June 2009 Newsletter
Increasing Sales in a Down Economy
Article by: Kim Ramser, DOmedia Business Development & Industry Relations
Is this an economic downtime for your company? Despite what you hear in the news, not every business is hurting—some are even thriving! The news definitely paints a bleak picture, but that does not mean you have to paint one. Many salespeople haven’t had experience selling in such a down time, and may get easily frustrated. But don’t give up, there’s hope yet. By focusing on the positive, getting creative, and knowing your customers, you can still achieve your business goals in spite of a tighter economy.
Maintain a positive attitude.
Like the inspirational posters say, “Attitude is a little thing that makes a big difference.” It’s certainly easier to give in to the doom-and-gloom being dished out on the evening news, but that won’t help you build your business. While it’s important to be realistic about the economic environment, it’s equally important to realize that not everyone is pulling back right now. Many industries do well in an economic downturn. In fact, according to a 2009 ANA Survey of Media Buyers, 67% of buyers surveyed will hold at their advertising spending at the current level or increase it slightly this year.
For those customers who are feeling anxious about spending right now, let them know this is the best time to advertise (what a great time for brand switching!). If their competition is decreasing their ad budgets, there’s no better time to gain share of voice, and consequentially, market share. Try not to fall into the trap of thinking ”customers are not buying, so why try?” Remember, every business is different.
Focus on Your Customers
Customers want to avoid risk in good times, but even more so when the times aren’t so good. Your customers may have many procedural adjustments taking place, so be aware of changes they might be experiencing. Some of them may have a sharper eye during these times, and need to justify their decisions with hard returns. Help them through this critical decision-making process with the numbers they need to back up their recommendations.
Clients may also have longer sales cycles or heightened accountabilities. Some might start requiring more bids on products and services they routinely buy from the same supplier. Others may be requiring additional financing options. And when it comes to budgets, view them more as guidelines--they may have been approved when the year started, but now need to be re-approved.
Take the time to listen to your customers. Let them tell you what’s going on in their world. Then, use that information to determine how you can help.
You know the old saying, “necessity is the mother of invention?” Well, this is a great time to put that adage to work. Now’s not the time for standard procedures, it is time to re-evaluate, re-work, and improve.
Ask yourself the following: What can you do today to make the sale? What is your customer looking for? Has it changed? Look at your company’s messaging. Does it need to be revamped? Should you change your sales strategy? Be honest with your answers and then determine next steps.
Double up on cold calling. This one is just the law of numbers. If you convert 5% of all calls, then as you make more calls, you create more clients. This is also a great time to promote new products, ask questions that will make your customers open up about what internal processes might be changing, and find out any external changes in their branding messages and objectives. A little creativity can go a long way.
Find a way to become a partner for your customers. Let them know you have a vested interest in their business. You want them to succeed. Your customers are trying to do three things—decrease cost, increase sales and improve service. How can you help them achieve their goals without getting cut out? Look at newly available inventory from other cut backs or cancellations. What types of programs could you put together to really target their core audience? Put yourself in a position to help them out. They will remember it later.
Research recession-proof industries and businesses that target mid- to low-income audiences. Numerous industries have cancelled tradeshows this year, but many of the companies still budgeted for them. Work with your clients to find budgeted dollars that may be re-allocated. Help them find co-op dollars from manufacturers and franchises that may have been overlooked.
Don’t make the mistake of overlooking the non-customer audience. Look at the customers who may have given you business three to five years ago, but no longer use your services. During that time, many changes may have occurred in personnel, branding strategy and products or services offered. It could be a whole new ballpark at this point.
Sources: Outdoor Advertising Association; SalesRoundup.com
What's New @ DO
DOmedia Nabs Former Microsoft Exec as Chairman
One of the most promising new media exchanges, DOmedia, recently recruited Jeff Bell..." -Erik Sass, MediaPost
As many of you probably noticed in the news the past month, DOmedia recently welcomed its newest all-star, Jeff Bell, as company chairman. With the announcement appearing in publications like AdAge.com, The New York Times, and MediaPost, the newest addition to the DO team is already creating quite a buzz in the advertising world!
With more than 20 years of experience, Jeff joins us from some of the best-known brands in the industry. His passion for innovation, which has led to many award-winning campaigns in the past, is causing a lot of excitement within the DO family. After all, Jeff will guide the overall strategic direction of the company in his new role setting the stage for our continued success.
DOmedia co-founder and former chairman, Rich Langdale, will continue to play an active role with us through his position with NCT Ventures—our primary investor. In a recent press announcement, Rich said it best, “We are very fortunate to have a seasoned industry veteran like Jeff Bell at the helm of our company. Jeff’s unparalleled experience and knowledge of the industry combined with his passion for innovation will serve DOmedia well as we set out to streamline the way that buyers and sellers of alternative and out-of-home media connect.”
And now for the most exciting part: the impressive experience Jeff brings to the table. In his most recent position, he served as the Corporate Vice President of Global Marketing for the Interactive Entertainment Business (say that one ten times fast) at a little business you may have heard of called Microsoft. During his time with the company, Jeff led Xbox to its first profitable year and managed the marketing team that expanded the Xbox LIVE community from 4 million members to over 15 million!
But the big names don’t stop there. Before joining Microsoft, Jeff helped revitalize the automotive industry by returning Dodge, Jeff, and Chrysler to profitability in one heck of a turnaround from 2000 to 2006. Serving as Corporate Vice President at DaimlerChrysler, he led recognizable campaigns such as Chrysler’s “Inspiration Comes Standard,” Dodge’s “That Thang Gotta Hemi,” and “Jeep Trail-Rated.”
