Seeing Is Believing

The previous post should be read twice..Perhaps only because Google technology confounds some of us..

Monetizing Tweeting Tips

Yesterday, the NYT chirped in with their own article profiling the rapid trajectory of Twitter--and this a.m, Claire Miller pontificated in NYT Technology section with a "how is this going to be monetized?.."

What do I think?

1. Aside from the information overload that Twitter is contributing to, the pollutive impact on the intellectual environment, and the fact that I still can't figure out how to have tweets directed to my email, its obvious that everyone should be buying stock in cell phone carriers.

The additional txt messaging charges that are showing up on everyone's bills is going to provide plenty of cash for companies like Verizon and others--probably enough to subsidze the TARP and TALF bail out plans.

2. Sure, advertising is the obvious next layer that Twitter will embrace.

3. Applications? Just like Facebook opened up their architecture for innovative software companies to develop 'plug-in' and add-on apps that they can monetize, I'm betting on the guy that develops a micro-chip that will be imbedded into the brain--the one that transmits and displays to the brain all of the tweets and all of the Facebook 'updates' posted by the hundreds of 'social connects' that are stored in our cell phones.

Tune in.

The Perfect Product Spokesman...

Tough times call for tough measures. And when it comes to pitching a product in tough times, you need to plant your tongue firmly inside your cheek. Humor does sell.. After all, I recalled this enough to want to share it!

The Daily Show With Jon Stewart	M - Th 11p / 10c
Back in Black - Recession Winners
comedycentral.com
Daily Show Full Episodes Important Things w/ Demetri Martin Political Humor

The Next Google...

We were one of the first to Google back in the day, and we're thinking that Kosmix, a new friendlier search tool, is going to become just as powerful and popular. We've been prescient before. Click on the image and try it out yourself!

Tweeting Not Just For Twits

We said this before--those that still subscribe to stodgy marketing/communication strategies are going to be left in the dust as more proactive and prescient promoters embrace technologies that are gaining traction faster than a speeding bullet.

After canvassing a select number of top-gun execs representing a broad spectrum of businesses, from media to merchandising, to traditional manufacturing--several have acknowledged they've been slow to adapt, but are now shifting into high gear and rapidly implementing new communication strategies.

We're on board and have taken the same steps.. and testing out a media campaign to promote a creative entertainment practice, so stay tuned to hear about our own results.

In the interim: here's an excerpt from a WSJ article that profiles financial service enterprises that are beginning to "get it":



At a time when our president refuses to relinquish his BlackBerry, and CEOs twitter their companies' news, it was bound to happen: Your fund manager wants to be your Facebook friend.

Whether you "accept" or "ignore," you'd better get used to it: Fund companies, asset managers and brokerage firms are starting to embrace so-called Web 2.0 strategies -- social networking, podcasting, interactivity. California-based asset manager Pimco has a Facebook page (and 65 "fans"). Charles Schwab Corp. has developed a Web site specifically for younger investors and advertises it via Internet TV channels. Vanguard Group is podcasting, and earlier this year, Fidelity Investments revamped its Web site to highlight resources and tools more than funds and brokerage products.

After years of ignoring Generations X and Y in favor of their wealthier baby-boomer parents, firms are starting to shift some of their attention to people under 40. And it's a market that's relatively easy to reach. The cost of establishing a presence on Facebook, recording a podcast or posting an investing video on YouTube is negligible, if not completely free. But it's going to take more than a friend request to woo Gen X and Gen Y, says Anurag Heda of financial-services consulting group Kasina. As a group, younger investors prefer to cull information from different sources, rather than relying on a single expert.

Marketing, Communications and The (Financial) Media

We couldn't resist...If you don't have a sense of humor, what do you have?
Marketing, Communications and The Media...

The Daily Show With Jon StewartM - Th 11p / 10c

CNBC Gives Financial Advice

Daily Show Full Episodes
Important Things With Demetri Martin

Political Humor
Joke of the Day

Product Placement: Its Just Infotainment

While screenwriters, TV writers and other "ethical artists" have been balking at the notion of incorporating subliminal and not-so subliminal product placement ads and messages into scripts, Gail Collins from the New York Times opines today on whether that war is worth waging at all.

