Thursday, April 18, 2024

Our PC is being updated and will be back in service April 25th

 Hi All: As System 21 subscribers we sometimes need an update in our systems so that we may continue to bring you the latest updates in media marketing and advertising in broadcast marketing. 

We hope you have enjoyed our bringing you an aggregate of breaking news from a number of the best broadcast marketing publications. 

As you know, there is no cost or obligation to read the information we gather.

We provide it as an extra no-charge service to all System 21 licensees.

We'll be back April 25th.

Enjoy your holiday and spring weekend.

We hope Peace!

Philip Jay LeNoble, M.B.A., Ph.D. CA

drphilipjay@gmail.com


5 Simple Gestures That Can Make an Initial Client Meeting Unforgettable

 




5 Simple Gestures That Can Make an Initial Client Meeting Unforgettable

From minding body language to bringing a well-chosen gift

It’s difficult to overstate the importance of a first impression when meeting potential clients. A positive one can make you more memorable, making sales down the road more likely. A negative experience can counteract even the strongest arguments you provide in your company’s favor.

As Maya Angelou famously pointed out, people will forget what you said and did, but not how you made them feel. Consequently, little gestures that change your conversation’s tone substantially impact your sales pitch’s efficacy. Here are five simple but effective steps to follow for an unforgettable first client meeting.

1. Mind Your Body Language

Your body language is one of the most critical factors to consider. While the oft-cited idea that 90% of communication is nonverbal is a misinterpretation of popular research, body language still makes a considerable impression.

Your body language should convey confidence and a welcoming attitude. Avoid gestures like crossing your arms, holding your hands in front of you, slouching and fidgeting. These postures can make you seem closed off or unsure of yourself, which are not characteristics your client wants in a business partner.

Instead, sit up straight, maintain appropriate eye contact without staring, smile and use hand gestures when speaking. These motions will make your message easier to remember while showing your client that you’re happy to work with them and take their time seriously.

2. Don’t Dominate the Conversation

Along the same lines of confidence and friendliness, remember to listen more than sell. It can be tempting to talk at length about your company and the benefits of your products or services when trying to secure a client. While communicating that value is important, dominating the conversation may make the other party feel undervalued and ignored.

Let your client guide much of the discussion by asking about their business and the pain points you can address. Practice active listening skills as they speak. Make eye contact for roughly three seconds at a time, nod and let them finish before responding.

Taking a relative backseat in the conversation does two important things. First, it puts the focus on your client and their unique position, helping them feel appreciated and like more than just another sale. Second, it lets you find ways to show how you can meet their specific needs, making a more relevant value statement.

3. Give Them a Personalized Gift

Another effective way to make clients feel valued is to surprise them with a gift. This doesn’t have to be anything extravagant but should be tailored to the specific person. Perform research beforehand to determine their interests and decide on something that appeals to their unique personality.

Personalized gifts prove you’re willing to learn about the client as a person. Consequently, it makes your meeting more memorable and showcases your care and attention to detail as a business partner.

Potential options include treating the client to a meal at their favorite restaurant, custom products from your company or tickets to a home game for their favorite team. Be careful to keep these gifts sensible. The client may feel uncomfortable if receiving a gift that’s too extravagant.

4. Be Transparent

While nonverbal communication and conversation-adjacent measures go a long way, addressing your pitch is also critical. When discussing your services, especially as they relate to the client’s specific needs, it’s important to be as transparent as possible.

Be upfront about costs, fees and timelines. Avoid the temptation to make broad statements about competitors that may not be factually accurate. While this may seem to counteract your sales argument, the transparency will likely be a welcome change of pace for your client.

Transparent cost information is the most important characteristic of a company website to 25% of B2B buyers, more than any other most-cited factor. Moreover, 94% refer to customer testimonials before buying, suggesting they don’t take companies’ statements at face value. Being open about relevant issues will address that gap and emphasize your honesty as a business.

5. Follow Up

Remember to follow up after meeting with your client. While this isn’t strictly part of your initial impression, it shows you remember the meeting and demonstrates commitment to their needs.

After roughly a week, reach out to the prospective client again. You can call, email, or send them a letter depending on their preference and the formality of your conversation, which can vary. Make this correspondence more memorable by referring to points or small talk in your initial meeting. It’s also best to refer to your client by name, as this makes people feel validated and shows you see them as a person, not a business.

In some cases, this follow-up presents an opportunity to dive back into the conversation and answer more questions they may have. In others, it may be enough to send a gift as a thank-you for their time. Either way, you show you appreciated the meeting and make another point of contact, increasing your memorability.

