Print...extinct or existential?

In this day and age with the technology and advancement of web, email and social media we can reach thousands of viewers instantly with whatever digital venue we choose. We all know that you can have a campaign up and running instantly with literally with a click of a button and 1/4th of the budget.

This topic has been talked about alot in my tenure as a graphic professional so I am not digging up anything new. But the reality is - the print industry has changed. Am I saying that I think it is totally going away or that print is dying? Absolutely not... But just in the last 3-5 years I have seen a dramatic shift in print requests and direct mail campaigns.

Another strike against the print industry is the added concerns for the environment: recycling, chemical disposal and overall waste. Most printers do their best to meet eco-friendly guidelines but there is still the extra cost and work to comply with the "green" movement.

I am kind of bummed by all of this because I think print is still an effective and very creative vehicle for getting a message out. There is still something special about getting a really cool direct mail piece in your mailbox, or visiting a dealership and bringing home a glossy brochure of your favorite car. Who doesn't remember flipping through the Christmas toy catalog and bookmarking the things you dreamed to have. Even as a designer I find myself hoarding paper sample books because I think they are cool.

Look at the effectiveness of print this way:
How many emails do you trash not even looking at them because you consider it spam or junk mail or that don't even make it to your inbox due to spam filters? On the other hand... How many high quality printed snail mail pieces do you toss without giving them a once over to a least see the message or craftsmanship on their way to the trash? I know my answer to this...print is generally more effective in comparison.

Overall I think the internet is a tremendous tool, however, print is still much needed. A downloadable PDF isn't going to replace a beautiful brochure, printed on high quality paper (might cost less but not as effective). Consumer products still require packaging. Stores will always need point of sale displays. Retail still needs shopping bags, tags, and promotional items. Restaurants still need menus. Business cards, letterhead and envelopes remain necessary elements for every business. People still read textbooks and novels.

Bottom line: Print is here to stay (that is, until we find a way to market telepathically). Let us help you figure out how best to leverage both print and digital medias to maximize your message. Sometimes you need both, and other times one more than the other, but lets face reality, print is always going to be part of the equation.

Until next time,
Jeremy

The Power of 70 (A Social Media Case Study)

We are on day 38 of a client promotion focused onpersonalized debit cards (cards that use our own, personal photos).

The goal is to open new checking accounts by using these market-unique access tools as the differentiator.

The campaign was divided into 3 phases.

PHASE 1: Awareness& Acquisition

We promote the debit card through TV, web banners and directmail.  The foundation of thepromotion is a photo contest where eachcredit union member who opens a photo debit card has the option to add thatphoto into the contest. 

The call to action for all media is a unique URL where theycan create their personalized photo card and begin the account opening process online.

PHASE 2: Voting &Social Media

We end all external media during a 2 week votingperiod.  We use the same unique URLas Phase 1, but add the voting element. Of course, members and potential members can still create their own cardand begin the account opening process – they just cannot enter into thecontest.

During this time, we use email and Facebook topromote the voting.  The key is to providetools for the contestants to push the message to their social circle toencourage voting for their photo.

PHASE 3: AnnounceWinner & Continued Awareness

We restart the TV campaign with a new ad featuring thewinner’s photo and promoting the unique aspect of the photo debit card.

RESULTS

Phase 1

We experienced a spike on the first dayof the media campaign with more than 100 absolutely unique visitors on day 1.  The first week, the daily uniquevisitors leveled off to about 40-50 per day.  Week two, it lowered to 10-20 unique visitors per day.  

We then launched the direct mail and sent another email tomembers to re-energize response and saw another one-day spike of more than 400unique visitors (a 400% increase over our best day of TV).  Again, we leveled out to about 50visitors per day during the last few days of Phase 1. 

The broad-based media had an immediate impact but leveled out and began to decline in 2 weeks.  The targeted effort of direct mail had a more impactful one-day result, but also quickly leveled off.

Phase 2

Here’s where things get interesting!  Where the client averaged only 8 photo debit cards permonth, we generated 70 photo card contestants in 4 weeks (we are still waitingon actual new checking and new member numbers – the true test of success).

From the first day that the voting opened and from the firstemail to our 70 contestants, encouraging them to promote the voting – we saw animmediate and sustained jump to about 500 absolutely unique visitors perday.  Higher than either of ourprior one-day spikes for TV or direct mail!  We are in our 7^th straight day with thesesustained results.

THE LESSON

Social media is a powerful tool, but it does not work in avacuum.  The success of the socialmedia was built on 4 weeks of steady exposure in traditional media.

The social media aspect of this campaign is working becausethe target is motivated by a prize to push the credit union’s message.  But if 70 contestants can generate about3,500 unique visitors to a site in just 7 days, without a penny spent onexternal media … imagine the impact of a sustained social media program, as part of a full on-going marketing effort, where you areoffering valuable information, an occasional contest and random productspecials.  

As you create your plan for 2012, it's important to consider how social media can help to strengthen your overall results when included the the rest of your media mix.

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Learn more here.

Or contact me directly.

Time Change?? ...Change your planning style

OK folks...we are two weeks away from the dreaded time change.  Sunday morning November 6th at 2:00 am, we go off Daylight Savings Time and back to "normal time."  We 'fall' back in time, so we gain an hour of sleep...one of the few redeeming qualities of the time change.

However, the Time Change also signals an important time for us all... planning for 2012.

