It's the drum I've been beating all year, and now there's research to prove it. One of my business contacts has in her email, "Cutting advertising to save money is like stopping a clock to save time." It just doesn't work.
In a recession there is less business being done, but it is still being done in all industries. It is more important than ever to attract new customers and retain your current customers and clients. When times are tough, you must show strength, and the only way to do that is to remain present in the public eye. Radio advertising is an omnipresent media; in fact, it may be the only one. It is in homes, vehicles, offices, and, when commercials are done right, in your clients' consciousness. Check out this May 25, 2009 article from Marketing Charts:
"Survey Indicates that Reducing Advertising in a Recession is a Mistake"
More than 48 percent of U.S. adults believe that a lack of advertising by a retail store, bank or auto dealership during a recession indicates that the business is likely struggling, according to a study from Ad-ology Research.At the same time, a large majority of consumers think businesses that continue to advertise are competitive and/or committed to doing business.
The research study, "Advertising's Impact in a Soft Economy," which was undertaken to determine whether stopping advertising during the recession could harm a business, takes an in-depth look at specific consumer perceptions regarding firms that continue to advertise in the current economy, as well as those that do not.
Not advertising can harm brandAdvertising appears to play a key role in consumers' view of how a business is doing, the study found. By not advertising, businesses may be sending a warning signal to current and potential customers, Ad-ology said.
For example, when consumers no longer see/hear advertising from an auto dealership during a down economy, 50 percent say they view the dealership as "struggling." In addition, 19 percent feel these dealers are "less willing to deal," and only 7 percent believe they "must be doing well."
On the other hand, when a dealership advertises during tough times, 34 percent believe the dealership to be committed to doing business.
Consumer perception is similar for stores and banks. When advertising ceases among the following businesses, consumers:
* View their bank as struggling (48 percent)
* Believe their bank may not be in business much longer (12 percent)
* View their favorite store as struggling (56 percent)
* Believe their favorite store may not be in business much longer (15 percent)
However, when the following businesses continue to advertise frequently, consumers:
* Believe their bank is committed to doing business (43 percent)
* View their bank as being competitive (30 percent)
* Believe their favorite store is committed to doing business (47 percent)
* View their favorite store as being competitive (30 percent)
"It is critical to advertise in the current economic climate, to maintain long-term positive consumer perception of your brand," said C. Lee Smith, president and CEO of Ad-ology Research. "Advertising not only assures consumers of a business' reliability in a soft economy, but it can influence where and what they buy, especially when the ads address concerns about value."
Thursday, May 28, 2009
Friday, May 15, 2009
Small Businesses Turning to the Web
In coversation, and through my own observations, I'm finding that many small business owners inWilmington, NC are turning to the web for much of their marketing and advertising. I can certainly understand that. Even I have started to increase my web presence, and have started taking advantage of some of the free offerings available for marketing myself as a radio advertising and marketing consultant. There are many advantages to marketing and advertising on the web, the first being its cost effectiveness.
But now my problem is getting noticed. How will nayone find this blog, or my LinkedIn profile, or my Naymz profile. There is a lot of leg work involved in advertising these pages if I want them to be effective. And for now, much of it has been direct email marketing to various contacts I have in Wilmington, NC. Unfortunately, I am not permitted by my own company to use the one tool that is most beneficial in driving traffic to a website. Radio advertising!
The Radio Advertising Bureau has compiled information on how using radio advertising to drive website traffic can be effective. The following comes from their report:
Perception: Radio is reducing clutter at a time when the Internet is becoming more cluttered. Draw attention to the advertising message by supporting Internet with Radio.
Trusted: From the beginning, consumers have expressed caution in using and believing the Internet. Radio is consumers' local, trusted source for information. Add credibility to your advertising campaign with Radio.
Efficient: Cost-Per-Thousand impressions is still a bargain on Radio.
Easy to Use: Radio is fast and simple. Turn on the receiver and begin enjoying a favorite station immediately. The Internet's complex, confusing, and often slow processes turn the user’s experience into a negative one. Reach consumers within a positive environment.
