Category Archives for "Marketing Management"

Branding the Olympics – leading by example in sports marketing

brand credibility from branding experts

 

In the world of sports marketing one event rises above the competition in terms of branding and worldwide audience appeal… the Olympics.

If you’re thinking of sponsoring a sporting event, signing an athlete as as spokesperson, or marketing your own sporting event, you can learn a lot by studying what the International Olympic Committee does.

Every two years there’s a massive new event to be planned, a venue to be built, and a sub-brand to be designed and marketed.

No other brand in sports marketing can match the symbolic power of those five, multi-colored Olympic rings. One could argue that the Olympics, in fact, is one of the world’s strongest, most meaningful brands. Here’s why:

• Differentiation: The Olympics are dramatically different than any other sporting event.

If you’re marketing any kind of event it better be differentiated from all the other events that are vying for people’s time and attention.

The Masters at Augusta National is different than any other golf tournament. The IronMan Triathalon is different than any other endurance race. LeMans is different than any other car race. And the Olympics are compellingly different:

• More variety.  There’s something for everyone during the two-week span of the Olympics, from mainstream running events and soccer games to exotic, high-adrenalin sports like skeleton and common household games like badminton and table tennis. There’s something uniquely engaging about watching garage games performed at such a high level. Everyone’s played ping pong, but not like they do in the Olympics.

• The Olympics are less commercial than other mega-events like the Superbowl or the soccer World Cup. There’s no on-field branding allowed in the Olympics. Even though they pay hundreds of millions for sponsorship rights, you’ll never see a giant VISA banner hung behind the medals stand at the track, or along the boards in the figure skating arena. And the athletes aren’t plastered with logos, ala-Nascar.

• Authenticity: Branding the Olympics so they mean something beyond just winning.

Five, multi-colored, interlocking rings. That’s the official mark of the games that dates back to 1920. As the Olympic Charter states, the rings “represent the union of the five continents and the meeting of athletes from throughout the world at the Olympic Games.”

That’s the literal interpretation of the Olympic logo. But the brand goes much deeper than that.

Branding firm BNBrandingOlympic competitors take an oath. They swear to uphold the tenets of the Olympic charter and willingly pee in a cup after every event.

They willingly put their own, personal gains aside for two weeks and compete for their countries “in the spirit of friendship and fair play.”

It may seem a little cheesy, a little old fashioned, but that’s a central theme of the Olympic brand. Even though the line between amateur sports and professional sports is now blurred, it’s still relatively pure.

Especially in the winter games. (Even in Canada there can’t be much money in curling.) There are professional track athletes who switch to Bobsled in the winter, just to have a chance at achieving their dream of competing in the Olympics.

The authenticity is obvious in post-event interviews… The athletes are less rehearsed and obviously passionate about their sports, and about the Olympics. You don’t get those canned, banal responses like you do in the NBA or NFL.

At The Games, the Olympic brand always takes precedent over any other type of branding, personal or corporate. So even when you have NHL and NBA stars competing in the Olympics, it’s not about them or their sponsors. It’s about The Games.

You’ll often hear brand managers and consultants talking about “core brand values” and the underlying meaning of great brands. Well, the Olympic Brand means much more than just medal counts and TV ratings. It’s not just winners and losers. It’s national pride and the triumph of the human spirit. It’s the intangible “spirit of the games” that makes it riveting for the audience, and desirable to the corporate world.

The 2012 London games was the most-watched television event in U.S. history. 40 million Americans watched the opening ceremonies, and NBC’s primetime broadcast averaged 31.1 million viewers a night for a total of 219.4 million viewers. Worldwide, the estimated number was 900 million viewers, according to Reuter’s.

At the Rio Games in 2016 342 million people worldwide watched the opening ceremonies.

By comparison, the most-watched Super Bowl was the 2015 match up between the New England Patriots and Seattle Seahawks. That game drew 114.4 million viewers in the U.S., and an estimated 30-50 million internationally.

In the last 20 years the price tag for an Olympic sponsorship has risen dramatically. NBC paid $775 million for the Sochi games alone, $4.38 Billion for the Olympic broadcast rights through 2020.

No other sporting event commands that kind of attention in the corporate marketing world. You could argue it’s the most desirable brand affiliation on earth. Companies are clamoring to hang their hats on those Olympic Rings.

• Brand Credibility:  A gold-medal history of unscripted, authentic storylines of ordinary people.

Ashton Eaton on the brand insight blog bend oregon

Bend, Oregon’s hometown hero, Ashton Eaton. Decathalon Champ dubbed the world’s greatest athlete.

