If your clients could buy out all of the display ad (banner) space on 971TheFan.com for an entire day (streaming pre-roll and web players not included), what do you believe a reasonable price would be for this sort of exclusivity?
Please use the poll below to choose one of the preset prices, or enter a price of your own...
Your participation will help as we create web sales strategy for the coming year. Watch for more of these quick and simple polls in the future.
Thanks for sharing your opinion!
Showing posts with label Strategy. Show all posts
Showing posts with label Strategy. Show all posts
Friday, October 09, 2009
Wednesday, September 16, 2009
Did You Know 4.0
This is another official update to the original "Shift Happens" video. This completely new Fall 2009 version includes facts and stats focusing on the changing media landscape, including convergence and technology, and was developed in partnership with The Economist. For more information, or to join the conversation, please visit http://mediaconvergence.economist.com/ and http://shifthappens.wikispaces.com/.
Content by XPLANE, The Economist, Karl Fisch, Scott McLeod and Laura Bestler. Design and development by XPLANE, http://www.xplane.com/.
Tuesday, September 15, 2009
Accountability is King
From today's Inside Radio:
Marketers Seek Accountability
Do more with less isn’t just radio’s operating standard. A new survey shows two-thirds of marketers are being told by their companies to drive more sales with the same or lower budget -- and three-quarters say their marketing budget has shrunk this year. Facing that challenge, accountability has taken on a much greater significance.
The St. Louis Business Journal report the same trend in their article about ad agencies taking a hit from Anheuser-Busch spending...
Anheuser-Bush has changed it's "free-wheeling, let’s-give-it-a-try attitude" for a more "scrutinized and calculated" results-based approach.
From the article...
"A-B has always been good at listening to agencies with good ideas. But now you’ve got to do more back-end research,” Litwicki said. “The way they make decisions is a lot more mathematical. It used to be enough to do brand building and create an image that would ultimately drive sales. Now they also want to see the component that will actually incentivize the consumer to pick up the product. When you come in with those solutions, they are very receptive."
Measurable results are beginning to matter more and more to advertisers, and they are cutting spending with their agencies to find marketing resources elsewhere who can provide those results. As the article above states, when you have an idea that is based on delivering actual results (rather than just another branding campaign) companies are ready to listen.
Marketers Seek Accountability
Do more with less isn’t just radio’s operating standard. A new survey shows two-thirds of marketers are being told by their companies to drive more sales with the same or lower budget -- and three-quarters say their marketing budget has shrunk this year. Facing that challenge, accountability has taken on a much greater significance.
The St. Louis Business Journal report the same trend in their article about ad agencies taking a hit from Anheuser-Busch spending...
Anheuser-Bush has changed it's "free-wheeling, let’s-give-it-a-try attitude" for a more "scrutinized and calculated" results-based approach.
From the article...
"A-B has always been good at listening to agencies with good ideas. But now you’ve got to do more back-end research,” Litwicki said. “The way they make decisions is a lot more mathematical. It used to be enough to do brand building and create an image that would ultimately drive sales. Now they also want to see the component that will actually incentivize the consumer to pick up the product. When you come in with those solutions, they are very receptive."
Measurable results are beginning to matter more and more to advertisers, and they are cutting spending with their agencies to find marketing resources elsewhere who can provide those results. As the article above states, when you have an idea that is based on delivering actual results (rather than just another branding campaign) companies are ready to listen.
Monday, July 20, 2009
Marketing to Inactive List Members
Some marketers feel that if a member of their email list has been inactive for a great length of time, that the list might be better served by deleting the name -- even if the list member themself has not requested to be unsubscribed. This has to do with the ego and expectations of the list owner more than the preference of the list member.
They say:
Account for 10% of your total annual sales, or even generate over $115,000 in a single campaign!
The DMA Email Marketing Blog has an interesting post up redefining "inactives" as "emotionally unsubscribed." They cite several instances where a significant number inactive list members have been triggered to take action based on their personal 'itch cycle.'
In one case, over $115,000 dollars was generated by making a special offer (a really great offer) to those list members who'd not click on the previous 25-40 past offers. Another statistic showed that over 10% of the revenue generated in 2008 had been contributed to the bottom line by list members who had not opened or clicked a single message in the previous year.
The lesson is to not over-obsess about inactive members on your list. Just because not everyone feels compelled to read every single missive you send, doesn't mean they won't remember you when their needs match your offers.
