10 Marketing Predictions for 2010

FastCompany.com – Excerpts from a December 23, 2009 Blog by FC Expert Blogger David Lavenda

1. Increased competition in a tight market, coupled with the signs of an economic recovery, will prompt companies to invest more in marketing; but companies will want better metrics for how dollars are being spent to contribute to the bottom line.
2. As the number of smart phones balloons (Gartner predicts 1.2 billion smart phones will be in the field by the end of 2010), the mobile channel will become a critical one for marketers.
3. Social marketing progresses on the hype cycle. Marketers will realize that social marketing is not free, and it is not a panacea for reduced budgets.
4. Email is far and away the most popular marketing channel and it will continue to be so as Forrester Research predicts email marketing to grow by 11% CAGR over the next four years to reach a $2B market by 2014. Savvy marketers will be increasingly challenged to find ways to “cut through the noise” and not be filtered out, either automatically by SPAM filters or manually, by the dreaded DELETE button.
5. Marketers’ attempts to reach consumers via popular social tools like Facebook and Twitter will improve and will become less obtrusive.
6. A new social tool or application will become the darling of 2010. Just like Facebook and Twitter before it, a new social tool will capture the attention of those always looking for the next thing...standby!
7. It will become easier to create mobile and social applications that run on multiple platforms without having to create one dedicated app for each one.
8. The use of virtual meetings and webinars will expand. During the current downturn, companies have learned how to effectively use virtual meetings to reduce travel costs and improve efficiency.
9. As the number of marketing channels increases to include social and mobile applications, the need to measure responses and understand the contribution of each channel to the marketing mix will become critical.
10. Tools to measure marketing activities will continue to improve, and new ones will appear on the market. Interbrand expects this to be a $1B market. With the availability of these new tools, marketers will be able to better analyze (and therefore justify) their marketing budgets, based on meaningful metrics.

Why PR matters in a down economy

The top 10 reasons why public relations matters, especially in a down economy are as follows:

1. Credibility: With public relations, unbiased decision-makers can tell your story for you. Be it traditional media, Web-based communications, word-of-mouth, etc., the personal nature of the communications between individuals adds a layer of credibility. Research points that it is more believable because the communicator is speaking honestly and is unlikely to have an ulterior motive (i.e. they are not trying to sell you something).


2. Value: Public relations provides better ROI than most other forms of communication. Sometimes a simple phone call to an editor can result in a story that reaches numerous people and is worth thousands of dollars.


3. Perception: No other form of communication can persuade and change public opinion more effectively than public relations.


4. Trust: Consumers are constantly looking for trustworthy sources now because there is so much negativity surrounding the economy. PR professionals are trustworthy sources for companies and consumers.


5. Message strength: Public relations allows you to say many things that you can't communicate in an advertisement or on a billboard. A feature story, press release, blog post, etc., can tell a much deeper and broader story.


6. Relationships: Due to the declining state of most traditional media venues, there’s a need for PR pros with solid editorial connections that can also work well with a newsroom staff, understand how the media operates, understand AP Style, and know what makes a good story for readers/viewers/listeners.


7. Short-term versus long-term: Don't sacrifice long-term marketing objectives because of short-term financial problems.


8. Facts & speed: These go hand-in-hand in this day and age, and it behooves PR pros to make sure the facts are checked and that trustworthy sources are used — inaccuracy can be fatal when so much emphasis is placed on transparency.


9. Don't play hide and seek: Be seen and be heard - in good and bad times. It will build trust, credibility, and relationships - and will pay you back tenfold when the economy improves.


10. Bite into market share: There is no better time than now to bite into your competitor's market share.

Remember to invest when others aren’t – by staying engaged with your audience through PR. More important, your company is building relationships that will grow and pay off even more when times are good! Let PROFIT Communications know how we can help your company ‘stand at the ready’ in these challenging economic times using PR strategies and tactics.

Bonus Point Source: PRWeek US – April, 2009

Why People Go Online

If idle hands are the devil's workshop, the Internet is a pretty 'hot' place!

According to Ruder Finn (one of the world's largest PR agencies), 100% of the US Internet users surveyed in Q2 2009 went online to pass the time.

