How To Create Meaningful Marketing: The Next Evolution of Marketing

In The Next Evolution of Marketing, Bob Gilbreath describes an alternative approach to marketing called “marketing with meaning”, in which marketing becomes a product or service in of itself that people choose to engage with. Gilbreath provides a ton of examples of how marketers can create marketing that is meaningful, like Nike’s social network for runners that tracks member’s runs and Charmin providing luxury restrooms in Times Square. While some marketers have been trying to invent “innovative” advertising that cuts through the clutter, meaningful marketers creates marketing that adds value to people’s lives.

Some advantages of meaningful marketing are that consumers are more willing to listen to your message, it often drives word of mouth and attracts media attention, and it can build loyalty beyond reason. It can also improve attitudes about your company and I think people tend to reciprocate when brands improve their lives with marketing.

I think this is a valuable read for marketers and was one of the best marketing books of 2009 (full disclosure: I received a review copy). I like that it provides tons of examples and also goes into depth on how to implement a meaningful marketing campaign, including how to get key people in the company to sign on and how to work with creatives. If you are in B2B or small business, know that this book focuses on B2C and has few examples outside of B2C, but I think the concepts are transferable and useful.

Here are some of my takeaways from reading this book:

Create an information resource as marketing
Gibreath writes “The Web offers marketers a significant opportunity to help people uncover whatever it is they want to know, whenever they want to know it…Companies that provide answers to our endless information needs have a great shot at earning a steady stream of interested customers.”

Home Depot offered free courses on home improvement after they had the insight that people were skeptical of commercials showing people doing home improvements on their own. Blue Nile provides buying guides on their site that educate guys about jewelry, highly-sought out information for men buying important high-ticket items. And Sony created an online learning center called Sony 101, providing education on topics from digital photography to HDTV’s.

Lower the risk of switching by offering samples
If you have ever shopped at Costco and been able to have a full meal from the free samples alone, you know the value that samples can have for people. Samples can also lower the perceived risks and cost to consumers of trying new things.

Gilbreath writes “According to a survey conducted in February 2007 by the Promotion Marketing Association, nine out of ten consumers say that they would purchase a good or service if they experienced it and were satisfied”.

Cause marketing can be a strong differentiator
Gilbreath writes “A 2008 Cone/Duke University Behavioral Cause Study showed that a whopping 87 percent of consumers will switch from one brand to another that’s comparable based on its association with a good cause – that’s up 31 percent since 1993.” This is compelling evidence that associating your brand with a worthy cause can be a strong differentiator. An example is Yoplait’s pink caps that support breast cancer research.

Keep business objectives in mind when creating meaningful marketing
Some marketing efforts have been hugely successful in generating buzz and adding value to people’s lives, but have failed to achieve any business objectives. An example of this from the book is Office Max’s Elf Yourself. Despite tons of media coverage and millions of people who made elf videos of their family members, many people couldn’t recall which major office supply store was behind the campaign.

Customer service is extremely important for retention
Studies suggest that customer service is the main reason people switch brands across every major industry. An Accenture study found 67 percent had switched brands because of poor service taking an average of $4,000 of business with them.

This article has been republished from Cool Marketing Stuff.

Interim Marketing in Uncertain Economic Times

by Interim Marketing Executive, Charles Besondy

With my conservative-realist hat squarely placed upon my shaved head I ask you to consider that the economic environment we are seeing today (August 2009), specifically the unemployment rate, is what we’re going to see for many, many months to come.

I’m not going to be misled by politicians telling me just prior to 2010 elections that the days of milk and honey have returned. I know that the shaking we feel beneath our feet isn’t an earthquake; it is the vibration from countless business plans going through the shredder. There is fear and uncertainty in the land, but we must move forward even if on a different path with a different view of our business model.

Our economic world has changed–big time. I’m not an economist so I can’t and won’t talk about what the change means. I just know the business environment in which I need to succeed and help my clients succeed is very different from the one I was operating in prior to 2009.

What does this mean if you are a CEO or a marketing executive?

I believe that companies are going to be more and more reluctant to hire permanent marketers. Instead, companies will look to fill their needs on demand. They’ll augment skeleton marketing departments with interim and contract talent as they need it.

There is too much uncertainty in the land to confidently invest in a strong and capable marketing department. There is too much volatility in the marketing programs budget to justify a fully staffed marketing department. Better to keep fixed labor costs to a minimum and bring in the rock star interims for a few months as needed. No long-term commitments, no health insurance concerns, just the perfect skills and knowledge applied to the opportunity or problem for a season.

In past years, in a different economic climate, a high percentage of executives in the U.S. would scoff at the idea of relying on interim talent in marketing. Those same executives have no choice now but to seriously consider the interim option. They can’t stop marketing or else their companies will fall prey to the competition. However, they should think twice before burdening the operating budget with a fully-staffed, permanent marketing department.

Here are two sobering stats from The Financial Forecast Center.

