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Tuesday, March 18, 2008
Turnkey Ad Ideas For Small Business
When Internet entrepreneurs Nick Grouf and David Waxman decided to launch an advertising agency targeting small businesses, they knew the Internet was the perfect place to launch their company. SpotRunner was founded on the idea that the Internet could help make television advertising more affordable and accessible for local businesses and thus put them on a level playing field with larger competitors.
Today, the company focuses on automating many of the more inefficient aspects of the advertising process and creating turnkey ways for businesses of all sizes to access high-quality creative and expert media planning and buying services, said Waxman.
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Price Objections, Benchmarks and Brands
OBJECTION OVERRULED: Ad reps can’t really overcome price objections when they are selling ads, according to Lee Salz, author of The Secret of Overcoming Price Objection. That is because it isn’t intended to be overcome. It is meant to be resolved through thought facilitation by a sales person. The sales person’s role is to help the prospect work through the price concern as opposed to attempting to overcome it. The mistake many sales people make is that they think they understand the client’s concern when the price issue is initially raised. If the salesman doesn’t know what is causing the price concern, they can’t possibly help the client work through it.
BENCHMARK’S THE SPOT: Benchmarking is a great way to see how a company compares to its competition, according to The Sales Alliance. Sales benchmarking can be used to answer questions such as: Are we hiring the right type of salespeople? How do our compensation plans compare with other firms’ plans? Does our sales process maximize revenues and customer contact time? How do our sales and channel structures compare to other firms’? What skills and tools can help significantly improve our sales performance? Are we using the best-possible sales management techniques?
PERSONAL BRAND: Branding a business is crucial to success, so it’s little wonder that experts urge salespeople to brand themselves as well. According to Irina Gorodetskaya, a blogger for the Association of National Advertisers, in this increasingly competitive marketplace, personal branding is just as important as corporate and product branding. Personal branding does not mean the shameless self-promoting, Gorodetskaya says. Rather, it means being able to clearly communicate a unique promise of value that a salesperson has to offer. What is the secret formula of successful branding? According to Kirsten Dixon and William Arruda’s Career Distinction: Stand Out By Building Your Brand, the three C’s to remember are clarity,
consistency and constancy.
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The global advertising market grew to just over $600 billion in 2007, according to The Kelsey Group, a research firm specializing in data and strategic analysis on directional and interactive local media. The firm expects global ad revenues to grow at a compound annual growth rate of 2.7% and reach US$707 billion in 2012, propelled in large part by considerable growth in the interactive segment. “The Kelsey Group’s Annual Forecast (2007-2012): Outlook for Directional and Interactive Advertising” study figures interactive advertising revenues will increase significantly from $45 billion in 2007 to $147 billion globally in 2012. Interactive advertising, which comprises search (including local search), display advertising, classifieds and other interactive
ad products, grew its share of global advertising revenues from 6.1% in 2006 to 7.4% in 2007. By 2012 Kelsey Group analysts expect the interactive share of global ad spending will reach 21%.
The U.S. will see interactive advertising revenues grow from $22.5 billion to $62.4 billion (22.6% CAGR) between 2007-2012. The Interactive Advertising Bureau reported that online advertising exceeded $21 billion for the first time in 2007, though preliminary data compiled by the group also suggest growth is slowing. Online ad revenue grew 25% last year, from nearly $17 billion in 2006, according to IAB. Still, the gains were less than the 35% and $4.3 billion growth seen in 2006 over 2005.
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Sharon Frazier, Cox Media Eastern Region
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Sharon Frazier
Regional Vice President
Cox Media Eastern Region |
Sharon Frazier currently serves as regional vice president for Cox Media’s Eastern Region, which includes New England, Hampton Roads, Northern Virginia, Oklahoma, Omaha, Kansas/Arkansas, Gulf Coast, Gainesville, Fla., and Roanoke, Va. She is responsible for marketing, research, national sales and advanced advertising. Like many cable ad sales personnel, Frazier previously worked as an account executive for 10 years. She won the CAB’s strategic positioning of cable advertising award for the “General Motors Strikes Back” campaign in 1999. Frazier recently spoke with Local Cable Ad Sales.
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--Interviewed by K.C. Neel
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Nielsen Charts Set-Top Data Minute-By-Minute Measurement
(Excerpted from a 3/12/08 article on the Multichannel News Web site)
Nielsen will measure the minute-by-minute viewing of 330,000 digital households served by Charter Communications in Los Angeles, under the terms of an agreement announced today, will provide the ratings measurement company with anonymous data from the cable set-top boxes, while Nielsen will develop analyses of viewership which will be provided to advertisers and ad agencies. The reports to agencies will also contain only anonymous aggregated data. The partners anticipate that reports generated from the L.A. viewers will be available to advertisers this quarter.
For More…Motorola Invests In Targeted-Ad Company
(Excerpted from a 3/12/08 article on the Multichannel News Web site)
Motorola’s strategic venture capital arm has invested an undisclosed sum in Invidi Technologies, a developer of targeted-advertising systems for the television industry. Invidi’s proprietary technology delivers “addressable” commercials tailored to individual viewers, based on metrics including viewers’ age, gender and location. The Princeton, N.J., firm is aiming its system at cable and satellite operators. Targeted TV advertising is receiving particular attention from the cable industry through a project code-named “Canoe.” The initiative is designed to standardize the process of placing interactive and addressable TV ads across multiple operators. Canoe’s backers include Comcast, Time Warner Cable, Cox Communications,
Charter Communications, Cablevision Systems and Bright House Networks.
