Cashflow still the biggest risk to business but concerns around profitability continue to rise.
Insight
December 4, 2012
Media management
How can your business use advertising to get your brand noticed? We get the inside scoop on ways to make your business marketing savvy in our interview with Australia’s biggest ad buyer, Aegis Media’s Executive Chair, Harold Mitchell.
We’re helping Australian businesses find ways to grow their business, so we spoke to Aegis Media’s Harold Mitchell about how SMEs can use advertising to get their brand noticed.
How can you use advertising to get your brand noticed? Harold Mitchell, Executive Chair of Aegis Media, gives the inside scoop on ways to make your business marketing savvy.
Your top five media management tips for Australian business?
- In my world of media and advertising, every minute counts due to the fast-paced nature of our work, particularly within the growing digital media. My motto is ‘don’t waste a minute’.
- Don’t be foxed by any gloomy reports from politicians and the like that you may read in the papers; the economic climate of Australia right now affords many opportunities for those who choose to see them. We’ve detected a big increase in willingness to spend among people aged 30 to 44, but you have to market your product or service if you want people to buy it.
- Recognise and embrace the opportunities that change brings. The most important thing for brands and businesses to remember in this digital age is to respect the customer as you’ve never done before. Make a point of listening to them and engaging with them.
- Get really good people around you, even if they’re smarter than you. This applies to the people who advise you on media and marketing. The journey will be a lot easier surrounded by smart people.
- Make plans – short and long term. You won’t get where you want to be if you don’t know where you’re going.
What’s the most effective way of making a brand message stand out from the crowd? (Specifically for small to medium businesses, which aren’t as cashed up as established brand behemoths.)
Successful advertising is a combination of talent, luck and timing. Advertising and media is all about grabbing an audience and exciting and inspiring them with your product. The key is to capture what your customers really want to know, which is a real talent and certainly not always easy to do. A good idea and great campaign can save an advertiser a lot of money because people don’t have to see it very many times before being impressed.
Where do brands often go wrong when planning an advertising and marketing B2C (business to consumer) strategy?
Never undertake a marketing activity solely because it’s the latest trend. Social media might be a great means of communicating with your audience, but then again, it might not be. Research your audience before you plan your marketing and you’ll know that you’re reaching the right people at the right time.
Australia has the highest per capita advertising spend in the world. With that in mind, how can Aussie brands best maximise their advertising and marketing dollar?
Judging from the current business outlook locally, there’s every reason to believe that Australia’s world-leading position in the advertising industry will continue into the foreseeable future. There’s absolutely no doubt that digital technology has changed and is continuing to change the social and business fabric of the world. It transcends geographic boundaries and cultures, and of particular interest to us is the dramatic changes it’s making to the marketing of goods and services.
The winners in this world are those who recognise the signs, re-invent themselves and take advantage of the changed conditions. Welcome to the new world of communications, the world in which the consumer is king.
It’s up to you to think about this change in relation to your own business – to build marketing and communication strategies that respect this new dynamic and, more importantly, give you an advantage over your competitors.
Any pointers for brand messaging in today’s climate?
It’s imperative that business owners and entrepreneurs have an informed opinion about the future. Be prepared to adapt your business in response to the changing world around us.
Australia is in a great place and we should be very confident about our economy. There’s much to be done, and those who wish to be successful in the future need to read the signs, look ahead and plan to take advantage of the situation we’re in.
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