Especially when wages (and ad revenue) is so hard to come by in this new period of economic reflection. I was actually intrigued by Gail's take on on the topic (click the link to read her column), but...

My opinion? Am I insulted when I see a Starbucks coffee cup sitting in front of a news anchorperson? Or does it bother me that the producers of Boston Legal are getting paid for William Shatner to pitch Viagra?

Nah! Its all fair and fun, and it doesn't lead me to say "How could they do something as unethical as pitch a product on the news or within the script of a favorite TV show??"

Next question: Does it influence me to buy the product that's subliminally promoted? Nah. Not yet anyway. But, I'm a lousy shopper, especially these days.

Last question: Will these types of product placements have a negative impact on the brand?
I'll leave that to the rocket scientists that analyze consumer behavior. My guess is the answer is "no". I'm actually waiting for some pharmaceutical company to invent a pill that triggers visuals of certain products when the brain sends a mood change message.

Capturing Eyeballs: Stimulus Packages For Shock and Awe

Do I have your attention? You bet I do.

And, if you're like 95% of those that we canvassed, you're going to look at both of these photos for at least 45 seconds. (photo credits to Ed Cameron at Air New Zealand and to FeelUnique.com) And you're going to tell at least two people to come to this blog and take a look.

The eyeball catching strategies aren't necessarily new. But they are fun.
And, they're extremely low cost to implement. (Shaving cream and a razor cost $2/person, and you can hire human billboards for as little as a slice of pizza)
And, they create buzz.
And, the recall rates jump off the charts.


The full story is courtesy of the Feb 17 edition of the NY Times...Good coverage credit belongs to NYT Advertising columnist Andy Newman

What Advertising Vehicle Really Works Best?

As advertisers carry on the debate over the next great marketing medium, a study released by the Advertising Specialty Institute found that it's not TV, print or radio that is grabbing customers attention the best; but promotional items.

One of the riveting results of the survey-- the cost basis for eye-ball catching, long-lasting (durable), utility-centric premiums is as low as 4/10 of a penny.

Not a $40 CPM, not a $4 CPM, not a $.40 CPM... but a fraction of a penny...

And, prescient pundits that we are, merely a month ago, we profiled a brilliant premium idea; the Laptop Cabana from MGS Brands



The ASI survey asked 600 participants (mostly over the age of 21) to recall promotional items received over the last 12 months and their effect on their purchasing habits. Key points raised by the study were:

• 8/10 respondents remembered a brand based on a product they had received.
• 24% said that they were more likely to do business with an advertiser based on items they receive
• Nearly 2/3 indicated they had done business with an advertiser after receiving a promotional gift.
• 80% of promotional items were kept as they were considered useful.

These statistics concluded that marketers get a more favorable return on investment from CPI, significant recollection amongst those who received promotional gifts, and improved purpose amongst recipients to make purchases from the promoter.

Crisis Management: When All Else is Failing (?)

We don't often copy and paste private emails, but somehow this wound up in the wrong blackberry. We can't verify whether its real or not, but gee whiz...since it seems like every IR expert across the country has been laid off by their corporate employers, maybe there's something to the approach below?


NEWS ALERT from The Wall Street Journal

The White House's nominee for director of the CIA, Leon Panetta, has earned more than $700,000 in speaking and consulting fees since the beginning of 2008, with some of the payments coming from troubled banks and an investment firm that owns companies that do business with federal national security agencies. Panetta is set to appear before the Senate Intelligence Committee on Thursday about his nomination.

FROM: The Office of The President of The United States

TO:Mr. Mark Murph, CEO LeadershipIQ

Dear Mr. Murphy-

As you can see from yet the latest news story profiling the blunders being made by my SVP of HR, I've decided to fire my current HR director and I'm hoping that you'd be interested in the job?

I thought at first it might have been the job application forms that were being used, but I discovered this morning that nobody was actually even looking at the forms. Probably because we had brought some people over from the SEC to help with the vetting process and review the documents. I'm correcting that issue too; we've offered Harry Markopolos the job of overseeing Mary Shapiro over at SEC.

The good news is that your salary will be capped at $400k, the bad news is we might have to do what my good friend Governor Arnold out in Cali did--i.e. hold off weekly paychecks until the dust clears.

