Marketing one's self is an activity that most people tend to shy away from. There are the rare few who relish in every moment they spend “tooting their own horns”. However, these zealous and unique creatures are hard to find among the Homo Sapiens species. For most of us, the ability to tactfully promote one’s assets and strengths is not necessarily a natural trait. Yet, self-marketing can be learned and perfected like any other skill. And this activity is becoming more and more important as virtually every job market, workplace environment, and creative community is brimming with skilled and educated pools of talent. If you want to find a great professional opportunity, get a promotion, start a business, and even get into the best education programs, you have to learn how to communicate your own personal brand in a manner that is positive, effective, and leaves your intended audience with a clear sense of your strengths, accomplishments, and goals.
I know. You are probably uncomfortable with the term “self promotion”, as it often conjures up negative images of an obnoxious braggart who is completely oblivious of how undesirable he or she is to be around. However when self-promotion or self-marketing is done properly, people can truly see a positive difference in how they are perceived and treated by others. In fact, those who have perfected this art, reap the rewards of their efforts in the form of successful careers, businesses and creative endeavors.
While self-promotion is going to vary in its appearance based on who is practicing this art, there are some golden rules to abide by when attempting to skillfully market yourself to others.
Make sure that you have accurately assessed your skills, strengths, accomplishments and goals. Think of yourself as a product with a personal brand, and make sure that the “product” is authentic and can deliver what your marketing campaign says that it can. In other words, make sure that you are not just telling people what you think will make you sound good. Instead, tell people what you truly believe are your features, advantages and benefits!
Get some feedback from colleagues, friends, and bosses to develop a total picture of how you are truly perceived, and what others value about you. This will also help you figure out what is best to convey to others when you are promoting your “product”.
Have some key goals that you would like to accomplish when you are skillfully promoting yourself or your work. Identify what you hope to achieve when you start your one-man, or one-woman marketing effort. By doing so, you will be able to focus your efforts on marketing yourself to the most appropriate audience at the most opportune time.
Come up with a succinct and effective pitch relative to your skills and specific goals, and learn when and how to deliver it. For example you don’t want to drone on about your 10 best professional accomplishments at a networking mixer during an informal event. Nor do you want to be curt and vague when interacting with a potential employer during an informational interview. Practice striking a balance between being interesting and personable, and being assertive and credible.
Finally practice, practice, practice! The only way to master the art of self promotion is to actually get out there and do it.
You really have nothing to lose by giving yourself some credit.
by Keri Glover
Wednesday, October 29, 2008
Friday, October 10, 2008
Are you linked in?
As marketing continues to evolve, it is necessary to evaluate the impact that social media has on organizations across the globe. The explosion of social networking sites like MySpace, Facebook, and LinkedIn have changed the way people interact with each other. Instead of calling friends individually and having a traditional conversation, anyone can set up an account and post a live news feed of what they are doing, thinking and feeling in a matter of seconds. Instantaneously, a social network participant can easily communicate with hundreds of people with the touch of a button!
Not only is this phenomenon amazing, it can also be quite useful to a marketer. Most organizations realize that they need to have an online presence that extends beyond a website. However, many still struggle to fully understand how to effectively use social media to promote their brand and their business.
So how exactly can businesses and non-profit organizations benefit from joining social networking sites? There are many ideas about why an organization should join the masses on Facebook and LinkedIn, and even more theories about what having a social networking site presence, can and cannot do for an organization.
However after doing some online research, I found five of the most popular reasons to join a social networking site, as well as some important expectation levels to keep in mind when signing your organization up to be LinkedIn with the world.
1. Learn more about a particular community of interest - Access the average social networking page and you can easily find out what people who share common interests think about everything from the political debates to the latest iPhone. It is the least expensive way to conduct informal research, which can be used as a starting point for identifying opportunities to engage target audiences in social participation with your brand.
