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Management Archives - Page 2 of 2 - bnbranding
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Category Archives for "Management"

1 Branding firm BNBranding

If you got hit by a bus, what would happen to your brand?

BNBranding logoDeath and taxes. The two are always lumped together as inevitable parts of life. So why, as business people, do we obsess over taxes and ignore the issue of death?

Nothing derails a small business faster, and more dramatically, than death. When a partner or key employee dies, or experiences a death in the family, the business suffers. No two ways about it.

The question is, is your brand strong enough to survive a devastating personal loss? Have you done any business succession planning at all?

My dentist lost his 3-year-old daughter in a drowning accident.  How do you go back to drilling teeth after that?

bnbranding Brand Insight BlogMy business partner lost her 14-year old son to a rare form of brain cancer. Jumping back into her role at work wasn’t exactly a priority.

Children. Siblings. Parents. Clients. Close friends. When you lose them, you also lose hard-fought momentum, motivation and money if you’re in business for yourself. And chances are, you won’t even care.

All those niggling managerial details that seemed like a high priority will almost certainly fall by the wayside. Clients and vendors are usually very forgiving in times like that, but if you don’t have some kind of contingency plan, you’re liable to experience yet another loss… of your business.

Personal loss is particularly hard on professional service businesses. When my mother died, I was physically ill for weeks. I was grief sick and unable to work.

Imagine a key attorney in a small law firm. A star architect. A senior executive recruiter with a big, fat rolodex. These key players are often the lifeblood of a company. Or as CFOs like to call them, “irreplacable assets.”

When those people go, the business goes with them. So what can you do to protect your business in case of a death?

Before you get too depressed to read on, here are some practical tips on small-business succession planning. It’s not about hiring the right law firm.

Successful business succession hinges on building your brand.

Once you’ve built an iconic brand, the business is much more likely to survive a traumatic loss. Sounds great, but how do you do that?

BNBranding use long copy to be authentic

Make it about more than just money.

Great brands stand for something beyond business. There are values built into the brand that transcend time and personnel. Patagonia for instance… if Yvonne Chounard were to die in a climbing accident, the brand would endure. Not just because it’s a big company, but because they have a large clan of customers and employees who share the company’s core values.

Have a better hiring strategy.

Business succession planning involves hiring the right people to carry the torch. You want people who share your values and your vision, not your management style. Rather than hiring clones of yourself, find people smarter than yourself, with diverse backgrounds, experience and style. That way you’ll achieve some balance in the organization and it’ll be easier to fill a void, if something terrible happens.

positioning strategy BNBrandingKeep your story straight.

Too many companies get fixated on their logo and forget about the brand story they have to tell. Logos change and evolve, but the core brand story should always stay consistent.

Unfortunately, many C-level executives can’t articulate their brand story. Even Richard Branson has a hard time with the question, “what’s the Virgin brand about.” (It’s not just about Richard Branson) So before something bad happens, put your brand story down on paper. Hire someone to help you craft the story that doesn’t revolve around any one person. Then stick with it.

Build strong alliances.

Successful companies tend to have a large number of brand affiliations.  They don’t operate in a vacuum. The more companies, people, brands and causes that you are affiliated with, the more support you’ll have in tough times. But don’t forget… all those affiliations need to be aligned with your brand. You don’t want just random alliances.

Devise a succession plan before you need it.

It’s kind of ironic… in order to get funding, start-ups have to include a slide about their exit strategy. And it’s usually pie in the sky stuff.

But many established businesses that are actually good targets for acquisitions, never even think about succession.

It’s one of those painful things that always gets pushed to the bottom of the to-do pile. But you need to make time for business succession planning. If you’re an owner, a manager, or just an employee, you need to know what would happen in the worst-case scenario.

For more on how to build an iconic brand, try this post. 

BNBranding's Brand Insight Blog

2 A feel-good brand in a bummed-out world.

It’s being dubbed a “”depressed economy.”  There are nightly reports on our current “ecomonic dulldrums,” and the  “downturn” in consumer spending.

But if you sift through all the doom and gloom you’ll find that some brands are thriving in this “challenging economic environment.”

How do they do it? Here’s the secret:

Make people smile!  It’s as simple — and as difficult — as that.

WWLogo - smallIf your product or service can elicit genuine smiles, you’ve got a winning brand. Because happiness is contagious.  And when people are experiencing stress caused by circumstances beyond their control, that little dose of happiness becomes more valuable than ever.

Disney does it best. There’s also Great Wolf Lodge. Powell’s Sweet Shoppe. Stuff-a-Bear Creations. These are brands that are built on smiles. Locally, the brand that wins the happy, happy, feel-good contest is Working Wonders Children’s Museum. Hands down.

No other business in town elicits more smiles, more Kodak moments, than Working Wonders. (On sunny winter days, Mt. Bachelor comes in a close second, but that’s more of a grown-up playground.) For kids under 11 nothing can match the hands-on play and make-believe worlds of Working Wonders.

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But I have to admit, I’m completely biased. My wife and I started the non-profit on a whim and a prayer seven years ago.  Back when there was nothing, I mean nothing, in town for young kids to do.

First we raised enough money to build some traveling exhibits. Then we went around to every summer event and introduced kids, and their parents, to our brand of educational play. It caught on. Before the days of Facebook or Twitter, it went viral. We launched in less than one-third the time, and for one-third the cost, of most children’s museums.

And every day we’re open, we see a lot of smiling kids and eternally grateful parents. Here’s an unsolicited comment that demonstrates how happy customers help tell the story of a brand:

“I have a 3 1/2 year old daughter.  What we value most is the way Working Wonders grows along with her – there is always an activity that’s just right for her latest developmental stage and current interests.  She draws confidence and comfort from the stations that remain the same (the grocery store being her favorite) and extends the ways she interacts with them each visit.  The new additions (the creations in the science lab!) keep her curious and provide her with exciting new learning.