They say:
- Inactive list members create lower percentages of open rates
- Inactive list members lower the ratio of clicks
- Inactive members lower the percentage of return on investment
Account for 10% of your total annual sales, or even generate over $115,000 in a single campaign!
The DMA Email Marketing Blog has an interesting post up redefining "inactives" as "emotionally unsubscribed." They cite several instances where a significant number inactive list members have been triggered to take action based on their personal 'itch cycle.'
In one case, over $115,000 dollars was generated by making a special offer (a really great offer) to those list members who'd not click on the previous 25-40 past offers. Another statistic showed that over 10% of the revenue generated in 2008 had been contributed to the bottom line by list members who had not opened or clicked a single message in the previous year.
The lesson is to not over-obsess about inactive members on your list. Just because not everyone feels compelled to read every single missive you send, doesn't mean they won't remember you when their needs match your offers.
Tuesday, July 14, 2009
How Does Your Marketing Measure Up?
Read a great article in the latest MarketingProfs "Get To The Point" newsletter on Marketing Analytics. They recap a post from the Email Experience Blog on measuring the success of email marketing campaigns. This specifically addresses email, but the principle applies to ALL marketing efforts and the importance of pre-establishing metrics for success.
The blog post says data gathered on email marketing campaigns might not be as useful as you think. "Real danger lurks in not measuring the right factors or not measuring accurately. You could suffer lost revenue. You might not know which messages are working. And your sales team won't know what to focus on."
There are just SO many different things you can measure in marketing (especially online marketing), that it's extremely difficult to agree upon industry benchmarks in order to make effective comparisons. People are focusing on impressions or clicks or only those clicks that lead to a single sale.
The purpose of any marketing is to trigger an ACTION. Actions could include:
The blog post says data gathered on email marketing campaigns might not be as useful as you think. "Real danger lurks in not measuring the right factors or not measuring accurately. You could suffer lost revenue. You might not know which messages are working. And your sales team won't know what to focus on."
There are just SO many different things you can measure in marketing (especially online marketing), that it's extremely difficult to agree upon industry benchmarks in order to make effective comparisons. People are focusing on impressions or clicks or only those clicks that lead to a single sale.
The purpose of any marketing is to trigger an ACTION. Actions could include:
- Forward to a friend
- Signing up for a mailing list or additional informaiton
- Visit to a physical store location
- Attend an event
- Buy a product
Tuesday, June 30, 2009
Who's Yer GoDaddy?
Bob Parsons of GoDaddy.com is doing a great job of providing entertaining, yet informative, video content for his customers. What sort of content, advice, and expertise are you providing to YOUR clients?
Sunday, May 31, 2009
Meaningful Online Engagement
Heard of a new book today called "Dot Boom" about how to created meaningful online messages that engage the Boomer generation. I visited the book's website (http://www.dotboombook.com/) and watched a 45-minute presentation by co-author David Weigelt. Definitely worthwhile...
My favorite bit was a quote he used from Albert Einstein:
"Not all that can be counted counts and not all that counts can be counted."
~Albert Einstein
What a great seque line to use the next time someone wants to focus on CPM pricing instead of achieving results!
Wednesday, March 25, 2009
Social network ads are tough sell to Gen-Y
Seeking to grab the attention of Gen Y's on social networks? Better put away the old online display ads if you're seeking to grab the attention of Gen Y's on social networks. A new study by the Participatory Marketing Network and Pace University shows traditional banner ads to be ineffective to young adults aged 18-24.
Researchers asked a group of Gen Y's if they notice ads at all when navigating through a social community, and if they approve of them. While 84% said they notice ads on social networks, only 19% said they find them "relevant."
Researchers also found that 74% of the young consumers in the study click on social network ads "infrequently," and 36% don't click on the ads at all.
There were a few signs of hope in the results --
62% of the respondents said they have "visited a brand or fan page on a social network" and 48% said they have "become a fan or friend of the company or organization" showcased on a brand or fan page.
The top three reasons respondents cited for joining a brand or fan group were: get product updates ( 67%), view promotions (64%) and view or download music videos (41%).
Read full article: http://www.internetretailer.com/dailyNews.asp?id=29703
Researchers asked a group of Gen Y's if they notice ads at all when navigating through a social community, and if they approve of them. While 84% said they notice ads on social networks, only 19% said they find them "relevant."