2. Increase brand visibility and authority – Consumers are hopefully talking about your brand already. Therefore social media networking sites and blogs give your organization the opportunity to find out what consumers really like about your products and services, and what your organization could improve upon. It is better to be part of the conversation and contribute in a way that supports your brand, rather than sit on the sidelines and tune out.
3. Increase traffic to your site – The hyperlink can often be an organization’s best friend, leading to untold glory in the internet world. Social networking sites and blogs offer the opportunity to add links which can direct consumers exactly where you want them to go for more information about your brand and your business.
4. Create a buzz without paying for advertising – Now, I don’t think anyone recommends completely abandoning traditional methods of advertising just yet. However in certain circumstances, it may be preferable to use a social networking site to promote a local event, or to encourage participation in a consumer contest or sweepstakes. Remember, if your target audience for a particular promotion is small, you can easily reach them using alternative methods. Why spend money to meet your goals and objectives if you don’t have to?
5. Establish your presence as a progressive organization – There are many qualities that an organization must possess to achieve longevity and success. Among these qualities are leadership, innovation, and the ability to remain progressive. True growth only occurs when an organization recognizes and accepts change. It is crucial that businesses continue to stay informed about how the world is changing, and figure out how to ensure that their organization is able to change with the times accordingly. Also, it is important to note that consumers value this quality in organizations and will often regard a progressive business as an organization they can grow with.
Now that we have listed some great reasons to join a social networking site, it is equally important to offer some information about managing expectations. While Social Media marketing is growing and yielding some very promising results for many, organizations have to use sound business practices and understand three important facts.
1. Social networking sites cannot effectively replace traditional marketing tactics and strategies.
2. Facebook, MySpace, and LinkedIn are not going to reach every single member of your target audiences, nor are these sites the best venue for achieving every marketing goal.
3. Last but not least, organizations need dedicated staff members to manage their presence on these sites.
These sites can be a wonderful tool if they are used appropriately. However always remember to set clear goals, objectives, and expectations before becoming a member and building your friend or fan list.
Keri Glover
Not only is this phenomenon amazing, it can also be quite useful to a marketer. Most organizations realize that they need to have an online presence that extends beyond a website. However, many still struggle to fully understand how to effectively use social media to promote their brand and their business.
So how exactly can businesses and non-profit organizations benefit from joining social networking sites? There are many ideas about why an organization should join the masses on Facebook and LinkedIn, and even more theories about what having a social networking site presence, can and cannot do for an organization.
However after doing some online research, I found five of the most popular reasons to join a social networking site, as well as some important expectation levels to keep in mind when signing your organization up to be LinkedIn with the world.
1. Learn more about a particular community of interest - Access the average social networking page and you can easily find out what people who share common interests think about everything from the political debates to the latest iPhone. It is the least expensive way to conduct informal research, which can be used as a starting point for identifying opportunities to engage target audiences in social participation with your brand.
2. Increase brand visibility and authority – Consumers are hopefully talking about your brand already. Therefore social media networking sites and blogs give your organization the opportunity to find out what consumers really like about your products and services, and what your organization could improve upon. It is better to be part of the conversation and contribute in a way that supports your brand, rather than sit on the sidelines and tune out.
3. Increase traffic to your site – The hyperlink can often be an organization’s best friend, leading to untold glory in the internet world. Social networking sites and blogs offer the opportunity to add links which can direct consumers exactly where you want them to go for more information about your brand and your business.
4. Create a buzz without paying for advertising – Now, I don’t think anyone recommends completely abandoning traditional methods of advertising just yet. However in certain circumstances, it may be preferable to use a social networking site to promote a local event, or to encourage participation in a consumer contest or sweepstakes. Remember, if your target audience for a particular promotion is small, you can easily reach them using alternative methods. Why spend money to meet your goals and objectives if you don’t have to?
