10 Things I Know About … Good PRAs originally Published in Worcester Business Journal, August 17, 2009 10. Have an objective 9. Have a defined message 8. Be relevant 7. Respect your audience 6. Find your audience 5. Position yourself 4. Make it easy 3. Be persistent 2. Be ready 1. Start a conversation Marketing During a Down Economy – Some Interesting StatsOver the last few years you’ve probably heard this rally cry from a number of marketers and advertisers – “Take this opportunity during a down economy to increase your market share!” Well, is it true? To what extent can you grow it? Where are the studies to back it up? A quick search online produced the following nuggets: - McGraw-Hill Research study of over 600 Businesses found that during 1981-1982, businesses that maintained or increased their ad spend during this time averaged higher sales growth during the recession and in the following three years! - By 1985, sales of the businesses that maintained or increased their ad spend during that recession had risen 256% over those that had cut back on advertising. - Likewise, in 2001, another study found that aggressive recession advertisers increased market share 2.5 times the average for all businesses in the post-recession. - In 2002, the Strategic Planning Institute illustrated that, during economic expansion, although 80% of businesses increased their advertising spend, there was NO improvement in market share! The main reason was because everyone had increased ad spending. As difficult as it is to find additional funds to allocate to marketing and advertising line items these days, it could be one of your most effective decisions as it relates to ROI. Economists believe we still have a few years of slow growth ahead of us. It could be your time to capture some very valuable market share! Giving props: Much of the above stats were taken from a paper called Innovating through Recession by Professor Andrew J. Razeghi at the Kellogg School of Management at Northwestern University. Decoding QR CodesI’m sure by now you’ve started to see little square images of block code (looks like a game of Tetris gone terribly wrong) on the bottom of magazine ads, back of airline boarding passes, business cards, etc. These are actually two-dimensional barcodes called QR (Quick Response) codes. They are readable by QR barcode readers and camera phones and according to Wikipedia were created by a subsidiary of Toyota in 1994. They were originally designed to be read at high speeds and primarily used on vehicle parts. Over the last few years, we have seen an explosion in the broad usage, especially from a marketing aspect, of this technology. Whether it’s a utilitarian application – adding your vCard info to your business card – or a little more creative – incorporating a QR code into your latest tattoo and driving someone to your Facebook page, the applications look endless! In most cases, QR codes still drive people to a specific URL on the web that contains additional product or service information, but as you can see from the following two articles from Mashable, marketers continue to conceptualize new and creative uses: HOW TO: Grow Your Sales and Revenue Using 2D Codes
2D Codes: The 10 Commandments for Marketers If you’re interested in brainstorming your use of QR codes, contact me and I’ll be certain to get right back to you. If you already have an idea and want to try your hand at generating your first QR code, it’s easy and better yet … free. Try the following QR code generators: www.qr.net or www.goqr.me. My Inaugural Blog PostIn some respects this blog post has been 20 years in the making. Exsel happens to be celebrating its 20th anniversary this year and I’m proud to say I have been part of 18 of those 20 years! Being in charge of the day-to-day operations for the past few years, I have a much greater appreciation for the founder of Exsel – Donna Messier. As far as I’m concerned her accomplishments as a successful businesswoman are only overshadowed by what a caring and giving mother she has been to me and my three siblings. The reigns have officially been passed and I only hope to approach the level of success she has had in her outstanding career. Job well done Mom! Thinking about this anniversary, I’ve realized the dichotomy between reflecting on my own personal journey to this point and constantly visualizing the future for Exsel. When I think back it’s probably little surprise to me that I ended up in this arena. I remember being required to declare a major during my first week at college (I thought I had at least my whole freshman year to decide). It seemed like hours in my mind, but Marketing and Advertising were the words that finally came out of my mouth. The intrigue to me was the impact you could have on people, whether from a powerful visual or simple words used in just the right context. The curveball (I had to get a baseball reference in here somewhere) came shortly after I declared my major – I actually switched to accounting! This probably isn’t much of a surprise for those close to me. The technical and analytical part of me won out at that point in my life. In the end, I did get an accounting degree and went on to become a CPA. Sorry, I can’t help with any tax questions as I was one of those “auditors” that everybody was so happy to see. Truth-be-told, I had a terrific three years with the accounting firm. I was exposed to so many different businesses and worked with a great group of uber-smart people. I’d like to think it gave me a good foundation for running the business-side of agency. At least my accountant is appreciative that he doesn’t have to explain reconciling entries to me each year! Near the end of my stay at the accounting firm I came to realize two things. The first is that I had a knack for computers. The second, which was a little more profound, was that the agency my mother started was creating some cool stuff! To this day I still get calls from friends and family for computer (mac only please) and home theater support. This technical ability came in handy when I made the move to Exsel in 1993. It allowed my to oversee the creation of Exsel’s digital workflow. I’m a little further removed from the production aspect these days, but still like to pull up a chair to a workstation every now and then. I think the years spent as a Production Manager, Account Executive and Vice President have translated to understanding realistic goals and both internal and external processes. I think this experience helps ground our strategy and execution of deliverables leading to more effective and rewarding relationships with our clients. This seems to be a pretty good segue into the second part of the dichotomy mentioned above – visualizing the future for Exsel. Over our twenty year history we have and need to continue evolving. The agency was originally built on package design for the sporting goods and toy industries. Today, we service clientele from a wide spectrum of the B2B and B2C space. The changes in our industry have been profound, not only over the twenty year period, but just within the last few. We are immersed in a push for inbound marketing. The pace of our lives and the resulting time constraints on people certainly make our profession of marketing and advertising more challenging. How many people fast-forward by commercials on their DVR’s because every minute seems to be accounted for? This is an example of the challenges we face. We ultimately need to be in front of that consumer on their terms and when it makes sense for them. In order to find this proper intersection we need to use … say it with me … Smart Marketing! This is the vision I have for Exsel. Every task we take on needs to pass this question – Is this Smart Marketing? Whether it’s building brands from the ground up or reinvigorating existing brands, creating messaging that resonates or finding the proper medium to deliver that message – Is it Smart Marketing? It’s only four words, but they are four words that will make us accountable to our clients and continue to push ourselves. I think that’s about it for now. I’m off to one of my girl’s games (so proud – starting varsity shortstop as a freshman). Please drop a comment about Exsel or anything else for that matter. Thanks for reading! |
We are always looking to team up on exciting new projects. If you have one in mind and need some help getting it off the ground, feel free to shoot us a message or give us a ring.