However self-serving this posting might seem to those professional service firms that the author has solicited (to produce sizzle reels for their respective web sites (and large audience presentations), per story in today's NYT the fact that the White House is now embracing this strategy should speak volumes to those that have been deaf to my "screaming".
I'm not opining on the content of White House Economist Austin Goolbee's presentation, even if Austin shares my penchant for doing stand-up comedy. [Economists, in my humble opinion, rank right up there with stock traders that rest their laurels on technical analysis; they're chart readers. Charts and graphs tell you what happened yesterday, but are not necessarily accurate road maps to what's going to happen tomorrow.
See my post "Don't Be a Twit.." to appreciate that we've frequently been in the advance army when it comes to embracing new media applications for businesses. The clip below is just another piece of illustrative evidence as to the relevance and importance of using video to broadcast your message in today's world.
Wednesday, October 20, 2010
Monday, October 18, 2010
Social Media Networking: In the words of Scott McNealy
Sun Micro System's founder Scott McNealy was prescient when he said back in the early 1980's:
"..The network is the business, the network is the future, and the network is what matters."
Although McNealy was referencing the power of network computing [devices] as opposed to the power of social networking, that same phrase has become the driving force for the Internet's most powerful utility.
"..The network is the business, the network is the future, and the network is what matters."
Although McNealy was referencing the power of network computing [devices] as opposed to the power of social networking, that same phrase has become the driving force for the Internet's most powerful utility.
Friday, October 15, 2010
Quant Marketers and Black Boxes Replacing Mad Men??
Since our theme for several of the past postings has focused on social media apps from the perspective of MadMen marketers, Bloomberg LP's Ryan Flinn wins the coverage award of the week in connection with the story he filed today: Marketers Mine Facebook, Twitter Posts to Duck Brand Snafus
Ryan Flinn's story: profiling a contest sponsored by a consumer product company soliciting quant-centric marketing companies that would mine social network messages to determine the answer to what is seemingly a simple question: "Why do men wear stuble?"...The hoped-for prize: a slug of new contracts from the consumer product company for the quant company that demonstrates the greatest skill at delivering top analysis of granular messages purged from social media sites...
I thought I knew the answer to the $64 million question right away. As plain as the nose on my face..or our face. Let's see...men have stubles because the recession is forcing men to cut back on shaving cream so they don't have to cut their facial hair..?? mmmm...men wear stuble because women say it feels good on their...?? whatever. mmm...men wear stuble because its something they can scratch in public, without making a scene.. ?? I'm thinking...nah!...that's not why men wear stuble!
But before shouting out my answer to my computer screen, I wanted to get scientific back-up, so I reached out to (8) gals in my network..living in different parts of the country and ranging in age from 18-55; pretty much the same profile/demographic of the social media applications that were interrogated by a two-ton computer system.
The answer I came up with was [not surprisingly] the same answer provided by the winner of the above-noted contest.
The moral to the story? For brand marketers reading this snippet: it could have merely cost you 2 hours of my time (a fraction of the cost of the study's undertaking, and a fraction of the cost of future 'market research' that you'll be investing in) to get the same answer that Hal the Computer can deliver.
Don't get me wrong; I'm a traditional madman, but I also love granular data and black boxes; their utility is confirming what intuitive experts have concluded. Spend wisely, not lavishly.
Thursday, October 14, 2010
Don't be a Twit..Tumble Instead
Well, I hate 'blogging more than a few times a week, no less twice in one day, but it was a slow day today, and this comment deserved its 15 seconds of fame while its still fresh:
Some of my peeps from the ‘old days’ remember me saying “if you don’t have a website, you don’t have a business!”….gee..did I put my age on my sleeve?
Then, a few years ago (think 2006 time period)…before it was popular with some of my popular ‘business world’ friends..I ranted “you need to have a blog!!”
And, in early ’08..when it was already popular with the masses, I gave in, and suggested to my wingtip pals that they should Tweet…(most called me a twit..simply because there’s no real ROI..)
Btw…I grudgingly have a Facebook account..but rarely update it…some things even I won’t do!