It’s always interesting when superstars like Tom Brady or LeBron James win another championship. But those guys are from another planet.

Olympic athletes, and their stories, are far more relatable and compelling for the average Joe or Mary at home.

At the Olympics you find ordinary people pursuing their favorite sports, not for the hundred million-dollar endorsement deals, but for the pure sense of personal accomplishment.

At The Olympics the narrative remains consistent: National pride. Lifelong dreams of glory. Individual triumph over adversity.

Every night for two weeks there are new characters, new story lines, new scenic backdrops, new drama. It’s heroes and underdogs, great feats of strength and stamina juxtaposed with delicate dance moves and tears of joy.

As the San Jose Mercury News put it, “it’s the ultimate reality show.” And we eat it up. It’s human nature.

But not every Olympic story is positive. There has been plenty of heartbreak and unfortunate mishaps in the Olympics over the years… Terrorism in Munich in 1972. The Soviet boycott of the Los Angeles games in 1984. The Tanya Harding thing in 92. A bomb explosion in Atlanta in 1996.

The 2010 Vancouver Games started with a fatal crash in during luge training. And now, for the first time since World War II, a complete postponement of the Games, thanks to COVID 19.

wbWINTERluge_wideweb__470x325,0But every time the Games suffer a set-back, the Olympic brand bounces back. The brand is perched on such a high pedestal around the world, it’s almost bullet proof.

Here’s an example: In 1995, the IOC awarded Salt Lake City the Winter Games for 2002.  As it turned out, the decision was fixed. IOC members had taken millions of dollars in bribe money. As a result, the top leaders of the Salt Lake Olympic Committee resigned. Ten members of the IOC were expelled and 10 more were sanctioned.

But the Olympics rose above the fray. By the time the Salt Lake Games commenced the scandal was all but forgotten. Organizers actually raised the price of corporate sponsorships 30 percent.

•  Branding The Olympics — how the games remain relevant after more than 100 years.

There have been hundreds of iconic moments in the history of the modern Olympic Games. Jesse Owens winning Gold in Berlin, in 1936, with Hitler in the stands. Micheal Phelps, with 23 gold medals. The U.S. win over Russia in hockey in 1980.

The stories are what keep the games relevant.

I’m a big fan of the Winter Olympics. I got hooked as a boy when Franz Klammer made his infamous, gold medal downhill run at the Innsbruck Games, and I’ve been watching ever since.

Back then, Klammer’s gold medal run in the downhill was the biggest thing in adrenalin sports. But these days, you have  the X Games, all sorts of hair-raising Red Bull events and a constant barrage of edits on YouTube to pull attention away from Olympic sports.

Franz Klammer on the edge of disaster.

The Olympics has adapted, and upped its game to keep pace. They added snowoarding events and freestyle jumping, and wisely cut some of the most boring stuff, like the compulsary figures in ice skating.

No doubt about it, there’s plenty of danger in the Olympics.

Try plunging head first down an icy, serpentine track on a sled, at 70 miles per hour, like they do in the Skeleton competition.

Try throwing a quadruple-twisting triple flip on skis.

But that’s not what draws so many viewers or corporate sponsors year after year. It’s the mix of danger and artistry. The skill of an archer and the brute strength of a weight lifter.  It’s the juxtaposition of a 7-foot basketball player parading in next to a tiny little gymnast. It’s small, African nations contending with the big, powerhouse countries.

That’s why the Olympic brand is what it is.

For more marketing lessons on brand credibility, try this post on the Brand Insight Blog.

 

 

2 polishing your pitch for venture capital

Delivering your elevator pitch to potential investors — Gone in 60 seconds

brand credibility from branding expertsIt didn’t take long to get through the wildcard round at the Bend Venture Conference. Each presenter had exactly 60 seconds to do an elevator pitch. The best short pitch won a chance to do a 10-minute presentation later in the day. The ultimate prize: Hundreds of thousands of dollars  in venture capital.

Nothing tests an entrepreneur like a one-minute limit, and conference co-founder Karen Fast was right there, enforcing the 60-second rule with her wind-up kitchen timer. Low tech, but highly effective.

“Time’s up!”

It was fun to watch.  Presenters really had to hone their pitches down to the bare essence that captured the imagination of the audience.

Plus, they had no PowerPoint slides to use as a crutch. Clearly, some were out of their element. A couple people blew it completely and every presenter was seriously challenged by the brevity of it. Others demonstrated great leadership by telling a succinct and polished story. 

