COMMENTARY

Why Brands Need To Do More When Marketing To Hispanics

• by Isabel Rafferty , 7 hours ago

In 2014, Google labeled the U.S. Hispanic market as marketers’ “Next Big Opportunity.”

Fast-forward seven years, and not much has changed. Brands are still struggling to figure out a winning strategy for reaching Hispanic audiences, despite the fact that a report by Claritas found that total annual spending by Hispanics in 2020 was, at $978 billion, higher than that of any other minority group.

There are over 60 million Hispanics currently living in the United States, according to Pew Research Center, making up 18% of the total population. Yet it would be a mistake to treat them as a homogenous group. Just as no experienced marketer would consider the entire non-Hispanic white population a single audience to advertise to, so too should the nuances of Hispanics be recognized.

Sadly, I’ve seen too many brands take the easy route and partner with companies like Telemundo and Univision. While they certainly play an important role in the Hispanic media ecosystem, far too many marketers see these partnerships as the extent of their Hispanic outreach, instead of as a springboard toward a better understanding of their target audience. Moreover, brands that take this approach are also missing an opportunity to partner with minority-led and operated businesses that have real connections and insight into the nuances of the Hispanic population.

Amid the Black Lives Matter Movement and growing calls for more diversity and inclusion, advertisers have finally seen multicultural advertising for what it is: a necessity that allows them to reach diverse audiences in ways that go beyond the superficial.

But in order to do multicultural advertising right, brands have to think about the entire process -- starting with the companies that will be producing those ads, through to the media channels that they choose to run those campaigns on. Unfortunately, many brands who say they’re supporting Latinos and other minority communities end up spending money with companies who look the same as they do -- that is to say, companies that lack the types of diverse voices needed to successfully appeal to multicultural audiences.

It’s time for brands to put their money where their mouth is, and support communities of color in truly meaningful ways. A good first step would be to look for officially accredited Hispanic-led and owned agencies to assist with campaign planning and strategy. Not only must these companies go through an extensive auditing process before they can be certified, they also provide a level of audience insight that others are unable to provide. For instance, they can advise brands on which cultural cues appeal most to Hispanic audiences, and how those cues differ depending on geographic location, age, and the level of acculturation.

Only 6% of U.S. ad spend is directed towards Hispanics -- a shocking statistic considering the demographic’s purchasing power. While many have taken (much-needed) steps to changing this statistic, the reality is that it’s past time for Hispanics to be taken seriously as an economic and cultural force. An ad on Telemundo just isn’t enough anymore.

 

COMMENTARY

Gen Y, Z Lead The Way With EVs

• by Tanya Gazdik , Staff Writer, Yesterday

It has to be music to the ears of General Motors, Tesla, Rivian and other electric-savvy automakers.

One in four Gen Y and Z auto intenders say electric vehicle technology is a “must-have” in their next car, per just-released research that GfK AutoMobility is sharing first with DriveTime. 

Desire for EVs has grown 150% in just two years among  these key buyer groups. Interest in EVs among Gens Y and Z is 11 percentage points higher than among intenders as a whole (15%). 

Basically, if Gen Y and Z represent the future of auto buying, then electric EVs are positioned for exponential growth in the years to come.

General Motors is on its way to an all-electric future, with a commitment to 30 new global electric vehicles by 2025. 

The GfK AutoTech Insights study also confirms that luxury car intenders are now driving interest in all-electric cars. 

One in three (34%) lux intenders say they are interested in an all-electric vehicle – up from 24% in 2018. By contrast, the non-lux interest level is just 13%, after dropping 2 percentage points (from 15%) in the past two years.   

Even if you are extremely green-friendly, there are practical considerations to be considered, like the ever-present “range anxiety.” How do I get from point A to point B if it exceeds my battery life? 

That’s why fast-charging stations are a key draw for potential EV buyers. Six in ten (59%) intenders who are “mostly interested” in an EV -- and two-thirds (68%) who are “somewhat interested” -- say that the availability of free fast-charging stations would raise their interest levels.

Free installation of fast-charging stations at buyers’ homes is another big draw, appealing to 54% of those who are “mostly interested” in an EV and 62% who are “somewhat interested.” 

GM’s Chevrolet division acknowledges this, and recently announced plans to cover standard installation of Level 2 charging capability for eligible customers who purchase or lease a 2022 Bolt EUV or Bolt EV.