Ok..whatever…but according to this story from the NY Times…the Tweeters with wingtips (including former US Secretary of Labor Robert Reich) are now dropping out of twitter, and blasting their gas from Tumblr.com…
Why?...among other reasons: it supports rich media applications (think "video" and audio clips!)..and video clips is an app that's been killer since...well, since the time Television was introduced...duh..
#Red Bull (y): Believing Your Own Bull Can Blow Up Your Brand
Per link to WSJ story profiling a lawsuit brought by promotional idea-man Dan Hogan against Red Bull, the elixir to the under-energized.
Four years ago, Hogan apparently supplied Red Bull execs with the idea for a publicity stunt, one in which someone breaks all records and sky-dives from the stratosphere--20 miles high to be exact, in a NASA suit. According to the lawsuit, after Hogan presented the idea, and then exchanged multiple emails and letters re: the logistics of the stunt, fee agreements etc, Red Bull purportedly told Hogan to go fly a kite..and lo and behold, four years later, introduced the promotion (still pending) as if it were their own concoction.
Before another brand starts drinking its own juice and becomes intoxicated with a sensation of IP energy, and forgets that good will is its most precious asset:
Rule #1..Stay sober when it comes to stealing infringing on other people's ideas..However well or poorly-documented the "agreement" between Hogan and Red Bull might be, Bull's allowing the dispute to escalate to the point of litigation covered by the media is dumber than jumping out of a plane without a parachute....
I don't drink the stuff, but if I did, and if I were a tree-hugging brand loyalist and heard about the dispute, I'd automatically conclude that Bull bullied the idea creator, only because they think they can. I'd then take all of those cans and pour them down the drain.
Four years ago, Hogan apparently supplied Red Bull execs with the idea for a publicity stunt, one in which someone breaks all records and sky-dives from the stratosphere--20 miles high to be exact, in a NASA suit. According to the lawsuit, after Hogan presented the idea, and then exchanged multiple emails and letters re: the logistics of the stunt, fee agreements etc, Red Bull purportedly told Hogan to go fly a kite..and lo and behold, four years later, introduced the promotion (still pending) as if it were their own concoction.
Before another brand starts drinking its own juice and becomes intoxicated with a sensation of IP energy, and forgets that good will is its most precious asset:
I don't drink the stuff, but if I did, and if I were a tree-hugging brand loyalist and heard about the dispute, I'd automatically conclude that Bull bullied the idea creator, only because they think they can. I'd then take all of those cans and pour them down the drain.
Tuesday, October 12, 2010
Social Media Strategies For Dummies-Out of the Mouth's of Babes!
From a marketing strategy perspective, social networking aka social marketing is mystifying to many marketers, especially the grey beard marketing "pros' that are struggling to remain relevant in a world ever-more populated with 20 and 30-something's that are rapidly displacing the old guard sitting in corner offices (think "mad men").
Before continuing, I like to think that I sit on the cusp; I'm a grey beard, but for the past 15+ years, I've been labeled a visionary by many peers for leveraging a host of new media applications on behalf of clients.
That said, I've also been scratching my head for quite a while re: the marketing/branding efficacy and ROI of making a major shift (time/resources/ad spend) to the Facebook's and Twitter's of the world.
I try to avoid Facebook, not only because my 20-something daughter often cringes when she notices that her friends have "friended" me, but because I don't know anyone--within her universe, or mine, that responds to advertising or solicitations on social networks.
At the outset, I was necessarily perplexed by the non-existence of revenue models of these networks..as it took quite a while before Facebook and Twitter and the others introduced advertising apps for marketers.
I, for one have experienced [almost] zero returns from cpm ad campaigns on the internet. A total and complete waste of time if you ask me, unless of course those campaigns encompass a multitude of similar-demographic sites, and are further complimented by ad campaigns within traditional and out-of-home media.
Note: CPC campaigns are justifiable..
In any case..as a group member to various LinkedIn groups (for those that just landed on Planet Earth, LinkedIn is one of the leading social media sites catering to business professionals) I noticed a question posed within a marketing group--one presented by another grey beard and struggling to understand social media apps, so that he can advise his clients accordingly.
The best answer came from a Lauren Berger , a lovely young lady that provided great guidance. Lauren is currently a marketing exec for a major auto dealership in the midwest. My guess is she will be reporting next from a corner office at Digitas...or at least that's my hope!
