Both salespeople and companies, whether they currently use social media or not, are struggling to figure out how to use it effectively. In fact, few -- even those with sophisticated marketing departments investing time and effort into the process -- have any real social media strategy.
Undoubtedly, this will be true for quite some time to come -- and, of course, that means there are and will be thousands out looking to take your money to help you learn the hows of making social media work.
The lesson here: Be extremely careful as there are many who know little more than how to construct a tweet who are anxious to take your money.
Source: Sales author/consultant Paul McCord
Wednesday, April 20, 2011
Daily Sales Tip: Buyer Beware
Tuesday, April 19, 2011
normally I don't give you two in a day but this was too good!
You open your mailbox and grab a handful of paper. How long does it take you to sort that mail? Do you open each envelope and consider its message, or do some of them get tossed into the trashcan unopened?
More than 71 billion dollars were spent on direct mail marketing last year according to the US Postal Service and each of these dollars was spent in the hope that:
1. your attention would be gained by the advertiser’s message and
2. you would spend time – at least a moment – considering it.
Less than one fourth the amount spent on direct mail – 17.3 billion dollars to be exact – was spent on radio advertising in 2010 according to the Radio Advertising Bureau and each of these dollars was spent in the hope that:
1. your attention would be gained by the advertiser’s message and
2. you would spend time – at least a moment – considering it.
More than 131 billion dollars was spent on television advertising in 2010 – not quite twice the amount spent on direct mail, but nearly 8 times as much as was spent on radio – and each of these dollars was spent in the hope that:
1. your attention would be gained by the advertiser’s message and
2. you would spend time – at least a moment – considering it.
Business owners are excited about Facebook and Twitter because these social media outlets offer them potential access to – wait for it – your time and attention.
Are you beginning to see a pattern here?
Time and attention are currency.
Shoppers today are confronted with an unprecedented number of possibilities. Welcome to the 21st century, where shoppers carry the world in their pockets, giving them instant access to everything they want to know. Now what were you saying?
A 1978 consumer behavior study by Yankelovich indicated the average American of that time was confronted by more than 2,000 selling messages per day. These “selling messages” included the signage in front of strip centers, posters in windows, point-of-purchase displays in convenience stores, product packaging on shelves, stickers on gas pumps and all the major media, of course. Yankelovich revisited that study in 2008: today’s shopper is confronted by more than 5,000 selling messages per day.
Shoppers don’t buy things until they know about them. And they have far too little time to consider all their options. This is why the value of time and attention has risen to unprecedented heights.
And it’s also why clarity is the new creativity.
If today’s advertisers want to ring the bell, win the prize and cash the check, they must:
1. Gain attention
2. Speak with impact and
3. Prove what they say
4. In the fewest possible words.
A few final thoughts:
1. Radio has weathered the techno-storm better than any other media.
2. Following a brief flirtation with the iPod, Americans returned en masse to broadcast radio for exposure to new music and breaking news.
3. You can close your eyes, but you cannot close your ears.
4. How many hours a week do you spend driving?
5. World-class radio ads are cheap to produce.
6. It costs big bucks to look good on TV.
7. A modest budget for a national advertiser to produce a 30-second TV ad is $350,000. Your TV ads, by comparison, will always look “homemade.”
8. But national advertisers have no advantage over local advertisers on radio.
9. Advertising agencies can’t pay the bills by producing radio ads. Their profitability – indeed their very existence – depends on their ability to steer advertisers into high production-cost ventures: television and direct mail.
10. The smart place for local advertising is usually on the radio.
More than 71 billion dollars were spent on direct mail marketing last year according to the US Postal Service and each of these dollars was spent in the hope that:
1. your attention would be gained by the advertiser’s message and
2. you would spend time – at least a moment – considering it.
Less than one fourth the amount spent on direct mail – 17.3 billion dollars to be exact – was spent on radio advertising in 2010 according to the Radio Advertising Bureau and each of these dollars was spent in the hope that:
1. your attention would be gained by the advertiser’s message and
2. you would spend time – at least a moment – considering it.
More than 131 billion dollars was spent on television advertising in 2010 – not quite twice the amount spent on direct mail, but nearly 8 times as much as was spent on radio – and each of these dollars was spent in the hope that:
1. your attention would be gained by the advertiser’s message and
2. you would spend time – at least a moment – considering it.
Business owners are excited about Facebook and Twitter because these social media outlets offer them potential access to – wait for it – your time and attention.
Are you beginning to see a pattern here?
Time and attention are currency.
Shoppers today are confronted with an unprecedented number of possibilities. Welcome to the 21st century, where shoppers carry the world in their pockets, giving them instant access to everything they want to know. Now what were you saying?
A 1978 consumer behavior study by Yankelovich indicated the average American of that time was confronted by more than 2,000 selling messages per day. These “selling messages” included the signage in front of strip centers, posters in windows, point-of-purchase displays in convenience stores, product packaging on shelves, stickers on gas pumps and all the major media, of course. Yankelovich revisited that study in 2008: today’s shopper is confronted by more than 5,000 selling messages per day.
