Greetings!
Welcome to the July issue of Key Notes - Marketing Keys' monthly newsletter! We hope everyone had a safe and happy 4th of July! Key Notes is an informative, quick-read newsletter to get you caught up on all things media and marketing. Our goal is for you to be informed and entertained with the latest media and marketing happenings quickly and efficiently.
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How brands are reaching Gen Z |
Are you using the right strategies to reach Gen Z consumers? According to a study by Harris Interactive, 7 Key Consumer Expectations Impacting Social Media Success Today, Gen Z would rather engage with brands on social media than through traditional means like email.
Harris Interactive surveyed 1,064 U.S. consumers in November 2021 and here’s what they found:
Over 40% of shoppers now engage with brands on social media. They use social for asking questions prior to a purchase (68%), make a purchase (64%) and get post-purchase customer support (59%).
Gen Z would rather engage on social media compared to other methods like phone, email, or visiting a physical store.
When asked to pick a single item that drives brand perception, 29% cited 24/7 customer service availability and 28% quick response times.
Social shoppers value a speedy response. A 52% expect replies to questions within an hour. But 39% say they typically must wait for more than two hours.
Overall, social seems to be the channel of choice for just about everyone, including 30% of Gen Zers, 24% millennials and 20% of Gen X.
On the other hand, only 12% of Gen Z consumers prefer other means of engagement which include visits to a physical store.
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Have seniors pulled back on spending? |
With rising inflation resulting in higher prices on food and gas, seniors on a fixed income need to be careful about staying within their budget. This is especially true with retired seniors. With a fixed cash distribution each month, it is painfully apparent to seniors that they are spending more and getting less for it due to inflationary effects.
Although these effects are most visible in the grocery aisle, seniors also spend in luxury retail, specialty sporting goods, upscale travel or entertainment services, per Acxiom retail activity data. Seniors are also shopping online now more than ever, with 79% making a purchase on Amazon in the last 3 months, according to Resonate.
Seniors and retired consumers may feel like much of the current economic state is out of their control. This means pulling back on spending to maintain the annual budget they’ve set for themselves despite getting less for their budget. For marketers, this means giving seniors more of a feeling of control over their financial health.
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Is there growth with ad revenue? |
Even with the impending recession, GroupM predicts that the ad industry will continue to see growth this year.
The WPP agency released its global mid-year forecast and anticipates an 8.4% increase in global advertising revenue, excluding U.S. political advertising, in 2022. GroupM credits encouraging factors including low unemployment levels, historically-low interest rates in the recent past, and the continuation of the industry’s unprecedented growth since 2021. New businesses flourished during the pandemic, which led to high levels of advertising intensity.
According to GroupM, digital ad revenue of digital platforms is expected to grow 12% in 2022, an expected slowdown in growth from its 32% surge in 2021. Within the digital ad sector, retail media and e-commerce are projected to grow more quickly.
TV ad revenue is slated to grow by 4.3% globally in 2022, with CTV expected to grow 24% to hit $21 billion by the end of this year.
The out-of-home ad market is expected to grow 12% in 2022 but is still not expected to hit its pre-pandemic levels until 2024, indicating that the space is still in recovery mode.
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Have you joined the audio revolution? |
Is there an audio revolution taking place right now?
Radio, podcasts, and streaming are undergoing a renaissance, as more and more people are consuming audio. Radio has always been an effective medium. However, digital innovation has made audio’s reputation and effectiveness skyrocket.
According to Audacy’s latest State of Audio guide, the rise of cross-platform listening stands out as the biggest opportunity in 2022 for advertisers. “AudioX” listeners are platform agnostics who follow their favorite content creators, transitioning smoothly from over-the-air radio to podcasts to audio streaming throughout the day. They’re 52% more likely to have a college degree and two-thirds more likely to have a household income over $100,000 when compared with digital content only consumers. AudioX listeners have a greater propensity to recall brand messages and have a significant increase in purchase intent.
The audio revolution is just beginning. The demand for radio and digital combos have risen by 20% since 2019. Plus, multichannel audio campaigns work harder for marketers, who see a lower cost to convert with multichannel campaigns—38% lower than signal-channel audio buys.
