Posts Tagged ‘brand marketing’

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MILLENNIALS – THE BOTTOM-LINE

May 16, 2014

Final post on marketing to Millennials (age 14 to 33). The report I have been quoting from (published by MediaPost) concludes that TV is still the media leader, but social media is coming on strong.

For kids that spent their youth in front of the TV, and not the Internet or game console, TV is their primary influencer in perceiving brand value. 73% of 26–33 year-olds, compared to 66% of 18–25 year-olds, consider TV to be their biggest influencer when it comes to brand value.

TV and social media are now paving the  way with Millennials: 29% and 26% indicated TV and social, respectively, as the media most likely to introduce them to a new product for trial. Both men and women indicated social and online ads are almost as important as TV.

The biggest difference between men and women is exposure to traditional advertising (TV, radio, magazines). Women are almost 2.5 times more likely than men to use traditional advertising in their brand selection criteria. The criteria for selecting a new brand for trial?

  • Value/price – 62%
  • Recommended by friend – 55%
  • Brand reputation – 47%
  • Quality – 35%
  • Brand exposure through social media – 29%
  • Eco-friendly brands – 28%
  • Recommended by parent – 25%
  • Entertaining ad campaigns – 23%
  • Prestige/social perception – 20%
  • Established brands that instill trust – 20%
  • Brand exposure through traditional advertising – 19%

Now, after all this data and all these posts… here’s the bottom-line:  No matter what media you use to find your audience, two generations are driving consumer spending today, Baby Boomers and Millennials. But all age groups still pick you based on four key attributes: 1) value/price, 2) recommendations by people they know, 3) your company’s reputation, and 4) perceived quality of your product/service (price + quality = value). Keep focused on these and you will be fine.

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DOES EVERYONE WATCH THE SUPER BOWL?

January 30, 2014

Well, no, and that presents an interesting marketing opportunity. If you have to compete with a competitor that has a bigger audience or a more appealing brand, look for ways you can “counter program” to reach a different segment of the market.

Sure, the Super Bowl is the Big Dog, averaging 86-111 million viewers annually, but it’s not the only dog in the fight. Animal Planet’s tenth annual Puppy Bowl will also pull in some great rating numbers with 66 adorable pups competing. Guess what has been the top-rated Super Bowl challenger? The Public Broadcasting Service, PBS. The runner-up for eyeballs is Downton Abbey.

Next week, check back for my take on Super Bowl commercials. Who got the best return on their $4 million investment in 30 seconds?  Some advertisers have already gotten a return. As of this week, Super Bowl teasers on YouTube have been watched more than 44 million times. Last year, Super Bowl commercials were viewed more than 265 million times on YouTube, and 80 million of those views occurred before game day.

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FREE BOOKS FOR THE HOLIDAYS

December 14, 2013

Book Photo - 2010 002Looking for a business gift? Why not give yourself or friends a copy of my marketing book: Powershift Marketing: 101 Ways to Shift Your Company Into High Gear. I am having a close out special (FREE) of the few books I have left before introducing my updated 2014 e-book.

Just go to my website and order as many books as you want. On the order form, in the “Do you have a coupon” section, type in DENNETT in the Apply Coupon spot – you will only pay for shipping and handling. Best of all, everyone that has my book will also get a free copy of my e-book version of the book in 2014, which will have an expanded social media section. Again, just go to my website and get your free book: www.powershiftmarketingbook.com

Happy Holidays.

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A PENNEY FOR YOUR THOUGHTS

December 9, 2013

Back to J.C. Penney for a moment. If I am going to comment on former CEO Ron Johnson leading them over the customer cliff with a $1 billion loss and a 25% drop in sales during his first year, I should update you when they are doing better. Recently they reported that same-store sales rose in October, the company’s first monthly same-store increase since December 2011.  Penney also reported that online sales at JCP.com continue to grow, rising 38% in October from a year earlier. Now, they didn’t do as well in November, but of course the real report card will be Christmas.

