Written by: Timo Matero, CEO - Primary Founder Accelerator Advertising, Inc.
The Accelerator Companies
www.resultsdriven.info
Way back in January of this year, I was predicting a basically flat economy, stinky housing outlooks and $4.50 a gallon gas by summer. Summer's almost here and the indicators are right on track with my predictions.
It's not too hard to figure out by now, that THINGS ARE NEVER GOING TO GET BACK TO "NORMAL". Our current economy, our personal situations, and consumer behaviors are the way they are going to be for a very long time. There will be some incremental improvements to be sure. But these last few years have fundamentally changed industry, people, politics, investments, and our thinking forever.
Marketers will have to adjust their messages, offerings and mediums for the way their consumers live now. CFO's will have to adjust budgets, settle for less top line and more trim bottom lines. Retailers will have to raise prices; consumers will continue to be squeezed for their last few dollars. Even the retailer giant Walmart announced not too long ago that their customers were "running out of money".
Consumers are going to act differently moving forward. Hard times have a way of altering behaviors permanently. Folks who lived through the great depression were literally stuffing money in mattresses and burying coffee cans filled with coins in the back yard for the rest of their lives. They scrimped, saved, never wasted, re-used, did without, and lived well within their means. Just like most of us commoners now have to do today and probably will for decades to come.
So, my advice to you as a marketer is this: Don't wait for things to go back to normal. Don't settle for normal. Don't think, act, communicate, assume, promote, budget, and plan like you normally would have in the past. Normal doesn't live here anymore.
Be sure to read my upcoming blog, "These Guys Aren't Normal... Thank Goodness!" for the bright side of all this.
*Not only is this headline a descriptive introduction to my latest TruthSerum post, it is Accelerator's new slogan!
You've done what everyone's told you to do. You've gotten your Facebook fan page up and running. You've got your Twitter, tweeting. And you've even got followers and likes-a-plenty. Now what?
If you're like other socially savvy marketing folks, you're putting up timely information about your products, causes, and promotions. You're listening for customer complaints and helping to turn grumblers into ambassadors. Basically you're keeping busy but haven't yet found a way turn social media into something that will contribute to your revenue stream.
Revenue is something most social media efforts are missing. Why? I can tell you what it may be...motivation.
Getting your followers and likes to actually DO something that will build your business. Testing the personal relationship you've made with them and motivating them to take the next step to buy or try your products and services.
It's a lesson every small business owner from a dry cleaner to a pizza shop learns about motivating customers early on, something they don't teach at the Snootington College of Business, and that is , " WE APPRECIATE YOUR BUSINESS and PLEASE TRY OUR OTHER OFFERINGS". Marketers get so caught up in devising ways to "go viral" from sweepstakes, to group deals, to hash tag contests, they forget the simple, pure power of simply asking people politely to "Buy something from us..."
I know. Social media conventional wisdom says you're not supposed to be pushy. You're not supposed to sell in social media or you'll turn your base off. But I say, if you have a true relationship with your social followers, they will appreciate and respond to a sales invitation, provided you don't do over repeat it or it isn't relevant to their lifestyle.
Ask your followers to buy or try something in a polite, friendly way. You will be amazed at the results! Oh, and if you appreciate sound advice like you're reading today, Please call or email us for a consultation. We would love to work for you. Thanks!
Way back in 2008 before there was an "official" recession, our agency noted a significant pull back from our clients in terms of media spends and initiatives.
Then along came the paralyzing slump of 2009 that killed off many independent ad shops, printers, and media agencies despite the so-called "stimulus".
2010 however saw everyone climbing into and clinging onto the "social media lifeboat" for all they we worth. And thankfully we survived.
So what will happen in 2011?
Prognostication, unless you're a ground hog can be a tricky past time, but I'm willing to stick my neck out. From what I'm foreseeing now, here's how it looks:
• Unemployment will continue to hover around 10%
• Housing starts will continue to wallow in the pits
• Oil will continue to climb and yes, this will put at gas at around $4.50 this summer, as it always magically does between Memorial Day and Labor Day. Go figure.
• Retail sales will remain flat
So there you have it. Another bleak outlook for yet another challenging year. But now for the good news. (There always is a silver lining you know!)
• As people get adjusted their new "Normal" personal economies, new services and products based upon value and making a connection with the consumer will skyrocket. You're already seeing this happen. Just yesterday I saw a commercial where H & R Block is offering free simple tax return preparing in an attempt to lure a new base of customers based on value. Of course, there will be an up sell once they get they in the door, but hey... they're there!
• More social media applications will flood the market making it even easier for brands to monetize their social media efforts, and for fans to "like" them.
• People who have been putting off larger purchases such as cars, computers and appliances will buy this year. Not because they want to, but because they can't put it off any longer. Heck. It's been almost 3 years since last they've had a technology upgrade, and that family wagon is going on 7 years or more.
• People are going to stop waiting for the government to pull them out of the malaise because they can see the stimulus plans have done nothing but stimulate the government.
• The unemployed are going to look for ANY work, not just work they want.
• Businesses are going to find ways to survive despite all the new mandates and regulations, and that means forcing innovation and supplying products people want versus cutting back (which they can't do anyway).
2011 will be a year for people and business to adjust to the downsize, and come to the realization that America has a far way to go to get back to the heady days before the bubbles burst.
2011 is the Year of Acceptance. Let's move forward in confidence knowing that we've woken up, we're going back to basics, and we're up for restructuring and rebuilding our lives, our businesses and our country, one positive step after another. It's going to take patience, work, and determination. I'm up for the challenge. Are you?