Top 10 reasons that US Internet users go online [% of respondents]

1. Pass time 100%
2. Educate self 96%
3. Connect with others 92%
4. Research 89%
5. Share 86%
6. Be entertained 82%
7. Keep Informed 79%
8. Discuss 76%
9. Be part of a community 72%
10. Work (business) 69%

Source: Ruder Finn, 'Internet Index,' 6/29/2009

The least common intentions when logging on were to make purchases, manage finances, comparison shop and join causes.

"Intent is the new demographic," said Kathy Bloomgarden, Ruder Finn co-CEO. "Delving deeper into the underlying motivations of online behavior is critical to developing proactive strategies."

Overall, the agency divided online activities into six categories, listed from most common to least:

• Learn
• Have fun
• Socialize
• Express oneself
• Advocate
• Do business
• Shop

Men were more likely than women to go online for business, entertainment and to keep informed on news and current events.

Women, in turn, were more likely to use the Internet to advocate for a cause or issue, express themselves and socialize.

More than two-thirds (69%) of young adults ages 18 to 29 posted comments on social networking sites, 55% played games and 50% went online "specifically to rage against a person or organization."

Seniors were nearly twice as likely as young people to manage their finances, and 65% of seniors went online to be part of a community.

PR Bonus Point Source: www.eMarketer.com

The Truth Behind Six Social Media Myths

It's no longer possible to resist social media, writes B.L. Ochman for BusinessWeek. However, it's important to recognize six social media myths before jumping in:

1. Social media is cheap, if not free. While many of the tools come at no cost, effectively incorporating them into a marketing program requires skill, time and money.
2. Anyone can do it. Many people claim to be "social media gurus," but hype doesn't compare to experience.
3. You can make a big splash in a short time. Social media can drive traffic if people care about your brand-otherwise, be patient.
4. Your can do it all in-house. To be successful, you need strategy, contacts, tools and experience - "a combination not generally found in in-house teams."
5. If you do something great, people will find it. Until you can drive traffic to your content, no one will know it's there.
6. You can't measure social media marketing results. There are several methods that measure the effectiveness of social media, including Google Trends, Twitter search, Google Analytics, BackType and Compete.

Reprint from pr blotter - PR Tactics, April 2009

RESEARCH: Creating PR Project Value and Success

When racking my brain recently to replenish PROFIT's depleted supply of PR Bonus Points to share with our online readers, an article on the value of integrating research into communication projects surfaced. It took a split second to make the decision to simply devote this web page to a two-part series on the importance of RESEARCH…the key to strategic public relations and marketing communications.

Part II.
Let's take a closer look at some of the key research terminology involving the methodology that often seems to create confusion. There are two general types of research:

• Quantitative research - yields numbers and statistics. The results can usually be extrapolated to the general population. One of the most common forms of quantitative research is a survey. Surveys can provide important insight into attitudes, opinions, motivations and self-reported behavior.
• Qualitative research is exploratory. It helps to identify the variables, such as opinions, attitudes and behaviors that are contributing to an issue.
• Data can be obtained through both primary research (research that you conduct yourself) and secondary research (information from other sources).

Getting Management On-board with Research.
Research needs to be built into the project plan of action and the budget. And convincing management about the value of and the need for conducting public relations research might be the single most important component in the overall public relations plan of action from a return on investment (ROI) standpoint.

Considerations for Internet Research.
The Internet is rapidly becoming a popular cost-and-time efficient research tool. Many affordable do-it-yourself survey tools are readily available including: Constant Contact, iContact, Zoomerang and Survey Monkey, just to name a few. All provide tremendous cumulative reporting and tracking features and benefits as well.

Remember…research is the key to strategic public relations and marketing communications. It informs strategy, establishes benchmarks for improvement and speaks the language of management, which is primarily numbers. The trick is in knowing what to measure and finding the best tools to gain insight and demonstrate impact.

