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Media, the Internet, Yellow Pages, and Your Business
If you are reading this article, chances are you could use a little extra money. With the advent of the internet and the migration of advertising dollars from print to electronic (and this time, it's the real thing, I swear! Not one of those 1999 tech busts!...Seriously!) If you own a small business today, you look at many advertising mediums. The majority of these mediums lump themselves into 2 categories, creative or direct. Creative has always been the crapshoot for the small business owner. A sales rep walks into your business, espousing the greater good of television or radio advertising, quickly moves past the ratings, viewers etc and into the sexiness of hearing your name at 6:57am Monday, Thursday and Saturday if you are watching station X or listening to station Y. If this product didn't work, a Super Bowl commercial price tag wouldn't make headlines every December (for how much Geico paid) or late February (to hear which is most memorable). The key with creative is frequency. If you have realistic budget for frequency, you can make the phone ring with a creative campaign. If you have that budget you probably aren't reading this article. Realistically speaking, you don't have a ton of money to risk on creative advertising effectiveness, haven't backed it up with a call to action, and you need, pound for pound, the least amount of advertising money possible, with the most phone calls? Enter direct advertising. Classified sections in newspapers, they make your phone ring, if you're selling something people want. (For the record, advertising in the sports section of your local paper is creative advertising (people don't go to page 5 of the sports to regularly check out the latest prices on used cars.) Classified advertising is in the process of going from the newspaper industry's cash cow to taking it on the chin from EBay (ever heard of it?) and even more attractive small town slugger, Craigslist (you go Craig!). If you're business pumps out used cars by the pound, chances are you, or your salesmen are using these two websites to start realizing savings from Rupert Murdoch and his yacht-owning cronies. Even the best of EBay or Craigslist, however, doesn't put much of a dent in your P&L statement if you are service based like a contractor, or general retail, like a bookstore. Enter the yellow pages?Pound for pound, no other medium makes the phone ring at your business like the good old fashioned yellow pages. Throw down your money, and answer the phone. You already know that. So do all the TV stations, radio stations, and newspapers in the country. The best protected advertising budget in any small business is the yellow page budget. Yellow pages are the scourge of the other guys. How many radio sales reps will walk into your store after you started your advertising campaign and say, "Tom, your $1,000 invested with my station this week got you 48 phone calls?" (If you find a station like that please send me the phone number, and I retract everything I said earlier) When someone wants a plumber, a pool boy, a new pool, or a divorce attorney for getting the new pool without his wife's approval, they pick up the weathered old yellow pages, leaf through a few adverts, and call someone that sells what they need. So, am I telling you to advertise in the yellow pages?,,, Not so fast Skippy?First, let's look at the cost of the yellow pages,?You want the phone to ring in Miami, and you're a plumber? Better be ready to pony up some serious cash?say $3-4k per month. In Miami, the average cost of a service call could be around $65. If you don't have a crew, that ad needs to generate 61 calls to break even, not including the employee cost, travel costs etc. Not so bad? How many calls did you need to generate those 61 service calls? Did you go see everyone that called you? I would guess, for a contractor, you might get lucky and have a 50% close rate?122 calls?to break even. Don't forget to pay yourself?200 calls. Depressed? Better be glad you don't sell shoes. The same ad would generate a much lower close rate, and you need to sell an dump truck of shoes every month! What's my point? Enter the ELECTRONIC yellow pages?No print bill, real time changes, and guess where all those print yellow pages are putting their money these days? BellSouth and SBC just paid $100M (you know, $100,000,000) for a new domain name, and combined their "competing" forces to make a better entry in the fray, thinking that you might remember yellowpages.com better than smartpages.com or realpages.com. (Makes you wonder where Google fits into the old branding and name recognition game.) Verizon seemed to get the concept a little better with superpages.com by aligning with Mr. Gates over at MSN right around the time Al Gore was inventing the internet. Getting back to the point, the internet yellow pages are going to do to print yellow pages what EBay and Craigslist have done to the newspaper companies. No paper, no ink, usage climbing (for electronic yellow pages, usage is climbing to as high as 70% of online searching, and buying) and real-time, do-it-yourself advertising. Advents such as community ranking, mini-sites, toolbars, pay per click, pay per call, and just about every way possible to pay for performance, track performance, and see what other buyers of your goods or services thought of your business. Due to the ever changing, "who's in first place" of the internet, there has yet to be determined if there is a Lance Armstrong in this race. Our own company USdirectory.com, via its partnerships, and investment into technology, is looking to become a late entry, blue-ribbon bearer. At this point, it's too early to clearly point out which one, or all, or none, of these companies will do to yellow pages what Google did to global search. That being said, even Google doesn't reflect enough tenure to ensure its own top position. Who wins?? You do, the business owner. Technology is about to reduce your advertising budget the way Southwest and JetBlue changed the airline industry. Your customer base, as they migrate to the internet as vehicle of choice, will reach you at lower price points, and in greater volume, then ever before. Your mission, should you choose to accept, in investing in the right mix, at the right point, and try to cater not only to your existing radius of business, but around the planet with new and specialized niches?but that's another story. Skip Middleton
