Wednesday, March 31, 2010
Do you have video up on your website? If not, contact me I can help you!!!
Video, social media are increasingly attractive to local radio buyers. In a bit of irony nearly 30 years in the making, video may not have killed the radio star but instead is helping to sell the medium. “It is attractive for advertisers because it offers another dimension to the standard radio commercial,” says Beasley’s “Wired 96.5” WRDW, Philadelphia sales manager Rob Keegan. In one execution, WRDW morning co-host G-N Kang interviews the owners of an upscale hair salon in a video posted on the station’s website. The produced, edited clip shows customers getting Japanese straightening and Brazilian keratin treatments. It’s part of Style Watch, the morning personality’s online video feature that showcases boutiques, websites and salons. Kang promotes the video feature on the morning show and drives traffic to the station website where listeners can connect with Salon 4th and other merchants that jibe with the lifestyle of the rhythmic CHR station’s listeners. It’s only one example of how local advertisers are using video and interactive components in their radio campaigns. “Video is becoming more popular in our presentations to our advertisers. It’s the one way where we can have real people and our jocks experience our clients’ products and see it played out through the star power of our jocks,” says Keegan. A Tropicana Reality Star campaign designed to promote the Atlantic City casino’s nightclubs as hip destinations involved contest winners and jocks making amateur videos of their night out at the casino. The reality show-style videos — think MTV’s “Jersey Shore” — were posted on the station’s website. Mentions on personalities’ social media pages also hold cache for local clients and Keegan notes some even want them written into sales contracts. Jocks also Twitter about their club and car dealer appearances. “If you’re live and local and you serve the community, you have influence and advertisers can capitalize on that,” Keegan says. “You’re doing it with more than just through the airwaves
Tuesday, March 30, 2010
Recession-weary consumers looking for value
The late ‘90s mantra of “Show me the money” has morphed into “Show me the value,” reflecting a new focus by consumers hungry for value in all its forms, according to Convergys’ recently completed 2010 Consumer Scorecard Research study. Recession-weary American consumers want the companies with which they do business to value them, value their time, value their money, and value their preferences, say the study findings, released by Convergys Corporation.
“Today’s consumer expectations are clear. They expect good value for their money and timely acknowledgement and resolution of their issues by knowledgeable employees,” said Jim Boyce, President, Global Sales and Services, Convergys. “Consumers will simply take their business elsewhere when their needs are not met. At the same time, the companies that have the customer service mechanisms in place to give their customers what they want are the companies that will retain and even grow market share,” he said of the study findings.
Convergys, a global company which calls its business “relationship management,” conducts primary research to advise its clients on how best they can differentiate themselves and win through the customer service experience. Results from Convergys’ second annual consumer research study demonstrate that the recession has increased consumer demand for excellence in customer service. 46% of the study respondents reported that they are worse off than they were a year ago, and the key word for today’s consumers is “value:”
Value my time: Consumers continue to expect superior customer service experiences, with 33% of survey respondents choosing “addresses my needs on first contact” as the top customer service attribute, up slightly from the 2008 pre-recession research. Since they are key to first-contact resolution, “knowledgeable employees” also ranked high, chosen by 25% of consumers as the third most important customer service attribute, up from 22% in 2008.
Value my money: Recession-weary consumers are not just looking for the lowest cost but the best value in their customer transactions. 31% of survey respondents chose “good value for the money” as the second most important customer service attribute, up significantly from 2008. 33% of respondents rated reliable service as more important than price in their definition of what constitutes “good value for money.” Only 5% of customers defined good value as “paying the lowest price.”
Value me: “Treats me like a valued customer” was the fourth most important attribute, cited by 22% of survey respondents, up from 13% in 2008 and the fastest growing attribute of choice for consumers who want positive acknowledgment from the companies that win their business.
Value my preferences: Survey respondents’ contact channel preferences point to an increasing need for multiple customer care solutions that combine agent-assisted service with automation and self-service options. While consumers still prefer to speak with a customer service agent, customer service via self- service, live web chat, automated phone systems, and e-mail with response is also gaining traction.
Despite consumers’ clear preferences for value and efficient issue resolution, bad customer experiences continue to frustrate consumers, 57% of whom reported having a bad experience with a company, up slightly from 2008. In response, today’s value-minded consumer is more likely to speak with his or her wallet: 44% of the survey respondents who had a bad experience reported that they stopped doing business with that company, up from 38% in 2008. THAT'S HUGE!!!
