64 years ago

64 years ago

It’s birthday week for yours truly.

And there’s not much that I want, because if I really want it, I usually buy it myself.

Of course the best things in life aren’t things that you can buy anyway.

I’ve been doing a lot more reflecting on things lately, compared to a few decades ago, even more than 5 years ago.

The Covid-19 pandemic of 2020 kind of turned some of us to become more introspective because at the beginning, there was so much unknown and conflicting information.  We were told that we just needed to stay home to flatten the curve for a few weeks and then as weeks became months, well you were there too.

25 years ago, I returned to Fort Wayne, Indiana to help my Mom downsize after the death of my Dad.   I was just 38 that summer and my Mom had just turned 65.  I’ll be that age next year, but my health is much better than hers was back then.

Last month, I happened to visit the radio station that gave me my first full-time on-air job as a teenager, and low and behold, there was a guy named Jim who had worked there all those years ago and he was there when I visited.  He was having a birthday that week and turning 75, and still working in sales and on the air.

A few days later, I had coffee with my friend Lee to talk about a client.  Lee’s a few years older than me and I’ve known him since I worked on the air at WMEE in my early 20’s.

And one more connection to my past happened back in October when I spoke to a college class at Trine University at the invitation of an old acquaintance of mine that I met nearly 20 years ago.  He’s a professor now and invited me to speak to his class.

There’s also been the death’s of a few friends and family members in the past few years that have made me introspective and finally, I think one of the last items that has influenced what I’m sharing today was the role I had in our company from early 2020 until a couple months ago.  I was the General Sales Manager of WOWO radio and then also a few other stations before returning to active sales a few weeks ago.   As the General Sales Manager, a big part of my role was to hire, coach, train, and mentor my team.  Now I get to lead by example again.

My desire is to pass along knowledge.  It’s kind of weird, because I’m a curious person looking to learn myself and so as I talk to my elders, I want to know what they can teach me.  And I’m at that age where I’m passing along and passing down what I’ve learned too.   In a moment I’m going to share with you some resources that helped me and could help you too.

But first I recall when I was about 30 years old and creating advertising campaigns for businesses in Detroit.  I had clients in numerous and varied businesses and I took what I learned from observation, from conversations and from experimentation, using their money and improved all of them.  There was a guy Steve who had a transmission shop, a doctor named Tim who was working with his wife to build a health care practice, another man named Mike who ran a rental car business until we transformed it into the best used car dealership in the area and another favorite was a family headed up by Ed and his wife Sharon who created a small mortgage company with their daughters and we transformed it into a debt-reduction vehicle for thousands of homeowners.

This website started out years ago as a blog to save stories and articles online in case my laptop crashed and burned, and has become a resource for others as well as a creative outlet still for me.

So besides this website which will live as long as I pay the hosting fees, there are a few others that I recommend.

I also need to add this disclaimer that I read a lot less books than I did 30 years ago.  Instead I listen, watch and research.  With podcasts and online videos being available in much greater accessibility that 30 years ago, you may find a format other than paper books to be a preferred resource too.

Here we go with authors whose books I’ve bought and read and recommend to others:

Sales Leadership: Mike Weinberg.  I’ve read three of his books and was a regular listener to his podcast when I was a sales manager.  I was part of his launch team for his latest book, First Time Manager: Sales.  Check him out here: https://mikeweinberg.com/  

Marketing guru Seth Godin.  A thought leader and I see he also has a podcast that I’m going to subscribe to:  https://www.sethgodin.com/   

Roy H. Williams, aka The Wizard of Ads, besides his books on marketing, he publishes a weekly newsletter called the Monday Morning Memo that includes a rabbit hole that often is fun and intriguing. http://www.rhw.com/youll-laugh-youll-cry/ is the link to his books and here’s the link to his MMM: https://www.mondaymorningmemo.com/

Art Sobczak has sales books that I’ve bought along with a podcast and blog at: https://businessbyphone.com/

There are three others that I’m going to recommend that had an impact on my 20, even 30 years ago:

Harvey MacKay https://harveymackay.com/   Harvey’s first two books on sales were so influential that my first year as sales manager I gave my team their own copy of them for their own use.

