Dear ROGER,

Welcome to the November 2024 issue of Key Notes - Marketing Keys' monthly newsletter! As Election Day came and went quickly, we hope this quick read gives you the inspiration to have your business win the race! Key Notes is an informative, quick-read newsletter to get you caught up on all things media and marketing. Our goal is for you to be informed and entertained with the latest media and marketing happenings quickly and efficiently. 

Many companies now are researching ways to improve their marketing departments. This can be done by interviewing propspective media planners/buyers and media management firms.

Senior marketers often face a flood of agency pitches loaded with buzzwords and the latest tech trends. While these pitches can seem impressive at first glance, it’s essential to look past the flashy language and consider the real question: Does the agency understand your target audience well enough to drive meaningful results? Instead of focusing on cutting-edge technology alone, what really matters is partnering with experts who prioritize strategies that deliver measurable business impact.

A key part of any successful marketing strategy is having a deep understanding of your audience. To gauge whether an agency is the right fit, ask questions like, “How well do you know my audience?” and “What unique data insights do you have that can give us a competitive edge?” Agencies should be able to present clear examples of how they’ve applied their audience expertise in past campaigns and back it up with evidence of their success. This is about turning insights into concrete outcomes.

Another key differentiator is understanding media and knowing how to optimize the right dayparts, the right placement with the right messaging. This is so crucial. Yes, many agencies have their own media department. But, how many of those departments really have a deep understanding on how to maximize those media outlets to generate the desired results for clients? At Marketing Keys, our President worked in media for companies such as Disney/ABC for multiple decades which gives us a leg up on how to buy media for our clients. Outside of negotiating the strongest rates, is your agency also getting you value-added such as bonus weight, on-air interviews, sponsorships and more?

Additionally, beyond just knowing your audience, agencies should also have a clear plan for how to engage them effectively. The best partners will propose strategies that fit your audience’s preferences and behaviors without adding unnecessary extras. Ask them, “What’s your recommended approach to engaging my audience?” and “Can you show examples of strategies that worked well for similar clients?” Measurement is also critical. Agencies should provide transparent performance metrics that go beyond vanity stats and focus on outcomes that impact your bottom line. By asking the right questions and focusing on meaningful insights, you can find partners who will help you drive real results.

In today’s marketing world, success relies on the ability to innovate quickly and adjust to new platforms, changing algorithms, and shifting consumer behaviors. Marketers and creatives need to be flexible, updating their strategies to keep up with these changes. A key part of this flexibility is using Key Performance Indicators (KPIs), which provide measurable insights into how well marketing efforts are working. By carefully tracking the right KPIs, marketing teams can make informed, data-driven decisions that align their work with the overall goals of the business.

Keeping an eye on KPIs allows marketers to respond quickly to changes, making it easy to reallocate resources or tweak campaigns as needed. Marketers need to start each project with clear, measurable goals so that everyone understands what success looks like. With the right metrics, marketing professionals can effectively adjust their strategies to improve performance and stay relevant in a competitive market.

Many well-known brands have effectively used KPIs to drive results across different areas. For instance, Amazon’s Prime Day not only boosts short-term sales but also builds long-term customer loyalty by significantly increasing customer lifetime value (CLV). Likewise, Costco’s upgrades to its mobile app have led to a big increase in online sales, showing how important engagement and conversion metrics can be. Starbucks uses its Net Promoter Score (NPS) to enhance customer loyalty through its rewards program, while Coca-Cola’s “Taste the Feeling” campaign focuses on brand awareness and public perception through social media engagement.

As the marketing landscape continues to evolve, it’s important to stay adaptable in how KPIs are monitored and used. Understanding why KPIs go up or down is essential for effective marketing. As organizations grow and their goals change, the KPIs they focus on should also change. By tracking KPIs together and sharing information across teams, marketers can ensure everyone is working toward the same goals. Choosing the right KPI for each campaign helps use resources more effectively and clearly communicates the success of marketing efforts to other departments, reinforcing marketing's role in the organization’s growth.

When brands rush to launch advertising campaigns, they often assume that having an agency, a budget, and a creative direction will ensure success. Unfortunately, this rush often leads to critical oversights in operational and administrative readiness. Achieving true success goes beyond striking visuals and targeted media placements; it requires a solid operational framework to support the increased demand that a successful campaign can generate. If your efforts lead to a surge in interest, are you genuinely prepared to handle that influx?

One crucial aspect of this preparation involves having detailed agreements in place. Many emerging brands rely on generic contracts aimed at self-protection, which may overlook the complexities of a successful partnership. This can result in drawn-out negotiations and delays in launching campaigns, ultimately inflating costs and creating tension. By establishing a comprehensive master service agreement from the start, you can clarify expectations and responsibilities, paving the way for smoother collaboration.

Legal readiness is another critical consideration, especially in the context of employment regulations. As laws evolve regarding the classification of workers, brands must ensure that their legal teams are equipped to navigate these complexities. Misclassification can lead to significant penalties that disrupt budgets and timelines. Ensuring your creative and production teams understand these regulations is essential for maintaining a seamless workflow and avoiding potential pitfalls.

The logistics of delivering on advertising promises also cannot be ignored. A successful campaign can attract a wave of new customers, so your business must be ready to meet that demand. This means having an organized product assortment, a smooth checkout process, and a responsive customer service team prepared to handle inquiries. If your advertising generates excitement but your operational capacity falls short, you risk losing valuable customers. Effective advertising can drive growth, but only if your business is equipped to support that growth from the ground up.

