Author: Media Partners Worldwide
Q&A with MPW CEO Natalie Hale
Media Partners Worldwide, a women-owned business, was founded in 1997, by Natalie Hale and a small team of radio veterans working out of a garage. In honor of the 20th anniversary of Media Partners Worldwide, we asked Natalie to answer a few questions about entrepreneurship and starting a successful business on her own.
1. What three pieces of advice would you give to those who want to become entrepreneurs?
Don’t give up on having a family or put it aside too long. You can still have children and run a company. It just takes coordination with your partner. Sacrifices will be made, but it is worth having the fulfillment of a family and having your own business. One of my biggest regrets is putting a family on hold and thinking that it was selfish or impossible to do both. Through the years, I have met many successful female entrepreneurs that manage to do both and make it work! Don’t think that you have to have a lot of capital to get started. I started with some money in the bank, however, I really didn’t need it and was, fortunately, able to have immediate cash flow. You just have to think smaller at first and know that if you don’t have capital you can still have your own business. Although it will grow more slowly and not have all the bells and whistles at first, you can still succeed. Get a support group to help you. Without my ex-husband who was a mentor to me in business, I would not have been brave enough to move forward. After being in business for a few years, I got involved with some different CEO groups that helped me with different ideas and problems. These groups were invaluable and helped me so much with all the different decisions. From employee legal decisions, motivating and keeping employees, balancing and figuring out my profit and loss, to dealing with the everyday emotional struggles that can come up day to day, I learned so much from my CEO groups. I recommend that all entrepreneurs try to join a good group asap. It will help you make fewer mistakes, feel more confident and grow your business quicker with this invaluable support group.2. What inspired you to start a new business venture? How did the idea for your business come about?
After working for CBS for almost 10 years, I was getting burnt out with the corporate stress and changes. I decided to take a break and do my own thing temporarily, while I figured out what I wanted to do. A client asked me to develop and place a NATIONAL radio campaign with 20k per week budget. Luckily, it successfully took off and that was the beginning of my business. I never worried about looking for a job again. I remember I agonized about the name of the company. I wanted it to sound bigger than life!3. What sacrifices have you had to make to be a successful entrepreneur?
I sacrificed not having a child of my own for a long time. I was terrified that if I had a baby, everything would fall apart and that I would not be able to manage my business. It was when I was 40, that I finally accepted that with the help of my partner, I could really do both.4. If you had the chance to start your career over again, what would you do differently?
Probably would have done more traveling when I was younger, and more networking in college. Many of my old college associates became entrepreneurs and I wish I would have kept better in touch with them, as there might have been more synergy and support to work together, Also, I do wish I would have gone to school and earned my MBA right after earning my BA. Running my company for 20 years, I feel like I have been through a rigorous MBA program now, but it would have been helpful and given me more confidence to grow the business bigger and more quickly if I had that structured information sooner.]]>Q&A with MPW CEO Natalie Hale
Media Partners Worldwide, a women-owned business, was founded in 1997, by Natalie Hale and a small team of radio veterans working out of a garage. In honor of the 20th anniversary of Media Partners Worldwide, we asked Natalie to answer a few questions about entrepreneurship and starting a successful business on her own.
1. What three pieces of advice would you give to those who want to become entrepreneurs?
Don’t give up on having a family or put it aside too long. You can still have children and run a company. It just takes coordination with your partner. Sacrifices will be made, but it is worth having the fulfillment of a family and having your own business. One of my biggest regrets is putting a family on hold and thinking that it was selfish or impossible to do both. Through the years, I have met many successful female entrepreneurs that manage to do both and make it work! Don’t think that you have to have a lot of capital to get started. I started with some money in the bank, however, I really didn’t need it and was, fortunately, able to have immediate cash flow. You just have to think smaller at first and know that if you don’t have capital you can still have your own business. Although it will grow more slowly and not have all the bells and whistles at first, you can still succeed. Get a support group to help you. Without my ex-husband who was a mentor to me in business, I would not have been brave enough to move forward. After being in business for a few years, I got involved with some different CEO groups that helped me with different ideas and problems. These groups were invaluable and helped me so much with all the different decisions. From employee legal decisions, motivating and keeping employees, balancing and figuring out my profit and loss, to dealing with the everyday emotional struggles that can come up day to day, I learned so much from my CEO groups. I recommend that all entrepreneurs try to join a good group asap. It will help you make fewer mistakes, feel more confident and grow your business quicker with this invaluable support group.2. What inspired you to start a new business venture? How did the idea for your business come about?