Trout & Ries.  Al Ries and Jack Trout launched a series of books on Branding and Marketing in the 1970’s that I discovered when I started in the ad world in 1986.  Al passed away just last year and his partner and daughter continues his work. https://www.ries.com/books/

The last recommendation is a book that I re-read every few years as a reminder of how to approach sales. Frank Bettger penned the book How I Raised Myself From Failure to Success in the 1940’s and here’s an Amazon link: https://www.amazon.com/Raised-Myself-Failure-Success-Selling/dp/067179437X 

I urge you to be curious no matter how young or old you are and continue to seek knowledge and share with others too.

 

Make The Right Adjustments

Make The Right Adjustments

“We gotta do something”

That’s been the theme for 2022 from many business people.

So they prepare to Make Adjustments.

Making Adjustments is neither good or bad.  Actually it is something that all of us are doing all the time.

The question that often comes up is “What adjustments are we going to do?”

I urge you to stop for a moment and take a few deep breaths before making any decisions.

As hard as it is, now, more than ever, is time to remove emotions from your decision making process.

Emotions can be temporary, and decisions can have lasting consequences.

If you are running a business and you don’t have a strategic plan in place, it’s time to create one.

If you have a plan, but it was created before March 2020, it’s time to review it and see if it needs updated.

If the plan you created isn’t working right now, it’s time to see why and take a look at the whole picture.

For nearly 6 years I have served on the Board of Directors of Homebound Meals of Fort Wayne and I am in my final 6 months.  Besides myself, there is one other board member who has been there as long as me and his term expires early next year like mine.  The organization has been around since 1971 and during that time there have been dozens of board members, hundreds of volunteers, and thousands of recipients of the lunch time meal program.

Their mission has never changed.  The strategy and tactics used to fulfil the mission have certainly evolved over time including the last few years.  I am confident that the partnership between the board and Executive Director will keep the organization around for many more decades as people come and go.

Making the right adjustments is also something I have seen take place at the church my wife and I attend.  We’ve been members for nearly 20 years and have seen numerous changes take place in leadership as some Pastors retire or are called to other places to serve.  Besides the church, we also have a school and they have had people changes too over the past 77 years too.  This summer their Executive Director, Mark Lange stepped down to move forward with other areas he and his wife Sue are being called.

I bring up Mark’s name specifically because I’ve known him and his wife Sue since I was 13 years old and we went to the same high school.  Our church and school, Holy Cross Lutheran in Fort Wayne was going thru some transitions that many older churches have gone thru and that was simply changes in the make-up of the congregation that was part of what was going to have an impact on the finances of the church and school.

A few years ago, I was one of a dozen who were asked to serve on a task force to explore the future needs and future circumstances using demographic studies, internal surveys, and antidotal stories.  Mark showed me how each year we had a financial plan and each week he would release numbers that showed how our income compared to the plan. He also included the actual expenses which were the reality of what was spent and I learned in my conversations with Mark how we were making adjustments as the year progressed.  Besides having the initial plan or budget, we also had a plan on what adjustments to make as needed.

No matter what business you are in, there are a few things you need to always include in your plan:

  1. Products and Services to sell
  2. Have the People and Infrastructure to create those Products and Services
  3. Invitations to potential customers to buy your stuff and ongoing marketing to keep those customers.

Some of you have had to change the portfolio of products or services you sell.  I’m not talking about completely abandoning everything, I’m talking about making adjustments. Fast Food places that were short staffed ran drive-thru only and closed their dining rooms for awhile.  Some restaurants limited their menu to their best sellers.

I’ve also seen some of you expand and not shrink.  Two ways to do this have been to add more products to sell to your customers.  One company added a second business that went hand in hand with their primary business and it’s created more opportunities.

The other way to expand has been to raise prices.  Too many businesses have been afraid to pass along increases to their customers because they were afraid of losing customers.  But inflation is one of the biggest headlines of 2022 and you really need to pass along your additional costs to your customers.  They are expecting it.  No, they won’t like it, but they will understand, (most of them).  You will also lose some.  A few years ago I told one of my clients that she needed to raise her prices which she resisted at first for those same reasons. However this is the ideal time to do it.

Some of the adjustments you may be tempted to make is to cut your advertising.  To which I say, maybe.  However the answer is probably maybe not.