PROFIT Communications Research Expertise Combined with Information from Article from PRSA Tactics -- RESEARCH: The Cornerstone of Value Creation
October 2008

RESEARCH: Creating PR Project Value and Success

When racking my brain recently to replenish PROFIT's depleted supply of PR Bonus Points to share with our online readers, an article on the value of integrating research into communication projects surfaced. It took a split second to make the decision to simply devote this web page to a two-part series on the importance of RESEARCH…the key to strategic public relations and marketing communications.

Part I.
In order to better understand and conduct effective research it's imperative to identify the ways that it can make or break the success of PR/Marketing Communications programs.

RESEARCH Fast Five:

• Every Public Relations program ought to build into the budget a low, medium or high range of research to guide the development of the goals and objectives and to influence other key project decisions.
• Research can be used at any point in a plan to refocus or explore developments, but typically it is used at the beginning of the communications planning process to identify the core problem and develop objectives (formative research), and during the evaluation phase to measure results (summative or evaluative research).
• Research can take the guess work out of how best to construct the PR program within the given timeframe and allotted budget.
• When in doubt and too many questions associated with the program are left unanswered…use research.
• Hands down…the best strategic PR project investment directly tied to results is research.

Coming in December - Part II.
Learn more about the two general types of research to conduct, getting management on-board and using Internet research, just to name a few.

PROFIT Communications Research Expertise Combined with Information from Article from PRSA Tactics -- RESEARCH: The Cornerstone of Value Creation
October 2008

Did you know… STAR POWER

The percentage of Americans who say celebrities/V.I.P.s can make a positive difference to issues and causes they're promoting:

A large difference 11%
Some difference 33%
A little difference 27%
No difference 24%

Source-Harris Poll By Nick Galifianakis

Networking - Committed to the Vision

Networking needs to be done constantly, i.e., in both good and challenging economic times. Whether in person, online, by phone or by mail, it needs to be done systematically and with a purpose. By following the tips below, you can efficiently maximize the benefits of all networking.

Networking Fast Five:

• Be goal-oriented. Determine what events will offer opportunities to meet people who can help you reach your goals and objectives.
• Be systematic. Use your specific manual/electronic database system(s) to record notes about those you meet. Send a follow up e-mail or personal note with a brief conversation recap followed by an action-oriented next step to create relationship development momentum. Add additional notes to your specific database system as you learn more.
• Never stop. Before new meetings, review your notes on anyone you might see. Add new information to your database and send e-mails to those who did not attend, sharing something about the meeting that could be of interest to them.
• Find a mentor. Attend appropriate events to find people in your field who could help you learn more about your field. People love to be considered experts, and usually respond well when you treat theirs as an authoritative opinion.
• Say thank you. Keep the relationship alive by staying in touch with an occasional IM (Instant Message), e-mail, text message or something novel like an old-fashioned phone call to schedule a meeting over breakfast or lunch.
  
  

Making Mistakes: Rebound, Recover & Learn from Them

Growing up, we're given mixed messages about mistakes. Making them is necessary to learn, we're told, but we ought to avoid them anyway. As The New York Times reported last November, children are taught that great inventors like Thomas Edison embraced mistakes, but good grades in school are a reward for doing things right, and wrong answers can invite ridicule from classmates.

As we age, many of us invest heavily in being right. When things go wrong, we flagellate ourselves, blame others or try to cover it up. We're usually not interested in learning from experiences.

According to Dan Meyerson, senior vice president of leadership and development, Bank of America, "I always say, 'Bask in the glory of your mistake.' In other words, be comfortable with it and show others you can come back even stronger after making a mistake. It's important to show that it won't affect your self-esteem."

"If businesspeople are not making a certain number of mistakes, they're playing it too safe," explains Paul J.H. Shoemaker, marketing professor at the University of Pennsylvania's Wharton School. "There needs to be more of a focus on processes versus outcomes."

Four Steps for Recovering from Mistakes

1. Process the mistake.
2. Own the mistake in its entirety.
3. Show remorse.
4. Plan how you will ensure that the same mistake doesn't happen again.

