A month ago I've attended the “Austrian Media Days Conference 2016”(#oemt2016), and it kept me thinking.
On September 20th & 21st, 2016 the country's leading media, advertising and marketing experts discussed the status quo and the outlook of their industries at the University of Economics and Business in Vienna, Austria.
Of course, there was some agitated melancholia about disruption, destructive changes and threats to old fashioned business models in print and TV. And yes, I could even hear statements like
“Google and Facebook are evil.”
Invited politicians picked that up immediately. Hereupon the Secretary of State for Media, Thomas Drozda, foolishly proposed the idea of a new tax for digital advertising. Any believed positive effect of this measure is a strong misconception of course.
The said extra tax of currently 5% on paid advertising already exists for print media and goes back to 1927 (!). Originally it was supposed to be limited for a period of 5 years. Well, we are in Austria: The tax at some point rose to as high as 20% and even 30% and survived all efforts to abolish it altogether. In June 2000 the corresponding tax law was adapted and changed the last time. The Professional Association Advertising and Market Communication within the Austrian Federal Economic Chamber argues with politicians against this industry specific tax for ages. Obviously without much success so far. Now the time has come to tackle it again, and even more vigorously, because an expansion of this obsolete tax into the digital domain is not useful nor acceptable.
To have large international corporations pay higher taxes to individual nations in general is heavily debated not only in the European Union right now. However, it is a much larger issue and cannot be solved on the back of the advertising industry. The problem with tax avoiding practices is of global scope and is not limited to companies like Google, Facebook, and Apple in Silicon Valley.
As if any such tax could save individual businesses or industries that do not embrace change. Outdated business models will disappear inevitably. New generations of founders and smart business owners will embrace the digital age and seize the opportunity.
Media formats like linear TV, radio, print, and certain types of agencies that serve the advertising industry are under high pressure. They are literally forced to find alternative business models, create new offers, and operate on a more efficient and effective level than ever before. What else should they do?
International keynote speakers and successful local business owners shared what works in order to thrive in the digital era. Here is a short list in arbitrary order:
Mobile services, location based features
Anything with high entertainment and fun factor
Unique, quality content goes a long way, e.g. local content or niche content: Free medium with paid advertising or subscriptions paid by readers work in digital space, in print or in a combination of both
Connecting people with alike interests
Providing room for user generated content and user engagement
Collaborating with other participants in the market
Advertising becomes more cost-effective with programmatic advertising, ad re-targeting and cross media marketing. (Works well for publishers and for advertisers.)
And the list goes on.
Much has changed but not those economic principles:
No money is made unless a product or service has been purchased by someone.
People buy what they want from sources they trust if the provided value exceeds the perceived price.
The digital revolution has turned previously expensive goods and services into commodities of which many have become available to everyone for free altogether. It's too late for those young commodities, but there is infinite possibility for creating something new people are willing to pay for.
David Ogilvy (↑) is said to be the father of modern advertising in the early '60s who answered that exact question in an acclaimed full page house ad for his own advertising agency. Needless to say that the ad worked very well and established Ogilvy & Mather as the leading advertising agency for industrial advertising.
One of David Ogilvy's many tips for creating successful ads is: “Don’t Get Distracted from Making the Sale”
It sounds bizarre but many agencies with or without the help of their clients screw this up big time. Almost if selling were a bad thing. And whoever is ultimately held accountable for advertising that does not work in the short run has tons of logical reasons why this is actually good thing.
You might have heard these before: Advertising is supposed to build awareness, to establish brand identity, to create a community, …, etc. or in other words: The big sales will come sooner (or later) because of all those effects.
Of course advertising should not be treated as one dimensional exercise but making sales today ranks pretty high on my personal and on my client's lists of priorities.
In order to discuss latest trends as well as evergreen strategies I traveled to London, U.K. to the Biz Fest 2015 conference two weeks ago.
John W. Furst at Biz Fest 2015 in London, U.K.
Stay tuned for more tips about advertising that sells and related topicss. I'll be back soon. Just rearranging a lot what I am doing right now.
Email marketing is more important than ever. It's a very cost effective means to stay connected with your customers and prospects. And you do not only want to stay connected, you want to build a relationship with your members.
While social media platforms like twitter and facebook allow you to be present as a business, as a marketer, they very often change the rules, … You don't want to be at their mercy. Build your email list. Start now and continue to grow it.
Email Marketing Tips - Blog Carnival
Update on Feb. 8, 2013: All old editions 1 through 27 have been cleaned up. Outdated tips and broken links have been removed.