Its time to look at things differently this year...and here are the TOP 3 changes you should make to your 2012 strategic marketing planning process:

1. Make is scalable-- start with each region/business line/office and scale your marketing plan from that common denominator forward to the entire organization. Start local, targeted and one-to-one and grow into an organizational support plan.
2. Bring in the customer voice-- whether it is focus groups, research, or simple branch intercepts, bring in the voice of the customer...what they want, the challenges they face, and the help they need from your organization!
3. Be 3-dimensional-- in EVERY aspect of your planning, PLAN for reaching your target customer from three different angles; see, hear and touch...electronic, print and personal...in person, in the mail and over the Internet...whatever 3-dimensional means to you...make it happen EVERY time this year!

 Looking forward to 2012 is an exciting time and you should engage your entire organization in the communicating and sharing of ideas.  Just remember, there is a difference between asking for input and asking for decisions...you still need to make the decisions!

Cheers!

Bruce

Something for Everyone

Recently my wife and I took a trip to Las Vegas. I had been there before for business but never really had time to do any sight seeing. So we did all there was to do and saw pretty much everything there was to see. The thing that still has me baffled the most (besides the missing money in my wallet) was the decor. I was utterly amazed that every bar, restaurant, shop and casino that we visited, looked completely different from each other. I never once saw a place that looked like another place. The building materials, colors, and over all themes were totally unique in each venue. That town must be an interior designers/architects dream.












If you never went outside...you would think you've been transported to some of the most exotic places on earth (as opposed to the middle of the desert). As a fantasy land for all walks of life, there is absolutely something for everyone. It is definitely a beautiful and inspiring place. I filled my brain with lots of ideas and got a refreshing look at color schemes, shapes and styles. "Las Vegas...to you and your gleaming bright lights, and shiny marble floors...I salute you." (even though you left me with no money).

Until next time,
Jeremy

Who Dey...

In case you are unfamiliar with the phrase "Who Dey"....it is for the Cincinnati Bengals!!

I am a true fan...hard to say, I admit! But a fan nonetheless!  Typically our best part of the season is pre-season.  We have been involved in two Super Bowls-- losing both in exciting fashion.

My post today talks about the pending trade of our former "franchise" quarterback to the Oakland Raiders for several 1st round picks and a starting linebacker.

The story is not really about the actual trade...but the implications of "why" the trade is necessary and what is means for your institution.

First, Carson Palmer was tired of losing...so he said, "trade me or I will retire."  He retired.  The Bengals drafted a rookie quarterback, Andy Dalton, is the 2011 draft...and he has been tremendous.  Many fans were worried that if we let our old quarterback go that the young quarterback just wouldn't be able to deliver.  He has.

So now the transition to my point...most of the banks and credit unions have an aging customer base and are hesitant to truly reach out to the Gen Y group with any sort of gusto.  We have a fear that our current customers won't "get" our messaging or that the young customers "just won't be profitable."  We HAVE the make the move... just like the Bengals that faced an agonizing decision.  For the benefit of your organization and for the future of your deposit and loan generation, you have to begin the transition.  Now, I am not advocating a "trade" of customer for customer...but certainly a most focused approach to reaching out to the Gen Y group.  We have to go where they go...which is not necessarily the branches...and use the tools they use...social media and referral networks.  Here are four steps to take:

1. Segment your customer and marketplace into demographic and psychographic groups
2. Segment your messaged to match the groups
3. Be even more dimensional in your marketing strategy (and then your advertising, too)
4. Embrace the changes and focus on retaining your current customers while onboarding and welcoming your new customers

The transition will be bumpy and you may have questions along the way.  However, you will be better off in the long-run and the short-run may also bring unanticipated benefits!!

Need help?  We can show you the ropes and help manage the process...you have an expert in your corner with MarketMatch!

Cheers!

Bruce

"So What?!?!"

Everybody has a story … very FEW are worthy of being told.

As the great storyteller of your institution, what is your story? How is it different? Compelling? Exciting? Story-worthy.

I'm a storyteller myself, and I believe that it’s our job to ask, “So what?” When you see a billboard or a web banner … a Super Bowl ad or hear a spot on NPR … and ESPECIALLY the work that comes out of your office! What is the story? Is it worth telling?

You should be able to see the strategy in every marketing touch point. Are you trying to create trial? Increase awareness? Regardless of the message, you should be trying to differentiate. Tell why someone should drive by 3 banks and 2 credit unions to get to your branch.

Consider your story. If you weren’t telling it, would it be worth listening to?

Take care,

Eric

Turning Oops into Opportunity

After a hailstorm, I had my roof replaced a few weeks ago and it could easily have been a tale of two experiences.

During the replacement, the workers dropped a large roll of roofing paper onto my deck - shattering a portion of my handrail.

When the job was complete, they had used a metal valley (the seam between to roof lines) that we did not previously have ñ and that my wife hated!

Shortly after the roofers left, I mowed the lawn and ended up with a flat tire on my rider thanks to a roofing nail.

And with all that said - I would highly recommend my roofing company to anyone.

Surprised?

The rest of the story is that they:

• Rebuilt a new handrail to match the destroyed one on the next day
• Replaced the metal valleys with a more aesthetically pleasing treatment within a week
• Took $100 off the roofing cost to replace my flat tire

The unfortunate reality is that accidents happen ... statements can be wrong ... debit cards can mail late ... tellers can miscount bills.

The important thing is to proactively turn these "oops" moments into opportunity. Make the situation right ... by any means necessary ... and then some if possible.

4 Simple Rules

1. Employees cannot be afraid to call mistakes to management attention as soon as they are discovered.
2. All staff must feel empowered to correct an issue as quickly as possible (parameters can be set for significantly costly issues ñ but common sense should dictate what needs to be done here).
3. "I'm sorry" are very powerful words!
4. Give a little extra for the inconvenience.

By doing what is right, you can turn possible tragedy into a referral opportunity.

Take care,

Eric