Why Aren’t Millennials Buying Stuff?

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As the Millennial generation is graduating from college and entering the workforce, finances and student debt are now a forefront issue for this age group. While the average student has $37,172 in student debt at graduation, saving every dollar is essential to financial freedom later down the road.

While many Millennials are quick to point at student debt to the sole contributor, there is also a lack of connection to consumers about their products. Millennials enjoy feeling connected and marketing firms are trying to figure out various routes to connect their consumers.

Here are some products that are lacking in the understanding and connection front.

Fabric Softener

While the title may seem self explanatory, many millennials have no idea what this product is supposed to do. If the purpose or value is not explained as clearly as possible, the potential for purchase is extremely low with this age group.

Also, brands such as Downy do not resonate with these consumers as they deliver no further value to their lives. Lastly, it is not a necessity in doing laundry, only an added bonus. With money being tight with this age group, they want to spend it only on necessities.

Golf

The sport of golf is extremely traditional, slower-paced and expensive. These three attributes do not align with this age group very effectively, resulting in a decline in revenue for some major golf brands. Also, the sport is extremely difficult to self-initiate. Many people were influenced into the sport by a family member or friend. Unless it is a group of friends hitting golf balls for an afternoon, this sport is lacking connection to the new age of adults.

With these products not aligning with the values of the new marketplace, Millennials will be quick to eliminate them because they’re unnecessary. Content marketing companies are constantly trying to figure out what these very complicated consumers are looking for in order to drive sales.

Many an advertising agency has zeroed in on what the consumer wants from major brands, and are bringing it to them through whatever means necessary.

Should Marketing Agencies Now Be Looking Into Chief Artificial Intelligence Officers?

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Technology has skyrocketed in the last decade — so much so, that some marketing agencies are even looking into hiring on CAIO’s, or Chief Artificial Intelligence Officers. Yes, you read that correctly.

Concepts like artificial intelligence and machine learning are not as abstract as they once were. They’re now flowing into various aspects of the advertising world, forcing marketing agencies to keep up with the technology and successfully direct it into their business.

What Is Artificial Intelligence? 

The idea of artificial intelligence (AI) is a theory and development of computer systems that are able to perform tasks that would usually require human intelligence and interaction. Some of which include visual perception, speech recognition, decision-making and language translation.

Another way to define artificial intelligence is by using the word “crazy.” It’s something that most people can’t even comprehend at this point in time.

The Next Big Title

It’s beneficial for marketing agencies to incorporate this technology because developments such as the AI dashboard allow for the agencies to know when there are unusual patterns in their metrics. In addition, some agencies are looking into how to use AI to improve efficiency of their internal processes.

Understandably, some agencies are hesitant to let a robot-like creature take over the reigns, while some agencies are more confident. For instance, one brave independent media agency in New York just hired on a new executive director of cognitive solutions, who will be in charge the agency’s work surrounding the AI-like department.

Dont Get Left Behind

Though AI is still in it’s semi-early stages and there are currently not many, if any, positions strictly dedicated to its growing development, it will one day in the near future be worth investing in.

For marketing agencies, the creation of artificial intelligence basically means life or death. If they shy away now while the concept is still new, there will be an evolutionary divide. This means that those who didn’t jump on the AI train are left abandoned at the station, not moving forward.

Sources:

http://adage.com/article/agency-news/chief-ai-officer-big-title-media-agencies/309667/

Is the Tech Industry Becoming Too Big?

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Microsoft is beginning to cut back their sales and marketing teams, which allows us to ponder as technology becomes integrated into our daily lives. In 2014, nearly 17 million workers were employed in the high-tech sector. While this number continues to skyrocket, many other sectors are either being eliminated or restructured.

As an advertising agency in Utah, we are seeing an incredible boom here in the Silicon Slopes with jobs and economic growth.

Advantages of the Tech Boom

As technologies such as self-driving cars, virtual reality and fully automated online retailers such as Amazon, there is no stop to what technology companies are going to innovate. Technology also brings alignment to the consumer, allowing them to have a much more informed purchase cycle.