It really depends on your overall strategic plan, not just current circumstances.  While I sell advertising on WOWO Radio and lead a team of advertising sales pros, I’m also a marketing and advertising consultant.  I want what is best for you and your company now and for the future.  If we can help with using the advertising resources of WOWO radio and our online options… great.  But I don’t want you to buy advertising from us or anyone that isn’t in your best interest.

More on what happens when you cut advertising in a future article.  For now, I urge you to Make the Right Adjustments for the Right Reasons, based on a Strategic Plan, not emotion.  Need help?  Contact me.

Is Generational Relatability An Issue?

Is Generational Relatability An Issue?

We’re going to talk about generational differences today and how they impact our relationships with others that are older or younger than us.

Last month, Mediapost shared a Quick Refresher on Demographics and that was part of the inspiration for this along with some stuff going on in my own life.

First, I’ll reveal me:

Baby Boomer, graduated from high school in the late 70’s.  I was alive when JFK was shot but have no memory of it because I was a toddler.  During most of the 60’s, I was not aware of the political turmoil or cultural revolutions that were going on.  I was just a kid.

Watergate was the first time I really noticed much about political stuff.  When Nixon resigned, I was becoming a teen and was more into teen stuff like girls and music than adult stuff.  Musically I was into Top 40 and those songs from the mid 70’s to mid 80’s were the foundation for a couple of reasons.  1st, was listening to the radio as a kid and then I was a teenage disc-jockey from age 16 to 25 on the radio for a decade before moving to the advertising side of broadcasting in Detroit in the late 80’s.

My wife is 8 years older than me and most of her friends are around her age, not mine.  We’ve been married for a couple of decades and I would tease her about stuff that happened “before I was born”.  Yet as we get older, we’ve realized that those 8 years are not as significant compared to other generations.

Our 5 kids (from our first marriages) were all born in the 80’s and most of them have kids so there’s another generation in our family now.

I recall 20 years ago when I took a break from media and marketing and learned how to run a thermoformer in a plastics plant that the people working for me were closer to my kids age than mine and that was one of the motivating factors to return to radio and get out of the very physically demanding factory world.

Now at the broadcasting company I work for, we are hiring people that are 10 years younger than my kids.  While it kind of makes me feel old at times, I’ve also enjoyed the role I play as a leader, mentor, and coach.  Plus I can still out perform many of the advertising account executives in our company, but that is not my focus.

So as you and I move forward in 2022 and the years ahead, it’s important to understand some of the differences in generational relatability that I’m about to share.  A dozen years ago I was a guest speaker on personal branding to a group of Huntington University students and realized that an example I used of TV personality Larry King was unrelatable, so the following year I updated my presentation to fix that.

Here’s the Mediapost story:

In 2018, the Pew Research Center determined that 1997 was the starting date for Generation Z. Anyone born from 1981 to 1996 is deemed a millennial, and anyone born since 1997 is a Gen-Zer.

At this point, the oldest Gen-Zers are turning 25 this year and the rest are teens or younger. (The cutoff for Gen Z births appears to be 2012.)

Among the differences between Gen Z and millennials (also called Gen Y) are:

–       Most Gen-Zers have little or no memory of 9/11. Instead, they grew up with lines clearly drawn between the political parties after the event.

–       Generation Z is the most ethnically diverse generation in U.S. history. The next most-diverse generation is millennials. Some 52% of Gen Z is white, 25% is Hispanic, and 4% is Asian, again according to Pew.

–       The iPhone launched in 2007, when the oldest Gen-Zers were 10. They came of age as social media, mobile computing and constant connectivity were part of the landscape.

–       According to a 2021 survey, the top brands for Gen Z were Google, Apple and Amazon. Netflix, Chick-Fil-A and Vans came in after that. But that survey is far from definitive. Others have put Nike at No.1, Netflix at No. 2 and YouTube at No. 3.

For millennials, the top brands were Apple, Nike and Amazon, according to marketing firm Moosylvania. Google was No. 8.

In other words, there doesn’t yet appear to be a deep divide between Gen Y and Gen Z.  That contrasts with the divide between Gen X and Baby Boomers, which was driven by some big differences. Baby boomers currently comprise 70 million people, versus 65.2 million for Gen X, according to Insider Intelligence. That doesn’t seem like a huge difference, but Gen X was marked by a “baby bust” mentality that sported attitudes of cynicism and skepticism after the euphoria of boomers.