A Great Impression Is the Result of Little Details

Grand gestures or massive mistakes will certainly impact the memorability of your client meetings. More often than not, its success hinges on the culmination of subtler details. These five steps will help you get these smaller matters right to better your chances of a long-lasting business relationshi

Broadcasters, News Publishers, And Internet Ad Sellers Get Behind New Digital Privacy Rights.

 INSIDE RADIO

Broadcasters, News Publishers, And Internet Ad Sellers Get Behind New Digital Privacy Rights.

  •  Updated 
  •  
Congress 2022

The National Association of Broadcasters is throwing its support behind a digital privacy rights proposal, that if approved by Congress would let Americans opt out of targeted advertising. The NAB says it likes the idea that the American Privacy Rights Act would create a unified national privacy standard.

“This discussion draft is an important step towards much-needed legal clarity for America’s hometown broadcasters amidst a patchwork of state laws as we engage with our audiences online,” NAB President Curtis LeGeyt said.

Senator Maria Cantwell (D-WA) and Rep. Cathy McMorris Rodgers (R-WA), released a draft of their American Privacy Rights Act earlier this month. It is designed to give Americans more control over their personal data, including putting limits on a company that wants to transfer or sell their data. It would require companies to allow people to gain access to the data that tech companies have collected about them and to correct and delete what they find. The bill would also offer stricter protections for sensitive data by requiring affirmative express consent before sensitive data can be transferred to a third party. Individuals could also opt out of data processing if a company changes its privacy policy.

If passed, the American Privacy Rights Act would minimize the data that companies can collect, keep, and use about people, of any age, to what companies need to provide them products and services. It would also allow individuals to opt out of a company’s use of algorithms to make decisions about housing, employment, healthcare, credit opportunities, education, insurance, or access to places of public accommodation. And it would give individuals the right to sue bad actors who violate their privacy rights—and recover money for damages when they’ve been harmed.

Supporters say the effort is targeted toward big tech companies, carving out small businesses, who are not selling their customers’ personal information, to make them exempt from the requirements of the bill. They include a mandatory annual review of algorithms to ensure they do not put individuals at risk of harm or discrimination.

“As the power of the Big Tech companies often goes unchecked, we are grateful for Chairs Cantwell and McMorris Rodgers' ongoing commitment to providing a more sustainable digital ecosystem for local journalism,” LeGeyt said in a statement. “We look forward to working closely with the Chairs and all their Congressional colleagues as this important discussion continues.”

The News/Media Alliance has also come out in favor of the proposal. The group, which represents more than 2,200 publishers, also sees a benefit in having the certainty of a workable federal data protection framework, saying that would benefit news publishers and consumers alike. Alliance President Danielle Coffey says the discussions prompted by the release of the draft come at a critical time for technology policy.

“The draft proposes new approaches to long-standing issues,” Coffey said. “The discussion draft rightfully acknowledges the heightened, often troubling, impact that large technology companies can have in how they use consumers’ data and raises the importance of advertising in sustaining services that benefit consumers, including ad-supported news media content.”

It is not just media companies that are onboard with the changes. The Interactive Advertising Bureau, whose members include publishers, agencies, and ad tech firms, says they are counting on a national data privacy law to replace an increasingly complex patchwork of state laws, which have the effect of raising costs for companies of every size.

“This proposal provides exemptions for small businesses relying on data and digital advertising to compete in today’s economy, and it reflects a majority of state laws requiring opt-out mechanisms for consumers who may not want personalized ads or content,” said Lartease Tiffith, IAB’s Executive VP for Public Policy. However, Tiffith says it is also important that the bill fully preempt state laws to create a uniform national code.

“A private right of action could create a flood of lawsuits, so it’s important that the language be airtight,” Tiffith said. "Companies should have at least a year to comply before enforcement starts.”

How Storytelling Will Transform Your Brand's Marketing

 

COMMENTARY

How Storytelling Will Transform Your Brand's Marketing

In a world of increasing choices and declining attention spans, brands face an ongoing and often overwhelming challenge: how to capture and retain the interest of their shoppers. Enter storytelling -- a powerful tool that transcends average advertising to allow brands to create meaningful connections with consumers and build brand loyalty.

How Brand Storytelling Establishes Emotional Connections

At the heart of storytelling is the interconnection between stories, human emotions, and psychology. Stories have that unique ability to evoke feelings and memories within us, meaning we can use them to foster connections with our audience. Think of those tear-jerking commercials that tug on our heartstrings or the inspiring narratives that ignite our sense of adventure; advertising packed with emotion is what audiences remember over anything else.