Note: As much as everyone seems to gravitate to the gravitas exuded by the B-school hipsters that can be found inside the marketing cubicles of all the major ad agencies and Fortune brands, Lauren has neither top school pedigree, nor has she interned, or worked in the digital marketing dept of a major corporation or major agency. I say that her guidance is spot-on, rational, and better than any advice that jibber jabber consultants can offer to clients....here it is:
There are plenty of resources you can use to self-educate yourself. Websites like Mashable.com, DoshDosh.com and SocialMediaToday.com are great for information on general practices, news and the specific applications you can use. Then there are the experts like Mari Smith (Facebook) or Lewis Howes (LinkedIn) who offer blogs, webinars and podcasts on their areas of expertise. There is no dearth of free information, if you have the patience to wade through it.
If you have no idea where to start, then a professional may be your best bet. There are plenty out there (Recession = Social Media Expert boom?) so keep an eye out for the following criteria in your search:
1. An understanding of tracking and analytics. Anyone who tells you that you "can't determine ROI from social media" shouldn't call themselves an expert. You can track page hits, bounce rates, conversation and buzz. You can even "engineer" a testable situation - give out a coupon code for Facebook customers, for instance, and see what kind of results and feedback you get from customers.
2. A firm grasp of SEO. No one will read your blog post if it shows up on the 4th page of Google search results.
3. A comprehensive stable of social media application knowledge. Any consultant worth their salt will know how to use the heavy hitters such as Wordpress, Facebook, YouTube or Twitter. It takes a true maven to be able to effectively use secondary apps and add-ons like Stumble Upon, TweetDeck, etc. to maximize efficiency.
4. A fundamental understanding of the purpose of social media. A good consultant will know how to not just market to, but engage your clients in conversation. The key word is social - you aren't trying to blindly throw info at your potential and current customers. You are trying to create brand advocates, who will be passionate about your product and people.
5. A command of strategy. Your social media action plan will vary according to your need. What may work for you won't necessarily work for someone else.
I hope this is helpful, I'm happy to help any other way I can. Feel free to DM me if you have any questions!
Before continuing, I like to think that I sit on the cusp; I'm a grey beard, but for the past 15+ years, I've been labeled a visionary by many peers for leveraging a host of new media applications on behalf of clients.
That said, I've also been scratching my head for quite a while re: the marketing/branding efficacy and ROI of making a major shift (time/resources/ad spend) to the Facebook's and Twitter's of the world.
I try to avoid Facebook, not only because my 20-something daughter often cringes when she notices that her friends have "friended" me, but because I don't know anyone--within her universe, or mine, that responds to advertising or solicitations on social networks.
At the outset, I was necessarily perplexed by the non-existence of revenue models of these networks..as it took quite a while before Facebook and Twitter and the others introduced advertising apps for marketers.
I, for one have experienced [almost] zero returns from cpm ad campaigns on the internet. A total and complete waste of time if you ask me, unless of course those campaigns encompass a multitude of similar-demographic sites, and are further complimented by ad campaigns within traditional and out-of-home media.
Note: CPC campaigns are justifiable..
In any case..as a group member to various LinkedIn groups (for those that just landed on Planet Earth, LinkedIn is one of the leading social media sites catering to business professionals) I noticed a question posed within a marketing group--one presented by another grey beard and struggling to understand social media apps, so that he can advise his clients accordingly.
The best answer came from a Lauren Berger , a lovely young lady that provided great guidance. Lauren is currently a marketing exec for a major auto dealership in the midwest. My guess is she will be reporting next from a corner office at Digitas...or at least that's my hope!
Note: As much as everyone seems to gravitate to the gravitas exuded by the B-school hipsters that can be found inside the marketing cubicles of all the major ad agencies and Fortune brands, Lauren has neither top school pedigree, nor has she interned, or worked in the digital marketing dept of a major corporation or major agency. I say that her guidance is spot-on, rational, and better than any advice that jibber jabber consultants can offer to clients....here it is:
There are plenty of resources you can use to self-educate yourself. Websites like Mashable.com, DoshDosh.com and SocialMediaToday.com are great for information on general practices, news and the specific applications you can use. Then there are the experts like Mari Smith (Facebook) or Lewis Howes (LinkedIn) who offer blogs, webinars and podcasts on their areas of expertise. There is no dearth of free information, if you have the patience to wade through it.