But, you'll have the use of a car and driver, which has been donated to the White House by Tom Daschle. Apparently, just three days before I arrived, auditors here determined that the US Government was actually bankrupt.

Making matters worse, Hank Paulson left here with the keys to not only the executive washroom, but also the keys to the US Mint. So, we're getting by on donations for the time being. Tim G. says he's getting a copy of the key to Mint made just as soon as his Ace Hardware credit card account gets cleared up. If Geithner can't get the problem resolved, I might be forced to bring in Bernie Madoff to raise some short term cash, but I'd need a new HR director to make that decision.

Yes, we've got some serious problems on the HR side of the equation. I need you to help address them. The good news is that morale here is high, its just that the people we've hired, or are trying to hire, are a bit light-headed when it comes to judgment skills.

It might be because the entire White House staff, including the Treasury team had tuned into that CNBC special last week about the marijuana industry...and I'm thinking some of it went to their head, literally. I'm hearing Rachel Maddow is starting to use phrases like "Foggy Heads living in Foggy Bottom " --and if she goes on air with that..well, it could be a national security issue.

And if O'Reilly over at FOX gets wind of this, I might have to reconsider the decision to close Guantanamo Bay and get him a room there.

I've included my blackberry contact info. Only four other people in the world have it. That should illustrate how important it is that I hear from you soon.

Short of getting you to join the team, my only other option is to invade Pakistan, which would serve as a good short-term distraction about what's going on here, but even with oil down at $43 a barrell, Hilary's Mobil card wouldn't cover more than one full tank of gas for the battleship we'd want to sail over there.

Your's truly,

President Barack H. Obama

Never Miss a Chance to Have Sex or Appear on Television

Courtesy of novelist, screenwriter, politician and modern day philosopher Gore Vidal....and for those that are questioning or pondering the strategies that are being proposed by your PR and IR wizards.

Or those that are scratching your heads about the most recent posting here..
:)

Marketing & Comm: Brandishing Your Brand

Rule 201 Brandishing Your Brand..

Every 'spinmeister' will have a different opinion when it comes to the best way to execute what's otherwise known as a 'stunt'.

You've created buzz, and along the way, you've created suspense around the buzz. You've got thousands of people on the edge of their seats. But, unlike a TV melodrama that plays once a week; your story is being broadcast 2x a day. So you need to have that much more horse power in the engine.

But the gas only lasts so long. So you go for the electric shock as a booster. That's fine. Its in every PR playbook.

Here's a tip: Don't do it unless you have a plan for the "post-electric shock" phase.

PR Positioning via Positive Messages

PR pundits pride themselves on being able to spin a client's value proposition.

The fact is, the best 'spin' isn't spin, its really about positioning a client that has a real value proposition.

Especially when targeting an 'institutional' audience; ones that are not only a bit cynical, but are actually pretty smart and contrary to what most PR spinners think, can actually read between the lines when it comes to IR and PR pieces. They get put off by crafty , "infotorials", and embrace articles that demonstrate objectivity--and most importantly, the underlying integrity of the topic of the piece.

We've actually received lots of kudos about a 'piece' prepared for a very solid client. Click on the title link and make your own decision!

Social Networking & Financial Services

Speaking of Institutional Investor; their flagship print publication, which comes out once every two months, allocated a page in the current edition to a topic that we've been espousing since we started blogging here a few years ago; using digital social networking applications as a means to enhance their respective brands, and connect more closely with their clients.

Here's the first two paragaphs of the article...
Financial services companies are getting personal. They are adopting the techniques of social networking — blogs, online forums and chatrooms more commonly associated with trendy virtual communities like Facebook and MySpace — to engage and communicate with their (generally younger) customers and come up with new product and marketing ideas.

An October report by Corporate Insight, a New York–based research firm that tracks financial industry services and strategies, indicates just how rapidly social networking has been spreading through the once-stodgy world of finance. In spring 2007 there were just a smattering of blogs and other interactive features, often lumped under the Web 2.0 rubic...now, 11 of 70 companies polled in the study have incorporated social media into their Internet platforms, and 70% operate "online communities serving self-directed investors or small-business owners.... ..Some firms have also started usings blogs and forums to serve clients and prospects alike.."