The connection between stories and emotional connection is backed by science. Neuroscientific research has shown that storytelling activates regions of the brain associated with empathy, memory, and reward. When consumers engage with a compelling story, they don't just passively absorb information; they become active participants on a neurological level. This emotional resonance has the power to create a lasting bond between the storyteller (your brand) and the audience (your shoppers).

Building Brand Identity and Loyalty Through Storytelling

Consistency is the cornerstone of effective brand storytelling. A cohesive narrative, woven seamlessly across various touchpoints, shapes the identity and perception of a brand in the minds of shoppers. Think of Nike’s relentless pursuit of excellence or Dove’s devotion to natural beauty; the most successful brands stay true to their core storylines and values to earn the trust and loyalty of consumers.

A consistent brand narrative also encourages brand recognition and recall. By keeping a consistent story and repeating key themes and values, brands can create memorable associations in shoppers’ minds, ensuring they stay top-of-mind when consumers are making their purchasing decisions. When a shopper remembers your brand’s story and can tie that story to their own values, it becomes increasingly likely that shoppers will choose your product over others.

How Brand Storytelling Supports Differentiation in a Crowded Market

In today’s hypercompetitive shopper marketing landscape, differentiation is necessary for brands to both survive and thrive. Brand storytelling offers the opportunity to carve out a distinct, memorable identity in a sea of competitors.

By crafting narratives that resonate with the aspirations and beliefs of their target audience, brands can successfully break through the noise and secure that coveted space in consumer’s minds and carts. Effective brand storytelling shows customers your brand’s unique value, helping them connect to both your product and story—enough to choose you over the next brand.

Remember, the key to a standout brand narrative lies in authenticity. Be true to your brand’s mission, values, and personality while speaking to your target audience in a way that will resonate with them.

In the ever-evolving landscape of brand marketing, storytelling remains a timeless tool for engaging audiences and driving purchase decisions. So, embrace what makes your brand special and start storytelling -- then watch as you win shoppers’ hearts and dollars along the way!

Tuesday, April 16, 2024

One-in-Five Listeners Thinks They Hear AI On Air

 RADIO WORLD

One-in-Five Listeners Thinks They Hear AI On Air

Pair of media surveys from Futuri find general acceptance of AI tech among listeners

Futuri’s survey found a general willingness to accept AI-generated voices on air.

Around 21% of radio listeners think they’ve heard AI-generated content on the air. That’s just one of the findings in Futuri’s new “Audio Consumers’ Perception of AI” report.

The report is one of two new audience surveys released by Futuri in partnership with CMG Custom Research. The surveys explore the perceptions, expectations, and realities surrounding the use of AI in media today. Futuri offers AI-based tools for media companies and content creators.

The surveys found that audiences expect media companies will use AI — and many believe they are already hearing it on the air. They also believe AI an improve program content and are ready for AI-generated voice content, but they want to be informed when and how AI is being used.

In the audio consumer survey, 90% of respondents claimed a familiarity with AI, including 56% saying they had used AI tools. In general, those familiar with AI had a positive view of the technologies; however, non-users were more wary of AI. The familiarity with AI was similar for respondents to the news survey.

When thinking of the use of AI-generated voices, about a third (31%) said AI voices were more likely to make them listen; for a similar number of respondents, the use of AI voices have no effect on listening. However, 28% of respondents said it would make them less likely to listen. The willingness to hear AI-generated voices was greater for listeners to talk programming and podcasts than to who listen to music radio.

Respondents said they’d be more open to AI voices when there wasn’t currently an on-air personality, when a host was on vacation, or when the voice had not been heard before.

The study also tested listeners’ ability to detect the use of AI voices. About 60% of the time an AI voice was perceived as human or vice versa.

Nearly half of respondents for the news survey reported they thought they had heard AI-generated news stories read by human presenters on the air. 45% of respondents felt AI could help news outlets improve their story selection, and 54% thought it could improve weather forecasts.

Both surveys also noted that a large number of respondents listen to podcasts — 90% reported listening daily; 32% daily. Futuri identified repurposing on-air content as podcasts as a potential growth area for broadcasters.

The audio consumer survey was fielded in December 2023 and had 2,634 respondents. The news consumer survey was fielded in March 2024 and included 2,500 respondents.