Shoppers don’t buy things until they know about them. And they have far too little time to consider all their options. This is why the value of time and attention has risen to unprecedented heights.
And it’s also why clarity is the new creativity.
If today’s advertisers want to ring the bell, win the prize and cash the check, they must:
1. Gain attention
2. Speak with impact and
3. Prove what they say
4. In the fewest possible words.
A few final thoughts:
1. Radio has weathered the techno-storm better than any other media.
2. Following a brief flirtation with the iPod, Americans returned en masse to broadcast radio for exposure to new music and breaking news.
3. You can close your eyes, but you cannot close your ears.
4. How many hours a week do you spend driving?
5. World-class radio ads are cheap to produce.
6. It costs big bucks to look good on TV.
7. A modest budget for a national advertiser to produce a 30-second TV ad is $350,000. Your TV ads, by comparison, will always look “homemade.”
8. But national advertisers have no advantage over local advertisers on radio.
9. Advertising agencies can’t pay the bills by producing radio ads. Their profitability – indeed their very existence – depends on their ability to steer advertisers into high production-cost ventures: television and direct mail.
10. The smart place for local advertising is usually on the radio.
Streaming Ads Increase Ad Recall and Ad Response
KCBQ & KPRZ streams LIVE 24/7!!
When used together with broadcast radio, streaming audio can improve the response rate and recall of advertising. That’s one of the key findings behind TargetSpot’s outstanding Ad Impact Study released last week at the National Association of Broadcasters conference. TargetSpot sells targeted streaming audio ads.
Their study claims that when an advertiser used broadcast radio and internet radio together, the campaign achieved a 3.5x higher ad response than broadcast alone.
(click for a larger image)
The ad recall of broadcast radio was most impacted by internet radio in the insurance, retail stores, financial services, telecommunications, and travel categories.
(click for a larger image)
The study reports that most (96%) listeners access internet radio on a desktop/laptop computer. Approximately half (45%) listen on a mobile/smartphone and 15% listen on tablet devices. Tablet listeners are the heaviest users of streaming media; 25% of those who listen on a tablet device tune in 4+ hours daily.
This is an important signal to broadcasters. A simple path to “heavy users” of audio would appear to be mobile and tablet compatible apps and streams.
Broadcasters that are providing integrated campaigns with streaming audio and broadcast spots should also be encouraged by this study. Streaming audio spots increased ad responses for broadcast campaigns and online ads alike.
(click for a larger image)
Four out of ten listeners to internet radio advertising have responded to an ad.
• 17% visited the company website
• 15% searched online for product information
• 13% clicked on an ad
• 10% became a fan / clicked “like” on a social network
• 10% became a fan / clicked “like” on a social network
• 7% sent e-mail or text to the company
• 5% called the company
The most likely action for a listener to take after hearing an internet radio ad is to visit the client’s website.
Internet-radio listeners are also influential, with over half saying that they tell friends, family, or co-workers about new products or services they like.
(click for a larger image)
This study sheds light on internet radio’s growth and viability as an ad delivery venue. I believe the most important takeaway from this study is that streaming delivers engaged heavy users. As much as this study points to the validity of internet-radio for advertising, it makes a case to broadcasters for continued strategic investment into mobile and tablet apps as well as multiple streaming options for desktop computers.
Wednesday, April 13, 2011
Adding internet radio to an over-the-air campaign more than triples ad response
Don't miss the boat!!
A new study provides ammo for sellers pitching internet radio to media buyers. Adding internet radio to a broadcast campaign elicits an ad response that’s 3.5 times greater than the response produced by a broadcast campaign on its own. That’s one of the top line findings from a second, separate TargetSpot-commissioned online study of ad effectiveness among 2,127 U.S. broadband households conducted by Parks Associates. By comparing ad recall and responses for broadcast radio listeners who don’t consume internet radio with those that do, the researchers make a strong case for the additive value of internet radio. For example, only 4% of those who recalled hearing a broadcast ad visited the advertised company’s website or searched online for product information. But the percentage jumped to 15% when an internet radio ad component was added. “Internet radio is effective on its own, as well as boosting the effectiveness of other mediums,” TargetSpot VP of marketing Amy Becker says. The study found the additive impact occurred across multiple categories. Adding internet radio ads doubled broadcast campaign recall for ads in the insurance, food and beverage and financial services categories, and tripled it for travel campaigns. Increases were lower for restaurants and automotive products. “This audience is highly engaged in the content and this engagement is driving recall and response well beyond the click,” Becker says. The percent of those who purchased a product or service at retail rose from 4% to 11%, those who became a fan or clicked “like” on a social network went from 0% to 8% and those who purchased a product or service online increased from 2% to 5%. TargetSpot execs will present the findings to ad agencies in New York tomorrow during a road show. Some results were also presented yesterday at the RAIN Summit West in Las Vegas
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