In an economic time, when it is now more crucial than ever to set yourself apart from the competition, businesses often look at many different ways to get noticed. Often, leaders forget that one of the simplest ways to stand out is to have exemplary customer service. Great customer service is remembered for a long time and the story is told to many people over and over again. It may cost you a couple of dollars at the moment, but this small investment will more than pay for itself.
I remember many years ago my wife and I took my eldest son on his first trip to Disneyland. We lived in Northern California at the time, so it was just a short drive down to Anaheim. We decided to splurge and stay at the Disneyland Hotel.
In the middle of the night, on the second night of our stay, my son got sick and began running a very dangerously high temperature. We called the front desk to ask if they had a physician or nurse on staff to find out what our local options were to get him checked out. They did have someone on staff and as soon as they found out what the temperature was they went into action.
What happened next is a lesson for everyone in customer service. The nurse told us that within 15 minutes an EMT would knock on our door to take us to Anaheim Children's Hospital....that knock came in 5 minutes. The EMT took us to an express elevator where they had an ambulance waiting with a very Disney interior decor to help soothe any child. They then called ahead to the hospital to have a doctor waiting for us.
When we arrived at the emergency room, we went past the waiting area and proceeded directly to a room. When the doctor walked in we were greeted by name and then got down to business. We figured out what was going on and then we went to leave the hospital to grab a taxi back to the hotel. However, the EMT was there to greet us and drive us to an all night pharmacy and then back to the Disney properties. From the time we left our hotel room to our return was only 3 hours. The entire cost for everything...nothing. Disney considered it simple function of taking care of their guests.
When I went back to Disneyland for future visits, do you think I ever stayed at any of the cheaper properties next door? Disneyland's actions made me a guest for life...and trust me we went back many times. It has been years since this event happened, but I can tell you I have repeated this story many, many times a year to people. Whenever I was asked for a recommendation of where to stay when going to Disneyland, I only gave one answer...the Disneyland Resort Properties. Disney has probably made 100 times the amount they spent to take care of me just on my recommendations and retelling of this story.
In effect, I have become a living commercial for Disneyland Resort Properties. Now, most businesses don't have the financial resources to go to the extent that I experienced. However, you can set up your culture and train your staff to be empowered to go above and beyond to take care of a customer and create memorable moment.
When you create a memorable moment for a customer, you have not only created a customer for life, but this person will become your personal billboard. Plus, there is no better way to say Thank You to a customer than giving them great service every day and with every experience they have with you.
Have a great Thanksgiving weekend!
Wednesday, November 26, 2008
Friday, November 21, 2008
Translating the Language of Search
Ever wonder what all those online search marketing terms mean? Here's a quick lesson.
Have a great weekend!
Jeff
Those of us who have been in this industry for a while are accustomed to throwing around industry-specific abbreviations and jargon. When I talk about search, I use industry terminology without even thinking about it -- until recently when a client stopped me and said, "Whoa, back up. You lost me."
For example:
"The Google dance has struck again and the SE algorithm has changed, so we might want to evaluate our linking strategies.
"Translation: Google has once again changed how it ranks sites. This might have an impact on our current search engine positioning, so we might want to explore other ways to get other sites to link to ours.
"We will deliver an SEM/SEO report, focusing on your organic and sponsored rankings, CTRs, CPCs and conversions.
"Translation: We will prepare a report on our search engine marketing and search engine optimization activities, specifically looking at where your site ranks in both the paid and unpaid search engine results, the click-through rate on our listings, the average price we're paying for a click, and the number of people who completed our desired action when they came to the site.
If you knew right off the bat what those two sentences meant without the translation, you're welcome to sign off. You know your search definitions. But if you had to stop and think for a minute, thinking about the abbreviations, then this column may be for you.
Here I have compiled a list of some of the most frequently used search industry terminology, jargon, abbreviations, and so on and simplified definitions:
Conversion: When a user completes a predefined desired action on your Web site (e.g., purchasing a product, signing up for a newsletter, registering for more information, etc.).
CPC: Cost per click is defined as the price you pay when someone clicks on your sponsored listing/paid search ad.
CTR: Click-through rate is the number of clicks divided by the number of ad impressions/views. It's the rate at which people see your ad and actually click on it.
Inbound links: Also know as external links, which occurs when other sites link to your site. It's generally accepted that a big factor in search engine algorithms (see below) is the number and quality of inbound links pointing to your site.
