Marketing in a Recession « Talk, Inc

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Posts Tagged ‘Marketing in a Recession’

My second first day

Thursday, May 21st, 2009

I’m nearing the end of my second first day working at Talk. Having been invited back as a summer intern after a week-long externship in March, I feel like I have returned home. Not only does Talk offer an incredible learning experience, friendly uber-talented co-workers and adorable top dog Camden but also the opportunity to completely submerge myself in a to-do list.

For the last four years I have lived my life carrying around my to-do list and savoring the enjoyment of checking items off. Post graduation, I enjoyed one whole week without homework and without a job. I enjoyed sleeping in and naps on the beach, hoping to offset my sleep deficit from late-night studying, but I can only handle so much of that. With no agenda, I have had way too much free time to ponder issues of unemployment, pending financial doom and my recently canceled health insurance.

Today, Kirsty mentioned writing for Intern Diaries and reminded me that I have a unique perspective. I am one of the many recent college grads who is interning after graduation regardless of previous internship experience, because of the economy.

It’s a frustrating time for young professionals such as myself. I worked relentlessly to make myself a strong candidate for jobs after graduation, having interned for the American Heart Association, worked at Pyramid Public Relations, been an active member and leader in PRSSA, volunteered in my community and graduated magna cum laude. I did everything I could to prepare for the job market only to find that there were no relevant positions available.

I hope that if you can identify with my situation or know someone who can, that you will follow my Intern Diaries this summer. As my internship and job search progresses, I’d like to share what I learn to help you out or maybe just to make you laugh.

Tags: blogging, intern, Intern Diaries, Marketing in a Recession, PRSSA, Public Relations Agency in N.C., Talk
Posted in Professional Development | Comments

Top five survival tactics for media outlets

Monday, May 18th, 2009

Everyday the headlines about news outlets seem drearier and drearier. Yes, this economy is rough, but many newspapers, magazines and broadcast stations have and will continue to be phased out, not because of the economic climate but because of their refusal to conform to new media standards. So in a time when all the big wigs are rethinking their strategies, here are my top five survival tactics that I think will be critical to the reinvention of the news media.

1. Go to where the audiences are: Sorry Wall Street Journal, but you missed the point when trying to advise your reporters on how to engage in social media. We will advise our clients to consider how they want their staff to participate in social media, but the WSJ policies inhibit instead of encourage participation. Coming from the negative perspective of “what’s the worst that can happen online,” WSJ leadership is missing out on an incredible opportunity that other outlets, like the New York Times Co., are taking advantage of.

2. Involve news consumers in news reporting: This week, Newsweek joined the likes of CNN and integrated its news reporting on Facebook in a major way this year. The magazine aired a live interview with Treasury Secretary Tim Geithner through its Facebook page on Monday. Fans had the opportunity to submit questions and comments through Facebook, playing a primary role in the Newsweek interview. In a similar setup just this month, Arianna Huffington interviewed billionaire Sir Richard Branson on the maiden flight of his Virgin America for Digg.com. Huffington chose the most popular of the more than 1,500 reader questions submitted on the Digg Dialogg page. This not only made for a more interesting and unconventional interview (even for the outrageous Branson) but visitors on Digg had an actual stake in the interview, making its outcome more compelling to them.

3. Create a niche product: I’m always bragging about our local paper in Wilmington, N.C. Not only do they belong to the great New York Times Co., but they are so out in front of adapting to the changing media landscape, that I wonder if they’re not even ahead of their parent. The Star-News has created the new website MyReporter.com, where if you have a question about “life in coastal North Carolina,” you can ask it and have the local paper’s team of reporters find the answer for you. It’s a natural fit, right? Reporters spend all day researching and know how to find answers in ways the general public don’t. While the jury’s still out on the site’s moneymaking potential, it looks promising. “Site Sponsors” can also answer reader question that relate to their line of business, offering a unique opportunity for online exposure.

4. Become less reliant on ad sales: If there was ever a time we ever needed a new strategy for traditional ad sales, that time is now. Decreasing ad sales may responsible for the biggest hit media outlets have taken over the past year. Signs don’t point to a swift or simple resolution. But let’s think outside the box. There’s a reason Entertainment Weekly’s website content has grown richer and its page numbers have dwindled. Offer advertisers opportunities to grow, interact and engage with readers and viewers and that is a sound start.