GfK also found that attractive styling and third-row seating were the only features selected significantly more often by the “mostly interested” intenders versus the “somewhat interested” ones.

“There is no question that EVs are powering auto innovation right now,” says Tom Neri, commercial director for marketing and consumer intelligence at GfK North America. “The question is, can they expand beyond the upper echelons of car buyers and gain true mainstream acceptance? Strong interest among younger intenders is definitely a positive sign – but we will have to see if that translates to sales and loyalty in the years to come.”

In some respects, the pandemic-inspired lack of a commute (which could become permanent as more and more businesses reduce their costly office space) could work in an EV’s favor.  

If the majority of trips is around the neighborhood, going to the grocery store, picking up the kids from soccer practice, etc., then an EV makes perfect sense. 

The practicality of road trips in a pure EV remains a concern since it adds an extra element of planning for stops to recharge should the day’s driving exceed the battery range.

If the availability of charging stations continues to expand and if technology continues to lessen the amount of time necessary for recharging, EV ownership should become more and more attractive to more people. Time will tell. 

 

COMMENTARY

Brand Loyalty Here To Stay -- But Now It's 'Emotional Engagement'

• by Robert Passikoff , Op-Ed Contributor, Yesterday

A recent spate of articles have declared that brand loyalty is in jeopardy, or even -- as suggested recently in a commentary in this publication -- “on its way out.” The reality is, brand loyalty not only exists, but is a measurable, leading indicator of consumer behavior and brand profitability, and is not going away anytime soon.

The thing is, today’s brand loyalty is different from the brand loyalty of the last century. It has adapted to new consumers in a new marketplace.

If it helps, I invite you to think about brand loyalty as a consumer’s emotional engagement with a brand. In fact, I urge you to. Because emotional brand engagement is the 21st century paradigm for loyalty.

Real assessments of loyalty measure the emotional engagement between the consumer and brand versus the consumer’s perception of their category ideal, best defined as the degree to which a brand is able to meet the expectations consumers hold for their category Ideal. Brands that can do that always see what might reasonably be called “loyalty.” In fact, 25 years of research and independent validity studies have demonstrated a brand that best meets your expectations is the one that you’re six times more likely to buy -- and buy again.

Those engagement levels can identify differences between loyal customers and casual customers. The ability for a brand to meet your expectations identifies a point on a continuum, between brand obsession and indifference. Emotional brand engagement levels vary from category-to-category but are always predictive of consumer behavior. Yes, it’s a more complex measure to take, but today’s consumers, and today’s brand loyalty are more complex too.

A lot of commentators have based their opinions on a McKinsey survey that noted shortages during the pandemic resulted in people buying whatever was available, with a third of respondents trying new brands.

Does that surprise you? You couldn’t get Charmin, so you bought another toilet paper! Does that dumbfound you? Nah, me either. Researchers really ought to note the distinction between need and allegiance before leaping to the QED, brand loyalty is on its way out.

A tiny segment of respondents indicated the new brands would have standing in future purchase decisions. Well, OK. Except as far back as 1990, researchers knew “purchase intent” was notoriously overstated in survey responses. What the survey did confirm was the efficacy of mid-1980 satisfaction and total-quality movements, which made primacy-of-product the rule rather than the exception.

So, there was pretty much no downside to buying  a “new” brand of toilet paper when Charmin wasn’t available, until it was, and consumers went back to buying it and not the “new brand.” So much for standing in the purchase decision.

And yeah, you might try another brand because something’s new. Novelty has its place, but it almost never unseats a brand that best meets your expectations. Unless it meets expectations better than your current brand. That’s called “good marketing.”

And buying a brand regularly? That’s called “loyalty.”

 

COMMENTARY

NFL Scores Dominating Rights Deal. Can Advertisers Stage A Comeback?

• by Wayne Friedman , Staff Writer, Yesterday

NFL headlines have been breathtaking: A collective $100 billion-plus TV right deal, at mostly a 100% (or more) annual cost hike for TV networks.

If you are a regular NFL advertiser watching this, what is your reaction and worries? Figure marketers may already be readjusting long-term linear TV plans.

On the flip side, figure the ever-higher NFL expense for TV networks -- and no doubt sports in general -- may need to think outside the box, luring regular nonsports advertisers to consider dabbling in the big game. All must consider what to do about the acceleration of decreasing viewership on live, linear TV.

