Friday, April 25, 2014

AMIR14 : WMC APRIL 2014 ( W5-8 of 52 )


WMC 2014 - March 21-30, Miami, FL

Almost 30 years ago the first Winter Music Conference was started in 1984 by Louis Possenti and Bill Kelly, since then it has grown to be the largest electronic dance music event of its kind.

WMC is attended yearly by more than 300,000 dance fanatics, 100,000 business seminar enrollees, 3,500 music industry professionals and on average a staggering 2,000 performing artists and DJs showcased at over 500 seminars, workshops, parties and exhibits over the course of 9 days.

Last year there where more than 400 accredited journalists covering the event. It is expected that this year 56% of the attendees will be in the 22-30 age demographic while 32% will fall in the 31-40 year range.  Reported income levels range from 26% earning $70,000 or above and 37% earning $35,000 or below, leaving the remaining 35% at the $35,000 to $70,000 level.

As far as educational levels reported 39% had earned an undergraduate degree, 27% where currently attending college, and 12% where either high school graduates or attending high school. The remaining 22% had graduate degrees or enrolled in masters programs.

The industry professionals represented include 12% song-writers / artists, 11% disc jockeys, 11% producers / re-mixers, 9% music labels / AR, 7% managers, 5% journalists, 5% booking agents, 5% venue / event promoters and ticketing, 4% multi-media creative, 3% marketing and PR, 3% advertising and brand creation, 2% PROs and publishing, 2% legal services, 2% radio, 2% digital distribution, 2% technology, 2% software, 1% social media, 1% film/TV, 1% event staging / lighting / sound, 1% recording engineers / studios, 1% music festivals.

Now with such a large audience what where some of the traditional advertising and marketing opportunities available at this years Winter Music Conference?

EXHIBITING BOOTH
Exhibiting during the event for face to face contact with industry and artists is available..
* 8'x10' Booth can cost $1850 giving the company
* 1 FREE Delegate Registration for the event
* Display of your company sign  ( 7" x 44") 
* PLUS 1 FREE 1/8 Black and White ad in the conference guide.
Standard convention amenities provided ( 2 Chairs, 6' Table,  8' Back Drape, 3' Side Drape )

REGISTRATION PACK/SACK
Includes, branded sack and lanyard
* Conference/Consumer Guide ( 35,000 printed )
300 dpi PDF / EPS / Jpeg (CMYK) requirements
Ads larger than  6 MB that must be compressed or delivered on CD
* The Guides have various advertising options including : 
Inside Front Cover 
Inside Back Cover
Full Page $3250 
1/2  Page $1950
1/4  Page $1170 
1/8  Page $480

MARKETING INSERTS
Marketing Collateral ( 3250 qty )
* Can be included in the attendee registration sack in the following formats :
Letter size ( 8x11) $1470
Brochures and Catalogs $2059
Publications $3353
The events can offer Video Kiosks as well but you must provide a DVD Video Master using DigiBeta, BetaSP, Beta or SVHS formats and subscribe to a per day rotation of 2-8 Plays per day at a cost of $350 to $1250 for a 4 Minute or less branded video.

MUSIC CD
Music CD Compilation must in provide CD Audio Master at 44.1khz/48Khz and be properly labeled with Track, Title, Time, Writer, Publisher and contact info as well as being less than < 4 Minutes total running time to be included there is a charge of $750.
WMC 2014 INFLUENCIAL PANELISTS

JUMPSTART YOUR CAREER
CREATE AND MANAGE YOUR EVENTS 
SOCIAL MEDIA FANS 
Facebook, Twitter, YouTube, Vine, Pinterest, SoundCloud and MixCloud 
BLOGS
ADVERTISING/MARKETING
BRAND-BUILDING
REVENUE STREAMS
ENTERTAINMENT LAW 
Entertainment attorneys for copyright and trademark,  distribution and licensing, touring and merchandising, online retail and mobile app linking, digital downloads and social media, digital performance and live show royalties, PROs and interactive service payments.

