COMMENTARY

U.S. Hispanic Population Growth Means More Spending

• by Karla Fernandez Parker , Columnist, 47 minutes ago

The U.S. Hispanic population has grown by 83% since 2000, making it the second-fastest growth segment according to a Claritas Report, The Hispanic American Market Report. That means that almost one in five Americans are Hispanic.

While growth occurred in some of the expected major Hispanic markets like Los Angeles, New York, Houston, Miami, Dallas and Chicago, the southeastern U.S. saw sizable increases in places like Atlanta, Washington D.C.,  Tampa and Orlando.

The report goes on to describe what this means in household spending and how Hispanics spend differently. Hispanics spend 15% more on meat and eggs and 9% more on fruits and vegetables than the average U.S. household. With larger families and more children in the household,  Hispanics also outspend in the following categories:

— 21% more on men’s and boy’s apparel

— 28% more on apparel for children (under 2 years old)

— 28% more on all footwear

— 17% more on soap and cleaning products

Advertisers can capitalize on these trends and target Hispanics knowing they have the intent to spend in these categories. 

Hispanics are also heavy smartphone users who over-index on Facebook, Instagram, Snapchat and YouTube, giving advertisers the ability to geotarget in these key Hispanic markets.

In fact, digital ads that specifically target Hispanics do very well. We’ve seen higher click-through rates for Hispanic-targeted campaigns across all digital tactics.

An eMarketer report from 2017 cites that Hispanics are more interested — 30% — and somewhat more interested — 48% — in brands that advertise on Facebook versus non-Hispanics, whose percentages for those  categories are 17% and 46%, respectively.

The profit potential is clear-cut. The ability to target by language usage, geography, income, and interests makes Hispanic marketing more of a possibility than ever — and a necessity for all marketers who want to harness this huge buying segment.

Hi All Back from successful cataract surgery now..as the Who sang the lyrics, "I can see for miles and miles and miles.!"

 

 162

 15

 6

 16

 

• Nielsen's June 2019 'Audio Today' Report Finds Radio Reaches 272 Million Americans

  June 17, 2019 at 5:01 AM (PT)

  Be the first to comment!
• 

  June 2019 Report
  NIELSEN has released its JUNE 2019 Audio Today report, offering insights regarding listening trends, in all its various forms, including podcasting and smart speakers.
  The Highlights:
  AM/FM radio notably stands out from the crowd: radio reaches more Americans each week (92%) and 272 million Americans than any other platform. Across age, gender and ethnicity, radio consistently connects with a large number of consumers. 
  When NIELSEN looked at these demographics by gender, listenership remains strong. Both women and men 18-49 use radio in large numbers, with their listenership nearly equal at 65.9 million (97%) and 65.4 million (98%), respectively. And again, Country is the top format for both genders.
  When NIELSEN looked at these demographics by gender, listenership remains strong. Both women and men 18-49 use radio in large numbers, with their listenership nearly equal at 65.9 million (97%) and 65.4 million (98%), respectively. And again, Country is the top format for both genders.
  The Steady Reach Of Radio: Winning Consumers’ Attention 
  
  The company notes, "If there’s one thing we’ve learned about radio, it’s that its mass appeal has been consistent over time as America’s top reach medium. The original electronic media, radio continues to reach more Americans than any other platform measured by NIELSEN. Among adults 18+, radio reaches 92% of U.S. adults every week."
  
  
  
  
  

The Science Behind Successful Sales

Mon, 06/03/2019 - 05:31 by

Author: Lance Tyson

 

The science Behind Successful Sales

In the hypercompetitive field of sales, escalating goals have become standard. In over two decades that I’ve worked in this industry, I’ve never encountered an organization that said to me, “You know what? This year we’d be fine with flat or declining sales.” Everyone wants to see that hockey stick curve of escalating sales performance that will take their organization to unprecedented levels of success.

But achieving those sales goals is sometimes easier said than done. In many cases, the biggest struggle in driving increased sales is getting the salesperson to execute. The salesperson is the single largest factor (39%) in a customer’s purchasing decision, with more impact than any other aspect, including product quality or pricing. It’s no surprise, then, that the question often arises of whether the right people have been placed in the most critical sales roles.

In my experience, most salespeople come to the table with a range of skills and characteristics that enable them to be successful in their jobs. But in this era of 24/7 connectivity, the ready availability of information right at the buyer’s fingertips is fundamentally changing how customers buy, across the board. The biggest challenge for salespeople today is having to make constant decisions on the fly as they adapt to the needs of the buyer.

 

That’s why, from an organizational standpoint, it’s critical to match the right skill set to the task at hand.

The Value of Predictive Analytics

When it comes to hiring, training, managing and coaching salespeople, there is actually a formula for success with some science behind it.