Researchers also found that 74% of the young consumers in the study click on social network ads "infrequently," and 36% don't click on the ads at all.
There were a few signs of hope in the results --
62% of the respondents said they have "visited a brand or fan page on a social network" and 48% said they have "become a fan or friend of the company or organization" showcased on a brand or fan page.
The top three reasons respondents cited for joining a brand or fan group were: get product updates ( 67%), view promotions (64%) and view or download music videos (41%).
Read full article: http://www.internetretailer.com/dailyNews.asp?id=29703
Thursday, February 12, 2009
Branding vs. Awareness
The PR News Blog has a nice post on the difference between branding and awareness...
"Often people mistake branding with awareness. Awareness is fleeting. Like a fireplace -- there's fire as long as you're feeding it logs. Branding is the ability to leave the family room and still feel the glow of the fire within."
I also liked their advice on making sure your brand possesses the four tenets of branding: intellectual, intuitive, emotional, value-based.
A good article to keep in mind when discussing awareness and branding campaigns with clients.
"Often people mistake branding with awareness. Awareness is fleeting. Like a fireplace -- there's fire as long as you're feeding it logs. Branding is the ability to leave the family room and still feel the glow of the fire within."
I also liked their advice on making sure your brand possesses the four tenets of branding: intellectual, intuitive, emotional, value-based.
A good article to keep in mind when discussing awareness and branding campaigns with clients.
Wednesday, September 24, 2008
If You MUST Use Banners...
...at least try and use them more effectively.
In his article "The X Factor: Why banners fail" Sean X. Cummings shares some valid theories on why our sidebar 160x600 ads get better click-through rates than the 728x90 located at the top of the page.
From the article:
In his article "The X Factor: Why banners fail" Sean X. Cummings shares some valid theories on why our sidebar 160x600 ads get better click-through rates than the 728x90 located at the top of the page.
From the article:
One of the greatest failings of the banner format is that it is peripheral to the content and not interruptive.
We all evolved as predators. Why is that relevant? Predators evolved with peripheral vision that picks up movement better than what's right in front of you. Their peripheral vision picks up ticks in movement and changes in speed better than smooth, clean movement.
Ah, now you're starting to get it --
Have.
The.
Banner…….[pause]
React.
[pause]
[pause]
[pause] Move. [pounce] Like it's stalking prey.The consumer's eye will instinctively glance to see what it is. Don't be impressed with your smooth, animated banner approved in isolation of the consumer. It looks nicer but will not achieve your main objective: the attention of the consumer.
The technique won't work for every business or every campaign. Sean adds "It's a very effective strategy depending on your business model. An impression does not mean that the consumer ever saw the ad, it just means that the ad server delivered the 'opportunity' to see an ad. Aim for peripheral focus in your ad creation and increase the effectiveness of your campaigns."
He ends the article with line -- which is valuable advise no matter which media you're using. "Don't create ads that annoy us."
Friday, September 05, 2008
Brilliant Billboards Could Be Leaderboards
Here's a great example of an outdoor campaign that could easily be translated into an online campaign using our 728x90 Leaderboard banners.
Even more interesting than the campaign itself is the backstory of how it all came together and was actually executed. Click here for the full story.
Which of your clients might benefit from the creation of a compelling storyline...
Missed romance at a traffic light with that cute guy driving a TOYOTA?
A long-lost friend spotted in the aisles at KROGER?
What other variations can you create?
Thursday, August 28, 2008
Got Opt-Ins? ..Now What??
So, your client ran a promotion with you that contained some sort of sign-up form which offered an "opt-in" -- a mechanism used to allow our audience to signal their interest in receiving additional information from the Advertiser. The individuals who choose to opt-in can then be used to develop permission-based marketing programs by our clients.
The very WORST thing an Advertiser can do is to let these most-qualified and most-interested leads (they responded to the Advertiser's message AND gave them permission to be contacted!) is to let them fade away unused. You wouldn't hang up the phone on someone who called your office and said they wanted to buy something, would you? The more time that passes between a person opting-in to a list and actually being contacted increases the likelyhood they will have forgotten theay actually signed up for the list in the first place and will either immediately opt-out of the first message they receive -- or worse yet -- report the message as SPAM, which can get the Advertiser immediately blacklisted by many email services (like gmail, yahoo, and aol.)
Here is some excellent advice from Kevin Sinclair at How-To B2B Articles on what your client can do to effectively build relationships with their new opt-in audience.