Marketing Partners: Radio and the Internet make perfect marketing partners. Radio has proven its ability to drive consumers to advertised Web sites, and many Radio stations have their own Web sites offering advertisers unique multi-media marketing opportunities.
Target Specific Customers: With Radio, you can target specific customers by demographic group, lifestyle trends, and specific product affinity. And since the average Radio listener spends almost three hours each weekday and five hours per weekend with their favorite stations, it’s easy to generate enough message frequency to get them to check out your online advertisement. As Radio draws consumers to your online message, it can encourage them to print special coupons directly off the Web and redeem them at your place of business. (Radio Marketing Guide & Fact Book, 2007 edition)(Radio Marketing Guide & Fact Book 2007, )
As you can see, Internet traffic and radio advertising make incredibly powerful marketing partners. And with the introduction of internet radio and streaming plans in Wilmington, NC, you can reach your clients at the closest point of purchase possible by advertising on the station of your choice. If your website is e-commerce ready, you can run a radio commercial that promotes the website and gives a consumer a reason to visit it; since they are already listening online, your website is only a click away. Clients who have already seen success with this are local businesses who have printable coupons that customers download from their website, and can then redeem in the store. If you are looking for a way to increase awareness for your website, traditional radio advertising, and internet radio advertising are powerful tools. For businesses who have farther reaching customer bases, it is worth noting that we have had comments on several of the stations from listeners in other states who have fallen in love with the programming, including Ohio, New Jersey, West Virginia, and South Carolina.
Below is an April article from eMarketer about the increase of web marketing among medium to small businesses, as well as a link for a series of webinars on the subject:
Small Businesses Seek Solutions Online
Small businesses face stiff challenges in 2009.
According to a poll of US marketers by Bredin Business Information, the primary challenges in marketing to small businesses are funding new projects, growing the business with limited resources and increasing awareness.
In addition, marketers say the outlook for small-business marketing has changed in 2009. They are increasing their online activities, becoming more focused and conducting segmentation research to better target their customers.
It is no surprise that the local online marketing space is where many small and medium-sized businesses (SMBs) are moving their efforts -- and their dollars.Borrell Associates estimated SMBs spent $7.4 billion on local online marketing in 2008.
That figure accounted for 11 percent of all SMB marketing spending, and more than one-half of total US local digital spending, including Website development.
(Source: eMarketer, 04/13/09)
Note: Borrell Associates will be conducting a series of four webinars with more on this and other research and recommendations starting Thursday, May 19th. Register now by clicking here, or call 800-232-3131.
But now my problem is getting noticed. How will nayone find this blog, or my LinkedIn profile, or my Naymz profile. There is a lot of leg work involved in advertising these pages if I want them to be effective. And for now, much of it has been direct email marketing to various contacts I have in Wilmington, NC. Unfortunately, I am not permitted by my own company to use the one tool that is most beneficial in driving traffic to a website. Radio advertising!
The Radio Advertising Bureau has compiled information on how using radio advertising to drive website traffic can be effective. The following comes from their report:
Perception: Radio is reducing clutter at a time when the Internet is becoming more cluttered. Draw attention to the advertising message by supporting Internet with Radio.
Trusted: From the beginning, consumers have expressed caution in using and believing the Internet. Radio is consumers' local, trusted source for information. Add credibility to your advertising campaign with Radio.
Efficient: Cost-Per-Thousand impressions is still a bargain on Radio.
Easy to Use: Radio is fast and simple. Turn on the receiver and begin enjoying a favorite station immediately. The Internet's complex, confusing, and often slow processes turn the user’s experience into a negative one. Reach consumers within a positive environment.
Marketing Partners: Radio and the Internet make perfect marketing partners. Radio has proven its ability to drive consumers to advertised Web sites, and many Radio stations have their own Web sites offering advertisers unique multi-media marketing opportunities.
