Navigating the New Era of B2B Sales
Change is the one universal constant most challenging for humans. Our adaptability, however, allows us to change, although many resist. Typically, those who adjust to change in their personal and professional lives are more successful. Until recently, B2B sales seemed to be locked into a decades-old, legacy process. Many companies and sales teams have yet to embrace fully the new era of B2B sales, but they are courting disaster if they don’t do so quickly.
Audio: The Constant Companion
Video content, however it is consumed, often steals the media spotlight, touting the popularity of streaming services, watching on multiple devices and focusing on the turmoil of video viewership as it moves from legacy to Connected TV. As much as we enjoy viewing video content on mobile devices, there are limits as to where we can watch. Listening to audio content is truly a ubiquitous experience, anywhere, any time, and via multiple devices as well.
The Persistent Strength of Linear TV
Some may dismiss the notion that linear TV has any remaining “strengths.” Despite the onslaught of streaming services and video platforms, linear TV continues to attract a substantial audience and provides advertisers with a level of reach only radio can rival. Undoubtedly, the television experience, for both viewers and advertisers, is evolving and expanding, but linear TV is still an essential and unique component of that experience. It delivers coveted audiences that newer platforms can only offer in limited numbers.
In Celebration of Rural America
America remains a rural country, geographically, as almost three-quarters (72%) of the nation’s total land area is rural counties, 14% of the US population live there and approximately half of the land area is used for agricultural production. Buying food or other consumer products that originate in agriculture is the only interaction most Americans have with rural communities – and very indirectly – or when driving by or flying over farmland.
The Unstoppable Consumer
Whatever the world throws at US consumers – inflation, limited inventory, higher prices and interest rates, recessions and even drastic weather and a pandemic – they are unstoppable. Since they are responsible for approximately 70% of total GDP, they better not stop. Although current economic conditions may cause many Americans to pause or re-prioritize their spending, total seasonally adjusted retail and food services sales during March 2023 was $6.92 trillion – and only exceeded by January’s and February’s total.
The Media Juggling Act
Watching a professional juggling act can be very entertaining, even mesmerizing, especially those juggling odd or extreme objects, such as torches, bowling balls and chainsaws. As media sales reps and local advertisers are required to juggle ever more media, juggling the wrong ones can lead to mistargeted ad dollars, loss of customers and general confusion as to the best media to juggle.
Convenience Stores 2023: The Evolution Continues
Convenience stores, like most other businesses and retailers, have remained committed to serving their customers better, even as they’ve had to adjust to the pandemic, supply-chain and labor challenges and inflation, driving many to reinvent themselves. Changing consumer spending habits have provided C-stores with many opportunities to become something more than a grab-and-go foodservice location. They are also proactively embracing and adding new retail technologies to improve service while reducing costs.
In-Store and Online: Retail’s Perfect Partners
With the coming of the digital age, consumers were wary of shopping online. In retrospect, the transition was relatively quick, given that people are conducting most of the buying process of their biggest purchases online: vehicles, homes, appliances, jewelry, etc. When it was almost impossible to shop in stores during 2020, e-commerce was a welcome alternative. According to US Department of Commerce data, online sales increased 53.4% during Q2 2020 and maintained that extreme growth through Q1 2021 at 46.9%.
The Age of Digital Currency
The perception of many people of the digital age is that we’re being propelled through rapid changes at an unprecedented pace. Many of the innovations of the digital age, from smartphones to electric vehicles to robotics, have replaced older technologies or introduced new ones. Money, one of the basic components of commerce for approximately 5,000 years, is being similarly transformed into a digital form. It’s a historical moment with major implications for every human, every business and every government.
Retail’s Remarkable Resilience
The pandemic’s devastating effect on retail motivated many local retailers to change their business models significantly. In the process, many discovered new methods to engage and attract new customers and created businesses better prepared for future crises. Despite many consumers eagerly returning to in-store shopping, retailers face a new set of challenges. Supply-chain issues and a lack of sufficient inventory have created a frustrating situation for retailers since they can’t serve consumer demand.
Consumers and the Post-Pandemic World
Despite the lingering impact of the COVID-19 virus, a substantial increase in inflation and the war in Ukraine and other world and national events, American consumers plow ahead, continuing their decades-long role as the drivers of the US economy. Although negative news often receives almost all the headlines, it’s important to emphasize the March 2022 unemployment rate was 3.6%, the lowest since February 2020, and March 2022 retail sales increased 8.4% YOY and 18% from March 2020.
The Many Advantages of Ad Media Collaboration
As the media world and brands and retailers rsquo; ad spending becomes ever-more complex, competition is fierce, but more collaboration is required so everyone in that competitive arena can succeed. The expansion of media channels to engage with consumers more effectively and efficiently has diluted audiences on some of those channels, but agencies and advertisers have more pathways to reach targeted consumers, which is a positive trend.
Convenience Stores 2022: A Smoother Road Ahead
Convenience stores did their best to remain convenient to customers during the pandemic; however, the abrupt change to many people’s work schedules and their reluctance to shop inside stores disrupted the entire convenience store model. With fewer people working and remaining at home, the demand for motor fuel declined significantly. Similar to many other local businesses, convenience stores have continued to face labor challenges and supply-chain issues.
Television’s Exciting Journey into the Future
Since its inception, television’s journey across the media landscape has been steady and relatively smooth. More recently, however, the media landscape has changed and television has had to adjust its course. That journey into the future will be an exciting ride because of the many new opportunities the changes in viewing habits, advertisers’ needs and technology will create for content creators and ad sales teams.
Health & Wellness: Fit and Trim and Energized for Growth
Once upon a time, there was “health,” well understood by most Americans. “Wellness,” however, was a somewhat vague term not fully understood and seemed to be limited to health spas and retreats and various New Age philosophies and questionable treatments. The pandemic has changed that relationship, elevating wellness on par with health and creating an equal partnership in the minds of millions more Americans and people across the globe. Make no mistake, health wellness is a global trend, almost a phenomenon.