BETTER MARKETING FOR BETTER BUSINESS

Sharing our thoughts on the world of today's media.

Advertising

FOMO: A Real Psychological Feeling and a Marketing Tactic

Have you ever seen a long line of people outside of a store, or a huddle of people in public and wondered if you were missing out on something? Our inclination is to find out what is so exciting and possibly join in if it is worth it. This fear of missing out, or ‘FOMO’ is a psychological experience which can create anxious feelings within a person, and it convinces them they might be missing out something that everyone else is doing/eating/buying/attending, etc. The four-letter acronym attempts to describe why people make certain choices because they psychologically think the people around them might have better life experiences. So, is FOMO real and can it be applied to marketing? Let’s look at the statistics!

The FOMO sensation has been around a very long time but has increased dramatically since the internet has allowed us to see what anyone in the world is up to at a given moment. Statistics show 69 percent of millennials are afraid they may miss out on something if they don’t keep in touch with social media. That’s almost every seven out of ten millennials! Even if a business’ target market is not millennials, the internet has allowed information and photos to be posted, sent and received at a rapid pace, allowing anyone to see the interests and activities of the people in their network in a given moment. On Facebook, timelines show us “Susie Q. and 4 others like ____ detergent” or “Brandon T. and 45 others like this photo.” As a brand, FOMO can be leveraged by marketing to the Facebook friends of consumers who already like our page. On Instagram, we can show ads to profiles similar to those of our followers. The internet creates a way for the everyday consumer to share their new jobs, new pets, favorite restaurants, and any other detail they want to share, and we check these social media and other internet outlets to learn what is out there.  If enough people in Johnny’s social network post about the new ice cream place down the street, Johnny is going to be influenced positively or negatively as to whether he should go there.

FOMO can also be used in marketing by sharing photos, videos, or reviews of other satisfied customers who have already used the service or purchased the product. In a restaurant study, menus which stated an item was “the most popular dish” had a 20 to 30 percent increase in sales compared to other items on the menu. Hotels found when they put up a sign which said “75 percent of people reuse their bathroom towels”, 30% more people reused their towel. Also, 68% of people trust the opinions and reviews of others online when looking to make a purchase.

The statistics don’t lie… FOMO is affecting our culture and buying habits. As the FOMO epidemic continues to grow through the power of the internet and social media, it is possible to channel this energy to help your business in a positive way. Social media, advertising, and great reviews are just a few ways to leverage FOMO in marketing. How will you use FOMO?

References:

https://sleeknote.com/blog/fomo-marketing

https://squarelovin.com/blog/social-proof-ecommerce-en

https://eventbrite-s3.s3.amazonaws.com/marketing/Millennials_Research/Gen_PR_Final.pdf

Bring Back the Phone Books

We’ll let you decide on this, but for many local businesses, the phone book used to be something they depended on to bring in new customers every year. We see in our data, there are still business types in specific markets where the phone book still brings in a substantial number of new customers and sales. To some, the phone book is dead, and to others, the phone book still brings a respectable return on the investment.

Phone Books

The quote “Give me the phonebooks back” was said by one of our clients this past month. And this opened some discussion amongst our team on the value and simplicity the phone books have or did have. The businesses which advertised heavily consistently had great tracking and could tell the value it was bringing their business. For some, it was just the fear of not being there which kept them advertising in the phone book.

When we dug deeper to understand this specific client, it was interesting to hear his thoughts. And to some degree, it encompassed the simplicity. Think about it, buy an ad in the phone book and it’s there for the year. You know what it is or is not going to do for your business, and after you signed the contract, you didn’t think much of it until the following year. You could think about it, but you couldn’t change the ad until the next publication.

The internet, on the other hand, may be the exact antithesis of the phone book. Most experts know and study the changes made by Google or other search engines/platforms on a regular basis. For business owners and marketing people, staying up on these changes requires time and there are many different opinions on the best way to win at marketing on the internet. Of course, different for each market and business type. The aforementioned client knows this, and he has his team check regularly where his business is being found online. What page and what position for different search terms are things they look at, as well as the performance of many different online advertising platforms.