Author: Mr. Timo Matero, CEO and Director, Accelerator Advertising, Inc.
Author: Marc Obregon, President, Accelerator Advertising, Inc.
Author: Mr. Timo Matero, CEO and Director, Accelerator Advertising, Inc.
Author: Marc Obregon, President, Accelerator Advertising, Inc.
Wake up marketers! It’s a world where the inmates run the asylum and you’d better learn how they do it! For decades now, marketers and brands have enjoyed the power to craft their messages and dictate how consumers should view their products. One need only to do a quick Google search for, “The Snuggie” to see how consumer driven content can benefit or damage your marketing efforts.
The Snuggie has been embraced, and become a part of popular culture with YouTube videos, blogs, and viral content all driven by popular demand. It’s this wave of new media frenzy that can either catch a brand (or product) and propel it to lofty sales record heights or bring it down to be dashed on the rocks unmercifully. As marketers, we need to watch, listen and learn from the successes and failures of trying to influence the new media marketplace. That is, learn the best ways to embrace it, as did Mentos, or when to reject it, such as Sony’s SCEA fiasco.
There are plenty of great resources out there to get you up to speed. But if you ask me, you’ll be better off sitting on your couch, (wrapped in a Snuggie) as you browse the popular social mediums and learn by observation before you head forth into this vast new world.
Author: Mr. Timo Matero, CEO and Director, Accelerator Advertising, Inc.
In this down economy advertisers are going to have change their messaging. And the more quickly they do, the better off their numbers will become.
Here are a few common sense guidelines for marketing in a recession:
1. Stress the VALUE PROPOSITION of your products or services, rather than features and benefits. Think about how your brand will make a significant difference to your audience in terms they will value and understand. Consider the success of Walmart’s Save Money. Live Better campaign. Talk about throwing a value proposition out there for everyone to see and grab hold of, huh?
2. Make price messaging secondary to longevity, savings achieved over the lifetime of ownership, hand-me-down-ability, and real-user and professional product / satisfaction reviews. When pennies get pinched, shoppers look for those products and services that will give them extended value for money, not the quick fix. If your product lasts longer, say so. If it cuts other expenses, tout it. Think of all the great messaging that helps a person rationalize purchasing a product that is employed by successful infomercials. Could your brand promotion use a little more Shamwow?
3. Emphasize how your offerings will help them “get back to basics” of thrift and frugality. In the age of consumerism everyone wanted to “keep up with the Jones’”, now everyone will want to “out-frugal” one another. Making less do more is fast becoming trendy. Consumption of oil and gas has continued to decrease even as prices are falling through the floor. The retail sector has seen a dismal drop since October ‘08. People are spending less and using credit less. Meals at home are more frequent and the list goes on and on. Being frugal is now a virtue and being cheap is noble. Your messaging should mirror those values.
4. When belts tighten, advertising and promotional messaging becomes more scrutinized and offers and discounts get shopped. Be sure to make your advertising simple, creative and most of all honest. Savvy shoppers will now sift through all the mediums and take plenty of time researching their options prior to making a large purchasing decision. Be sure your messaging is believable and of honest value if you expect to attract shoppers this upcoming year.
Here’s to a great new year! Yes, it will be challenging for marketers and agencies, but the opportunities to build brands and champion categories like never before!
www.resultsdriven.infoYou know the kind of idea I’m talking about – the kind of fresh, share-stealing, eye-popping idea that makes everyone in your department, division, company and industry stand slack-jawed in AWE and enviously murmur in their minds, “I wish I would have thought of THAT.”
I am talking about the kind of idea that puts YOU on the map, lets you write your own ticket, and helps you make your career. Success as you’ve known it to be will pale in comparison to the success you know when THE IDEA is put into action on your brand. This IDEA is so big it will require its own special budget, which they will give you… willingly.
If you’ve experienced THE IDEA, you know to what I’m referring. If you haven’t, then you’re probably sitting in your chair wondering how to go about getting your very own IDEA.
Here’s how.
1. Be prepared. Know your market. Know your brand. Read all you can about the market you’re operating in. Follow trade journals, read press releases, go to conventions, know your market inside out. Then study the impact your brand has on that market.
2. Become your target. Shop where she shops. Dine where she dines. Read what she reads. Watch the programs she watches. Soon enough you will see opportunities to connect with her in ways you’ve never thought possible, and ways to improve your product for her no one else has imagined.
3. Be open to new ideas. If your agency strategist recommends an unproven path, consider it. If a cabbie tells you he thinks he has an idea for a better widget, listen to him. Great ideas come from everywhere if you’re willing to listen. Remember, you’re only an expert in your market – not in everything.
4. Be ready to capture all of your thoughts on a notepad, PDA, voice recorder, napkin, whatever. Often THE IDEA won’t appear all once, but in small parts and pieces.
Congratulations! THE IDEA is on its way!
OK, so what happens now? When THE IDEA comes, don’t tell anyone right away! Of course you’re excited. It’s THE IDEA, after all. You’re pumped. You’re jazzed. But now is not the time to disclose THE IDEA. You first must explore it further. Study it. Try to sink it.
Get your facts down, understand the barriers and the rewards of THE IDEA. This is no time for team sharing, committees, or allowing glory-grabbing upperclassmen to steal it away from you. This is the time to keep quiet and document your progress every step of the way.
After that, make THE IDEA presentable. Make it into a formal business case. When you are ready to announce it, THE IDEA should be solid, comprehensive, well thought out… and yours.
Ready to make your mark on the world now? THE IDEA is out there waiting for you – now go get it!