Those who stay are more likely to seek and expect resolution from a company when they do not receive the service and value they expect. Survey respondents reported that they informed companies of their bad experiences 66% of the time, up from 58% in 2008. Companies that were not equipped to resolve or respond to customer complaints paid the price in customer defections. 57% of survey respondents who reported a bad experience and did not receive a response from the company stopped doing business with the offending party, as did 50% of respondents who received a response without resolution.
80% of survey respondents who had a bad experience with a company also told their friends and colleagues about it, ( Pay attention to this...)spreading the word through face-to-face chats, e-mails, text messages, and social media, which has immense power to amplify the voice of the frustrated consumer widely among a company’s customers and potential customers.
“There is a silver lining,” says Boyce. “Our research found that a meaningful number of customers who stopped doing business with a company after a bad experience would do business with that company again if the company made an effort to win them back.”
Convergys’ Customer Intelligence Services surveyed 2,500 customers, 1,500 employees, and 120 executives of large companies in the United States and the United Kingdom in January 2010.
“Today’s consumer expectations are clear. They expect good value for their money and timely acknowledgement and resolution of their issues by knowledgeable employees,” said Jim Boyce, President, Global Sales and Services, Convergys. “Consumers will simply take their business elsewhere when their needs are not met. At the same time, the companies that have the customer service mechanisms in place to give their customers what they want are the companies that will retain and even grow market share,” he said of the study findings.
Convergys, a global company which calls its business “relationship management,” conducts primary research to advise its clients on how best they can differentiate themselves and win through the customer service experience. Results from Convergys’ second annual consumer research study demonstrate that the recession has increased consumer demand for excellence in customer service. 46% of the study respondents reported that they are worse off than they were a year ago, and the key word for today’s consumers is “value:”
Value my time: Consumers continue to expect superior customer service experiences, with 33% of survey respondents choosing “addresses my needs on first contact” as the top customer service attribute, up slightly from the 2008 pre-recession research. Since they are key to first-contact resolution, “knowledgeable employees” also ranked high, chosen by 25% of consumers as the third most important customer service attribute, up from 22% in 2008.
Value my money: Recession-weary consumers are not just looking for the lowest cost but the best value in their customer transactions. 31% of survey respondents chose “good value for the money” as the second most important customer service attribute, up significantly from 2008. 33% of respondents rated reliable service as more important than price in their definition of what constitutes “good value for money.” Only 5% of customers defined good value as “paying the lowest price.”
Value me: “Treats me like a valued customer” was the fourth most important attribute, cited by 22% of survey respondents, up from 13% in 2008 and the fastest growing attribute of choice for consumers who want positive acknowledgment from the companies that win their business.
Value my preferences: Survey respondents’ contact channel preferences point to an increasing need for multiple customer care solutions that combine agent-assisted service with automation and self-service options. While consumers still prefer to speak with a customer service agent, customer service via self- service, live web chat, automated phone systems, and e-mail with response is also gaining traction.
Despite consumers’ clear preferences for value and efficient issue resolution, bad customer experiences continue to frustrate consumers, 57% of whom reported having a bad experience with a company, up slightly from 2008. In response, today’s value-minded consumer is more likely to speak with his or her wallet: 44% of the survey respondents who had a bad experience reported that they stopped doing business with that company, up from 38% in 2008. THAT'S HUGE!!!
Those who stay are more likely to seek and expect resolution from a company when they do not receive the service and value they expect. Survey respondents reported that they informed companies of their bad experiences 66% of the time, up from 58% in 2008. Companies that were not equipped to resolve or respond to customer complaints paid the price in customer defections. 57% of survey respondents who reported a bad experience and did not receive a response from the company stopped doing business with the offending party, as did 50% of respondents who received a response without resolution.
80% of survey respondents who had a bad experience with a company also told their friends and colleagues about it, ( Pay attention to this...)spreading the word through face-to-face chats, e-mails, text messages, and social media, which has immense power to amplify the voice of the frustrated consumer widely among a company’s customers and potential customers.
“There is a silver lining,” says Boyce. “Our research found that a meaningful number of customers who stopped doing business with a company after a bad experience would do business with that company again if the company made an effort to win them back.”
Convergys’ Customer Intelligence Services surveyed 2,500 customers, 1,500 employees, and 120 executives of large companies in the United States and the United Kingdom in January 2010.
Thursday, March 25, 2010
It's been a while!!
WOW! Sorry I've been gone so long! I got married October 24th 2009... And as you can see my last blog was the end of September...If anyone reading this has ever planned a wedding and worked full time they may understand why I didn't have much time to blog...let only think about it for that matter...BUT I'M BACK!!!!!!!!!! And now officially Mrs. Bevacqua :)
So just a few words of encouragement for the day..........
PREPARE YOURSELF FOR SUCCESS.