Tip of the Week
Want to cut word count and boost readership in one step? Showcase a Tip of the Week. You can easily brainstorm enough content for six months of weekly newsletters (you need to come up with 24 tips, which you will present weekly.)
Checklists
A good checklist is like a step-by-step how-to. Turn a lengthy advice column into one. Checklists can save a lot of time, and your readers will be delighted to get one.
Before-and-After
Who doesn't like makeovers? This is a great way to interact with clients. Invite them to send in details of whatever needs a makeover: an article, a website page, their wardrobe, then present brief solutions -- or ask for examples of their own in-house makeovers.
Source: How-To B2Barticles. Read the full article here.
The very WORST thing an Advertiser can do is to let these most-qualified and most-interested leads (they responded to the Advertiser's message AND gave them permission to be contacted!) is to let them fade away unused. You wouldn't hang up the phone on someone who called your office and said they wanted to buy something, would you? The more time that passes between a person opting-in to a list and actually being contacted increases the likelyhood they will have forgotten theay actually signed up for the list in the first place and will either immediately opt-out of the first message they receive -- or worse yet -- report the message as SPAM, which can get the Advertiser immediately blacklisted by many email services (like gmail, yahoo, and aol.)
Here is some excellent advice from Kevin Sinclair at How-To B2B Articles on what your client can do to effectively build relationships with their new opt-in audience.
Tip of the Week
Want to cut word count and boost readership in one step? Showcase a Tip of the Week. You can easily brainstorm enough content for six months of weekly newsletters (you need to come up with 24 tips, which you will present weekly.)
Checklists
A good checklist is like a step-by-step how-to. Turn a lengthy advice column into one. Checklists can save a lot of time, and your readers will be delighted to get one.
Before-and-After
Who doesn't like makeovers? This is a great way to interact with clients. Invite them to send in details of whatever needs a makeover: an article, a website page, their wardrobe, then present brief solutions -- or ask for examples of their own in-house makeovers.
Source: How-To B2Barticles. Read the full article here.
Wednesday, July 30, 2008
Goodbye Yellow Pages?
Borrell Research predicts 39% of yellow page revenues will vanish as local advertisers shift spending to the internet.
This doesn't mean one less competitor for your Radio dollars!
Other Borrell findings report there are now more than 34,000 local sales reps peddling online products -- more than for any other medium. The chart at right shows that 84% of these reps are being fielded by newspaper and yellow pages companies, all cross-training sales reps to rush toward their most-promising growth opportunity. To date, and in the foreseeable future, directory companies have fared better than any other legacy media at this strategy, garnering about 14% of their total gross revenues from online sales.
Their report also details how online video commercials have emerged as the fastest-growing online ad format for small businesses. By 2012, they expect streaming video advertising to surpass all other formats, including banners and paid search. The report includes local online spending estimates for search advertising and streaming video for 210 markets.
My advice is to continue focusing on the task of finding a real customer need -- the one that goes beyond driving traffic, selling more ('whatevers'), and branding/awareness. Find the customer's pain and create a custom marketing strategy that integrates Radio and Web to provide both audience reach and message trackability in order to take their pain away. Solve the real problem and you'll have a customer for life.
Wednesday, July 09, 2008
VBR: Staycations
With the already established MixFunGuide.com and TheFanGuide.com websites, the trend toward families cutting costs by reducing the travel and expense of their family vacation is a prime marketing challenge for our advertisers and real revenue opportunity for the creative account executive.
The latest buzzword for the trend mentioned above is "Staycation" and here is some information that can help you craft a compelling VBR that gains the attention of your prospects...
Let's start with Weber, the grill-maker, which released some survey results last month that say this is the summer of staycations and grilling. They surveyed over 1,000 people and received some interesting results:
Wal-Mart is making things interesting for consumers, with its subsite makeyourdollarstretch.com and a downloadable desktop Widget called 101 Days of Summer Staycations.
The Staycation trend may have been created the need to cut spending on the rising cost of gasoline (and everything else!) but it may also have been created to help the innovative marketing professionals earn additional profits this summer!
The latest buzzword for the trend mentioned above is "Staycation" and here is some information that can help you craft a compelling VBR that gains the attention of your prospects...