The first step in the formula is to find out what people are naturally good at. Predictive analytics, captured through an onboarding assessment, have been proven to increase productivity, reduce turnover, and ensure ROI on the cost of the hire.

Through predictive analysis, we’ve identified a set of six core skills and characteristics where high-performing salespeople score well:

Qualifying prospects with a swift level of interest –People who score well on this capability are able to capitalize on the moment in a closing market by quickly and accurately gauging someone’s readiness to buy. They recognize that time is too precious to spend with indifferent prospects and instead invest their time with people who clearly want or need the product.

 

Analyzing the prospect’s needs – High scorers in this category expect to sell to the majority of prospects, so they develop the ability to assess whether there is a fit through a series of questions. They then react quickly and objectively to the answers to either disqualify or proceed through the sales process.

Presenting a compelling solution – People who are competent in this skill know how to excite a potential customer with an enthusiastic presentation style. They also know how to demonstrate value and hold the customer’s attention by keeping the presentation content relevant, and are able to vary their style in order to build toward a buying decision.

 

Removing objections – Those who excel in this skill know how to probe and resolve concerns that might prevent a purchase decision. This requires the ability to patiently listen, probe, clarify, and resolve customer concerns rather than ignoring or discounting potential issues.

Negotiating – This skill necessitates finding points of agreement with the buyer by coming to consensus about what they are looking to do, assuring them that their solution addresses their need, and finding a navigational path toward closing the deal.

 

Closing using incremental steps – This requires the ability to reinforce the purchase decision with a series of logical reasons that support the sale. In a complex sale with multiple phases, the salesperson needs to set objectives for each encounter and gain agreement at a number of milestones in the process. People who score well in this area know how to provide ammunition for the buyer to justify the cost and defend the purchase and encourage a buying decision by demonstrating future savings and ease of transition.

 

Let’s face it, telling a duck that it has to fly like an eagle ultimately just ends up frustrating the duck. Predictive analysis can help sales managers make better decisions on how to hire, train, develop, coach, and lead their sales teams. That’s why assessments are a critical step to any sales strategy, in order to determine the strengths, weaknesses, and competencies of the team members. Once you’ve attained a clear view of what you are working with, you can equip your salespeople with the training they need in order to develop.

Lance Tyson, president and CEO of Tyson Group, is a seasoned entrepreneur known for training sales talent for some of the biggest names in professional sports and entertainment, including Topgolf, The Dallas Cowboys, Miami Dolphins, and the National Basketball Association. He is the author of “Selling Is an Away Game: Close Business and Compete in a Complex World.”

The Best Selling Is Done On The Front End

The Best Selling Is Done On The Front End

By

Bob McCurdy

June 2, 2019

(By Bob McCurdy) Many successful salespeople think of themselves as marketers/educators who also “sell.” This foundational view is based on the notion that if clients know what they know, the clients would then be likely to believe what they believed and, more often than not, then do what they’re recommending.

But to “educate,” a salesperson must first establish that they are “worth being seen” in this saturated media vendor landscape. One way of accomplishing this is by continually bringing the three “I’s”- information, insights, and ideas to the client or prospect. And one of the side-benefits of being seen is that it enables a salesperson to “pre-sell” their media assets by continually restating and reframing their “story” prior to a revenue opportunity surfacing.

Preselling done right is the “I am trying to sell you something but will not be boorishly overly aggressive about it, while I effectively brand and separate myself from the competition, learning more about your business and deepening our relationship, while simultaneously positioning myself and my media assets in a professional fashion” approach. No question it’s a mouthful, but it’s a strategy that remains as effective today as it’s ever been.

At its core, preselling reflects a belief that business must be continuously earned, and one of the most effective ways it is earned is by consistently communicating what differentiates your media assets from the competition’s before the buyer or client needs to make a purchasing decision. That’s why there’s the prefix “pre” before “selling.”

Preselling is easier today than it’s ever been due to the communication tools at our fingertips. It requires some planning, but most importantly it requires discipline. Effective preselling, while requiring some time on the front end, saves a lot more on the back end, and reduces stress, uncertainty, and wasted hours, while increasing effectiveness, job satisfaction, job security, and most importantly, income.

Because we anticipated, stayed in contact with the buyer or planner, consistently forwarded and discussed useful information — which not only reinforced our story but served to enhance our relationship — we can focus on the “important” and not the “urgent.” While the competition is scurrying around trying to sell their cluster’s benefits to the buyer/client, who has no time to listen due to their own deadlines/work commitments, by having done the “important” (effectively preselling), we are not required to do the less-effective and often fruitless “urgent,” trying to sell the value of our media assets once there’s money on the table.

For decades the main excuse for not preselling has been the lack of time, but top performers find a way, and if they can’t “find” a way, they “make” a way. There’s time to chat with co-workers, post on Facebook and Instagram, hit the gym, etc. so if there’s time for this stuff, there’s time to presell. Time is “found” for what is believed to be important, for the other stuff excuses suffice. Positioning the importance and value of our stations in advance of an avail/opportunity is quite important and is one of the most effective ways to close more sales from both agencies and direct clients.