Keyword: A word or phrase that is typed into a search engine. Site owners typically want their sites to be visible in the search engines for specific keywords that relate to their product or service.
Link building: Since inbound (external) links influence a site's organic rankings (see below), many site owners will undertake the process of link building. This can consist of explicitly asking other sites to link to them, or encouraging inbound links by creating valuable content or tools, posting product reviews or forum comments on other Web sites, or partnering with relevant sites.
Organic ranking: The position that your Web site appears in the unpaid ("editorial") listings of the search engine results, which typically take up the majority of the page.
PPC: Pay per click typically refers to paid search marketing, where you pay for your ad to appear in the sponsored listings of the search engine results.
Quality score: The rating assigned by Google and other engines to keywords within a paid search account. The QS is calculated by taking into account maximum bid and relevancy (how closely your ad is targeted to the query; whether your landing page contains relevant information to the query).
SE: Search engine.
Search engine algorithm: A complex formula that search engines use to compute how to rank site A over sites B to Z. Apparently they are made up of thousands of unique factors, but we will likely never truly know since SEs make a habit of not disclosing details.
Search engine submission: A sort of archaic practice of submitting your site to the search engines for indexing. It was thought that this could speed up the time of search engines initially indexing, then returning to, your site. The traditional means of doing this is no longer widely practiced, but programs like Google Webmaster Tools enable site owners to make their sites more visible to Google and keep the engine up to date when changes are made.
SEM: Search engine marketing. This is where it gets tricky: sometimes this term is used mean both paid and unpaid search marketing, but sometimes it's used to mean only the paid activities. Industry organization SEMPO, uses "SEM" as the umbrella term. I'll let you decide how to use it.
SEO: Search engine optimization involves undertaking activities to make your site rank higher in the search engine results. Often it involves attempting to intuit how search engines rank sites and applying industry best practices.
SERP: Search engine results page, which is the page that comes up after you perform a query in a search engine.
Sponsored listings/ads: The text ads that typically appear along the periphery of the SERP (see above), such as along the top and the right hand side. Advertisers determine which terms they want their ads to appear for and compete with other advertisers to achieve top positioning.
I could go on, but this should give you a quick overview of some commonly used vernacular. That said, there are a number of lists out that provide a comprehensive compendium of search marketing terms. Check out SEMPO's Search Engine Optimization & Marketing Glossary for a well-rounded glossary of terms used in both search and Internet marketing.
(source: The ClickZ Network, Julie Batten, November 10, 2008)
Have a great weekend!
Jeff
Those of us who have been in this industry for a while are accustomed to throwing around industry-specific abbreviations and jargon. When I talk about search, I use industry terminology without even thinking about it -- until recently when a client stopped me and said, "Whoa, back up. You lost me."
For example:
"The Google dance has struck again and the SE algorithm has changed, so we might want to evaluate our linking strategies.
"Translation: Google has once again changed how it ranks sites. This might have an impact on our current search engine positioning, so we might want to explore other ways to get other sites to link to ours.
"We will deliver an SEM/SEO report, focusing on your organic and sponsored rankings, CTRs, CPCs and conversions.
"Translation: We will prepare a report on our search engine marketing and search engine optimization activities, specifically looking at where your site ranks in both the paid and unpaid search engine results, the click-through rate on our listings, the average price we're paying for a click, and the number of people who completed our desired action when they came to the site.
If you knew right off the bat what those two sentences meant without the translation, you're welcome to sign off. You know your search definitions. But if you had to stop and think for a minute, thinking about the abbreviations, then this column may be for you.
Here I have compiled a list of some of the most frequently used search industry terminology, jargon, abbreviations, and so on and simplified definitions:
Conversion: When a user completes a predefined desired action on your Web site (e.g., purchasing a product, signing up for a newsletter, registering for more information, etc.).
CPC: Cost per click is defined as the price you pay when someone clicks on your sponsored listing/paid search ad.
CTR: Click-through rate is the number of clicks divided by the number of ad impressions/views. It's the rate at which people see your ad and actually click on it.
Inbound links: Also know as external links, which occurs when other sites link to your site. It's generally accepted that a big factor in search engine algorithms (see below) is the number and quality of inbound links pointing to your site.