5. Establish your presence as a progressive organization – There are many qualities that an organization must possess to achieve longevity and success. Among these qualities are leadership, innovation, and the ability to remain progressive. True growth only occurs when an organization recognizes and accepts change. It is crucial that businesses continue to stay informed about how the world is changing, and figure out how to ensure that their organization is able to change with the times accordingly. Also, it is important to note that consumers value this quality in organizations and will often regard a progressive business as an organization they can grow with.
Now that we have listed some great reasons to join a social networking site, it is equally important to offer some information about managing expectations. While Social Media marketing is growing and yielding some very promising results for many, organizations have to use sound business practices and understand three important facts.
1. Social networking sites cannot effectively replace traditional marketing tactics and strategies.
2. Facebook, MySpace, and LinkedIn are not going to reach every single member of your target audiences, nor are these sites the best venue for achieving every marketing goal.
3. Last but not least, organizations need dedicated staff members to manage their presence on these sites.
These sites can be a wonderful tool if they are used appropriately. However always remember to set clear goals, objectives, and expectations before becoming a member and building your friend or fan list.
Keri Glover
Thursday, October 2, 2008
Are you ready for Green marketing?
Green marketing is the marketing of products that are presumed to be environmentally safe. Thus green marketing incorporates a broad range of activities, including product modification, changes to the production process, packaging changes, as well as modifying advertising. Yet defining green marketing is not a simple task where several meanings intersect and contradict each other; an example of this will be the existence of varying social, environmental and retail definitions attached to this term. Other similar terms used are Environmental Marketing and Ecological Marketing.
The term Green Marketing came into prominence in the late 1980s and early 1990s. The American Marketing Association (AMA) held the first workshop on "Ecological Marketing" in 1975. The proceedings of this workshop resulted in one of the first books on green marketing entitled "Ecological Marketing".
According to Jacquelyn Ottman, (author of Green Marketing: Opportunity for Innovation) from an organizational standpoint, environmental considerations should be integrated into all aspects of marketing — new product development and communications and all points in between. The holistic nature of green also suggests that besides suppliers and retailers new stakeholders be enlisted, including educators, members of the community, regulators, and NGOs. Environmental issues should be balanced with primary customer needs.
The past decade has shown that harnessing consumer power to effect positive environmental change is far easier said than done. The so-called "green consumer" movements in the U.S. and other countries have struggled to reach critical mass and to remain in the forefront of shoppers' minds. While public opinion polls taken since the late 1980s have shown consistently that a significant percentage of consumers in the U.S. and elsewhere profess a strong willingness to favor environmentally conscious products and companies, consumers' efforts to do so in real life have remained sketchy at best. One of green marketing's challenges is the lack of standards or public consensus about what constitutes "green," according to Joel Makower, a writer on green marketing. In essence, there is no definition of "how good is good enough" when it comes to a product or company making green marketing claims. This lack of consensus -- by consumers, marketers, activists, regulators, and influential people -- has slowed the growth of green products, says Makower, because companies are often reluctant to promote their green attributes, and consumers are often skeptical about claims.
Despite these challenges, green marketing has continued to gain adherents, particularly in light of growing global concern about climate change. This concern has led more companies to advertise their commitment to reduce their climate impacts, and the effect this is having on their products and services.
The term Green Marketing came into prominence in the late 1980s and early 1990s. The American Marketing Association (AMA) held the first workshop on "Ecological Marketing" in 1975. The proceedings of this workshop resulted in one of the first books on green marketing entitled "Ecological Marketing".
According to Jacquelyn Ottman, (author of Green Marketing: Opportunity for Innovation) from an organizational standpoint, environmental considerations should be integrated into all aspects of marketing — new product development and communications and all points in between. The holistic nature of green also suggests that besides suppliers and retailers new stakeholders be enlisted, including educators, members of the community, regulators, and NGOs. Environmental issues should be balanced with primary customer needs.
