More than 48 percent of U.S. adults believe that a lack of advertising by a retail store, bank or auto dealership during a recession indicates that the business is likely struggling, according to a study from Ad-ology Research. At the same time, a large majority of consumers think businesses that continue to advertise are competitive and/or committed to doing business. Read more
Consumers are increasingly demanding that the brands they interact with are environmentally and socially responsible. According to Havas Media, globally, 79% would prefer to buy products from environmentally responsible companies. This burgeoning movement of conscious consumers isn’t found only in wealthy Western economies; consumers in emerging markets such as Brazil, China and India are even more engaged than their peers in Europe and the U.S. Read more
The world is changing. The current economic crisis is causing people around the globe to reevaluate their priorities. Several themes are taking shape, and brands that can most quickly embrace them will be the ones best poised to prosper, even during hard times.
As mentioned in a couple of recent Fusion Blogs, on-line radio listening has exploded in the past few years. Specifically it has more than doubled in the last 5 growing to 42 million lsitening weekly and 69 million listening monthly. All this according to the annual Infinite Dial study conducted by Arbitron and Edison Media Research.
Thanks to this study we know more than just HOW MANY people are streaming radio - we also know a little bit about them. For example…
- The male/female split is 52% and 48%
- 61% of them are in the coveted 25-54 demo
- They are 60% more likely to have annual household incomes above $100,000
- Also, they’re 28% more likely to have at least a College degree
While this growth is phenomenal it is clearly just the beginning. For Part 3 we’ll cover some of the trends in online VIDEO.
Yesterday Arbitron and Edison Media Research released their 17th annual study entitled The Infinite Dial. The purpose of the study is to show how changing media habits and new technology impact radio listeners. Over the next few days the Fusion Blog will cover some tidbits of info from the full study. We’ll start with Internet Access:
- In the ten year span from 1999 to 2009, the percentage of 12+ Americans who have access to the internet has grown from 50% to 85%.
- While that’s clearly dramatic growth, perhaps a more interesting fact had to do with at-home internet access. Just 7 years ago, 78% of people who accessed the internet at home were using a dial-up connection. Today that number is just 15% with 82% now using a broadband connection.
-No wonder online audio and video use has grown so much. Speaking of which, we’ll cover online radio listening in The Infinite Dial Part 2 coming soon.
The latest in a series of annual studies (entitled The Infinite Dial) conducted by Arbitron and Edison Media Research shows that 17% of Americans 12+ listened to online radio in the past week. This is equal to an estimated 42 million people. The size of the weekly online radio audience has more than doubled since 2005!
Watch this blog for more info when the study is officially released on April 16th. Expect details on:
· The ongoing growth in iPods and MP3 players
· Social networking sites and their impact on consumers
· The growth in usage of online video
· The latest on satellite radio and HD Radio awareness
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
Online video has transformed the communications landscape for business marketers. No inbound or outbound marketing effort can be considered complete without incorporating online video to drive branding, awareness, customer acquisition and loyalty.
Online video is one of the most powerful sales tools because of its ability to capture and engage audiences. Overall, online video campaigns perform better than text-only or standard graphic with text marketing. With its rich storytelling capabilities, online video can be applied across a variety of advertising, viral marketing, and corporate communications, bringing your marketing initiatives to life.
Source for blog: Brightcove March 2009 whitepaper
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
During the upcoming conference for the California Tourism industry, the digtial divisions of Entercom Sacramento and Entercom San Francisco will be recognized for their part in a very sophisticated digital campaign. The marketing elements for this digital only program utilized some of the latest technology and created a high-impact and successful campaign for Sonoma. You can see (and hear) some of the elements and get the background at http://sonoma.innovativeradio.com/