Why should you care about J.C. Penney, what is the marketing story here? Any business can turn itself around when they begin listening and respecting their customer base. Are you listening and responding to your customer base?

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IS TWITTER FAKING IT?

October 28, 2013

Twitter is planning on raising $1 billion or more in a public offering. While they have lots of growth, they are losing more money ($69 million, pace of its user growth is slowing, and ad prices are coming down. So will the world of retweets, hashtags and decks ever by a great marketing tool for your business? Plus, how much traffic on Twitter is real, and what’s being driven by computerized fake accounts?

As reported by the Wall St. Journal, Twitter is populated by millions of accounts of questionable legitimacy. “They range from entirely robotic (and often incomprehensible) spammers to more cleverly programmed accounts spitting out tweets designed to find their way into the occasional search results or discussion thread.”

Main reason these bots exist is the fast growing market of buying and selling Twitter accounts. Just like email addresses, junk mail marketers can buy Twitter accounts. Another reason for fake tweets is that it so easy to create and automate tweets, thanks to the way Twitter allows automatic posting using third-party applications.

So the question for the week: Let me know how many followers you have and if you have found that your Twitter account is creating real business.

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TIME MAGAZINE AND OTHER CHALLENGES

October 7, 2013

I used to read Time Magazine every week. But like many of you, I stopped subscribing to it a decade ago. Now, I am one of the “lobby readers” trying to find it when I am in various waiting rooms. With the failure of US News and World Report as a print and as a digital magazine, I was wondering what is happening with Time?

It looks like it is still growing. Nancy Gibbs was just named the magazine’s new managing editor. She is a long-time veteran of the magazine, joining as a fact checker back in 1985. In various media interviews Gibbs has revealed that Time’s total readership is bigger than at any point in its history as a result of digital readership. Gibbs recently told Ad Age she doesn’t foresee the title going digital-only.

The question remains, however, who is paying for it, as advertisers continue to ditch print. This is the core question facing every magazine and newspaper in the next 12-months. Can a business model be developed that allows digital and print to survive as partners? I just got back from Portland and the Oregonian has launched one of the most innovative approaches by eliminating home delivery on selected days and trying to move more people online.

This week ask yourself what challenges are you facing in the next 12-months and what plans do you have to solve them?

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WHERE ARE BRANDS BORN?

September 23, 2013

Many of you are working to build your brand. But where are brands born? Often people forget that brands begin with making sure your brand strategy is reflected in your vision statement. Case in point: Netflix. A WSJ column by Tom Gara (tom.gara@wsj.com) reflected on a recent change that Netflix made in their “Long Term View”, a manifesto-like vision statement on what the company is and what it is becoming.

Originally published in April 2013, it stated: “Over the coming decades and across the world, Internet TV will replace linear TV. Apps will replace channels, remote controls will disappear, and screens will proliferate. As Internet TV grows from millions to billions, Netflix, HBO, and ESPN are leading the way.” It has now been revised to: “As Internet TV grows from millions to billions, Netflix is leading the way.”

Netflix went from pushing the industry forward along with two of cable’s most successful players, to doing the work all on its own. What else has changed? Netflix used to state that they were “not a generic video company doing news, sports, reality TV and so on. We are movies and TV shows.” Now, it states: “We are a movie and TV series network.”

Why comment on these changes? Right now many of you are beginning to update your strategic plans for 2014. But are you forgetting to integrate your brand strategy into your plans? Remember, a brand grows out of what you say to yourself, before you say it to others. If you need help with developing your marketing plan for 2014, give me a call.

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GET YOURSELF A SLOGAN – JUST DO IT

September 13, 2013

It’s the 25th anniversary of Nike’s “Just do it” slogan. Nike and ad agency Wieden + Kennedy have made this one of the powerhouse branding tools for Nike, and it has almost nothing to do with their products.  As the keeper of one of the world’s best-known airline slogans for years, “The Only Way to Fly,” I was curious why more people are not using slogans today. It is probably because in our toss-away world, no one is willing to stay with a slogan long enough to make it work. But if fully integrated into your marketing efforts, slogans can be a great mind-control tool.

