Ah the Metro in DC on a Tuesday morning. Cold, wet, and some guys forcefully shoving the local rag into my hand as I walk down to the subway. Now I am an MP3 player person, this means I listen to podcast and music while I ride the train. There are also book and knitting people, they do those things as well.
The most prominent person on the metro is the condensed news reader. These are the people who grab condensed versions of the newspapers and read them on the train in the morning. Here in DC we have a few but the biggest one by far is the Express, The Washington Post’s paper.
Most newspapers are bleeding money, but the express is making money for the Post hand over fist. Why? Well, its short, has very little news in it and has more ads than a Nascar. The paper also has one of the widest readerships in the DC area and no subscribers.
How is this accomplished you ask. Well I will tell you, men and women stand at the metro entrance and bus stops and hand them out to commuters. That’s right, people literally hand this thing to you when you get on the train. The thing that sparked my interest was that one of the was actually reading the headline off of the paper today.
For some reason I was thrown back to the 20’s (maybe it’s the economy) but I could see some scrappy kid crowing out the headlines while downtrodden workers went about their day. I had to laugh because screaming out headlines (ala town crier style) has to be a few hundred years old way of moving the news… and it still works today.
While newspapers are bleeding money and looking for new ways to create revenue many are turning to the internet. I understand the internet has made some people some money but its now a golden goose anymore. I use the papers as an analogy for how reinventing the wheel isn’t always par for the course when it comes to marketing.
Look at things that have worked in the past, will they work in the future, can you change something small to make it work in the 21st century. Have you noticed any age old marketing tools resurrected to work in today’s market? Let me know.
With the passing of the bailout, TARP, a lot of people are talking about what a great time it is to get on the GSA schedule. And while the inner workings of government contracts are by no means a specialty of mine, I will say in the short term there is some money to be made on the GSA. So long as you’ve got the time and the patience. A lot of patience. And a lot of time too actually. It isn’t really an enjoyable process.
But more to the point of this post. If you’re looking to make more than a quick buck, consider investing the time spent on the GSA process on going global. There’s no better impetus to take a look at global operations, considering the shaky status of our domestic economy.
From the potential loss of our AAA rating to the expected status of our currency as the markets continue to shake out. Admittedly a little gloom and doom, and while I don’t think it will be catastrophic (at least not immediately) I do understand that an unbalanced market must undergo corrections. The catch is that a truly open economic scenario doesn’t correct things nicely. Populations are adjusted based on corrections like those - take the classic rabbit and wolf example. The two populations have a high correlation, and if one is out of balance the results can be devastating.
This correction will most likely result in further globalization of the economy. There are some wonderful opportunities opening up for those who care to seek them. A situation such as this doesn’t present itself often. A time when American companies have the experience and know-how and outside countries have the desire, funds and resources.
Facebook is becoming more than a place to track down those people you do not really keep in touch with. Now Facebook wants to take word-of-mouth marketing to a whole new level. Their new approach is to pay for ads that have your profile picture attached to it. It is another way to market your brand preferences. By getting Facebook users to recommend products to friends, they are narrowing down their targeted audiences.
Not only does Facebook allow you to post your interests on your personal profile, but now whenever you make a purchase or a rental, it will ask you if you would like to attach your picture to the brand or type of product that you just ordered. They will basically try to partner with companies and keep up with the activity of Facebook users on those sites. Facebook is not giving the information to marketers and they are just letting it roll.
It is true that nothing means more than when it comes from a friend. This is the easiest, and smartest way to market a brand and to easily target those that will most likely be interested in the same things. By accompanying the ads with friends’ comments, this takes away a largely commercial feel from the Facebook site as well. This concept is social marketing at work.
However, is this really what we want our future to look like? I mean yeah, marketers will be getting a gain out of it and your friends will be able to see what you are interested in. But it could turn your face and comment into an advertisement. Like most social network dealings, you must be careful what information you have made available about yourself and who you offer it to. You could become a “brand ambassador.”
This sounds like an effective marketing idea, but will it really hold out this way without marketers eventually getting involved?
General Motors Corps. entered a power-partnership when they paid a large sum to have four of their vehicles placed in the blockbuster hit movie Transformers. Their new 2008 models were advertised in one of the summer’s top movies that targeted various demographics. The vehicles were targeted in such an awesome way, that people attached that brand to the movie characters and actually wanted to go out and try them in real life.
The movie offered a global platform for marketing GM products and building their brands. Having GM support, added advertising for the movie as well. The two go hand in hand. Going against the grain, and the traditional style of automotive marketing, this movie brought the GM brands to a whole new level. GM put in more than a million dollars’ worth of product that included hundreds of their new and old vehicles. After paying all of that money to have the vehicles displayed as major actors in the film, they looked so attractive to the targeted demographics that sales went up.
The movie not only appealed as an action thriller for little boys, but also to strong and independent women that saw themselves relating very well to the powerhouse female characters leading in the movie. By broadening their audience, they actually got more attention and eventually viewers and fans.
Was it smart for GM to invest so much in a summer movie?
Here we are, the worst economy since the Great Depression. I am not sure what was so great about it, but that is what they called it. Unfortunately We bailed out the people that got us in to it. But, that’s the American Way.When our experts can not figure what to do, They, “Throw More Money At It.” It never works, but it gives “our experts.” a few days to feel good about themselves, especially if it is Friday when they do the bailing.
And as you know, Saturday & Sunday are usually reserved for the “talk show circuit,” explaining to the American public who are actually paying for it, without any of the benefits attached. The economy sucks my friends but now I need to write, tie-in, connect to… what this has to do with Marketing and Advertising.
Actually, everything. I do not suggest throwing more money at it. The Large Advertising Agencies are experts. Did you know a large percentage of the money you pay for a product or service pays for the advertising budget. If large Agencies were more frugal, more creative, smarter (which is not possible for the large agencies because of their overhead.) You my friend would be paying less. And guess what that means… the consumer pays less, much less. They keep more money and spend it on what they want to spend it on. (What a concept. OY!)
So how “do” you use this to your advantage? Ask our clients, we use the web, web marketing, Social Networking, Viral messenging, etc etc etc. It works, it sells, your clients see the ROI and guess what, You just used the bad economy to your advantage. Your clients need to learn the benefits. You need to teach them. We all win…
Here is my question? What will it take for your customers, to understand, and take advantage of “what lays before them?”
Stay tuned.