For More…Canoe Who?
(Excerpted from a 3/11/08 blog on the Multichannel News Web site)
There are at least two “Project Canoes” out there. Here’s how to tell the difference between ’em. The cable industry’s ultra-secretive Project Canoe is geared around establishing standards for interactive and targeted TV ads. (So named because the six MSOs involved in the project -- Comcast, Cox, Charter, Cablevision, Time Warner Cable and Bright House -- are trying to row the skiff together.) The New York Times reported that the industry is keeping quiet about Canoe activities to date because it doesn’t want to hype something half-baked. Can’t really fault that strategy. Canada’s Project CANOE, established in 1976, is an accredited member of the Ontario Camping Association. This Project CANOE (Creative and Natural Outdoor
Experience Inc.), according to the charity’s Web site, “provides a variety of wilderness canoe trips for youth at risk (aged 13-17). These are youth who would not ordinarily have the opportunity to participate in outdoor activities with their peers due to learning, social, behavioral and/or economic difficulties.” Something tells me the kids aren’t allowed to watch cable on those trips up to Lake Temagami.
For More…Motorola OKs Navic's Interactive-TV Platform
(Excerpted from a 3/10/08 article on the Multichannel News Web site)
Navic Networks completed Motorola’s Acadia application integration and test validation process for its advanced advertising and interactive television solutions to run on the Motorola/TV Guide iGuide platform. According to Navic, that more than doubles its potential market by expanding it to include Motorola digital set-top boxes. Navic ITV applications are also available on platforms including Scientific Atlanta’s SARA, Aptiv’s Passport, Time Warner Cable’s Mystro Digital Navigator (MDN), CableLabs’ Tru2way and eBIF, and TVWorks.
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Nielsen will offer a new service that uses cable set-top boxes to shed light on people’s TV-viewing habits, as reported by The Wall Street Journal. Under the deal with Charter Communications, Nielsen receives information from 320,000 households in Los Angeles and then develops second-by-second data that it can sell to clients like media agencies and advertisers. This is the first time it is offering a service to its clients based on set-top-box data. Supporters of set-top-box data say it is more useful to marketers and less burdensome to participants than traditional Nielsen ratings. The set-top boxes cover many more households, and, unlike the panels, researchers don’t have to secure agreement from those households to
participate. But the data isn’t perfect.
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According to Advertising Age, Bear Stearns analyst Alexia Quadrani told attendees of the annual American Association Agencies Media Conference and Trade Show that she expects 2008 would be a year of modest ad-spending growth, even though the Labor Department released weaker-than-expected jobs data the same day. Quadrani said U.S. ad spending would increase 4% in 2008, up from an estimated 3.3% in 2007, according to Advertising Age. Ms. Quadrani said national ad spending “remains healthy,” while local advertising “remains anemic” and will face more hurdles as digital media become more of a force in the marketplace.
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Local Pennsylvania TV stations will see a flurry of political advertising in the next month-and-a-half as the Democratic candidates for president blanket the airwaves with ads, according to the Pittsburgh Post-Gazette. Rates for 30-second broadcast spots vary by time period and station, but one political ad in an 11 p.m. Pittsburgh newscast -- the most expensive newscast of the day for advertisers -- can cost between $1,250 and $1,800. Area cable operators also beginning to hear from candidates. Bill West, political specialist for Comcast Spotlight, told the newspaper that he heard from Sen. Barack Obama’s campaign two weeks ago and expects to see ad buys soon.
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Almost one quarter (58 million) of all U.S. mobile subscribers say they have been exposed to advertising on their cell phones in the past 30 days, according to a new report from The Nielsen Co. as reported on slashphone.com. Half (28 million) of all data users who recall seeing mobile advertising in the last month say they responded to a mobile ad in some way. Teens were the most likely age group to recall seeing ads on their cell phones and 26% of all users who saw an ad responded at least once by sending an SMS text-message, the most popular ad response. Nine percent say they have used click-to-call to respond to a mobile ad, where users follow a link on their phone to call a specific number
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Comcast Spotlight has snagged Jeff Hamstad as vice president of human resources in Denver. He had been area VP-human resources for the cable operator’s West Division.
Howard Levinson has been named senior vice president ad sales at YES Network. He had been vice president at Time Warner Cable in the New York region.
Stephen Schmeider has been named Virginia satewide business manager for Cox Media. He had been with Professional Student Loan Services LLC where he was a partner and financial manager.
Kathryn Kerrigan has been named senior vice president sales planning and analysis for MSG Media. She had been with Discovery Communications as vice president ad sales planning and analysis.
We TV has hired Scott Collins as senior vice president of national advertising sales. He had been vice president-advertising sales for USA Network and Sci Fi.
Spot Runner tapped Joanne Bradford as executive vice president of national marketing services. The 20-year media veteran was most recently corporate vice president/chief media officer of MSN Media Network..
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EDITOR:
George Vernadakis
646-746-7140
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K.C. Neel
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