Baby boomers also had a clear starting point (the end of World War II) and ending (1964, when the birth rate began falling). Since then, the delineations between generations seems somewhat arbitrary. As a result, those expecting a huge chasm between Gen Y and Gen Z may come up short.

Some additional insight as you consider all of this is to not make broad assumptions about someone because of the generation they were born into.  I am much more active than my son when it comes to online behavior.  I was also an early adopter compared to folks 10 to 20 years younger than me.  I had to push and pull some of my former co-workers to move forward with certain things that they thought were just a fad, but clearly were much bigger and longer lasting.  Twitter is the example that comes to mind.

Want to know more or do you have some insights to share?  Contact me.

The Trust Factor

The Trust Factor

A couple of Thursday mornings ago, a couple things happened before 8am.

An email from Insider Radio that included the headline:

Americans May Love Social Media, But Survey Finds It’s Radio That They Trust.

Also it was the beginning of day 2 of a weather-induced work from home day as our area was getting non-stop snow with predictions of well over 15 inches which becomes much more severe when the winds kick in and “drifts up to 4 feet” were predicted by the national weather service.

(I heard that prediction listening to my local news/talk radio station WOWO.)  We ended up with a little less and by Friday, I was back at the office and by Monday most of the rest of the city was back to normal.

Social Media has been the darling media that normal Joe’s and Jill’s turned to for communication to the masses.  What began with MySpace and then Facebook, Twitter, Snapchat, Instagram and numerous others became the bright and shiny new place for advertisers to run ads.  Promises of “hundreds of people for mere pennies” and “trackable results” along with “targeted ads that produce less waste” were all made and continue to be made.

To which I can say, not really.

Look,  I am speaking from a multitude of perspectives.  Yes, I’ve spent the majority of my career in radio.  However a couple of times I worked full-time in the online world.  First time was 2011 when I anticipated never returning to radio and instead I was highly immersed in the digital world where we crafted websites that were built to convert traffic into sales.  We looked at, what appeared to be heat-map technology and a deep dive into analytics to design websites that improved the UX or User Experience and so I know how that is done and not just the technology but psychology behind it all.

I also worked full-time for a multi-million dollar world-wide company that transitioned from a print catalog sales model to an e-commerce based outfit.  I was one of a half dozen specialists in the Internet Marketing Department and my chief role was Social Media for our multiple brands.

Then there is my own personal success story of creating an online following and connections with the ScLoHo brand identity, so I am a believer in the power of online and if you and your business can’t be found online… well you simply don’t exist.  Get your company a website now.  Claim your social media profiles for you and your company.  LinkedIn, Facebook, Instagram at the bare minimum.

However, if that is all you do, the online stuff, you are being short sighted and leaving yourself very vulnerable.

It was just announced that Facebook actually lost members recently.  That’s right the biggest Social Media company in the universe, saw a decline.

But that’s not the real reason you are vulnerable.  It has to do with the Trust factor.

A dozen years ago I was giving a presentation to students at Huntington University and part of the discussion demonstrated the good stuff that was happening on Facebook.  I used the example of my friend Heather who was looking for a new dentist for her family and so she asked for recommendations.  Dozens of friends responded with both recommended dentists and a few to avoid. This was modern day word-of-mouth and crowd-sourcing done on a personal level.

However when companies tried to tap into the social networks by running ads, it just wasn’t the same. It was an advertisement, not a personal recommendation.  Like so many other forms of advertising, except it started to become annoying because all we wanted to do was see what was going on with our friends and family and instead we were being served ads every few posts on our newsfeeds. I just took a look at my Facebook newsfeed and of the first dozen posts, numbers 2, 7 and 11 were ads.

Another factor creating distrust in Social Media is the political climate for the past several years.  I think it has intensified online when we were limited in our ability to gather in-person due to pandemic restrictions.

Here are some quotes from the story I referred to at the beginning of our talk today:

A new MRI-Simmons survey finds that nearly two-thirds of Americans say radio is either “very trustworthy” or “trustworthy” with radio topping every other media type other than newspaper – trailing by a mere one percent difference.

