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MARKETING STRATEGY Archives - Page 2 of 2 - bnbranding
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Category Archives for "MARKETING STRATEGY"

1 Pepsi logo redesign – A new spin on the Pepsi logo.

The Pepsi logo redesign is generating hives of buzz in branding and design circles. It’s not surprising… whenever you start messing around with one of the world’s most recognized commercial icons, people are going to talk.

image_pepsi_newcan1But it’s not like grocery carts are piling up in the beverage isle while soccer moms wax eloquent about the new design aesthetic. The general public could care less. Nope, the initial armchair quarterbacking was limited to graphic design forums and beverage industry trade pubs.

“I love it.”

“I hate it.”

“It looks like the Obama logo.”

“It’s not young enough.”

“It’s static, empty and vaguely bland.”

“It’s demonic brainwashing.”

All the usual responses to a major branding makeover. But now, since the “rationale” for the new logo is circulating on the web, the debate has taken on a viral life of its own.

The 27-page design brief for the Pepsi logo redesign entitled “Breathtaking” reads like a scientific white paper loaded with marketingese and unprecedented levels of highly creative BS. In fact, Fast Company Magazine called it branding lunacy…

“Every page of this document is more ridiculous than the last ending with a pseudo-scientific explanation of how Pepsi’s new branding identity will manifest it’s own gravitational pull.”

The L.A. Times was equally critical:

“Behold, then, the scattered and burning debris field of one of corporate America’s most misbegotten image makeovers… According to the brief, the new Pepsi logo lies along a trajectory of human consciousness that includes in its arc the Vastu Shastra, a 3,000-year-old Hindu architectural guide; Pythagoras (the Golden Section); the Roman architect Vitruvius; the Fibonacci series; Descartes; and Corbusier.”

Oooookay.

(Kinda reminds me of the rationale used to justify an empty blue rectangle for the Nationwide Insurance Logo. But in this case, the design itself isn’t that bad.)

Maybe the controversy is what the design firm, Arnell, had in mind all along. There’s talk of the whole thing being a hoax, that Arnell created the document after the fact just to poke fun at their critics and generate media attention. If that’s the case, the stunt has backfired, big time.

The brief makes Arnell look like corporate bandits, it makes Pepsi look bad for buying into the rationale, and it discredits the entire branding industry. It’s hard enough to get C-level executives to take branding seriously, without this kind of nonsense floating around.

Great design speaks for itself. You don’t need a physics thesis to explain it. It just works.

My 11 year-old daughter likes the new Pepsi logo redesign. (Says it makes her happy.)  And now that I’ve read the exhaustive brief, I know why…

pepsi-happy-facesIt’s a smiley face.

An overanalyzed, underwhelming, million dollar smiley face. It even comes in a variety of grin sizes. (Apparently regular ol’ Pepsi gets a smaller grin than the newer versions of Pepsi, like Pepsi Max. Whatever that is.)

Pepsi’s going to spend more than a billion dollars redoing all their packaging, vending machines, trucks, POP materials and everything else. The new logo’s going to be EVERYWHERE!

So I’m kinda glad Arnell changed the old wavy logo into a smiley face. I’m just not sure about their methods.

For more on corporate rebranding and logo design, try this post. 

BNBranding's Brand Insight Blog

4 The heart of personal branding.

BNBranding logoPersonal branding is a hot topic these days. Seems a lot of people are rethinking their options, reevaluating their skill sets and reinventing themselves completely.

An advertising executive goes back to school and turns to teaching. A mid-level manager becomes a business owner and establishes a new personal brand.  An accomplished professional rebrands himself as a resort-course caddy. The transitions are dramatic.

Career paths don’t follow the comfortable, upward path of our fathers. They zig and zag all over the place, often rising radically for a period of time, only to plateau, fall, and rise again. It’s the natural order of things, these days. Much more natural than the old, corporate model of life-long employment.

In “Re-Imagine,” Tom Peters says the average career will encompass two or three “occupations” and a half dozen or more employers. A job for life is being replaced by a gig for now. Instead of working your way up the ladder you have to leap your way across changing terrain.

personal branding BNBrandingIt’s a free-agent nation and Tom Peters is a good role model.

When Peters wrote his first book he was toiling away in a small, west coast office of the world’s largest consulting firm. His peers didn’t think the project would amount to anything. In fact, they laughed when Peters suggested he keep the royalties on sales over 50,000 copies.

It sold more than six million copies and established Peters as a rock-star among management gurus. Since then, he’s published a dozen books and transformed himself into a multi-million dollar brand. His fee for a keynote speech: $80,000.

Peters has made millions with his speaking engagements, consulting jobs and publishing contracts. He could retire, or rest on his laurels. Instead, he’s reinventing himself yet again as a blogger.

In a recent interview with Seth Godin, Peters said, “No single thing in the last 15 years has been more important, professionally, than blogging. It has changed my perspective, it has changed my intellectual outlook, it’s changed my emotional outlook, it has changed my life.”

For Peters, blogging is much more than just another marketing tool. It’s a new skill that helps keep him sharp, and his personal brand relevant. I like Peters because he’s a bit of a rebel. He’s not afraid to call a spade a spade, he loves branding, he’s a great communicator, and he appreciates the power of good design. Our brands are strikingly similar.

I used to think if I just kept reinventing myself I’d get it right someday. Obviously, I was missing the point. It’s not the outcome that counts, it’s the process of reinvention that bears fruit. There is no right or wrong in the process of reinvention.  As long as you’re learning and growing, it’s all good.