TV networks will need to find ways to raise advertising pricing around the big NFL programming in the next decade.

MoffettNathanson Research estimates ESPN will see a 42% annual rise, to $2.7 billion a year, while NBC, Fox and CBS, will spike from 105% to 110% -- $2.0 billion, $2.25 billion and $2.1 billion, respectively.

ESPN gets a bit of a break, considering it paid much more for its contract the last time around ($1.9 billion) than NBC, Fox, or CBS did with their deals -- $960 million, $1.1 billion and, $1 billion, respectively.

It isn’t just ad revenues that will need to do more than just tow the line. Networks will need to find ways to boost affiliate fees (in the case of ESPN) and broadcast retransmissions fees (for NBC, CBS, and Fox).

The wild card -- and potential major upside -- is what really happens with respective streaming services: ESPN+ (for Walt Disney); Peacock (for NBC Universal); Tubi (for Fox); and Paramount+ (for ViacomCBS).

Not only do they get to simultaneously air games alongside their sister legacy linear TV networks, but they also get a few exclusive games. Then add in the biggest news -- Amazon’s exclusive regular season airings of “Thursday Night Football” for the length of the deal.

It will be interesting to see what happens to the NFL football viewing audience on those particular weekends. And perhaps more importantly, how advertisers will react.

 

Yes DC There is an Internet

March 17, 2021

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The Federal Communications Commission has proposed rules to improve the way the public receives emergency alerts on their phones, TV’s and radios. The Commission also adopted a Notice of Inquiry to explore the technical feasibility of delivering EAS alerts via the Internet.

Yu may recall back in 2018 when a false emergency alert in Hawaii mistakenly warned of an incoming ballistic missile. That was a wake-up call to The FCC that the system needed improving.

The National Defense Authorization Act for Fiscal Year 2021 subsequently charged the Commission with adopting rules to strengthen emergency alerting in various areas.

On Wednesday, the Commission adopted a Notice Proposed Rulemaking to ensure that more people receive relevant emergency alerts, enable government agencies to report false alerts when they occur, and improve the way states plan for emergency alerts.

Specifically, the Commission proposed to:
· Combine the current “Presidential Alerts” category, which is non-optional on devices that receive Wireless Emergency Alerts, with alerts from the FEMA Administrator. The new non-optional alert class would be called “National Alerts.”

· Encourage all states to form State Emergency Communications Committees, which help administer alerting on the state level, or to review the composition and governance of existing committees, as well as require these committees to certify that they held a meeting in the past year.

· Provide a checklist of information that should be included in annual submissions of state Emergency Alert System plans and amend the process for Commission review of those plans.
· Specify that government agencies may report false emergency alerts to the FCC’s 24/7 Operations Center.

· Require and ensure that Emergency Alert System participants can repeat certain alerts over television and radio when the government alert originator requests it.

How well do you maintain long-term professional relationships with those in your network?

 

SMARTPULSE

How well do you maintain long-term professional relationships with those in your network? Extremely well: I put a lot of effort into staying connected with people  6.52% Very well: I work hard to stay connected with a focused group of people  16.05% Well: I stay connected to the most important people in my network  26.75% Not well: I could improve how connected I stay with people  27.44% Not at all well: I only stay connected to a small handful of people  15.11% Poorly: I put minimal effort into maintaining my network  8.13% Connecting takes effort. Looks like a pretty normal distribution of responses in terms of how well respondents stay connected with each other. Staying connected takes effort. Knowing a lot of people aren't good at it means you have to put in extra effort to make up for their lack of initiative in that space. It's easy to say, "Well, they don't try to stay connected to me, so why should I put in the effort?" You can take that approach but you'll find your network dwindling quickly. Put in the effort. Be generous in sharing ideas and helpful information. Be a resource. The more people who see your value, the more you become a person they want to put effort into staying connected with. And you never know where your next big opportunity is going to come from. -- Mike Figliuolo is managing director of thoughtLEADERS, which includes TITAN -- the firm's e-learning platform. Previously, he worked at McKinsey & Co., Capital One and Scotts Miracle-Gro. He is a West Point graduate and author of three leadership books: "One Piece of Paper," "Lead Inside the Box" and "The Elegant Pitch."