Update on April 12, 2015 We have discontinued this blog carnival.
Email Marketing Tips - Edition 28, Feb 9, 2013
Includes: (*) Use Your Blog to Power Your Email, (*) Power Your Blog from Your Ezine, (*) Email Marketing for Startups, (*) The Permission Gamble, (*) Keep Email Marketing Simple
Email Marketing Tips - Edition 27, Oct 27, 2010
Includes: (*) Behavioural Targeting, (*) Sharing via Email vs. Social Media, (*) Tips to Improve Your ROI, and more …
Email Marketing Tips - Edition 26, Oct 14, 2010
Includes: (*) False idols: 4 beliefs that can hurt your email marketing, (*) Keyword Research for Email Marketing, (*) 12 Email Marketing Tips For Small Business, (*) 7 Books About Email Marketing, and more …
P.S.: Perry writes much better copy than I do, therefore, I save you from having to bear with me and urge you to go over to his site and read what he has to say about Google Adwords in 2009/2010 and why you need to get his book.
The following article contains 13 free and inexpensive ways for you to promote your website.
1. Viral Marketing is an approach that persuades people to pass along your message. Like a virus, the message then spreads to more and more people. The persuasion to pass along the message typically comes in the form of humor. If one person thinks the ad, email, video, etc. is funny and/or entertaining, they will pass it on to their friends. If you’re creative, give this a try.
2. Creating a blog, or web log, is becoming more and more popular. A blog will allow you to create a running commentary focused on your products or services. Interested parties will have access to this running log information. WordPress and Blogger are two of the most popular blogging platforms, and both are free to use.
3. Joining an affiliate program will cost a bit of money but can make a huge impact if you’re selling merchandise. Interested parties join your program and sell your products. When they make a sale, you pay them a set commission.
Just one example: Search Engine Marketing
4. What better way to grab people’s attention than to offer them something for free. Using free giveaways like sample products or offering a free consultation is a great way to grab people’s attention and to garner more interest in your products or services.
5. Posting articles focused on your products or services is a great way to promote your business. People are constantly surfing the internet for the latest tips, tricks, and advice… just like you. Adding links in your articles that refer readers to your website is a necessity to increase traffic.
6. Target your audience. Join forums and other online groups that are within the scope of your business, products, or services. Be sure to supply these forums or groups with a steady stream of applicable information. Constant, focused information is a great way to catch a prospective customer’s attention.
7. Make prospective clients feel wanted and special. When your marketing does draw prospects to your site, you want to close the deal. Make someone browsing your website feel good about themselves, and try to relay how much better they’ll feel when they buy what you’re selling.
8. Purchase business cards and company stationary. Use these two for any and all correspondence. Whether it is something personal or related to your website, the more hands you can put your stationary and/or business cards into, the more likely you are to increase site traffic and sales.
9. Sponsoring events is a great way to get your company name in the public eye. Depending on the type of event, sponsorship packages will vary in price. Make sure to select events that are likely to draw your customer demographic and give you the most exposure for your buck.
10. Focus on your uniqueness. While promoting your website, you need to focus on the things that set you apart from your competition. My online business, OBrienMaDe, is an online social marketing company. Our homepage clearly tells prospective clients what sets us apart from the myriad of other marketing companies on the internet. Check it out for yourself- http://www.obrienmade.com.
11. Use e-mail and snail mail campaigns. Obviously, we don’t want to spam prospects or bombard them with junk mail, but you do want to use a calculated mail campaign. Almost everyone has a large database or personal e-mails. Start by advertising to your friends and family; you never know what might come of it. Also, mail out ads to your demographic… and be sure to use company stationary.
12. This one is a no-brainer, but just in case here you go… create a webpage. Having an online presence is very vital. If you’re an online business you have a website, if you’re a brick and mortar establishment you may not have a site. At the very least, create a single web page highlighting your offerings. There are many free web hosting providers you can use. Just search “Free Web Hosting”.
13. Google AdWords offer pay-per-click (PPC) advertising for businesses. Your ad will appear in the Google search engine. When someone clicks on the ad and is directed to your website you pay an amount of money pre-determined by you. You can establish a budget that is not to be exceeded. Once your PPC reaches your monetary limit, the ad will no longer be visible to web surfers.
If you would like help establishing and running a social media marketing campaign, or creating a website, please feel free to visit http://www.obrienmade.com or email: <info[at]obrienmade.com>.
About the Author
Tom O'Brien is owner and operator of OBrienMaDe, an online business focused on helping small businesses increase online visibility and traffic.