-----------------------------------------------
Luck is a matter of preparation meeting opportunity.
Don't miss out on an opportunity because you're not prepared.
There is no shortage of opportunity.
Everyday you're presented with countless opportunities to be,
or do whatever you desire.
Your preparation is absolutely essential.
To achieve success, you must have self discipline.
You must increase your knowledge and develop your skills.
When you're prepared,
you're always at the right place at the right time.
----------------------------------------------
So just a few words of encouragement for the day..........
PREPARE YOURSELF FOR SUCCESS.
-----------------------------------------------
Luck is a matter of preparation meeting opportunity.
Don't miss out on an opportunity because you're not prepared.
There is no shortage of opportunity.
Everyday you're presented with countless opportunities to be,
or do whatever you desire.
Your preparation is absolutely essential.
To achieve success, you must have self discipline.
You must increase your knowledge and develop your skills.
When you're prepared,
you're always at the right place at the right time.
----------------------------------------------
Wednesday, September 16, 2009
Friday, September 11, 2009
Pay for stuff
As a bootstrapping entrepreneur, my instinct has always been to work before spend. If there was a way to spread the word virally instead of buying ads, I would. If there was a way to change the project so I could do it myself, I would. If I could trade or whittle my way into getting an asset on the come, I would. That's the mantra of the bootstrapper.
It turns out that paying for stuff works too.
Ads that pay for themselves are worth buying. Employees and freelancers that produce more than they cost are worth hiring. Office rents that generate productivity, foot traffic or revenue are probably worth paying.
In the free media world in which we're living now, it's so easy to get stuck on not investing, on avoiding outlays at all cost. Frugal is an admirable trait, but being a miser is dumb.
On Behalf Of Seth Godin
Good read!! Wanted to share!
It turns out that paying for stuff works too.
Ads that pay for themselves are worth buying. Employees and freelancers that produce more than they cost are worth hiring. Office rents that generate productivity, foot traffic or revenue are probably worth paying.
In the free media world in which we're living now, it's so easy to get stuck on not investing, on avoiding outlays at all cost. Frugal is an admirable trait, but being a miser is dumb.
On Behalf Of Seth Godin
Good read!! Wanted to share!
Tuesday, September 1, 2009
HOW TO JUMP START YOU RETURN ON EXPENSES!
The first step is critical. Clarify for yourself your difference between expense items and investment items. Read that sentence again. The key idea is in ‘clarify for yourself your difference’. We all know the accounting definition of expenses and investments. And your CFO probably has his or her personal way of looking at expenses and investments in terms of your business. But what is your definition? We want you to acknowledge that some ‘expenses’ are actually ‘investments’ that you know you must make to secure a better future for your business. The problem is that as long as you think of them as expenses you will hesitate to make the required investment, irrespective of your financial situation. As long as you talk about these investments as ‘expenses’ or ‘costs’, managers will automatically want to minimize them. Many a growth strategy has failed because managers have set out to minimize the expenditure instead of optimizing the investment.
During difficult times, some companies see their media budgets as an easy place to look to cut operational expenses. Cutting advertising and media to protect profit is a short term fix at best. At worst it can be a costly long-term mistake as you miss out on the opportunity to grow market share as the market rebounds. And yet, the pressure to survive the short-term can be enormous. So what should you do?
The purpose of any media plan is to reach as many different potential customers as possible before the money runs out. Pretty simple, isn’t it? Now think effectiveness and efficiency – the two main ways your media buy should work for you. Before we go any further, let’s agree on what we mean by effectiveness and efficiency – concepts that we think are used too broadly. Effectiveness has to do with your planned outcome (the effect) while efficiency relates to the ratio of resources used to create the outcome. Simplistically, the one has to do with output and the other with input.
Now, if you can achieve the same output with less input (money), you’ve hit a home run. Flip it, and you’ve also done alright if you can achieve more output (media) for the same input. In both cases you have maintained your effectiveness at greater efficiency.
A. Ask for help: Many people like to be helpful. If you don’t like asking for help, then ask questions. Many people like to show off what they know. People at media agencies are no different. Ask. You have nothing to lose and much to gain.
B. Be flexible: Before you develop a (media) plan, develop a flexible mind set. Rigid plans look good on paper, but don’t work in changing environments. Few things hamper your ability to find cost savings than a historic attachment to ‘but we’ve always done it this way’. Next, make sure this flexibility mindset is passed on to your media partners so they can also uncover opportunities for you.
C. Create your plan: Be clear on the outcome you want from your media strategy. Modify and strengthen your media plan as appropriate to deliver the desired results. Only then should you look for savings in a more efficient execution of the best plan possible. Don’t make the classic mistake of looking for savings first at the buying end of this equation.