Also:

More than twice as many adults consider radio trustworthy compared to social media. When it comes to fake news, it seems Americans have concluded it is not traditional media outlets that are the source, but rather online media options.

And finally:

In its analysis, Katz says the MRI-Simmons research shows why radio is an “ideal platform” for advertisers looking to make their voice heard and their message count. “Radio is a trusted environment with vested local connections to consumers across demographics, and all types of media users,” it says, adding, “Radio provides the best chance for messaging to break through, resonate, and not be mistrusted by consumers.”

Contact me for more information and insight.

Brand Building in Dollars and Sense

Brand Building in Dollars and Sense

Did you notice the title of this article has a play on words?

Or did you think it was just a typo?

Brand Building in Dollars and Sense with the word Sense spelled not like the cents we use to refer to money but as sense, as it makes sense or common sense which people say isn’t common anymore.  I wonder if my grandparents said that too back in their day.

Anyway, I was reading a couple of different online articles, one from Roy H. Williams, the self proclaimed Wizard of Ads.  Roy is a couple years older than me, and has created quite a reputation for media and marketing over the past few decades.  He has a free weekly email called the Monday Morning Memo that I subscribe to and if you click on the picture in the email, you travel thru the rabbit hole created for that week.  It’s an interesting journey most weeks.

On Monday June 21st, as I traveled thru the rabbit hole of the Monday Morning Memo, Roy shares the story of a client of his.  I’m quoting Roy here:

One of my clients asked me to explain our marketing strategy to a guy from a private equity firm that is hoping to buy a chunk of my client’s company for a few hundred million dollars.

When we were retained 7 years ago, the company was bringing in barely $9m a year. Using radio as our primary driver of new business, we did nearly $250m in 2020 and are tracking to surpass $300m in 2021.

Did you catch that? In 7 years this company grew from 9 million in sales to over 300 million dollars this year and advertising on the radio is the primary driver of new business.

Here’s more of Roy’s story:

The private equity guy suggested that we should redirect our radio budget to online advertising because, “no one listens to the radio anymore.”

Now Roy goes into a lengthy and detailed explanation of how radio ratings work and how they know from the ratings service that the private equity dude is wrong.  Then he decides to use not just statistics, but the real life example of this particular company.

“The objective of a radio campaign is to become the name the listener thinks of immediately and feels the best about whenever they need what we sell. Today’s ads aren’t meant to sell customers today. Today’s ads are just one more tap of the hammer as we drive our message into their minds. We want to achieve automatic, involuntary recall. Scientists call it ‘procedural memory.’”

And here’s where it gets really good.  Roy asks the companies online marketing manager about the traffic they get to their website and she tells them there are just 10 search strings that make up most of the traffic to their website.  The top 9 all include the name of the business. That is what the radio ads are doing… Branding the name of the business so when a potential customer needs the product or service, they Google the name of the company to get their contact information.

That last search string that drives people to their website amounts to just 5% of their website clicks.  It uses a more generic search string that doesn’t include the company name.

Roy Williams continues:

So without the name recognition and goodwill built through radio, we would have done only 12-and-a-half million dollars last year instead of 250 million dollars.

That’s some real dollars there and it makes a lot of sense, right?

Don’t just take my word or the words of Roy H. Williams, the Wizard of Ads.  I also read about the benefits of branding from an article published in June from Nielsen that uses the classic buying funnel example.

WHEN IT COMES TO BRAND BUILDING, AWARENESS IS CRITICAL

The title of the article and the information point out why what Roy was saying works. Targeted online ads may be one of the ways that companies get traffic to their website, but unless their is familiarity of the company or product, we are not likely going to click on it.  This familiarity is  what brand building does and it’s at the top of the buying funnel.

This Upper Funnel Marketing is actually the foundation that will drive future sales because the future buyer is aware of the company before they have a need.  60% to 80% or more of your radio ads in most cases should focus on Upper Funnel Marketing.  You may never need to spend money on the Lower Funnel Marketing which is the conversion stage because if we as marketers do our jobs building the brand reputations, the consumers will actually convert themselves when they have the need or want.

Want to know more about building your brand and growing your business for the future, not just this months sale?  Contact me, Scott Howard.  Drop me a note to Scott@WOWO.com.