The past decade has shown that harnessing consumer power to effect positive environmental change is far easier said than done. The so-called "green consumer" movements in the U.S. and other countries have struggled to reach critical mass and to remain in the forefront of shoppers' minds. While public opinion polls taken since the late 1980s have shown consistently that a significant percentage of consumers in the U.S. and elsewhere profess a strong willingness to favor environmentally conscious products and companies, consumers' efforts to do so in real life have remained sketchy at best. One of green marketing's challenges is the lack of standards or public consensus about what constitutes "green," according to Joel Makower, a writer on green marketing. In essence, there is no definition of "how good is good enough" when it comes to a product or company making green marketing claims. This lack of consensus -- by consumers, marketers, activists, regulators, and influential people -- has slowed the growth of green products, says Makower, because companies are often reluctant to promote their green attributes, and consumers are often skeptical about claims.
Despite these challenges, green marketing has continued to gain adherents, particularly in light of growing global concern about climate change. This concern has led more companies to advertise their commitment to reduce their climate impacts, and the effect this is having on their products and services.
Lien Leonardi
Wednesday, September 24, 2008
Does size matter?
When it comes to the quality and success of a business, size does not play as much of a factor as one may think. Of course larger organizations tend to have more resources and influence in the national and global business communities. However, being a small business owner does not relegate one to a life of meager profits and market obscurity. Small businesses are still the building blocks of our economy, and despite their size, these organizations offer many of us great products, popular services and the inspirational example of the “American dream”.
Small businesses have also evolved from the one man show variety, to encompass sophisticated partnerships and corporations that employ several talented members of society.
Smaller can be better, and listed below are the top five advantages that small businesses have over their larger counterparts.
1. Personalized Customer Attention & Service – Sure, the larger companies may have more customers. But rarely do these huge companies provide the level of personal attention that a small business can offer a valued patron.
2. Flexibility - How many times have we heard the dreaded “Our policy states…” line from a large business. But smaller businesses can be refreshingly flexible and open to listening to customer suggestions or meeting individual needs.
3. Strong focus – Small businesses have to use their resources and energy wisely. Therefore, many narrow their focus to one or two areas and often become valuable specialists in their fields.
4. Adaptability - The bigger a business is, the slower it usually moves. Small businesses can be nimble and quick when deciding to move in a new direction with their company. So customers can see improvements and changes right away with their favorite local business. On the flip side of this, if a small business makes a mistake, it can quickly be corrected.
5. Freedom - Most large businesses are corporations which are influenced heavily by shareholders, board members, and the upper echelon of management. With all of these cooks in the kitchen, it is difficult for any big organization to have a true personality that can be clearly expressed at all times. In contrast, smaller businesses usually consist of a tight-knit group of people who share common goals and ideas, and work really hard to make sure that the essence of these ideas are expressed in their business. The small business has the freedom to embody the qualities of the owner or owners, and that is a beautiful thing.
So in case you are still wondering…..
No, size doesn’t matter.
And in the world of business, being small can definitely be used as an advantage to cultivate a big success.
Keri Glover
Small businesses have also evolved from the one man show variety, to encompass sophisticated partnerships and corporations that employ several talented members of society.
Smaller can be better, and listed below are the top five advantages that small businesses have over their larger counterparts.
1. Personalized Customer Attention & Service – Sure, the larger companies may have more customers. But rarely do these huge companies provide the level of personal attention that a small business can offer a valued patron.
2. Flexibility - How many times have we heard the dreaded “Our policy states…” line from a large business. But smaller businesses can be refreshingly flexible and open to listening to customer suggestions or meeting individual needs.
3. Strong focus – Small businesses have to use their resources and energy wisely. Therefore, many narrow their focus to one or two areas and often become valuable specialists in their fields.
4. Adaptability - The bigger a business is, the slower it usually moves. Small businesses can be nimble and quick when deciding to move in a new direction with their company. So customers can see improvements and changes right away with their favorite local business. On the flip side of this, if a small business makes a mistake, it can quickly be corrected.