Target Specific Customers: With Radio, you can target specific customers by demographic group, lifestyle trends, and specific product affinity. And since the average Radio listener spends almost three hours each weekday and five hours per weekend with their favorite stations, it’s easy to generate enough message frequency to get them to check out your online advertisement. As Radio draws consumers to your online message, it can encourage them to print special coupons directly off the Web and redeem them at your place of business. (Radio Marketing Guide & Fact Book, 2007 edition)(Radio Marketing Guide & Fact Book 2007, )
As you can see, Internet traffic and radio advertising make incredibly powerful marketing partners. And with the introduction of internet radio and streaming plans in Wilmington, NC, you can reach your clients at the closest point of purchase possible by advertising on the station of your choice. If your website is e-commerce ready, you can run a radio commercial that promotes the website and gives a consumer a reason to visit it; since they are already listening online, your website is only a click away. Clients who have already seen success with this are local businesses who have printable coupons that customers download from their website, and can then redeem in the store. If you are looking for a way to increase awareness for your website, traditional radio advertising, and internet radio advertising are powerful tools. For businesses who have farther reaching customer bases, it is worth noting that we have had comments on several of the stations from listeners in other states who have fallen in love with the programming, including Ohio, New Jersey, West Virginia, and South Carolina.
Below is an April article from eMarketer about the increase of web marketing among medium to small businesses, as well as a link for a series of webinars on the subject:
Small Businesses Seek Solutions Online
Small businesses face stiff challenges in 2009.
According to a poll of US marketers by Bredin Business Information, the primary challenges in marketing to small businesses are funding new projects, growing the business with limited resources and increasing awareness.
In addition, marketers say the outlook for small-business marketing has changed in 2009. They are increasing their online activities, becoming more focused and conducting segmentation research to better target their customers.
It is no surprise that the local online marketing space is where many small and medium-sized businesses (SMBs) are moving their efforts -- and their dollars.Borrell Associates estimated SMBs spent $7.4 billion on local online marketing in 2008.
That figure accounted for 11 percent of all SMB marketing spending, and more than one-half of total US local digital spending, including Website development.
(Source: eMarketer, 04/13/09)
Note: Borrell Associates will be conducting a series of four webinars with more on this and other research and recommendations starting Thursday, May 19th. Register now by clicking here, or call 800-232-3131.
Wednesday, May 6, 2009
What's in it for your customer?
Time and time again, I work with people who want customers in their store, but have no idea how to get them there. One thing you have to ask yourself is, "If I were spending my money, what would make me get up and go?"
Its not enough to have the best service, the best product or service, be locally owned and operated, or even being the only one who does what you do. What are you willing to sacrifice in order to get customers motivated? Not only do you have to make an offer, you have to make it undeniable. It has to be something that the customer finds real value in, and they know that they are getting one heck of a deal. And it must have a deadline. You must leave only a reasonable amount of time for the offer to be redeemed; that creates the sense of urgency necessary to prompt more immediate action.
Here's a great article that gets into ideas for attracting more customers through the "dangling carrot."
Offer Multiple Prizes Instead of Just One
Beat the Recession Without Breaking the Bank
It's the dangling carrot -- the incentive that motivates a consumer to take an action. But how do marketers determine what that carrot looks like? Will consumers be receptive to it? Is it what they want? Is it what they need? And, most important, can I afford to dangle it?
With marketing budgets becoming tighter and tighter, one good strategy is to offer a handful of "baby carrots" rather than one large carrot. For example, instead of investing in one grand prize for one winner for a new promotion -- like $1 million or a new car -- offer a handful of smaller giveaways to a greater number of winners. This approach is successful for a number of reasons:
1. Consumers are more likely to sign up for a sweepstakes or contest if they feel their chances of winning are enhanced. That sense of attainability, the "Wow! I could really win this" factor, is truly a powerful motivator.
2. It's beneficial to create a positive brand experience with more than one winner. By selecting 50 people to win $1,000 versus one person to win $50,000, marketers are able to build an army of loyal brand ambassadors who will continue to promote the brand.
3. People love winning free stuff -- period! -- and that's true in any economic climate. But given the state of the current economy, consumers are more actively looking for promotions offering a chance at winning a freebie. They are paying more attention, and even the smaller prizes are generating a great deal of interest.
