For a variety of reasons, Gen Y is a very attractive demographic for financial institutions. If you can get them young, they are likely to stay a long time. And over that time, you have countless opportunities to cross-sell a variety of products and services. But advertisers often make one common mistake when attempting to target them. In actuality, Gen Y is made up of two distinctive groups – and their needs are entirely different. Understanding these differences, and how your products are relevant to them, can mean the difference between money well spent and money down the drain.
The Weekly PostWelcome to the TBG Blog
Every time you turn around, the Internet is offering more possibilities to advertise and target efficiently. But how do you know what is right for your campaign? And how do you ensure that your digital dollars are being used wisely? Here are six tips to make sure your money spent online gets the most bang for the buck.
1. Make sure you’re targeting the right audience. I think we reiterate this in almost every article, but it’s one of the key factors in all effective advertising, and it is one often forgotten. It’s critical to know who is most likely to buy the product your advertising, or identify who you most want to reach. These days, you can easily target geographically, demographically, by behavior, and more.
You can target people who are within 1 mile of your branch, or send them a mobile message in a home improvement store. You can retarget people who’ve been to your site. Or you can send out direct mail, and scrub the list to target the same folks by email. But at the end of the day, all of these smart tactics only work if you’ve first identified and narrowed your best target audience.
The digital age has taken its toll on mass media vehicles, to say the least. Newspaper and magazine readership is down significantly. Radio stations are struggling for revenues. And many marketers have been wondering about TV advertising with so many DVRs in play, as well as competitors like NetFlix. But this year, the broadcast media has some good news. Due to new technology available soon, TVs will be able to capture what audiences are watching, and relay it to advertisers via the web, opening doors to new ad revenues.
These days, we all wear a multitude of hats in our daily jobs. And with technology and the industry changing around us at record speed, it’s easy to overlook a thing or two. But at the end of the day, it’s results that count. So here are six common mistakes that can mean the difference between advertising that performs, and advertising that simply chews up your budget.
Reason #1 – You assumed the consumer would read your ad. You spent good money to create it and place it, so of course they’ll read it, right? Wrong. Remember that the average consumer sees thousands of ads in a day. They are not looking for yours. So if isn’t special, or relevant, or memorable, or well placed, it will easily be overlooked. And your dollars are down the drain.
Recently, I received a “thank you” from ATT in the mail. It was a $10 Starbucks gift card. A nice thought, I remember thinking, and set it to the side. A week or so later, I grabbed it to head out to Starbucks and realized they hadn’t actually sent the gift card. I had to call ATT, let them thank me in person, and then I would be given the card.
It was beginning to seem like less of a thank you. But it really went downhill when I picked up the phone. I had to go through a series of prompts, and I was then put on hold for several minutes. I found myself thinking what a lousy advertising promotion this was. And who was responsible? What were they thinking? Anyone who deals with ATT already knows that their customer service is terrible. Why would they want to highlight that? Why take a customer who is otherwise doing well and put them through a miserable phone experience?
When the representative came on the line, she thanked me for being a customer for so many years and asked if I would prefer to have the coupon emailed or sent by mail? Well, email of course – then I could use it before I forgot about it. Which is when she told me the email would take 6 weeks. Mail would take 12. It doesn’t get any worse than this, does it?
There are a lot of lessons here. Make sure you have clear goals with your promotions. Know your product well, along with its negatives. And never, ever highlight your negatives. Certainly don’t shove your customer’s face in them.
In a recent meeting, a client asked about creating an app. He had seen a competitor offer an app, and therefore wondered if his company should have one, too.
At the end of the day, an app is no different than any other tool in your advertising toolbox – whether it’s traditional media, a digital advertising campaign, website retargeting, etc. You first have to look at your goals, as well as your budget.
Swiss inventor Georga deMestral first registered the trademark for Velcro 55 years ago. And of course, we all know it became the biggest breakthrough material in clothing since the zipper. Since then, it’s used by manufacturers to hold various items together, and the world has accepted its place in every day life. So how do you breathe new life into a brand like this?
News of the Omnicom-Publicis rumor got me to thinking of my big-agency days. I spent many years as Creative Director of a large international agency and oh, it did have its perks. There were enormous budgets for TV commercials. And fancy hotels. And limousines. There were nice benefit packages and pension plans.