No matter how many years the phone books have left in their existence, the internet is the new place people look to go when they are looking for a service or product. And who knows? Maybe our smartphones will become obsolete as well. Being replaced by the likes and/or next generation of what we know today as “Hey Siri,” “Alexa,” or “Hey Google,” and the wave of AI which is here today and growing every day. “Hey, Google – I need a plumber to come out to the house today to repair a leaky faucet,” will be followed with something like, “There are three choices near you, all with a 4.0-star rating or higher. I can connect you to the first one, XYZ plumbing company, which has been in business since 1991 if you would like.”

The future may be closer than we think.

Programmatic Advertising. What is it?

Online Media Buying

You may have heard terms like “Programmatic Advertising” thrown around more and more recently. It has become commonplace for businesses of all sizes to include in their marketing plan. Yet many business owners don’t understand what that means. We understand people are hesitant to try something new, especially if they’re not truly grasping the concept. Let’s talk about Programmatic Advertising so we can all have a better understanding of what it is and what value it may bring to different businesses.

 

Over the past few years, display and video advertising have grown exponentially. We are seeing local businesses slowly start making an entry into this new media, as more and more companies are working with them to help get their feet in the door. Many of the opportunities for using digital and video advertising is only available through Programmatic Advertising. The understanding of the term Programmatic Advertising is not important, however with the term being thrown around so much, it is good as a marketer to understand in principle, the concept, and definition.

 

Programmatic Advertising, in a nutshell, is a computerized purchase of ads on the internet, as opposed to the traditional negotiations of ad contracts (human to human) which are typically much simpler. Programmatic Advertising uses an algorithm (a detailed step-by-step instruction, or formula, for solving a problem or completing a task) to purchase online ad space for lots of competing businesses, in real time, typically with the goal of placing each in the best spots that make the most sense for that business. It is one of the best ways to purchase digital and video advertising for local businesses, at the best cost. For many businesses, it’s the only way.

 

Let’s say you want to advertise your local business with a billboard. The buying process here is relatively easy: find the available billboards, develop your message, and complete the paperwork. This might include meeting with several billboard companies and negotiating the best value for the money.  Now, let’s say you want to show up on digital ad space. It’s more difficult to buy ads showing on specific websites or even be competitive in pricing compared to national brands.

 

Programmatic Advertising solves this problem in the digital world and actually does it better than traditional agreements could manage. It is a good way to target a much more specific market or audience, increasing accuracy and minimizing wasted money.

 

It’s understood with a billboard, approximately half of the people seeing the billboard may be a potential client. So, if you’re selling flooring then your target audience would be homeowners. In 2018 only 64% of the population owned homes, which means your billboard may be targeting up to 36% of people who are not your potential customer. This would be a great example of wasted money. With Programmatic Advertising, you can have your ads targeted to people who own homes at a much higher level by focusing on data which is available about each user (on their computer or phone), such as their search habits or website usage.

 

Though you could purchase digital and video ads from your local newspaper or television station, this is typically less targeted to your desired demographic, and the price (in our own findings) is often higher than general Programmatic Advertising costs. This may differ by region or if bundled with other products/advertising. Print newspaper and digital ads may confuse the price conversation, making it unclear as to the real value of the product on its own. They may sell you space only in their online newspaper or television station, but as soon as they start showing ads in other places, they too are buying into the concept of Programmatic Advertising.

Evaluating Media Choices

Media Choices

Do you ever feel overwhelmed with all the media choices available at your fingertips? How do I know which channel will be the most “effective”, will I reach the right target audience? If so, is it enough to offset the costs of the marketing campaign. The answer is maybe. There is no right or wrong answer in marketing, it is about research, trial, error and… more research.

Media Choices - Beaverton Oregon

 

Media Options

Because different media are effective for different purposes, it is important to research which media form will truly target your audience market. In recent years we have seen a shift from newspaper, magazine, radio, and billboard advertising to digital ads. Now, this is not a reason to think digital advertising is the way to go. As a small business owner, it may be more beneficial to advertise in your local newspaper, magazine, or radio. For an advertising campaign to be effective, it needs to reach the right target audience, your audience could be a daily city commuter who passes by a billboard multiple times a day or someone who enjoys reading the newspaper instead of surfing the internet.  Media sources should be selected based on your audience’s preferences to maximize your marketing investment.

