lives.

With that mindset comes opportunities for multiculturalism and immigration to the city.   There are various pockets in Toronto that cater to different communities like Chinatown in Spadina, Little Italy on College street and Polish town in Roncesvalles to name a few. Toronto truly embraces and shows love in its vast diversity.

The world in one city.

Toronto no longer wants to blend anymore with other cities in the world.  It wants people to know that they clearly have their own established identity and are not afraid to break barriers down.  No longer does the city want to be known as the best kept secret, but to let the international audience know that culture wise there is a little bit of everything all in one city.  Last month I made a presentation highlighting this campaign, which you can check out below.

Live Streaming has arrived and it’s only going to get Bigger

Live Streaming is just getting started.

An emerging trend in digital media that caught waves this past year is Live Streaming.  We have seen companies like Periscope, Meerkat and Facebook Live tap into this growing phenomenon.  While this medium is still in its infancy, I believe it will be a larger player in 2017 as a popular story telling platform to watch out for.  In our current society, we want things done in real time…where we can absorb and digest visuals with minimal thinking. Live Streaming serves this purpose for the business user and personal end.

Live Streaming is a great businesses tool for a variety of reasons.  It allows consumers to see some of their favourite brands from a behind the scenes point of view.  Whether they are on location at a trade show for a product launch, companies give viewers unprecedented access, making you feel like you are part of the brand.  Using live video keeps users hooked into the product and up to date with all the latest happenings.

Live Streaming covers everything.

From a personal standpoint, we have seen just how popular Live Streaming can get.  The 2016 U.S. Presidential debate was the first of its kind to include this technology.  This past fall, Facebook Live alone garnered unprecedented 55 Million views in the war of words between Donald Trump and Hillary Clinton. Live video just isn’t about celebrating birthday parties or showing your babies’ first walking steps with your followers.  All realities of life are broadcasted. This was highlighted by Diamond Reynolds’ horrific post visual of her boyfriend Philandro Castile being shot four times by a police officer, raising the problems of racial tensions in America.

Overall, I believe we will see an increased amount of Live Streaming in 2017.  More companies will emerge through this platform and take advantages of the benefits it can offer.  It is a growing medium for companies to generate product awareness, potential video ad revenue and reach new audiences.

How to keep up with all these trends?

In terms of how I will stay relevant with constant changes in the digital sphere, I intend to stay glued to my smartphone.  Mobile has taken over desktop, and it is truly the central hub on how we connect with everyone.  Whether it’s checking the weather at breakfast, Shazaming that song on the radio, or simply connecting on multiple social media platforms, all the latest apps simplify my time when I’m on the go.  Believe it or not, I will also rely on the Facebook Trending Topics section of their site. Since I’m on there all the time, I am also getting information on what’s going on with the rest of the world.

I will also continue to stay engaged with influential blogger and established websites, who continue to keep me up to date with the latest developments in technology.  Content marketing still interests me, and reading up on the latest happenings is a major key.   In terms of Live Streaming, I definitely see the value in it and will push to become more comfortable in using this platform.  While we can take 12 pictures of ourselves and select the best one to publish, live video is one continuous shot, so all angles of you are off limits!  With that being said, check out my infograph below that I created with Canva on how to stay on top of emerging digital trends.

Best Practices on Staying Relevant with Digital Trends

Resources

DeMers, Jayson. “7 Online Marketing Trends That Will Dominate 2017.” Forbes. Forbes Magazine, 14 Nov. 2016. Web. 29 Nov. 2016. <http://www.forbes.com/sites/jaysondemers/2016/11/14/7-online-marketing-trends-that-will-dominate-2017/#5a3bf928dec8>.

Gaenzle, Anthony. “Staying on Top of Digital Trends to Stay Relevant to Students – Content Science Review.” Content Science Review. Content Science Review, 08 Nov. 2016. Web. 28 Nov. 2016. <http://review.content-science.com/2016/11/staying-on-top-of-digital-trends-to-stay-relevant-to-students/#>.

