Using Media To Increase Your Bottom Line Presentation


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Overview presentation about today's media and the best places to invest advertising dollars.

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Using Media To Increase Your Bottom Line Presentation

  1. 1. Using Media to Increase your Bottom Line<br />By <br />Edward Clay<br /><br />
  2. 2. Common Myths or Fears about Media<br />Myth #1 <br />It’s too expensive. <br />Tell that to your competitor who took a chance and is now killing you by taking your customers.<br />
  3. 3. Common Myths or Fears about Media<br />Myth #2<br /> Somebody is going to rip me off <br />and take my money. <br />(This could happen. We’ll learn how to avoid that today.)<br />
  4. 4. Common Myths or Fears about Media<br />Myth #3<br />I don’t know how to do it. <br />You hire a tradesman to do the craft they understand. You hire an electrician to fix the electric. With advertising and media, businesses usually try to do it alone then wonder why it doesn’t work. <br />Hire a media buyer, it’s a worthwhile investment.<br />
  5. 5. Common Myths or Fears about Media<br />Myth #4<br />It doesn’t work. <br />Really? Tell that to Coke and Pepsi. Tell that to Facebook… It doesn’t work if you do it halfway. <br />(Think: “Expensive” fear)<br />
  6. 6. Common Myths or Fears about Media<br />Myth #5<br />I really don’t need a website. <br />How many times have you used the Internet to find a source for a product? <br />How many times yesterday alone? <br />Your business needs a website. <br />Fact: Most of all research today is done on the Internet.<br />
  7. 7. Where is your money going?<br />
  8. 8. Who is your Target Demographic?<br />
  10. 10. Print-Who Reads What?<br />Pulse Magazine<br />
  11. 11. What % of your audience is reading your print ad?<br />How often do you read the paper or a magazine online?<br />Do you read magazines?<br />Do you realize how articles are inserted?<br />Who is reading your articles?<br />Who is seeing your ads?<br />
  12. 12. Radio<br />
  13. 13. Who is hearing your radio spot?Better yet, who is listening to your spot?<br />How many people in this room own an MP3 Player?<br />What makes a radio ad memorable?<br />Why advertise on radio?<br />What drives a person to your store ?<br />
  14. 14. Television So many channels… So many opportunities!<br />
  15. 15. Who is watching your ad?<br />Are children watching your ad?<br />Are people disinterested in your product watching?<br />Are busy moms doing after school work even interested?<br />Why would a person watch the ad?<br />Nielson – Still the standard after all these years<br />
  16. 16. Who is watching your ad?<br />Nielson –<br />They actually tell you who is watching your ad.<br />
  17. 17. Digital Dollars<br />
  18. 18. Are you investing in the Web?<br />1) Do you have a web page?<br />Is it a good webpage? Or is it on the worlds worst web sites page?<br />2) Do you have a face book page?<br />Do you have any friends?<br />Do you have any fans?<br />3) Do you advertise online?<br />Do you even know how to advertise online?<br />4) Do you use twitter?<br />If you ask the question what’s twitter.. Skip this one.<br />5) Do you realize how many people use the web?<br />There are more then the 20 in this room. Oh how did you register for this class<br />6) Do you realize how much money your loosing?<br />The amount is exponential. Your customers want to talk about you… <br />Good or Bad!<br />
  19. 19. Some quick stats *Alexa<br />
  20. 20. Some quick stats *Alexa<br />
  21. 21. Social Media Video<br /><br />Or Google Social Media Revolution<br />
  22. 22. Top 25 Social Media SitesYes, there are 25!<br />
  23. 23. Top 25 Social Media Sites<br />
  24. 24. Trends are near real time *Alexa<br />
  25. 25. Trends are near real time *Alexa<br />
  26. 26. Trends are near real time *Alexa<br />
  27. 27. Trends are near real time *Alexa<br />
  28. 28. Trends are near real time *Alexa<br />
  29. 29. Trends are near real time *Alexa<br />
  30. 30. Social Media Video<br /><br />Google-- Social Media ROI <br />
  31. 31. Social Media Video<br /><br />Google– Googlezon Epic 2015<br />
  32. 32. What year was this produced?<br />November 2004 by Robin Sloan and Matt Thompson with original music by Aaron McLeran.<br />
  33. 33. Consider this scenario…..<br />You're sitting at home watching television when a good friend calls you to discuss plans for the weekend. When you realize you've got nothing exciting planned, you recall a new Italian restaurant advertised on television and in the newspaper a few days prior. <br />
  34. 34. Consider this scenario…<br />However, you can't recall the exact phone number or address mentioned within the ads. You call information for the phone number and then call the restaurant immediately; realizing Italian food is looking better and better with each number you press.<br />
  35. 35. Consider this scenario…<br />After a few minutes of talking to the restaurant's supervisor, you obtain the name of the restaurant, hours, address, and menu. But, this isn't enough. Although the television, newspaper ads and conversation with the supervisor were positive, you're curious about the quality of the company,<br />
  36. 36. Consider this scenario…<br />"Do I really want to drive across town for this?" You decide to research the company via the Internet and find several other Italian restaurants in your search. When you locate your restaurant's website, you see that it's been open for 15 years, and has received positive reviews from local restaurant critiques and customers.<br />