Keyword: A word or phrase that is typed into a search engine. Site owners typically want their sites to be visible in the search engines for specific keywords that relate to their product or service.
Link building: Since inbound (external) links influence a site's organic rankings (see below), many site owners will undertake the process of link building. This can consist of explicitly asking other sites to link to them, or encouraging inbound links by creating valuable content or tools, posting product reviews or forum comments on other Web sites, or partnering with relevant sites.
Organic ranking: The position that your Web site appears in the unpaid ("editorial") listings of the search engine results, which typically take up the majority of the page.
PPC: Pay per click typically refers to paid search marketing, where you pay for your ad to appear in the sponsored listings of the search engine results.
Quality score: The rating assigned by Google and other engines to keywords within a paid search account. The QS is calculated by taking into account maximum bid and relevancy (how closely your ad is targeted to the query; whether your landing page contains relevant information to the query).
SE: Search engine.
Search engine algorithm: A complex formula that search engines use to compute how to rank site A over sites B to Z. Apparently they are made up of thousands of unique factors, but we will likely never truly know since SEs make a habit of not disclosing details.
Search engine submission: A sort of archaic practice of submitting your site to the search engines for indexing. It was thought that this could speed up the time of search engines initially indexing, then returning to, your site. The traditional means of doing this is no longer widely practiced, but programs like Google Webmaster Tools enable site owners to make their sites more visible to Google and keep the engine up to date when changes are made.
SEM: Search engine marketing. This is where it gets tricky: sometimes this term is used mean both paid and unpaid search marketing, but sometimes it's used to mean only the paid activities. Industry organization SEMPO, uses "SEM" as the umbrella term. I'll let you decide how to use it.
SEO: Search engine optimization involves undertaking activities to make your site rank higher in the search engine results. Often it involves attempting to intuit how search engines rank sites and applying industry best practices.
SERP: Search engine results page, which is the page that comes up after you perform a query in a search engine.
Sponsored listings/ads: The text ads that typically appear along the periphery of the SERP (see above), such as along the top and the right hand side. Advertisers determine which terms they want their ads to appear for and compete with other advertisers to achieve top positioning.
I could go on, but this should give you a quick overview of some commonly used vernacular. That said, there are a number of lists out that provide a comprehensive compendium of search marketing terms. Check out SEMPO's Search Engine Optimization & Marketing Glossary for a well-rounded glossary of terms used in both search and Internet marketing.
(source: The ClickZ Network, Julie Batten, November 10, 2008)
Thursday, November 20, 2008
Extinction Threatens Yellow-Pages Publishers
Out of all the marketing vehicles out there, the Yellow-Pages is the least effective way to build a brand or market your business - however does tend to be one of the most expensive. In today's technology savvy world, a forty pound book seems a bit archiac - and a poor use of our trees. Below is an interesting article that discusses the state of the business of phone books...something to take into consideration as you are reviewing your marketing budgets for 2009.
Jeff
The yellow-pages industry is running out of lifelines.
In recent years, as its customers migrated to the Web -- flocking to sites like Google -- the telephone-directory business followed, hoping the Internet would be its salvation. Bloomberg News/Landov Idearc publishes phone books for Verizon.
But that strategy hasn't panned out. Now, the economic downturn is sending the already ailing business into a tailspin.
The audience for online yellow pages remains relatively small, and traffic growth is slowing. So many directory services are vying for the ad dollars of local businesses that no single site has an authoritative roster.
Meanwhile, ad dollars are drying up as small businesses -- the industry's bread and butter -- find it harder to pay bills or have cut their spending sharply.
Print and online ad spending on yellow pages will plummet 6.3% next year, more than double the rate of decline expected for broadcast TV, according to forecasts by Wachovia analyst John Janedis. Within the next four years, ad spending will fall 39% in print directories alone -- the steepest projected decline across all local-media categories, according to media-research firm Borrell Associates.
"It's pretty darn hard out there for everybody, and those that have less staying power, it just looks like it's going to be a difficult environment to be able to hang on in the long term," said Dave Swanson, chief executive of R.H. Donnelley, a Cary, N.C., yellow-pages publisher, during a conference call on the company's third-quarter earnings.
Facing the real prospect of extinction, the publishers, many of which have considerable debt, have been slashing jobs, scrapping dividends and exiting unprofitable markets. Shares of two of the biggest publishers, R.H. Donnelley and Idearc, have plummeted 99% in the past year.