TRADITIONAL ADVERTISING

According to a recent IBIS world report there are close to 13,000 advertising and marketing companies employing almost 170,000 marketing professionals while the Bureau of Labor Statistics reports more than 2,600,000 supporting workers for the advertising, marketing and promotion industries. These include sales managers, producers, animators, art director, actors, editors writers and graphic designers along with many other professionals that have direct input in the creation, management and monitoring of ads for Print, Radio, Film, Broadcast TV, Cable and the internet.

A good advertising campaign can help larger companies that can afford to budget for expensive production and extensive coverage to launch, grow and innovate as they cycle, mature and decline. They can purchase multiple branding channels of communication and saturate a market so a consumers mind is filled with their message. Pervasiveness of brand at the consumers point of sale will reinforce and stimulate the IMPULSE BUY from need to WANT which account for  2/3 of all purchases made at malls and in general throughout the economy as a whole. 

Today's agencies know this and charge a standard 15% commission on their media buys while accounting for 2%-3% of the 17 trillion in US GDP.  Their advertising effectiveness depreciates by 30% within a short 12 month cycle. The 300-500 billion in advertising spending is split  60% nationally and 40%  on local markets among the various mediums roughly as follows : 23% on print advertising and direct marketing although the general consumer is only engaged in that activity 6% of the time, 42% on TV as it should be considering that the average American spends 44% of their free time watching the tube, 22% on web advertising reflecting the average American who spends 26% of their free time surfing and 10% of the ads go to radio which takes up 14% of consumers discretionary free time. Last but not least 2% of the money goes to mobile which is expected to grow from its current 12% of our free time to more than 50% due to smartphones and broadband ubiquity.  By the way, mobile advertising is expected to grow by 2015 to almost 400 billion usd in ad spends and  account for more than 10% of all retail sales.    


So how do companies  and advertising agencies decide where to spend 1/4 trillion dollars?


They segment the 314 million US population into geographic, demographic, psychographic and psynographic categories. Conduct market and marketing research in order to determine message, tone, voice, reach, frequency and  distribution variables for their ad campaigns and media buys.

GEOGRAPHIC fields are generally standard labels like country, state, city, zipcode, area code but things get a bit more sensitive when talking about demographic data.

DEMOGRAPHIC data like gender as in male, female, gay, lesbian bi-sexual, trans-gender or religion, ethnicity, language, education, income, and family size.  Age is one of those values that we are all accustomed to. ( 13-17, 18-24, 25-34, 35-44, 45-54 , 55-64, 65-74, 75+ ).

PSYCHOGRAPHIC and PSYNOGRAPHIC attributes are given to lifestyle purchasing options like attitudes, beliefs, values and social versus self image as it relates to purchasing decisions like "Keeping up with the Jones" and  the psychology of impulse  buying.

ADVERTISING PARTNERS

A good marketer will wear many hats but a great marketer will bring many heads together including the Chief Executive Officer, The Chief Marketing and Chief Information Officers as well as the Chief Financial Officer to the round table for strategic and tactical agreements.  Perhaps your company is not that large and in fact you are one and the same as far as dealing with the operations , marketing, technology and accounting for your company. If that is the case these next few pages are really important for you.    

In fact, large companies utilize not only the human resources capabilities to expand exponentially and act quickly but also technologies like ERP enterprise resource planning software like People Soft or SAP, Lotus Notes, Siebel, Salesforce and many others depending on your industry. These tools have allowed small ideas to blossom quickly through what some have called the data store.

Much like the industrial revolution streamlined physical production of goods by centralizing the tools of production in the factory floor, the digital revolution and the web have aggregated their intellectual service tools on the cloud and now most companies are protected from expensive internal solutions that require challenging API integrations. These are now simply provided with turnkey solutions that increase productivity and decrease your operational costs by scaling at will.

Now, traditional marketing programs can be handled in house either by one marketer or a small department but depending on the number of projects, the frequency and the complexity you may decide to invest in your own marketing department or outsource to one of the 13,000 advertising / marketing agencies available. Consider that the cost of a seasoned national marketer can run in the median range of $80,000 dollars a year or roughly $40 and hour so it may be prudent to test your metal by outsourcing to an agency of record and opting to pay the retainer fees and advertising costs instead of a full salary to employees.