5. Open up: This seems to be a major problem for TV networks and movie studios alike. Naturally, no one in their right mind thinks it’s OK for an unfinished $200 million super hero movie to leak on the Internet. However, if there is a funny clip or sketch on a cable or network program, the aggregation of that on the Internet will help you in the end, not hurt you. NBC and Fox got smart and along with other networks, signed agreements with Hulu.com so they can get some monetary value from their viral videos.

Photo by: j2taranto

Tags: Digg, Facebook, Hulu, Marketing in a Recession, NBC, New York Times, Star News, Wall Street Journal
Posted in Public Relations | Comments

How NOT to use a Facebook fan page

Tuesday, April 7th, 2009

It’s hard to believe that Facebook is only 5 years old, especially when you consider that the site now serves over 200 million people across the globe. These numbers are shocking as I think of my first Facebook experience and how drastically things have changed since then. I created my Facebook profile in June 2005 after learning about the for-college-students-only site at my UNC-CH orientation. Since the early days, Facebook has been something unusually personal, where I can be myself and communicate with people who know me or want to know me.

Because Facebook has such a personal connotation to so many people, marketers and companies must be careful with how they approach potential and current consumers on the site. Facebook, despite having strict rules for advertising, has been fairly helpful to businesses by giving them options for speaking directly to their target audience through fan pages. These pages have undergone changes recently that help companies become more engaged with consumers, however some have taken these privileges overboard to become more of a nuisance than a welcomed friend. Here are a few things I advise NOT doing with a company fan page:

1.    Send promotional messages. – Some people use Facebook messaging like email. I honestly couldn’t tell you the email addresses of most of my college friends, but that doesn’t matter, because we have Facebook. Since these messages are like email to many of us, promotional messages give us the same icky feeling as spam. It is especially annoying, and inappropriate, when companies hire Facebook users to send these messages and pose as legitimate acquaintances.
2.    Give fans a daily update. – Facebook allows companies to send updates to their fans that appear on a users news feed just like friend requests, event invitations and wall notifications. These updates should be used to express big changes or events, not detail every little development. If the updates aren’t relevant or too frequent then it will be ignored and possibly blocked, so keep them to a minimum.
3.    Send invitations to random people. – The other day I received an invitation to be a fan of a park in another state that I had never been to and never heard of before. As someone who lives hundreds of miles away, I am clearly not in their target audience. Send invitations to users who fit the profile of a potential customer or have expressed interested in the company but might not have known about the fan page.
4.    Don’t update the company profile. – There is nothing worse than a company that creates a fan page, only to let it sit there for months and months without a hint of new content. The new fan pages offer a variety of applications that can link to a Twitter page, blog or newsroom as well as space to upload photos and videos. Taking a few minutes every week to add new content to the company page will help keep users engaged and encourage interaction.

Tags: Facebook, Marketing in a Recession
Posted in Marketing | Comments

No budget marketing tips

Friday, March 6th, 2009

When times get tight, it’s no secret that the marketing is the first thing to go. On our blog, we’ve written about what a tragic mistake this is. If you aren’t showcasing your brand out in the marketplace you basically ensure its quick death. Here are a few “no budget marketing tips” to tide you over. Warning: the following strategies require a lot of elbow grease, but if business has slowed down, you have no reason not to try them out. Or, if you’ve had to sacrifice your media buying budget, invest instead in a great PR firm who can guide you through the following no budget marketing strategies:

1. Public Relations

I wouldn’t recommend delving into the world of media relations without a trained professional to advise you, but there are certainly some tactics you can employ to get the press to cover your business. You can learn a lot from Peter Shankman’s free service, Help a Reporter Out. He offers some sound advice to help you be the best publicist you can be for your company.

2. Barter

Smart marketing is so often about creating smart partnerships. Sure you can’t afford to hire XYZ Corp., but if you know they need (and can’t pay for) some of your widgets, then you’ve got a deal! Be sure you have your marketing objectives in mind and reach out to the companies that can help you get there. If you can offer them something they want in exchange, then you’ve essentially doubled your no budget marketing budget.

3. Get online

Does your company offer a product or service that can really help others? Do you think you have advice to share that can help people find solutions to their problems? If the answer is yes, then you were practically born to blog! Check out sites like ProBlogger and CopyBlogger to learn everything from the basics to really sophisticated online marketing strategies. It may not necesarily be comfortable for you to learn the fundamentals of marketing online, but you know what, neither was building your company. And if you want to stick around for the long haul, commit to embracing this wildly effective (and inexpensive) marketing strategy.

