Greetings!
Welcome to the May issue of Key Notes - Marketing Keys' monthly newsletter! We are wishing all the special Moms out there the happiest and healthiest Mother's Day! You know who you are and we all realize how important you are to everything around us. 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.
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Is Mom's Day coming Sunday? |
How much are you spending on Mom this Mother's Day?
Mother’s Day is a sentimental holiday for many, and consumers are willing to spend more to honor their mothers. Mother’s Day spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending, according to the annual consumer survey released today by the National Retail Federation and Prosper Insights & Analytics.
Are you still searching for the perfect gift?
Consumers are planning to spend $25 more this year on Mother’s Day purchases and are expected to spend a record average of $245.76 which includes gifts and/or dining out.
Gifts of experience like concert or sporting event tickets will be given by 27 percent of Mother’s Day shoppers, an increase from 23 percent last year.
How are you shopping for Mom's gift(s)?
Over one-third of consumers are planning to make their purchases online. Another 30 percent of consumers are planning to shop at department stores, 27 percent at specialty stores and 23 percent at local small businesses.
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Do your kids control your pocketbook? |
You may not realize it but your children greatly influence your purchasing.
Children might become a brand's best friend. What they lack in money, they make up in purchasing power. Parents structure their purchases around them. And not just small purchases. Where do they want to go on vacation? What kind of car do they like to drive in? The list is endless, and there is a huge market opportunity for brands to tap into.
According to research conducted by HappyKids, 67% of parents say they are heavily influenced by their children when it comes to what they decide to purchase, and from where. This ties into what ads children see and how they talk about it, as 87% of kids 9 – 12 years old talk about ads they see with their family. Overall, families talk about streaming TV ads more than any other media platform. Streaming TV even beats out what they see in video games, TikTok and other social influencers.
Since kids and parents are now watching more TV together than ever before, that leads to them becoming much more aware of brands they see on CTV. Kids now have specific opinions on brands based on the ads they see. If they like certain ads and the products they’re selling, that kickstarts the brand journey a lot earlier than expected. Advertisers love that they could have a loyal customer base for much longer than years prior.
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Is your state rejecting online targeting? |
It is becoming more and more challenging for brands to target consumers online. There are privacy laws and then there are states that are making it impossible to target consumers online.
Connecticut might become the fifth state that allows consumers to reject online ad targeting. The Connecticut bill passed in the House by a vote of 144-5 and the state Senate unanimously passed the measure. If Governor Ned Lamont signs off on it, beginning as early as July, 2023 Connecticut residents will have the right to learn what data has been collected about them and opt out of its sale.
The bill would allow consumers who don't want to receive behaviorally targeted ads to opt out once and for all with a single command, as opposed to clicking on opt-out links throughout the web.
The Connecticut bill is considered “more workable” than some other state laws. In Utah and Virginia, the laws don't require companies to comply with global opt-out signals. Colorado's privacy law includes a provision requiring companies to honor universal opt-out signals, and the California attorney general has said businesses that collect personal data must comply with opt-out requests sent through the Global Privacy Control. Connecticut's bill also requires companies to obtain people's opt-in consent before processing "sensitive" data. This includes information about their race, religion, health condition, sexual orientation, biometrics and precise geolocation.
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Are Student Athletes now selling out? |
Did you hear NBC Sports will be the first media company connecting advertisers with student athletes?
Long gone are the days where student athletes weren’t allowed to take advantage of sponsorships or endorsement deals. NIL deals are becoming all the rage and NBC Sports is getting in on it.
The network’s platform “NBC Sports Athlete Direct,” will help connect advertisers to college athletes who are able to get paid for endorsements under so-called name, image, likeness rules that have been in effect since July. This is available for athletes at Notre Dame, Vanderbilt University and Temple University. The athletes will be given opportunities to monetize their social media followings. NBC Sports also pledges to collaborate with the universities to create content for student-athletes and collaborate with CNBC to provide personal finance resources.
While compensation varies widely, Division 1 athletes are bringing in an average of $594 via Name, Image and Likeness deals, according to Opendorse.