I love that Working Wonders is set up to encourage parents to explore alongside their child, rather than “having a break” while their children play independently.  Activities are interesting to learners of all ages, and you can watch the bonding that happens during play.

I love how Working Wonders models ways to be a better community, such as recycled art, and gentle reminders to leave each place just as you found it in consideration for the next person.  Working Wonders also gives a tremendous amount to the community – I teach parenting classes, and they have donated 10-punch cards to each of my families.  How wonderful for me to be able to help parents with their parent-child interactions, and then give them free passes to the best play to try out their new skills!”

You can see the smile on the daughter’s face just by reading her mom’s comments. Look how many times the word “love” appears. That’s brand loyalty.

Unfortunately, in the non-profit world brand loyalty doesn’t always translate to financial viability. For children’s museums, loyal, repeat customers aren’t enough. They also need loyal, repeat donors. Because admissions aren’t enough to sustain the organization, and right now, those donors are harder to come by.

Over the last five years Working Wonders relied heavily on corporate sponsors to help meet its annual fundraising goals. But most of those companies were in the building industry — the most hard-hit by the recession.

So I’m doing something I’ve never done on the Brand Insight Blog… I’m asking directly for your financial support.  Dig deep, and give big!

Working Wonders is an essential community asset, partnering with more than 20 social service agencies throughout Central Oregon. It’s the go-to resource for early childhood education, and it needs your help. Now, more than ever.

There are many ways to give…

Sponsor an exhibit in the museum. Commit to a corporate sponsorship. (It’s a great branding opportunity for any company that targets young families.)  Pledge to an annual giving program. Leave an endowment. Provide financial backing for a Working Wonders event. Or give an in-kind donation.

If Working Wonders doesn’t generate enough support by October 1st, it may not survive to see an economic rebound. So give now. The smiles you’ll get back are priceless.

 

2 F15 Fighter vs. the 787 Dreamliner — Why corporate mergers are seldom good for brands.

BNBranding logoIn 1997 Boeing and McDonnell Douglas agreed on a merger. Like most corporate marriages, the Boeing merger looked great on paper:  Boeing’s strength — commercial jetliners — was McDonald Douglas’ weakness. And vice-versa.

Boeing’s shortcomings on the military side would be bolstered dramatically by partnering with McDonald Douglas, maker of the F15 Fighter, the Apache helicopter, the Tomahawk missile, and many other successful weapons systems.

Two global brands, both looking to shore-up the weakest parts of their business. Two diametrically opposed corporate cultures.

The McDonald Douglas brand revolved around blowing things up. Inflicting damage. Killing the enemy. Commercial production of the DC10 and MD80 was not the priority. Their preferred customers were military men around the world, all cut from the same, heavily starched cloth. And when you sell to the same, homogeneous group for a long time, you begin to look, and act, a lot like your customers.

At Boeing the culture revolved around two words: Safety and efficiency. The imperative in Seatttle was just the opposite… kill no one. Get people safely and comfortably to their  destination. Boeing’s customers were business people, not DOD officials or foreign generals.

The two cultures were sure to clash.

2-boeing-787f15_eagle_fighter_full

For some first-hand insight, I spoke with a recently retired Boeing executive who was involved with the Boeing merger and the integration of the two companies.

“There’s always going to be one executive who ends up taking the pivotal lead in the new, merged company. And that person came from McDonald. So he was naturally more inclined toward the military side of things. It’s like having two kids you don’t give equal attention to… Eventually they start fighting. Then if you take the allowance from one of them, you got some real problems. Eventually, both kids will suffer.”

There were the usual leadership problems, plus profound problems at lower levels where integration was supposed to occur.

“Integration starts at the bottom. It’s like zipping up a jacket… You can made progress to a point, but the higher you go, the harder it is to bring the two sides together,” the Boeing exec said. “Literally, we couldn’t find any common ground.”

So if you have two competing corporate cultures in one company, what does that mean for the brands?

In this case, the McDonell Douglas brand faded away. It’s now Boeing Integrated Defense Systems and Boeing Commercial Aircraft.

The Boeing brand certainly is stronger now, in the eyes of military customers, but they all know it’s really McDonnell people and McDonnell products with the Boeing logo.

On the commercial side, the Boeing brand has gained little from the merger. In fact, my source contends that the current delay on the 787 Dreamliner can be traced, at least in part, to the merger.

“In military aviation they can push the technology and take more risks. In commercial, you don’t use unproven technology because the risks are just too great. But with the new leadership, there was a lot of pressure to try new things. The 787 Dreamliner is a fantastic platform, but they chose an unproven design for the wing-to-body joints, and now they have to go back and fix it. It’s enormously expensive.”

According to the Seattle Times, Boeing CFO James Bell admitted the delays and problems “put pressure on the profitability of this (787) program. We’ve always been concerned with the cumulative impact of the schedule delays and the pressure it puts on cost,” Bell said. “We also have been concerned with the delays to our customers and how that converts to penalties or the settlements we have to work through with them.”

Even though Boeing reported strong profits for quarter from both commercial and military orders, it’s brand is suffering. The rash of bad publicity is tremendously painful for a brand that has, historically, stayed successfully under the radar.

Because in the commercial airline business, front page news is almost always bad news.

The corporate world is littered with similarly conflicted mergers. For instance, the Chrysler/Dalmer Benz merger was doomed from the start. (At least they didn’t try to put the Mercedes nameplate on all the Chrysler minivans.) Now it’s Fiat/Chrysler, and the Chrysler brand is in big trouble.