March TV Viewing: YouTube And Netflix Post More Gains, Streaming Up 12%

 

March TV Viewing: YouTube And Netflix Post More Gains, Streaming Up 12%

YouTube, Netflix, and Hulu posted viewing gains in March versus February contributing to streaming's continuing virtual dominance -- up 12% in persons age 18 plus viewing year-over-year, according to Nielsen.

YouTube posted another gain (up 0.4 point from February) to a leading 9.7% best share of a platform TV-video.

Netflix was right behind with an 8.1% share, up 0.3 point -- helped by three original shows “Love is Blind”, “The Gentleman”, and “Avatar: The Last Airbender.”

Hulu added 0.2 of a point, now at 3.0% TV share.

As a comparison to streaming’s 12% year-over-year rise (to a 38.5% share), cable was down 10% (28.3% share) and broadcast lost 4% (22.5%).

Traditional TV viewing share (broadcast and cable) is now at a 50.8% share, down from a 54.3% share year ago.

For all TV streaming, overall usage declined 3% in March versus February -- a typical seasonal monthly trend.. In 2023 March sank 2%; in 2022, it was down 4.6%. 

Despite continuing, steady declines over recent periods, cable managed to post a 0.7 point gain in March versus February getting to its 28.3% share. 

Much of this was due to big gains due to the NCAA March Madness tournament -- featuring big results from its women’s college basketball competition, including those games featuring the top college basketball scorer of all time, Caitlin Clark of Iowa.

IAB Revenue Report Reveals Back-Half Expansion

 

IAB Revenue Report Reveals Back-Half Expansion

In what could be a leading indicator of a digital ad-spending expansion, the the second half of 2023 grew as more than twice the rate as the first half, according to just-released figures from the Interactive Advertising Bureau (IAB) and PwC's full-year 2023 Internet Advertising Revenue Report.

For the full year, digital ad spending expanded 7.3% over 2022 -- the lowest rate in recent years (see chart above) -- due to a relative market slowdown, especially among big digital advertising suppliers.

But the second half grew 10.8%, compared with only 3.5% for the first half. And the fourth quarter grew the most -- 12.3% vs. the fourth quarter of 2022.

“Despite inflation fears, interest rates at record highs, and continuing global unrest, the U.S. digital advertising industry continued its growth trajectory in 2023,” IAB CEO David Cohen said in a statement, adding: “With significant industry transformation unfolding right before our eyes, we believe that those channels with a portfolio of privacy by design solutions will continue to outpace the market. For 2023, the winners were retail media, CTV, and audio which saw the highest growth.”

Not surprisingly, retail media was among the fastest-growing sectors, rising 16.3% to $43.7 billion in 2023.

Video advertising revenue experienced double-digit (10.6%) growth, rising to $52.1 billion in 2023.

Significantly, the report notes that 42% of the video advertising revenue was generated by the burgeoning CTV (connected TV) and OTT (over-the-top/streaming) categories, an important bellwether heading into the 2024-35 upfront and newfront media-buying season.

Brakes Let You Drive Fast: Lawyers' Expanded Role in Advertising

 

COMMENTARY

Brakes Let You Drive Fast: Lawyers' Expanded Role in Advertising

The following was previously published in an earlier edition of Marketing Insider.

“Let the lawyers sort out the details.”

It’s an oft-heard quip when parties close a deal. And in the ad world, it captures a longstanding truth about the lawyer’s role. Advertisers and agencies don’t expect attorneys to draft creative or spearhead a marketing strategy. Lawyers instead handle the backend, ensuring that clients’ marketing dreams get executed without undue legal risk.

But the industry’s recent repositioning around data, and now AI, has pushed the industry into an ever-growing web of legal restrictions. So laws and lawyers have now become critical to both the day-to-day operations and big-picture strategy of agencies and advertisers.

Lawyers’ Traditional Role

“Advertising law” describes the various federal and state laws and regulations governing how goods and services are advertised. The Federal Trade Commission Act, for instance, requires that advertising be truthful and not misleading. Other state and federal laws likewise restrict how advertisers market their products.

Ads inevitably involve other legal issues too, including copyright, trademark, and related rights. And advertisers in highly regulated spaces — healthcare organizations and banks, for instance — face other restrictions.

Still, the ad business has historically kept its lawyers to narrow roles and responsibilities.

A Changing Landscape

Not so anymore.