"The main pure-play companies do not have capital structures that would enable them to endure perpetual high-single-digit or double-digit declines in cash flow and remain viable entities or solvent entities over time," says Mike Simonton, an analyst with Fitch Ratings.
Yellow-pages publishers have spent the past several years attempting to reinvent themselves, launching a slew of digital offerings for advertisers, and retraining their sales forces to sell digital ads alongside print ads.
But Internet revenues remain anemic. At less than 10%, online-ad dollars make up only a modest portion of total revenues and aren't growing fast enough to offset steep declines on the print side, says Mr. Simonton.
Analysts say yellow-pages sales teams face an inherent conflict. While they are pressured to sell both print and online ads, Internet ads are often a third of the price of the print product. The top priority for the sales teams often is to sell the print book first, then sell the digital products.
Even if online revenues were growing at a faster clip, analysts are cautious about the prospects of online-only directories. Yellow-pages ads are the only form of advertising many small businesses buy, and the online ads are typically sold in conjunction with print listings, Mr. Simonton says. That means that if businesses aren't buying the print ad, then the online ad disappears too.
In a last-ditch attempt to succeed online, some publishers have struck ad-sale partnerships with Internet companies like Google. White Directory Publishers, which publishes directories in 90 small to medium-size markets, says it is often more effective for small businesses to have a presence on Google than on a directory Web site. But many small- to medium-size businesses don't have the expertise or time to create effective Web sites or buy and track search ads, so White Directory is offering to do it for them.
"They all believe they have the URL and the Web site that's going to win," Jeff Folckemer, chief operating officer and chief executive-designate of White Directory, part of Hearst Corp., says of the directory companies. "Our philosophy immediately was to go right to the big guys."
Mr. Simonton cautions, however, that even if publishers survive, any growth they achieved since the last downtown, in 2001, will be short-lived. "That extra growth coming from new businesses are the first to fold in a downturn. You basically give back in one downturn what took seven years to grow."
(source: Wall Street Journal Online, 11/17/08)
Jeff
The yellow-pages industry is running out of lifelines.
In recent years, as its customers migrated to the Web -- flocking to sites like Google -- the telephone-directory business followed, hoping the Internet would be its salvation. Bloomberg News/Landov Idearc publishes phone books for Verizon.
But that strategy hasn't panned out. Now, the economic downturn is sending the already ailing business into a tailspin.
The audience for online yellow pages remains relatively small, and traffic growth is slowing. So many directory services are vying for the ad dollars of local businesses that no single site has an authoritative roster.
Meanwhile, ad dollars are drying up as small businesses -- the industry's bread and butter -- find it harder to pay bills or have cut their spending sharply.
Print and online ad spending on yellow pages will plummet 6.3% next year, more than double the rate of decline expected for broadcast TV, according to forecasts by Wachovia analyst John Janedis. Within the next four years, ad spending will fall 39% in print directories alone -- the steepest projected decline across all local-media categories, according to media-research firm Borrell Associates.
"It's pretty darn hard out there for everybody, and those that have less staying power, it just looks like it's going to be a difficult environment to be able to hang on in the long term," said Dave Swanson, chief executive of R.H. Donnelley, a Cary, N.C., yellow-pages publisher, during a conference call on the company's third-quarter earnings.
Facing the real prospect of extinction, the publishers, many of which have considerable debt, have been slashing jobs, scrapping dividends and exiting unprofitable markets. Shares of two of the biggest publishers, R.H. Donnelley and Idearc, have plummeted 99% in the past year.
"The main pure-play companies do not have capital structures that would enable them to endure perpetual high-single-digit or double-digit declines in cash flow and remain viable entities or solvent entities over time," says Mike Simonton, an analyst with Fitch Ratings.
Yellow-pages publishers have spent the past several years attempting to reinvent themselves, launching a slew of digital offerings for advertisers, and retraining their sales forces to sell digital ads alongside print ads.
But Internet revenues remain anemic. At less than 10%, online-ad dollars make up only a modest portion of total revenues and aren't growing fast enough to offset steep declines on the print side, says Mr. Simonton.
Analysts say yellow-pages sales teams face an inherent conflict. While they are pressured to sell both print and online ads, Internet ads are often a third of the price of the print product. The top priority for the sales teams often is to sell the print book first, then sell the digital products.