TheMcDonald Douglas-Boeing merger was like Mercedes merging with the maker of the Abrams tank.

Not exactly compatible corporate missions.

But then, mergers and acquisitions rarely account for cultural synergy or shared brand values. Often it’s more about eliminating competition, covering up corporate inefficiencies or pleasing wall street.

It’s almost always a numbers game, not a branding play.

corporate mergers - boeing merger BNBrandingIf brands were a consideration, a lot more merged companies would maintain two different brands — rather than trying to integrate under one corporate banner. McDonnell Douglas would still be the brand for military applications and Boeing would be the brand for all commercial operations.

Amazon’s acquisition of Zappos has the potential to be a more successful example. The two companies have similar, long-term visions. They both emphasize customer service and loyalty. And they’re both on-line retailers.

Not only that, I’ll bet Bezos is smart enough recognize the value of the Zappos brand.

If you’re seriously considering a merger or an acquisition, include a thorough brand evaluation in your due diligence. Study the corporate cultures and take extra time to devise a long-term brand strategy. If integration is the plan, it might be a lot harder than you think.

Just ask the engineers at Boeing.

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1 waste in advertising BNBranding's Brand Insight Blog

Garbage In, Garbage Out — How to avoid waste in advertising

BNBranding logoI took a load to the local dump the other day. As I hucked yard debris and unwanted consumer goods out the back of the truck, I got to thinking about waste in advertising…

There are mountains of it.

Despite all the analytics that are available, and the digital targeting, and the plethora of marketing options, waste still happens. And for smaller businesses that are trying to maximize every penny spent, it really stinks.

how to avoid waste in advertising

Often it’s due to a lack of strategy. (Here’s the difference between strategy and tactics)

As an ad agency copywriter I often found myself working on poorly defined assignments. It wasn’t a lack of creative juice… we always had a lot of good ideas. The problem was lack of strategic direction.

More often than not, we simply didn’t have anything insightful to go on, which in turn produced waste in advertising… wasted time, wasted talent and wasted money.

Creativity without strategy is like a Ferrari without a throttle.

Many small ad agencies simply don’t have the personnel to provide insightful strategy. Agency Account Executives who manage clients often don’t have the experience they need to provide true strategic guidance.

Or the client doesn’t want to pay for the research and planning that is really necessary.

So the creative teams have to come up with a strategic nugget of their own, or continue throwing conceptual darts, hoping something sticks. Not a good arrangement for either party.

So here’s some insider’s advice on how to work with your ad agency,  digital marketing firm, or whoever’s handling your marketing communications in order to reduce waste in advertising:

First of all, if you want the creative product to be memorable and effective, you’ll need to do your part as a business owner or Director of Marketing. That means staying involved and providing concise strategic input in the planning phase of the advertising process.

Because it really is a case of garbage in, garbage out. And there’s already too much garbage out there.

Avoid the advertising landfill with a good Creative Brief.

Every ad agency has its own version of the Creative Brief. Creative teams rely almost entirely on this document, so the only way you can be sure your ads will be on target is to agree on the strategy mapped out in the brief. As a client, it’s imperative that you understand that document, and sign off on it!

Jon Steele, the strategy guy on the famous “Got Milk” campaign says a good creative brief should accomplish three things:

“First, it should give the creative team a realistic view of what their advertising needs to, and is likely to, achieve.

Emphasis on realistic. Honest. Authentic.

Second, it should provide a clear understanding of the people who the advertising must address. It should include some real insight on the target audience, not just a one sentence list of the demographic group.

And finally, it needs to give clear direction on the message to which the target audience seems most likely to be susceptible.”

In other words, be clear and be relevant.

waste in advertising - BNBranding's Brand Insight Blog In a nutshell, Steele says the creative brief “is the bridge between smart strategic thinking and great advertising.”  When it’s done well, the strategy and the creative execution are perfectly aligned. When it’s not done well, it produces a lot of waste in advertising.

Unfortunately, smart strategic thinking is often lacking in the small-agency environment. Agencies pay lip service to it, just like they pay lip service to doing “breakthrough creative.” In reality, most small agencies simply don’t think things through very well before the creative teams begin working.

It’s perfectly natural considering the creative product is their only deliverable. Everyone wants to get to the sexy stuff, ASAP.

Sergio Zyman, former CMO with Coke-a-Cola, says “ strategies provide the gravitational pull that keeps you from popping off in all different directions.” Likewise, the creative brief is the strategic roadmap that keeps all your agency people heading in the same direction.

Drafting a truly insightful brief is both a creative and a strategic exercise. Andrew Cracknell, Former Executive Creative Director at Bates UK, says “planners take the first leap in imagination.”

Steele says the brief should not only inform the creative team, but inspire them. Instead of just listing the problems that the creative team will face, a great brief offers solutions.

Brand Insight BlogIn the case of “Got Milk,” the brief said ditch the “good for you” strategy and focus instead on deprivation… what happens when you’re out of milk. That was a HUGE strategic leap. The creative team took it from there.

So if you’re a client, insist on staying involved until the creative brief is absolutely nailed down. Then sign off on it, and set the creative team free in the right direction.

Then, when they present the creative product, you can judge not on subjective terms, but on one simple objective question: Does it follow the brief in a memorable way?

Don’t overwhelm them with data.

Advertising people don’t look at business like MBAs do. And as a general rule, they hate forms. So don’t expect your creative team to glean much inspiration from sales reports and spread sheets. And don’t assume they understand the fundamental metrics of your industry.