For those with half empty glasses, 1 out of 7 might not be a trend worth following. But when learning that Charles Schwab increased its Gen X client base by a whopping 32% as a result of feedback garnered via its online blog research, that makes the stodgy financial marketers wish they had cleaned off their glasses when this blogger was pounding the tables on the topic as recently as last year.

Yes..for a financial services firm, on-line applications that facilitate open communication between customers and between customer support staff presents a variety of compliance issues.

But one would think that a 32% increase in customer accounts might be worth throwing a dozen or two bodies at the opportunity. We'd be happy to lend a hand or some guidance to those financial service firms that think out of the box.

Dealing With The Press: Double Edge Sword & Dancing With Edward Scissorhands

For anyone that chooses, or is obligated to speak to media reporters, there's a common misconception when telling certain reporters that what you are saying is "off the record"and that it will actually be kept off the record.

Even when there's an exchange of email correspondences in which the reporter agrees to keep it off the record, and/or to not mention you as the source. Dancing with reporters is about as tricky as dancing with Edward Scissorshands. Instead of a two-step, it can become a double-cross.

Sure, you want to help get a 'story' out there, and you want your 'slant' to be incorporated--but you'd rather not have your name mentioned.

When you do that, don't forget that reporters are more determined to have their slant dominate the article. So, the odds are high that anything you say will be taken out of context. Sometimes the reporter does that intentionally; that's called muckracking. Sometimes the reporter does it because you have too much to say, and they decide which comments are most relevant or most poignant.

Most reporters honor the protocol of "off the record". Some get confused.

For example, NYT's Joe Nocera is finding himself in a bit of conundrum in his coverage of Steve Jobs, as evidenced in recent columns that he's written, including his mention of "off the record" comments that Jobs made with regard to his health. Dicey stuff. Both for Jobs, one of the most prominent CEO's in the world, and for Nocera.

Some reporters blatantly violate the code of honor regarding "off the record".

Case in point, a publication called Wall Street Letter. One of their reporters was 'tipped' via email about a story, and through great perseverance, the reporter actually identified the source, including phone #, and followed up to solicit a comment from the tipster.

In the telephone call with the source, and subsequent email exchanges, the reporter (Alexandra "Allie" Zendrian) acknowledged and agreed to keep the 'source' name out of the story. The next day, the publication ran a story that was not only completely out of context, but in addition to identifying the source's name and company, the reporter actually wrote, " when asked, [source] had no comment..."

What the source had actually said to the reporter was, "I won't comment on the record, and I won't engage in a conversation and share with you the tidbits if you publish my name.." The reporter agreed to the terms of engagement, and documented that agreement in a follow up email.

The most telling part of the story was when the tipster discovered the article online and sent an email to the reporter, as well as the senior editor and the publisher in an effort to extract a explanation for the 'outting'. Executives at Wall Street Letter had no comment..

In this case, it wasn't a "disaster" for the tipster, and some would say 'any news is good news' when you're trying to get a mention in the media. The particular publication is not widely read, and given the state of Wall Street, its fair to guess that their paid subscriber base and readership (securities industry traders and brokers) is down to a few hundred people. And few of their readers know, or actually care about the source being "outted".


PR/IR and Marcomm Rules to Remember:

Rule 1. Unless you have an existing relationship with a specific reporter, or have otherwise been given to understand they are generally honorable, be circumspect about what you say to them.

Rule 2. If executing a "guerrila"PR or IR tactic via emails to reporters as a means of stimulating interest in a story, but don't want to be identified as the 'tipster', don't use an email address that can be easily traced back to you.

For example, if you've previously published a document on the internet that incorporates your email address (a resume for example), your email address can be easily Googled, and in turn, your identity is easily unmasked. Even if you think you've removed the document from the internet. Once its up there, it stays up there.

That said, we know that even the very best Marcomm Gurus forget some of the basic rules of engagement. This 'case study' should help remind you not to forget.

Poll Says: 65% of Senior Execs Don't Know Internet Metrics

Almost astounding. We informally polled 100+ senior execs (encompassingCEO, CMO EVP Sales; EVP/IR; and EVP Communications) and 65% of them told us that "really didn't know" the data points with regard to their company's online strategy

Little things (not); like: search and visitor metrics with respect to their company's corporate website, or their on sales site.
i. most visited day(s) of the week
ii. most visited hours on each day
iii. the daily/hourly frequency of online searches i.e specific phrases, or words.
iv. most popular key words that drive traffic to their site(s).