The chapter on branding in  “ReImagine” is a must-read…

“Branding is not about marketing tricks,” Peters said, “it’s about answering a few simple (and impossible) questions…

Who are you?

Why are you here?

How are you unique?

How can you make a dramatic difference”

Bottom line: “Branding is ultimately about nothing more (and nothing less) than Heart.”

Whether it’s a giant corporation or your own personal brand, if it doesn’t have heart, it’s not going to be a successful brand.

Southwest Airlines has heart, and it’s demonstrated humorously on every flight.

Bono has heart, and it comes through in his music.

What is the heart of your personal brand, and how can you demonstrate that in your work?

That’s the crux of personal branding.  If you can define what you’re passionate about and then demonstrate that passion on a regular basis, you’ll have a successful personal brand.

And no matter how many times you reinvent yourself, the heart of your brand will still be true.

BNBranding's Brand Insight Blog

3 1 Tough Mother, 2 marketing objectives: Image advertising AND results

BNBranding logoIt’s an old debate… can image advertising actually move the needle on bottom-line business objectives?  Ad agency execs say yes, of course. But marketing directors, C-level execs and direct response guys are often skeptical.

My humble opinion… absolutely. When it’s done well, “image” advertising certainly can achieve both objectives… move product AND cement the brand identity in popular culture.

There are many great examples of image advertising that has done exactly that…  The Got Milk campaign.  Absolute Vodka. Ipod intro advertising, to name a few.

Here’s a case study from my hometown, Portland, Oregon:

Meet Gert Boyle, the iconic matriarch of Columbia Sportswear.

Gert inherited the family business in 1970 after her husband’s untimely heart attack. At the time, Columbia was generating $650,000 a year in sales, but was teetering on the brink of insolvency. Although the company made a popular line of fishing and hunting apparel, profitability had been a problem for years.

To make matters worse, Neal Boyle had offered three family-owned homes and his life insurance policy as collateral for an SBA loan. The pressure was on.

After the first year Gert seriously considered selling. But when the deal fell apart she dug her heels in, made some tough decisions, and with help from her son Tim, turned the business around. By 1978 they reached $1 million in sales. By 1983, they were up to $12 million.

The first image advertising for Columbia touted the technical aspects of their product and said, “We don’t just design it, we engineer it.”

Ooops. It was a message more suited for the biggest competitors, like Patagonia or North Face, than Columbia.

Columbia’s jackets weren’t the most technical on the market, nor the most fashionable. It wasn’t a brand you’d see on an expedition up Everest or in a popular skiing film, so the engineering angle missed the mark. It was image advertising that didn’t capture the heart of the brand.

Columbia products represented functional practicality, not high-end technical features.

BNBranding use long copy to be authenticTheir jackets sold for half the price of their competitors, and were perfectly suitable for 95% of the population who are outside enthusiasts, but not extremists. The brand was more about braving the Oregon rain than assaulting the seven summits.

So in the fall of 1984, Bill Borders, Wes Perrin and the team at Borders, Perrin & Norrander came up with something completely different.

“All the competitors were doing campaigns with pretty outdoor photos and suitably attractive models,” said Wes Perrin. “Bill wanted to differentiate the brand, and establish more personality.”

At that time, there was a famous campaign running with Frank Purdue, for Purdue Chicken. “We thought we could could do something like that, because we had Gert Boyle,” Perrin said. “She declined at first, but she ended up being great to work with over the next 20 years or so.”

brand advertising columbia sportswearThey portrayed Gert as stubborn, finicky and overprotective. They showed the product and touted benefits, but always in context with a small, family-owned business and Mother Boyle’s strict quality control standards. Nothing gets by her.

As it turned out, Gert embodied everything the Columbia brand is about. She was the most obnoxious, bullheaded, effective pitchman ever, and people loved her.

In her book, Gert said  “The impact of the ads was almost instantaneous. Sales quickly increased, and I was surprised when strangers came up to me on the streets and asked if I was the “Tough Mother.”

“The tall, thin, blonde models in our competitor’s ads may be easier on the eyes, but they don’t care about you like good old Mother Boyle. “The image created in the ads took hold. Instead of seeing us as just another outerwear company, our customers thought of us as the company where the cranky, crotchety old broad made sure they were getting a good product at a fair price.”

Once Gert and Tim realized they had a big hit they turned up the heat, outspending their competitors by a wide margin.

They started running TV spots where Gert used her hapless son as a product-testing guinea pig. She sent him through a car wash, dumped him unconscious on the summit of a mountain. Froze him in the ice and drove over him with a Zamboni. All with the tagline: Tested Tough.

Fun stuff. And spot-on from a branding standpoint.

How to differentiate your company - BNBranding“Our ads set us apart from the corporate pack. People related to us because they believe there is a person at Columbia who really cares. And the best thing about our ads is that they are true. I really do care.” – Gert Boyle.

Authenticity. Differentiation. Credibility. And increased sales. What more could you want from image advertising?

When the campaign launched in 1984, sales were $18 million. By 1990 Columbia hit the $100 million dollar mark. Today they’re the number one outerwear company in the world, doing $2.5 billion a year.

Unfortunately, Gert was absent from the brand advertising for ten years. While the company continued its growth, the advertising lost the edge that Borders had established. Columbia’s website and on-line marketing efforts didn’t have the brand personality of the old Gert Boyle ads, and began to look more like the predictable, stock imagery of all the other brands.

So in 2015, Columbia’s advertising agency brought Gert back for the “Tested Tough” campaign, proving that her appeal stood the test of time.

For more on brand personality and image advertising, try this post. 

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