You need to have your elevator pitch and your essential marketing challenges nailed down in layman’s terms before you go to an agency or a freelance creative team. As Zyman said, “If you want to establish a clear image in the mind of the consumer, you first have to have a clear image in your own mind.”

Do a presentation for the agency… present your version of the facts, and then engage them in dialog. It’ll force you to focus on strategic thinking and it can generate tremendous team energy.

But don’t be surprised if they question your most fundamental assumptions. That’s what they do.

Remember, advertising people are specialists.

Don’t expect your agency team to grasp all the nuances of your business. Even though agencies often claim to immerse themselves in your business, all they really care about are creative forms of communication. If you want someone who understands balance sheets and stock option restructuring, hire a consulting firm.

And frankly many digital advertising specialists don’t even care about creativity. They just want to put something “out there.” Anything to fill an insertion order.

It’s unfortunate that so many ads are nothing but garbage. But if you have your act together from a strategic branding standpoint, and stick to the process, a good agency can be a tremendous asset.  It’s a two-pronged approach: First, collaborate to answer the question “What are we going to say.” That’s the strategy piece.

The let the pros decide “how are we going to say it.” That’s the execution piece.

It’s a classic win-win arrangement: They can win awards, and you can win business.

For more on positioning and how to avoid waste in advertising try this post.

To get some of your own, call us. 541-815-0075

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1

Catching frogs and campfire songs — A branding lesson from summer camp

BNBranding logoRoll up the sleeping bag. Pack the bug spray and the spf 50. It’s time for camp… an annual summer ritual for parents and kids alike. It’s also a life experience chock full of useful branding lessons.

Every year, when I part with my kids for two weeks, the memories of summer camp come flooding back.

Like the lyrics of my favorite old campfire song:

There’s a hole in the bottom of the sea.
There’s a hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea. 

There’s log in the hole in the bottom of the sea.
There’s log in the hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea.

There’s a knot on the log in the hole in the bottom of the sea.
There’s a knot on the log in the hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea.

BNBrThere’s a frog on the knot on the log in the hole in the bottom of the sea.
There’s a frog on the knot on the log in the hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea.

There’s a wart on the frog on the knot on the log in the hole in the bottom of the sea.
There’s a wart on the frog on the knot on the log in the hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea.

There’s a hair on the wart on the frog on the knot on the log in the hole in the bottom of the sea.
There’s a hair on the wart on the frog on the knot on the log in the hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea.

There’s a germ on the hair on the wart on the frog on the knot on the log in the hole in the bottom of the sea.
There’s a germ on the hair on the wart on the frog on the knot on the log in the hole in the bottom of the sea.
There’s a hole, there’s a hole, there’s a hole in the bottom of the sea.

So what’s what’s that silly old song have to do with branding? Where’s branding lesson in those lyrics?

The germ on the hair on the wart on the frog is your logo. Its just one, teeny-tiny eentsy-weentsy part of a much bigger branding effort.

Don’t let anyone tell you differently. A new logo mark does not constitute a “branding effort.” Logo and Brand are not synonymous.

If it’s done well, your logo is a graphic reflection of your brand, but it’s just one small part of your branding effort. That’s the branding lesson here.

Branding is everything you do in business that might effect the perception of your company.

It’s the words you choose that go with your logo, or on your website.

Branding is the people you hire, the vendors you choose, the values you hold dear, the marketing tactics you deploy and the companies you affiliate with.

Branding is more than just the images you show. There’s also an audio component of branding that’s often overlooked… the music you play in the office, the sound effects you use in commercial, the script for answering the phone.

Like it or not, everything matters.

Here’s another branding lesson that I picked up at summer camp: Creative names, colorful flags and house identities.

Camp Wannigan. Yes, I wanna go again.

Camp Waziyatah.

Camp WeeHahKee

Camp Funnigan. (I named that one)

Branding lesson from BNBranding

Each rustic old A-Frame cabin within my camp had its own designation. We were gophers, ravens, wildcats, badgers or whatever animal that seemed to fit. Even slugs.

These days, summer camps have become very specialized. That’s another good branding lesson… The camp leaders figured out that they couldn’t be all things to all kids, so they narrowed their focus.

There are canoe camps, music camps, space camps, water sport camps, tech camps and camps for any interest under the sun. By catering to very specific interest groups, they have way fewer incidents where the parents have to drive out and fetch a disgruntled camper just a few days into the experience.

Branding also means giving up something.

Design firms will go to great lengths to deliver a beautiful new mark and type treatment for you. They’ll devise extravagant reasoning for their graphic solution, and it’s usually a huge visual improvement.

But that’s as far as it goes.  All the other components of branding — the bigger issues —  are left to the client to handle.

From a broader, business perspective, logo design is but a speck on the pimple of that frog. Like one song in a lifetime of campfires. Some stick, but most are quickly forgotten among the overall experience.

So don’t kid yourself. That new logo isn’t going to make up for mediocrity in other departments, like customer service. It’s not going to plug the gaping hole in your operations or compensate for a crummy, me-too product.

BNBranding use long copy to be authenticActions speak louder than logos.

It’s what you do as a company, and what you believe in, that make a brand. Not just how your logo looks reversed out of a dark background.

So if you’re thinking of redesigning your logo, I suggest you look a little deeper than just the design exercise. Take the opportunity to assess every aspect of your business, and ask yourself this? Am I seeing the bigger brand picture, or just the germ on the hair on the wart on the frog?

For more on logo design vs. branding, try this post.

For a more wholistic approach to branding, give us a call.

BNBranding's Brand Insight Blog

6

Marketing for financial advisors – beyond gift baskets

BNBranding logoIt was one hell of a gift basket, piled high with a delicious assortment of treats… Not unusual for the holiday season, except it came from my financial advisor.