Even if online revenues were growing at a faster clip, analysts are cautious about the prospects of online-only directories. Yellow-pages ads are the only form of advertising many small businesses buy, and the online ads are typically sold in conjunction with print listings, Mr. Simonton says. That means that if businesses aren't buying the print ad, then the online ad disappears too.
In a last-ditch attempt to succeed online, some publishers have struck ad-sale partnerships with Internet companies like Google. White Directory Publishers, which publishes directories in 90 small to medium-size markets, says it is often more effective for small businesses to have a presence on Google than on a directory Web site. But many small- to medium-size businesses don't have the expertise or time to create effective Web sites or buy and track search ads, so White Directory is offering to do it for them.
"They all believe they have the URL and the Web site that's going to win," Jeff Folckemer, chief operating officer and chief executive-designate of White Directory, part of Hearst Corp., says of the directory companies. "Our philosophy immediately was to go right to the big guys."
Mr. Simonton cautions, however, that even if publishers survive, any growth they achieved since the last downtown, in 2001, will be short-lived. "That extra growth coming from new businesses are the first to fold in a downturn. You basically give back in one downturn what took seven years to grow."
(source: Wall Street Journal Online, 11/17/08)
Wednesday, November 19, 2008
Banks Targeting Money-Conscious Consumers
SunTrust Banks Targets Money-Conscious Consumers
SunTrust Banks this weekend unveiled a new campaign with the tagline, "Live Solid. Bank Solid," which speaks to the state-of-mind of wary consumers affected by a slumping economy.
The effort, via lead agency Mullen, Winston-Salem, N.C., focuses on the idea that consumers are becoming smarter about their finances and looking for banks that offer "confidence, security and firm footing," per SunTrust.
TV spots broke during NBC's Sunday Night Football. Radio, print, and online ads also support. SunTrust, Atlanta, said it will continue advertising on prime time TV through 2009.
"We believe the new campaign will resonate with our clients and American consumers, especially in our current economic climate," said Rilla Delorier, SunTrust CMO. "The new SunTrust brand . . . provides the assurance that SunTrust is their financial partner as they build the foundation for their financial futures."
While timely given the recent meltdown on Wall Street, the bank claims its new campaign was underway months before and emerged following internal research that found the majority of consumers would rather spend "wisely" than spend "freely." The new tagline is meant to reflect those findings. SunTrust's old tagline was: "Seeing Beyond Money."
SunTrust spent $26 million on U.S. advertising last year (excluding online), per Nielsen Monitor-Plus, and $21 million through September of this year.
(Source: BrandWeek, 11/17/08)
SunTrust Banks this weekend unveiled a new campaign with the tagline, "Live Solid. Bank Solid," which speaks to the state-of-mind of wary consumers affected by a slumping economy.
The effort, via lead agency Mullen, Winston-Salem, N.C., focuses on the idea that consumers are becoming smarter about their finances and looking for banks that offer "confidence, security and firm footing," per SunTrust.
TV spots broke during NBC's Sunday Night Football. Radio, print, and online ads also support. SunTrust, Atlanta, said it will continue advertising on prime time TV through 2009.
"We believe the new campaign will resonate with our clients and American consumers, especially in our current economic climate," said Rilla Delorier, SunTrust CMO. "The new SunTrust brand . . . provides the assurance that SunTrust is their financial partner as they build the foundation for their financial futures."
While timely given the recent meltdown on Wall Street, the bank claims its new campaign was underway months before and emerged following internal research that found the majority of consumers would rather spend "wisely" than spend "freely." The new tagline is meant to reflect those findings. SunTrust's old tagline was: "Seeing Beyond Money."
SunTrust spent $26 million on U.S. advertising last year (excluding online), per Nielsen Monitor-Plus, and $21 million through September of this year.
(Source: BrandWeek, 11/17/08)
Tuesday, November 18, 2008
Chief Marketing Officers See Black Friday, Cyber Monday Falling Flat
Do you have a way to incorporate Gift Cards into your sales mix?
Jeff
by Karl Greenberg, Monday, Nov 17, 2008 4:16 PM ET
While Black Friday and Cyber Monday--which both occur post-Thanksgiving--have experienced year-over-year sales growth in the past, they will not be doing so this time around, according to chief marketing officers at retail companies. The marketers were surveyed as part of accounting and consulting firm BDO Seidman's "Retail Compass," which queries 100 CMOs in retail firms with at least $100 million in yearly revenue.