They forecast the U-3 unemployment rate in the U.S. to be 11% in February 2010. (A group of economists surveyed by the Wall Street Journal estimated the unemployment rate for December 2010 will be 9.5%.) We’re looking at 10% unemployment for at least the next 16 months, if you wish to belief these sources.

The other sobering forecast is the GDP. The Financial Forecast Center shows the GDP improving from -3.8% in June 2009 to zero GDP growth in February 2010. I like seeing the numbers heading north, but we can’t expect much, if any, growth for the foreseeable future.

Low growth GDP and 10% unemployment is the new business environment for the U.S.

Those who adapt to the new reality will succeed. Those who manage with an eye in the rearview mirror will stumble.

Let me know directly if you’d like to discuss what an interim marketing solution might look like for your organization. To learn more about interim management within the marketing and sales function check out my book, “Leadership On Demand: How Smart CEO’s Tap Interim Management to Drive Revenue.” It’s also available through Amazon and other online book resellers in paperback and eBook formats.

This post has been republished from Charles Besondy’s blog on interim management, One Riot, One Ranger.

Emotional Intelligence in the Information Age

by Interim Management Executive Paul Travis

Growing up, you may have heard the expression, “Put yourself in the other person’s shoes”. The much heralded realm of Emotional Intelligence centers around this very type of empathy (the other half being self understanding).

My point today is that we always have opportunities to do this — whether speaking to a boss, reviewing an employee, pitching a prospective customer, and on and on.

Sometimes they’re “big things” and other times not. The question “are they sandals, boots, clogs, or moccasins” is a mental trigger for me to ask whether I’ve really imagined how the other person is experiencing our interaction.

Two great example of how this can happen every day, at a very small level, whether we’re conscious or not, came to me today in playing tag to schedule a call with another businessperson.

1. He was scheduling with Outlook, and putting notes into the “email portion”. I was receiving with Mac Mail, which only shows that text if I drill all the way into the calendar.

Yes, it would be nice to have Apple and Microsoft get their act together — but I think we might have better luck moving to the South Pacific the island where I live! And it’s really bigger than that — just understanding that all the different systems (Google Mail/Calendar, Blackberry, Palm Pre, iPhone, Android, ….) may or may not do things the same was as our system does.

2. More significantly, he titled his meeting request as “Updates”. Now his memory may be phenomenal so that when he looks at his calendar, he thinks “Paul Travis”! But all that happens for me when I look at my calendar is to wonder, who was I supposed to have updated and how was I to have done that? It feels like an incomplete, and puts me into worry mode — what was I thinking that I would have made such a note?

My suggestion for this, on both the receiving and initiating end, is to entitle the appointment with both (a) parties involved and (b) responsibility. My standard format is “Travis calls Smith”. Yes, a couple more characters than “Updates” but dramatically more helpful for both parties in recalling the discussion.

Bottom line: people are people, online or offline — so remember to ask yourself what kind of shoes they’re wearing the next time you’re interacting with another person.

This post has been republished from Paul Travis’ blog, Marketing 2020.

Every Strong Brand is a Niche Brand

by Tom Asacker

Think about it: Brand value is all about distinction and scarcity. The brand appeals, in a particular way, to a particular group of people. And that’s why those people will:

1. Pay a premium for it (which results in increased margins);

2. Go out of their way for it (which results in increased margins; and/or

3. Talk about it and show it off to their family and friends (which results in increased margins).

So this struck me as ill-informed (from Adweek, 8/31/2009):

“Explaining that it was embarking on a search for a new advertising agency, VW vp of marketing Tim Ellis said, ‘Our goal of rapidly increasing our volume in a mature market requires the Volkswagen brand to evolve into a more relevant mainstream choice.’”

“The Volkswagen brand needs to inspire our base of enthusiasts as well as reach out and captivate those in mainstream America.”

Sorry Tim, but that’s an oxymoronic statement. Enthusiasts are not the same as mainstream. Pursuing that goal is a commodity strategy destined for low margin, GM-like performance. Instead, inspire your base of brand enthusiasts, and then empower and motivate them to inspire the mainstream. See the difference?

This article has been republished from A Clear Eye, a great branding blog by Tom Asacker. It is licensed under the Creative Commons 2.0 license.

What is Interim Management?

From Wikipedia comes a great definition that concisely explains what interim management is about:

Interim management is the temporary provision of management resources and skills. Interim management can be seen as the short-term assignment of a proven heavyweight interim executive manager to manage a period of transition, crisis or change within an organization. In this situation, a permanent role may be unnecessary or impossible to find on short notice. Additionally, there may be nobody internally who is suitable for, or available to take up, the position in question.

The book Leadership on Demand, adds that interim management, while often utilized at the executive level, can also be successfully applied at the group-level position as well.

In essence, interim management is the utilization of an experienced manager to temporarily fill a gap in an organization.

The most common need for interim management occurs when an executive leaves a position for whatever reason, and the firm seeks an immediate replacement, while they search for an ideal permanent replacement.