  37. 37. Consider this scenario…<br />You even notice it’s a part of the local chamber of commerce and maintains a high cleanliness rating with city inspectors. You also see a place where you can download the restaurant's dining menu, purchase gift certificates online as well as view the restaurant's special sauces and salad dressings.<br />
  38. 38. Consider this scenario…<br />With the additional information and discount coupons provided by the website, you decide to make the 30-minute drive and check out the restaurant.<br />
  39. 39. Consider this scenario<br />This is the typical purchasing process of today's consumer. It is important to realize that two key factors influence consumers to respond to marketing advertisements; quality of service and incentives. Marketing methods that are capable of dispensing both are usually capable of gaining the sale.<br /><br />
  40. 40. Statistics<br />Advertising / Sales Ratios and norms<br />A look at the top 100 U. S. advertisers and their A/S ratios is pretty revealing. The largest advertiser, G. M. runs with a 2.9% A/S ratio or put another way, the ad budget is nearly 3% of the company's sales. The number 100 advertiser is Mazda and they run at 5.4%. The average of all 100 advertisers is 3.6%Looking more closely, Wal-Mart spends the least amount on advertising, relative to sales, 0.3% and American Housing Corp spends the most, 51%. Among the top 100 brands, 41 spend less than 5% on their A/S ratios, 27 spend 5-10%, 14 spend 10-15%, 10 spend over 15%, while 8 are not measured. So to those consumers who complain about the price of the products they buy being so high due to advertising, there is really not too much to the argument. <br /><br />
  41. 41. Direct Marketing / Infomercials<br />As much as 30-75% is spent on marketing<br />Web stats are different<br />The numbers don’t apply like traditional marketing<br />Example: Site gets 100,000 impressions, but only 100 hits<br />All media has statistics<br />Bottom Line is in the Results<br />Are more people calling?<br />Thoughts about statistics<br />
  42. 42. Non-Traditional<br />Billboards <br />Not likely in Collier County<br />Local collateral<br />Coffee Cups<br />Placemats<br />Postcards / Handout<br />In Your Face Bathroom Ads<br />Captive audience, but does the ad work?<br />Event Sponsorship<br />The Bottom Line is <br />1) Does it make people remember who you are<br />2) Do you care about what your name is on<br />
  43. 43. Common Questions<br />How can I use this information for my business?<br />1) Do you have a marketing budget?<br />2) Do you have a marketing plan?<br />3) Are you ready to get over the fear of the unknown?<br />4) Do you have a clue of what we are talking about?<br />Once you have these in place…<br />
  44. 44. Common Questions<br />Action Steps<br />Plan on adding one and only one specific element to your marketing plan<br />Add something Print, Radio, TV or Digital<br />This is an investment like a piece of equipment<br />Use a consultant; they get paid from a commission that’s built into the price you pay. <br />Ask questions.<br />Do it now.<br />
  45. 45. Common Questions<br />Action Steps<br />Get your website reviewed and make sure your business is represented in the best light.<br />Get an objective review from a professional<br />Again, this is an investment like your sign/business cards<br />Get a new site if need be, and hire a professional. Nephews in high school do not count.<br />Do not have a blog unless you plan to devote 1-2 HOURS per week<br />Ask questions as to why things are being done<br />Trust who you hire. Don’t second guess everything, hence hiring a professional<br />
  46. 46. Common Questions<br />Action Steps<br />Schedule a meeting with SCORE Naples to meet with the marketing consolers to go over your current marketing plan.<br />Ask Questions<br />
  47. 47. Your Questions<br />What are your questions?<br />Can I help you?<br />
  48. 48. Conclusion<br /> Stop doing nothing and wondering why things stay the same.<br /> You cannot afford to not market and advertise, it’s ok to take a chance. Just use common financial sense and spend in relation to what you can afford. <br />
  49. 49. Conclusion<br /> Plan, Prepare, Attack and the Review<br /> If you budget $2,500 for the month of March to spend on cable across two networks and you see no additional revenue, don’t look at it as a loss of $2,500, but rather as market research done to discover that your audience is not on those channels.<br />
  50. 50. Conclusion<br /> Plan, Prepare, Attack and the Review<br /> Be HONEST, if all you have is $50 to spend, you probably will not be advertising on the CBS Evening news.<br /> Many times the game of cat and mouse is played in the advertising industry. Everyone is lying and trying to get the best deal. <br /> I have personally found that truth is so rare that it warrants special treatment. The same goes for being nice. If you want “bonus” and “extras” they are easy to get. Be truthful and nice.<br />
  51. 51. Conclusion<br />Lastly…<br />Expect immediate results from some campaigns . Others will take a little more time.<br />Social media is relationship based<br /> Slower to see initial results<br /> Patience is required<br /> Fast once your following is established<br />
  52. 52. Using Media to Increase your Bottom Line<br />By <br />Edward Clay<br /><br />