I recently attended a MRCC (Media Research Club of Chicago) event with special guest, Bill Tancer, author of “Click: What Millions of People are Doing Online and Why it Matters.” Mr. Tancer provided a very entertaining and insightful look at online consumer behavior. Here are a few highlights:
Advertisers can change online consumer behavior: Mr. Tancer shared eye-opening findings in regards to peculiar search behavior for the search term, prom dress. Prom season typically occurs between March and May; however, search volume for “prom dress” spiked in January. This bizarre spike in volume and expansion of prom season was later attributed to a teen fashion magazine’s advertising campaign that ran earlier in the year. Eureka – advertising works!
The economy influences consumers’ desire to save: Mr. Tancer talked about the Groupons of the world and how their growing popularity is largely due to the current state of the economy. Groupon is reaching mainstream adoption with the 55+ age group leading in average visits. The deal itself seems to be the ultimate driver, not the site. This was evident when LivingSocial scooped up Groupon’s market share with an 80% increase in traffic due to an attractive 50% off deal from Amazon. The economic downturn has created a new consumer segment, known as the “Boomerang” segment. “Boomerangers” are defined as young adults who, after living away from home, have returned to live with their baby boomer parents. Can you say hello new niche market?
Mobile: Mobile phones are for adults AND kids? In 2010, nearly a quarter (23%) of kids ages 6-11 had a cell phone.
Social: Social media is no longer for young adults (18-24). Now, you can find the entire family on Facebook. The 55+ age group in particular is one of the fast growing segments.
Digital usage continues to expand across all generations: This glimpse into consumer behavior offers valuable takeaways for advertisers, including observing online behavior, finding a diamond in the rough economy and tapping into new audience segments. What types of consumer behavior trends have you noticed this year?
AdAge - ANA Survey: 52% of Marketers Will Ask Agencies to Lower Internal Costs
This article accurately highlights many of the market challenges that agencies and advertisers face today. This quote is very telling: “Though the industry outlook is trending toward stability, marketers need to be careful not to simply rely on short-term answers to solve enduring budget issues.” It’s imperative that marketers focus on how they can extend their capabilities in an effort to accomplish more in the future, rather than hastily cutting budgets without fully understanding the long-term consequences.
The first step is to really focus on internal processes. It’s encouraging to hear that both marketers and agencies are taking a closer look internally to find ways to reduce costs; however, the key is to find the best possible ways to invest in smarter processes, so that key talent can be secured and leveraged to drive growth and profitability. Too often, key talent is not primarily focused on strategy and development due to stretched resources. Wouldn’t it be more beneficial if this valuable talent was empowered to focus on long-term media strategies?
CHICAGO, IL – April 4, 2011 — Today, Crain’s Chicago Business officially named Centro Chicago’s “#1 Best Place to Work” in 2011, highlighting Centro’s unparalleled dedication to its employees. Media technology company Centro was chosen from a competitive group of companies with 50 employees or more that spanned the six Chicago-area counties. The 2011 Best Places to Work annual list rankings are determined by a third party analysis of employee responses to two surveys issued by Crain’s Chicago Business to Chicago-area companies.
“At the core of Centro, we believe the happiness of our employees is the key to our future and our success,” said Shawn Riegsecker, founder and president of Centro. “From the day we started, we’ve worked hard to create the right culture and environment that helps our employees achieve their highest level of personal fulfillment and satisfaction. I can’t thank our peeps enough for making Centro the fun, energetic and rewarding company it is.”
Through the Crain’s survey, Centro’s employees shared the wide breadth of perks offered to them including tuition reimbursement, health and wellness benefits (on-site yoga classes, coverage of eighty-two percent of employees’ health plans, twenty percent discount on the employee portion of premiums for participants in the company’s health screening program), 401(k) matching plan, stock options, three week sabbatical after four years of service, generous time off policy, employee happy hours, on-site karaoke, foosball and video games. To ensure transparency throughout the organization, Centro’s leadership team holds a monthly all-hands forum where employees are encouraged to ask executives pressing questions.
Having recently announced $22.5 Million in Series A funding at the beginning of the year, Centro is positioned strongly for rapid growth, fueled largely by the aggressive expansion of the technology and business teams in Chicago. The company also launched Transis, groundbreaking media software that streamlines the digital advertising processes and eliminates redundant tasks associated with placing digital media, early last year.
Centro is proud of the culture they have created that reinforces the importance of achieving success by focusing on the well-being of its employees, customers and the community and congratulates its fellow honorees, including Assurance Agency Ltd., Microsoft Corp., Google Inc., Digitas Inc., Career Builder LLC and Deloitte LLC.
To learn more about Centro and its title of the “Best Place to Work” in Chicago, please visit Crain’s Chicago Business.
About Centro
Centro (centro.net) partners with advertising agencies to improve their campaign performance and digital media teams’ productivity in order to better manage costs and maximize profitability. Centro is the only provider that offers both managed services and cloud software options to simplify and streamline the full campaign life cycle to meet the unique requirements of every agency. Since 2001, Centro’s media logistics specialists have successfully planned and executed more than 22,000 local and national campaigns across all digital display platforms and ad media types. Headquartered in Chicago with 32 offices nationwide, Centro’s success and commitment to culture has led to many accolades, including #1 on Crain’s Best Places to Work in Chicago in 2011, 2012 and 2013.
Contact:
Anthony Loredo
[email protected]
646-462-4888
As the media landscape evolves and new competitors arise, advertisers are continually fighting through clutter to ensure their voice is heard among consumers. So, how do advertisers develop messages that resonate with consumers? First stop, research!
I recently attended an American Marketing Association event that focused on “Measuring the Un-measurable.” A variety of innovative research methods were shared with participants. Here’s a quick recap:
These different research tactics are good reminders to not overlook the emotional connection of a brand. Advertisers should continue to build stronger and deeper brand relationships that ignite positive, emotional responses. Most importantly, advertisers should always strive to be active listeners.
Read the Entire Story on Digiday
Read the Entire Story on Technori
Last week, I attended the MRCC (Media Research Club of Chicago) “State of Media Today” seminar. I had the opportunity to network with many digital research experts. One interesting conversation that I had was with a former Media Director who excitedly told me she switched her career after working more than 10 years at an advertising agency. She was very candid about challenges she faced in regards to increased pressure and stress, limited resources (she was often a team of 1), higher client expectations and unbelievably large workloads. Simply put, she said, “I got burnt out.”
Dovetailing off this conversation, we had the great pleasure of listening to Mike Bloxham, Executive Director of the Media Behavior Institute, comically speak about the state of media today. While I expected to hear more about the continual advancement of emerging technologies and platforms such as online video, mobile, social and tablets, I was pleasantly surprised to hear more about the impact of the state of the media. For example, he highlighted how the downturn of the economy had led to budget cuts, tougher goals and higher performance expectations all coupled with an ever-growing, complex and challenging digital landscape that led to changing consumer behavior.
These two separate experiences further identify the key problems marketers and agencies face with digital media. Rather than continually talking about the problem, let’s start talking about a solution: efficiency.
It’s time to start thinking about how to move faster and think smarter when it comes to digital media. With efficiency, there is growth. Rather than cutting budgets and removing resources, marketers should start thinking about strategic ways to identify and improve operational tasks to extend their capabilities. These capabilities should be leveraged outside of internal teams, so a continued focus can remain on creative and strategic work that leads to greater ROI.
What are your thoughts on the current state of the media? Where are there improvement opportunities?