However, an interim manager often does more than keep the seat warm. A good interim manager will add tremendous value to the organization by applying their experience and skill set to move the organization closer to achieving their goals.

Every large organization should have conversations with an interim management company like OneAccord (which specializes in marketing and sales interim management) or Tatum (which focuses on finance), so that they can tap the vast pool of experience and skills that OneAccord can provide when the need inevitably arises.

Why Every Company Needs Interim Management

Whether you are a brand new start up or a Fortune 500 company, your organization can benefit from interim management. An interim management executive goes into an organization to solve a problem or develop and execute a strategy, but only on an as needed basis. Here are some reasons that every company should consider using interim management.

Save Money
One of the benefits of having an interim management executive is that you can conserve cash. The alternative of hiring a full time interim management executive can cost significantly more to an organization. There’s often head hunter fees, the cost of a benefit’s package, employment taxes, in addition to full time wages and bonuses. Interim management can cost a fraction of the cost, but still accomplish the desired objectives.

Tap A Pool Of Specialized Marketing Executives
Finding an executive with specific expertise to solve a specific need in your organization can be very difficult and expensive. Instead, work with an interim management company that has a pool of dozens of experienced interim management executives, each with a specific area of expertise. Need someone to come in to execute a marketing roll out in China or someone to streamline the sales funnel? Develop a relationship with an interim management company so that you can tap these skill sets when your company needs them.

Get An Outside Point of View
Hiring an interim management executive during strategic planning can provide a much needed outside point of view to combat group think and bring a new perspective. While you can get an outside point of view by hiring a consulting company, you may prefer a marketing executive with 20 years experience,  who has first hand experience dealing with the problems you may have.

Reduce Opportunity Costs
When there is a gap in a key position, there is an opportunity cost of not having an effective executive in the role. Often organizations spend months to fill a key position with a C-level executive. During this time there can be a significant loss of revenue or market share. Interim management solves this problem for organizations by filling the position temporarily, until the permanent hire can take over.

See more on the benefits of Interim Management:
When to Hire Interim Management
7 Ways Interim Management Can Help an Organization

Executive Marketing Links for August

The Scarcity Effect Neuromarketing

Covering Up The Fall Of TV Advertising Branding Strategy Insider

The Massive Attention Surplus Seth Godin

New Thinking about Consumer Marketing BusinessWeek

Paralysis of Analysis: Overthinking and Bad Decisions Neuromarketing

The Crack Cocaine of Auction Sites The Big Money

Does Brand Differentiation Matter with No Competitors? The Marketing Fresh Peel

Stop selling “Social Media” and start selling results Brand Builder Blog

Indirect Influencers and Purchase Decisions Branding Strategy Insider

Gillette show how leaders can grow BrandGymBlog

Social Network Marketing: What Works? HBS Working Knowledge

Short-Term Gains and Brand Damage Branding Strategy Insider

Net Promoter Score Defined Branding Strategy Insider

Don’t Underestimate Chinese Marketers Branding Strategy Insider

Marketing Book of the Month

No Revenue, No Problem?

by Paul Travis, Interim Management Executive

One decade ago, all over again

Is anyone else’s radar going off?

At the turn of the millennium, eyeballs were the metric that drove value — not dollars — which led to many companies to walk like zombies into the water, wishing upon a star, until they drown. Lots of money was made in the stock market, and then lots of money was lost.

Now we’re seeing Twitter, Facebook, along with a gaggle of would-be’s, with astronomical growth in subscribers/members/eyeballs and no clear path to profitability (ahem, one of my strong suits).

The latest to go down was www.tr.im, which like TinyURL and SnipURL, shortened long web addresses down to something easily typeable (also fit conveniently into Twitter Tweets where every character is almost 1% of your message!)

Lots of users but no revenue model…

Wake up, people — that’s an ingredient in your recipe not to forget!

[Contact me right away if you're experiencing this condition].

This post has been republished from Paul Travis’ blog, Marketing 2020.

Photo by playerx

Steve Balmer on the Future of Digital Advertising

Steve Balmer presented at Cannes Advertising Festival this past year and discussed what he envisions for the future of digital advertising. He makes some interesting predictions, like that all content will eventually be digital. You can see the full presentation at www.canneslions.com.

12 Reasons Your Company Needs Interim Management

Here are the top 12 reasons your company needs an interim marketing executive:

1. You can’t afford to lose ground to the competition while you search for a new executive for 3-6 months
2. You can’t afford to hire a full-time experienced senior executive
3. You need to boost sales this year
4. Your marketing and sales are misaligned
5. You want to take your company to the next level in sales
6. You need the expertise to enter a new market
7. A significant revenue or marketing event is in jeopardy
8. Totally new strategies or programs must be implemented or tested
9. A specific skill set is needed, but not permanently
10. Additional bandwidth needed, but not permanently
11. Objectivity in a leadership position would be beneficial, especially during strategic planning
12. Hands-on coaching and training is required to elevate skill and process knowledge of existing staff

Next Page »