For example, before smart phones, the average consumer would visit around ten car dealerships to “kick the tires” and see pricing options. Now, the average buyers visit around two dealerships because of the help of online information and resources.Technology also allows the consumer to be smarter with each dollar they spend.

A perfect example is ride-share programs. The taxi business has never been centered around the customer experience, with rude drivers and ridiculous pricing to make for a pretty unpleasant experience. From here, comes Lyft and Uber, offering a much more customer friendly experience at a much better price. Now, taxis are struggling to survive — for better or worse.

Disadvantages of The Tech Boom

While technology is great, it has come with unfavorable conditions for some. Billions of dollars are being lost in traditional mediums such as television and print advertising. With everyone ditching anything even remotely related to the word ‘traditional’, businesses are folding. Traditional television advertising, shopping malls, travel agencies, newspapers and book stores are all having to change their models drastically to keep up with the demands of a 2017 consumer.

At Fusion 360 Agency, we understand where the eyeballs are at. We know that traditional models are dying and we are the pros of digital sustenance — from content marketing to SEO. Our combination of services have allowed us to build something great, and we’re happy to see innovation as a result.

The Way Social Media Affects Politics

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If you accessed social media at all during this past Presidential election, then your account was probably plastered with all sorts of political agendas and opinions. You know Donald Trump is constantly tweeting and everyone is either agreeing or disagreeing with what he is doing. Social media has significantly influenced the field of politics.

There is always news — always. Before the Internet, people had to wait for the news that night or the newspaper the next day to get the latest information. Now, you have news wherever and whenever you want it. Marketing agencies around the world work to keep the information flowing along with these sources of news.

The problem with that is occasional misinformation. When people check Facebook and Twitter for the latest trends, the news they pull form there isn’t always accurate.

Increased Interaction

Political polls are important and you can often find poll results on the same day. Thanks to social media, these polls have had an increased presence. Social media platforms can now report results of polls, while also allowing you to participate in polls you or your friends create.

In addition, social media now allows user to have direct interaction with candidates and elected officials. Before the age of the Internet, it was difficult to interact, let alone meet with a political official. Now, there are events that are streamed live across social media platforms where people can interact with candidates and politicians.

The Impact

Social media is still rather new. We are just seeing the beginning impacts on society. It will become more and more influential in the political realm. It will be interesting to see how it will continue to influence politics.

Social media is not only having an effect on politics, but many other things as well. Marketing agencies are no longer just doing traditional marketing. Now, they are targeting website design, SEO and more online marketing rather than traditional media outlets such as television.

Sources:

https://blog.sysomos.com/2016/10/05/social-media-affects-politics/

Speed vs. Perfection

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Famous YouTube star and entrepreneur Gary Vaynerchuk of VaynerMedia states, “Speed is four billion times more important that perfection.” As technology has made our world become increasingly fast and efficient, there is room for debate on what is more important for advertising agencies. Speed or perfection?

As an advertising agency, clients want both. They want their creative to be done fast and perfectly. Unfortunately, this cannot be accomplished in almost any situation.

Speed

Being fast on a day-to-day basis is extremely important. A wise man once said “If you ain’t first, you’re last.” Thank you Talladega Nights and Ricky Bobby for the insightful knowledge. It’s extremely applicable in today’s marketplace where being first is important on many levels.

A perfect example is the New York Times. The famous newspaper is looking to eliminate copywriters to replace them with more journalists. In protest, people stood on the street with typo ridden signs to show that in the news industry, ethics and perfection are more important than speed.

Competition for business is at an all time high, and clients are demanding high speed from their agencies. With the amount of tools available for content marketing and web development, there is no reason for agencies to spend weeks on requests from clients.

