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Posts Tagged ‘insights’

Dare to Compare! Banner Ads vs. TV or other Media

May 9th, 2014 No comments

Last year, Ben Kunz – Vice-President of strategic planning at media agency Mediassociates penned a column in Digiday called, “In Defense of Banner Ads.” Kunz opened with a pithy set of points:

If you believe banners suck, you’re not alone. The poor things are so disparaged that the entire digital industry has repositioned them as display advertising to wipe off the banner stigma.

But the truth is, banner ads work just as well as most other forms of media, which is remarkable given their small size, surrounding clutter and creative limitations.”

In fact, some of Kunz's findings make banner ad results better than most other forms of media, and of course, can be more targeted and thus at a far lower cost.

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Compare to TV

“Nielsen, the typical U.S. consumer is exposed to 4 hours and 38 minutes of TV a day, about 40 percent of which is commercial time.” Kunz points out that with that giant screen, the response rate is still only .05% for TV. The average consumer sees about 6,600 commercials monthly.

Compare to Radio

The typical adult in the U.S. listens to 1 hour and 23 minutes of radio daily, 2,500 minutes a month, and at 15% of radio being commercials, that's 750 thirty second spots a month. Results?

.013 percent.

No wonder they repeat those toll-free phone numbers, over and over, and over…

Compare to Billboards

Kunz used NY Suburbs in his example, here are his numbers: “…$320,000 for 26 large 14-by-48-foot billboards (for a 50 GRP level). That provides 28.2 million impressions a month.” Response rate? 0.03%.

And Banner Ads?

Kunz states that Facebook ads were running .03%, and that the Direct Marketing Association and Google uses a range from .03% to .09%, with .07% being tossed about as 'typical' by others.

The bottom line is that banner ads would meet or beat TV, radio and billboards.

In an operation such as MHProNews.com, there would be no way to cover the nation with as many manufactured housing industry professionals other media for anything like the low cost of our banner ads.

So while all reports suggest that CTRs (Click Through Rates) stabilized at a lower level than they were some years back, they still compete very well with other forms of media, so sayeth Ben Kuntz!

DC Marketing Pro

Brooke Jordan in DC Marketing Pro, gave her 5 reasons for using banner ads.

1) “…Regardless of measured click-through rates, banner ads still create a favorable attitude toward the ad due to repeated exposure.” (Journal of Consumer Research)

2) Research shows that consumers engage with banner ads more than TV or outdoor ads.  Banner ad CTRs average at 0.07% (Digiday).  TV response rate is 0.05%, according to Nielsen. Outdoor has a 0.03% response rate (Digiday). Radio, which lacks the visual component of the other three media, has a response rate of 0.13% according to Arbitron.”

3.) “Banner ads have the ability to hyper-target by age, lifestyle, and geography better than most other mediums.  Maybe that’s why eMarketer projects the top five sellers of display advertising to generate $18.6 billion in the U.S. alone in 2013, a 20 percent increase from 2011…” 

4) “Video and display advertising are effective at driving a significant lift in site visitation and SEO, even in the face of minimal clicks on ads. (comScore)”

For me – and for most of you – the real hitter was Brooke's point number 5!

5) “It’s all about ROI.  Marketers continue to pour billions into banner ads due the sheer scale and efficiency.  Low CPMs, compared to other media, mean that marketers can afford a high volume of impressions at a relatively low cost.  When you combine the business generated directly by clicks with the “collateral damage” that occurs beyond the click, most advertisers find the investment is worth it.” (Bold emphasis added).

In yet another study, Smartinsights claims CTR rates are around 1 per 1000 impressions.

When Jordan was talking about the “collateral damage,” she is using that as a humorous, positive euphemism for “impressions.” An impression is defined by Wikipedia as:

“An impression (in the context of online advertising) is a measure of the number of times an ad is seen, whether it is clicked on or not. Each time an ad displays it is counted as one impression.”

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In a recent 90 day campaign for a client, we generated over 1.5 million impressions and some 900 click throughs. More important to the client, they grew their outcomes by 14.7%, which made it a good investment.

The exact record of their campaign results: 1,566,675 impressions and 946 click throughs.

A longer term client, the MMHF working with Show Ways Unlimited and the Louisville Manufactured Housing Show, gave us a historic performance track record and testimonial, linked here.