With the explosion of marketing software and the internet you may be able to sample some freelance work or perhaps contract help on a flat per project fee basis. Further more there are many marketing consultants that prefer a flat fee plus a percentage of growth or business generated through the campaign especially if your project is digital in nature. Remember that local and regional projects will always be a good place to start before you expand into more advanced national and international markets.         

Last but not least, consider the co-op, referral or affiliate advertising and marketing models where you reach out to complementary companies and work together to recruit your best customers as champions of your product with loyalty rewards. This was known as revenue sharing in the old days and today it is more commonly known as affiliate programs.     

Should you decide to outsource this aspect of your  business please consider that the marketer will want your business development staff to have a product catalog that is priced competitively and ready for consumption with a pricing model of Cost+ IMU Markup, Premium Pricing, Bulk Discount, Wholesale tiers or One Off / Lost leaders. This will accelerate your time to market. 

IN-SOURCE / OUT-SOURCE

Should you relinquish such an important part of your sales growth to a perfect stranger or an imperfect friend? Certainly the resources necessary to run these campaigns can be more than you might expect and cost a lot more than you would be willing to invest. If only for that reason it might be justification enough but the reality is that even advertising and marketing agencies are having a tough time assimilating the necessary skills and technology needed to integrate digital marketing and traditional marketing into a cohesive line-up of products called Integrated Marketing. 

According to www.inc.com's top 5000 agencies report, IPG, Omnicom, Publicis, WPP, BBDO, Ogilvy, Leo Burnett are among the biggest agencies in the world. They are responsible for iconic campaigns like the Marlboro man for Phillip Morris. These ads made an indelible impression in our collective consciousness and for that the advertisers & agencies were nicely rewarded. But even these companies continue to merge for size and acquire new comers for scope to keep up with emerging technologies.            
The times have changed and we are no longer a nation of naive followers but rather a culture of individuals seeking personal expression and attention. Perhaps this is why most large enterprises are willing to manage a roster of 50 to 100 agencies as www.forbes.com reported instead of consolidating to one or two? I think that in this ever changing era where every 18 months there's a new and improved technological advance that revolutionizes and disrupts established transactional norms of conduct, you can not just pick one partner. Advertisers, like consumers need the flexibility of many options if only to keep the agencies as honest and efficient as possible, working hard to understand the "Next Big Thing" and how the advertiser can earn another customer in this faster than light economy.    

Advertising agencies have a hard time justifying that their advertising drives as many sales as expected. Direct Marketing agencies went further in setting up models to track their success but they both continue to have difficulties evolving to the urgency of now and the web of tomorrow.

For example take a simple paper sales sheet .
..
The paper, weight, color, brightness, texture, opacity must be chosen long before it is deployed. The ink might be PMS pantone, CMYK separated, soy based, metallic, varnished, UV coated, acquesed or silk-screened BUT can only be printed ONCE in 1 - 4 color, digital or webpress. The message can be indicative, imperative, receptive, persuasive or active, but not contextual in real-time and this is just for a single sales sheet. We are not even discussing the mailing list, mail/purge, address verification and USPS postage, sorting and mailing if you wish to send it out. 

To make matters worse , the internet has taken that process and allowed the advertiser to make those very same decisions IN REAL-TIME, every single time for every single consumer as the letter is displayed on different platforms like web, cellphone, tablets and laptops or desktops. Television, Radio and Print will have a hard time attempting that feat of flexibility for at least another 5 to 10 years and might find that it takes 50-100 years for the singularity to embrace them as effortlessly as the smaller devices for individual broadcast and not the masses. 

ADVERTISING WORKFORCE

Now that you understand a bit more about the role of advertising and marketing in your business development strategy I want to give you a snapshot of the salaries that you will need to consider in your business or marketing plans in order to justify the investment in your desired business goals. Remember that the same research used to start your business can also be used to plot your next career move  with the full confidence that you are making the right choices.




