Many apologies for being away for so long. It’s not a good excuse but we’ve been busy doing some very exciting things - so many that I won’t be able to fit them all into this posting but it will give me plenty of material and incentive to update more frequently.
Let’s start with the most exciting news… Entercom Sacramento has a brand new radio station. Enjoy this video and I’ll be back soon with more.
I wanted to share an an article from PROMO magazine that reviews a recent study showing how the recession has impacted consumer’s habits and should affect marketing tactics as well…
Profound Shift in Consumer Saving and Spending: Survey
The recession has proven particularly difficult for African Americans and Hispanics, who have dipped more often into savings to pay for expenses than the national sample of respondents and who are working longer hours to make ends meet, Citi said.
The survey found that 63% of Americans surveyed said their spending and saving habits have forever changed as a result of the recession. Less than a third, 29%, expect to return to their old spending ways.
Moving forward, marketers will have to craft messaging and promotions in a marketplace where 59% of respondents said they will continue to cut back on everyday expenses, 60% will continue to save and invest more, 61% will continue to cut down on credit card purchases and 63% will continue to reduce debt. Read more
From today’s Radio/TV Business Report…
Radio reaches more than 235 million persons age 12+ over the course of a typical week, according to the RADA
R 102 National Radio Listening Report which releases 9/21. Since the December 2007 RADAR 95 report, the national radio listening estimates and network radio audience reports have been based on PPM respondents from within commercialized PPM markets and on diary respondents from the balance of the United States. The combination of PPM and diary respondents have shown more listeners to radio over the course of a week versus the 2007 RADAR listening reports which were based on diary respondents alone.
As additional radio markets transition to electronic measurement, total radio reach is revealed to be larger than in previous surveys. Listening has also risen year over year. Over the course of a typical week, more than 214 million persons age 12 and older tune to the more than 7,700 RADAR Network Affiliated stations, up from 210 million listeners one year ago in RADAR 98.
Radio reaches 92% of persons 12+ each week, despite the adoption of MP3 players and the growth of Internet-only stations. Even 90% of the youngest radio audience, teens ages 12-17, most accustomed to using new technologies and forms of media, continue to tune in each week. Network radio also reaches nearly 85% of the ad elusive and media multi-taskers Adults 18-34.
Read a great article in the recent Brandweek on something I’ve believed for years - mainly because I do most of the grocery shopping at my house. Men shop (and buy) much more than many retail categories give them credit for. From department to grocery, most plan their marketing in a way that all but ignores the male demographic.
Off my soap box and on to the Brandweek article.
July 1, 2009
The past two decades has seen a role reversal of sorts taking place: the traditional roles of men and women are being redefined to better reflect today’s social norms. Today’s American households are looking less like Donna Reed — the paradigm for the ideal 1950s family — and more like Mr. Mom.
Shifting norms
Since 1985 there has been a dramatic shift in the composition of male principal shoppers in the U.S. Several factors are contributing to this trend. First, the traditional family unit has multiple variations today. From two working parents to single-parent homes, a younger generation is being exposed to new norms. Second, Americans are waiting longer to get married. According to the U.S. Census Bureau, in 2008, the median age at first marriage was 27.4 for men and 25.6 for women vs. 25.9 for men and 23.6 for women in 1988. Lastly, Americans are living longer and as baby boomers retire, the men of that generation are shopping more than their fathers or grandfathers ever did.
Today, almost one-third of men are now the principal shoppers in the household. With more men in store aisles, marketers need to better understand how to reach this growing segment of shoppers.
Studies of recessions dating to the 1920’s prove that marketing aggressively in a down economy can increase market share substantially more than during good times.
A top best practice in tough times is fiercely protecting your loyal customers, making Customer Retention Marketing more important today than ever. Put your customers at the heart of your business, and you build a competitive advantage that continues to grow after the economy recovers. Unfortunately, many marketers limit themselves to an outdated, simplistic, and less effective CRM approach. It’s time to usher in a 21st Century CRM that utilizes the most powerful strategies and tools available, and achieves great success in a weak marketplace.
Out with the Old CRM Approach!
Too often CRM programs consist only of outbound e-mail or direct mail. As more consumers become engaged with alternative communication channels, and less with e-mail, now is the time to upgrade CRM. For example, young people seldom use e-mail unless they have to, instead relying on social media (e.g., Facebook), text messaging or IM. (“You sent me an e-mail? I never check my e-mail,” say my teenage and college-age daughters.)
Keep the CRM mainstays — e-mail and direct mail — that have worked well, but augment your efforts by exploiting digital and social marketing opportunities, like digital tools (IM, widgets, etc.), mobile, and social media. The new CRM mix has many concurrent elements, such as social communities needing an e-mail blast to update members, or some e-mail requiring a social media approach that engages more personally.