Perfection

If you make a mistake large enough, it could be the very next viral meme online. With the speed that the marketplace is demanding, mistakes will be made. Whether clients are more or less forgiving, there is a fine line to be drawn for excusable and inexcusable mistakes. Quality control of content and production is essential to producing a product that has value to the marketplace.

The Balance

While both qualities are important, value and emphasis needs to be place on one or the other. The high-speed market will leave those trying to perfect every little detail in the dust. While making sure all of our work here at Fusion 360 is perfected, speed is the name of the game.

How Advertising Agencies Keep You Updated on Current Events

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If you’re wondering how a marketing agency knows what’s going on in the news and portrays that news to you then wonder no more. An advertising agency is about doing just that: advertising. Here’s how they keep you in the know on what’s going on in your town and the world.

Clients and Communication

Marketing agencies typically do work for one or more clients. With all these clients, it is important to watch the news and stay updated on current events that could relate to one of their clients specifically. Here at Fusion 360, we have all eyes on the news so we can use events happening now and create awesome content that is relevant to our audience at that moment.

We are lucky in that we’re not only professionals at advertising why our clients are amazing, but we’re also experts at relaying that applicable information about the news and relating it back to them to make them stand out among the rest.

The Agency

All marketing firms have clients, yes, but they are also responsible for taking care of their own content and social media channels as well. Just one quick visit to Fusion 360’s social channels or blog and you will most likely not only realize how fun Fusion 360 is, but also learn something new about what has happened in Utah or the world and how advertising agencies play a role.

Blogs and Social

What many people don’t realize is that almost every big company or business that has a website also has a blog page. These blogs are not just there to add professionalism to the look of the website, but for the consumers to read and enjoy.

If you’re reading this than you obviously know about Fusion 360’s blog, which is fortunate for you because Fusion 360’s blog is stuffed full with current events and facts that you might have missed out on. Blogs are the perfect way to get questions answered that you probably didn’t even know you had. It’s as if they read your mind before the question has even come into your head. It’s exciting.

Thanks to Fusion 360 and other marketing companies, you’ll be able to show off your dazzling wit to all your close friends and they’ll envy you.

 

All You Need to Know About Social Media

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The prominence of social media has skyrocketed over the last decade. This has caused advertising agencies all over the world to step up their game and get on board the social media train.

In order to stretch your agencies advertising reach all over the world, there has to be enough social platforms to support all the hype. Read below to find out all you need to know about social media so you can be a posting pro.

 

Where are our Eyeballs Heading?

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The dictionary defines attention as “notice taken of someone or something”. Today, our attention has been divided into multiple ‘somethings’. With the evolution of technology, consumers have an enormous number of places that their eyeballs can focus. In 2016, media consumption in the United States amounts to over 12 hours of our day. Digital media, television and radio still dominate our time, with digital platforms leading the way at nearly six hours of our day. Marketing firms debate every single day as to where they should be spending their advertising dollars and efforts to speak to their targeted demographics. As attention is becoming extremely segmented, where is the advertising dollar best spent?

Video

Last year, Nicola Mendelsohn, the Vice President for Facebook in Europe stated that Facebook would be “all video” by 2021. Living in a world where everything is needed to be “Twitter length” or less (140 characters), consumers are demanding more video content to catch their attention. Consumers have become video centric and have found difficulty is consuming text content that is longer than a few sentences.

Non-traditional Television and Cutting the Cord

As cable peaked in the early 2000’s with over 68.5 million subscriptions, cord cutting has become an unavoidable trend for marketers to notice. While having 5,000 channels used to be the cool thing to have, now having access to commercial free and stream lined services such as Netflix and Hulu is the way to go. Twice.com reports that 25% of TV homes do not pay for traditional television. Millennials do not see the value in these services and simply cannot afford it with the rising costs of living and student debt being a large cost burden. Large advertisers, marketing agencies and digital marketing companies are taking full notice of this millennial spear-headed consumption trend and reprioritizing where they place their spending.