Harris, Jodi. “23 Things to Consider When Creating Video Content.” Content Marketing Institute. UBM, 11 Apr. 2016. Web. 28 Nov. 2016. <http://contentmarketinginstitute.com/2016/04/video-content-examples/>.

Hobson, Joshua. “How to Keep Up with Trends in Digital.” Statement. Cognitiv, 5 Feb. 2016. Web. 28 Nov. 2016. <https://www.statementagency.com/blog/2016/02/how-to-keep-up-with-trends-in-digital>.

“Trend Report: The Rise of Live Video Streaming.” Feedly. Feedly, 30 Apr. 2016. Web. 28 Nov. 2016. <https://blog.feedly.com/trend-report-the-rise-of-live-video-streaming/>.

Wilbert, Max. “Top 7 Live Video Streaming Trends for 2016 – DaCast.” DaCast. DaCast, 15 Sept. 2016. Web. 28 Nov. 2016. <http://www.dacast.com/blog/7-live-video-streaming-trends-2016/>.

Understanding how YouTube can better your Business

YouTube is Big Business

Since 2005, the world has gotten to know the phenomenon that is YouTube.  In the past decade, we have seen our fair share of various cat videos, cooking videos, DIY videos and much more.  Lately, the new trend are businesses gravitating towards investing into online videos.  While many will look at YouTube as just simply leisure and entertainment, it is more than that.  There is a significant amount of money that is being generated through this video sharing site.

I am trying to convince my business partner on taking this shoe boutique idea and turning it into a reality.  Obviously I want to drive physical traffic to the store.  But at the same time, I envision leveraging social media heavily by bringing digital traffic to our website as well.  I can visualize the creation of video product reviews, un-boxing videos to generate consumer excitement.  In doing so, I can provide insightful product knowledge as well.  The user generated content ideas are endless.  Ultimately,  I would want to increase our subscriber channel count.   This can lead to a sales conversion.  The potential to monetize this channel is very attainable  if we can incorporate the right content strategy.

With the help of Canva, I put together this SlideShare presentation for him to really see just how big YouTube is.  I wanted to provide some high level facts and more importantly showcase how this platform can really help launch a new business.  I also wanted to paint a picture of how an existing business that is lacking in digital presence can get on board with a  successful YouTube channel.

Two Business Strategies that compliment one another with some Helpful Links

Business Strategies 101

The first time I heard of S.W.O.T. Analysis, I had no clue what it meant. To be honest, the first thing that came to mind was probably this movie! So I started doing what mostly everyone who is tech savvy does and needs answers…I went ahead and did a Google search.  I typed in “What is SWOT analysis?” and the first result on the first page that came up was so informative, I spent at least 10 minutes on B Plans‘ post taking it all in.  I break it down in the first half of my video post above that I want to share with you.  I now know if I ever end up deciding to open up my own sneaker boutique, I will definitely start with this business strategy.

So let’s say for example I end up opening this sneaker shop of mines and it takes off.  I then imagine myself at the 5-year mark of my business and I have to re-evaluate some of the products that I carry in my store.  What should I keep and what should I let go?  I found this resourceful YouTube video by The Revision Guide that talks about the foundation of the BCG Matrix strategy, which is great for existing businesses who need to continue with their long-term strategic planning.  It is not a complex strategy to learn, but just like the video itself, it provides the fundamental understandings of what is working and what is not. Check out my critique in the second half of my video review on these two helpful resources.  Note to self: It’s time to upgrade my laptop with a built-in HD camera!

Citations

Berry, Tim. “What Is a SWOT Analysis?” Bplans Blog What Is a SWOT Analysis Comments. Palo Alto, 11 Aug. 2016. Web. 09 Oct. 2016. <http://articles.bplans.com/how-to-perform-swot-analysis/>.

Hanlon, Annmarie. “How to Use the BCG Matrix Model.” Smart Insights. YouTube, 12 Jan. 2016. Web. 11 Oct. 2016. <http://www.smartinsights.com/marketing-planning/marketing-models/use-bcg-matrix/>.