4. Network

I’m a huge proponent of “your network is your net worth.” People that say that Chamber After Hours and other professional mixers aren’t effective are simply not effective networkers themselves. You don’t have to join everything. Again, keep in mind your marketing strategy and pick the groups you would like to be a part of, which may have the most key influencers to help you get there. And then you have to work. Hard. Keith Ferrazzi is my favorite thought leader on this subject and you can learn a lot from him about how to create and keep relationships that will help you grow your business.

Tags: Marketing in a Recession, Public Relations Agency in N.C., Social Media in Wilmington N.C.
Posted in Marketing, Public Relations | Comments

The Latest Marketing Schemes

Wednesday, February 18th, 2009

Hyundai implemented the “buy back your car if you loose your job” campaign stunt in the latter months of 2008. Thanks to this campaign, Hyundai seems to be standing alone in the automotive industry with positive sales numbers. Recently, JetBlue jumped on the bandwagon and began offering refunds on flights if a customer looses their job.

Another marketing stunt that just came to light is the cranial billboard. AirNewZealand convinced 30 people to shave their heads and display a temporary tattoo featuring the brand for two weeks in November. In an attempt to conduct this outrageous marketing stunt, Air New Zealand offered participants $777 or a round trip ticket to New Zealand.

We can only wonder, what will companies do next to catch our attention?

Tags: Marketing in a Recession
Posted in Marketing | Comments

Super Bowl cutbacks extend to special events

Thursday, January 29th, 2009

super-bowl-logo6

It turns out the Super Bowl pre-parties just aren’t that super. In an effort to tighten purse strings, some of the most popular promotional events are being scaled back or simply cutback. Here’s a rundown:

Sports Illustrated: Off

Coming off a year when publisher Time, Inc. cut six percent of its 10,200 employees and faced restructuring costs upwards of $125 million, putting on a Super Bowl party doesn’t seem like the highest priority.

Playboy: Off

Time magazine called this party the “Vanity Fair Oscar Party” of Super Bowl parties. Tickets sell for $2,000. But the magazine is wisely favoring the relaunch of Playboy.com in February over the popular party with Hef-ty price tag.

Lingerie Bowl: Off

This is more of an issue of location, location, location, than economics. The “Lingerie Football Committee” could not get permits to stage the event in Pasco County, Fla.

Maxim: On for now

One source described the party as “hanging on by a spaghetti strap.” Attendance for the bash was cut in half, but the party is still expected to go off with 1,000 of Tampa’s most beautiful people in attendance.

ESPN the Magazine: On

Arguably the most exclusive event after Maxim’s, the Hard Rock Hotel & Casino is home to this party, hosted by unlikely trio Kevin Dillon (Entourage), Jimmy Johnson (NASCAR) and Nick Lachey (recording artist).

Leather and Laces: On

This annual event will be hosted by Jenny McCarty, Carmen Electra and Kim Kardashian this year and promises lots of celebrities and athletes in attendance.

Seemingly recession proof, there will be far more celebrity hosted parties - most notably, Kevin Costner’s will benefit a Tampa Bay Buccaneers charitable foundation. Former NY Giants superpstar Michael Strahan will co-host and T-Pain and Sean “Diddy” Combs will perform.

Tags: Events, Marketing in a Recession, Super Bowl Ads
Posted in Marketing, Public Relations | Comments

A monster of a competition

Wednesday, January 28th, 2009

super-bowl-logo7 This year the Super Bowl is revealing a showdown that is, arguably, much bigger than the Cardinals vs. the Steelers. It is a competition of creativity, wit and job searchability. In case you’re confused, I’m talking about the advertising match-up between CareerBuilder.com and Monster.com. Both job search websites have been actively approaching the Super Bowl with contests, interactive websites, and commercial teasers, but there can be only one winner.

My prediction? Monster doesn’t stand a chance. CareerBuilder has created a hilarious website that allows you to send anonymous tips to your friends or co-workers via one of their wacked-out office workers. In case you’re sarcasm isn’t up to par, you can always use one of their premade tips, which are sure to make anyone laugh out loud. The company has also utilized social media by giving Facebook users a chance to send a “creepy co-worker” as a virtual gift. Monster attempts to be clever by allowing people to apply for a fake job in hopes of winning $10,000, but considering 2.6 million people lost their real job last year, I’m sure they would rather fill out a real application. For now, we only have the pre-game chatter to go on, so watch the game and read our blog on February 1 to see what really goes down.

Tags: CareerBuilder.com, Marketing in a Recession, Monster.com, Super Bowl Ads
Posted in Marketing | Comments

Super Bowl by the numbers

Wednesday, January 28th, 2009

Be the smartest one at your Super Bowl party with these game day statistics!