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A media legend has retired. After 42 years of reporting on Chicago media, Robert Feder is stepping away from the spotlight. Feder might be leaving some of the best years at the Daily Herald behind but will still be accessible on Twitter and Facebook.
While being involved in Chicago media for over 3 decades in one form or another, I saw first hand the impact that Robert Feder had. He was so connected that many times we heard the news first from Feder's column before our station managers had an opportunity to tell us in a meeting. My first job in Chicago radio was at the former WFYR Radio in Chicago. The year was 1991. It was there that Feder broke the story with a headline that read 'The Blaze put out the Fire.' WFYR - or Chicago's Fire ' was being replaced by a heavy metal rock format called 'The Blaze.' It was the first time in Chicago radio history that 37 out of 42 full time employees were left packing and put out on the streets. Feder broke that story - albeit a shocking one - to us on Good Friday.
Incredibly, Feder had such excellent sources that he would re-print confidential station memos in his column. There were many of those re-printed when I had worked at WLS Radio from 1995-2007.
Following the media business began as a childhood dream for Feder. As he puts it, it 'became the honor of a lifetime'.
Enjoy retirement Rob! You will truly be missed. We will be left to get our 'scoops' from the local ice cream parlor.
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Here is a recent highlight from Marketing Keys' blog page. Please start following our blogs and let us know what you think.
Get the latest insight here!
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Get help from 'The Mouse'! |
In my previous life, I worked for many media companies including the one headed by the Mouse. During my 20 year executive run with media companies, I had noticed that if an advertiser wasn't properly represented with a media expert helping them with their media planning and buying, then that company was at a disadvantage. Thus, I created a company to provide a solution to that problem.
Marketing Keys was formed in July 2007 to more than level the negotiation playing field between advertisers and media companies. We enabled advertisers to have a major leg up in the process.
We targeted Presidents, CEOs, Regional Managers, Marketing Directors, CMOs, etc. of small and mid-sized businesses. We then went to market with our 'key' differentiator and mission. During the last decade, the company has grown from 2 clients in 2010 to presently close to 20.
To find out if we can help build on the results that you had started and eliminate the inherent disadvantages of buying media on your own, please reach out to us HERE!
Thank you for your loyalty in reading our newsletters. If you know someone where this information may be helpful, we appreciate you sharing it. In the meantime, we will continue to keep you at the forefront of the latest marketing strategies and news.
Until next month,
ROGER KEYS
MARKETING KEYS
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Get ready to stroll, sip, and savor at Lincoln Park Zoo’s annual Summer Wine Fest!
This 21+ event will feature more than 50 different varieties of wine from 20 wineries, all of which you’ll enjoy while strolling alongside the zoo’s lush gardens and animal habitats representing almost 200 species.
Tickets are limited, so grab yours today to enjoy an evening filled with delicious wine and live music at Lincoln Park Zoo.
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Chicago’s most popular used-book sale is back! Browse through thousands of books in dozens of genres, including fiction, philosophy, history, art, cooking, children’s literature, and much, much more. With many items priced at $3 or less, you can stock up on new reads and expand your own personal library on the cheap. Admission is free! |
You may have seen this billboard driving around Chicagoland!
Brightmont Academy is dedicated to delivering education through personalized 1-1 instruction. Their flexible approach is tailored to fit the child's individual needs & schedule. Learn more!
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Are you Socially Challenged? |
During my 15 years as a business owner, I have discovered there are many companies out there that are challenged with the task of managing their social media.
It may be that they are confused over the platforms that they should use, the content they should post, how to boost that content and/or the time or lack thereof that goes into managing their social media platforms.
As a Social Media partner of ours, our Social Media expert will manage and strategize daily on your sites. We will also coordinate all communication so there are no surprises while all of your initiatives are scheduled accordingly.
For more information, please contact Marketing Keys at (312) 375-5007 or you can email us HERE!
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Fill up your lead funnel! |
In the days of Mad Men, creativity was everything. The goal was for a brand to be the most creative creating a tag line to resonate with the audience. Now, creativity takes a back seat to targeting through data and reaching your target synergistically through multiple mediums with an integrated marketing campaign.
Find out how Marketing Keys can help generate (on average) an incremental 30-35% more in leads and/or conversions through our system.
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