Greetings!
Welcome to the October issue of Key Notes - Marketing Keys' monthly newsletter! We finally broke down and turned on the heat at Marketing Keys. How about you? We hope you are enjoying the beautiful Fall season! 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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Treading water or riding the waves?
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Sometimes, I feel like we are all surrounded by deep, blue waters. At certain times of the year, the water is calm. At other times, the waters can be rough. Does this relate to decisions you need to make regarding your marketing campaign? Have you thought about making any tweaks to your marketing programs? In times of economic uncertainty, everyone reacts by cutting back, including brands. However, it’s crucial that even during tough times, brands continue to put money into their marketing efforts. Here are a few strategies that brands can use to continue growing their business while being mindful of their spending.
1. Spend smarter
Instead of cutting marketing spending completely, marketers should prioritize their spending and invest in solutions that will reach their intended audience without waste. Cross-platform addressable solutions across linear and streaming are a great way. Marketers should also focus on awareness and consideration to measure success rather than sales outcomes, especially for larger ticket purchases.
2. Expand your reach
With competitors cutting back, there’s an opportunity for brands to expand outside their normal target market. For example in June 2022, 1 in 4 consumers made a purchase from a brand or retailer they wouldn't normally buy from. If needed, consumers will give up loyalty for availability. Be available.
3. Personalization
Brands should focus on delivering relevant and personalized messages to their target audiences. Research shows this matters: 89% of people respond positively when ads present something relevant. Marketers can ensure this kind of relevancy through audience-based buying. This precise relevancy in messaging is extremely important during times when brands need to attract new customers and keep loyalists coming back.
4. Connect
Consumers have a lot to worry about right now. Instead of pulling at their purse strings, brands should go pull at their heartstrings. Brands can create strong emotional connections with viewers by being authentic, empathetic and transparent and by avoiding any marketing that reads as thoughtless.
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"I'm on Season 5, Episode 3!"
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Netflix is known for its binge model which has become a common consumer behavior in the age of digital video. I know I am guilty of this. But their famous setup isn’t as appealing to advertisers.
Binge-watching is unpredictable, happens all at once, and then it's done. While, episodic releases of shows create predictability, stretch out the audience availability and typically help the networks/publishers grow the audience over time.
Binge viewership is both a blessing and a curse. It is very similar to event viewership where you can reach a huge audience with fresh content. However, when the binging is done, there is no one left behind. The binge model gives you a very limited window to reach consumers. Now that Netflix is adding ads, advertisers fear how sustainable this might be. Netflix might be forced to recondition audiences to slower rollouts of series. This will keep subscribers across pay periods. Ultimately, binge viewership is just another consumer behavior to plan for when delivering campaigns.
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'Leggo' of my Connected TV!
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Packaged goods brands are taking over connected TV devices. Last year, Connected TV accounted for 52% of consumer packaged goods' video impressions, more than any other sector. The growing role of e-commerce and availability of shoppable formats and the use of QR codes in CTV ads have driven much of the shift.
Consumer Packaged Goods' shift to Connected TV has been faster than other segments but varies by category within CPG. Pet supply brands led all advertisers, moving 70% of their online video impressions to CTV. This was followed by beauty and household cleaning, both at 62% and food at 61%.
Historically, Consumer Packaged Goods was seen as the last one to join in on the media trends but now appears to be leading this one.
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Are you focusing on sonic branding?
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Sonic branding is all the rage lately. But what is the difference between sonic and audio branding? Audio branding is the umbrella that includes all of the sounds your company make. On the other hand, sonic branding is a single, simple jingle, voice, or logo that represents your brand.
As podcast advertising continues to gain more and more traction, it’s time for the industry to rethink the sonic branding experience. The concept of what sonic branding can accomplish will evolve as more time is invested in podcasting, both by brands and listeners.
Sonic branding might feel like a completely new frontier. Start with a test-and-learn approach. As always, clearly establish KPIs upfront. However, focus on the ones we know audio cues are particularly good at influencing: recall, brand connection and purchase intent. All of marketing is testing and discovery. Audio advertising is no different.
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Watching football without a beer?
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Amazon’s first exclusive “Thursday Night Football” looked like any other game. However if you looked closely, one thing was missing: beer commercials.
On a website with its advertising guidelines, Amazon says it prohibits ads that promote wine, beer, and spirits in the U.S., and a few other countries.
“Ad content must not encourage, glamorize or depict excessive consumption of alcohol,” it says.
The thought of an NFL game without beer seems crazy. Beer and the NFL have a long and deep relationship. Budweiser’s Clydesdales are famous for their Super Bowl ads. Beer and football go hand in hand.
Breweries are still advertising on other NFL broadcasters. Beer brands have spent $60 million on TV commercials in the last two weeks, and 70% of that spending went to NFL programming, according to the measurement firm iSpot.tv. The top-spending brands were Corona, Michelob, Bud Light, Coors Light, and Modelo.
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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'!
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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 (we just celebrated 15 years of being in business!) 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 target Presidents, CEOs, Regional Managers, Marketing Directors, CMOs, etc. of small and mid-sized businesses. We then go 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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We'd like to welcome Lloyd Miller Law Group to the Marketing Keys family! This top injury law firm has a win rate that is three times higher than the average law firm. Marketing Keys will be helping Lloyd Miller with both their offline and online media strategies. Schedule your free consultation today!
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We'd like to welcome FP Alpha as the newest member of the Marketing Keys family! FP Alpha is the first AI-driven wealth management tool that enables financial advisors to deliver the personalized, comprehensive planning experience today’s clients are looking for. Marketing Keys will be helping FP Alpha with both their social media management and newsletter writing. Learn more here!
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As a parent, one of the most important decisions you will make is where you will educate your child(ren). One really great option is North Shore Country Day. Interested in learning more about North Shore Country Day? Join their Open House on October 16th. You'll have an opportunity to tour campus, meet community members, and learn about NSCD's distinctive programs. Register today!
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Are you Socially Challenged?
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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!
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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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