$150 million: Projected direct spending tied to the game this week in Tampa

100 million: Close to the number of U.S. viewers expected to tune into the game

$7 million: Fundraising goal for the Super Bowl Host Committee

$3 million: Price tag for a :30 Super Bowl ad

100,000: Fans expected to descend on Tampa Bay on Super Bowl Sunday

50,000: Hotel rooms in the Tampa Bay area expected to fill up

1,000: Guests expected at the popular Maxim magazine party

$500: The new, recession friendly Super Bowl ticket price

90: Percent of Super Bowl ads sold by NBC as of mid-January

Tags: Marketing in a Recession, Super Bowl Ads
Posted in Marketing | Comments

Rookie advertisers come off the bench for Super Bowl

Wednesday, January 28th, 2009

super-bowl-logo6

One of the golden rules of marketing in a recession? As your competitors cut back, invest in your marketing and gain new market share. We’re seeing this happen now, and that’s why this year’s Super Bowl may be deemed the Year of the Rookies - advertising rookies that is.

Here’s the game plan: big name teams like GM and FedEx are on the injured reserve list and sitting out the Super Bowl because of the economy. Our second string includes Denny’s, Teleflora, General Electric, Hulu, Dreamworks Animation and Mars’ Pedigree. Now that’s not a bad lineup.

Rookie advertisers have a good history of creating memorable ads that get big results. Ad Age reports that when Emerald Nuts advertised in its first Super Bowl in 2005, its sales rose a whopping 56 percent.

Three cheers for these brands, which are both prepared and willing to take that leap. Here is a sneak peak at the ad from Pedigree.

Tags: Marketing in a Recession, Super Bowl Ads
Posted in Branding, Marketing | Comments

Things We Love

Wednesday, January 14th, 2009

Debbie loves Popego – It’s a cool Internet company that uses AI technology to push online topics to you that match your interests. It’s simple. You create an account and link up your other online accounts like Twitter, Faebook, Flickr, etc. Popego combs these sites regularly to determine the type of topics that interest you based on your online activity. Popego provides you daily recommendations of sites and blogs that you may like, based on your interests profile. Popego also allows you to share your interest profiles with the rest of the online world and find people with matching interests.

Holly loves PETCO. – The pet-centered store has a current initiative to encourage pet adoption during these hard economic times. When I adopted my puppy in November, my heart was full but my wallet was empty. The laundry list of things I needed for my new best friend far exceeded my budget, but PETCO. was there to help with a free coupon book for adopted pet owners worth over $225. The coupons offer steep discounts, rebates as much as $20 off certain products and even free merchandise and dog food. If you’re thinking of adopting a pet, PETCO. is there to make sure you can afford it.

Kelly loves Screen Sharing with Skype of Mac – Now users can transmit the images on their screen to the person they’re talking to over Skype, including the whole screen or just a part of it. This is an exciting and convenient tool to discuss a brief with your colleagues, prospect potential clients or present ideas to existing clients.

Kirsty loves DominosPizza.com - Because I live in a town that is approximately 20 miles (and 20 years behind) civilization, this week I discovered, to my joy that I can finally order my pizza online. Because it is too much effort to pick up my Blackberry and dial the seven digits it takes to call in my order, now I can carelessly do it in between Facebooking and catching up on my Google Reader. The reason I love Dominos so much (other than it’s the only pizza place in town) is because it tracks your order in real time - that means from the time they are tossing (or defrosting?) the dough to the time it leaves with the “Delivery Expert.” It was a truly fun and engaging experience.

Shawn loves origami, the Japanese art of folding paper into shapes representing objects – One of my first money making operations was in elementary school making origami frogs that I sold for 10 cents. My arch-nemesis, Adam Conover, deconstructed one of my frogs to see how it was made and then started selling them for 5 cents. I was soon out of business. I rose above it and I still have an interest in origami. There are now other formats other than traditional paper origami. Check out new trends such as origami logos and origami web icons.

Susan loves Lost – ABC’s hit time-shifting, castaway drama returns next week for its penultimate season. And while I love the mysteries and the interconnected storylines, I’m happy to know that with the pre-arranged series finale in 2010, I will get a planeload of answers. Kudos to ABC and the producers (affectionately known in TV land as Team Darlton) for their marketing and PR genius. With the ups and downs of the series, many viewers may have knocked off years ago in frustration, but with the answers looming on the horizon, I believe the show will keep its following straight to the end.

Tags: Marketing in a Recession
Posted in Marketing | Comments