Last year, Black Friday saw 8.3% sales growth and Cyber Monday had 21%. This year, retail CMOs are predicting essentially flat sales for those days.
Not surprising is the surveyed CMOs' grim outlook for overall holiday sales, which they see dropping by an average of 2.7%.
What sales gains there may be will come from gift cards, the Web and consumer electronics. The marketing executives surveyed by BDO Seidman expect Internet sales and gift card sales to improve 8% and 5.1%, respectively.
Forty-four percent of surveyed marketers predicted that in-store purchases would drive gift card sales this season. Smaller percentages of marketers predicted that online purchases and third-party vendors (such as kiosks and grocery stores) will drive the most gift card sales.
Ted Vaughan, a partner in the Retail and Consumer Product Practice at BDO Seidman, says that while the year is dismal, "it is important to remember that there are some bright spots on the horizon. There is still enormous growth potential in Internet sales, which remains a fairly new phenomenon. Further, gift cards will be popular this year because they allow the end user to decide on the gift based on their personal needs."
Forty-nine percent of those surveyed said consumer electronics will perform the best versus home goods, toys, lifestyle goods such as books and sporting equipment, apparel and jewelry.
And half of retailers surveyed said they expect Internet sales to increase this holiday season, while 38% expect online sales to stay the same.
Vaughan says holiday sales can make up 35% to 40% of annual sales.
He also says the gift card and Internet increases are a bit misleading. "There was an uptick in gift card sales and Internet sales last year, so the increase this year is a continuation of that trend, but even that trend is slowing down compared to last year and the year before," he says.
"The plus is that if you sell gift cards, the general tendency for someone who redeems the cards is to buy more than the amount on the card."
For Internet sales, the positive for retailers is that when consumers come online looking for a particular product "the Internet makes it so easy to browse; they will be able to find other products they may not have had in mind."
Karl Greenberg can be reached at karl@mediapost.com
Jeff
by Karl Greenberg, Monday, Nov 17, 2008 4:16 PM ET
While Black Friday and Cyber Monday--which both occur post-Thanksgiving--have experienced year-over-year sales growth in the past, they will not be doing so this time around, according to chief marketing officers at retail companies. The marketers were surveyed as part of accounting and consulting firm BDO Seidman's "Retail Compass," which queries 100 CMOs in retail firms with at least $100 million in yearly revenue.
Last year, Black Friday saw 8.3% sales growth and Cyber Monday had 21%. This year, retail CMOs are predicting essentially flat sales for those days.
Not surprising is the surveyed CMOs' grim outlook for overall holiday sales, which they see dropping by an average of 2.7%.
What sales gains there may be will come from gift cards, the Web and consumer electronics. The marketing executives surveyed by BDO Seidman expect Internet sales and gift card sales to improve 8% and 5.1%, respectively.
Forty-four percent of surveyed marketers predicted that in-store purchases would drive gift card sales this season. Smaller percentages of marketers predicted that online purchases and third-party vendors (such as kiosks and grocery stores) will drive the most gift card sales.
Ted Vaughan, a partner in the Retail and Consumer Product Practice at BDO Seidman, says that while the year is dismal, "it is important to remember that there are some bright spots on the horizon. There is still enormous growth potential in Internet sales, which remains a fairly new phenomenon. Further, gift cards will be popular this year because they allow the end user to decide on the gift based on their personal needs."
Forty-nine percent of those surveyed said consumer electronics will perform the best versus home goods, toys, lifestyle goods such as books and sporting equipment, apparel and jewelry.
And half of retailers surveyed said they expect Internet sales to increase this holiday season, while 38% expect online sales to stay the same.
Vaughan says holiday sales can make up 35% to 40% of annual sales.
He also says the gift card and Internet increases are a bit misleading. "There was an uptick in gift card sales and Internet sales last year, so the increase this year is a continuation of that trend, but even that trend is slowing down compared to last year and the year before," he says.
"The plus is that if you sell gift cards, the general tendency for someone who redeems the cards is to buy more than the amount on the card."
For Internet sales, the positive for retailers is that when consumers come online looking for a particular product "the Internet makes it so easy to browse; they will be able to find other products they may not have had in mind."
