Insight on Business - September 26, 2011

Insight on Business with Michael Libbie is our Monday - Friday look at the world of advertising,  marketing and consumer trends.  Our goal is to help your business, no matter the size, look deeper at marketing ideas that work and those ideas that could use...more work.  It's an effort to help you expand your sales and brand.  Thanks to NatraTurf and Bindery One and Exceptional Specialty Products their continued support.  Let's go:

Petfood & Marketing

The cover story of Petfood Industry, a Watt publication, has some interesting consumer news.  Author George Collings, PhD and general manager of Nutrition Solutions shares his thoughts on the rising price of petfood ingredients like corn, oils and meat along with higher transportation costs.  All of which, he says, "...drives up costs of production..."  He goes on to say, "Providing quality ingredients to production is as critical to the fulfillment of the business plan as any marketing/sales campaign."  All good stuff.  But then we get into "consumer slight of hand" when he recommends, "...reduce(ing) package sizing or decrease density.  Minor changes to package volume are less noticeable, and if coupled with a lighter density, the package seems the same."  So, you are right...those new packages cost more but you're getting less.  Your Tip:  Consumers notice and they will tell others.  If you have a solid brand image and your product/service is worth the added cost, consumers will pay the price.  If not...perhaps "slight of hand" is your only option.  Focus on quality and service.  Bonus Note:  The overall global pet market sales in 2010 was $80 billion up 4.4% over 2009.  You here yet?

Consumers, Local News & Your Business

When asked how consumers get local news most will say they view it on local television stations.  But, when you break that question down most consumers are talking about...weather, traffic & breaking news.  That's the finding of the recent Pew Internet & American Life Project and Knight Foundation study detailed here from our friends at Search Engine Land.  There is loads of valuable information here...loads.  Your Tip:  If you own a local business or a restaurant pay attention to your website and how likely you are to be found and be seen.  It's twice as important as "word of mouth".  Seriously...

No, Facebook Isn't Charging a Fee...

Here we go again.  It seems like every time there is a Facebook change (This time it's about Profile Pages) some folks start circulating rumors that FB is going to "start charging a fee for use".  False. Here, along with a review of the Profile Changes coming to Facebook, is a report from our friends at Mashable.  Go ahead...enjoy.

It's Always...There

Here is an interesting statistic:  I have not done a live webcast for Insight on Business New Hour since June.  Yet in the past thirty-days one or more of my webcasts on business have been downloaded 7,250 times.  Why should you care?  I think there are two points to be made:  1)  What you put on the Internet stays here for a very long period of time and when people are searching for a particular idea/topic your ideas continue to show up.  You might call it..."sticky".  2)  Using the Internet to boost your brand is critical.  One of the draws to webcasting is the same as video...it moves, it talks and (when live) you can interact.  Even if it's not live you can still interact by posting comments or questions long after the original "broadcast".  Interesting...no?

Thanks and Connections

Thanks for coming by for a few moment.  A reminder that Insight on Business won't publish this Thursday and Friday...we're out for a couple of days.  If you would like to connect you may leave a comment here or on Twitter it's @MichaelLibbie (personal and business) or @InsightADV (all business).  Our advertising agency Facebook Page is right here...if you would rather.  Friends...get this first each morning.  Thanks again and have a great Monday! - Michael 

 

 

 

 

 

 

Comments

[Raela Drigger]

In my opinion, animal food companies should come up with improved marketing strategies to make their products appealing enough that consumers wouldn't mind the price tag. Local businesses, on the other hand, should make use of social media to reel in more customers and buyers.

[Michael Libbie]

Raela - The marketing of pet foods has led the "humanization" of pets. We see it all over...and social media is...you are right...a fantastic tool for business. Sadly, many local business owners fail to use it correctly. Thanks for the input and for reading! - Michael