STRATEGIC WORKFORCE

Code___Employment Category____# Workers ___Yearly____Hourly
11-2021 Marketing Managers            171,430            $129,870    $65
11-2020 Sales Managers                    516,170            $123,260    $62
11-2000 Advertising/Marketing/PR   598,110            $121,150    $61
11-2022 Sales Managers                    344,730             $119,980   $60
11-2031 Public Relations                   053,520             $108,260   $54
11-2011 Promotions Managers          028,420             $107,060   $54
13-1161 Market Research                  392,740             $067,380   $34
27-3031 Public Relations                   201,280              $061,980   $30
TACTICAL WORKFORCE
Code___Employment Category_____# Workers ___Yearly____Hourly
27-1011 Art Directors                        031,570              $094,260   $47
27-2012 Directors                              087,010              $092,390   $46
27-2010 Producers                             157,550               $084,520   $42
27-3021 News Analysts                     005,170               $078,450   $37
27-2011 Actors                                   070,540              $070,000   $35
27-1014 Multimedia Artists               029,270              $069,560   $34
27-3043 Writers and Authors             041,990              $068,420   $34
27-3040 Writers and Editors              187,190              $065,130   $33
27-4032 Film and Video Editors        021,500              $064,060   $32
27-3041 Editors                                  099,040              $062,440   $31
07-4030 Camera Operators                 037,910              $057,540   $28
27-1000 Art and Design Workers       499,620              $049,960   $25
27-1024 Graphic Designers                191,440              $048,730   $24
27-3020 Reporters                               050,740              $048,510   $24
27-3022 Correspondents                     045,570              $045,120   $22
227-3011 Announcers                         031,340              $041,860   $21
27-4021 Photographers                       056,140              $036,330   $18
Research conducted using the  Bureau of Labor Statistics at www.bls.gov and the 2010 US Census at  www.census.gov as well as Salary.com.
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AMIR14 : Advertising - Workforce ( W-8 of 52 )

ADVERTISING WORKFORCE

Now that you understand a bit more about the role of advertising and marketing in your business development strategy I want to give you a snapshot of the salaries that you will need to consider in your business or marketing plans in order to justify the investment in your desired business goals. Remember that the same research used to start your business can also be used to plot your next career move  with the full confidence that you are making the right choices.


STRATEGIC WORKFORCE

Code___Employment Category____# Workers ___Yearly____Hourly
11-2021 Marketing Managers            171,430            $129,870    $65
11-2020 Sales Managers                    516,170            $123,260    $62
11-2000 Advertising/Marketing/PR   598,110            $121,150    $61
11-2022 Sales Managers                    344,730             $119,980   $60
11-2031 Public Relations                   053,520             $108,260   $54
11-2011 Promotions Managers          028,420             $107,060   $54
13-1161 Market Research                  392,740             $067,380   $34
27-3031 Public Relations                   201,280              $061,980   $30
TACTICAL WORKFORCE
Code___Employment Category_____# Workers ___Yearly____Hourly
27-1011 Art Directors                        031,570              $094,260   $47
27-2012 Directors                              087,010              $092,390   $46
27-2010 Producers                             157,550               $084,520   $42
27-3021 News Analysts                     005,170               $078,450   $37
27-2011 Actors                                   070,540              $070,000   $35
27-1014 Multimedia Artists               029,270              $069,560   $34
27-3043 Writers and Authors             041,990              $068,420   $34
27-3040 Writers and Editors              187,190              $065,130   $33
27-4032 Film and Video Editors        021,500              $064,060   $32
27-3041 Editors                                  099,040              $062,440   $31
07-4030 Camera Operators                 037,910              $057,540   $28
27-1000 Art and Design Workers       499,620              $049,960   $25
27-1024 Graphic Designers                191,440              $048,730   $24
27-3020 Reporters                               050,740              $048,510   $24
27-3022 Correspondents                     045,570              $045,120   $22
227-3011 Announcers                         031,340              $041,860   $21
27-4021 Photographers                       056,140              $036,330   $18
Research conducted using the  Bureau of Labor Statistics at www.bls.gov and the 2010 US Census at  www.census.gov as well as Salary.com.
Posted by at

Monday, April 14, 2014

AMIR14 : Advertising - IN/OUT-Source ( W-7 of 52 )


IN-SOURCE / OUT-SOURCE

Should you relinquish such an important part of your sales growth to a perfect stranger or an imperfect friend? Certainly the resources necessary to run these campaigns can be more than you might expect and cost a lot more than you would be willing to invest. If only for that reason it might be justification enough but the reality is that even advertising and marketing agencies are having a tough time assimilating the necessary skills and technology needed to integrate digital marketing and traditional marketing into a cohesive line-up of products called Integrated Marketing. 

