Media Chaos

Mortgage Companies Advertise for Business

noreply@blogger.com (Radio Ed) — Mon, 25 Feb 2008 21:11:00 +0000

The New York Times report in this article about how mortgage companies continue to advertise despite the subprime fiasco and the housing market because it continues to generate much-needed business. Naturally, the focus is probably on targeting qualified leads such as "re-fis" as opposed to first-time homebuyers and just anyone wanting to buy a house (these leads will be increasingly harder to qualify for loan products).

So, for any mortgage companies in the SF Bay Area reading this, how are you going to advertise to generate business or will you trying to 'hang tight' and risk closing shop while waiting for the market to 'come back'. I've got a couple ideas for you and they have worked and continue to work for mortgage companies. You can shoot me an email here.

Another Marketer's Take On Effective Radio

noreply@blogger.com (Radio Ed) — Fri, 04 Jan 2008 00:56:00 +0000

Kim Gordon on Entreprenuer.com wrote a great article on the 4 Keys to Radio Advertising. She's on the mark with most of her points, but I'd like to comment on her last point about entertaining the audience.

First off, it all goes back to figuring out what will grab the attention of your target and get them to listen. If you do an entertaining commercial for entertainment's sake, you run the risk of producing one of those countless funny ads that you can't even remember the name of the advertised company.

Think jingles are outdated? Well, they can work. "Food Max, take it to the max. Maximize your shopping power, FOOD MAX!"; "Paramount Equity, lending with expertise. Paramount Equity MORTGAGE". Half those cell-phone 'slice-of-life' ads all sound the same. Just don't irritate your audience and you'll be off to a good start.

Crashcourse in Media Advertising

noreply@blogger.com (Radio Ed) — Thu, 03 Jan 2008 21:21:00 +0000

I'm not going to re-invent what's already out there, so I'll let Comcast do the bulk of the talking. They have conveniently put a list of advantages/disadvantages for different media advertising on their website here.

A couple basic things to note about radio that's not included as well as cable. First off, while radio isn't geographically targeted, if enough people in your area are listening to a station, you can bet that it would be very effective for your business. Also, people in the San Francisco Bay Area drive, alot. Going from county to county is no problem. And if e-commerce is a big thing, radio is a fantastic medium for burning websites into people's heads.

In fact, that's one of the biggest things that people forget: you learn about a name or website from 'hearing' it as opposed to 'seeing' it. Radio can launch your company name (google hits) and boost your keyword searches as well as your website hits.

Tough thing about cable: hard to get the reach since the audience is so fragmented. Plus, on major networks, you have to check what the inventory is to make sure that you're getting enough frequency on your advertising. Remember, anyone working isn't watching TV at home from 9am until 6pm. Radio reaches people, especially working people, at more hours of the day than cable or TV.

3 Top Marketing Trends for 2008

noreply@blogger.com (Radio Ed) — Wed, 02 Jan 2008 23:37:00 +0000

Andersen Analytics conducted a survey entitled, "Top Marketing Trends for 2008". The survey was done with 1700 members of the Marketing Executives Networking Group. Here were the top 3 trends:

1. Marketing Basics was rated "very important" by 60% of the respondents. This covers customer satisfaction, retention, segmentation, brand loyalty, etc.

2. Search Engine Optimization was next with 42% of respondents.

3. "Green marketing" rounds out the top 3 with 32% of respondents.

What does this all mean regarding media?

One, companies need to have a solid online presence. Not only do they have great looking and functional websites, they also need relevant content to 'pop' in search engines. And, unless they want to be in bidding wars with compettitors for keywords, they are going to have to figure out some alternative ways to build their brand so that people search for the company brand name instead of generic words and phrases.

Two, companies need to figure out how to position themselves as 'green' and not fall into a trap of looking like a 'green washer'. More importantly, perhaps it is more important to focus on where the green consumer is or how to properly promote 'green features' to consumers with 'green sentiments'.