If you have no idea where to start, then a professional may be your best bet. There are plenty out there (Recession = Social Media Expert boom?) so keep an eye out for the following criteria in your search:
1. An understanding of tracking and analytics. Anyone who tells you that you "can't determine ROI from social media" shouldn't call themselves an expert. You can track page hits, bounce rates, conversation and buzz. You can even "engineer" a testable situation - give out a coupon code for Facebook customers, for instance, and see what kind of results and feedback you get from customers.
2. A firm grasp of SEO. No one will read your blog post if it shows up on the 4th page of Google search results.
3. A comprehensive stable of social media application knowledge. Any consultant worth their salt will know how to use the heavy hitters such as Wordpress, Facebook, YouTube or Twitter. It takes a true maven to be able to effectively use secondary apps and add-ons like Stumble Upon, TweetDeck, etc. to maximize efficiency.
4. A fundamental understanding of the purpose of social media. A good consultant will know how to not just market to, but engage your clients in conversation. The key word is social - you aren't trying to blindly throw info at your potential and current customers. You are trying to create brand advocates, who will be passionate about your product and people.
5. A command of strategy. Your social media action plan will vary according to your need. What may work for you won't necessarily work for someone else.
I hope this is helpful, I'm happy to help any other way I can. Feel free to DM me if you have any questions!
Saturday, October 02, 2010
Torching A Brand: FAO Schwarz Case Study
Several months ago, a LinkedIn.com member posited the question to a group of professional marketers: "In one sentence, what's the definition of marketing?". 600+ respondents proffered their opinions; more than 500 failed to stay within the one-sentence guideline. Our answer was "Marketing is about connecting the tag line to the bottom line.."
You ask, "What does that have to do with the title to this posting?"...
If there was ever a case study in how to torch an iconic brand, it might very well be found in the corporate marketing files of the those that have steered FAO Schwarz brand over the past five years.
With silver spoon in mouth, I was an FAO customer throughout my less-than-impoverished youth. After all, FAO was the uber-luxe destination for 2-12 yr olds for two generations. Growing from a single venue in New York, to multiple stores throughout the country, FAO did what many other retailers did during the go-go days...they tried to introduce their brand to the masses.
Then came the new normal economy, and the concept of $1000 life-sized teddy bears and $2000 dinosaur-sized toy pianos became less than normal, and FAO Schwarz was sent into the critical care unit.
First, management tried exporting the brand to other countries, then, after being acquired by private equity firm DE Shaw--a group that caters to the ultra high-net-worth investor and institutional portfolio managers, it closed down stores that were bleeding, including the Las Vegas venue, until there was only the NYC flagship. Then they closed that store and reopened it 4 months later after extensive 'renovations'.
In May 2009,after the Toy Czars at "ToysRUS" acquired the brand in bankruptcy, the marketing gurus at ToysRUS are now introducing FAO 'pop-up stores' within the four walls of a retail chain that is targeted to the masses.
I'm sorry--marketing geniuses need to understand that in order to survive, certain brands must maintain limited elasticity. This means they should not be and cannot be 'expanded.'. By doing so, you completely dilute the heritage and exclusive nature of the brand itself.
Sure, many retail "experts" dream about having more stores than McDonald's, but the fact is, its not the size, its the motion that maintains the profit/revenue momentum.
I'm a fan of pop-up stores, but why didn't anyone pursue a deal with the people at Neiman Marcus, or Bloomingdale's, and open FAO pop-up stores in those, up-scale venues?--as opposed to denigrating the brand with an effort to insert this icon within the equivalent of a Sear's store. (No disrespect to ToysRUS, but let's face it, your appeal is to the masses, and you consider WalMart a competitive threat)
The methodology of KISS (Keep It Simple Stupid) applies to every business model. Growing revenue is a great goal, but this writer suggests that too much of anything is no good, and too many don't realize that growth isn't the end all and be all; maintaining profitability and hence, brand value is what its all about.