Karl Greenberg can be reached at karl@mediapost.com
Friday, November 14, 2008
Ten Reasons To Keep Advertising in a Tough Economy
Ten great reasons to keep advertising in a tough economy!
Jeff
1. Dear Client: As your customers cut back on their advertising, your Advertising Voice is multiplied. When your clients do less, aggressive advertising works even better.
2. The closings of scores of national retailers makes it easier for a local retailer's voice to be heard. Here's a sample of national chains closing some of their stores: Zale's closing 105 stores, Sprint/Nextel-125, Disney-98, Gap-85, Linens-N-Things-120. There there are those who've shut down completely. Examples: CompUSA, Footlocker, KB Toys, Levitz, Hollywood Video, Pier 1, Wickes Furniture - all gone. Kaput.
3. Cutting Advertising is like amputating in order to get rid of an itch, or I'm going to quit selling because they'll probably say No anyhow. Successful companies consider their ad budget a fixed expense. When the number of incoming customers decreases - this isn't the right time to stop inviting them back.
4. Don't Cut Your Air Supply. Advertising helped get the business where it is - don't stop now. The reason you have customers is that someone heard your message. And you're going to abandon that?
5. When you stop advertising, your best customers become someone else's prospects. People go where they're invited. Your competitors are inviting your customers.
6. Your customers will have more confidence that you're THERE. We have confidence in the Post Office and the fire department. We perceive that they'll be there when we need them. Same with you. That's one of the reasons you have a steady return customers.
7. Consumers don't stop buying; they're just more choosey and looking for value. Good deals.
8. You know what consumers are looking for. Super-Sizing works now. Good Value works better than ever.
9. Add the new online tools we can offer, at a comparatively low cost, offer even more wallop for their dollar. Online products like Channels, coupons, streaming and texting are all NTR Heaven - that show accountable results and excellent ROI.
10. Think of what Advertising says to employees - Confidence. Ask for help from your employees to make the ad circle complete. Let them know about every offer. Let them HELP INVENT new offers. It's a time of opportunity.
(source: Jim Taszarek, Tazmedia.com)
Jeff
1. Dear Client: As your customers cut back on their advertising, your Advertising Voice is multiplied. When your clients do less, aggressive advertising works even better.
2. The closings of scores of national retailers makes it easier for a local retailer's voice to be heard. Here's a sample of national chains closing some of their stores: Zale's closing 105 stores, Sprint/Nextel-125, Disney-98, Gap-85, Linens-N-Things-120. There there are those who've shut down completely. Examples: CompUSA, Footlocker, KB Toys, Levitz, Hollywood Video, Pier 1, Wickes Furniture - all gone. Kaput.
3. Cutting Advertising is like amputating in order to get rid of an itch, or I'm going to quit selling because they'll probably say No anyhow. Successful companies consider their ad budget a fixed expense. When the number of incoming customers decreases - this isn't the right time to stop inviting them back.
4. Don't Cut Your Air Supply. Advertising helped get the business where it is - don't stop now. The reason you have customers is that someone heard your message. And you're going to abandon that?
5. When you stop advertising, your best customers become someone else's prospects. People go where they're invited. Your competitors are inviting your customers.
6. Your customers will have more confidence that you're THERE. We have confidence in the Post Office and the fire department. We perceive that they'll be there when we need them. Same with you. That's one of the reasons you have a steady return customers.
7. Consumers don't stop buying; they're just more choosey and looking for value. Good deals.
8. You know what consumers are looking for. Super-Sizing works now. Good Value works better than ever.
9. Add the new online tools we can offer, at a comparatively low cost, offer even more wallop for their dollar. Online products like Channels, coupons, streaming and texting are all NTR Heaven - that show accountable results and excellent ROI.
10. Think of what Advertising says to employees - Confidence. Ask for help from your employees to make the ad circle complete. Let them know about every offer. Let them HELP INVENT new offers. It's a time of opportunity.
(source: Jim Taszarek, Tazmedia.com)
Thursday, November 13, 2008
Moms Shape New Culture by Cutting Back
Reviewing your marketing plans for 2009? You better factor in how those plans appeal to moms!
Jeff
Moms Shape New Culture by Cutting Back
According to a recent report by the allen & gerritsen (a&g) audience intelligence department, 80% of online mothers in the US say most Americans have been encouraged to overextend themselves, while 58% think the average American is too greedy.