 

 

So here are a few tips for for anyone who’s trying to write an elevator pitch or convey a big idea in a really small amount of time.

• What you say in an elevator pitch is important, but it’s what choose NOT to say that makes all the difference.

The objective of the one-minute pitch isn’t to close the sale, it’s to open your audience up and leave them wanting more. Don’t educate them, just tease them. Withhold some really important bombshells for the next meeting. The real objecitve is to get them to ask the right questions… the easy ones that lead right into your most dramatic points.

• Don’t try to condense your 20-minute slide deck into a one minute elevator pitch.

About half of the wildcard presenters did this… they just cherry-picked what they thought were the most important bullet points from their 10-minute PowerPoint presentations.

But a one-minute elevator pitch is a completely different animal. You need a script that’s conceived, written and honed down specifically for the purpose or dramatizing your big idea in 60 seconds or less.

• Tell your story, starting with the problem and solution.

In radio, 60 seconds is enough time to establish a plot, develop memorable characters and introduce a touch of humor. So you should be able to convey the gist of your business idea in the time allowed.

Great print ads work on a 3 second level, a 30-second level, and a 3-minute level. Your pitch should work the same way, if you have time. In any case, you’ll have to get to the value proposition immediately.

•Whatever you do, don’t start with numbers!

It doesn’t matter that your market is 39 zillion dollars, launching into your pitch with a big number will not differentiate you from all the other presenters. Besides, the stats just won’t resonate with 90% of the people in the audience. You can address the market size later, if you make it to the next round. It’s way more powerful to show how your product will solve one person’s problem.

path to marketing success

• Get the right person up on stage.

A tightly edited script is crucial, but you also need a good, credible pitchman. The best presenters engage the audience with some charisma and deliver the message with passion and clarity. They have just the right balance of bravado and business sense, so they don’t come off sounding like a used car salesman, on one hand, or an engineering geek on the other.

It’s not always the CEO or the person with the most experience. One of the presenters on Friday had a good script, but his demeanor was just too laid back to get people’s attention. Another, who had an impressive track record of start-ups, bumbled it completely.

• Forget about introducing yourself.

You don’t have time to be cordial. In his book, The Art Of The Start, Guy Kawasaki puts it this way: “ Unfortunately, entrepreneurs still believe a pitch is a narrative with an opening chapter that must always be autobiographical.”Don’t talk about yourself or the management team. That can come later. Instead, get to the gist of your idea right away.

• Remember, the voting audience is judging the presentation as well as the idea.

If your business idea has a major WOW factor then you can let the idea carry you. But you still need to verbalize the idea in a compelling way.

For instance, there was a company at the Bend Venture Conference that has potential to cure Malaria. Seriously. Unfortunately, the presenter completely missed it and bored the audience to death. They may have had the biggest big idea of all, but they got beat out on style points.

polishing your pitch for venture capital• Step out of the businessman mode for a minute, and think like an advertising guy.

How would a classic pitchman dramatize your idea in a 30-second spot? Can you demonstrate it? Showing is always more powerful than just telling. Everyone remembers the “Will it Blend” series for Blendtec.

• Don’t underestimate the power of a good, old-fashioned product demonstration.

Guess who won the wildcard round… The one guy who could demonstrate his product right then and there. He showed the audience what his product does, and didn’t waste one second explaining how it does it.

Writing your one-minute pitch is one of the hardest things you’ll do. You have to put aside your businessman hat, and think like an entertainer. It’s not for everyone.

What you show is just as important as what you say.

A lot of presenters rely on lousy stock photos or overly-complicated charts and graphs. But the best presenters had one or two branded visuals that helped cement their idea in the minds of the audience. At a glance.

 

If you want to learn more about how to polish your pitch for venture capital, click here.

If you want to save yourself a lot of pain and agony, dial this number: 541-815-0075.  It doesn’t cost much, but it can pay off big time.

1 branding blog by BNBranding in Bend Oregon

Paralysis by Analysis (How fear and big data can kill great marketing)

BNBranding logoEveryone’s talking about “big data” and how data-driven marketing is the holy grail of marketing. There’s no doubt, big companies have more data to work with than ever before. And that data often contributes to successful marketing initiatives.

But it can also be a drag.

Here’s an analogy:

date-driven marketing post on the brand insight blog

Thanks to new technology, golfers can now get data on every little nuance of the golf swing. Hop on a launch monitor for 30 minutes and you’ll have more swing data than you could ever possibly decifer. And with shot-tracking technology, you can analyze every last shot of every round.