After working for CBS for almost 10 years, I was getting burnt out with the corporate stress and changes. I decided to take a break and do my own thing temporarily, while I figured out what I wanted to do. A client asked me to develop and place a NATIONAL radio campaign with 20k per week budget. Luckily, it successfully took off and that was the beginning of my business. I never worried about looking for a job again. I remember I agonized about the name of the company. I wanted it to sound bigger than life!3. What sacrifices have you had to make to be a successful entrepreneur?
I sacrificed not having a child of my own for a long time. I was terrified that if I had a baby, everything would fall apart and that I would not be able to manage my business. It was when I was 40, that I finally accepted that with the help of my partner, I could really do both.4. If you had the chance to start your career over again, what would you do differently?
Probably would have done more traveling when I was younger, and more networking in college. Many of my old college associates became entrepreneurs and I wish I would have kept better in touch with them, as there might have been more synergy and support to work together, Also, I do wish I would have gone to school and earned my MBA right after earning my BA. Running my company for 20 years, I feel like I have been through a rigorous MBA program now, but it would have been helpful and given me more confidence to grow the business bigger and more quickly if I had that structured information sooner.]]>6 Traits of Successful Entrepreneurs
While we are not all born geniuses or extroverts or overachievers, that does not mean we are doomed to mediocrity. Some of the most famous of entrepreneurs, like Bill Gates, didn’t even make it through college. So while there is no foolproof guide to entrepreneurial greatness, here are six common personality traits that entrepreneurs possess.
1. Passion
First things first, entrepreneurs have a clear visual of what they want. Not just a fainted hearted wish, but an unshakable sense of purpose. They are driven by their heart, not by the chase for the dollar. No matter how bad it gets, it’s their passion that motivates them between ups and downs and all the times when everyone else tells them to quit. Envision your end goal, see yourself in the position you want to be and do it with passion.“Your work is to discover your work and then with all your heart to give yourself to it.” - Buddha
2. Self-Confidence
There are going to many, many moments in your journey where not a single person will believe in you or your mission. Therefore, you have to believe in yourself. Self-confidence is key if you want to achieve success. Entrepreneurs don’t think that their idea could be good. They know it’s good. While they also understand that they can’t do everything on their own, they realize that they are the only ones to make their idea a reality.“It is only necessary to have courage, for strength without self-confidence is useless.” – Giacomo Casanova
3. Resilience
As an entrepreneur, there are going to be many failures. That is inevitable. While most people give up, an entrepreneur has the extraordinary ability to bounce back. Instead of giving up, an entrepreneur will learn from their failures. They will as themselves what went wrong, or how can they learn from their mistakes. If you understand that failure is part of being an entrepreneur, you will take those failures and use them as learning experiences. Entrepreneurs don’t stay down for long. They’re resilient and thrive off the chance to do better.“Success is the ability to go from one failure to another with no loss of enthusiasm.” – Winston Churchill
4. An Appetite for Knowledge
In the world of business, there will always be competition. Entrepreneurs know they need to say ahead and constantly be learning about what is new in their field. You will always have competitors breathing down your neck trying to surpass you. There will always be someone claiming to be the next greatest thing. Staying up to date and sharp, through constant learning, enable them to stay ahead and avoid getting passed. Do everything you can to keep learning and absorb new information, whether it be getting up early to read industry news or making a point to read in your spare time. Remember, knowledge is power!“Education is not preparation for life; education is life itself”. -John Dewy
5. Vision
In a way, entrepreneurs can see the future before it happens. They have the vision, clear as day, in their mind. They see opportunity everywhere and are constantly on the look out to develop or improve new or existing ideas. This is what makes them leaders of their industry. Chances are they started their business because they noticed something that could be better and formed their ideas into action. Have a clear image of what you want to achieve and make it happen.“In order to carry a positive action, we must develop here a positive vision.” -Dalai Lama
6. Adaptability/Flexibility