 

Study: Consumers Seek Brands That Reflect Their Values

• by Ray Schultz , March 15, 2021

Here’s a challenge for email copywriters: How do you weave in claims that your brand is socially conscious?

That task is critical, given that 69% of consumers prefer to buy from brands that support socially conscious causes, according to a new study by Channel Factory, an ad0performance platform for YouTube. 

Of the consumers polled, 53% of whom are women, 68% prefer to buy from brands that are committed to making online environments positive. And 60% prefer firms want to see diversity and inclusion.  

But here’s the task for content creators working in email or any other channel: 54% of consumers would react negatively to ads or content expressing social values with which they disagree.

Meanwhile, 73% of consumers say they are more likely to buy from brands whose ads are relevant to the content they are viewing on YouTube. 

That raises another question: how brands would know a person’s YouTube habits and potentially use that information in other channels — like email. Would Google migrate that data into Gmail?

Even if confined to YouTube and based on anonymized data, which is likely, this could raise an issue concerning a key consumer value: privacy. 

That said, marketing and consumer expectations have changed during the COVID-19 pandemic. 

“For years, we have tiptoed around the need for advertising to be held more accountable -- to be ethical, conscious, and conscientious,” says Tony Chen, founder and CEO of Channel Factory. 

Chen adds: “Undoubtedly, 2020 has accelerated this and consumers have made it clear that they want to be surrounded by content that speaks to them, is relevant and engaging. 

Channel Factory surveyed U.S. 1,000 consumers. 

The following is a good update for media marketing teams to share with their agencies. Philip Jay LeNoble, Ph.D.  

Hudson MX Unveils Cloud-Based Media Accounting Platform, Says It Will Transform The Ad World

• by Joe Mandese  @mp_joemandese, 6 hours ago

In a move that has implications far beyond Madison Avenue’s green eyeshade crowd, media-buying data processor Hudson MX is introducing a new cloud-based media accounting platform that could shake up many of the ways the advertising world has traditionally accounted for its media buys.

The new platform -- aptly named FinanceAssist -- offers a clean slate for advertisers and agencies to customize and innovate how they do bookkeeping for their media buys, enabling them to break free of legacy systems -- principally Hudson MX rival MediaOcean’s -- which are built on static mainframe computer systems that have stifled innovation in the ways Madison Avenue manages data and financial records associated with its media buys.

While that may not sound like the sexiest innovation for an industry being rapidly transformed by changes in the media -- and media formats -- it buys and sells, it is precisely because of those changes that Founder JT Batson formed Hudson MX in the first place, and he says the new cloud-based accounting platform is crucial to giving advertisers and agencies the flexibility they need to adapt and innovate for the future.

“The media industry has fully migrated to the cloud, and yet advertising is still stuck in legacy mainframe systems that were programmed in the era of COBOL,” Batson explains, referring to a business programming language originally created in 1959 he claims still underpins much of MediaOcean’s systems.

Aside from being creaking and inflexible, Batson says the archaic media accounting systems have kept data “locked in silos,” preventing it from being shared with other parts of agency organizations, such as HR, or even directly with clients.

By moving media accounting to the cloud and enabling how it is processed to be programmed flexibility based on individual organization and client needs, Batson says it will enable advertisers and agencies to create new ways of utilizing -- and thinking about -- their data, including potentially creating new proprietary customized ways of estimating media-buying guarantees, auditing media buys, and even providing shareholder compliance data to investors.

To help agencies and clients make better use of these opportunities, Hudson MX has aligned with ad industry management consultant MediaLink, which is owned by one of Hudson MX’s chief investors, Ascential PLC.

MediaLink recently launched a new consulting practice, HudsonBridge, focusing explicitly on enabling clients to leverage Hudson MX’s software and systems in new, better and more customized ways, and hired former Dentsu U.S. media COO Lucas Cridland as Managing Director to oversee it.

Batson says the integration with MediaLink makes strategic sense, but he emphasizes that Hudson MX remains a neutral software developer and it hopes to work with other management consultants advising advertisers and agencies, too.

One of Hudson MX’s original investors, Ascential recently doubled down along with the startup’s original funders as part of a new $63.5 million round to fund its growth.