You can download the press release from Andersen Analytics here:
http://www.andersonanalytics.com/newsfiles/20071127.pdf

Tips for Using Radio Effectively

noreply@blogger.com (Radio Ed) — Tue, 01 Jan 2008 04:47:00 +0000

Admittedly, I often hear that radio advertising doesn't work. What these people often don't realize is that radio DOES work; they just have yet to find out how to use it effectively. In fact, there are people who love and primarily use radio. For example, Tom Shane, a jewelry retailer in the Bay Area, uses only radio to drive traffic to just 3 of his local Bay Area stores. Here are some basic tips (I will post a lengthier guide soon) to get back on the right track.

One, "Monkey See, Monkey Do"
Find out what is working for the compettition is doing it and don't be afraid to use it as a template. How often are your compettitors running commercials, and in what dayparts? What times are the year? What station(s)?

Is it a bad idea to be on the same station as a compettitor? Well, if that were the case, your compettitor wouldn't be so UNNERVED as they often are when a similar company signs on to a station. There are enough leads for everyone. Just ask all the mortgage lenders still on the air on Talk 910 KNEW. Everyone is on there for a reason: 910 KNEW generates leads.

At the same time, don't be afraid to try other similar stations that have the same demographic and pyschographic profile. It might be untapped territory for you to OWN!

Two, "Reach and Frequency"
I cannot stress this enough: get the proper reach and frequency on your proper schedule. One of the main reasons why radio fails to produce results for advertisers is because advertisers don't commit enough budget to get the ball rolling. Provided that the station audience fits your target customer profile, enough of the station audience (REACH) needs to hear it enough times (FREQUENCY) to stimulate action.

The rule of thumb is to at least achieve a 3.0 frequency before you can expect to see results. This is probably more like 5.0 these days with all the MEDIA CHAOS that people are exposed to. Depending on the station's TSL (time spent listening) you can build frequency quickly or slowly. You definitely want to achieve your cummulative 5.0 frequency in less than a month whatever the station you choose, so budget accordingly.

How does this vary by station? In general, the higher the TSL the easier and probably less crucial the frequency (AM stations are great for high TSL) since the listener is alot more focused compared to an FM station. You really need some frequency in order to see some results on an FM station. A good way to check is to find a compettitor that is using radio successfuly and ask your radio rep for an analysis of their schedule to find out what reach and frequency is working for them.

Three, "Not all stations target equally; target the P1."
It can be dangerous to be a fan of a radio station that your target customers don't listen to. Marketing high-end spa treatments to women? Eh, KNBR isn't exactly the most effective station to use no matter how many more women they pull in by numbers. Numbers don't necessarily mean effectiveness. You could be getting alot more fat per ounce if you know what I mean.

You really have to learn about the stations that your target customer would listen to and identify with. Talk to your radio sales reps about the subtle differences. Investigate who the "P1" of the radio station is. These are the people that will most likely respond to your advertising because they identify with the radio station and listen to it the most.

Four, "Did your copy suck?"
It probably did. That, or you picked the wrong station (see above). When you pick the right station, don't argue with the sales rep to change the copy if it doesn't appeal to the station listener. The radio sales rep usually understands what kind of message and the proper way to present it in order to properly grab the audience attention and appeal to them. Besides, you should wait until after you've gained the proper frequency (at least 5.0) before judging whether the copy isn't effective.

Ed

Welcome to Media Chaos.

noreply@blogger.com (Radio Ed) — Mon, 31 Dec 2007 16:34:00 +0000

You came here because something about the title "Media Chaos" strikes a chord deep within you. Perhaps you are looking at how to make sense of all the different media available wondering which media is the best for your business, or you are from an advertising agency looking for an update on what works and what's fresh in the market.

This blog will be a great source for you.

After receiving my BA in Radio and Television from San Francisco State University and going to work for the infamous Clear Channel in San Francisco, I came to the conclusion that the media environment is far more complex than most could ever imagine. On a daily basis, I try to help people sort through this chaotic media environment so that companies can make the best choices on where they spend their media dollars. Hence, "Media Chaos" was born.

Let's not forget that I work for a company that specializes in Internet and Radio, owns and operates 10 radio stations in the San Francisco and San Jose Bay Area, and reaches nearly every desirable demographic and retail customer in the Bay Area. So, in addition to finding some commentary and news on media vehicles and campaigns that I find useful for marketers and businesses looking to advertise, you will also find a great information on the benefits of using radio and Internet to make an impact and learn how to make these campaigns work for you.

Feel free to drop me an email at edkahana@clearchannel.com