There are surprises at every corner in business, and in everyday life. Even with a well-thought out plan or strategy, things don’t always go according to plan. Entrepreneurs are adaptable, giving them the ability to respond quickly in any situation. This allows them to make decisions that can navigate them out of potential trouble. Having this level of flexibility is crucial for any business. In fact, most entrepreneurs will tell you that their idea or business plan is drastically different than when it began. Sometimes the reality of a great idea isn’t effective. Entrepreneurs are flexible enough to understand this. They are prepared to make changes to their plan when necessary.“You must always be able to predict what’s next and then have the flexibility to evolve.” – Marc Benioff
]]>Tips for Marketing to the Millennial Generation
Therefore, every marketer should be making this generation a priority. As a millennial myself, born in 1990, I can attest to understanding our habits, likes, and dislikes. We may be particular and at time unconventional but we are still loyal to brands we love. According to a Forbes.com and Elite Daily (the voice of Generation Y) collective study, “millennials are highly educated, career-driven, politically progressive and–despite popular belief–do indeed develop strong brand loyalty when presented with quality products and actively engaged by brands.” With millennials as a driving force in the marketing place, here are a few key tactics geared towards engaging with this super power generation.
1. Authenticity is Essential
According to AdAge, “Millennials are spending an average of 25 hours per week online – and they’re craving content-driven media.” Between searching blogs, websites, YouTube channels and other social media platforms, we are also sharing, liking, tweeting, snapping, forwarding, pinning and commenting our findings, resulting in a huge online community. The content that strongly resounds with millennials is based on what we see value in and trust. Millennials connect best with people over logos. For example, blogs. 33% of millennials rely on blogs before they make a purchase, compared to the fewer than 3% who use TV news, magazines, and books. While the older generations rely on traditional media, millennials look to social media for an authentic look at what’s going on in the world, especially content written by their peers. Despite the fact that blogs are usually run by an individual rather than corporations, millennials trust the blogger’s opinions. We use bloggers as a kind of adviser to help us make a purchasing decision. Same with social media platforms like YouTube. I know for myself if I am interested in buying any new product or experimenting with a new brand, I first seek out reviews on YouTube. I have access to these reviews anywhere I go on my smartphone and I like the casualness of hearing someone speak candidly about something they do or do not like. Just like you would seek advice from a friend or family member, I can do that with strangers who share my interests on my social networks. 84 percent of Millennials say user-generated content has at least some influence on what they buy, and 73 percent say it’s important to read others’ opinions before purchasing. Advertisers, therefore, need to find a way to incorporate this information into their campaigns. For brands that want to successfully reach Gen Y-ers, they need to speak our language. Meaning, they need to create content that we will proudly share, like, pin, tweet, snap, and forward to others. That way the can build a real, authentic brand-customer relationship.2. We Want an Experience
We millennials prefer experiences over possessions. We are more interested in brands that can show us how to improve our lives, rather than brands that are pushy with selling to us. In an age of growing minimalist and the environmentally conscience, this is particularly important. To us, possessions come and go, but experiences can resonate forever. Advertisers need to ask themselves how their brand can contribute to an overall experience for millennials. This is where inbound marketing strategies come into play. Millennials want e-books, blog posts, videos, and other how-to information. This is your company’s chance to provide content that ranks high in Google and shows us you know what you are talking about. Millennials are 44% more likely to trust experts. But they are 247% more likely to be influenced by blogs or social networking sites. Home Depot is an example of a company who is currently killing it with this marketing strategy. Here is their YouTube channel. As you can see, there are a number of how-to videos and home improvement DIYs. Not only can you buy all that you need at Home Depot, but you can learn how to install, build and be inspired all the while they are marketing themselves. Their brand and videos will continuously pop up in web searches. With over 100,000 subscribers, Home Depot’s YouTube channel is clearly ranking on Google searches with inquiries about home and garden projects. By utilizing millennials favorite social media platforms, you can create shareable content and keep up your authenticity and trust.3. Stay Relevant