According to www.inc.com's top 5000 agencies report, IPG, Omnicom, Publicis, WPP, BBDO, Ogilvy, Leo Burnett are among the biggest agencies in the world. They are responsible for iconic campaigns like the Marlboro man for Phillip Morris. These ads made an indelible impression in our collective consciousness and for that the advertisers & agencies were nicely rewarded. But even these companies continue to merge for size and acquire new comers for scope to keep up with emerging technologies.  
The times have changed and we are no longer a nation of naive followers but rather a culture of individuals seeking personal expression and attention. Perhaps this is why most large enterprises are willing to manage a roster of 50 to 100 agencies as www.forbes.com reported instead of consolidating to one or two? I think that in this ever changing era where every 18 months there's a new and improved technological advance that revolutionizes and disrupts established transactional norms of conduct, you can not just pick one partner. Advertisers, like consumers need the flexibility of many options if only to keep the agencies as honest and efficient as possible, working hard to understand the "Next Big Thing" and how the advertiser can earn another customer in this faster than light economy.  

Advertising agencies have a hard time justifying that their advertising drives as many sales as expected. Direct Marketing agencies went further in setting up models to track their success but they both continue to have difficulties evolving to the urgency of now and the web of tomorrow.

For example take a simple paper sales sheet .
..
The paper, weight, color, brightness, texture, opacity must be chosen long before it is deployed. The ink might be PMS pantone, CMYK separated, soy based, metallic, varnished, UV coated, acquesed or silk-screened BUT can only be printed ONCE in 1 - 4 color, digital or webpress. The message can be indicative, imperative, receptive, persuasive or active, but not contextual in real-time and this is just for a single sales sheet. We are not even discussing the mailing list, mail/purge, address verification and USPS postage, sorting and mailing if you wish to send it out. 

To make matters worse , the internet has taken that process and allowed the advertiser to make those very same decisions IN REAL-TIME, every single time for every single consumer as the letter is displayed on different platforms like web, cellphone, tablets and laptops or desktops. Television, Radio and Print will have a hard time attempting that feat of flexibility for at least another 5 to 10 years and might find that it takes 50-100 years for the singularity to embrace them as effortlessly as the smaller devices for individual broadcast and not the masses. 

Posted by at

Friday, April 11, 2014

AMIR14 : Advertising - Partners ( W-6 of 52 )

ADVERTISING PARTNERS



A good marketer will wear many hats but a great marketer will bring many heads together including the Chief Executive Officer, The Chief Marketing and Chief Information Officers as well as the Chief Financial Officer to the round table for strategic and tactical agreements.  Perhaps your company is not that large and in fact you are one and the same as far as dealing with the operations , marketing, technology and accounting for your company. If that is the case these next few pages are really important for you.       

In fact, large companies utilize not only the human resources capabilities to expand exponentially and act quickly but also technologies like ERP enterprise resource planning software like People Soft or SAP, Lotus Notes, Siebel, Salesforce and many others depending on your industry. These tools have allowed small ideas to blossom quickly through what some have called the data store.

Much like the industrial revolution streamlined physical production of goods by centralizing the tools of production in the factory floor, the digital revolution and the web have aggregated their intellectual service tools on the cloud and now most companies are protected from expensive internal solutions that require challenging API integrations. These are now simply provided with turnkey solutions that increase productivity and decrease your operational costs by scaling at will.