“The Hudson MX platform responds to more than 30 years of process and technical debt that hampered progress and transformation in the media ecosystem,” Irwin Gotlieb, former global chairman and CEO of WPP’s GroupM and an independent investor in Hudson MX, said in a statement announcing the new FinanceAssist platform. “The industry has long needed a viable alternative to the legacy systems that it has had to rely on, with enormous consequence to progress.”

 

COMMENTARY

Traditional TV Ad Market Is Slowly Coming Back -- Will The Upfront Follow?

• by Wayne Friedman , Staff Writer, March 12, 2021

Just in time for the new upfront period, TV media agency executives tout the marketplace is returning to some stability. Emphasis on the word "some."

Good news comes as movie studios and travel marketers, two heavily affected pandemic categories, are slowly spending more, according to one media agency executive -- at least in the second-quarter scatter market. The second quarter continues to be a highly watched period of how the upfront market might land.

The downside is a concern that automotive and retail spending may not deliver. Still -- considering the disruption, which hit the previous upfront market, there are hints of normal activity returning.

Now, factor in all the hype around premium video platform advertising.

Media agency executives are fairly sure TV networks will do everything possible to fuel and strongly encourage all ad-supported digital video efforts -- including Peacock, Paramount+, discovery+, AMC+ and the coming ad option for HBO Max. This also includes big broad-based platforms distributing TV networks and content: Disney’s Hulu + Live TV, ViacomCBS’ Pluto TV and Fox’s Tubi.

Some wrinkles here aren’t going away: The lack of real industry-wide cross-platform measurement standards and fraud.

Although the in-person live sports audience has yet to return to full strength, virtually all sports programming is back on the air, including the return of the NCAA Men’s College Basketball “March Madness” Tournament -- an event that was cancelled in 2020.

CBS and Turner networks, which air the tournament, say that this year things are almost back to normal. The event is “virtually sold out.” More importantly, CPMs are up and total advertising revenue looks to hit record levels.

For non-sports TV marketers, however, there probably is a big question mark regarding the direction of the entertainment programming front -- especially given the troubling makegood issue of the last several months.

In addition, long-term entertainment linear TV viewership continues to suffer -- as more viewers move to ad-supported video platforms, including premium video streaming platforms.

The industry has worried about linear TV erosion for decades. And we keep asking the question: Will there ever be a breaking point?  Marc Pritchard, CMO of Procter & Gamble, says it has arrived -- vis-a-vis the upfront TV ad-market transformation, starting last year.

Again, we have heard this before. Yet, considering the year everyone in the U.S. has had, where many believe all kinds of consumer and business behavior may be changing forever, one might suggest a TV advertising breaking point -- in part, or in whole -- may have also arrived.

Breaking bad?

 

How to Avoid Wasting Time on the Wrong Target Market

By

 Kendra Lee

 -

March 15, 2021

The wrong target market is not limited to a sales problem. The damage starts with your lead generation system, then spreads to your entire business.

Idioms about salespeople like “she could sell sawdust to a sawmill” have a fundamental flaw. Exceptional salespeople don’t waste their time on prospects who aren’t in their target market. Contrary to what some sales leaders think, you can’t sell to everyone. When you focus on the wrong opportunities, your cost of sales increases and your close ratio decreases. You sabotage the chances you’ll become a stellar salesperson.

The wrong market to target is not limited to a sales problem. The damage starts with your lead generation system, then spreads to your entire business.

Your Target Market Is Like the Foundation of a House

A bad foundation affects the entire house. Cracks appear in your drywall. You walk around on uneven floors. Windows and doors shift out of place. A similar outbreak of issues occurs when you select the wrong target market. People on your list never open the emails you send. No one attends your webinars. Salespeople can’t get appointments. When you do get engagement, they aren’t true leads. They’re people who are too polite to say “no.”

How to Determine if You’re Targeting the Wrong Market

Sales reps who don’t get responses and a lead generation system that doesn’t produce results are two symptoms of having the wrong target market. Unfortunately, they could also be caused by other issues like having the right market but addressing the wrong issue. Test if you have the right target market using the 5 questions I ask in this short video.

• Is your messaging specific to this target market and the contact role?
• Is your message about them, or is it about you?
• How many attempts are you making?
• Are you using a campaign approach to reach contacts?
• How many customers do you already have in your target market?

The video also shares how to use your answers, and next steps.