You ask, "What does that have to do with the title to this posting?"...
If there was ever a case study in how to torch an iconic brand, it might very well be found in the corporate marketing files of the those that have steered FAO Schwarz brand over the past five years.
With silver spoon in mouth, I was an FAO customer throughout my less-than-impoverished youth. After all, FAO was the uber-luxe destination for 2-12 yr olds for two generations. Growing from a single venue in New York, to multiple stores throughout the country, FAO did what many other retailers did during the go-go days...they tried to introduce their brand to the masses.
Then came the new normal economy, and the concept of $1000 life-sized teddy bears and $2000 dinosaur-sized toy pianos became less than normal, and FAO Schwarz was sent into the critical care unit.
First, management tried exporting the brand to other countries, then, after being acquired by private equity firm DE Shaw--a group that caters to the ultra high-net-worth investor and institutional portfolio managers, it closed down stores that were bleeding, including the Las Vegas venue, until there was only the NYC flagship. Then they closed that store and reopened it 4 months later after extensive 'renovations'.
In May 2009,after the Toy Czars at "ToysRUS" acquired the brand in bankruptcy, the marketing gurus at ToysRUS are now introducing FAO 'pop-up stores' within the four walls of a retail chain that is targeted to the masses.
I'm sorry--marketing geniuses need to understand that in order to survive, certain brands must maintain limited elasticity. This means they should not be and cannot be 'expanded.'. By doing so, you completely dilute the heritage and exclusive nature of the brand itself.
Sure, many retail "experts" dream about having more stores than McDonald's, but the fact is, its not the size, its the motion that maintains the profit/revenue momentum.
I'm a fan of pop-up stores, but why didn't anyone pursue a deal with the people at Neiman Marcus, or Bloomingdale's, and open FAO pop-up stores in those, up-scale venues?--as opposed to denigrating the brand with an effort to insert this icon within the equivalent of a Sear's store. (No disrespect to ToysRUS, but let's face it, your appeal is to the masses, and you consider WalMart a competitive threat)
The methodology of KISS (Keep It Simple Stupid) applies to every business model. Growing revenue is a great goal, but this writer suggests that too much of anything is no good, and too many don't realize that growth isn't the end all and be all; maintaining profitability and hence, brand value is what its all about.
Friday, October 01, 2010
Burnishing a Burnt Brand: Goldman Sachs Case Study
More than a few global brands have been pilloried by the press, and Goldman Sachs isn't the only icon that's been lambasted by politicians that dance to the tune of the most popular drum beaters..
But, when you've been compared to a black squid,
and when you find yourself cautioning your employees against wearing their ID badges when leaving the company premises, you know that its time to re-burnish your brand.
And, when GS spokesman David Wells poignantly says, "We need to provide a broader audience with a better understanding of who we are and what we do..", he adds a whole new dimension to the art of understatement.
This week, under the guidance of advertising icon Y&R, Goldman launched a national advertising campaign encompassing print publications and banner ads across the Net. The obvious goal is to negate the negative sentiment about Goldman, sentiment that's ballooned to bigger than the kind of bubble that grows, and then bursts in the world of financial markets.
This is going to be a longgg game; the ad program will purportedly extend for at least one year. Play-by-play commentators looking back on this week's first inning have already suggested that the public-service type ads, some similar to the post-spill BP placements, have produced a sensation that's no more inspiring than lukewarm vanilla pudding.
This writer has actually helped burnish the brand images of select financial service firms, including one or two of Wall Street's more progressive trading houses, and before Goldman calls, here are a few ideas to consider:
1. Don't hide behind a pretty picture. Taking out ads with gigantic feel good images of wind turbines (illustrating projects that you apparently helped secure financing for and earned out-sized fees from), but putting your logo in size 2 font so that it requires a microscope to recognize that the message was underwritten by you is, in all due respect, a complete waste of money.
Yes, we know that you have lots of money, but we also know that a responsible corporate enterprise doesn't want to add insult to injury to their brand by demonstrating how well you waste money.
2. Create feel-good, passionate video clips with people from your firm speaking about what's important to them, and what's important about the job they do..Caution: don't overdo it with self-serving corporate messages. Make sure they come across as regular people.
