Marketing 101 for the 2010s 

With 2009 now mercifully behind us, it’s tempting to cast a jaundiced glance back at bank failures, layoffs and devastated stock values. Nobel laureate Paul Krugman, writing in the New York Times, did just that the other day, marking ‘09 – and the whole of the ‘00s, for that matter – as a big fat “zero.”

On this New Year’s Day, however, we’re not going to dwell on the past. Rather, we’ll take a look at some predictions for 2010, courtesy of Boise-based tech startup Balihoo.

And Balihoo’s a good source for some predictions – it knows a thing or two about change. Making its debut in 2005 with a suite of Web-based media planning software, the company took off but suffered as capital dried up and businesses pulled back across the board.

In response, Balihoo shifted from its media marketer-to-buyer software, and into something it calls “Local Marketing Automation” – a platform that enables national brands and franchises to easily customize their messaging for local markets.

So far it’s been a prescient move. National quick-serve restaurant chain Quiznos signed on as a customer in June 2009, and in August, Balihoo announced $7 million in new funding led by a Boston-based VC firm. Today its clients include more than 25,000 local affiliates with more than $180 billion in annual revenue.

As the old saying goes: “The only constant is change,” and heading into the second decade of the 21st century, Balihoo sees a number of big trends:

• Local Television: An increase in programming options means viewers are taking in a lot more shows. This gives local TV advertisers more opportunity to focus their messages on smaller, more targeted groups of viewers. Balihoo sees more local businesses using TV – particularly cable – to reach these refined, segmented audiences.

• Local Newspapers: While print advertising has declined, online newspaper advertising has been expanding. Balihoo thinks online advertising for local newspapers will flatten – maybe decline – and papers will have to adapt to new delivery platforms like the Web and mobile devices. The exception will be rural or hyper-local news providers, both in print and online.

• Direct Mail: No-call lists, e-mail spam rules and untargeted broad media have closed the door on many scatter-shot forms of messaging. In the coming years, better targeting and new, advanced tools to personalize messaging and track results will lead to a surge in old-fashioned direct mail.

• Mobile: The smartphone revolution has moved mobile advertising from primarily text message-based, to include images and video. Still, Balihoo sees mobile marketing at the local level “as more sizzle than steak,” and limited to all but the “trendiest of trendsetters.”

• Search Engine Optimization: Otherwise known as SEO, improving your company’s standing on the search page was a popular strategy in local marketing plans during 2009. That’s likely to continue, increasing competition across the board.

• E-mail: E-mail marketing at the local level has been slow-growing because of marketers’ inability to collect relevant customer data. Because of that, Balihoo predicts local businesses will place a greater emphasis on collecting customer data and using it for e-mail outreach.

• Social Media: One of the central buzzwords of the latter ‘00s, marketing via social media has become a staple for firms of all sizes. That trend is only going to increase, but Balihoo thinks local marketers will stick to tried-and-true sites like YouTube, Facebook and Twitter. Other, more esoteric, social media will get a pass until later in the decade.

• Point-of-Purchase: Also known as in-store marketing, point-of-purchase held steady in 2009, though a significant rise in these methods is expected as local marketers look to increase in-store sales.

• Integrated Marketing Communications: While local businesses haven’t always been good at integrating their marketing across multiple channels, they’re going to have to as audience sizes shrink and targeting options increase.

• Measurement and Metrics: With a sour economy every dollar counts; and local marketers were obsessed in ’09 with measuring and optimizing the ROI of their campaigns. New tracking technology that works at the local level has given businesses expanded abilities, and Balihoo figures the trend will continue to grow.

• Creative and Branding: Consumers saw a lot of economic bloodshed in 2009 and they’ve become jaded. With giant brands falling almost over night, local marketers know that customers are leery. Adapting to that, Balihoo thinks the trend will be to shore up brand values using social media, in-store and personal interactions with consumers.

Regardless of what 2010 holds in store, the Idaho Business Review wishes you a happy – and profitable – New Year.

NEW! Online only subscription. 24/7 access to premium online subscriber content for only $79.00 a year!
CLICK HERE TO SIGN UP TODAY!

Comments are closed.