Preselling is visibility with value and is not limited to being face-to-face. While we can’t be physically present with every client every day, nor would they want us to be, we can maintain effective visibility when we’re not in their presence, creatively telling our story before it needs to be embraced or refreshed.

The outcome of any sales opportunity is largely predetermined by the time there is a revenue opportunity. The best performers understand this and never lose sight of the fact that their media assets are only effectively presold when their clients/prospects are 100% convinced they are deserving of their business. Not one moment before. They also understand preselling is a never-ending, ongoing process.

Preselling is “effective selling” and goes hand-in-hand with educating. Do both and good things happen. By the way, this applies to both terrestrial assets as well as digital assets. Are clients and buyers busier than ever before? Yep. But preselling is still possible. Be sure to find a way, or make a way, to make it happen.

Bob McCurdy is Vice President of Sales for the Beasley Media Group 

Commentary

The End Of Multicultural Marketing?

• by Jose Villa , Columnist, May 28, 2019

Merriam-Webster defines multicultural: Of, relating to, reflecting, or adapted to diverse cultures
In the context of marketing, multicultural is generally accepted as the practice of marketing to one or more audiences of a specific ethnicity (e.g. Hispanic, African American) that is outside of the majority culture or “general market.” I have described it before as “targeted marketing efforts to a specific, clearly defined ethnic group.”

A quick look at Google Trends over the last 10 years for searches of the term “multicultural marketing” in the U.S. paints a picture of a trend I’ve been anecdotally experiencing, with overall downward momentum.

I feel we’re approaching the end of the line for both the term and practice of multicultural marketing. The end of the term is happening quickly, with the end of the practice following closely.

Why is the term multicultural marketing dying? A couple of important reasons. First and foremost, the term has become highly politicized. As Wikipedia states, “Multiculturalism as a political philosophy (my emphasis) involves ideologies and policies which vary widely. It has been described as a ‘salad bowl’ and as a ‘cultural mosaic — in contrast to a melting pot.”

It has become a central battleground for the cultural wars in the U.S., pitting multiculturalism vs. assimilation, essentially tainting the word for at least half the country.

Demographic changes are also making the term increasingly obsolete. As immigration continues into the U.S. and the minority populations of Hispanics, African Americans, Asians, and other ethnic groups continues growing, the U.S. is increasingly becoming a plurality. The concept of an ethnic minority set against a majority culture seems increasingly irrelevant and dated. The growth of a biracial and mixed-race population and the growing fusion cultural mix that more accurately describes the U.S. in 2019 is completely out of sync with the simplistic ethnic-based segmentation model at the center of multicultural marketing.

It is also becoming antiquated as a business model. Twenty years ago, the term multicultural marketing broadly encompassed the growing industry of marketing focused on reaching Hispanics, African American, and Asians. Over the last 10 years, the African American and Asian components of the industry slowly disappeared — as have many of the specialized ad agencies focusing on those segments — and the term is generally accepted to refer only to Hispanic marketing. In the last five years, the remaining Hispanic and multicultural advertising agencies have rebranded themselves and changed their business models to service more than just ethnic segments.

Companies with diversity and inclusion (D&I) departments and/or multicultural marketing groups are increasingly out of sync with the realities of the markets they purport to serve. Multicultural marketing has suffered a near-death blow with the introduction of the “Total Market Approach” — a supposed cultural marketing model that many large advertisers adopted. The end of multicultural points to the end of the line of the diversity/multicultural department, the ethnic (or non-ethnic) ad agency, and ethnic segmentation.

However, endings beget new beginnings, and new departments, ad agency models, and segmentation concepts will need to replace the “multicultural” versions that have existed for the last 20 years. New post-ethnic segmentation schemas are being developed that address cultural fusion, mixed-race population growth and changing immigration trends. New cultural marketing models are already emerging, such as cross-cultural/polycultural marketing. This is an exciting time to be a cultural marketer.

Get to your local Lexus dealer and let them know of the "Men in Black" campaign the manufacturers is launching. It'll help the local dealer to tie in and boost in-store test drives amongst men. Philip Jay LeNoble, Ph.D.

automotive

Lexus Launches 'Men In Black' Spot

• by Tanya Gazdik  @TanyaGazdik, May 23, 2019

Lexus is launching a spot promoting the 2020 Lexus RC F and "Men In Black: International," opening in U.S. theaters June 14.

The 30-second spot, produced by Sony and supplemented by Team One, shows off the vehicle with the two stars of the movie, Chris Hemsworth and Tessa Thompson. Thompson calls dibs on driving and gets in the driver seat, only to discover the car is right-hand drive because it’s a European version.

