CRISIS MARKETING WEBINAR What Local …...Can advertise more right now, but not sure that is wise as...

© 2020 Borrell Inc. All rights reserved

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CRISIS MARKETING WEBINAR.

What Local Marketers Need Right NowAnd How to Help Them

March 24, 2020


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What We’ll Cover Today

➢ Overview: Gordon Borrell

➢ Effect at Local Level: Corey Elliott

➢ The Role of Promotions: Matt Coen

➢ Advice for Local Marketers: Jim Brown

➢ Your questions

@borrellassoc

Please Share What You Hear Today

AGENDA


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Smart Businesses

ExcelIn A Crisis

Source: The New Yorker, https://www.newyorker.com/magazine/2009/04/20/hanging-tough


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Source: https://www.autonews.com/article/20080630/OEM/306309949/how-gm-kept-america-rolling-in-2001

Smart Businesses

ExcelIn A Crisis


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Source: https://www.autonews.com/article/20080630/OEM/306309949/how-gm-kept-america-rolling-in-2001

Marketing – It’s critical to communicateopenly with your customers about the status of your operations, what protective measures you’ve implemented, and how they (as customers) will be protected when they visit your business. Promotions may also help incentivize customers who may be reluctant to patronize your business.

Smart Businesses

ExcelIn A Crisis


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Taking The Pulse of

Local Businesses

COREY ELLIOTTEVP of Local Market IntelligenceBorrell Associates Inc.


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Have things gotten better?DEC 2018 DEC 2019

Harder: 46% Harder: 39%

Current economic climate?DEC 2018 DEC 2019

Excellent: 5% Excellent: 18%

What will next 6 months bring?DEC 2018 DEC 2019

Better: 9% Better: 12%

Will you be spending more?DEC 2018 DEC 2019

More: 28% More: 32%

SOURCE: Borrell Business Barometer

BeforeCoronavirus,

Local Businesses Were Optimistic


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16%

28%

37%

18%

Very Concerned SomewhatConcerned

Slightly Concerned Not Concerned At All

SOURCE: NFIB Research Center

MARCH 10-11

Are you concerned about Coronavirus impacting your business?

44%Two Weeks

Ago,Things

Changed


Business will be negatively

impacted

43%

Do not expect

to be impacted

20%

Not sure

37%

9SOURCE: NFIB Research Center

MARCH 10-11

How will Coronavirus impact your business?

Impact As Of Two Weeks

Ago


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Of businesses already negatively impacted…

SOURCE: NFIB Research Center

MARCH 10-11

✓ 39% experiencing supply chain disruptions

✓ 42% experiencing slower sales

✓ 4% have sick employees*

* The 4% of owners citing sick employees likely responded this way out of heightened concern and precautions with sick employees showing some signs of cold or flu-like symptoms, not necessarily because they have employees who have tested positive for the virus.


Ago


52%

30%

12%

3%

No measureable steps Stocked up ondisinfectant and hand

sanitizer

Talked with employeesabout sick leave or work

from home policies

Modified supply chain orchanged their buyers or

vendors

11SOURCE: NFIB Research Center

MARCH 10-11

What actions are you taking as a result of the Coronavirus outbreak?


Ago


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• 50% agree with Wanamaker’s lament

• 48% have no strategy for setting ad budget

• 58% unsure they’re spending the right amount

• Most try to handle marketing on their own

*“Half my advertising works. The trouble is, I don’t know which half.” –1900s retailer John Wanamaker

EXISTING CONCERNS ABOUT ADVERTISINGComing into 2020, They

Were ConfusedAbout

Marketing

*


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What characteristics of a media sales rep influence your media buy?

#1Ability to clearly describe audience data/market reach/capabilities of his or her media product

#2 Overall knowledge about marketing and advertising

Local Advertisers’

State of Mind


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Nielsen data suggests that media consumption rises nearly 60% when consumers are asked to stay at home.

WHERE ARE WE NOW?

SOURCE: Nielsen


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WHERE ARE WE NOW?

SOURCE: Comscore.com/Insights

March 18, 2020

Total Digital News Site VisitsAggregate Data of ~40 Selected News Sites

+33%


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WHERE ARE WE NOW?