First gift ever from a planner who I’ve worked with for more than 10 years. Apparently, the stock market’s rise inspired her to do a little outreach. That’s one of the problems with marketing for financial advisors… it’s a fair weather affair.  (She stays conspicuously quiet when the market is tanking.)

marketing for financial advisors BNBranding

Her marketing efforts are being driven by outside forces, beyond her control.

Unfortunately, her current clients see the effort for what it is. (Just buttering us up for the bad news to come.) And new prospects aren’t swayed because her personal brand isn’t strong enough to weather the whims of Wall Street.

Her brand has no differentiation and little visibility.

Here’s an example of the typical marketing for financial advisors…

• Monthly Chamber of Commerce breakfast meeting.

• Christmas card to all clients. (Gift baskets are typically reserved for only the top three or four clients.)

• One-page, off-the shelf website, never to be touched again once it’s up and running.

• Annual guest speaker luncheon. (Bring in a so-called “expert” spokesperson, book a room at a local hotel, cater lunch and then bore us to tears. If I wanted to know all that stuff, I’d do my own trading.)

It’s more of a tactical to-do list than an actual marketing plan. There’s no strategy at all. In the past it might have worked… She could get by on her good looks and good news from a bull market.

Not any more. There’s just too much competition on too many different fronts.

Compensation for independent financial advisors is typically based either on a flat fee, or on a percentage of the total assets under management (AUM). If it’s $100 million of other people’s money, they typically make 1% of that. A million bucks gross.

The problem is, when the market “corrects” itself, they might see a 30-40% drop in AUM, so they start scrambling to find new clients.

Choose one main thing BNBrandingMost just ratchet-up their networking efforts, hoping for more word-of-mouth. But it’s tough when they’ve been silent for years.

Some have discovered a new, more lucrative pipeline: Internet-based lead generation services.

Advisors sign up with an independent web directory and they pay only for highly qualified referrals. Very little effort for financial advisors. Very big ROI.

Independent, third-party directories also fill a vital role for consumers: They help simplify  the search and match prospects with a financial advisor who fits.

It’s a vexing decision, choosing someone to handle your life savings. And most financial advisor web sites  have the same, stock-photo look, and the same brochure-style copy. Very, very few have any sort of specialty or market niche.

On-line directories have been done successfully in the education market, travel, real estate,  and the auto industry. So why not financial advisors?

When prospects go on line to research “financial advisors” they begin with Google. But Google can’t sort or organize the category in a helpful way. That’s where directories come in…  they categorize advisors, provide details on specific services and nudge prospects along in the decision making process.

So assuming that you have some sort of specialty or differentiating featues, you can get a steady stream of very qualified leads and search engine optimization you could never achieve on your own.

In this day and age, marketing for financial advisors has to go beyond a static website and a Facebook page.

If you really are an expert financial planner, share your knowledge and your unique insight by writing a blog. Establish a presence for you and your personal brand in places where your direct competitors aren’t.

Do something, ANYTHING, that’s different from what you’ve always done.

Most professionals who run small service businesses believe  networking is enough. But that’s not the case right now for financial advisors. There’s no gift basket big enough for the job ahead. It’s time to start employing some new marketing tactics.

But before you dive in, consider your strategy. Because tactics without a strategy is like a ship with no rudder. For more on Strategy vs. Tactics, try this post.

If you want an idea that will dramatically differentiate you from all the other hungry financial advisors and help you retain clients without the use of lavish gifts, send me an e-mail: johnf@bnbranding.com.

For more info, try this post.

BNBranding's Brand Insight Blog

 

1 waste in advertising - BNBranding's Brand Insight Blog

Just a little trim around the ears — How to cut your marketing budget without hurting your brand image.

BNBranding logoWhen it comes to belt tightening, most marketing managers have it all wrong. The minute the boss gives them the bad news… “gotta cut your marketing budget”  they go straight to the list of tactics and start chopping off the bottom of the spread sheet. Not a smart trimming around the ears, a military-style buzz cut…

how to cut your marketing budget

First thing to get chopped  is  community support… those feel-good event sponsorships that help non-profit organizations but don’t return any discernible ROI.

The next thing on the chopping block is ”image” advertising.” Anything that doesn’t have a coupon or a response vehicle of some kind is out the window.

Brand building, it seems, can wait for better days.

Quite often, the only thing left is nearly-free social media posts and tiny little digital display ads that don’t get seven seconds of attention.

The short-term reaction often leaves companies looking quite bad in the long run.

What’s needed is a more strategic approach to cutting your marketing budget.

Rather than a military barber’s approach to cost cutting, try thinking like a surgeon. First, do no harm. Start by eliminating the marketing messages that are off brand, off target, or both.

In order to do that, you might need a second opinion.

You need more than just the bosses’ orders and one person’s opinion to wisely cut your marketing budget. You need to eliminate dangerous assumptions from the marketing planning process and work with objective criteria of some sort.

So here’s an idea… why not start with an objective assessment of what you’re currently doing? Get a second opinion on your messaging, your media buy and your overall tactical plan.

waste in advertising - BNBranding's Brand Insight Blog

In my experience, it’s often the message, not the medium, that’s the problem…

Print ads say one thing, social media says another and the web site implies something else. Sales presentations go off in one direction, while promotions head somewhere else. Radio commercials, new media, good old-fashioned direct mail… it’s all scattered around with no coherent theme.

So before you do any budget cutting, use the opportunity to think about what you’re saying. Get your message aligned with your strategy. Reevaluate every marketing “touch point” in terms of consistency, clarity and brand worthiness. Then scalp all the wild hairs.