How many of these slogans are still living in your mind?

“They’re G-r-r-r-eat!” Back in the 1950s, Tony the Tiger growled his way into America with this slogan for Frosted Flakes. It is now one of the longest running and most recognized slogans in TV advertising history.

“Rice-A-Roni, the San Francisco Treat” Could be the most famous jingle in American ad history. The original commercial in 1959 turned a sleepy family business into a food leader. It was bought by Quaker Oats in 1986 for $275 million.

“The Best Part of Waking up is Folgers in Your Cup” This line has been used in every Folgers commercial since the 1960s.

“Don’t Leave Home Without It.” Ogilvy & Mather created this slogan in 1975 for American Express. In 1985, BBDO responded with “Visa, It’s Everywhere You Want to Be.” And then in 1997, MasterCard introduce the one I think is used the best, “There are some things money can’t buy. For everything else, there’s MasterCard.”

“Nothing Outlasts the Energizer. It Keeps Going, and Going…” Produced by DDB Chicago Advertising in the 1980s, this is the ageless slogan that comes with the pink bunny.

“Pardon Me, But Do You Have any Grey Poupon?” Created by Lowe & Partners in the 1980s, this strangely effective spot has been parodied countless times.

“I’ve fallen and I can’t get up.” Launched in 1987, Life Alert is still using it and it has become part of pop-culture.

I could go on and on. The point is that slogans have been the backbone of advertising for decades. So, why not try one? Although AdSlogan is a UK company and website, it’s a fun site to explore slogan options: http://www.adslogans.co.uk/site/pages/home/hall-of-fame.php

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COME FACE TO FACE WITH NEW MEDIA

July 26, 2013

It’s a wonderful summer day. No major post today, but thought this was fun (from Amy Corr of MediaPost). It shows that there is no shortage of new advertising media.

Beard adWelcome to Beardvertising: Miniature billboards that clipped to men’s beards. Cornett-IMS, the agency that is willing to claim that they invented it, prefers to call the mini billboards “BeardBoards.” To date, close to 1,500 men worldwide are participating. Wow, the world economy is weak!

As a bearded person myself, I am not planning on giving up my day job just yet. Guys are paid $5 a day and they need to post proof online. So far, three brands have signed up for beardvertising including Dollar Shave Club and A&W Restaurants. If you want to test this new media, let me know, my beard is ad free for the weekend.

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HOW DO YOU FIND NEW MARKETS?

June 27, 2013

In my small business seminars, I’m often asked “How do you find new markets?” My answer is to work “on your business” not just “in your business” so you can take the time to look around.

For example, visit any shopping mall and you can you tell that obesity is an issue. While retailers are happy to create clothes for the super-sized male, plus-size women have long been left to tent-like apparel from specialty retailers like Lane Bryant. But obesity isn’t going away.

According a story in the Wall St. Journal, Center for Disease Control in Atlanta research shows that the average American woman today is 5 foot 4, weighs 167 pounds, and has a 37-inch waist. That’s roughly a size 14. Yet most designer styles top out around size 12. That’s a big underserved market and the public is demanding a change. Abercrombie & Fitch is facing a petition to make plus sizes after 2006 CEO comments resurfaced stating that “A lot of people don’t belong [in our clothes].”

At Cornell University two apparel-design students found in their research that plus-size women hold 28% of apparel purchasing power in the U.S., while their spending accounts for only 17%.

 If you want to find new markets, just look around, then use research to confirm your observations. As I point out in my book, the first step to successful marketing is finding out what the public wants and needs. So, at your next staff meeting, asked everyone to bring in an idea for a new market for your product or service.