Welcome to 21st Century CRM!
Here are 7 ways to seize the tremendous opportunity of 21st century CRM: Read more
From a recent edition of Radio Sales Today (RAB).
Economic Climate Drives Changes in Auto Ownership, Purchase Plans
Today’s uncertain economy significantly impacts consumer vehicle buying decisions, according to the latest market study issued by R. L. Polk & Co. In the study, Polk gathered consumer sentiment on the economy, and also about three key topics, including purchase horizon for next vehicles; new vs. used purchase plans; and an assessment of respondents’ willingness to consider a domestic vehicle purchase.
Overall, nearly half of those surveyed indicated they believe the U.S. economy will worsen in the next year, while just 31 percent are optimistic and think the economic situation will improve.
“A state of optimism for the economy was also reflected in the study,” said Lonnie Miller, director of industry analysis for Polk and co-author of the study. “Nearly one- third of respondents plan to purchase a vehicle within twelve months.” This suggests there is pent-up demand for vehicles as some consumers have been putting off their next vehicle purchase for some time now, according to Polk. The drop in sales from 16.1 million units in 2007 to 13.2 million units in 2008 supports that assessment.
Economic concerns drive longer vehicle ownership
Vehicle retention trends tracked by Polk indicate consumers are choosing to keep their vehicle longer than in the past. Stemming from a separate registration-based analysis, Read more
A recent study released by the Yankee Group found that the line between watching television programs on TV versus on the internet is more blurry than once thought.
While most of the attention, in marketing circles, is on the demise of newspapers, there should be concern for television advertisers as well. Here are some stats from the study:
* 56% of television viewers are online at the same time, browsing the Web or sending e-mail.
* 82% of Internet video viewers watch TV shows online because they missed the episode on TV.
* Digital video recorder (DVR) owners are more likely to watch online than they are to record a program in advance.
* 25% of the Internet video audience watches online programming on-demand either once or several times per day.
(Source: Yankee Group, 2009)
It’s become common for those of us who work in radio to see other mediums “piling on” and perpetuating the myth that radio is in trouble. So it was very refreshing to see some “good pub” for a change. Enjoy.
From MediaPost.com…
You heard it here first: Radio is the wave of the future.
Caroline Krediet, Feb 18, 2009
I’m in the minority on this one. All the buzz in advertising is over Facebook, Twitter and social media. Yet radio technology is burgeoning. The appointment audio of the podcast is catching on, and satellite radio, HD radio and streaming mobile radio are all gaining interest and audience. So, too, is Internet radio: according to research firm American Media Services, 38% of adults surveyed six months ago said they expected to listen to radio on the Internet at some point in the future; more recently, the figure was 48%.
Listening to President Obama’s inauguration speech again on YouTube recently got me thinking about stirring orations. Because I’m a Brit, naturally Winston Churchill’s 1940 “Fight them on the Beaches” speech to the House of Commons came to mind. Even today, when I listen to it via a scratchy YouTube recording, I am struck by radio’s power as a storytelling medium. I can’t help but wonder: In our visual age, have we lost the art of audio communication?
I’ve long been a believer in radio.
After nine years in this business (and 20-odd as an avid radio listener), some of my favorite effective brand communication has come over the airwaves. Read more
From today’s Radio Business Report… A recent study suggests that businesses advertising on the radio need to be more competitive with their message in order to get the most out of their ad dollars. Infosurv, Inc. recently completed gathering data for the first research study to evaluate consumer recall of phone numbers vs. web site addresses in radio ads, and their online behaviors once on an advertiser’s website.
Results suggest that in radio ad, consumers have a 33 - 86% higher recall rate of vanity phone numbers than they do of an advertiser’s URL. And, an overall 45% higher recall of the memorable phone numbers than URLs in various traditional advertising formats, including radio, outdoor, and print. Key findings include:
* Advertisers Will Benefit by Providing Both a URL and a Vanity 800 Number in Ads. Based on recall rates and consumers proclivity to first research an advertiser’s competition, it is essential for companies to include a memorable phone number in addition to their URL in advertising campaigns for optimal lead generation. Read more
Forbes recently ran a story talking about 10 “things” we as consumers are still buying despite the economic slowdown. I call it a “slowdown” because, contrary to the 11 o’clock news, it hasn’t stopped. In fact, the Forbes article mentions that over $343 billion (with a “b”) was spent by consumers in December ‘08 - that’s a little more than zero!. Anyway, here’s the list. And feel free to check out their online slide show for more info.