Trends come and go. We all know that. However, staying on top of what is trending can help your brand, significantly, especially with hashtags and ranking in Google. Another great brand that is reaching out perfectly to Millennials is Netflix. “While Netflix has a lot of different customers spanning different generations, Millennials are vital to this company. One way that Netflix reaches out to this generation is by having great social media campaigns and linking up Netflix accounts with Facebook. Netflix is constantly on the watch when it comes to this generation because they want to make sure they keep reaching out perfectly. Studies show 75% of millennials with connected televisions are using them to watch Netflix.” Here is an example of on of their past advertisements. They took a popular hashtag about their company, used for more comedic purposes and meme creation, to target their younger generation audience. Now they are part of the trending conversation and staying relevant.4. Collaboration
Along with wanting an experience, millennials are interested in having a say. In fact, 42 percent said they are interested in helping companies develop future products and services. They want to be more involved with how products get created. According to aforementioned Forbes.com and Elite Daily (the voice of Generation Y) collective study, “companies that enable them to be part of the product development process will be more successful. Marketers need to focus on building relationships with consumers by fueling their self-expression and helping them establish their own personal brand.” Here is an example provided by Hub Spot writer Meaghan Moras: “Coca-Cola used online co-creation to gather expressions of its brand promise “Energizing refreshment.” They prompted their audience to unleash their creativity by interpreting Coca-Cola as an energizing refreshment in whatever style or format they wished. Coca-Cola gathered these videos, animations, illustrations, and photographs to use in its marketing campaigns worldwide. This method was mutually beneficially in that Millennials all over the world got to pour a bit of themselves into a product made for them while helping Coca-Cola bring fresh authenticity to the market.”5. Communication and Connection
Staying engaged with the millennial generation is very important. This includes commenting on social media posts, posting consistently, and giving us the impression that each customer is important. A great example of how to do this is through giveaways, special discounts, contests, and loyalty programs. A platform we haven’t discussed much yet is Instagram. According to the Huffington Post, “The visual platform has been rapidly growing and now boasts 300 million monthly active users, with 41% being aged 16-24 and at 35% are in their 24-34s.” These numbers show that your brand needs to be engaging with us through this app. The most successful of brands that use Instagram feature photos regularly (have I mentioned how important consistency is?)and dedicate hashtags. They post pictures on their page that their followers have tagged them in. They invite popular Instagrammers to take over their page to keep their brand fresh and new. We millennials are definitely flattered when a brand we love acknowledges us. I know for myself, I have tagged brands in some of my personal Instagram posts and even a “like” back makes me feel special. Finding ways to boost engagement will do nothing but improve your chances as being noticed by the trendsetting generation.Wrap Up
Find the authenticity of your brand and run with it. Stop screaming “buy!” and start yelling” We have an experience for you!” Stay up to date on trends and use them to your advantage. Get us involved in your products. Consistency. Engagement. Connection.]]>Why Advertising Is Important To Your Business
While it’s true that ad agencies are an investment, you and your business could save considerable money by working with an agency who will likely have close ties to media channels, providing cheaper rates than an individual trying to work with them on their own. Media Partners Worldwide, for example, specializes in remnant radio which is advertising space that has gone unsold and as such is made available to us at a steep discount off of their normal rate cards close to airtime. This is due to our relationships with various broadcast partners. Agencies, like us, with a firm grasp on marketing, can keep costs down by running your ads at best times to provide an effective advertising campaign. Since your brand is everything to you, as a business owner, developing and protecting your content can be complicated. Ad agencies understand this and know how to create brand awareness while offering you research to determine your most effective market. This is especially great for small business who may not have the time or manpower to do this themselves. To learn more about advertising, specifically remnant, and what we, at Media Partners Worldwide offer, check out our website at www.mediapartnersworldwide.comm or give us a call at (562) 439- 3900 ]]>
Mobile Marketing Media: Changing Radio Effectiveness?