If you can just quit saying the wrong thing, you’ll save a ton of money.

Most marketing managers assume the budget was allocated in a logical manner to begin with. But that’s simply not the case. Most marketing budgets are handed down, year after year, and are based simply on “how we’ve always done it.”  No one ever questions the underlying assumptions.

And you know what they say about ass-umptions.

Here’s an example from the medical profession: Our client, the CEO of a multi-location pediatric practice, was enamored with the idea of “excellence.”  He wanted to build a “pediatric center of excellence” and recruit specialists from all over to “elevate the level of care to new heights.”  Operationally, that’s a great idea, but it was a terrible idea for advertising.

Because the assumption — that the quality of care is relevant to young mothers — turned out to be false. Moms believe that ALL doctors are good doctors. They just want one that they like in an office that’s convenient. So in that case, we started by cutting out all the communications that were focused on the quality of care.

Here’s another example of the messaging process gone wrong. I wrote a post about an ad for Wales Tourism. A classic case of paying a lot of money to place an ad  in Golf Digest that was wrong in both its strategy, and its execution.

As one British reader commented… “Golf Wales is an oxymoron.”  And even if you accept the strategy of selling Wales as a golf destination, the message was all wrong, so cutting that ad is probably the smartest thing they could do.

The fact is, Wales Tourism probably needs a lot more than just a quick trim. They need to rethink the entire hairdo. But who’s going to do that?

truth in advertising BNBrandingAny decent marketing person can buy media that will reach the desired target audience and choose tactics that will drive traffic. But revamping the strategy and nailing down that core brand message is something else entirely.

Strategy and message development are the hardest parts of the job, and unfortunately, many marketing managers aren’t up to the task. And even if they were, many bosses wouldn’t listen.

A well-crafted, comprehensive brand strategy book eliminates that problem and makes cost cutting a lot more logical. It’s like a brand bible that provides guidance and inspiration on every decision. So when push comes to shove, there’s no doubt about what should stay, and what should go.

That’s what my firm does… We help clients flesh-out their brand story and we put the strategy down on paper. Once it’s sold internally — and all the department heads are on the same page — then we help execute on it.

And by keeping that brand book close at hand, our clients eliminate waste and save money, without sacrificing their hard-earned brand  image.

So if you absolutely have to cut your marketing budget, start by reading this post.

BNBranding's Brand Insight Blog

2

Judge Not. (And make better marketing decisions.)

BNBranding logoMarketing is a very judgemental business. Business owners and CEOs are constantly judging the results of their marketing efforts. Sometimes objectively, sometimes not.

judging your advertising agency's workAd agencies and design firms judge each other in a constant battle of “my work’s cooler than your work.” They also subject themselves to judging in award shows, where a few peers get to judge the work of hundreds of competitors on an entirely subjective basis.

When it comes to television advertising, everyone’s a critic.

TV viewers sit around and judge the advertising they see, based on entertainment value alone. If it’s entertaining enough, they might talk about it over the water cooler. If not, they vote with the remote.

But playing armchair critic is less harmful than being judgemental.

Critical thinking is tremendously important in marketing. If we didn’t look at things critically, we’d never push ourselves to come up with fresh, new ideas. Critical thinking is a key to good judgement.

You can be critical of someone’s ideas without judging the person. But there’s no such thing as constructively judgmental.

For example, “That’s the worst commercial he’s ever done,” is being critical. “That director’s an idiot for making that commercial” is being judgemental. Judgemental of who he is, versus critical of what he does.

Being judgemental has negative, disapproving connotations. It’s based on intolerance, stereotypes and prejudice.

I’ve seen a lot of sensible, savvy business owners and high-level managers make hair-brained decisions because they were too judgemental. One client I know believes that all advertising people are evil con-men, preying on well-meaning business owners. Once burned, he lets his past experience cloud his judgement to the point of being obstinately ineffective.

His poor judgement in that one area puts his leadership in question and hurts the morale of his entire team.

Good judgement, on the other hand, is the ability to form sound opinions and make sensible decisions. Great leaders and effective managers continually demonstrate good judgment. They’re open minded, they listen well, and they make good decisions based on balanced insight, rather than conjecture or some ill-conceived notion of what’s worked in the past.

Many people who strive to be less judgmental in their personal lives still fall into the trap in their professional lives. It creeps into their hiring choices, their strategic planning, and their marketing plans.

Here’s a classic example that I’ve heard more than once: “Oh, I tried radio, and it doesn’t work.”

That particular business owner condemned an entire medium based on one lame attempt… he had a crummy story to tell, a poorly-written script, and a media schedule that was thinner than a supermodel on a new year’s resolution. Of course it didn’t work for him — that time.

I’ve even run into CEOs who are completely biased when it comes to color. And I’m not talking about race. I’m talking about favorite colors and pet peeves like red, yellow or any shade of orange.

How rational is that?

Personal preferences and stereotypes creep into this business constantly. And stereotypes, based on judgmental conclusions at best, are not a helpful component of your marketing program.

In fact, poor judgment based on stereotypes or close-mindedness can ruin a small business.

At my firm we go to great lengths to get beyond the usual stereotypes of the target audience. One sentence on a creative brief cannot possibly sum up the feelings, attitudes and behaviors of a group.

On the creative side, we always try to develop intriguing stories with quirky, unexpected characters. (In Hollywood writing circles it’s common knowledge that most memorable heroes and villains are those that defy traditional stereotypes.)

Here are a few stereotypes from the marketing world that I’m familiar with…

  1. CMOs can’t possibly be creative.
  2. Copywriters aren’t analytical enough for strategy work.
  3. Art directors don’t know a thing about business.
  4. Account planners can’t possibly contribute on the creative side.
  5. Anyone over 40 can’t be trusted to manage social media or digital advertising.