Nevertheless, with media buying, there will be a “waste factor.” The key is to minimize the waste factor, meaning the percentage of the marketing which is not your intended market. For example, a newspaper ad can have 20,000 impressions but not everyone reading the newspaper may be a potential customer (Maybe you have a pool company and certainly there will be some people who don’t own a pool who reads the newspaper.) If the target reach is 50%, then the real value of advertising in the newspaper is 10,000 impressions. Understanding real value is as important as knowing the full reach a specific media may tout.

 

Budget

While choosing a media outlet, keep your budget in mind. If you have a substantial advertising budget, allocating your budget across different media platforms can be beneficial. If you are a smaller business, be mindful of your budget and compare prices. Looking to advertise in a newspaper? Call and research multiple newspapers, and don’t be afraid to negotiate fair prices to display your media! This is certainly an area where we may be able to help with.

 

Media Evaluation

Whichever media outlet you select, create a plan that will measure the success of the campaign. Disappointed in the results? That’s ok! Keep researching and improving the campaign, if it isn’t yielding the results you want, try another form of media. Measuring data will tell you what can be improved and what you should continue to market. Let us know, what media form is most effective for your business?

What is a Social Influencer?

Social Influencer

Have you ever thought about reaching out to a local celebrity or well-known figure to market your small business? Radio DJs and local sports legends are popular figures for such advertising and have traditionally been used for radio spots or TV commercials. David Robinson, the former basketball player for the San Antonio Spurs, for example, does TV commercials for several local companies in the San Antonio area these days.

Over the past few years, however, influencers on popular social media platforms have been an important marketing tool to reach young audiences around a huge variety of products and services. Endorsements by celebrities are nothing new, but more recently, sponsorships paid for by advertisers have branched out to include popular Instagram accounts, bloggers, and You-Tube stars. News anchors, local food stars, and retired athletes are some popular sources for local businesses to reach out to for influencer marketing.

 

 

How Can an Influencer Benefit My Small Business?

Depending on your business type, reaching out to a local influencer could be beneficial. For instance, if you sell garden supplies in the greater Portland-metro area, being featured on An Oregon Cottage could be a great way to put your brand in front of your ideal consumer. Your products would be exposed to a relevant customer base, coming from a personality that is a trusted resource in the Oregon gardening community.

What is an Endorsement?

Conversely, influencer endorsements affect a very particular audience and are sometimes seen as more trustworthy in the eyes of their followers. Influencers are a part of a niche community and are looked to often as experts that have open dialogues with their followers. Social influencers are usually approachable (they are generally more responsive to comments and messages than celebrities who are sponsored for a campaign) and are considered more authentic compared to celebrity-driven marketing campaigns. Here’s an example of the top social influencer on Instagram for 2018, so far (according to CBS News): Huda Kattan.

Using social influencers responsibly could be a creative way to reach new customers, both on a national and local scale. What are your thoughts on this new, socially-oriented trend?

Social Networking

Are You Socially Acceptable?

Facebook, Instagram, LinkedIn, Snapchat, YouTube, etc. etc. etc. It seems as if every day there is a new social media platform taking the world by storm. As an advertiser, it can be intimidating to try and stay up to date with how to best reach your target audience on these social networks, since we understand the importance of having a digital presence. But each social network serves a different demographic – which networks are right for your line of business? Let’s compare and contrast a few.

2017-12 Social Networks
Facebook. With over 1 billion daily active users, it seems like a no-brainer you’d want your business to reach even a fraction of these users. However, it’s important to understand who uses Facebook. SproutSocial says 88% of people aged 18-29 are on the social network and they are on for an average of 35 minutes per day. But it’s actually those who are 29+ who provide the most engagement. Also, people are using Facebook more and more to seek food, travel, and entertainment recommendations.
So, which businesses do best on Facebook? Primarily B2C businesses. More specifically, retailers with specific products and sales which can produce measurable ROI. Businesses that are B2B or are service based, such as a plumber or insurance agency may not see the same results as a retail business. However, this is not to say other businesses should not be on Facebook. Having a page which is regularly updated with content builds credibility for your brand and helps stay engaged with the local community (for example, posting events happening around the area). Overall, Facebook’s capability to reach so many qualifies it as a resource worth looking into.

