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January 2003
When in Doubt - ACT
Don’t know how else to say this - It’s true here at Belden Associates and we’ve heard it countless times in the last several weeks –
“…no matter what happens during this holiday season, we’re more uncertain of what the New Year holds than any other time we can recall!”
Positive economic news is immediately countered by multiple negative reports…a lull in the middle eastern quagmire or in the war against terrorism is inevitably shattered by a suicide bombing and continued news of the inexorable U.S. military buildup. How should an organization plan and act during such unprecedented times?
The only certain answer is to make sure YOU ARE ACTING!!
Thankfully, many newspaper and communication companies are aggressively seeking market share during these more difficult times. To that we say, “congratulations!” Keep it up.
Now IS the time to take chances. It is the time to try that new organizational structure or introduce the product you’ve been certain is the next “killer app” and, yes, it is the time to invest in those difficult to fund during slower times, but oh so critical tools, research and training.
We regularly ask, “Can you quantify the dollar value of your Belden research investment?” In the best case scenario, one research director proclaims: “For every dollar I spend with Belden, we sell or save $150!!”
An expense item? Bah Humbug!
Since more profitable than most other industries is a fair characterization of the newspaper world, let’s capitalize on that enviable position and plow some of those profits in to experimentation. The Internet is a part of that, but more and different products and distribution methods. Niche products, different models in different geographies, and all in a more consumer friendly way.
And, speaking of the Internet, let’s get this right, why don’t we?
It can be the salvation of our industry…no less.
Even if we figure out how to capture younger print readers, can everyone truly believe that a future of ink smeared upon newsprint is going to last 20, 35 or 50 years? If nothing else, environmental challenges alone will eventually stop that many trees from being felled. We need to be preparing now.
That means committing the resources – both human and financial – to connecting with users of our web based news and information offerings in ways in which they want to AND providing the metrics and information advertisers are clamoring for in a way that satisfies their needs. Better yet, why not surpass their needs?
This is an awesome time to address such a notion, because those needs are just now being established! What is the proper metric? Advertisers are not yet asking for much, but that’s only because so much of the early web sales efforts were a function of relationship and no more. That will change… It already is!
How cool to be providing what advertiser’s want BEFORE they really begin clamoring for it? One thing makes sense – we should be delivering tools and information they are already used to. Demographics, reach, frequency, etc. The newspaper print world is finally embracing the READERSHIP idea, so let’s break the mold and create the equivalent in the Internet space and do so now.
Related point, but which should apply to all our endeavors (and, apologies in advance for putting on an old sales hat, but, man does it apply!!) –
- As long as we’re going to provide what advertising customers need, let’s do so in an emotional, compelling, exciting way!
Even if the metrics themselves aren’t all that exciting, and lord knows not all research has us at the edge of our seat, why can’t the distribution mechanism (sales person or medium of delivery?) and/or message be exciting…one that cries out to the customer with passion and says, “…buy us. We’re cool, relevant, and care about your interests incredibly!”
There are THREE keys to successful, long term sales. Two we’ll save for another day, but the first, and far away the most important is enthusiasm!!
Emotion, excitement, fear, anxiety, apprehension, exhilaration and maybe even love and pleasure all play a role. NOT simply satisfaction. People who buy things – especially services like media – want to to have information proving their purchase will reach desired audiences, who will act, but they also want to buy from and get passionate about the people they work with. So – and, take this to the bank – if our people and products are exciting and knowledgeable and occasionally exceed a customer expectation, man oh man, are we in the driver’s seat!
Everyone at Belden Associates wishes all in this wonderful industry we’re a part of a wonderful, EXCITING, fulfilling holiday season. Go out and do something GREAT!!
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