According to the voiceover from Minnie Driver, “When you’re protecting the earth from the scum of the universe, a little extra horsepower never hurts.”

The spot debuts on broadcast starting today and will air during cable and network sports including the NHL Stanley Cup Finals, late night including "Late Night with Seth Meyers" and the Tonight Show with Jimmy Fallon, and on prime time and cable, in addition to advanced TV, digital and social.

In partnering with Sony to create the co-branded spot, the goal was to build anticipation for the film -- while also highlighting the RC F's style and performance, says Lisa Materazzo, Lexus vice president of marketing.

“We wanted to convey that to outfit a Men in Black agent, you need the best of everything, including the best car,” she says. “We decided to mirror the scene where Tessa Thompson's character gets outfitted with her Men in Black suit and shades, and put the RC F in a similar white room to show off its styling as the ultimate Men in Black ride.”

This partnership follows a very successful collaboration between Lexus and Marvel Studios’ "Black Panther."

“While we're executing some similar elements in the marketing campaigns, 'Men in Black: International' and 'Black Panther' are very different films, with different strategic partnership goals,” Materazzo tells Marketing Daily. “For 'Men in Black: International,' we're putting the spotlight on the 2020 Lexus RC F as the ultimate alien-fighting machine. If you look back at the 'Men in Black' movies, the agents have always had a high-tech ride to help them protect the earth from the scum of the universe, and we took that to new heights in this film.”

For "Black Panther," the automaker had campaigns for both the Lexus LC 500 luxury coupe and the Lexus LS 500 F Sport.

“The fierce LC is quick and agile, so it was a natural fit to pair with the cat-like reflexes and superhuman skills of the Black Panther,” Materazzo says. “We also utilized the Black Panther’s duality as a superhero and as royalty to show the two sides of the LS: performance and luxury."

Finally, "the key for both partnerships is that they are authentic for the vehicles and for Lexus. ”

Here's a solid research piece to share with your local automotive clients! Philip Jay LeNoble, Ph.>

Commentary

Nissan Survey Says: Millennials Love Sedans

• by Tanya Gazdik , Staff Writer @TanyaGazdik, 83 minutes ago

Much has been made of the U.S. Big Three automakers greatly reducing the number of car models they are offering.

Ford announced plans last April to eliminate its most well-known cars in North America, including the Fiesta subcompact, Fusion midsize sedan and Taurus large sedan. Last November, General Motors announced it will stop making six models, including the Chevrolet Volt, Chevrolet Cruze, Chevrolet Impala and Buick LaCrosse. Fiat Chrysler Automobiles dropped the Chrysler 200 and Dodge Dart small cars in the summer of 2016.

But Nissan and its Asian counterparts — Honda, Toyota, Subaru and Mazda — are sticking it out with cars. And it might turn out to be incredibly wise, according to some recent research.
According to a survey of American car owners commissioned by Nissan, desire for sedans remains strong, particularly among millennials. Among overall respondents who don't currently own a sedan, 78% would consider buying one, and younger respondents reported an even higher affinity for the body style.

Of course, Nissan has a good reason to say that sedans are still vital, notes automotive lifestyle brand, Hagerty. The automaker recently introduced the latest version of the Versa subcompact sedan. Last year it launched an all-new Altima after spending $170 million in assembly plant upgrades for the midsize family car. Nissan also recently unveiled the refreshed Maxima, adding safety and convenience features along with updated styling.

"We see great opportunity in the sedan segment, which is why we're continuing to launch all-new and refreshed products," states Rob Warren, director and chief marketing manager at Nissan North America. "Sedans are still extremely popular with our customers, so as our competitors exit the category, they're creating even more prospects for Nissan.”

Nissan surveyed car owners and non-owners in the U.S. between the ages of 18 and 65 and found: 78% of American drivers who don't own a sedan would consider buying one now or in the future, and 86% of those 18-34 years old (Generation Z and younger millennials) who don't own a sedan would consider buying one now or in the future. The same is true for 81% of older millennials and Generation X-ers (age 35-50).

U.S. sedan owners are just as satisfied with their cars (89%) as non-sedan owners (88%). SUVs and trucks don't have a monopoly on being seen as functional. Ninety-five percent of sedan owners listed functionality as the No. 1 thing they love about their car, versus 94% for non-sedan owners.
Younger buyers appreciate the features, versatility, fuel economy and value in sedans, Warren says.
"Sedan design has also come a long way, as these traditional four-door cars shed their generic look, add more technology and take on a more aggressive, stylish profile,” Warren states. “As sedans become more exciting to look at and to drive, younger buyers are putting sedans at the top of their consideration list.”

Clearly, Nissan is marching to the beat of a different drummer from Ford, GM and FCA -- and has research to back up its choices. Only time will tell if sticking it out with certain car models is the right thing to do.