How Technology is Shrinking Traditional TV Viewership

I recall a few years ago watching the Emmy awards and wondering if any of the major broadcast networks were going to win any awards.

By broadcast networks, I mean the networks that you can watch over a traditional television without cable or internet.  In most cities that includes ABC, CBS, NBC and sometimes FOX, CW and MY networks.  PBS too.

As I was reviewing emails from the summer I saw one from MarketingCharts/MediaPost that pointed out a generation gap in how we watch. This study actually counts satellite and cable tv as part of the traditional tv group

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From the looks of it, it appears that the current batch of 40 year olds are at the age of switching from watching live traditional TV to other delivery methods such as streaming or delayed viewing on other devices.

My kids are definitely watching plenty of streaming video compared to traditional television.  My wife and I are over 50 and we watch streaming video too because of the convenience of it.

My guess is that the switch is not just because of our ages, but the switch will accelerate as more and more older adults become aware of the choices they have.

And now a note of caution for the businesses that are relying on their local television stations to advertise with…  The audience isn’t just getting older, it’s shrinking too and will not be coming back.

How much traditional TV did you watch over this Labor Day Weekend versus how much streaming video did you view?

Not All Experts Are Experts

I’ve talked a lot recently about the term Experts.

Expert is not a title you earn by going to school or completing certain training.  Being an expert involves many aspects but generally speaking…

An Expert is someone who has expertise in something beyond the average person. expert1

Often a degree is required, like a Doctor.  Or other credentials for other professions.

But Not All Experts Are Experts.

In the media and marketing world, you can become certified and credentialed, but the question remains can you deliver?  Do you have success stories? Do you have data to back it up?  Do you have positive reviews?  Are you following best practices?

Even if you are a nice person, you may not have earned that expert title, yet.  If you want to be better and grow your expertise, you can do it.

I was researching some information for an advertising partner and was bothered by the level of expertise that an “expert” had.  It was lacking… not up to par with what my advertising partner should be getting for the money spent each month.

I dug further and discovered numerous mistakes online.  These were not invisible to the average person mistakes, but obvious ones to the naked eye.

It made me sad, actually because I really was hopeful that this “expert” was the real deal, but now I can’t recommend them anymore.

It’s not fair for me to publicly tell you who I am referring to. Instead I urge you to do your research.  If you don’t know how to research, or what criteria matters, then ask.  There are plenty of people who have the knowledge to guide you to find the right expert you need for your business.  Lawyer, accountant, social media, advertising, plumbers, you name it, you can find it.

And I’d be glad to help you double check on anyone in the marketing, media, online, advertising world both locally and nationally too.

Just ask me.

Marketing Wisdom from Others

I’m going to tell you a little story.

A story about Collective Wisdom.

ScLoHo's Collective Wisdom

 

Collective Wisdom is the name of the first blog I created in 2004, but Collective Wisdom has a deeper meaning:

The best way to learn something is by learning from others.

If you’re smart, you already knew that.

Thirty years ago, I moved my family from Indiana to Detroit to embark on a new career in a city I had never been to before.

It was my transition from working on the air as a radio personality and program director to the advertising side.  I was 26 years old and had to wear a sports coat and tie everyday.

I learned from the owner of our company, Don Crawford of the Crawford Broadcasting Company; and Frank Franciosi, the General Manager of WMUZ 103.5 FM.  I also learned from Doug Burns, a co-worker who I teamed up with to create some very creative and successful radio advertising campaigns before Doug advanced in the company and transferred to Dallas.

But beyond these people and our in-house training resources, I also sought out wisdom from others.

I became a student of marketing, advertising and sales.  Every week I learned from the business owners and managers I worked with as we created advertising and marketing plans.  Most were successful but we learned from those that weren’t successful too.

I also took responsibility for furthering my education by reading certain books and articles and today I’ll share some of those with you.

Harvey Mackay caught my attention with his book Swim With The Sharks Without Being Eaten Alive and his 2nd book Beware the Naked Man Who Offers You His Shirt. These two books laid the foundation for me in how to conduct myself in the business world and you should visit his website, subscribe to his weekly column and read all of his books.  You’ll be a better person if you read some of Harvey’s wisdom.

Another book, Positioning, The Battle for Your Mind by Al Ries and Jack Trout began to open up my thinking about marketing and advertising beyond the idea of how to write a commercial.  Al and Jack have since gone their separate ways, but I urge you to pick up any or all of the books they have authored.  Jack’s website has links to his books and there’s more at Al’s website.

Fast forward a few years (about 15+) and I was introduced to the writings of Roy H. Willams.  Roy is the self proclaimed Wizard of Ads and is extremely knowledgeable about not just the advertising world but also the way to use what I call Human Relationship Principles in your marketing.  I have my own copies of his first 3 books which I need to read again.  Roy also offers them free as downloadable PDF Files. I also subscribe to his weekly newsletter which is also free.