Impression Gold?

Ad-Mays in a report on impression-based advertising stated the following:

  • 52% of Internet users actively respond to banner ads.
  • While 31% of users click on the ad immediately, a large percentage conduct searches for the brand or product, visit the company’s website, or respond through social media. This can be termed “the Silent Click.” 
  • The Online Publishers Association found that after viewing a display ad there was a 50% increase in brand name searches after one week, users spent an average of 12 minutes longer viewing the website, spent 10% more money and higher income audiences were attracted.

The bottom line? Banner ads work and both CTRs and impressions deliver great value. This is why the market is booming!

Looking for a great way to reach the business to business (B2B) market for manufactured housing? Based upon the both external and internal studies, you'd be hard pressed to find a better value that the banner ads, impressions and related campaigns we can create for clients on MHProNews.com. ##

L. A. "Tony" KovachL. A. 'Tony' Kovach ManufacturedHomeLivingNews.com | MHProNews.com | Business and Public Marketing & Ads: B2B | B2C Websites, Contract Marketing & Sales Training, Consulting, Speaking: MHC-MD.com | LATonyKovach.com | Office 863-213-4090 Connect on LinkedIN: http://www.linkedin.com/in/latonykovach 

What’s CRM? How Can it Make Your Location(s) more Money in 2014?

January 12th, 2014 3 comments

The value of CRM is demonstrated by the fact that hundreds of thousands of companies of all sizes in the U.S. use it to grow their business and improve their bottom lines. Our company doesn't sell CRM services, but we recommend it's use to the majority of our client's. So lets's answer a few common questions about CRM, you and your operation.

crm-word-cloud-300x216.jpgWhat is CRM?

Because we promote its use in articles, at live events and in training, a common question we get is what is CRM?

CRM is short for Customer Relationship Management. Briefly, CRM is software that when properly used helps a company's professionals stay in touch with prospects and customers.

Why use CRM?

Bluntly, because using CRM makes you more money! Common statistics are that proper CRM use will increase your business 15%-25% or more. When you consider the modest cost, this is a real no brainer.

CRM also protects your marketing investment! Most sales or leasing people can handle no more than 20-40 prospects using paper or manual notes. If you are getting a volume of leads or walk in customers, CRM use protects the dollars you are investing to bring those customers in.

Respected JD Powers and Associates studies are among those that point out the common sense fact that those who stay in touch with their customers greatly increase the odds of doing business.

I emphasize using CRM properly, because some may have CRM, yet fail to use it. Don't waste your money that way! If you get it, or have it, then use it.free_crm_systems.jpg

And if you have CRM, and don't like your current system, then why not see what else is available?

Why CRM in MH is More Important Now than Previously

In the Dodd-Frank/CFPB regulations era, CRM is arguably even more important now than previously. Why?

Because studies show that cash or good credit customers tend to shop 90-180 days in advance. They have cash or good credit in part precisely because they plan ahead. Those who stay in touch with those prospects are far more likely to close them than those who have a hit or miss approach.

Flash Bulletin!

Enjoy a Free, Special Presentation at the Louisville Show on CRM! We arranged for two industry veterans to do a rapid fire 25 minute session on CRM. Get first hand insights in their respective CRM systems. Learn more about this on the Show's opening day, Wednesday at 9:30 AM in the Seminar Rooms at the Louisville Show. See the map below for the location of the seminar rooms.

By the way, here are the other free, show sanctioned seminars that will take place at the Louisville Show:

http://louisvillemanufacturedhousingshow.com/louisville-2014-show-money-seminars/

Tony Kovach will do a quick introduction to this session on CRM, and the presenters will be:

Scott Stroud of BuilderRadio and Sell More Homes Academy, you can see Scott's current article at this link:

http://www.mhpronews.com/home/featured-articles/january-2014/117-marketing/6873-selling-to-or-against-buyer-perceptions-part-2-10-steps-to-changing-buyer-perceptionsp

Our other presenter will be Jason Brady with ManufacturedHomes.com, you can see his current article on our site, linked here:

http://www.mhpronews.com/home/featured-articles/january-2014/138-general-manufactured-housing-industry-topics/6870-start-the-year-off-right

There are 48 new model homes, 80 exhibitors, receptions/mixers, great networking and now 5 free, show sanctioned and business building seminars as reasons to be in Louisville January 22-24th. If your plans take you to Louisville, please be sure to attend this fast paced, insightful session on CRM and how it can help YOU close more sales in 2014! ##

FYI, we will be in booth #115 at the show, right by the main entrance to the show floor.  Please stop by and say hi!