Portfolio Analysis – Boston Matrix / BCG Matrix. Prod. Apsara Sumanasiri. Https://www.youtube.com//RevisionOnline. YouTube, 8 June 2014. Web. 09 Oct. 2016. <https://youtu.be/1gZmmlKl6uk>.

Taylor, Nicole Fallon. “SWOT Analysis: What It Is and When to Use It.”Business News Daily. Purch, 01 Apr. 2016. Web. 09 Oct. 2016. <http://www.businessnewsdaily.com/4245-swot-analysis.html>.

Strategy vs. Tactics…You can’t have one without the other!

Do you ever wonder how some of the biggest companies in the world maintain a high level of business with their customers? What  did they do differently that separates them from their competitors?  Which business strategy did they use to achieve this?  What specific tactics were implemented to get the results they wanted?  It is imperative to dive in and look at what actually separates a strategy from a tactic and vice versa.  While they may both sound similar and are used usually within the same sentence, let’s dig deeper to break down why both terms differ from one another.

What Do They Mean By Strategy?

The term strategy is often referred to as “a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.”  It is commonly used when a business sets out an agenda and looks for ways to execute it in a long term capacity.  Some of our favorite brands that we have grown to love and adore have been made possible because of the tactics they have implemented.  Tactics are essentially various processes done in real time that are measured quantitatively and qualitatively.  There is a combination involved of multiple skill sets and tools that are the foundation of a tactic. While strategy involves diligent planning with an end goal, tactics works with given resources that attempts to achieve the objective of a given strategy.

Big Businesses Lead By Example

The only way to stand out from your competition, is to literally be different from your peers.  It is about gaining a competitive edge and getting that dominant market share in the financial landscape.  Walmart for example has perfected this.  They evolved from a discount store concept to the largest retailer in the world by using a cost strategy of keeping their operating costs low and at the same time reaping the profits over their nearest competitors.  Apple continues to sell high end tech gadgets and people consume them at record paces.  They have established an identity of selling unique, simplified products which come at a high price point – this cost strategy is known as an Overall Differentiation.  Furniture giant Ikea has also managed to master their market by doing things differently as well, with everything from their design process, to packaging and manufacturing being completely different from their competitors.   Ultimately companies that can address who they compete with, how they can stand out from them, how they will achieve this and what overall value they can bring to the table is what matters most.  The above three mentioned companies incorporate all elements of what is known as the S.M.A.R.T philosophy, which looks at completing such goals by addressing every letter in the acronym with proper validation.

From the Boardroom to the Hardwood?

While the terms strategy and tactics may be executed in the boardroom, who’s not to say the same methods cannot be applied on the hardwood floor?  Take for instance the 6-time NBA World Champion Chicago Bulls, who gained a competitive advantage over their opponents by outsmarting them at both ends of the floor.  In particular, their 1996 squad went on hold a then NBA best 72-10 regular season record that was capped off by the franchise’s fourth title win.  Their team strategy was to be the best team in the league.  How they got there was attributed through their main playbook tactic, highlighted by head coach guru Phil Jackson’s use of the triangle offense.  And while some say tactics are often done below the shoulders, the Bulls were so dominant mainly because they had a weapon in a guy who simply played above the rim…his name was Michael Jordan.  In this example, the coach delivers the given strategies and it is the player(s) who are the tactics who must make the plan come to fruition.

It’s important to understand that strategy and tactics do not mean the same thing.  You always with a strategy of ideas that you set out, but you will need to have a process of tactics to get the job done.  In comparison, the two terms are synonymous with one another.  While they are interchangeable, they also definitely rely on one another.  It is unfavorable to have a set of tactics in place without any leadership of ideas.  The end result will be chaotic and pointless.  When you are able to ensure that you have a solid foundation of tactics which are outlined by an effective business strategy, you will see the desired end result of success.

Citations

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