Let's start with Weber, the grill-maker, which released some survey results last month that say this is the summer of staycations and grilling. They surveyed over 1,000 people and received some interesting results:
- Among grill owners planning staycations, a whopping 80% plan to grill weekly
- 41% plan to grill at least several times each week
- Once having the term explained to them, 51% of the respondents said they plan to take one or more staycations this summer
- 24% who are changing their traditional summer vacations to include a staycation this year
- 40% say they plan to try new grilled foods or grilling recipes
- 13% plan to purchase a new outdoor grill this summer
- 7% plan to update or improve their current grill
- Others plan on buying grilling accessories (11%) or a grilling cookbook (8%)
- In Pennsylvania The Constitutional Walking Tour of Philadelphia is pushing its staycation not only as inexpensive and educational, but as a green-friendly trip.
- Connecticut created a web site that highlights staycation destinations in the Constitution State and offers discounts to many of those places.
- The Arlington (Texas) Convention & Visitors Bureau has a local and regional campaign designed to get the locals to go to Six Flags Over Arlington and spend the night with the family in a hotel.
Wal-Mart is making things interesting for consumers, with its subsite makeyourdollarstretch.com and a downloadable desktop Widget called 101 Days of Summer Staycations.
The Staycation trend may have been created the need to cut spending on the rising cost of gasoline (and everything else!) but it may also have been created to help the innovative marketing professionals earn additional profits this summer!
Friday, June 06, 2008
Ad Networks Devalue Content Power
Great, great, GREAT article about ESPN's view of the value of their web content versus the commoditization of internet advertising.
ESPN Turns Off Ad Nets
Excerpts from the article:
Top Web publishers are planning a revolt. Even as more prominent sites experiment with selling remnant inventory through online ad networks, and in some cases ad exchanges, ESPN.com is saying thanks, but no thanks.
ESPN's decision crystallizes a philosophical debate in the online ad sales industry that has intensified since the Interactive Advertising Bureau's annual meeting last month when during a keynote address, Martha Stewart Living Omnimedia media president Wenda Harris Millard gave her now famous warning against selling Web inventory like "pork bellies."
Two sides have formed—those who want to protect traditional, direct selling of premium content brands and the math-loving crowd that favors automation and data. The math lovers make the traditional sellers nervous."There is a genuine concern about commoditization of brand inventory by some of the networks," said Millard in an interview.
...ESPN, see networks as profiting on their brand investments and their user data, while also threatening their own marketer relationships. Many just think using networks devalues the power of content.
ESPN Turns Off Ad Nets
Excerpts from the article:
Top Web publishers are planning a revolt. Even as more prominent sites experiment with selling remnant inventory through online ad networks, and in some cases ad exchanges, ESPN.com is saying thanks, but no thanks.
ESPN's decision crystallizes a philosophical debate in the online ad sales industry that has intensified since the Interactive Advertising Bureau's annual meeting last month when during a keynote address, Martha Stewart Living Omnimedia media president Wenda Harris Millard gave her now famous warning against selling Web inventory like "pork bellies."
Two sides have formed—those who want to protect traditional, direct selling of premium content brands and the math-loving crowd that favors automation and data. The math lovers make the traditional sellers nervous."There is a genuine concern about commoditization of brand inventory by some of the networks," said Millard in an interview.
...ESPN, see networks as profiting on their brand investments and their user data, while also threatening their own marketer relationships. Many just think using networks devalues the power of content.
Monday, February 04, 2008
Sales Resources
90% of successful selling comes from continuing to educate yourself and staying self-motivated. Sales guru and best-selling author Jeffrey Gitomer calls it "kicking your own ass." Here's a list of some super sales resources that will help you improve in these all too important (and all too often overlooked) areas of sales success.
The Brand Called YOU
The Earth-shaking article that EVERY salesperson should read as they seek an identity in their industry.
SalesCaffeine eNewsletter
Weekly sales advice from Jeffrey Gitomer.
NametagTV.com
Scott Ginsberg is the master of approachability. Tune into his new web TV channels on Sales, Marketing, Service, and Entrepreneurship and be inspired by his fresh approach to business.
SalesRepRadio.com
Weekly online audio interviews with sales leaders.
JustSell.com
Daily inspirational quotes and lessons on how to be a better seller. Be sure to take a look at their archive of desktop wallpapers and free ebooks.
PromoXtra eNewsletter
Excellent daily e-blast with news on all things promotional. One of my favorite resources for ideas and sponsorship leads.
The Advertising Show
Weekly audio program on selling, marketing, and product development.