(Image credits, MHI and MHProNews)

L. A. "Tony" KovachL. A. 'Tony' Kovach
ManufacturedHomeLivingNews.com | MHProNews.com |
Business and Public Marketing & Ads: B2B | B2C
Websites, Contract Marketing & Sales Training, Consulting, Speaking:

MHC-MD.com | LATonyKovach.com | Office 863-213-4090

Connect on LinkedIN:
http://www.linkedin.com/in/latonykovach 

Selling $2,000 – $20,000 “Mobile Homes” vs. Selling $40,000 – $200,000+ Factory Built Homes

January 5th, 2014 No comments

It is amazing that so many in the manufactured housing industry are stuck selling homes priced under $30,000. Don't get me wrong! Any sale that fills a vacant home/site or moves another home out of a street retailer's inventory is good. But until the majority of communities and retailers learn how to selling homes priced from $40,000 to $200,000 plus, our industry will continue new home production levels at historic lows.

Is there a way to sell more “residential” style homes without abandoning the pre-owned and entry level VOG homes most sell? Yes there is!

We know from real world experiences from coast to coast and border to border that factory built homes can compete head to head with conventional construction. Nor are we or are clients the only ones! There are operations that 'get good' at attracting customer who have good credit or who can write the check for a nice 'residential style' manufactured or modular home.

Bottom Feeding or Going for the Gold?

The Harvard study on rental housing, 10,000+ baby boomers retiring daily and the need for 20,000,000 new housing units by 2030 are all factors that point to a huge opportunity for a manufactured housing industry slowly coming back up to some 60,000 new home shipments per year.

Our experience shows that by reaching out to a broader mix of customers – not abandoning the lowest rungs on the housing ladder while reaching out with appropriate marketing to the better qualified customers – can work!

In his exclusive interview MHProNews.com, A Cup of Coffee with…Rick Rand, the award winning community owner/operator referenced 'bottom feeding.' This was a reference more to credit worthiness, and was not meant to be a put down to anyone, but rather points to the fact that so many in our industry fail to attract the more credit worthy customers. As more CFPB regulations kick in during January 2014, the need for retailers and communities to attract better credit customers or those who can pay cash becomes ever more clear.

In the interview with Hall of Fame inductee and highly successful independent retailer Mike Evans, training is part of the key that makes for their success.

At the 2014 Louisville Show, a number of seminars will be presented that are geared towards introducing communities, retailers and builder developers to facts and systems that work today to improve image, attract better qualified customers and sell more homes.

The traffic on the Louisville Show website tells us that the #1 page being accessed after the home page is the seminar page! Industry pros are pre-registering to attend the show in record numbers post 2010, and the seminars are expected to be robustly attended.

The map to the seminar rooms at the fabulous Kentucky Exhibition Center (KEC) is shown below.

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At the Louisville Show, on Wed at 11:10 AM, immediately after the finance seminar, we will present a FREE session introducing some of our free, low cost or good ROI ways to improve image and grow results.

l-a-tony-kovach-dominate-your-locale-market-seminar-louisville-show-cutting-edge-blog-mhpronews-com-.png           manufactured-home-seminar-l-a-tony-kovach-cutting-edge-blog-.jp.jpg

You won't learn all our proven methods in less than an hour, but you will discover more than enough ways to improve and grow your business!

Don't take my word for it, see for yourself why we've received literally hundreds of Linkedin endorsements and dozens of recommendations over the years. See for yourself at the page linked above or throughout the MHC-MD.com website.

Then on Thursday, if you are in the MHC business, make sure you attend the Lesson's Learned session lead by MHC veterans! You can learn more at this link, and we will announce more details on that days ahead.

Financing you can use TODAY, Marketing and Sales tips and MHC insights from proven pros, all this and more awaits you at the 2014 Louisville Show…just 2 weeks away! Mark your calendars, change your plans, don't let the weather scare you away from the indoor comfort of the most popular venue in manufactured housing in 2013!

