Articles from
2006
Additional Articles from 2006
“Magazines are the most consistent of all media in delivering both brand awareness and purchase intent,” claims Rex Briggs, CEO of Marketing Evolution and co-author of What Sticks.
His company looked at 19 cross-media accountability studies it had conducted for marketers in the automotive, pharmaceutical, entertainment, electronics, and retail categories, measuring the real-world results of 19 campaigns, and aggregated them to find patterns of how each medium (TV, internet, and magazines) delivered.
TV was dominant in all the studies as a way to increase brand awareness. But magazines proved to be more effective at both brand awareness and purchase intent. Magazines were superior to both TV and online in driving purchase intent.
According to Briggs, “Magazines are the most consistent performer of all media measured if you look at ROI.” As a marketer you maximize ROI when you use all media, and magazines are key to that. Each element of the marketing mix must find its own strength and leverage it to surround the consumer with a synergistic and consistent message. Leaving magazines out of the mix is tremendous mistake.
(Adapted from Advertising Age 10/24/06)
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Christian Retail Marketing consultant, Jim Seybert recently noted there are many ways to keep track of your image and shared this useful tool you can use internally.
He had the privilege of sharing the podium with Harvard professor David Shore at a branding conference sponsored by the Direct Marketing Association. Dr. Shore presented a yardstick he uses to help organizations measure their own brand loyalty.
According to Shore, consumer acceptance of your brand will be at one of these five levels:
- Irresponsive – They have no idea you even exist.
- Irrelevant – They know about you but don’t care.
- Interesting – There is some casual and occasional use.
- Important – There is frequent use, you are always on their "shopping list."
- Indispensable – They go out of their way to use your product. Can’t live without you.
Ask this at your next staff meeting:
- What can we do to make sure our "level five" customers continue to find us indispensable?
- How can we change what we do to make it more relevant to "level 2" prospects who know about us, but don’t care?
- Are we investing too much in level 1 and 2 people? And not enough in keeping 4 and 5 where they are?
(Jim Seybert, Market Intelligence 8/06)
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The "Baby Boomer" generation consists of those that were born between 1946 and 1964. They represent 26.75% of the U.S. population and are the largest, fastest-growing and most affluent demographic group the United States has ever seen. They own more than 70% of U.S. financial assets, account for more than $2 trillion in income and watch more television and read more newspapers than any other demographic group. (AARP)
Businesses that effectively market to the needs of this generation will prosper. Target your messages by following these simple rules:
- Treat Everyone Differently: Don’t incorrectly assume there’s one “Boomer” market. This cohort of 78 million has numerous sub-segments.
- Put Some Feeling Into It: The older Boomers get, the more their decisions are driven by “gut feeling” than logic and reason.
- Be Positive: Use positive imagery and emotionally-meaningful messages.
- More is Better: Give them plenty of info to make an informed decision, and serve it in easy-to-digest chunks.
- Tell a Story: Capture attention with a story that will help them think about how their own situation relates to it.
- Aim Inwardly: Boomers over 50 have entered a stage of life where it isn’t about “becoming” but about “being.” Downplay social benefits and focus on internal benefits.
- Remember, It Is All About Me: Ads need to speak to them as individuals, not as an audience of many, even if the product or service is for the masses.
- Plays in the Gray: Boomers are skeptical about absolutes. Claims of superiority are also questioned. Focus on the functional attributes and benefits without relying on comparative claims.
- Use Life Stage, Not Age: Older Boomers feel at least 12 years younger than they are. Age-based messages are not relevant. Life stage messages (grandparent, parent of college-student, caregiver for aging parent, etc.) resonate strongly. Let them put themselves in the picture based on their own life stage, not their age.
- Learn, Baby, Learn: Demonstrate you understand they’re different from “seniors” and that you know they aren’t 30. Learn where they are in their lives and where and how your product or service fits.
(Boomer Marketing Council 6/13/06)
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Branding is built on our need to belong. The majority of our decisions-to-purchase involve self-definition. We buy what we buy to remind ourselves—and tell the world around us—who we are. What are you doing to better reflect who your customers believe themselves to be? Do you know who they believe themselves to be? Successful branding is to: (1) Know your customer. (2) Reinforce their self-image. (3) Make them feel they’ve found “home.”
(Monday Morning Memo 5/15/06)
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Strativity Group research finds only 46% of corporate executives are “truly committed to the customer,” for 3 years running.
The problem stems from a lack of understanding calls the "economics of relationships." More than 90% of responding companies were unaware of the cost of a complaint, the cost of a new customer, or the annual value of a customer. As a result many firms are chasing market share at the expense of profitability. 42% of companies will take any customer who is willing to pay, even though they might cost the company in the long run.
Too many executives are making decisions without knowing the basic costs of customer relationships.
By measuring changes in customer value, firms can be more strategic about their customer investments, how they handle certain customer groups, and can also balance long- and short-term goals.
(Adapted from an article titled Report Slams Executive Ignorance by Lior Arussy, Inside 1 to 1, 2/16/06)
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Overlay Maslow's Hierarchy of Needs onto the preference profiles of the Myers-Briggs Type Indicator and you'll soon recognize the four faces of your customers. And each of them is looking for something different from you:
Leader/Early Adopter, wants to be first-on-the-block:
Show them what’s :new.”
About 10% of the population
Outsider/Goes his-her own way, proudly independent:
They will strongly resist any attempt to direct them, so follow their lead.
About 9% of the population.
Analyst/Skeptic, looks for details, facts, and statistics:
Have meaningful data available. Answer questions precisely as asked.
About 24% of the population
Follower/Member of the Club, wants to be part of the “In” crowd:
Show them “what’s hot.” NOTE: Very few people are willing to define themselves as followers, even though they they’re attracted to best-selling items.
About 57% of the population
Keep your customer personas in mind when creating ads. Be prepared to sell each customers “their way.” Trained your staff to recognize each type and how to serve each differently?
(Adapted from Monday Morning Memo 5/15/06)
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A single ad that tries to hit all market segments just won’t cut it. For better returns on your promotional dollar, don’t let the focus get fuzzy. It may be that your advertising is overly generic and your message vague, marketing experts say. Afraid of leaving money on the table, many small to mid-size organizations tend to put out as broad a message as possible, trying to appeal to every conceivable customer or constituent. But the key for an effective ad is a narrow offering. One that is precisely targeted to the core audience for your product, service, or ministry. Surprisingly this approach makes marketing dollars go farther, because a narrow message can be placed in more specialized communication channels, especially e-channels, lowering cost and improving relevancy.
(Adapted from Business Week Online Small Biz Newsletter 3/21/05)
Basic Ad Check List:
- Don’t over look the obvious like typos in the headline or failing to put a contact address, e-mail, website or phone number on the ad.
- Things to keep in mind when marketing to the Christian consumer: They are people too. They shop at Wal-Mart, have problems, etc. Remember though, that for born-again Christians, their faith journey is their life. They’ll notice an empty marketing message. In this arena, it’s a level or two higher than whether you like the smooth or crunchy peanut butter. (Foster Network)