4. Capitalizing on smaller, lower-value items allows marketers to imprint their logo or message, which permanently reinforces consumer loyalty and provides a little more "bang for your buck."
Additionally, the more a giveaway item aligns with the target audience's interests and the more directly it ties to the consumption of the brand, the greater the participation. Developing a prize that is both relevant and interesting to the audience is critical in generating maximum participation.
For example, we recently developed a promotion for a healthy frozen snack product. The marketing was geared toward "soccer moms," and the product required toasting. Therefore, we offered consumers the chance to win dozens of free toaster ovens and gift cards to a popular sporting goods retailer (for their kids). While the prize was more practical and may not have been as sexy as some other giveaway options, we received hundreds of thousands of site visits and entries in a little over a month. This led to a double-digit sales increase and secured the product as the fastest growing brand in the frozen snack category.
When there isn't a flashy prize on the line that people will talk about, marketers need to step up their promotional game. Where can I best reach my audience? Who's going to want or care about this prize?
Yes, the toaster oven and gift card incentive played a major role in the overwhelming response. But because the prize was so targeted to a specific audience, it was just as important to target our publicity efforts. Using a focused online banner campaign and e-mail blasts, and partnering with a cost-effective national youth sports network, allowed us to pinpoint our soccer-mom target. Additionally, at the hub of this campaign was a feature-rich sweepstakes entry microsite that enabled the brand to engage consumers, reinforce key product attributes, offer coupons and solicit consumer feedback by using interactive games and entertaining content.
Last, the hundreds of thousands of contacts we garnered can now be used for future, cost-effective, one-to-one, brand-to-consumer dialogue -- which is typically the end-goal of any sweepstakes.
So, sometimes thinking smaller can be better. The results of the frozen snack campaign were attained at a fraction of the cost and time it would have taken to generate the quantity and quality of consumer brand interaction had we used traditional media and methods. Instead, we developed a simple promotion that really resonated with our target.
Marketers are continually faced with the growing challenge of shrinking budgets. Yet, thinking strategically about the target audience and their lifestyles, and giving that audience more opportunity to win, will result in successful, cost-effective incentive campaigns. Think small and win big.
(Source: Miles Smith, Promomagazine.com, 03/01/09)
Its not enough to have the best service, the best product or service, be locally owned and operated, or even being the only one who does what you do. What are you willing to sacrifice in order to get customers motivated? Not only do you have to make an offer, you have to make it undeniable. It has to be something that the customer finds real value in, and they know that they are getting one heck of a deal. And it must have a deadline. You must leave only a reasonable amount of time for the offer to be redeemed; that creates the sense of urgency necessary to prompt more immediate action.
Here's a great article that gets into ideas for attracting more customers through the "dangling carrot."
Offer Multiple Prizes Instead of Just One
Beat the Recession Without Breaking the Bank
It's the dangling carrot -- the incentive that motivates a consumer to take an action. But how do marketers determine what that carrot looks like? Will consumers be receptive to it? Is it what they want? Is it what they need? And, most important, can I afford to dangle it?
With marketing budgets becoming tighter and tighter, one good strategy is to offer a handful of "baby carrots" rather than one large carrot. For example, instead of investing in one grand prize for one winner for a new promotion -- like $1 million or a new car -- offer a handful of smaller giveaways to a greater number of winners. This approach is successful for a number of reasons:
1. Consumers are more likely to sign up for a sweepstakes or contest if they feel their chances of winning are enhanced. That sense of attainability, the "Wow! I could really win this" factor, is truly a powerful motivator.
2. It's beneficial to create a positive brand experience with more than one winner. By selecting 50 people to win $1,000 versus one person to win $50,000, marketers are able to build an army of loyal brand ambassadors who will continue to promote the brand.
3. People love winning free stuff -- period! -- and that's true in any economic climate. But given the state of the current economy, consumers are more actively looking for promotions offering a chance at winning a freebie. They are paying more attention, and even the smaller prizes are generating a great deal of interest.