 

Instagram. Another huge social media network, with over 800 million monthly active users, that’s focused on photo and video. But is it worth the time, energy or money to have an account for your brand? It may be.
A staggering 59% of all Instagram users are under the age of 30. This means if your line of business is geared towards anyone over the age of 30, which includes a wide range of fields, Instagram may not be worth spending the time on at this day and age. However, if you are able to create a photo or video campaign that is engaging, Instagram may be a great decision for branding and directional marketing. Additionally, Instagram allows users to click and purchase items in the app, which is beneficial for retail companies who are selling items, rather than services. If you’re a B2C company, Instagram can help too. A design firm could use Instagram as their digital portfolio.

 

LinkedIn. Plain and simple, LinkedIn is for B2B marketers. Whether companies are posting updates about acquisitions, finances, or are hiring, users are active on LinkedIn to make moves professionally, and not to make consumerist decisions. LinkedIn is also used to stay connected to current and previous colleagues, industry resources, and business contacts. About 61% of LinkedIn users are between 30 and 64, and they are established in their careers, are married, homeowners, have college degrees, and have the most amount of buying power. Professional in nature, decision makers are seeking the next best thing – personally and professionally – and are the target demographic for your life insurance policies or litigation services.
Before you make any marketing decisions regarding social media, you want to identify your target market and advertising strategy and consider which social media network most closely aligns with that market. Social media is not the end-all-be-all, but if you don’t utilize it, what else are you doing to be seen by your target market?

How Video has Changed Digital Advertising

What’s the next big thing?

Ever since the age of smartphones began, photo and video have taken the digital advertising space by storm. Within the past 5 years, we have seen Instagram, Vine, and Snapchat rise in popularity, and with the exception of Vine, the visual platforms are thriving. But how important is video marketing to your business? Well, let’s look at the stats.

  • According to Social Media Today, Facebook produces an average of 8 billion video views a day.
  • Every day, 55% of people watch videos online. (Source: Digital Information World)
  • Popular marketing tool Hubspot says 64% of internet users are more likely to buy a product online after watching a video.

Video Marketing

The statistics go on and on.

Do you know how to best utilize video? Video Brewery says that 20% of viewers will click away within 10 seconds of the video starting. Just like an attention getter in an essay or novel, the beginning of your video needs to convince the consumer to keep watching. Videos need to connect with the audience it is being targeted to. With today’s technology, the cost of creating a video has decreased dramatically and it doesn’t take much to get started.

Now that Instagram and Facebook have launched ‘live’ features, you can captivate your customer base by simply having a smartphone with a camera. Recent iPhone video quality is high enough, where by the quick press of ‘record’ you can provide current and potential customers a tour of your location, a how-to video on how to use one of your products, insider tips and tricks, or a live question and answer session. Any of these ideas can be done in-house without any sort of professional equipment. And, it keeps your social media followers engaged and interested in what’s new around your business.

As you look down the road to what the future holds for your business’ marketing strategy, video advertising certainly should be on the list of things to consider. For now, at the very least, it should start the conversation about how you and your business will be a part of this next generation of advertising.

Organic Search Ranking and Credibility to the Consumer

What are your customers searching?

“Brunch restaurants nearby”

“Breakfast food near me”

“Where’s the best brunch in Portland?”

Nowadays, search engines seem to solve all life’s hardest questions. And, if your business has a website, you obviously want your website to land at the top of the first page when a potential customer searches for what you do. But oftentimes, business owners don’t fully understand search engine optimization or how to improve their rankings to give them the best chance to be on the first page.

Organic Search Ranking

Statistics show that internet users search more than 3.5 billion queries every day. For your website to be the top results, a combination of attributes need to be in your favor. Everything from page headings, loading speed, mobile optimization, html codes, and many other factors play a part in how soon a consumer will see your brand’s website in their search results. Because of this, it’s important to fully understand how best to create your website and enhance your content for optimal results, or have someone on your team who does.