Selling $2,000 to $20,000 homes is easy. Discover at the seminar above insights into our proprietary system that we use to market and sell the $40,000 – $200,000 plus homes, including high end homes in land lease communities!

When we are not in the seminar room, you will find me/our team at booth #115, right by the main entry doors. Please do stop by to say hi, and you can collect something special that can help you grow your results in 2014. ##

PS: Check our many Exclusive and Red Hot Featured Articles for January and see the other new stories at MHLivingNews.com too.

L. A. "Tony" KovachL. A. 'Tony' Kovach
ManufacturedHomeLivingNews.com | MHProNews.com |
Business and Public Marketing & Ads: B2B | B2C
Websites, Contract Marketing & Sales Training, Consulting, Speaking:

MHC-MD.com | LATonyKovach.com | Office 863-213-4090

Connect on LinkedIN:
http://www.linkedin.com/in/latonykovach 

Progress, Status Quo and Failure

May 22nd, 2012 No comments

We all say that we want to progress or advance in sales and profits. Certainly some companies are selling more new homes in manufactured housing. That means more loans are being closed, more insurance policies are being written, so the whole range of products and services that go into every new manufactured home sales takes place.

But what makes the difference between progress, status quo and failure?

Let's look at five true-to-life examples to answer the question. While these examples are ours, they could apply to other circumstances too. So use the open mind to success, enjoy and profit.

Example of Progress:

A client not only thanked us for the work done and their significantly enhanced results, but they introduced us to another MH company. Not a 2 minute introduction, this was a 45 minute 3 way conversation.

The client heard Tony sharing an idea at a meeting. That lead to a conversation. The conversation led the firm becoming a client. This owner had an open mind. He was curious. He investigated, he listened, he acted.

He profited.

Like many of you, this man was "busy." But he wasn't too busy to learn more to earn more! He made time for what was important. That is the takeaways from this first true tale.

Examples of status quo:

This is perhaps the most common group.

Professionals all tend to run a similar path every day. You follow the same road to and from work. You do things at work similarly too. Is it any surprise when you do the same things the same way, that you keep getting the same results?

By contrast, another gent sent us a message to say thank you. He confessed he was a status quo guy for a long time. But then it happened…

The thank you was first for the insights they gained from reading at MHProNews.com (MHMSM.com), then later from using a specific program and process. A page long message said in part, that he had been in business for decades. He thought he "knew it all." It wasn't until he stopped to consider something new that he was able to advance.

So if you are satisfied, don't change. That is the status quo. But if you are looking for more, be open minded and ready to do more. Then, do what it takes to make that more a reality. The takeaway here is leaners are better earners.

Not every story has a happy ending.

One business owner wanted to grow. They "wanted" to advertise. They invested serious dollars in their operation. Limited on funds, they felt they had to "protect" their resources by "playing it safe." No ads, no growth. They played it so safe, their doors finally closed.

The takeaway from the above is this: the 'safe' center may look safe, but it is the center lines where you find the dead carcasses on the road.

Example of Going Backwards.

The truth is that you typically are advancing or retreating in business. Tony Kovach shared an experience with me of an owner who spoke to him at a large industry meeting. The man described how he had grown tired of all the "fights." Which fights?

"SAFE Act, Dodd-Frank, state and local regulations! I finally got sick of it all." said the owner. "I stopped trying to figure it all out." He turned, and left the meeting.

While we can sympathize, is it any surprise why the occupancy of that community owner declined after he got "tired" of all the "fights?" Note too that the same meeting produced some very motivated attendees.

This takeaway? "You don't tell the fire place, give me warmth and I'll give you wood!" You get out the heat to the measure that you thoughtfully and purposefully put in.

Some tips:

  • Be open to new ideas. The "Know it all" means you can't learn.
  • Keep the bottom line in mind. It is more important to be ready to change directions in a new, better direction than to keep following the same line day after day.
  • Reach out: to peers; network and don't be afraid to hire a professional to get your job done. You wouldn't hesitate to go to a doctor for a medial worry. Why hesitate to hire a professional to help your business?

Progress, the status quo or failure. The choices are yours.##

Posted by:
Tim Connor
Business Development and Ads Manager
MHProNews.com (MHMSM.com) and
MHLivingNews.com
704-895-1230
tim@MHMSM.com