Now, traditional marketing programs can be handled in house either by one marketer or a small department but depending on the number of projects, the frequency and the complexity you may decide to invest in your own marketing department or outsource to one of the 13,000 advertising / marketing agencies available. Consider that the cost of a seasoned national marketer can run in the median range of $80,000 dollars a year or roughly $40 and hour so it may be prudent to test your metal by outsourcing to an agency of record and opting to pay the retainer fees and advertising costs instead of a full salary to employees.      
 
With the explosion of marketing software and the internet you may be able to sample some freelance work or perhaps contract help on a flat per project fee basis. Further more there are many marketing consultants that prefer a flat fee plus a percentage of growth or business generated through the campaign especially if your project is digital in nature. Remember that local and regional projects will always be a good place to start before you expand into more advanced national and international markets.         

Last but not least, consider the co-op, referral or affiliate advertising and marketing models where you reach out to complementary companies and work together to recruit your best customers as champions of your product with loyalty rewards. This was known as revenue sharing in the old days and today it is more commonly known as affiliate programs.     

Should you decide to outsource this aspect of your  business please consider that the marketer will want your business development staff to have a product catalog that is priced competitively and ready for consumption with a pricing model of Cost+ IMU Markup, Premium Pricing, Bulk Discount, Wholesale tiers or One Off / Lost leaders. This will accelerate your time to market. 
Posted by at

Wednesday, April 2, 2014

AMIR14 : Advertising ( W-5 of 52 )

TRADITIONAL ADVERTISING

According to a recent IBIS world report there are close to 13,000 advertising and marketing companies employing almost 170,000 marketing professionals while the Bureau of Labor Statistics reports more than 2,600,000 supporting workers for the advertising, marketing and promotion industries. These include sales managers, producers, animators, art director, actors, editors writers and graphic designers along with many other professionals that have direct input in the creation, management and monitoring of ads for Print, Radio, Film, Broadcast TV, Cable and the internet.

A good advertising campaign can help larger companies that can afford to budget for expensive production and extensive coverage to launch, grow and innovate as they cycle, mature and decline. They can purchase multiple branding channels of communication and saturate a market so a consumers mind is filled with their message. Pervasiveness of brand at the consumers point of sale will reinforce and stimulate the IMPULSE BUY from need to WANT which account for  2/3 of all purchases made at malls and in general throughout the economy as a whole. 

Today's agencies know this and charge a standard 15% commission on their media buys while accounting for 2%-3% of the 17 trillion in US GDP.  Their advertising effectiveness depreciates by 30% within a short 12 month cycle. The 300-500 billion in advertising spending is split  60% nationally and 40%  on local markets among the various mediums roughly as follows : 23% on print advertising and direct marketing although the general consumer is only engaged in that activity 6% of the time, 42% on TV as it should be considering that the average American spends 44% of their free time watching the tube, 22% on web advertising reflecting the average American who spends 26% of their free time surfing and 10% of the ads go to radio which takes up 14% of consumers discretionary free time. Last but not least 2% of the money goes to mobile which is expected to grow from its current 12% of our free time to more than 50% due to smartphones and broadband ubiquity.  By the way, mobile advertising is expected to grow by 2015 to almost 400 billion usd in ad spends and  account for more than 10% of all retail sales.    


So how do companies  and advertising agencies decide where to spend 1/4 trillion dollars?


They segment the 314 million US population into geographic, demographic, psychographic and psynographic categories. Conduct market and marketing research in order to determine message, tone, voice, reach, frequency and  distribution variables for their ad campaigns and media buys.

GEOGRAPHIC fields are generally standard labels like country, state, city, zipcode, area code but things get a bit more sensitive when talking about demographic data.

DEMOGRAPHIC data like gender as in male, female, gay, lesbian bi-sexual, trans-gender or religion, ethnicity, language, education, income, and family size.  Age is one of those values that we are all accustomed to. ( 13-17, 18-24, 25-34, 35-44, 45-54 , 55-64, 65-74, 75+ ).

PSYCHOGRAPHIC and PSYNOGRAPHIC attributes are given to lifestyle purchasing options like attitudes, beliefs, values and social versus self image as it relates to purchasing decisions like "Keeping up with the Jones" and  the psychology of impulse  buying. 
 
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