Another way to improve your search ranking is to have customer reviews. A recent survey reported that 73% of consumers trust a local business more when they have positive reviews. Also, a consumer will read a minimum of 7 reviews before they trust a business. So, the more Yelp, Facebook, and Google reviews you have, the more relevant your business becomes to the specific search. You will increase your chances on being on the first page simply for having more reviews.

An example of the significance of reviews could be making a purchase on Amazon. The average consumer is more likely to buy a new bike from a business with 70 positive reviews than a business with 1 or 2 reviews total. Reviews provide credibility and depth to a business. Finding an effective way to promote your customers to leave good feedback on line is an important part of business today.

The next time you’re doing a Google search, notice what factors you consider when selecting a search result for a local business. Understanding how you (or others you know,) search and make “buying decisions” is important in understanding the importance of getting to the first page on the search engines.

Why One Size Fits All Doesn’t Work

Our Team’s Perspective

Have you ever completed a puzzle? The feeling of snapping the last piece in place is a sigh of relief. But imagine getting down to the last couple pieces, and realizing they were lost along the way? That is exactly how it sounds to me when a business owner has an epiphany about the importance of active marketing. They either don’t have any marketing, or there is no way of measuring the effectiveness of their current marketing. That’s where Louvre Media fits into your custom business puzzle.

Man and woman hands trying to connect puzzle pieces

All puzzles are different in the same way no two businesses are the same. Marketing needs to be customized, defined, designed, delivered, and cultivated. For small and medium sized businesses, the one-size-fits all model doesn’t work, and automation becomes a hindrance rather than a perk.

Go sit down with any marketing agency about your small business’s marketing needs and they will say, “Okay, we have three packages – Package A has this, Package B has the same thing but it’s better, and Package C is our premium package which actually has what you need and is wildly overpriced for that reason.” They probably won’t say the last part there, but most likely it’s true. If they do have a package that works for your business, it probably includes tools that you won’t even use. At Louvre Media, we offer the whole package.

The whole package is designed for you, knowing that your business is unique and has different needs when compared with any other business. Even franchises are different from each other, believe it or not. My favorite part about meeting a new potential client is that I know, no matter what their needs are, I can come up with a solution and a plan that works with their goals in mind. Have a small budget? I can work with that. Don’t know what marketing is, but know you need it? Great! I can get the ball rolling to help your business compete with the big guys. I’ve bought billboards, magazine ads, newspaper flyers, and done countless newsletters, social posts, and so much more. We always say, “if we don’t do it already, we’ll learn how for our clients.”

I’ve been with Louvre Media for more than a year now and I can’t wait to keep learning! Work is a place I love to be now. Every day brings new challenges and fun ways for me help businesses grow and build a foundation. I can easily recommend Louvre Media’s marketing to any business owner because I know that it works and that I have a great team to back me up. We’re the whole package!

~ by Superstar Account Manager Adelaide

Getting the Most out of our Day

Prioritizing Made Easy (Easier)

As leaders, many of us wonder how some people get so much done, while we are still under a desk load of things needing to be accomplished and never seem to catch up. If any of this sounds familiar, you have either mastered the skill of time management or you are wondering if this is a skill you will ever achieve. Hey, the new year is just around the corner, so now may be a good time to look at this skill. The good news is this can always get better and a little focus could go a long ways.

Steven Covey, well known speaker and author, in his book “The 7 Habits of Highly Effective People,” covers his even habits. Habit number three focuses on this – Put First Things First. It is so important, he even has a book specifically on this topic, “First Things First.” Time management is a skill for life, not just work, that carries a great amount of weight to it. Those with great time management skills can attest, when

The Big Rock – Little Rock concept is not necessarily new. For those visual learners, it is a great tool to help see the bigger picture in time management. Too often some may get caught up in the little things (which may or may not need to be done,) – for different reasons. As leaders, by focusing on the “Big Rocks” sometimes the “Little Rocks” will take care of themselves. If you have a team you work with, consider doing the Big Rock – Little demonstration with them to help them better understand the importance of prioritizing their day/week and the value which comes with this type of short and long term planning.