SOURCE: https://www.broadcastingcable.com/news/coronavirus-crisis-driving-more-local-news-viewing-comscore

March 18, 2020

Coronavirus driving moreLocal TV news viewing

High

28%

Avg.

11%


✓ Healthcare operations

✓ Grocers, farmers’ markets

✓ Convenience stores

✓ Food cultivation businesses (farming, fishing)

✓ Businesses or organizations providing social services

✓ Newspapers, television, radio and other media

✓ Gas stations

✓ Auto repair shops

✓ Banks and financial institutions

✓ Hardware stores

✓ Plumbers, electricians, and other service providers

✓ Shipping and mailing businesses

✓ Educational institutions for distance learning

✓ Laundry services (laundromats, drycleaning companies)

✓ Restaurants for delivery and take-out only

✓ Businesses that ship groceries and supplies directly to homes

✓ Airlines, taxis, and private transportation services

✓ Home-based and residential care for seniors, adults and kids

✓ Legal and accounting services

✓ Childcare facilities, with certain stipulations

✓ Businesses that supply people with items required to work from home

✓ Businesses that supply essential businesses with necessary supplies17

Local SMBS:

What Stays Open?

SOURCE: The Mercury News, March 2020


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✓ Sporting Events

✓ Nightclubs

✓ Travel Services

✓ Colleges, Universities and other schools

✓ Restaurants without drive-throughs or delivery

✓ Movie Theaters

✓ Department Stores

✓ Malls

✓ Hotels

✓ Museums

✓ Casinos

✓ Race Tracks

✓ Tourist Attractions

✓ Amusement Parks

Any business that attracts a crowd of shoppers, workers, sports enthusiasts, or students, and those located near them, including:Local SMBS:

Who’s In Trouble?


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ESSENTIAL AT-RISK LIMBO

Automotive Parts and Supplies Amusement Parks All Other Business Locations

Automotive Repair Services Beauty Salons Apparel and Accessory Stores

Banks Gambling Casinos Automotive Sales

Cable and Other Pay Television Services TV Services

General Merchandise Stores Contractors-Building

Credit and Mortgage Services Ground Transportation Contractors-Specialty

Food Stores-Retail Hotels/Motels DotCom Businesses

Home Health Care Services Live Entertainment Financial Services

Hospitals Movie Theaters Furniture Sales

HVAC Installation and Repair Museums Art Galleries and Zoos Government

Medical Doctors Other Recreation Places Legal Services

Office Equipment and Supplies Physical Fitness Facilities Miscellaneous Retail

Pest Control Services Race Tracks Other Medical Professionals

Radio Broadcasting Stations Religious Organizations Pharmacies

Retail Home Improvement Sports Clubs Real Estate Services

Television Broadcasting Stations Travel Services Telecommunications Services

Businesses fit into three ‘crisis’ categories

Eating and Drinking PlacesColleges and UniversitiesOther SchoolsChild Day Care

Essential AND At-Risk

NOTE: This list is not all inclusive – but represents the top 15 ad spenders in each designation


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New SMB Business Barometer Survey

WE ADDED THESE QUESTIONS:

Which best describes how much your business is being impacted by the novel coronavirus pandemic?

How long do you anticipate the impact to your business lasting?

As of today, have restrictions been put in place in your local area that make it harder for your customers to do business with you?

How is the current pandemic impacting the following:

Your business, in general _____

Your approach to marketing messages ____

What would you like to see your local media companies do to help your business through the next <Pipe in QA answer>?


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When Will It End?

2%

4%

5%

6%

10%

13%

17%

26%

17%

Forever - my business may not make it

More than 24 months

18-24 months

12-18 months

9-12 months

6-8 months

5-6 months

3-4 months

1-2 months

43%say 1-4 months

“How long do you anticipate the impact on your business will last?”


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Restrictions on Local

BusinessesYes

63%Not yet, but

expecting they will soon

22%

No

15%

“As of today, have restrictions been put in place in your local area that make it harder for your customers to do business with you?”