'In the Know…New, Emerging Communication Trends'

Effective Web Writing


Writing for the Web differs from writing for hardcopy! The trick to getting it right on the Web is in presenting text in a style compatible with how readers read online. Follow these criteria to ensure that your readers get the message you send:

Online readers:

• Read 25 percent slower from a computer screen
• Generally don't read word for word - they scan
• Dislike large blocks of text

Further:

• Be succinct. Write no more than half of the text you would for hardcopy.
• Write for scanability. Users skim what they read online.
• Use headings, highlights, bullets and hypertext to draw your readers in to the text.
• Be excellent in the mechanics of your writing.
  
  

'In the Know…New, Emerging Communication Trends'

The Business Value of Social Media is Priceless

Services such as Facebook, MySpace and LinkedIn all provide an online means of building interpersonal relationships, and face it, most of us are in the relationship business. Bonds are built among users based on everything from shared interests to what happened on your last vacation - an online version of the chat by the water cooler. As people continue to participate on these sites, the effects will be noticed - as indicated in a recent survey*, the percentage of journalists who say the emergence of social media has a significant impact on the:

• Speed of News 73%

  Availablity of News 69%

  Tone of Discussion 62%

  Editorial Direction 51%

  Quality of News 43%

Usually thought of in a social context, it's time to explore the business value inherent in such social media as it:

• Helps you stay better connected to your personal and professional networks
• Provides a great way to communicate with people already using social-networking web sites
• Business applications haven't taken off the way social applications have, yet, considering that we're in the early days of even having such new, niche media.

*Source: Brodeur Strategic Planning Group

'Stay the Course' Communication Survival Tips

1. Hire an independent, award-winning PR/Marketing Communications firm like PROFIT Communications who can provide:

- Senior-level talent
- Personal attention
- Value
- Flexibility

2. Establish a realistic budget that you can work within.
3. Set goals. Put your goals in writing. An unwritten wish is just a dream. In writing, it's a commitment -- a goal - that's more likely to succeed.
4. Build your network. And start with the people you do know, as people with the largest circle of contacts, mentors and friends over time create lasting relationships that can eventually translate into new, exciting business opportunities.
5. Create innovative, new streams of revenue for your company or organization. For example, identify and market a different product or service that your business offers, in addition to your core mix.
6. Hone your speaking skills. Schedule speaking engagements to appropriate audiences to get the word out about what you do…in other words, create initial buzz and excitement about your products or services.
7. Develop a mentoring program. The idea that sharing what you know and learning what others have to teach is just smart management. Further, no process in history has done more to facilitate the exchange of information, skills, wisdom and contacts than mentoring.

Increase your Influence with Positive Speech

It seems that negative words weigh five times as much as positive words. Negativity is memorable.

Using positive language will simplify your life by eliminating the following eight problems of negative language:

• Negative language is non-communication
• Negative language is destructive
• Negative language causes defensiveness
• Negative language drives communication out of control
• Negative language causes intellectual deafness
• Negative language never brings closure
• Negative language never achieves victory
• Negative language weighs more than positive language

The major benefits associated with using positive language include:

• You are in control. Using positive language helps people know what to do, what the limits are, what their assignments are and what remains to be done.
• Conversations are shorter when positive language is used. Negative language brings confusion and causes conversations, meetings, discussions and disagreements to go on and on.
• Relationships are improved through positive language. This is because the confusion caused by negative language is eliminated.

Using People-First Language

Respectfully use people-first language when referring to an individual with an illness or disability. By putting the person first (proper name, or child, man, woman, etc.) and the disability next, you focus on who the person is and then note what the person has: "child with Down syndrome" NOT "Down syndrome child."

What is Viral Marketing?

What does a virus have to do with public relations and marketing? Viral marketing describes any strategy that encourages individuals to pass on a PR/Marketing-oriented message to others, creating the potential for exponential growth in the message’s exposure and influence. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions.

Off the Internet, viral marketing has been referred to as ‘word-of-mouth,’ “creating a buzz,” “leveraging the media,” “network marketing” and “permission marketing.” But on the Internet, for better or worse, it’s called “viral marketing.” While others have attempted to rename it, to somehow domesticate and tame it, the term “viral marketing” has stuck.

*The classic example of viral marketing is Hotmail.com, one of the first free web-based email services.

Like tiny waves spreading ever farther from a single pebble dropped into a pond, a carefully designed viral marketing strategy ripples outward extremely fast.