3-Minute AdAge
Daily video reports from AdAge.com
MarketingProfs "Get To The Point" eNewsletters
The MarketingProfs new "Get To The Point" series of newsletters are brilliant bite-size bits of marketing insight.
I have dozens of other favorite resources, but this is the short list. Use the comments section below to add YOUR favorites to this post.
The Brand Called YOU
The Earth-shaking article that EVERY salesperson should read as they seek an identity in their industry.
SalesCaffeine eNewsletter
Weekly sales advice from Jeffrey Gitomer.
NametagTV.com
Scott Ginsberg is the master of approachability. Tune into his new web TV channels on Sales, Marketing, Service, and Entrepreneurship and be inspired by his fresh approach to business.
SalesRepRadio.com
Weekly online audio interviews with sales leaders.
JustSell.com
Daily inspirational quotes and lessons on how to be a better seller. Be sure to take a look at their archive of desktop wallpapers and free ebooks.
PromoXtra eNewsletter
Excellent daily e-blast with news on all things promotional. One of my favorite resources for ideas and sponsorship leads.
The Advertising Show
Weekly audio program on selling, marketing, and product development.
3-Minute AdAge
Daily video reports from AdAge.com
MarketingProfs "Get To The Point" eNewsletters
The MarketingProfs new "Get To The Point" series of newsletters are brilliant bite-size bits of marketing insight.
I have dozens of other favorite resources, but this is the short list. Use the comments section below to add YOUR favorites to this post.
Thursday, December 27, 2007
Does Your Marketing Volume Go To "11"?
I am re-reading a couple favorite marketing books during my last-of-2007-vacation-time, and came across a great analogy in John Moore's Tribal Knowledge: Business Wisdom Brewed From the Grounds of Starbucks Corporate Culture.
It's from "Tribal Truth #8" wherein John draws a comparison to marketing strategies being more commonly akin to an on/off switch versus a volume control knob. The analogy seemed especially appropriate for Radio advertising campaigns, and blends perfectly with a well-planned Web component.
When a client considers an advertising campaign, it's either an active schedule that is on the air or off the air. The duration and frequency is dictated by budget restrictions, and the common goal is to turn "on" the marketing campaign and bombard the audience for as long as their ad dollars hold out, and then turn "off" the marketing and hope the message momentum will carry forward long enough to bring about future customer purchases.
Starbucks' strategy was to look upon marketing as a constant flow that could be dialed up or down depending on the need to influence their audience. There were radio and print ads, but usually it was in-store marketing, word-of-mouth, etc. The mainstream media was only used to dial-up the knob and increase the marketing "volume" to allow more people to hear their message.
Consider this in regard to Radio+Web marketing strategy:
The addition of a Web component can help an advertiser's ad dollars go farther. The comparatively lower investment allows the client to maintain a constant level of 'marketing volume' and then turn the control knob to "11" by adding Radio components during times of greater need.
Actually, a steady marketing 'volume' maintained Online will allow the increased volume of additional Radio to work more effectively -- their Web efforts pay-off by building brand awareness so that the Radio message doesn't need to work quite so hard to break through the clutter. The Advertiser will have already been introduced to (and built a relationship with) our Listeners. You may want to reference a blog entry from July of 2007 in which I shared a study that showed Web+Radio demonstrated a 27% ability to recall vs. a 6% recall for using Web-only ads.
Maintaining a constant Web presence and increasing the message 'volume' with Radio as-needed is a great way to help a client's ad dollars work more effectively on their behalf. Try using this Volume Control vs. On/Off Switch comparison the next time you're speaking with a client. It's a great way to tell a compelling story about a 'sound' (...had to slip in a pun!) marketing strategy.
To learn more about John Moore's book (and read all the Tribal Truths) visit: http://tribalknowledge.biz/
NOTE: In case you were wondering, the headline is a reference from the movie "This is Spinal Tap" (for all you heathens.)
It's from "Tribal Truth #8" wherein John draws a comparison to marketing strategies being more commonly akin to an on/off switch versus a volume control knob. The analogy seemed especially appropriate for Radio advertising campaigns, and blends perfectly with a well-planned Web component.
When a client considers an advertising campaign, it's either an active schedule that is on the air or off the air. The duration and frequency is dictated by budget restrictions, and the common goal is to turn "on" the marketing campaign and bombard the audience for as long as their ad dollars hold out, and then turn "off" the marketing and hope the message momentum will carry forward long enough to bring about future customer purchases.