Digital

To add to the cord cutting, an estimated four in 10 Americans now get their news online. Whether it be through mobile or accessing a preferred news source website, Americans are ditching the traditional ways of sitting down for the evening news. As nearly 80% of Americans have a smartphone, phones have become the new television screen in 2017. Digital consumption trends show that these technologies are aging up into those that are in their 50s, 60s and 70s, driving forward the need for web development, video production and SEO perfection.

Sources:

http://www.pewresearch.org/fact-tank/2016/09/14/facts-about-the-changing-digital-news-landscape/

http://fortune.com/2016/06/14/facebook-video-live/

http://www.marketingcharts.com/traditional/us-adults-daily-major-media-consumption-estimates-2011-2017-59995/

 

Is the New iPhone on its Way to Being New Coke?

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Introducing, the newest member of the iPhone family — it’s the only phone on the market that will literally force you to buy Bluetooth headphones. Heck, why stop there? While you’re at it why not buy a new car stereo with Bluetooth capabilities so you’ll be able to charge your phone and listen at the same time as you roll down Utah roads?

It’s no secret that the iPhone 7 is getting mixed feedback. We were all expecting innovation that would make Steve Jobs proud. Instead, we felt the sting of an insult as they made us all aware that our technology is outdated and we’re behind on the times.

The cherry on top is the fact that users are finding their headphones crashing since the newest iOS update. As technology continues to grow, advertising agency employees are anxious to see if Apple’s courage is warranted or if this change will fall into the same category as the epic embarrassment that was “New Coke.”

The “New Coke” Debacle

Take a step back in time when Coke decided to take a risk with a new formula. Their advertising agency had the task of creating a campaign that displayed their courage. Sitting in the number one seat for soft drinks, they felt comfortable with their decision.

After 77 days of protests from their loyal followers, and jabs from Pepsi — whose product took over the number one spot — they admitted it was a mistake brought the old formula back. As an ode to the memory of these dark times, any time a product is classified as an astronomical failure they’re given the title of “New Coke.”

Is iPhone Following in Their Footsteps?

Over the years there isn’t an advertising agency who has been able to beat the brand of exclusivity associated with Apple. Their followers are comparable to the devoted Coke fans that were behind bringing original Coke back. In a world where only the strong survive, the headphone jack that’s survived for decades is putting up a fight.

Only time will tell if the innovation sticks or if the insult “New Coke” is replaced by “iPhone 7.”

What Cord-Cutting Means for Cable Companies

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It was only a few years ago that the cable TV industry was laughing off the idea of cord cutting. At the time, it appeared to be fringe movement by a few frustrated customers and a handful of upstart millennials. Today, the cable companies wish they had been right.

Marketing companies have been watching the cord-cutting movement closely. What started as a small trend has grown into a formidable movement away from traditional cable TV subscriptions. The number of households that subscribe to cable TV has steadily declined over the past several years; A 2010 study by Experian showed that 4.5 percent of U.S. households were cord free. By 2015 that number had climbed to 7.3 percent. Providers of paid TV are losing an average of 350,000 subscribers each quarter.

What does this mean for the future? Research conducted by TransDigm Group Incorporated shows that in 2011, 101 million households in the United States subscribed to cable TV. The research predicts that at current rates, that number will decline to 95 million households by 2017.\

Marketing companies recommend that cable providers closely monitor the millennial movement. Forrester Research reports that by 2025, 50 percent of American adults under the age of 32 won’t pay for cable TV subscriptions.

This slow but steady move away from cable is undoubtedly affecting cable TV providers financially. The average TV customer pays $123 a month for cable. At the current rate of subscriber loss, cable companies are losing an additional $43 million a month each quarter in subscription fees.

To combat this loss, many cable providers are turning to marketing companies for ideas. Several have begun offering slimmed down subscription packages that feature fewer channels for a cheaper price. Others are creating their own versions of online streaming services, such as Dish Network’s “Sling TV.” Methods may vary, but the key to cable companies staying afloat through the cord-cutting movement is adaptation.