3 Steps to Choose the Right Target Market

1. Define your ideal client. Whenever I ask someone in a consultation or lead generation training to describe who they’d ideally work with, I’m told about clients who are:

• Satisfied
• Profitable
• Fun-to-work with

I agree, those are the best to work with. But those aren’t qualities you can use to build a list. Go beyond the surface level. Think about:

• Why are they satisfied? What problems have you solved for them?
• How do you balance providing the right level of services without putting in too much work so they become unprofitable?
• Why are they fun to work with? Is it personality-driven or does it stem from the value they place on your company and its services?

Keep these answers in the back of your mind as you move to the next step.

2. Analyze the rest of your clients. Even after digging deeper, you won’t have everything you need to develop a list. For that, you’ll need to evaluate the rest of your clients and look for what they have in common. You can sort them by:

• Business maturity
• Industry
• Location
• Key contact
• Size

Use the answers from step 1 to see where there’s overlap between most of your clients and your ideal. As you go through the exercise, remember this is the foundation building stage. To keep cracks out of your lead-generation strategy, be selective.

3. Don’t impose artificial limits. Your target market focuses your attention on the right sales and marketing opportunities. It isn’t meant to enforce arbitrary restrictions. You’d rather not focus on a single industry? Choose cross-industry instead. Want multiple target markets? Go for it.

What You Can’t Sacrifice Are Your Solutions

However you define your target market, be sure your solutions fully support their businesses and solve real problems your prospects are experiencing.

Play the Long Game with Aspirational Markets

There will be businesses you want to target but have never sold to. This lack of experience lengthens the sales cycle. It’s going to take you more time to grab their attention. Avoid pouring too much time or resources into these organizations at first. Wait until you have a healthy sales funnel and are getting results from your current target market.

What to do When You Need to Shift Markets

External factors can force you to change your business plans. Upheaval caused by the pandemic in 2020 led many businesses to switch target markets. If you find yourself in this position, here are three places you can look to identify a different target market.

1. Past clients – Go over everyone you’ve worked with in the past three years. Look at size and industry. What’s the state of business for these companies? Are they experiencing the same issues as your current market or are they largely unaffected?
2. People interacting with your marketing campaigns – Your current marketing lists could have hidden opportunities too. When you send emails, what have people been clicking on? Which contacts consistently open your emails? Is there a secondary market hiding in the data you’ve overlooked because you’ve been prioritizing other solutions and organizations?
3. New markets – When business is going well you don’t want to abruptly pivot to new markets because it can drain your sales and marketing budget. But there’s less risk when your current market isn’t producing and you need to fill your pipeline. Think about your solutions and problems you solve. Are there businesses beyond who you traditionally work with that you could successfully serve? To get your foot in the door, look for shared connections and ask for referrals.

Next Up: Engage Your Target Market

Once you’ve defined the right target market, you need a plan to reach out and engage people. Join my webinar, Lead Generation Strategies that Work Right Now, on April 7 at 2 p.m. Eastern. You’ll discover the most effective activities you can use to attract leads, increase visibility, and create the opportunities you need. Learn more and register here: https://www.smmconnect.com/events/2576?gref=calendar

Kendra Lee is a top IT Seller, Prospect Attraction Expert, author of the award winning books “The Sales Magnet” and “Selling Against the Goal” and president of KLA Group. Specializing in the IT industry, KLA Group works with companies to break in and exceed revenue objectives in the small and midmarket business (SMB) segment.

 Here's something to share with your local-direct clients via email followed up by a text, email or phone call. Philip Jay LeNoble, Ph.D.

COMMENTARY

Brand Loyalty Is On Its Way Out. Now What?

• by Allison McMenimen Bakken , March 12, 2021

It’s well documented that consumers have shifted buying behaviors in order to balance convenience and availability against perceived value. The shift to digital was one way to safely fulfill these needs, opening up a sea of possibilities with new brands, categories, and choices.

For many, this has grown into a habit with staying power — the comfortability of abandoning a well-loved brand for something else that works just as well. This newfound mentality means that brand loyalty is in jeopardy.

But it’s not all bad. Consumers have broadened their thinking and willingness to try new things, leading to brand discovery. The playing field has been leveled for those smaller and newer. Consumers have more options online, and there’s a willingness — even a longing — to branch out. What’s even more exciting — or nerve-wracking, depending on your position — is that a majority of consumers who branch out plan to buy the new brand again, according to McKinsey research.  