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Why Promotions

Are VitalMATT COENPresidentSecond Street Media


2012 2014 2016 2018 2020 20222006 2008 2010

$299

$250

$122

$266

$226$200

$184

$115$130$134

$122$122$120

$84 $87 $97$106 $129

2

x

2.5

x


What Are Measurable Results?


Foot Traffic


Leads


Build Email Database


Collect Data


Grow Social Followers


Financial


Financial“Are You Ready for Retirement?” | WTRC-FM

● Sponsored by Edward Jones● Generated 6 leads● 136 quiz submissions● 10 opt-ins


● 1,147 entries

● Lead-gen questions such as, “Do you

have life insurance?”

● 618 opt-ins for advertiser

Banks Market Grocery Giveaway!West Kentucky Star

Financial


Spectacular Tax SweepstakesTimes Herald-Record

● 2,126 entries

● 414 opt-ins for advertiser

● Lead-gen question: “Would you like to be

contacted about discounted tax prep from

Orange County Tax, Inc.?”

Financial


Home Services


Home ServicesThe Great Pave-Off | WHAM-TV

● 970 Entries

● 148 Opt-ins

● 66 Request for Estimates

● $250K Business Booked


Home ServicesUgly Furnace Contest | Seacoast Media Group

#secondstreetlab @secondstreet

● Sponsored by Key HVAC

○ Celebrating winning best HVAC

company in Best of Seacoast

● Prize: A new furnace

● 87 photo entries

● $7,100 Revenue

© 2020 Borrell Inc. All rights reserved #secondstreetlab @secondstreet

Home ServicesSpring Rock Your World SweepstakesTri-County Independent

● 1,200 entries

● 351 answered ‘YES’ to Do you have a

planned project in 2019 that will

require stone, masonry work or

landscaping/hardscaping services?

● $4,600 Revenue


Education


EducationMathnasium Quiz | KPWJ-FM

● 25 people asked to be contacted

● 160+ opt ins for advertiser’s database

● 4 campaigns in 2 years

● Led to a bigger, on-air buy


EducationWin Free CollegeRecord-Journal

● Free tuition sweeps

● Community College

● 459 entries

● 279 leads

● $5,500 in revenue for paper


Seller’s Guide

secondstreet.com/sellers-guide


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Advice forMedia Cos. JIM BROWN

PresidentBorrell Associates Inc.


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“Aside from costs or issues related to payments, what could local media companies and/or ad agencies offer you right now that would help the most?”

“Promote us”“Advise!”

“I am not sure anything can be done. Can advertise more right now, but not sure that is wise as people are not concerned about what we sell right now.”

“Perhaps keeping the public informed about local businesses and what we are doing during this time of turmoil.”

“Local Radio or even newsprint to talk to area about local businesses and what is available. Have business owners on air talking.”

“A good way to deliver a calm and confident message to our clients”

“Ideas to keep us relevant even though we cannot interact face-to-face with customers”

What They Want From YOU


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Engaging With

Customers

TIPS

▪ Show empathy – be sincere

▪ Determine the best way to communicate:

▪ email vs. phone vs. in person

▪ Put yourself in their shoes – concerns

✓ Family

✓ Employees

✓Customers

✓ Suppliers

✓ Short term financial concerns

▪ Be a resource

✓Get creative

✓ Talk though the problem and find a solution

▪ Be future-focused, but solve for today

▪ Be confident and positive: We will get through this together!


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Engaging With

Customers

CREATING THE OPPORTUNITY

• Who would be buying jewelry in a time like this?

• How can I serve my members when they can’t come to my gym?

• How do I keep my employees engaged when they are working from home?

• FIND A SOLUTION, USE YOUR RESOURCES


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A New Vocabulary

Advertising

Communications


“Life is like riding a bicycle. In order to keep your balance, you must keep moving.” – Albert Einstein


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Q&A: Type in your questions

Would you like us to conduct a Crisis Marketing Webinar for local businesses? Email us at [email protected]

or call 1-757-221-6641.

A Big Thank You to…

mailto:[email protected]

CRISIS MARKETING WEBINAR What Local …...Can advertise more right now, but not sure that is wise as...

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