April Article - enewsletters to watch!

Every morning my inbox greets me with ”enewsletters” on the opportunities in corporate merchandise from China, invitations to global telecommunications conferences in India and other essential information that I am warned to ignore at my peril. There is no point trying to unsubscribe. Once these spammers find you, you are in for a life term. They give the whole email business a bad name. It’s a shame because some newsletters are worth subscribing to. In our industry there are two types of newsletter; the ones that tell you what is happening such as the Adnews and Media Day newsletters, and the ones that deliver insights and current thinking. The second type is arguably more valuable to our businesses however they are also harder to find. Here are a few you might like to take a look at:

Madison + Vine (http://adage.com/madisonandvine/)

This newsletter and site provides a weekly commentary on developments around advertising sponsored programming, product placement and engagement marketing. While entirely US focused, this is the market that is leading the way. If you are really enthusiastic you can attend the annual conference.

Ipsos (http://www.ipsosmediact.com/knowledge/)

Ipsos is one of the world’s largest survey and research companies and specialise in media and consumer behaviour analysis. The online knowledge centre contains an enormous amount of information, case studies and charts that illustrate changing media behaviours and trends. Registration and detailed report summaries are free. The US site is better than the Australian version.

Molecular (www.molecular.com)

Do you feel like you are just starting to understand Web 2.0 and everyone else is talking Web 3.0? This is the quarterly newsletter and site for you. Molecular is one of the leading digital strategy and web building firms in the USA. There is a blog, whitepapers and webinars for everyone including the super geeks among us. You can even follow them on Twitter, Flickr, Facebook and You Tube.

Mashable (www.mashable.com)

Are you having trouble understanding the point of Twitter? Do you have less than 50 friends on Facebook and starting to worry? Worry no more! This weekly newsletter and site is designed to help you make sense of social media. The site also has a news channel on the iPhone and discusses topics such as the likely future of mobile video. The content is more news, discussion and opinion than research however the commentary is moderated by experienced social media consultants.

Clickz (www.clickz.com)

The Clickz site and newsletter is the true veteran of digital media coverage and an essential for your inbox. The writers have lived through both dotcom booms and it shows in the quality of advice and commentary. There are expert writers within key subject areas such as ROI marketing and paid search strategies that can be difficult to source elsewhere.

Send Up a Larger Room (http://www.sendupalargerroom.com/)

While more a blog than a newsletter, this site is authored by Moensie Rossier, who is currently the lead strategist for Carat Sydney. With several years of posting and significant commendation from its peers for outstanding original content, the blog explores consumer behaviour and how we interact with each other and our environments. The posts can occasionally be esoteric and abstract, however the journey is fascinating.

The fact that these sites and their newsletters exist is reassurance that there is genuine quality to be found in your inbox when you log on in the morning.

 

March article on how to trade media in recessions - Adnews

John F. Kennedy famously said, “In a crisis, beware the danger, but recognize the opportunities.” I suspect he wasn’t talking about a slowdown in the Australian advertising market. More to the point I am not sure the billings slump in Australia qualifies as a crisis. Our relatively flat advertising market compares favorably to Spain, Japan, Northern Europe and even New Zealand who are facing advertising reductions of up to 30% across the board.

It is inevitable however that global advertisers, particularly those headquartered in markets hit hard by the financial crisis, will cut or hold budgets in 2009. As advertising and media professionals we have a few choices. We can pretend the whole advertising slowdown is not happening and be outraged when our clients or managers cut our budgets – the classic Ostrich in the sand maneuver. Alternatively, we can call our clients every week and tell them that there is no slow down and now is the time to spend more – the Kevin Rudd maneuver.  For many clients, both tactics are useless and will damage the agency/client relationship in the long term. If auto manufacturers are having periodic stoppages, and retailers are laying off staff, they have a moral imperative to be more efficient with their advertising and media spend. The question is, what opportunities can we seize in the current market to deliver the same or more impact more efficiently. Here are a few suggestions:

1.       Stay close to media owners.

Media owners are currently under more pressure than most clients. Not only will they understand your need to be more efficient, the best media executives will offer significant incentives for an open and constructive conversation where both parties can see an upside.

 

2.       Consider pre-paying media

Deep discounts are possible where advertisers help media owners manage their cash flow and monthly targets. Partial or full pre-payment reduces the risk for media sales teams, and also gives them flexibility with revenue and budget reporting.

 

3.       Be where your customers are

If your advertising plans and execution have been the same for 3 years or more, the chances are that your customer base has shifted and your media spend is inefficient.  Now may be the time look at a deeper involvement with digital media, subscription TV or mobile. The only caveat is that entering these media should be more cost efficient (on a cost per exposure or impact basis) than your current media plans. This will vary from client to client.

 

4.       Ensure your traditional marketing activity and your search marketing activity are planned and measured together

This remains the single biggest sales conversion opportunity in Australian advertising today. Search agencies such as iProspect and Outrider have specialist tools that allow you to track the impact traditional media has on search engine behaviour. This impact can be refined to generate significant increases in product research and purchase.

 

5.       Demand better reporting and more detailed accountability

Every media spend can be more efficient, better targeted, deliver greater impact or extract better value. Media agencies would agree that clients who continually ask these questions are our most challenging clients. They are also our favourite and most loyal clients. An engaged client attracts an engaged media or advertising agency.