Another author that you may have heard about is Seth Godin.  I’ve read most of his books and although I don’t always agree, I appreciate reading his material and comparing his thoughts with my own.  Seth also has a blog that he posts on daily that you can subscribe to.

In a world where it seems like everyone is trying to sell us on the new bright and shiny marketing tool, platform, or gimmick, I urge you to do what I have been doing for the past 3 decades and learn the basics that can apply to your life and business dealings.

Learn how to learn.

Learn how to think.

Learn how to discover your own thoughts, and formulas on how to do stuff.

Take the knowledge and wisdom from others and see how you might apply it to your life.

That’s what I call Collective Wisdom.

How to Convert $1 into $10 with your Marketing

I just finished reading an article on Medium about Influencer Marketing that claims, For Every $1 Spent on Influencer Marketing, A Brand Makes $6.50.

But they are wrong.

I’m not doubting the facts and figures they present, but I doubt that the return is what they say it is.

It’s too low.

But it’s impossible to accurately measure despite the rise in data collection and technology that links our lives and behaviors, there is still a missing link and that missing link is the human factor which makes it impossible to accurately tell us which piece of the marketing puzzle was the final one that inspired us to buy.

Truth be told, there are countless influences on each individual buying choice we make.

So instead of telling you which is the best form of advertising and marketing, I’m going to challenge you in a different direction with the purpose of  converting $1 into $10 with your marketing.

It boils down to what you do with a potential customer after they’ve heard/seen your ad. connecting-people

It’s about making the right connection with the follow through.

I’ll use an advertising partner of mine who will remain nameless today, but they are aware of what I’m going to share and I’m going to help them fix the problem.

This service oriented business was getting several phone calls from people that could have become customers but didn’t.

(I have access to some of their incoming phone calls and listened to a couple dozen of them recently.)

The service manager talked to a potential customer for 5 minutes without offering to schedule a service call to send a tech to diagnose the problem.  Instead he gave the person calling advice on what the problem could be and left it hanging…

Another call from a potential customer who was ready to book a service call but the scheduler led her down a different. complex path and again it was a lost sale.

That’s just two calls that I heard where the professionals in the business had potential customers call them and the result was not good.

It wasn’t good for the people who called because when they hung up the phone there was no plan to fix the problem they called about.

It wasn’t good for my advertising partner because they spent time on the phone and lost money (for the time) instead of earning money (by converting the call into a customer.)

This is not an isolated incident.

I dropped my insurance agent a few years ago, because he didn’t offer a solution to a problem.

Even the fast food minimum wagers are trained to ask if you want to make that burger a full meal.

Your job as a business is to offer a solution to people who are asking for help.

Most people will pay you for that solution.

You spend money to invite those folks to contact you.

Now you need to follow through and with those people who walk in your store, call your office or connect online.  Solve their problem, and they will pay you. They will also tell others about how well you took care of them.

You’ve already spent the money to get them to connect.  Earn that money back and you can start seeing a 10 to 1 return on your advertising and marketing.

The ONE Thing Business Owners Want And Need

In my couple of decades of helping business owners with their advertising and marketing, when you boil it all down there is only one thing that business owners need and want.

What is that one thing?ddddd

Customers.

Yep, that’s it.  Customers, people who will reward them by spending money with them.

Why is this important?

Money.

Everyone needs money to pay for the basics in life.

And we need money to pay for the extras too.

Advertising and marketing needs to always be thought of in terms of the bottom line, but money is not the bottom line.

That sounds like a contradiction but hold on a moment.

I spend money every week at a local coffee shop that I’ve been visiting since my wife first introduced me to this place 16 years ago.  I might look like another $3 cup of coffee to some folks, but that’s only when you look at me as a simple money transaction. Some days I am a $10 food and drink guy.

But when you look at me as a customer, my value changes.  Using the same price points I just mentioned, I spend at this one coffee shop $50 bucks a month or more. That’s $600 a year. Make that $6000 over ten years.  My guess is I’ve given this one coffee shop $10,000 or more so far.

Plus the countless meetings I’ve had where I introduced others to this coffee shop and they spend money too.

It’s not just the money, because we can’t really count the exact dollars.  Those numbers are guesstimates based on what I saw when I checked my bank statement a few moments ago.

It’s the extra value I bring as a loyal customer that has brought others to become customers too and they pay for food and drinks too.

Customers are where it’s at.  No customers and you have no business.

The advertising and marketing efforts need to be appropriate for what you are needing to attract and retain customers and to help those customers tell others about you in a positive manner.

Instead of trying to figure out if you need to be on Instagram, Pinterest, HGTV, the local 11 o’clock newscast or advertising with Rush Limbaugh, take a step back and understand that you simply need customers.

It’s my job to help you weave your way through the multitude of marketing and advertising options.  Want help?  Let’s talk.