4. Capitalizing on smaller, lower-value items allows marketers to imprint their logo or message, which permanently reinforces consumer loyalty and provides a little more "bang for your buck."
Additionally, the more a giveaway item aligns with the target audience's interests and the more directly it ties to the consumption of the brand, the greater the participation. Developing a prize that is both relevant and interesting to the audience is critical in generating maximum participation.
For example, we recently developed a promotion for a healthy frozen snack product. The marketing was geared toward "soccer moms," and the product required toasting. Therefore, we offered consumers the chance to win dozens of free toaster ovens and gift cards to a popular sporting goods retailer (for their kids). While the prize was more practical and may not have been as sexy as some other giveaway options, we received hundreds of thousands of site visits and entries in a little over a month. This led to a double-digit sales increase and secured the product as the fastest growing brand in the frozen snack category.
When there isn't a flashy prize on the line that people will talk about, marketers need to step up their promotional game. Where can I best reach my audience? Who's going to want or care about this prize?
Yes, the toaster oven and gift card incentive played a major role in the overwhelming response. But because the prize was so targeted to a specific audience, it was just as important to target our publicity efforts. Using a focused online banner campaign and e-mail blasts, and partnering with a cost-effective national youth sports network, allowed us to pinpoint our soccer-mom target. Additionally, at the hub of this campaign was a feature-rich sweepstakes entry microsite that enabled the brand to engage consumers, reinforce key product attributes, offer coupons and solicit consumer feedback by using interactive games and entertaining content.
Last, the hundreds of thousands of contacts we garnered can now be used for future, cost-effective, one-to-one, brand-to-consumer dialogue -- which is typically the end-goal of any sweepstakes.
So, sometimes thinking smaller can be better. The results of the frozen snack campaign were attained at a fraction of the cost and time it would have taken to generate the quantity and quality of consumer brand interaction had we used traditional media and methods. Instead, we developed a simple promotion that really resonated with our target.
Marketers are continually faced with the growing challenge of shrinking budgets. Yet, thinking strategically about the target audience and their lifestyles, and giving that audience more opportunity to win, will result in successful, cost-effective incentive campaigns. Think small and win big.
(Source: Miles Smith, Promomagazine.com, 03/01/09)
Monday, May 4, 2009
The Last Captive Audience
I'm starting this blog as a service to my clients. From time to time I have experiences in the local marketing and business arena that I feel are beneficial. At other times, there are articles that I receive about marketing and advertising that I feel are interesting and worthy of your read. As you may know, my ultimate goal is for you to do more business, no matter how it comes through the door. Radio is my business, but successful business marketing is my goal. With that in mind, here is the first of many articles that I hope to pass your way. If you know of anyone else who may benefit from insider tid bits from time to time, feel free to pass it on to them, or have them sign up for my blog, too. Enjoy it, have a great day, and God bless!
Radio Offers Advertisers the Last Captive Audience
Earlier this week, National Public Radio conducted an interesting interview with author Warren Berger, who offered his observations on the value of Radio advertising. Mr. Berger, who has been writing about the advertising industry for more than 20 years, emphasized the affordability of Radio, and noted its particular effectiveness in local markets. He also cited Radio's ability to blanket the airwaves with a slogan or jingle in a way that TV can't match. Click here to listen to this short clip of Mr. Berger's interview, and think about sending a copy of it to your advertisers to reinforce the benefits of Radio advertising.
(Source: National Public Radio (All Things Considered), 04/28/09)
Radio Offers Advertisers the Last Captive Audience
Earlier this week, National Public Radio conducted an interesting interview with author Warren Berger, who offered his observations on the value of Radio advertising. Mr. Berger, who has been writing about the advertising industry for more than 20 years, emphasized the affordability of Radio, and noted its particular effectiveness in local markets. He also cited Radio's ability to blanket the airwaves with a slogan or jingle in a way that TV can't match. Click here to listen to this short clip of Mr. Berger's interview, and think about sending a copy of it to your advertisers to reinforce the benefits of Radio advertising.
(Source: National Public Radio (All Things Considered), 04/28/09)
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