5. Freedom - Most large businesses are corporations which are influenced heavily by shareholders, board members, and the upper echelon of management. With all of these cooks in the kitchen, it is difficult for any big organization to have a true personality that can be clearly expressed at all times. In contrast, smaller businesses usually consist of a tight-knit group of people who share common goals and ideas, and work really hard to make sure that the essence of these ideas are expressed in their business. The small business has the freedom to embody the qualities of the owner or owners, and that is a beautiful thing.
So in case you are still wondering…..
No, size doesn’t matter.
And in the world of business, being small can definitely be used as an advantage to cultivate a big success.
Keri Glover
Sunday, September 21, 2008
VIRAL MARKETING
Viral marketing and viral advertising refer to marketing techniques that use pre-existing social networks to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, analogous to the spread of pathological and computer viruses. It can be word-of-mouth delivered or enhanced by the network effects of the Internet. Viral marketing is a marketing phenomenon that facilitates and encourages people to pass along a marketing message voluntarily. Viral promotions may take the form of video clips, interactive Flash games, advergames, ebooks, brandable software, images, online video clips or even text messages. The basic form of viral marketing is not infinitely sustainable.
It is claimed that a customer tells an average of three people about a product or service he/she likes, and eleven people about a product or service which he/she did not like. Viral marketing is based on this natural human behavior.
It is claimed that a customer tells an average of three people about a product or service he/she likes, and eleven people about a product or service which he/she did not like. Viral marketing is based on this natural human behavior.
The goal of marketers interested in creating successful viral marketing programs is to identify individuals with high Social Networking Potential (SNP) and create Viral Messages that appeal to this segment of the population and have a high probability of being passed along.
The term "viral marketing" is also sometimes used pejoratively to refer to stealth marketing campaigns—the use of varied kinds of astroturfing both online and offline to create the impression of spontaneous word of mouth enthusiasm.
One of the most efficient ways of spreading the word around about one’s products is the viral marketing technique. It takes the form of a few different internet marketing strategies that have proven their success. They actually take advantage of the great connection which exists among all internet surfers. And bear in mind: if you want to be a really successful internet business person who wants to earn money online, you have to take advantage of at least one of these simple strategies:marketing technique. It takes the form of a few different internet marketing strategies that have proven their success. They actually take advantage of the great connection which exists among all internet surfers. And bear in mind: if you want to be a really successful internet business person who wants to earn money online, you have to take advantage of at least one of these simple strategies:
THE PASS-ALONG TECHNIQUE
Have you ever received a mail with a funny video? A mail that shows you something very funny or very unusual. After seeing that, your immediate reaction is to pass it along to your entire group of friends for them to see that cool video, or picture, or letter, whatever. Well, this is the main purpose, as it encourages you to do just that. There are many ways of spreading it. At the beginning, the main one was the e-mail. Nowadays, Instant Messaging is very popular because all of us are more likely to trust a link sent by a friend than one received in our e-mails.
THE UNDERCOVER TECHNIQUE
This one is actually trickier, because you don’t get the impression that something is actually marketed. It takes the form of an out-of-this-world piece of news, picture, etc. The publicity is made somewhere in the background, and it doesn’t have a direct connection with what you are viewing.
THE WORD OF MOUTH TECHNIQUE
Also called the “buzz” marketing technique, it takes the form of a gossip, or a piece of news that is bound to create that buzz it borrows its’ name from. The information within this viral is very controversial, it makes people discuss the issue with others. This is most effective when there are celebrities involved, because everyone wants to know what happens to Brad Pitt, Angelina Jolie, Robbie Williams, etc.
THE “REWARD” TECHNIQUE
Each time a person is signed up for a certain e-mail database, he gets a reward for referring it to others. This is a great way to dramatically increase the referrals database. It is even more efficient when it prompts for action, like participating in online contests.
Lien Leonardi
Monday, September 8, 2008
Out Of Home Advertising Trend
Outdoor advertising is getting a great deal of attention from marketers these days. While accounting for only a small proportion of overall ad spending, outdoor advertising, also known as “out-of-home,” is gaining share rapidly in both established and developing economies. Only online advertising is growing faster.