Advertising Age named Jeff Interactive Marketer of the Year in 2005, Entertainment Marketer of the Year in 2007, and one of the Marketing’s Top 50 in 2008. He earned his bachelor’s degree in history and Spanish from Kenyon College, his master’s degree in international economics from Johns Hopkins University, and his MBA from the University of Pennsylvania.
Because DOmedia is built on passion for innovation, creativity and leadership in the industry, Jeff Bell is a perfect fit within the company that so closely mirrors his own personal attributes. Welcome aboard!back to top »
GoMobile’s Experiential Campaign Launches Miller Chill with a Twist
“Cheers” to GoMobile Advertising for their innovative mobile campaign introducing the Caribbean-inspired new light beer, Miller Chill, to the public. GoMobile Advertising (GMA), a nationally-recognized experiential advertising company, literally puts the pedal to the metal for its campaigns. As a fun alternative to traditional marketing, GMA’s specially designed billboard trucks have been shaking up the industry with their on-the-go messages.
Last summer, GoMobile transformed two of their billboard vehicles into Cuban-style beach lounges, complete with an invigorating fusion of rhythmic Cuban music. With the goal of introducing Miller’s new salt-and-lime infused beverage to the Portland and Seattle markets, the portable nightclubs featuring palm trees, sandy beaches, sun umbrellas, standing bars, thatched roofing, patio lighting and buckets of ice-cold Miller Chill were visible through the vehicles’ transparent walls. To help familiarize onlookers with Miller’s new product, the portable nightclubs also displayed two informational scrolling billboards while models passed out product information and Chill-branded premiums to the over-21 crowd. Working with local media partners, GMA’s inviting campaign on wheels created plenty of sizzle and media coverage, while driving measurable results for the client.
GMA’s innovative creative design and well-orchestrated execution earned the company a host of honors, including both a coveted EX Award (presented by Event Marketer magazine) and a regional Gold ADDY® Award, presented by the American Advertising Federation. This win qualifies GMA for the National ADDY Awards competition where they will compete in what is arguably one of the world’s most discriminating advertising competitions. Winners will be announced as part of the 2009 AAF National Convention next month.
DOmedia congratulates GoMobile Advertising on their success to date and looks forward to their next exciting street-level mobile campaign!back to top »
In the DOspotlight
In today’s world where commercials and advertisements appear nearly everywhere you look, how can a brand stand out and connect with consumers? The solution is simple: engage your target audience. Reactive, the out-of-home digital signage company, is built entirely on the concept of audience engagement.
Reactive uses motion and interactive technology to turn a regular storefront window into a large-format digital display. These customized displays are not only interactive, but also incorporate photos, audio, and video for the ultimate brand experience. The best part: because they’re digital, content can be changed at the drop of a hat, allowing advertisers to see quickly and easily what is working . . . and what isn’t.
Reactive works off four essential elements: Motion, Touch, Media and Technology. When combined, these four elements provide the foundation for an engaging, informative and flexible campaign, giving clients the biggest bang for their buck. And it’s easy! With just one finger, customers can access information, promotions, search for listings, and learn more about the company behind the promotion. It doesn’t get easier than that.
Using their Consumer Marketing Systems (CMS), Reactive is able to measure campaign performance, providing clients with real-time results. Armed with this valuable data, advertisers can choose to change content or develop new messages on the fly if need be.
As the out-of-home ad space continues to grow and evolve, it is vital for companies to stay on top of changing demands. That’s where Reactive comes in: “Part of our job is to continually search for new, innovative ways you can engage and impress your customers. It’s simple. If you don’t keep up with new media, your market will leave you behind.”
To learn more about Reactive, click here.back to top »
Tip of the Month
Here at DOmedia, we want to help you make the most of your media listings on our site. One way we’re doing that is by letting you in on a useful tip or trick every month, making your DOmedia experience as beneficial as we can. Have a question you’d like to see answered in the next month’s edition? Email us at email@example.com or call us at 866.939.3663.
DO More: Complete Your Account Info
So, you’ve registered on domedia.com and created an account. Now what? The DO Marketplace is only beneficial if it contains the most accurate information possible. So before you can add your company’s inventory to our system, you must complete your account profile. But no worries…it’s a quick and painless procedure.
Once you’ve logged in to the site (domedia.com), click your name in the upper right-hand corner, which will take you to your Account Settings page. Simply fill in the blanks as thoroughly as possible, paying special attention to the address and telephone number fields (which are required before you can enter your inventory). You can also add or update your company logo, description and industry affiliations from this same page. Keeping your information up-to-date makes it easier for interested buyers to learn more about your company and contact you.
Need help? Or maybe you just have a quick question. The DO team is always standing by and ready to help! Give us a call at 866.939.3663.
Recap of Last Month
What? You Missed the Last Issue?
It’s Okay, Here’s The Recap!
In last month’s newsletter, DOmedia highlighted a recent trend in the advertising world: cause-based marketing. In these tough times, it’s nice to see large corporations lending a helping hand to those who need it most.
What’s new at DO? Well, how much time do you have? Last month, we brought readers up-to-speed on recent changes and improvements here at DOmedia . . . possibly making the better question, “What isn’t new?”
Speaking of new, we highlighted an innovative campaign for Remy Martin that used a unique digital interactive billboard to promote upcoming parties. An equally impressive company featured in the last issue is the in-tunnel advertising firm, Submedia, who brings entertainment to the world’s subway systems.
To read the full May newsletter, click here.