Nonsense. Great ideas can come from anywhere. Writers and art directors pick up a lot of business acumen by listening carefully to clients in a wide variety of business categories. And creativity is not something you lose as you get older.

Being judgmental is so common it’s listed as a personality type on Meyer’s Briggs Type Indicator tests. And it’s so ingrained in American culture you even hear it in post-game interviews… athletes who come in second openly admit that the winner was a “better person.”

No he isn’t. He just performed a little better that one time.

Unfortunately, we judge the quality of the person according to his or her performance. Ironically, we even judge ourselves for being too judgemental.

Blogs are inherently judgemental. The whole idea of an on-line soapbox lends itself to judgmental rants on just about any subject imaginable. I addressed the soapbox syndrome in my very first post, and I’m working hard to make sure this blog doesn’t digress into a petty critique of the latest marketing blunder.

I urge you to do the same. Use good judgement.

Oregon advertising agency blog post on stereotypes

• Don’t let preconceived notions and stereotypes cloud your judgment when it comes to marketing programs.

• Don’t rush to judge someone based on their performance on one day, in one meeting, or on one project. Just because you didn’t like one idea, or one campaign concept, doesn’t mean the team is a failure.

• Make sure you’ve done your homework — your research — before you dive into something. That’s a prerequisite for good judgement.

• Set aside your personal preferences when making decisions about creative execution. Even though you may not personally like orange doesn’t mean it should be eliminated entirely from the brand design guidelines.

• Remember that your creative team is constantly judging  their own work against the best in the business.  And if they’re any good, they’re probably quite hard on themselves.

• And most of all, be open minded to new ideas. Don’t reinforce stereotypes, break them.

Click here for an unbiased, non-judgemental assessment of all your marketing efforts. 

Try this post if you want good judgement when it comes to website design. 

 

a new approach to website design BNBranding

1 How to survive when the economy tanks.

 There’s a lot of economic doom and gloom in the news these days; Unless you’re living in a cave somewhere, you’ve heard about the housing market, the unemployment rate and the rising price of groceries and gas.

For many business owners, it’s frightening. The fortune-teller economists are predicting even more “belt tightening” as the year goes on, and if you let it, all the crummy forecasts might scare you into doing something totally rash. Like nothing at all.

It’s pretty common, actually. When the leading economic indicators start heading south, many business owners go into immediate survival mode. Stop, drop and roll! Duck and cover!

The natural tendency is to adopt a siege mentality and hunker down until “things get better.” So they pull the plug on marketing and branding. Then P.R and charitable giving. Then training and customer service initiatives. They stop doing the things that helped them succeed in the first place.

It’s a strategy of inaction, and it never works. Not in the long run.

Studies of life and death survival struggles prove that action is the antidote for despair. You see it in cancer patients, in soldiers, castaways, mountaineers and disaster victims. Those who let despair take over, sit down and die. Survivors, on the other hand, take action.

Determination and a disciplined, almost clinical approach seem to be the secret. Survivors don’t place blame, make excuses or wallow in self pity. They accept their current circumstances and start working on a solution immediately by setting small, achievable goals. They don’t waste a lot of energy running around in circles, doing things that won’t get them to the goal.

For a climber in the Andes, it meant extricating himself from a crevasse and literally dragging his starving body and shattered leg 10 miles down a glacier. All the way back to camp. For one hiker in the canyonlands of Utah, it meant amputating his own arm with his pocket knife.

Makes surviving a recession seem like a cake walk.

Make no mistake about it, a significant economic downturn can be fatal to a small business. But businesses fail all the time, regardless of what the economy is doing.

The fact is, if you have a clearly defined strategy, and the discipline to stick with it, there’s no reason you can’t do much more than just survive a recession. You can thrive. You can gain ground on the competition. You launch new products and improve your entire operation. The history of American commerce if full of war stories that prove the point.

Post and Kellog’s were battling head-to-head in the breakfast cereal category when the Great Depression hit. W.C. Kellogg plowed ahead, doubled his advertising budget and even introduced the world’s first vitamin-enriched product cereal. Post cut back and Kellogg’s has been the market leader ever since. (Kellogg also cut hours in his plant for three of his shifts and added a fourth, just to spread his payroll among more workers. But that’s another story.)

But forget about the 1930’s. Here are some things you can do, right now, to survive the perfect, economic storm.

1. Use downtime to your advantage. Most managers have so many fires to put out they never get around to long-term strategic thinking. If things are slow, do it! Clarify your objectives and fine-tune your elevator pitch. Revisit your value proposition. Make sure you can communicate your strategy clearly and succinctly. (Few CEOs can.)

2. Get your bearings and refocus your efforts. In the woods, the last thing you want to do is wander around in circles. Same thing in business. Don’t waste precious energy and money chasing business that doesn’t really fit your model. (see item #1)

3. Renegoiate your media contracts. When it comes to print ad space and broadcast spots, you should be able to get a lot more for your money right now. So play hardball. Insist that your advertising salespeople work up innovative new schedules.

4. Get creative. Brainstorm new strategic alliances, sponsorship opportunities or marketing initiatives. Look for ways to leverage your existing partnerships. Do something! And keep this in mind: When times are tough even small initiatives can have a big impact. Because everyone else is sitting around waiting for the rescue helicopters.

5. Recycle one of your favorite, old ad campaigns. A lot of people kill campaigns way too soon, before the public has ever been thoroughly exposed to the messages. So instead of creating a whole new campaign, go through your archives and dust off the advertising that’s worked for you in the past.

