September 17, 2009

Now is the time to Gain Market Share or Lose Market Share.

Filed under: market share, marketing strategy, recession — admin @ 10:22 am

If you’ve been holding off marketing your business in order to save money through the recession, you’d better change your strategy now, or face losing market share. It’s not a secret anymore. Any savvy business person knows that maintaining an aggressive marketing strategy through a recession strengthens sales and increases market share. And, they typically get that extra market share from their competitors who are not as aggressive.

A problem with this recession is that it was so bad even owners and managers who knew the right thing to do were hard pressed to execute it due to lack of cash flow. In some ways, that leveled the playing field a little. But, we are now entering an interesting time of great opportunity for any business owner who is able to step up ahead of his or her competition.

Consumer Confidence is most important to retailers.
Consumer confidence is a significant factor in the recovery, but is particularly significant to retailers. Consumer spending represents about 70% of the US economy, which has a direct effect on retailers.

The Consumer Confidence Conference Board  has been surveying houseolds since 1967. A score of 90 represents a healthy economy. 100 equals strong growth. The recession low score was 25 in February, 2009. In August it measured 54.1, up from 47.4 in July. And, it is the highest it’s been since December of 2007.

Consumer confidence is increasing.
The latest survey strongly indicates that consumer pessimism is lifting. The job market, while still weak, is stabilizing. People aren’t as afraid about losing thjeir jobs. And, as a result, they are more confident about spending.  The evidence lies not just in this report, but in what we’ve seen with our retail advertising accounts. Business is picking up. It’s slow, sometimes in fits and starts. But, it is picking up.

With consumer spending beginning to shake loose, now is the time to craft the most agressive marketing strategy your budget will allow. Lean into it with all your might. It’s not too late to push yourself further toward the front of the line while your competitors are still waiting to see what’s going to happen.



September 6, 2009

Truth is the Most Powerful Advertising Tool

Filed under: advertising, creative, marketing tools — admin @ 12:34 pm

Truth is the most powerful marketing tool in your bag. I don’t mean truth in advertising, as in not making false claims and being ethical in your communication practices. That’s an obvious given to anyone with an ounce of common sense.

I’m talking about being transparently honest with your audience with regard to who you are and how you relate to your public. Companies are so obsessed with putting a positive spin on information, whether its about the company itself or its products, that the public has become numb to it. You, I and everyone else out there can spot a whitewashed PR statement or an exaggerated product claim in an instant. But, too many corporate executives and business owners continue to believe they are somehow camouflaged from their lack of authenticity.

One of the best examples of a radio commercial that embraced truth was for a telephone company some thirty years ago. It had a reputation for providing poor service. So they made a number of internal adjustments to improve their service and then ran a radio campaign to promote themselves. The commercial began with the predictable statement about how good their service was. But, then, the announcer was interrupted with gales of laughter. By poking fun at themselves they immediately identified with the listeners beliefs, which laid the groundwork for presenting their message. The campaign was a huge success.

There are other examples of unexpected truths being used to provide powerful advertising messages, such as:

  • Orville Redenbacher:  The world’s most expensive popping corn
  • Avis:   We’re number two, so we try harder
  • Listerine: The taste you hate twice a day

There is something about being flat-out honest about something that not only catches people’s attention, but leaps out at them from the crowd. It’s not what we, as consumers, are used to. And, that’s only one of the benefits.

When you say something that might be considered potentially uncomplimentary, you create credibility. If you’re willing to say something negative about your product, then you are obviously truthful, so can be trusted when you say positive things.

I’m not suggesting that companies should go out and start advertising negative things about themselves. But, you should not hide behind canned language that contradicts commonly held perceptions. It actually hurts you more than it helps.

The truth is powerful. The funniest jokes are the ones that are based in truth, the most memorable quotes are the ones that strike our deepest sense of truth, and the most powerful advertisements are the ones that are truthful.

And, that’s the truth.



September 5, 2009

How to Write an Advertising Headline

Filed under: "How to", advertising, creative, mistakes — admin @ 2:16 pm

When you write a headline for your ad, make sure it’s so clear that someone who has never heard of you or your product will understand it. Follow this rule and your ads will perform better every time.

One of the most common mistakes made by advertisers is coming up with some clever headline that leaves the reader clueless as to what is being advertised. With business owners and copywriters alike, there is this nagging need, born of some unwritten expectation, to create something clever and glib when writing a headline. Sometimes it works, but unless you’re an experienced copywriter who understands the difference between clever and clear communication, just state your message. Sure, it might be boring. But at least the readers will know what you’re about and you’ll have a chance to engage them if your product solves a problem they have.

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