You can now use your mobile phone as a cash register!?!

A recent article featured in CNN discusses how a new app, called Square, let's users accept a credit card payment through their phone with a free app and a plastic card reader. The fee will be a $.15 charge plus 2.75 percent of the transaction cost - which the founder of the app, Jack Dorsey (who also is a co-founder of Twitter), says is in line with the industry.

Due to the fact that fewer and fewer people carry cash anymore, this new app could have huge implications on how many businesses conduct their transactions. Take, for example, a street vendor that sells t-shirts on the corner of Wrigley Field. Once can only imagine the additional amount of t-shirts that the vendor can sell if they also accept credit card in addition to cash.

For smaller, independent companies, this new app could provide the opportunity to sell to an entire separate clientele, thus generating additional revenue that previously would not have purchased their items simply because they did not carry enough cash.

As consumers, we are becoming more and more reliant on our smart phones and expect them to not only be at the peak of technology, but also to constantly improve upon themselves in order to make our individual lives easier. This is a perfect example of technology creating a use that consumers didn't even know they needed until it is available.

There is also some notoriety that comes with it being created by the co-founder of Twitter. I am interested to see how consumers adapt to this new technology and when (not if) this starts to integrate into everyday life.

What is the iPad being used for?

A recent study conducted by Nielsen stated that only 32% of iPad users questioned have downloaded or installed a single app. This is a very interesting statement, since the iPad is somewhat viewed as a technology piece that will change the way that people live their lives.

The question is - if consumers are not downloading apps, then what are they doing?

(source: Nielsen)

The draw of the iPad, from Apple's perspective, is not only the price to purchase the iPad, but the constant visitation of consumers to the apple app store so that they can continually be involved in the latest and greatest.

I would be interested to see if Nielsen is going to continue this research to find out what reason these consumers are purchasing and iPad if they are not going to use any of the apps available. Are they only downloading the free apps?

And, if so, was that worth the price of an iPad?

There are lots of insights that the marketing world can learn from this research.

This information can potentially affect the way that creating applications are approached. Is this a certain demographic that could potentially have apps created that target them specifically? If so, that is a complete untapped market!

Time will tell whether or not the iPad, and it's apps, are here to stay - and be used.

Are Facebook & Skype Going to Hold Hands?

A recent article in Cnn.com speaks about a rumored deal between Skype and Facebook. The article talks about a possiblity that these two social media powerhouses will integrate to the point where you can Facebook chat over cell phones. While it is still just a rumor, there is speculation that you can video chat with Facebook friends, or chat over a browser on cell phones (assumedly similar to a gchat session).

The real question is - do we want to interact with our facebook friends more than just learning about a short blurb about their day? I'd argue that Facebook is used more to stay up to date with those friends that you want to keep in your life vs. a way that you speak to your best friends on a day-to-day basis. While it would be great to have more opportunity to integrate different media options, most that are Facebook saavy are also Skype saavy.

Considering that one can assume that most people have similar friends on both Skype and Facebook, it would be useful to only have to go through one single system to video chat with friends and loved one's.

This partnership does have implications on social media as a whole. This will only further the integration and partnerships of the social media applications available. As consumers, we are getting more and more used to integration (i.e - we can pretty much do anything on our cell phone's these days), so are all of these different options going to integrate to the point where they are all transparent and we have one big social media hub? I don't know if that will happen, but I am open to see what happens next...

Can Twitter Finally Make Some Money?

A recent article about Twitter featured in msnbc.com discusses how Twitter is expected to announce on Tuesday that they are expected to offer "Promoted Accounts", which essentiallly is allowing Twitter to take ads to third party Twitter programs.

This may revolultionize Twitter and begin to establish it beyond just a really cool idea into the world of effective and measurable marketing tools. Without trackable and measurable advertising opportunites, it is likely that Twitter would fall into the same fate as Myspace or Frienster.

Having the ability to target your audience via the "Who to Follow" feature along with ensuring that your marketing message makes it to "relevant" followers, only further enhances this new marketing tool. While the traditional goal of a marketer is to create buzz and educate the masses, it is important that one is being conscious of how they are spending their marketing dollars. Just sending a message out into the internet world with hopes that it will find its way to your target market is a pie in the sky dream. Which is exactly why this new announcement is going to peak the interest of major corporations worldwide.

In fact, corporations Tweets are having more and more impact on their consumers. A recent study in the Consumerist found that, "75% of consumers think companies that Tweet or post Facebook updates are more deserving of their trust than companies that don't."

In conclusion, if done properly by Twitter and used properly by companies, this new option has the ability to make Twitter a real player in the marketing world.

Teach an Adult How to Use an App

I recently read an article on cnn.com that discussed the fact that fewer than 1 in 4 adults actually use apps on their phones. While I see how this is an obvious observation from a technology standpoint, I am curious what is being done to reduce the learning curve.

As a result, I did a quick search on the web asking, "What is a cell phone app?." I didn't really find anything that could be of much assistance to the adult population. The few items I did have were not very reader friendly or is just more advertising for apple.

So how do we expect adults to download apps and use them on their phone, if we don't clearly explain what they are or how to use them? Sure, apps have basic instructions on how to use them - but only if you've already found what app you want and have enough knowledge to know how to download it. What is lacking is the steps needed to get to that phase?

As a result, apps are not being used to the full potential. If there is a full market that is not using apps for the various uses, there is advertising and marketing spending and earning that is being severly missed.

Yes, eventually the current generation that is app-knowledgable is going to grow older and the knowledge gap is going to shrink, but for the time being, there is a huge market that is being ignored. These consumers aren't one's that are necessarily scared of using the new high-tech phones, but rather they are really just scared to ask for help. So, in conclusion, do your good deed of the day and teach an adult how to use an app!

MKT 595: Week 1 - Could you go one week without Facebook & Twitter?

I recently read an article on the Technolog on msnbc.com http://technolog.msnbc.msn.com/_news/2010/09/13/5101516-university-bans-facebook-twitter-for-one-week which is about a professor that challenged his students to go one week without both Facebook and Twitter. The objective was to observe habits and behaviors in the way that we use technology.

So, this made me think, could I last a week without Facebook and Twitter? And, if so, what implications would that have on both my life and marketing as a whole? Personally, I could probably live without knowing my friends’ opinions of Lada Gaga’s latest outfit or whose is no longer single. However, from a social aspect, there is a completely different viewpoint to consider.

Knowing what is going on is the impetus of marketing as we know it. As a marketer, it is part of the job description to be in the constant know of what is going on. I work with the CPG industry, and knowing the newest and upcoming product launches keeps me one step ahead of the competition. So, as a marketer, can one live without Facebook & Twitter?

I am going to say unequivocally no. Both Facebook & Twitter have become such a marketing phenomenon that one can not keep up in the marketing world without having the pulse of what is going on. With companies now hiring full time tweeters and companies constantly trying to enlarge their list of followers, being behind the eight ball for even a week can leave your company and it’s clients being perceived as a follower versus a leader.

In conclusion, taking a week off might provide you with some more time to actually have face to face conversations with your friends and family, but you’ll end up behind the boat in terms of the latest and greatest in the marketing world. I’d love to hear your opinion….