Agency

I want to share some information for agency owners and new business leaders this week. I’ve written previously about how meet your annual sales goals, but I want to share it in a format that makes it easy for you to apply to what you are doing right now. This is the basic math of agency new business. You should be able to put it into practice immediately to help you reach your year-end targets.  by Mark Duval – The Duval Partnership

The United States has spent the past century expanding its economic power, and it shows in American families’ wealth. Despite income stagnation outside the circle of high earners, median family wealth grew from $83,000 in 1992 to $97,000 in 2016 (in 2016 dollars).

We’ve heard it before: Don’t treat your agencies as mere vendors, unless, of course, a commodity is what you are seeking. But the label “vendors” shouldn’t be such a dirty word. In principle, “vendors” are delivering services that have reasonable commercial value and getting paid for them. The real issue is in such a competitive environment, relying on a “vendor” or transactional type of relationship to fuel your growth won’t cut it anymore.

Want to trigger impostor syndrome? Try this: Imagine being invited to a blind wine tasting. With a bunch of French wine buffs. You’ll have to guess each wine’s region and year and defend your position in an in-depth discussion. Sweaty palms yet?.  by Maren Seitz – Director, Global Connect Center – Kantar

Nearly a third of U.S. adults (31%) follow local news very closely, but local news does not play an equally vital role for all Americans. Older Americans, black adults and those with a high school education or less show considerably more interest in local news than their counterparts, according to a new analysis from Pew Research Center. These same groups prefer getting their local news via the TV rather than online.

NBCUniversal Telemundo Enterprises announced it acquired the internationally-renowned production boutique Underground Producciones based in Argentina.  The new wholly-owned subsidiary will become an extension of the successful Telemundo Global Studios designed to super charge its growth and premium content production capabilities for prime time and digital platforms.

It’s increasingly clear that societal fragmentation is at least partly driven by fragmentation in personal identity. The acceleration of lifestage fluidity, the rising multiracial population, the expanding gender spectrum, and a plethora of other identity markers intersect uniquely for everyone. The emergence of microculturalism is a major test for businesses seeking to understand, reach, and accurately depict consumers.

As the just-released “Retail Renaissance – A Growth Story” report from IHL Group points out, retail stores are definitely not going away. According to the report, for each company closing stores, 5.2 are opening stores. For every segment of retail, there are more companies opening stores than closing stores. Even the much-maligned department store category has more brands opening stores than closing them.

Nielsen launched Continuous Diary Measurement (CDM) with the first data delivery in five of the 46 markets converting to monthly reports effective with the July 2019 survey.

Despite losing subscribers for the first time in the past eight years, Netflix is still the preferred method used for watching TV programs among U.S. consumers, followed closely by YouTube. Preferred by 61% of consumers for the past two years, the streaming giant’s dominance hasn’t been marked so much by growth as it has been by the drastic decline of Live TV across 2017, 2018, and 2019. In a matter of 3 years, linear television went from 68% in viewership down to 36%.

CBS and Viacom, two of the world’s leading entertainment companies, announced they have entered into a definitive agreement to combine in an all-stock merger, creating a combined company with more than $28 billion in revenue.

In the U.S. today, Latinx consumers are melding the physical and digital worlds to create personalized, culturally relevant shopping experiences on their own terms. These consumers’ paths-to-purchase, or consumer journeys, are social and circular. Purchase decisions can be frequently traced to the recommendation of a friend, family member or consumer review website. And, because Latinx consumers are so digitally connected—97% of Latinx households own a smartphone, and Latinx consumers spend over 27 weekly hours using apps and the web on smartphones—the consumer journey plays out in real-time. Brands that are not attuned to Latinx values and habits stand to miss out on this powerful market, which is reshaping the U.S. mainstream.

Univision Communications Inc and POPSUGAR announced the launch of “Juntos We Shine,” a new podcast that showcases the stories of remarkable men and women who are committed to making a difference in their communities. “Juntos We Shine” marks the first time that POPSUGAR has teamed up with the Spanish-language media company for a podcast.

By Gonzalo López Martí ? Creative director, etc. – LMMiami.com

• The brand of creativity we sell at Madison Avenue is increasingly stale, flat footed, devoid of reflexes.
• Clients are culprits of this reality too but, hey, a large chunk of our job description involves taking the fall for our clients’ mistakes.
• The proverbial scapegoat.
• We get paid for that too.

Multicultural consumers comprise almost 40 percent of the total U.S. population, yet multicultural media investments make up only 5.2 percent of total advertising and marketing spending, according to a new study.

Fuse Media unveiled findings of its new research study which shows that millennials – a group that many have considered to be “all about me” – is in fact the “We Generation.”

I often assert that everything a company does builds its brand – advertently or inadvertently. But it is all too easy to get fixated on one aspect of brand building, whether it is customer experience, creating buzz or price promotion. Real marketing effectiveness requires finding the right balance of investment across three stages of the buyer life cycle.  by Nigel Hollis

When I sit down with marketers who claim their multicultural marketing efforts didn’t work, I try to dissect the underlying reasons of this potential failure and curious enough, most marketers don’t even know these reasons themselves. In this article, I am focusing on my experience comparing what separates successful from unsuccessful multicultural marketing programs.  By Isaac Mizrahi – CCo-President of ALMA

Richards/Lerma announces it has been selected by Ocean Spray for the company’s launch into the Hispanic market.

The Puerto Rico Association of Advertising Agencies suspended the membership of KOI advertising agency due to its president’s participation in the controversial chat messages that have rocked the administration of Gov. Ricardo Rosselló Nevares.