With the beginning of a new year I thought it timely to suggest my top five marketing New Year resolutions for 2009.
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With the beginning of a new year I thought it timely to suggest my top five marketing New Year resolutions for 2009.
A phrase I hear countless companies say in regard to advertising is, “I know I am wasting half of my marketing budget, the problem is that I don’t know which half!” This is a common dilemma that is directly related to where, when and how you are distributing your brand.
The most common question I’m asked by clients is: where should I be marketing my business to drive results? The funny thing is that the answer is never the same for that particular question. Your tactical advertising plan needs to be in line with your product strong suits. A good rule of thumb is: If your advertisements are annoying to their audience, they are being distributed on the wrong medium.
Ahhh, the holiday season is here. From the exuberant packed malls of ‘Black Friday’ to the hopefulness of New Years, this is traditionally the best time of year for brands and retailers. However the current market uncertainty has frightened the everyday consumer, and scared shoppers are frugal individuals indeed. Essentially every major research agency is projecting the worst retail season in years, and these reports will most likely come to fruition. So am I saying to pack it in? Of course not.
I have previously discussed how important it is for a brand to strive to be different from its competition, not simply “better”. And I just reviewed a case study this morning that bolstered my belief in this principle. The perspective came from Jim Stengel, the former marketing head of Procter and Gamble, when he spoke at the Association of National Advertisers this past month. In his exhortation Stengel described how P&G’s Old Spice product had been stagnant for years, and had been consistently been losing market share to Axe for years.
There are many ways to make a product or brand “cool”, the secret sauce is maintaining a laser focus on your objectives. Know thyself, know thy audience You can ask any marketing executive, “Cool” is a fickle and many times a cruel master. What I have discovered is that the top prerequisite for a brand establishing a sleek public image is to fully understand its target audience.
If you are in the advertising industry, the past few years have offered some great examples of effective branding. I’m talking, of course, about the presidential election and the lessons it has taught the marketing sector. Regardless your political viewpoint, the race between President-elect Obama and Senator Mccain has been a prime illustration of how to establish market dominance. Let’s look back at the race the same way we would review a client case study.
Marketing is a risk intensive endeavor, there is a wide ranging risk vs. reward matrix which can bring even the most innovative experts to their knees. So why am I telling you this? It’s because I want to describe the OAG marketing mechanisms and illustrate how they each minimize risk while simultaneously maximizing the reward.
We are witnessing history right now, the past six consecutive days have seen three digit drops in the dow each day. Because of this I’ve received countless emails from friends asking if we’ve seen a decrease in ad buys, and my answer is: yes AND no. We have seen drops in traditional marketing (tv and radio) and traditional display (CPM banners). However our gross revenues and profit are up by over 30%. How is this possible? Companies are starting to migrate their advertising budgets to performance based campaigns.
I walked with my wife and in-laws this weekend at the Susan G. Komen “Walk for the Cure”. After the walk we were ushered into a parking lot lined up with the walk’s sponsors. Fortune 500 companies such as AT&T and Starbucks along with regional companies. I wanted to talk in this post about the difference between embracing a movement compared to simply throwing money to a cause.