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October 2014
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Is Politics Good For Business?

Open Numbers 27 Oct 2014Let me be clear, not just business but marketing your product or service via email marketing.  Here is the set up:

Each week we send out an email newsletter with the guest list for our daily business broadcast, Insight on Business the News Hour. (You can take a peek at it here if you wish.)  The system we use, Emma, gives us feedback on how our email newsletter ranks against others using a ten-point scale.  The image here is the response from our October 27th send where it was opened by about 29 percent of the people to whom it was sent.  Now, remember, this is just before the election in November.

This past week we sent out our weekly newsletter and this image is from Open Numbers 25 Nov 2014that mailing.  About 33 percent of the people opened the newsletter and, as you can see the ranking moved from 7.2 to 8.4.

Our take from this?  During the election cycle, and shortly after, there is so much "in-box-email-fatigue" that many folks simply delete, delete, delete.

And, that...if you are marketing using email...is bad for business.  In fact, we'll go out on a limb and suggest that nearly any and all advertising/marketing done during the election cycle is bad for business because so many consumers are...tired.

So, what to do?  That's a great question for you to answer.  Got a tip?

We've got several suggestions but open to what you might think.  Go!

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Oh Those Banner Ads

We're not fans of banner ads mostly because the actual click through rate is lousy and, for the most part, banner ads are major distractions.  And, now Error 404 that some outlets are focusing on "pop-up" banner ads it's really distracting.

However, they are revenue.  And, for folks who create, sell, and push banner advertising we understand.

Our recommendation is that unless the media company is GIVING you the banner ad to make the sale.  Forget about it.  Here's why:

There are better ways to getting consumers to notice your product or service:

  • Engagement - Advertising/Marketing takes work. Simply buying an ad (any ad) can be a waste of time and money if you don't have the engagement behind the advertising.  Talk to your customers...more;
  • Video - When we look at click through rates (CTR) for banner ads it comes in at about 0.11 %. However when you look at the CTR for mobile video a staggering 11.8 %.
  • Native Advertising - This is organic marketing that simply engages the consumer and feels "natural" in the digital stream. We like a bunch and when combined with video...it rocks.

Basic to all of this is that you must know to whom you are marketing. If you know your consumer you can drive more in that direction.  And, in this case if you are selling a specific into a specific market perhaps banner ads will work.  Know thy customer!

Here's a link to the Click Through Rates in Digital Advertising.

Thanks for reading!

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Don't Marry Them!!!

So, should you link your Facebook Page to your Twitter account so each Man Woman Wedding Cake time you post something on Facebook it hits your Twitter Stream.

PLEASE...NO!

We're not purists, but while Facebook and Twitter are both social media channels they are different beasts. In our experience Twitter is more about quick thoughts, news, pushing a blog post, responding to other feeds and learning.  Facebook is, for us, so much more social, friend to friend and...limited.

On Facebook you can ramble on about your thoughts, photos, experiences but on Twitter you've got 140 characters and that means you have to be succinct. 

We think your posts should be separate.  When we're watching the Twitter Stream and a FB Post hits...you know that we know...right?  And a third of the way through your thought you ask us to head to your FB page.

Better that you create your Facebook Post and then distill your thoughts for Twitter. Besides, and we hate to say it...linking up your FB and Twitter Streams...is sorta...lazy.

Succinct?

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"Our bad!"

Recently I was at an annual meeting for a professional group and the CEO, during a Man Cut Expensesreview of the past year's efforts, said, "Several years ago we made the decision, in a cost cutting move, to reduce and finally eliminate our marketing budget. The result has been a loss of recognition among consumers. Our bad!"

I get it.  Times were tough.  The recession hit us all and often the first, but the wrong, budget item to cut was...marketing.

Had this group been our client we would have told them what we told our clients during this time, "Whatever you do, please, do not reduce the amount of  money you are spending on R&D or on marketing.  Why? Because you will, and I promise, you will grow business and steal market share from others."

And, I was right.  The clients who listened had eight to ten percent growth each of those rough three years.

For the companies who cut R&D and Marketing they now face an uphill battle.  Their budget does not reflect a line item for marketing and now, just to "catch up" they are going to have to spend...plenty.

Sometimes "stay the course" isn't in the best interest of business. But, history has shown us, time after time, that during rough economic times those companies that continue to be agressive in their marketing...grow and yes, steal market share.

Just a reminder....

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