D. Definitely negotiate: Everybody wants the best deal they can get. This is why negotiation matters. Many people still assume that negotiation is about persuading others to accept your terms. It is not. Negotiation is about finding terms of agreement that best suit your goals. Be smarter, more flexible, user friendly, and fair minded and you will be successful in negotiating. This is especially true in today’s media marketplace where relationships are very important.
E. Excel before moving on: Plans are least effective when too many actions are attempted at the same time. It’s usually a case of limited resources spread too thin. Make sure you hit your goals effectively and efficiently in your primary media choice before moving to the next one. Your plan will gain traction and momentum if your priorities are exactly right.
Our ABCDE of media buying is aimed at helping you keep the longer term in mind (investments) while you make day-to-day cash-flow decisions. We plan to expand on these ideas in a future article. Until then, keep in mind that we have all become conditioned, in an economic downturn, to react to expenses. In preparation for the upturn, we must become proactive. Begin by thinking, speaking and deciding in terms of investments.
-- Jeff Jones and James McIntosh collaborated in writing this article. They have had a classic vendor-client relationship for the past three years that has morphed into a good example of the theme of this article. They took an expense item (consulting fees) and turned it into an investment that has paid off for both parties – well beyond their original intention. Jeff is CEO of WFofR Media (www.wfofr.com) and James is Chief Nonsense Officer of Nonsense At Work (www.nonsenseatwork.com).
During difficult times, some companies see their media budgets as an easy place to look to cut operational expenses. Cutting advertising and media to protect profit is a short term fix at best. At worst it can be a costly long-term mistake as you miss out on the opportunity to grow market share as the market rebounds. And yet, the pressure to survive the short-term can be enormous. So what should you do?
The purpose of any media plan is to reach as many different potential customers as possible before the money runs out. Pretty simple, isn’t it? Now think effectiveness and efficiency – the two main ways your media buy should work for you. Before we go any further, let’s agree on what we mean by effectiveness and efficiency – concepts that we think are used too broadly. Effectiveness has to do with your planned outcome (the effect) while efficiency relates to the ratio of resources used to create the outcome. Simplistically, the one has to do with output and the other with input.
Now, if you can achieve the same output with less input (money), you’ve hit a home run. Flip it, and you’ve also done alright if you can achieve more output (media) for the same input. In both cases you have maintained your effectiveness at greater efficiency.
A. Ask for help: Many people like to be helpful. If you don’t like asking for help, then ask questions. Many people like to show off what they know. People at media agencies are no different. Ask. You have nothing to lose and much to gain.
B. Be flexible: Before you develop a (media) plan, develop a flexible mind set. Rigid plans look good on paper, but don’t work in changing environments. Few things hamper your ability to find cost savings than a historic attachment to ‘but we’ve always done it this way’. Next, make sure this flexibility mindset is passed on to your media partners so they can also uncover opportunities for you.
C. Create your plan: Be clear on the outcome you want from your media strategy. Modify and strengthen your media plan as appropriate to deliver the desired results. Only then should you look for savings in a more efficient execution of the best plan possible. Don’t make the classic mistake of looking for savings first at the buying end of this equation.
D. Definitely negotiate: Everybody wants the best deal they can get. This is why negotiation matters. Many people still assume that negotiation is about persuading others to accept your terms. It is not. Negotiation is about finding terms of agreement that best suit your goals. Be smarter, more flexible, user friendly, and fair minded and you will be successful in negotiating. This is especially true in today’s media marketplace where relationships are very important.
E. Excel before moving on: Plans are least effective when too many actions are attempted at the same time. It’s usually a case of limited resources spread too thin. Make sure you hit your goals effectively and efficiently in your primary media choice before moving to the next one. Your plan will gain traction and momentum if your priorities are exactly right.
Our ABCDE of media buying is aimed at helping you keep the longer term in mind (investments) while you make day-to-day cash-flow decisions. We plan to expand on these ideas in a future article. Until then, keep in mind that we have all become conditioned, in an economic downturn, to react to expenses. In preparation for the upturn, we must become proactive. Begin by thinking, speaking and deciding in terms of investments.
-- Jeff Jones and James McIntosh collaborated in writing this article. They have had a classic vendor-client relationship for the past three years that has morphed into a good example of the theme of this article. They took an expense item (consulting fees) and turned it into an investment that has paid off for both parties – well beyond their original intention. Jeff is CEO of WFofR Media (www.wfofr.com) and James is Chief Nonsense Officer of Nonsense At Work (www.nonsenseatwork.com).
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