But what if your brand is the one losing customers? Or you’re a newcomer that finally has a chance to compete? If loyalty can’t be counted on, how should efforts be prioritized?

To reap the benefits of brand discovery, marketers have to be proactive:

Speak directly to your consumer. Understand where your key audiences are and get in front of them. Many consumers are spending more time on social media and digital marketplaces. Advertising here is a great way to reach them, even as these channels become more competitive.

Create and optimize content based on consumer needs and interests. See an increase in search volume and sales related to your product? Capitalize on the opportunity by creating content that aligns and optimize accordingly. Determine the gaps in competition where you could succeed. Layer search data on top of your own to understand opportunities and prioritize channel, audience and asset types.

Give consumers a reason to choose your brand.  Invest in partnerships with like-minded influencers. Seeing a product in action via reliable sources is important to gain the trust of new consumers who can’t experience it firsthand before buying. Nineteen percent of Gen Z-ers have discovered new products through influencer endorsements, according to GWI. With spending power of $143 billion (per a Barkley report), that’s huge!

The research and consideration phase has been elongated. Provide comparison content that highlights your company’s differentiators to make it easy for those shopping around.

Be omnipresent and make it easy to convert. Digital visibility is more important than in-store shelf space, but in-store experiences shouldn’t be neglected. Make sure all shopping avenues are up to par. Information needs to be accurate and consistent across digital properties. 

Test, test, test. Testing cannot be overvalued. From audiences to tactics to messaging, plan ahead to understand what drives the best performance.

While worthy of attention, losing brand loyalty isn’t a curse. You may have to work harder and in new ways, or bring in experts to better understand today’s consumer, but there’s opportunity here. Is it scary? Yes. But will losing brand loyalty define your success? Only if you let it.

 

Most Consumers Buying Groceries Online, Will Continue After The Pandemic, Study Finds

• by Ray Schultz , Yesterday

A stunning 75% of consumers are now buying groceries online, and 76% say they will do so after the pandemic, according to The AI Opportunity For Grocery E-commerce, a study from Clutch, a personalization platform. 

This points to the need for a effective email platform that can send notifications and confirmations while cross-selling and upselling. 

Whatever grocery marketers do, they must provide “superior online experiences that are especially seamless across mobile devices,” the study notes. 

The reason for this is that 60% shop by mobile, while 33% shop by desktop and laptop and 7% shop by voice assistant. 

On another front, consumers also demand free delivery. And 65% would buy if they were offered post purchase-based incentives. 

Moreover, 35.38% seek new and different products. 

In addition, 31% would welcome product coupons and discounts and 29% would like same-day delivery and curbside pickup.

There is an opportunity, for 80% are buying more groceries online than they did prior to the pandemic.

 

The Radio Rebound Continues

March 17, 2021

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This time it was Townsquare’s turn to report that, with every passing quarter, radio has its sights set on returning to the days of old – 2019. In Q4 Townsquare’s revenue decline of 3% was significantly better than the 35% decline in Q2 and 15% decline in Q3.

CEO Bill Wilson says Q4 exceeded the company’s expectations and expects to see even stronger results in 2021.

Once again digital was strong for Townsquare with Townsquare Interactive net subscription revenue increasing 16.3% to $18.8 million. 850 net subscribers were added to that division, which creates a local digital strategy for small businesses both in and outside Townsquare’s radio markets.

For the year revenue decreased 13.9% for the company, 17.0% excluding political revenue. Digital revenue increased 6.2% to represent 43.6% of total net revenue for the company. Townsquare Interactive net subscription revenue in 2021 increased 14.4% to $70.4 million

Wilson told investors and analysts on Tuesday that the Townsquare team performed the best when it mattered the most. “Our DNA is local radio, it’s not audio, it is truly is local companionship – providing local information, local entertainment, and local personalities – and that is why we love it and that is why we call it local radio. But although our DNA and roots are in Local Radio, and we still love and embrace Local Radio, in 2020 we became a Digital First company, and our revenue growth in digital revenue and digital profits during a pandemic and resulting recession demonstrated that fact.”

Q1 2021 revenue is expected to be down in the low singles digits. Wilson said he sees great momentum each month and each quarter with the goal being to return revenue to 2019 levels.