As effective as radio is, there are still some obstacles in regards to consumer response. In some cases, when hearing an advertisement, potential customers can’t write down the number or remember it later. Texting laws are also limiting customer’s abilities to type on their phones while driving.
#250, a mobile speed dialing service, is providing an easier response method that is hoping to capture more leads for your advertisement. According to their website, “#250 (pound two-fifty) is a speed dial that works right now on virtually all mobile phones in the US and Canada. Advertisers use it as a replacement for long phone numbers that consumers cannot remember when heard in Radio or TV ads.”
This form of mobile media marketing is extremely effective, as it requires simply remembering a keyword, instead of a whole slew of numbers. By punching in just 4 digits (#250) and stating the keyword mentioned in the advertisement, consumers will be directed right to the business’ call center, website or retail page. It is also Bluetooth friendly, so you can say the keyword and are connected immediately. Hands free, being the safest driving option, is a huge part of #250’s campaign.
So far, the response has been excellent.
KC Campbell, Western Region Affiliate, said that “clients in LA have seen as much as an 86% increase in their calls in the first month.” Some companies have had to staff up to handle the call volume.
Businesses can choose their own keywords as well. This factor is “unique to each individual client,” said Campbell. So instead of hearing an ad on TV or radio that prompts you to call “1-800-GET-THIN,” customers simply dial #250 and say the keyword “Get Thin.”
And as far as performance tracking, they have that covered too.
“We can see we got “x” amount of calls and there is empirical proof of it because we have the numbers and times that these calls went through.” This allows data to be very specific, as you can see the duration of the call or if a text message was accepted.
Mobile marketing media, like #250, has a great possibility of making radio work more efficiently. With more response options and an easier method of remembering your product, consumers will most likely be responding faster and in greater volumes.
That is the main goal, anyway.
5 Tips for Advertising on Local Radio
However, there are still millions of people out there who find this free resource invaluable. Don’t overlook these consumers, as radio is affordable and working for many agencies. Here is a little cheat sheet on how to successfully advertise your business or product via radio.
- Find High Frequency Ads
Writing Radio Ads that Work
Because the power of radio relies so heavily on the quality of the copy, it is in your best interest to find a writer who recognizes this medium and understands how to target your specific audience. Here are some tips for writing ads that will work and generate sales. 1. When Hiring a Writer The best writers are those with broadcast experience. Radio relies on skill and salesmanship so you need someone who has an understanding of direct response marketing. You also need to be willing to spend some money, as good writers aren’t cheap. When hiring a writer, remember to let them write. Good writers will listen to you, but they will also do what is necessary to create the best ad to sell your product. Don’t get in their way and take over the project. Let them do what you hired them for. 2. Timing Most radio spots are broken up into 30 second or 60 second segments. 60 seconds gives you twice the amount of time to get listeners attention. 30 seconds are usually good for well known products or a simply offer. We typically advocate for a 60 second commercial, as you need to mention the phone number or call to action, such as go to your website, at least three times. A 30 second advertisement is usually too short to include everything you need. 3. Call Now! Since the main focus of direct response advertisement is to make the phone ring with inquiries, everything in the spot should prompt the listener to pick up the phone and call. Offer free consultations, free information or limited time offers to instill a sense of urgency in the customer. You want them to ACT NOW. 4. Selling Comes First When you only have 60 seconds to work with, every single second counts. Get the listeners attention, make an offer and generate a response. That is your objective. A good way to test if your ad is concise enough, remove the product from the copy. If you still have a complete concept, then your ad isn’t selling. The product, website, offer, phone number or selling idea should make up the entire spot. 5. Know Your Audience This is key in any form of advertising. With radio, you have two options: Talk Radio and Music Radio. With Talk Radio, your audience is ready to listen. Catching the listeners attention or blending into the surrounding talk are two ways to infiltrate talk radio. You want to encourage further listening. With music radio, your ad will be an interruption. Your spot must peak the listeners interest before they can change the station. 