(BTW, This isn't to suggest that you should spread the videos across the web via YouTube; you can insert them strategically via your website, and select other strategic sites serving your targeted audience..)
fyi--we know the creative director behind the sizzle reel displayed in our most recent blog post (scroll down)--the programming company, MediaPlace is Tier 1, and the firm's principal, the one that created and directed the clip is awesome..he's Don Draper's idol, .if we must say so ourselves).
3. Instead of telling your staff to remove those big ID necklaces when leaving the building, or wimping out when presenting themselves for a free corporate sponsor pass at MOMA, you should have T's, ball-caps, and lap top tote bags made that say: "Ask Me Why I'm Proud to Work At Goldman!"
OK..the message is a tad too many characters for a ball cap; we can work on that. And, the T's and hats might need to be made with kevlar, but ..."BOOM!" this strategy is.experiential/grass roots marketing at its best!!
If your employee carrying the tote or wearing the T doesn't get shot, he/she will have a perfect opportunity to engage an audience in a meaningful and convincing discussion. Let's face it, if your people can sell sub prime CDO's to the most sophisticated managers in the world, it should be easy peasy for them to memorize a few value propositions! ...
If you like that idea, we know a great premium company that can produce 5000 customized pcs in 5 days..and Made In America!
Lots more ideas where this came from..and we really are rooting for you!
But, when you've been compared to a black squid,
And, when GS spokesman David Wells poignantly says, "We need to provide a broader audience with a better understanding of who we are and what we do..", he adds a whole new dimension to the art of understatement.
This week, under the guidance of advertising icon Y&R, Goldman launched a national advertising campaign encompassing print publications and banner ads across the Net. The obvious goal is to negate the negative sentiment about Goldman, sentiment that's ballooned to bigger than the kind of bubble that grows, and then bursts in the world of financial markets.
This is going to be a longgg game; the ad program will purportedly extend for at least one year. Play-by-play commentators looking back on this week's first inning have already suggested that the public-service type ads, some similar to the post-spill BP placements, have produced a sensation that's no more inspiring than lukewarm vanilla pudding.
This writer has actually helped burnish the brand images of select financial service firms, including one or two of Wall Street's more progressive trading houses, and before Goldman calls, here are a few ideas to consider:
1. Don't hide behind a pretty picture. Taking out ads with gigantic feel good images of wind turbines (illustrating projects that you apparently helped secure financing for and earned out-sized fees from), but putting your logo in size 2 font so that it requires a microscope to recognize that the message was underwritten by you is, in all due respect, a complete waste of money.
Yes, we know that you have lots of money, but we also know that a responsible corporate enterprise doesn't want to add insult to injury to their brand by demonstrating how well you waste money.
2. Create feel-good, passionate video clips with people from your firm speaking about what's important to them, and what's important about the job they do..Caution: don't overdo it with self-serving corporate messages. Make sure they come across as regular people.
(BTW, This isn't to suggest that you should spread the videos across the web via YouTube; you can insert them strategically via your website, and select other strategic sites serving your targeted audience..)
fyi--we know the creative director behind the sizzle reel displayed in our most recent blog post (scroll down)--the programming company, MediaPlace is Tier 1, and the firm's principal, the one that created and directed the clip is awesome..he's Don Draper's idol, .if we must say so ourselves).
3. Instead of telling your staff to remove those big ID necklaces when leaving the building, or wimping out when presenting themselves for a free corporate sponsor pass at MOMA, you should have T's, ball-caps, and lap top tote bags made that say: "Ask Me Why I'm Proud to Work At Goldman!"
OK..the message is a tad too many characters for a ball cap; we can work on that. And, the T's and hats might need to be made with kevlar, but ..."BOOM!" this strategy is.experiential/grass roots marketing at its best!!
If your employee carrying the tote or wearing the T doesn't get shot, he/she will have a perfect opportunity to engage an audience in a meaningful and convincing discussion. Let's face it, if your people can sell sub prime CDO's to the most sophisticated managers in the world, it should be easy peasy for them to memorize a few value propositions! ...
If you like that idea, we know a great premium company that can produce 5000 customized pcs in 5 days..and Made In America!
Lots more ideas where this came from..and we really are rooting for you!
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