But in golf, over-analysis never produces good results.

If you’re thinking too much about the mechanics of your swing — rethinking the last shot, regripping the club and worrying about the position of the left pinky at the moment of impact — your execution will fall short.

Same thing happens in marketing departments and small businesses.

It’s easy to get paralyzed by all the data that comes along with your long list of marketing tactics.

People get stuck in a rut of over-analysis. They think things to death and worry about all the wrong details. When they finally pull the trigger on something, it doesn’t meet expectations because, perhaps, it was micro-managed.

Which, of course, makes it even harder to pull the trigger the next time.

 

Blame it on fear. Fear, ego and insecurity. Most marketing managers are not operating in corporate cultures that encourage frequent failure. Just the opposite. So they’d rather do nothing than launch a campaign or initiative that might not produce stellar results.

Instead, they bide their time by gathering data, analyzing the situation, planning, second guessing things and making up excuses. For a lot of these people, date-driven marketing is a safety play.

“Well, as soon as we know exactly what the break down is of last quarters numbers and compare those to the previous fiscal year we’ll really know where we’re going. We can’t do anything till then.”

Continued analysis is just a form of procrastination. And procrastination is just fear and insecurity talking.

In small businesses you can’t get away with that for long. And there are times, even in a corporate environment, when you have to trust your gut and  “Just Do It.”

Branding blog on data-driven marketing from BNBranding in Bend Oregon When Nike launched the famous “Just Do It” campaign in 1988, they had no market research data whatsoever. In fact, the top managers at Nike were absolutely anti-research. So the brief given to the advertising agency Weiden & Kennedy was pretty simple:

“We should be proud of our heritage, but we have to grow this brand beyond its purist core. We have to stop talking to ourselves. It’s time to widen the access point.”

Widen it they did!  In “A New Brand World, Scott Bedbury said, “The unique brand positioning of “Just Do It” simultaneously helped us widen and unify a brand that could have easily become fragmented. The more we pushed the dynamic range of the Just Do It commercials the stronger the brand positioning became.”

“Just Do It” will go down in history as one of the most successful and memorable slogans of all time. It cemented Nike’s #1 position in a massive market and became the cultural soundbite of an entire generation of wannabe athletes and weekend warriors.

And they did it without “big data.” No one would have called it a data-driven marketing initiative.

Don’t get me wrong, when it comes to jump-starting the creative process there’s nothing better than a veteran account planner with good research and a brilliant creative brief. But let’s face it, that scenario only applies to one-tenth of one percent of all marketing efforts. Only the biggest brands with big ad agencies can afford that luxury.

Most business owners are only dealing with little bits of data, pieced together from various sources like Survey Monkey, sales meetings and customer comment cards. If they’re operating from a place of fear and insecurity, this piecemeal data is not enough to go on. They’ll always need more. Always hedge their bets saying “we don’t have enough information to go on.”

At some point, they just have to move forward, regardless.

And here’s another type of “data” that constantly sabotages progress: Institutional memory. Managers who have worked somewhere for a long time often say ” we don’t do it that way.” Or “this is how we’ve always done it.” Their institutional memory overrides good new ideas or any insight that might be generated by data-driven marketing.

And how’s that working out?

Insecure marketing managers are often the ones who know, deep down, that they’ve been promoted beyond their level of competence. They’re afraid of being found out, and that fear affects everything they do.

Advertising agency for real estate developersThey fill their teams with clones of themselves and with sub-par talent in order to elevate their own status. They find their way onto teams that are led by other grade C executives, rather than A-grade players. They squelch initiative and kill great ideas at the drop of a hat.

Avoid these people at all costs!

To the insecure over-analyzers I say this:  Pull your head out of the data and Just Do It!

The best way to gather more data is to get something done and then look at the results. At least your missteps and blind alleys can lead to insight about where NOT to go next.

If you do nothing you have nothing to go on. No new data.

One of my favorite sayings applies here: “Action is the antidote for despair.” If you’re stuck, do something besides more analysis and more stewing.  Take action and keep in mind, failure is, ultimately, the key to success.

Creative types— the writers, art directors and designers who execute great ad campaigns — know this intuitively. Getting shot down comes with the territory, and we always have five more good ideas ready to roll. If only the client would just let go and pull the trigger.

So by all means… employ data-driven marketing. Use all the information at your disposal to gleen some insight that will, hopefully, inform your marketing efforts. But don’t expect data-driven marketing to be the panacea. Big data doesn’t replace the need for a big idea.

For more on how to manage your marketing efforts, check out THIS post.

 

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