The past decade has seen the law nose its way into the ad world. Perhaps the biggest driver is the industry’s embrace of digital and data-based advertising, which has led advertisers and agencies into a tangle of privacy laws, including the GDPR and CCPA. Increasing a company’s online presence has also meant more website accessibility claims. And social media marketing has placed countless advertisers in the sights of the FTC.

Now comes AI. While some AI laws already sit on the books, more are coming. President Biden’s October 2023 Executive Order, for instance, charges several federal agencies with proposing AI-related regulations and guidance. And companies in the EU are buckling up for the AI Act, a comprehensive law on AI.

As a result, laws and regulations are no longer mere “details” to iron out later. Instead, if advertisers or agencies want to draw value from new technologies, they need to understand — at the outset — the complex and evolving legal framework around them.

Why Brakes Mean Speed

Lawyers’ growing role may seem like just more bureaucracy. But that’s the wrong way to see it.

In 1942, economist Joseph Schumpeter observed that “[m]otorcars are traveling faster than they otherwise would because they are provided with brakes.” If that seems like a paradox, it isn’t. Drivers hit the gas only when they know that brakes are nearby.

It’s no different in marketing. If advertisers and agencies want to keep pace with developing technologies and commercial practices, they need mechanisms to do so safely. And that means addressing legal considerations upfront. Not surprisingly, lawyers sit in organizations’ C-Suites now more than ever, responsible for not just mitigating risks but also furthering business strategy.

Like it or not, today’s advertising industry operates in a regulated space. And in that world, lawyers are enablers — not enemies — of velocity

Monday, April 15, 2024

Gen Z Joins The Trades

 

Gen Z Joins the Trades

For the last eight decades, society told teens that a college degree was their ticket to middle-class prosperity. Today, with college costing more than ever, yet yielding fewer financial rewards, increasing numbers of young adults are instead picking up a hammer or wrench, and joining the skilled trades.

A recent Wall Street Journal article documents this phenomenon and discovers several causes. The first is skyrocketing tuition costs and student debt, with incoming Vanderbilt students set to pay nearly six figures a year to attend. The second is the fact that roughly half of college grads end up with jobs that don’t require a college degree. The third is the increasing concern that white-collar professions might be decimated by AI. And the fourth is the entrepreneurial orientation of Gen Z: Why join a big company, play by their rules and risk a layoff when you can learn a skilled trade, and then hang out your own shingle?

As a result, while enrollment in community colleges and four-year institutions shows just a slight increase year-over-year, enrollment in vocational-focused community colleges is up almost 20%. New construction hires earned $48,089 on average in 2023, up 5.1% year-over-year, while the starting salary in professional services averaged just $39,520, up only 2.7% year-over-year. Last year, the number of electricians, plumbers, carpenters, and HVAC specialists grew vs. a decade ago, while the median ages of all those professions decreased, as boomers and Gen-Xers retired from those trades and Gen Z started taking their place.

And these skilled tradespeople are spending less to earn more. While college students graduate with six-figure debt loads, their counterparts can attend trade school for four figures a year, and graduate after two years. Better yet, many find apprenticeships where they get paid to learn on the job, and their employer pays for schooling. As a result, they can graduate debt-free; live in a low-cost city (after all, every town needs electricians and plumbers); and buy a house once they’re making mid-to-high five figures in their twenties.

With the money they’re saving on college tuition, some parents can invest in their trade-school grads’ start-ups. The WSJ profiles one such family, whose older son is attending trade school for automotive repair, and then hopes to start his own mobile detailing service, before expanding into auto-body work. His father is thrilled, and plans to invest in his son’s business, and then do the same for his younger son when he gets ready to start a welding business.

How can brands better serve these young tradespeople?

*Include them in ads. Don’t exclusively feature big-city, white-collar or “creative class” young adults in ads; also make sure to include hard-working, blue-collar folks enjoying your brand (a rarity for categories outside of blue jeans, beer and pickup trucks).

*Address their needs. These young tradespeople might need uniforms that are practical, durable and comfortable, yet stylish. They could probably use pain-relief devices and over-the-counter products to relieve discomfort after working a physically demanding shift. And if they’re starting their own business, they need workflow management and accounting software designed for their industry.

*Assume they’re starting sooner. While college grads are taking longer to reach key milestones of adulthood due to crippling debt loads, tradespeople can marry, start a family, buy a house and new car, and travel just as early as boomers and The Greatest Generation did. So if you’re marketing these services to white-collar consumers in their thirties (and beyond), consider how you might target tradespeople in their twenties, who are “adulting” a decade sooner.

By following these practices, your brand can help young tradespeople as they rebuild and repair America.