6. Choose a Creative Format There isn’t a set way to write a radio ad, however, here are a few creative formats that have been proven to work and get your listeners calling. Straight Announcer- With a clear, straightforward copy and a strong, direct voice, nothing could be simpler for your ad. The announcer should speak as if addressing one single person. Asking questions such as “Have you ever…?” or “Wouldn’t you like…?” helps create a personal connection with the listener and makes the ad feel less like a lecture. With the right voice, this effortless approach can pull listeners in quickly. Dialog – A typical example of this type of format, involves two people conversing with one another. One person is excited about a product or service and wants to share this information with the other person, who knows nothing about it. That person asks questions, while the other relays the information, thus divulging your product or services main information. If you have voices that match your demographic, speaking in a believable way, then this ad will come across as a testimony or referral, which is great for business. Person on the Street– Asking real people what they think of your product is a great attention grabber. Get the person you are talking to on the street to describe how the product worked in their own words, or how it benefited them. Ask if they would recommended this product to others. Listeners will hear real people giving their true opinions and this will act as a testimony to your product. You can take this one step further by having the person on the street address the audience directly. Add in a celebrity endorsement or an experts opinion works great as well. Vignette– This creative format, starts off with a short life scene exhibiting a problem. Then it cuts to the announcer who will describe your product as the solution. Time permitting, the life scene will continue, this time to show how your product has made their life easier. Make sure to return to the announcer to end the spot with a call to action and your 800 number. 7. Establish name identification early and often Give the name of your company, service or product early in the spot. Since you only have 60 seconds, you want to establish everything your listener needs to know about your business as quickly and efficiently as possible. Repeat this information at least three times throughout the ad. 8. Use a memorable or relevant 800 number Most radio isn’t interactive, like podcasts and apps like Pandora where you can click to call or purchase right from your phone. Most listeners are in the car or at work when they hear your ad. Therefore, they need to be able to remember your phone number if a phone isn’t within their reach. A special 800 number relevant to your product, is very helpful. 9. Call to Action Answer the question that listeners might have: “What do you want me to do right now?” Of course, you want them to call! Don’t be subtle about it either. For example, the announcer could say, “For a free brochure on how to get rid of extra weight fast, call 1-800-LOSE-FAT.” 10. Limited Time Offers People respond well to limited time offers. It provokes a sense of urgency and urges a call to action. People don’t like to miss out on good deals. Establishing a deadline forces an immediate response. I hope you found these tips for writing radio advertisements helpful! For more information, call us at 800-579-3031.]]>
Programmatic Television
By David Alpern Media Partners Worldwide is attending the ERA (Electronic Retailers Association) conference this month (September 13-15, 2016) in Las Vegas and one of the buzz words at the show is sure to be programmatic TV. Programmatic TV is gaining ground as data and automation advertising technologies advance. Programmatic TV provides the ability to finally be able to use television advertising to target specific audiences in a manner similar to digital programmatic advertising. What this essentially means is that TV media buying will ultimately move away from spots sold on a gross rating point (GRP) basis to an environment where ads seek targeted impressions bought on a CPM basis. Similar to digital today, TV advertising won’t be identical from screen to screen, but will vary based on hundreds of granular household or viewer data attributes. Challenges still exist on the journey to programmatic TV including the pace of household technology adoption. Devices such as over-the-top (OTT) and connected TV lend themselves quite well to the new programmatic ecosystem. Programmatic TV buying is far ahead on platforms like Roku and Hulu than can be found on national and local cable networks. Other challenges include measurement as both Nielsen and comScore are talking about implementing measurement capabilities but are not entirely there, yet. So, make sure to become familiar with programmatic TV advertising. It’s the wave of the future in advertising.]]>