Advertisers have good reason for revisiting out-of-home communication. The combined effects of a number of trends have made consumers more mobile. Urbanization is increasing around the globe, and commutes between home and workplace are longer than ever, in terms of both time and distance. With TV audiences now fragmented across dozens of channels, television is not the preeminent reach vehicle it once was. Therefore, marketers who need to reach large numbers of people efficiently are reconsidering out-of-home opportunities.
Out-of-home advertising (also referred to as OOH) is essentially any type of advertising that reaches the consumer while he or she is outside the home. This is in contrast to broadcast, print, or internet advertising, which may be delivered to viewers out-of-home (e.g. via tradeshow, newsstand, hotel lobby room), but are usually viewed in the home or office. Out-of-home advertising products are divided among three primary categories: Billboards, street furniture and transit. OOH encompasses outdoor advertising but extends to the indoors as well (such as ads in malls).
The Out-of-Home (OOH) industry has pretty much standardized on three ‘advertising classifications” in order to further sub-divide and classify the sector:
· High Impact Sites
A terminology that covers "General Outdoor" and other high impact, large screens inside buildings, air and railway terminals etc. and mobile solutions.
· Retail
Typically high street retail, but also includes shopping malls and factory outlets – high street or out of town. It does not include certain in-store locations that are better described as captive (ie, hair salons).
· Captive Audience
These run in locations where the audience is stationary and remains in view of a screen, such as in transport (taxis, buses, trains etc.), for a period of time. This also includes in-flight advertising on seat-back entertainment systems, overhead storage bins and tray tables. This classification also includes a lot of "leisure" installations; typically installed in pubs, clubs, bars, casinos etc.
(Source: Out-of-home advertising - Wikipedia, the free encyclopedia)
In fact, as digital, video and wireless technologies redefine the sector over the next few years, it will rank second only to Internet advertising in ad spending growth. "Outdoor advertising is bucking the trend," says Ben Macklin, eMarketer Senior Analyst and author of the new report, Outdoor Advertising: A New Look. "While other traditional advertising sectors are struggling to adapt to increasingly fragmented audiences and changing media consumption patterns, the out-of-home advertising sector is actually reaping the benefits of the evolving media landscape." Unlike TV or radio, out-of-home advertising is immune to channel or Web surfing and digital and video technologies are making the medium more compelling and effective.
eMarketer forecasts that out-of-home video advertising spending inthe US will total $2.25 billion in 2011, up from $1.26 billion in 2007. According to a new report from PQMedia, alternative out-of-home ad campaigns - digital billboards and video ad networks - are working better than marketers had hoped. According to the report, alternative out-of-home media spending jumped to $1.69 billion in 2006 and is expected to grow even more in 2007. The report expects 27.7% growth in 2007. The segment has seen double digit growth every year since 2001. Video advertising is expected to push the most growth in 2007; that segment showed a 26% growth in 2006. The falling costs of flat panel LCDs, combined with the emergenceof IP and wireless Internet technology are driving the out-of-home video advertising market.
(Source: http://www.reuters.com/article/pressRelease/idUS127782+02-Jan-2008+BW20080102)
Lien Leonardi
Advertisers have good reason for revisiting out-of-home communication. The combined effects of a number of trends have made consumers more mobile. Urbanization is increasing around the globe, and commutes between home and workplace are longer than ever, in terms of both time and distance. With TV audiences now fragmented across dozens of channels, television is not the preeminent reach vehicle it once was. Therefore, marketers who need to reach large numbers of people efficiently are reconsidering out-of-home opportunities.
Out-of-home advertising (also referred to as OOH) is essentially any type of advertising that reaches the consumer while he or she is outside the home. This is in contrast to broadcast, print, or internet advertising, which may be delivered to viewers out-of-home (e.g. via tradeshow, newsstand, hotel lobby room), but are usually viewed in the home or office. Out-of-home advertising products are divided among three primary categories: Billboards, street furniture and transit. OOH encompasses outdoor advertising but extends to the indoors as well (such as ads in malls).