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Are advertisers shifting to this strategy? |
Which medium is seeing one of the largest projected growths in spending this year?
As brands move away from third-party cookies, they look to connected TV advertising to target their audiences. Connected TV ad spend is expected to grow 39% this year to $21.2 billion, according to the Interactive Advertising Bureau. One of CTV's biggest differentiators over linear TV is the ability for advertisers to leverage things like first-party data, location data and shopping data, according to the survey, which was conducted in partnership with Standard Media Index (SMI) and Advertiser Perceptions.
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Here is a recent highlight from Marketing Keys' blog page. Please start following our blogs and let us know what you think.
Get the latest insight here!
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Get help from 'The Mouse'! |
In my previous life, I worked for many media companies including the one headed by the Mouse. During my 20 year executive run with media companies, I had noticed that if an advertiser wasn't properly represented with a media expert helping them with their media planning and buying, then that company was at a disadvantage. Thus, I created a company to provide a solution to that problem.
Marketing Keys was formed in July 2007 to more than level the negotiation playing field between advertisers and media companies. We enabled advertisers to have a major leg up in the process.
We targeted Presidents, CEOs, Regional Managers, Marketing Directors, CMOs, etc. of small and mid-sized businesses. We then went to market with our 'key' differentiator and mission. During the last decade, the company has grown from 2 clients in 2010 to presently close to 20.
To find out if we can help build on the results that you had started and eliminate the inherent disadvantages of buying media on your own, please reach out to us HERE!
Thank you for your loyalty in reading our newsletters. If you know someone where this information may be helpful, we appreciate you sharing it. In the meantime, we will continue to keep you at the forefront of the latest marketing strategies and news.
Until next month,
ROGER KEYS
MARKETING KEYS
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Chicagoland may have not had the best Spring but golf weather will be here before you know it!
Join us for the 2nd Annual Links & Drinks Open at Klein Creek Golf Club on Friday, June 3rd!
Whether you are a scratch golfer, a weekend warrior or just starting out, this event is for you!
Join on-air personalities from (3) major Chicagoland radio stations - WLS-F, WLS-A, WKQX-F - for some fun and games out on the links!
Your entry fee includes a special gift bag, a pre-tournament lunch, 18 holes of golf with cart on an esteemed course, contests on the course, an Awards Dinner, prize giveaways and so much more!
Enter to win raffles that include tickets to The Lumineers, Duran Duran, The Black Keys and other big name artists! For more info and to buy Tickets click HERE
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Is it time to stimulate your mind?
Newberry Adult Education classes can help you kickstart or elevate your creative and intellectual juices. This summer, they're covering a range of mind-expanding topics, from literature to public art and genealogy. Browse the full Summer 2022 calendar: HERE
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It's time to bring out the animal in you and run for Chicagoland's most precious 'free' zoo!
Run for the Zoo registration is open for the 5K run/walk, 10K run, and the Kids’ Course! All proceeds from the race help keep Lincoln Park Zoo free and open to all, as well as support the zoo’s world-class animal care and global conservation efforts. Sign up TODAY!
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Are you Socially Challenged? |
During my 15 years as a business owner, I have discovered there are many companies out there that are challenged with the task of managing their social media.
It may be that they are confused over the platforms that they should use, the content they should post, how to boost that content and/or the time or lack thereof that goes into managing their social media platforms.
As a Social Media partner of ours, our Social Media expert will manage and strategize daily on your sites. We will also coordinate all communication so there are no surprises while all of your initiatives are scheduled accordingly.
For more information, please contact Marketing Keys at (312) 375-5007 or you can email us HERE!
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Fill up your Lead Generation funnel! |
In the days of Mad Men, creativity was everything. The goal was for a brand to be the most creative creating a tag line to resonate with the audience. Now, creativity takes a back seat to targeting through data and reaching your target synergistically through multiple mediums with an integrated marketing campaign.
Find out how Marketing Keys can help generate (on average) an incremental 30-35% more in leads and/or conversions through our system.
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