Starbucks' strategy was to look upon marketing as a constant flow that could be dialed up or down depending on the need to influence their audience. There were radio and print ads, but usually it was in-store marketing, word-of-mouth, etc. The mainstream media was only used to dial-up the knob and increase the marketing "volume" to allow more people to hear their message.
Consider this in regard to Radio+Web marketing strategy:
The addition of a Web component can help an advertiser's ad dollars go farther. The comparatively lower investment allows the client to maintain a constant level of 'marketing volume' and then turn the control knob to "11" by adding Radio components during times of greater need.
Actually, a steady marketing 'volume' maintained Online will allow the increased volume of additional Radio to work more effectively -- their Web efforts pay-off by building brand awareness so that the Radio message doesn't need to work quite so hard to break through the clutter. The Advertiser will have already been introduced to (and built a relationship with) our Listeners. You may want to reference a blog entry from July of 2007 in which I shared a study that showed Web+Radio demonstrated a 27% ability to recall vs. a 6% recall for using Web-only ads.
Maintaining a constant Web presence and increasing the message 'volume' with Radio as-needed is a great way to help a client's ad dollars work more effectively on their behalf. Try using this Volume Control vs. On/Off Switch comparison the next time you're speaking with a client. It's a great way to tell a compelling story about a 'sound' (...had to slip in a pun!) marketing strategy.
To learn more about John Moore's book (and read all the Tribal Truths) visit: http://tribalknowledge.biz/
NOTE: In case you were wondering, the headline is a reference from the movie "This is Spinal Tap" (for all you heathens.)
Thursday, November 08, 2007
The Biggest Retailer's Biggest Marketing Tool
Arguably the nation's biggest retailer (perhaps the world's biggest retailer) is Wal-Mart, but what does this industry giant consider it's biggest marketing tool? Their website.
Walmart.comhas become the physical store's marketing megaphone. The retailer plans to tap the web site to announce several online and in-store promotions that will run from Thanksgiving Day through the following week.
Wal-Mart expects 800 million visits to its web site, but Wal-Mart execs are smart enough to understand that not all consumers coming to the site will make purchases, especially around the holidays. Many will go online to research potential buys. In fact, Walmart.com CEO Raul Vazquez estimates many of the 10 million people who visit Walmart.com on Thanksgiving Day will end up in the store on Friday.
Tapping into their online audience, WalMart.com will start running about 100 special sales, rather than the 50 items featured last year. The site will reveal new "secret sale" items daily. But, before the secret items become available online, consumers who opt-in by texting the keyword "save" to 96278 (WMart) will receive a text alert when WalMart.com reveals the product information on the site.
With so many businesses chasing after Wal-Mart's successes, a strong internet strategy can be the great equalizer. There's nothing in Wal-Mart's game plan that can not be duplicated (or improved) by one of our own advertising clients.
Walmart.comhas become the physical store's marketing megaphone. The retailer plans to tap the web site to announce several online and in-store promotions that will run from Thanksgiving Day through the following week.
Wal-Mart expects 800 million visits to its web site, but Wal-Mart execs are smart enough to understand that not all consumers coming to the site will make purchases, especially around the holidays. Many will go online to research potential buys. In fact, Walmart.com CEO Raul Vazquez estimates many of the 10 million people who visit Walmart.com on Thanksgiving Day will end up in the store on Friday.
Tapping into their online audience, WalMart.com will start running about 100 special sales, rather than the 50 items featured last year. The site will reveal new "secret sale" items daily. But, before the secret items become available online, consumers who opt-in by texting the keyword "save" to 96278 (WMart) will receive a text alert when WalMart.com reveals the product information on the site.
With so many businesses chasing after Wal-Mart's successes, a strong internet strategy can be the great equalizer. There's nothing in Wal-Mart's game plan that can not be duplicated (or improved) by one of our own advertising clients.
Monday, October 22, 2007
Selling The Way Businesswomen Buy
Deloitte & Touche associates are approaching women clients differently than men based on lessons learned from observing women's shopping behavior. Their theory says that just as women consumers shop differently than men, businesswomen shop for professional services differently than businessmen.
TrendSight Group (an Illinois consulting firm) interviewed senior women execs and employees, finding the same discovery process women use when doing personal shopping also applies to purchasing business services. For instance, a woman might go to a store to buy a black pair of pants but then buy something else or change her mind. By contrast, men just focus on the black pants.
