Mid-market businesses should observe national brands but take the lead for themselves.
Due to their immense marketing budgets and large staffs, national brands often tend to be trail blazers, constantly attempting to innovate their advertising positioning and strategy. In many ways, they make very good leaders, and mid-size companies should pay attention and learn from them.
Many will tell you that traditional advertising is dead. It’s not! It’s gotten bumped and bruised but it’s actually alive and well and reinventing itself. Whether it’s cable, radio, outdoor or transit, they are all hard at work, adding elements to their business that will make them better and more competitive, no matter whom their competition might be.
Some think that digital is the only way to promote a brand or that social media is the best way to communicate with an audience. This general statement makes my hair stand up when I hear it in a client meeting. If it were that simple, we could program the robots and go to happy hour early!
If this truly is the case, then tell me, why do Netflix, Apple, Verizon, Samsung and a slew of other tech companies spend hundreds of millions on TV and outdoor every year?
You need to analyze your product, your competition, markets and your two main demos to help you determine the best mix of media for your company. Yes, I said two demos. Almost every brand has two. Because the best ad campaign results may come from looking beyond the primary audience solely and comparing mediums based on the first and second layers of consumers. Think about it. The NFL draws 60% men, which means it also draws 40% women.
If five alcohol companies buy time in a game and they all speak to men, then who is speaking to the women? I want to speak to the men that’s obvious but depending on my product, I might be as interested in having 100% attention from 40% of the female audience as having 20% attention from 60% of the male audience. You see multiple beer brands in every game. When was the last time you saw a wine commercial in a football game? Answer: Yellow Tail in the Super bowl. They get it!
Digital advertising offers tracking capabilities, but the other outlets have their own. Often, they just aren’t as understood or obvious. But trust that those TV set top boxes, mobile devices, tablets and blue tooth mall kiosks and billboards are all working overtime tracking and racking up your information.
Today, more than ever, regional companies need to clearly define the methods they should utilize to promote their brand. With tight budgets and an overwhelming amount of options, it can seem quite daunting and uncomfortable.
Push the limits and overcome the natural tendency to resist discomfort when strategizing your advertising. Through the latest technology, analytics and data tracking, regional companies should feel confident in analyzing new methods and revisiting some “old” methods too. Remember, leaders aren’t always the biggest guy on the block!