Because moms manage the household (which means their behaviors drastically impact sales) and they teach and enforce family values (which means they are as influential in shaping our culture as is the media), a&g surveyed moms to understand just how the economy is affecting their purchase behaviors and economic outlook. The study reveals that most moms believe that cultural trends that demonstrate a belief that Americans deserve to regularly indulge, contributed to the financial crisis we are in.
But, says the report, the pendulum has begun to swing the other way, with moms taking the lead. In this countercultural trend, moms see themselves as shunning greed and are putting family needs before their own.
Moms are looking for ways to rein in their household finances, with 65% of moms surveyed eliminating purchases that are not absolutely necessary, and 52% cutting back in general. 71% say they have made more sacrifices this year than last.
Household Finance Changes Moms Made in 2008
Change % of Respondents (multiple response OK)
New source of income 29%
Cut back spending 52%
Eliminated unnecessaries 65%
No changes 12%
Source: Allen & Gerritson, October 2008
Though 71% of moms report they have made more sacrifices this year than last, childcare and medical needs will not be compromised. More of these moms blame the government (not enough oversight or regulation) for the economic crisis than blame the banks (32% vs. 16%).
Parties That Moms Feel Responsible for Collapse of Financial Institutions
Responsible Party % of Respondents
Government 32%
Everyone 27%
Banks 16%
Individual borrowers 6%
Corporations 6%
Wall Street 3%
No one 3%
Investors 1%
All other 7%
Source: Allen & Gerritson, October 2008
In addition:
* 94% of moms say it is more important to seek regular medical care for their families than themselves.
* 62% of moms say they are less greedy than the American average.
* 51% of moms say don't see the economic situation improving within the next year.
Catherine Kolodij, VP, audience intelligence director at a&g, summarizes by saying "For the last few years, there have been a number of cultural trends that demonstrate the idea that Americans deserve to indulge, buying bigger homes and better cars and other luxuries. Most moms believe this culture contributed to the financial crisis we are in... "
Please visit allen & gerritsen here to obtain the complete PDF file, including charts.
(Source: Mediapost.com)
Jeff
Moms Shape New Culture by Cutting Back
According to a recent report by the allen & gerritsen (a&g) audience intelligence department, 80% of online mothers in the US say most Americans have been encouraged to overextend themselves, while 58% think the average American is too greedy.
Because moms manage the household (which means their behaviors drastically impact sales) and they teach and enforce family values (which means they are as influential in shaping our culture as is the media), a&g surveyed moms to understand just how the economy is affecting their purchase behaviors and economic outlook. The study reveals that most moms believe that cultural trends that demonstrate a belief that Americans deserve to regularly indulge, contributed to the financial crisis we are in.
But, says the report, the pendulum has begun to swing the other way, with moms taking the lead. In this countercultural trend, moms see themselves as shunning greed and are putting family needs before their own.
Moms are looking for ways to rein in their household finances, with 65% of moms surveyed eliminating purchases that are not absolutely necessary, and 52% cutting back in general. 71% say they have made more sacrifices this year than last.
Household Finance Changes Moms Made in 2008
Change % of Respondents (multiple response OK)
New source of income 29%
Cut back spending 52%
Eliminated unnecessaries 65%
No changes 12%
Source: Allen & Gerritson, October 2008
Though 71% of moms report they have made more sacrifices this year than last, childcare and medical needs will not be compromised. More of these moms blame the government (not enough oversight or regulation) for the economic crisis than blame the banks (32% vs. 16%).
Parties That Moms Feel Responsible for Collapse of Financial Institutions
Responsible Party % of Respondents
Government 32%
Everyone 27%
Banks 16%
Individual borrowers 6%
Corporations 6%
Wall Street 3%
No one 3%
Investors 1%
All other 7%
Source: Allen & Gerritson, October 2008
In addition:
* 94% of moms say it is more important to seek regular medical care for their families than themselves.
* 62% of moms say they are less greedy than the American average.
* 51% of moms say don't see the economic situation improving within the next year.
Catherine Kolodij, VP, audience intelligence director at a&g, summarizes by saying "For the last few years, there have been a number of cultural trends that demonstrate the idea that Americans deserve to indulge, buying bigger homes and better cars and other luxuries. Most moms believe this culture contributed to the financial crisis we are in... "
Please visit allen & gerritsen here to obtain the complete PDF file, including charts.
(Source: Mediapost.com)
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