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Grow! by Paul Martin

Posts Tagged 'Advertising'

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Unwanted Research Results: Taking a Step Toward Success

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Jim Seybert wrote a great devotional guide for leaders and managers titled, “One Year Mini for Leaders”.  His entry for February 3 ties into several conversations I enjoyed over the last couple of weeks with clients and friends.  I think you will enjoy it, too. Do Your Research “He waited another seven days and then released the dove again. This time it did not come back.” Genesis8:12 Imagine Noah’s disappointment when the dove came back the first time with nothing in its beak. He had done his research, and it had failed – or had it? It’s my belief that properly conducted research is never a failure because you learn something even when the results are not what you expected. In fact, a survey that reveals an unexpected result is probably more successful than one that just confirms what you already knew. Noah did not change his approach on the second and third attempts. He ran the research exactly the same all three times. Release the dove, wait for it ...

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The power of radio and the road ahead

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Success follows those adept at preserving the substance of the past by clothing it in the forms of the future. Dee Hock Founder and CEO, Visa International All those opinions on the future of traditional media are dizzying: newspapers are old news; television has no vision; radio--well, few talk of radio. Maybe that is because radio is a part of our past that will continue to be a part of our future.  But even radio isn't immune to the dramatic changes in the media scene. There are just about as many radio listeners as any time in modern history. There are just fewer radio advertisers than any time in modern history. Even still, radio powers consumer awareness and consumption of the events, the services and the products America purchases. Sure, online venues (social media, blogs, micro-blogs, search engines, email marketing--to name a few) are growing new viewers and increasing time spent with media.  But new media seem to be getting their minutes fr ...

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Take aim, be sharp

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My digital camera broke a few weeks ago so I found a inexpensive replacement. This new, improved model helps the photographer focus on the subject through some crazy electronics guided by an easy-to-use user interface (a viewfinder with a focus area bracket). All it needs to capture a great shot is for me to get the point of focus between those little brackets. If the little brackets are to the right of the flower, I get a sharp picture of a gray fence post...not exactly what I want. Business development is like that, too. During a recession, we know--in our heart--that we need to sharpen our focus. Often, we sharpen our focus on fewer, bigger clients. That's not the strategy that succeeds in a downturn. Since we don't know which industries will improve first, we need to have a systematic way to discover when a prospect industry is emerging. In essence, we need to systematically call on sectors--we could spend a week prospecting on each industry. That covers the industry emergence, but certain businesse ...

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Helping buyers in a recession

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"It's really hard to get a buyer's attention anymore." "Buyers seems to study things a lot longer than they used to." "My buyers are purchasing--but not buying from me as often." I've heard a lot of concerns like this from the sales teams I coach. Then I caught Scott Albro, CEO of Tippit--a technology sales research firm, on a webinar "Buyer Behavior in a Recession". (I like to check out the technology sales world since they seem to have a lot more sales research available and the principles really work well for commercial and non-commercial radio.) The webinar is worth the 30 minutes. Tippit research shows buyers have changed during the recession--and these changes appear to be permament, so we better get used to the new reality of working with prospects and customers. Here are a few things they discovered and some of the implications I can see for radio sales: Scarcity of Attention It is harder than ever to get a prospect's attention. They're harder to get on the phone. They're harder to get to return ...

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Social Conflict

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How can up really be down? The Up Part: Nielsen Online says that social networks and member communities grew their reach to exceed e-mail. Social networks score an active reach of 66.8% while e-mail expanded its reach to 65.1%. Social networking saw Time Spent Viewing increase dramatically in the past year. Sounds like member networks are the social thing to do. The Down Part: But take a look at the marketing impact of these media. IDC found that 43% of social network users never clicked on ads, and only 11% of those who did actually purchased anything. Those who don't use social networks clicked on ads at least once per year and 23% bought something. So Econsultancy and R.O.EYE (my vote for current favorite business name) found e-mail marketing to be very cost-effective for customer acquisition. Very cost-effective Quite cost-effective Not cost-effective E-mail marketing 51% 3 ...

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If your product or service isn't relevant, price doesn't matter

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If your product or service isn't relevant, price doesn't matter. During economic turbulence, relevance matters even more--to listeners and to businesses. Few businesses understand the importance of branding when sales are low. The business' priority is growing their sales. So to get the attention of the business, show them a one-hop way of making a sale that ties to your station promotion. A one-hop method basically means that the business person doesn't have to be very imaginative or very patient to see how their investment in the promotion will return dollars. During a recession, time is limited and cash is limited. So to be relevant, a station representative must show a quick way to return cash. During times of plenty, prestige can mean more so cash returns can slow a bit--but the promotion can't require too much imagination or patience from the business. Whether a schedule of underwriting, commercial announcements or a promotion, station business development re ...

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The Frogs and the Tower

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“I think it’s more essential to innovate through a recession, and certainly what we’re trying to do at P&G is to continue to bring sustaining and even disruptive new brands and products for our consumers, to make their lives better, to offer them a little more value.” A.G. Lafley, Chairman and CEO of Procter & Gamble In What do these three products have in common?, I mentioned that Andrew Razeghi, adjunct associate professor at the Kellogg School of Management at Northwestern University wrote a provoking white paper on innovation. Razeghi encourages seven points to implement in times like these: Listen to the market. It’s quieter when it’s less crowded. Unmet needs abound. Invest in your customers. Now they need you most. Loyalty hangs in the balance. Rather than reduce price, offer more value to your customers and demand greater value from vendors. Increase communication with your customers. Move longer-term projects forward ...

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The Bible Belt takes it up a notch

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One aspect of Gallup's State of the States study is the importance of religion. Over 65% of all Americans say religion is an important part of their daily lives. As far as nations go, that's a pretty big number. "At least half of the residents of all but four states (Vermont, New Hampshire, Maine and Massachusetts) say religion is important in their daily lives." Forty-six states--including some notably liberal states--show that more than half of their residents affirm the importance of religion in their life. Granted, the study says "religion"--not a relationship with Jesus--so this doesn't necessarily connote Christian followership, but it is a reasonable assumption that Christianity comprises far and away the largest component. In a study several years ago, researchers at Notre Dame discovered that there are actually two Bible Belts. As best as I can recall, one of the belts runs from Lubbock, Texas to Atlanta, Georgia (along I-20), continuing north on I-95 to about Richmond, Virginia. The second be ...

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Good prospects for business development

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It sure seems like it is taking longer than every to bring a business development prospect to the point of being a customer.  That's why I look for any way to help best appraise the monetary value of a prospect before I begin investing my time. Schonfeld and Associates prepared a study that shows the Advertising to Sales Ratios for most every industry.  In essence, you can find how much each industry typically spends on advertising and select prospects with an idea of what they might invest in advertising. Here are some examples from Schoenfeld's 2008 study: Advertising as a Percentage of Industry Sales Amusement Parks 8.5% Auto Dealers 0.8% Auto Repair 4.6% Soft Drink Bottlers 3.5% Department Stores 5.1% ...

Comments
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    Great Pics and the insane section ray ban sunglasses sale is always that people appear hence innocent...

    -- alaso

  2. Re: Helping Leaders Make Good Decisions In An Indecisive Time

    I think #4 is the key. In today's world it is more important than ever to be sensitive to when a strategy...

    -- Ben Armitage

  3. Re: America’s Most and Least Bible-Minded Cities

    Bible-Mindedness how is that defined?

    -- PastorKenT