Understanding artificial intelligence (AI) is essential for marketers looking to leverage these technologies in their strategies. Without a grasp of the fundamental vocabulary, discussions about advanced topics like large language models (LLMs) can easily become confusing. Here’s a concise glossary of essential terms that will help you navigate the AI landscape.

AGI (Artificial General Intelligence): AGI refers to a type of AI that can perform any intellectual task that a human can do, representing a significant milestone in AI research.

AI (Artificial Intelligence): AI is a broad field that includes various technologies designed to mimic human intelligence through tasks like learning and problem-solving.

AI Agent: An AI agent is a software program capable of making decisions and taking actions on its own to achieve specific goals without constant input from users.

AI Washing: AI washing occurs when companies exaggerate or misrepresent their use of AI technologies in marketing efforts.

Chatbots: Chatbots are AI-driven applications that assist users in completing tasks or answering questions, commonly found in messaging platforms and websites.

ChatGPT: ChatGPT is a generative AI chatbot utilizing GPT technology to generate responses based on user input and trained on vast amounts of text from diverse sources.

Deepfake: Deepfakes are digitally altered videos or audio recordings of individuals created without their consent, often used for misleading purposes.

Dynamic Pricing: Dynamic pricing is an AI-enabled strategy that adjusts prices for products or services based on real-time consumer data and market conditions.

ElevenLabs: ElevenLabs is a text-to-speech AI platform commonly used in conjunction with other generative AI systems to add voice capabilities.

Generative AI: Generative AI is a form of AI focused on creating new content, such as text, images, or videos, based on prompts provided by users.

GPT (Generative Pre-trained Transformer): GPT is an AI model that generates human-like text based on extensive training from various data sources.

Hallucination: Hallucination describes instances where an AI system produces incorrect or misleading information while presenting it as factual.

Image Recognition: Image recognition is the ability of AI to analyze visual data and identify patterns, which can provide valuable insights for brands.

Large Language Models (LLMs): LLMs are advanced AI systems specialized in language tasks, capable of producing coherent and contextually relevant text.

LLaMA (Large Language Model Meta AI): LLaMA is a generative AI model developed by Meta that functions as an LLM similar to OpenAI's GPT and powers many of Meta's AI applications.

LoRA (Low-Rank Adaptation): LoRA is a method for fine-tuning AI models, allowing brands or AI companies to create more customized media by training an open-source model to suit specific needs.

OpenAI: OpenAI is a prominent AI research organization known for creating influential tools like ChatGPT and DALL-E.

Runway: Runway is an innovative startup focused on AI-driven video production, known for creating realistic short films and partnering with other companies for new projects.

Small Language Models (SLMs): SLMs are compact AI models designed for specific language tasks, requiring less computational power than LLMs while offering effective performance for nuanced purposes.

Synthetic Data: Synthetic data refers to information generated by AI that simulates real-world data, often used for testing and research to avoid privacy issues.

As election day came and went with a quick, decisive decision, there have been some concerning trends.

This is in regards to recent findings regarding voter behavior in the United States. Many voters feel compelled to misrepresent their political choices, primarily to maintain harmony in personal relationships. Alarmingly, 48% of Gen Z respondents admitted to lying about their voting choices to someone close to them, contrasting sharply with 38% of Millennials, 17% of Gen X, and only 6% of Baby Boomers. Overall, 23% of Americans acknowledge they have lied about their vote, while an additional 22% say they might do so in the future.

The implications of this trend are particularly troubling when it comes to family dynamics. A notable 33% of Americans reported feeling "disenfranchised" from a family member over political disagreements, with the number climbing to 44% among Gen Z and 47% for Millennials. This suggests that political discussions have become a source of division rather than unity within families. Interestingly, while 58% of respondents believe voting should be a private matter, the survey leaves some ambiguity about the 42% who do not. This raises questions about societal expectations surrounding political transparency, despite the fact that voting is inherently a personal choice.

The data also reveals differences in honesty based on gender and political affiliation. Men are reported to be twice as likely as women to lie about their voting intentions. When broken down by party lines, 27% of Democrats admit to concealing their vote, followed closely by 24% of Republicans, while only 20% of Independents say the same.

Here is a recent highlight from Marketing Keys' blog page. Please start following our blogs and let us know what you think.

How a professional media planner can make your life easier

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Whether you've been at your marketing position for 1 year or for 20 years, the pressure to produce and come up with the right strategies to reach your target audience is always there.

You no longer need to go about this on your own with 100% of the pressure. Now, you can collaborate with a media expert to help you with the latest, most effective and most efficient media strategies.

We can help by placing your campaigns in the right places, at the right times with the right frequencies. We'll make sure your campaign succeeds by examining the cost effectiveness, engagement potential and audience suitability of different media channels.

It is also critical to reach your customer on multiple platforms. This is how they are spending their media day. Therefore, it is critical that your messaging gets targeted and delivered in multiple online and offline ways.

As a 12 year former Disney executive with 30+ years in the business, I have discovered the best ways on how brands can cut through the clutter to reach their target.

By teaming up with us, we make the process enjoyable with minimal stress.

Furthermore, we will listen to you and always be committed to you. We strive to run our business with passion and humility all with the utmost integrity.

We look forward to empowering you to do your best work.

Until next month,

Roger Keys

Founder and CEO

Marketing Keys

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