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.