Latest News:Site: Yahoo! News Search Results for news Game news: 'GTA IV' hits 10 million, EA meets ESPN (AP via Yahoo! News) Real news from the virtual world: News and notes on the PGA Tour's top 20 golfers (USA Today) Get the latest news and notes on the top 20 golfers on the PGA Tour. These rankings are based 2006-07 PGA Tour results. UAL shares walloped by new posting of old news (Reuters via Yahoo! News) A nearly 6-year-old news story on the 2002 bankruptcy filing of UAL Corp resurfaced on the Internet on Monday, clobbering the airline's shares briefly as some traders mistook the report as current and plausible news. Asyncast delivers custom news to hands-free mobile devices (CNET) The company's Rocketron service allows users to set preferences for the kinds of news stories they want to hear, as well as filter controls for news they don't want. Young adults want less election news (UPI) EVANSTON, Ill., Sept. 8 (UPI) -- U.S. young adults say there is too much election-related news on Internet news sites, a university study indicates. CNET News Daily Podcast: The new Zune plays its tune (CNET) Microsoft lets "slip" Zune news one day before Apple's big shindig. Big ad group says Google-Yahoo is a bad idea. Who says real spies don't dig social networking? Game News: 'GTA IV' Hits 10 Million, EA Meets ESPN (CBS News) Real news from the virtual world: ABC News gets first Palin interview (Reuters via Yahoo! News) ABC News' Charles Gibson has snagged the first interview with Alaska Gov. Sarah Palin since she was named the GOP's vice presidential pick on August 29. United Airlines hit by 5-year-old news (UPI) CHICAGO, Sept. 8 (UPI) -- United Airline's stock value plunged Monday after a 5-year-old news story was posted on a Florida newspaper's Web site. UPI NewsTrack Entertainment News (UPI) Spears wins 3 MTV Video Music Awards ... 'Wrestler' wins Golden Lion in Venice ... Report: MSNBC shuffles election anchors ... Iconic Astroland park closes ... News from United Press International. Site: news - Google News Palm Shares Soar As New Smartphone Wins Wall Street Praise - CNNMoney.com
MORE RESOURCES: Site: Yahoo! News Search Results for advertising Ad-averse Mobile Users Will Pay to Avoid Advertising (Cellular-News.com) Mobile providers looking to boost their revenues through content downloads and advertising are in for a rough ride, according to a new study by market researchers TNS. A Web advertising dark horse goes on the offensive (Market Watch) While its rivals have been fetching multibillion-dollar acquisition offers from the likes of Google Inc. and Microsoft Corp., online-advertising firm ValueClick Inc. has been busy digging its way out of a legal mess. Intergi's Video Game & Entertainment Advertising Network Has Largest Potential Reach in U.S. According to Newest ... (Centre Daily Times) Intergi (www.intergi.com), a leading video game and entertainment site representation company and advertising network, today announced that it now has a total potential advertising reach of 52.4 million unique visitors in the United States, topping other targeted ad networks - including bellwethers such as Advertising.com Games and Yahoo! Games. Based on the latest data from the August 2008 ... Largest ever advertising billboard at London Bridge Station (London SE1) A huge advertising billboard has been unveiled at London Bridge Station to promote the NSPCC and brighten up hoardings on the concourse. Online Brokerage Sites See Increased Visitors With Ramped up Online Advertising Efforts (PR Newswire via Yahoo! Finance) comScore, Inc. , a leader in measuring the digital world, today released a study of the online trading and brokerage industry showing strong visitor growth to online brokerage sites coinciding with heavy online advertising efforts by several of the key brokerages. Advertising spend in Qatar crawls (MENAFN) Advertising spend in Qatar crawls Intergi's Video Game & Entertainment Advertising Network Has Largest Potential Reach in U.S. According to Newest ... (Business Wire via Yahoo! Finance) DEERFIELD BEACH, Fla.----Intergi , a leading video game and entertainment site representation company and advertising network, today announced that it now has a total potential advertising reach of 52.4 million unique visitors in the United States, topping other targeted ad networks - including bellwethers such as Advertising.com Games and Yahoo! GCC advertising expenditure rises by 23.6% (MENAFN) GCC advertising expenditure rises by 23.6% NeoMedia and Format Dynamics Join Forces to Integrate Innovations in Online & Offline Advertising (Marketwire via Yahoo! Finance) NeoMedia Technologies, Inc. (OTC.BB: NEOM), and Format Dynamics, Inc., today announced a strategic alliance designed to accelerate innovation in both online and offline advertising. Bald Is Beautiful (Advertising Space) (CBS News) New Zealand's national airline is offering to pay bald travelers to use their heads - literally - in a new advertising campaign. Site: advertising - Google News SMU to launch graduate advertising program - Bizjournals.com
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