6. Spend a little extra time listening to your best customers. Forget about you, and find out what their problems are. Then help devise a solution.

7. Take extra care of your people. They’re reading all the bad news in the paper too, and it’s unsettling. So step up, and be a leader. As the CEO, you have to be an optimist. Because nobody follows a pessimist.

 

 

 

 

 

1 A new approach to website design BNBranding

Getting to the point for better PowerPoint Presentations

BNBranding logoEvery year at the Mac Expo, Steve Jobs used to unveil some fantastic new, game-changing technology from Apple. His presentations were always outstanding, both for the content and for entertainment value.

macbook_air_introFor instance, when he introduced the MacBook air back in 2009, he didn’t just talk about the specs of the new product, he demonstrated its thinness by pulling thin new laptop out of a 9×12 manilla envelope.

That’s great showmanship. And salesmanship.

It wasn’t just passion and natural charisma that made Jobs an effective communicator. It was his ability to convey ideas in simple, concise ways. He used honest demonstrations. Stories. Theater. And yes, some Hollywood special effects.

Not Powerpoint. PowerPoint is the antithesis Apple, the enemy of innovation and the world’s biggest communication crutch.

If you really want better Powerpoint presentations, just go without it!

Some time ago I attended a two-day branding conference down in Austin, Texas. The keynote speaker was a wise old pro who speaks and teaches professionally all across the country. He had an assistant with him, as well as tech support from the conference facility staff.

It was a disaster. Three hours into it and he was still fumbling around with his computer…

Lights on. Lights off. Sound’s way too loud. Sound’s not on. Sound’s out of sync. Slides are out of order. Video won’t play. How many times do we have to look at this guy’s desktop?

For him, a better Powerpoint Presentation would have meant no computer at all.

But to be fair, even if the computer had behaved itself his Powerpoint Presentation still would have fallen flat. Because his ideas were totally scattered. His slides were loaded with text that he read verbatim. And his speech wasn’t really a speech at all.

Thank God, I’m not a middle manager in a big corporation where I’d have to endure daily doses of that crap. Powerpoint, as it’s commonly employed, is a terrible form of communication.

In “The Perfect Pitch,” Jon Steele says, “most presenters start with the slides, and then treat what they are going to say simply as an exercise in linkage. The unfortunate consequence of this is that the presenter is reduced to a supporting role. To all presenters, I say this: YOU are the presentation.”

That’s easy to say if you’re as big as Steve Jobs. But you don’t have to be famous to put on a gripping and persuasive Powerpoint presentation. You just have to change the process and forget about Powerpoint until you’re three-quarters of the way through.

If you want to deliver better powerpoint presentations, think of yourself as a storyteller, not a presenter.

better powerpoint presentations from BNBrandingI’m talking about the old-fashioned, verbal tradition of story telling. Stories are way more compelling than slides. No matter how boring the topic may seem, there’s always a story buried in there somewhere.

So tell the story. Write it down. Flesh it out and practice it before you ever open Powerpoint.

Here’s another way to look at: Concentrate first on how you sound and what you say, then use the software to create visual support for your main verbal points. Not the other way around.

You’ll be amazed how focused your message becomes.

The first rule of communicating is to eliminate confusion.

Make things clear! When you throw a bunch of data up on a slide, you’re not making things more clear, you’re just adding confusion.

AED1345115281_463_work_work_head_image_eepv1aBack in the day, before PowerPoint was ever conceived, corporate presentations were done with slide projectors. You had to send out for slides, way ahead of time!

So you were forced to think long and hard about the design and content of each and every slide.

You had to plan the flow of the presentation. You had to know the most important points and you were forced to boil it down until there was absolutely nothing else left. Then you’d cover the rest of the detials in your speech.

We were forced to be good speakers.

Powerpoint makes it too easy to add slides and overwhelm people with charts and graphs. The technological tool has become a crutch that hobbles great communication. Got an idea? Just jump right into PowerPoint and start creating slides.

Another unfortunate side effect of PowerPoint is lousy, truncated speaking. People think they have to limit their words to fit the slides. And what they. End up with. Is choppy. Confusing. Information. That doesn’t. Flow. Or Communicate. Much of anything.

221.strip

If you write the script first and then use PowerPoint slides as visual aids to drive home the main points, you won’t have that problem. You’ll be speaking from a coherent, human, story-based script, not reading random bullet points right off the slides.

The difference is dramatic.

I suspect that much of the problem stems from the fear of public speaking. And that’s understandable. People with that fear like to hide behind the PowerPoint slides. They can become almost invisible.  But that’s not how you’re going to make a sale, further your career or build a successful business. You have to suck it up, and put yourself out there.

Truth is, if you want to improve your presentations you’re going to have to get comfortable with public speaking.

Join Toastmasters. Watch some YouTube videos and see how the pros do it. Find a good mentor… Salespeople are usually the best at it, so if there’s someone really good at your company offer to be an audience as they practice. Watch, listen, and learn. And forget about mastering all the technical bells and whistles of PowerPoint. That will just distract you from the main objective.

So here’s the final word for better Powerpoint presentations:

If you want people to remember your words, translate them into a picture. Put the picture up on the screen, then speak the words.

Don’t put the written words up there, just to be repeated from your trembling lips. It’s redundant. It’s boring. And it’s unimaginative. Words up on the screen do not make great visual aids.

Steve Jobs didn’t put the words “thinest laptop on the market” up on the screen. He showed us. He demonstrated how thin it was while he talked about the details.

That’s how it’s supposed to be done.

If you need help writing better Powerpoint presentations, give me a call at BNBranding. 541-815-0075.
If you want more on how to be more clear and concise in all your marketing communications, try this post.