Other suggestions from the study:
The WSJ also points out that the method could easily backfire. Some women may welcome the greater sensitivity behind the approach, but others may find it patronizing.
Meryle Mahrer Kaplan, a vice president at Catalyst (a research and advisory group on women in business,) said "It's a great idea to pay attention to women as a people of influence, but if stereotypes seep in there, that's not helpful."
TrendSight Group (an Illinois consulting firm) interviewed senior women execs and employees, finding the same discovery process women use when doing personal shopping also applies to purchasing business services. For instance, a woman might go to a store to buy a black pair of pants but then buy something else or change her mind. By contrast, men just focus on the black pants.
Other suggestions from the study:
- Don't get frustrated if spaces change
Female clients may reevaluate or modify their initial requests because women discover as they shop. On the up-side -- women may be more likely to buy additional services and features they discover - Share some personal details to build trust
Women clients want to know and trust their consultants personally as well as professionally - Business Lunches vs. Dinners
Women often prefer business lunches to dinners because they tend to have more responsibilities at home. They'll be more receptive to evening events if given time to make arrangements - Nodding doesn't equal understanding
In terms of body language, men tend to stare as they listen and nod to signify they understand. Women may nod when they don't yet understand, simply to encourage the speaker to continue talking - Face to face
While consultants often purposely sit beside a male client as their "right hand man," women are more comfortable seated face to face
The WSJ also points out that the method could easily backfire. Some women may welcome the greater sensitivity behind the approach, but others may find it patronizing.
Meryle Mahrer Kaplan, a vice president at Catalyst (a research and advisory group on women in business,) said "It's a great idea to pay attention to women as a people of influence, but if stereotypes seep in there, that's not helpful."
Monday, October 01, 2007
Blogs Become Key Marketing Tool for Legal Eagles
This is excerpted from a recent story in the Philadelphia Business Journal:
Blogs as marketing tools are being taken seriously by the legal, medical, banking, real estate, and other old-school professional categories. Podcasting is coming up fast as a new area of new media they can exploit.
Need a VBR for approaching this category?
You could start by citing the article above. Why not offer the opportunity to become the official source of legal advice on the radio station websites? Of medical knowledge? Financial advice? If they have an existing blog/podcast, we can repurpose the feed on a landing page within our own website. If they do not, we can assist them in producing the content.
While they may state they already have their own blog, nothing matches the power of the Radio as a way of telling the public about its availability, nor the built-in audience our websites can contribute in growing their audience. It's worked for Ask The Beauty Doctor and for Your Micro Minute. There are currently podcast pitches in the field for a "Green" report and a Money Minute.
Who will be next?
Lawyers are becoming quick learners in the blogosphere
Saul Ewing partner Robert Louis didn't know what a blog was three months ago. Now it is a key marketing tool for the 60-year-old trusts and estates lawyer.
"I talked to some of the younger people here and after they explained to me what a blog is, it struck me as a good way to get small bits of information to people without burdening them with a five-page memo," Louis said.
So in July, Louis started "Personal Wealth Law News," one of three blogs -- short for weblogs -- that can be accessed through the Saul Ewing Web site, and joined a rapidly growing number of lawyers using the blogosphere for marketing purposes.
Louis' blog updates readers on the latest trends in personal wealth law. A recent entry asks whether the estate of Leona Helmsley, the billionaire hotel owner who died last month, would have to pay federal estate tax for a $12 million trust to take care of her beloved dog (while her four grandchildren were guaranteed nothing). Louis offered a 150-word item asking whether the taxes would be paid from the residue of the Helmsley estate.
Blogs as marketing tools are being taken seriously by the legal, medical, banking, real estate, and other old-school professional categories. Podcasting is coming up fast as a new area of new media they can exploit.
Need a VBR for approaching this category?
You could start by citing the article above. Why not offer the opportunity to become the official source of legal advice on the radio station websites? Of medical knowledge? Financial advice? If they have an existing blog/podcast, we can repurpose the feed on a landing page within our own website. If they do not, we can assist them in producing the content.
While they may state they already have their own blog, nothing matches the power of the Radio as a way of telling the public about its availability, nor the built-in audience our websites can contribute in growing their audience. It's worked for Ask The Beauty Doctor and for Your Micro Minute. There are currently podcast pitches in the field for a "Green" report and a Money Minute.
Who will be next?
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