The Out-of-Home (OOH) industry has pretty much standardized on three ‘advertising classifications” in order to further sub-divide and classify the sector:
· High Impact Sites
A terminology that covers "General Outdoor" and other high impact, large screens inside buildings, air and railway terminals etc. and mobile solutions.
· Retail
Typically high street retail, but also includes shopping malls and factory outlets – high street or out of town. It does not include certain in-store locations that are better described as captive (ie, hair salons).
· Captive Audience
These run in locations where the audience is stationary and remains in view of a screen, such as in transport (taxis, buses, trains etc.), for a period of time. This also includes in-flight advertising on seat-back entertainment systems, overhead storage bins and tray tables. This classification also includes a lot of "leisure" installations; typically installed in pubs, clubs, bars, casinos etc.
(Source: Out-of-home advertising - Wikipedia, the free encyclopedia)
In fact, as digital, video and wireless technologies redefine the sector over the next few years, it will rank second only to Internet advertising in ad spending growth. "Outdoor advertising is bucking the trend," says Ben Macklin, eMarketer Senior Analyst and author of the new report, Outdoor Advertising: A New Look. "While other traditional advertising sectors are struggling to adapt to increasingly fragmented audiences and changing media consumption patterns, the out-of-home advertising sector is actually reaping the benefits of the evolving media landscape." Unlike TV or radio, out-of-home advertising is immune to channel or Web surfing and digital and video technologies are making the medium more compelling and effective.
eMarketer forecasts that out-of-home video advertising spending inthe US will total $2.25 billion in 2011, up from $1.26 billion in 2007. According to a new report from PQMedia, alternative out-of-home ad campaigns - digital billboards and video ad networks - are working better than marketers had hoped. According to the report, alternative out-of-home media spending jumped to $1.69 billion in 2006 and is expected to grow even more in 2007. The report expects 27.7% growth in 2007. The segment has seen double digit growth every year since 2001. Video advertising is expected to push the most growth in 2007; that segment showed a 26% growth in 2006. The falling costs of flat panel LCDs, combined with the emergenceof IP and wireless Internet technology are driving the out-of-home video advertising market.
(Source: http://www.reuters.com/article/pressRelease/idUS127782+02-Jan-2008+BW20080102)
Lien Leonardi
Wednesday, August 27, 2008
Recession Proof Marketing
In these uneasy and murky waters of a recession, the Dow Jones Industrial Average continues to decline, the dollar weakens, companies participate in massive layoffs, and most working class Americans tighten their budgets and the proverbial grip on their wallets.
Naturally we assume that organizations should cut back as well, particularly if they can no longer afford to keep all of their employees. When the economy is in trouble, we will all be adversely affected on some level. Therefore the only reasonable thing to do is to eliminate unnecessary spending and preserve resources.
Naturally we assume that organizations should cut back as well, particularly if they can no longer afford to keep all of their employees. When the economy is in trouble, we will all be adversely affected on some level. Therefore the only reasonable thing to do is to eliminate unnecessary spending and preserve resources.
Well, this may not necessarily be the best advice for marketing professionals. Several industry experts argue that marketing budgets should not be slashed in an effort to deal with an economic downturn. In fact, according to Marketing Your Way Through A Recession, by John Quelch at the Harvard Business School, “Brands that increase advertising during a downturn can improve market share and return on investment.” There are also several ways to increase brand awareness and sales during a recession which include, focusing on core values, adjusting price tactics, and researching the customer.
So before you start cutting your marketing budget in dutiful response to the economic climate, you may want to re-examine your marketing activities and simply make some smart and strategic revisions.
So before you start cutting your marketing budget in dutiful response to the economic climate, you may want to re-examine your marketing activities and simply make some smart and strategic revisions.
Keri Glover
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