Without knowing the above (and other) data points, how can you justify your online ad spending and related "sales/marketing/awareness" campaign strategies?

Without this data, how can you know that your sales people are actually missing critical sales opportunities?

Without this data, how can you have a true grasp and understanding of who your customers are?

Basic stuff, right? 65% couldn't answer the questions. This is the exactly the wrong time not to be able to answer those questions.

Trifecta Win: Click, Brick and Free Booze

I'm raising my glass to Jason Fried and Seva Granik, two innovative guys that are cashing in (relatively speaking) on a great concept for this this period of "economic reflection." (Yes, this is a phrase that we've coined, but won't trademark--we'll make it available to anyone that wants to use it).

A website with alert messages that keeps an ongoing list of establishments offering 'free drinks".
This appeals to just about every "hot button":

1. Combines click and brick portability
2. The perfect DMA
3. Social Networking
4. Compelling content
5. Perfect for Sponsors
6. Free Drinks

I'm lovin' this! Cheers!

Branding (and Marketing) Strategies for 2009

For most marketers and branders, 2008 was the year that sucked. No matter how creative you tried to be, no matter how innovative you thought your campaigns were, your sales plummeted.

Blame it on malaise, blame it on the fastest falling economy in a century. That was before your grandfather was born. Get over it. 2009 isn't gong to be any easier, and you'll need to be sharper and more focused, and more flexible than you would have ever thought possible.

And in all due respect to those that say "Oh Gee, You Must have an MBA to run our marketing and advertising!!"... I say, Good luck. What's going on in today's economy isn't something that professors at graduate school have any experience in....whether marketing, branding, advertising, finance, or human talent management.

OK..here's my thought on branding, advertising (and marketing) strategies for '09:

Disregard what I might have said earlier about negative advertising, and otherwise dissing or exploiting your competition. We're heading into a take-the-gloves off battle for the purse strings.. There's only one survivor. And, as mentioned in the week before last in the WSJ, the following strategies are fair game:

Brand Extensions;
i. Compatible Products. Come up with something that complements and existing branded product. Think iPod.

ii. Ornamental Use of Trademarks. Go on to Google to find out what you can do without infringing, but otherwise exploiting a recognized logo.

iii. Comparative Advertising. My favorite (when you can actually come up with strong arguments i.e. why your product is better (because its less expensive, it works better, it tastes better, it lasts longer, or smarter people prefer it...pick one, or pick 'em all)

Hint-be careful. I did a comparative ad pitting Soapopular's alcohol-free hand sanitizer against the incumbent, sticky, smelly and irritating Purell brand. The ad headline said "Purell=Alcohol Poisoning".. and the follow up text simply said : Soapopular. So Popular because its Alcohol-Free."

[My justification was a 2007 report issued by the US Association of Poison Control Centers that found close to 12,000 cases of alcohol poisoning in kids 6 and under directly attributed to alcohol based hand sanitizers. Pretty straight forward.

Johnson & Johnson had their lawyer send my client a harsh 'cease and desist" letter. Instead of defending the ad, and telling J&J to take a walk, my client thought it better not to pinch a sleeping elephant, although we all knew that the publicity alone of a legal battle would have been worth millions in free advertising. ]

While there is no 'fact' i.e. who is right and who is wrong on this particular topic, and 'fair-use doctrines can be argued until hell freezes over, but the fact is, that wimps aren't going to be winning in '09.

Parody Advertising: Using another brand to promote a non-competing product. Case in point: Coors beer commercial spoofing the Energizer Bunny. Coors didn't pay a dime to use the Bunny. As long as you don't tarnish or denegrate the brand that you are parodying, and stay creative, you can get lots of frequent flier mileage .

Outlandish: The photo image above right was inserted into an online ad strategy this year and in less than 6 hours, it scored 10,000 unique hits--that means 10,000 people clicked it on and went to the company's website. I 'm not at liberty to disclose how much was generated in sales for the product.

Today's WSJ included a story about a Russian Ph.d who, in 1976, predicted the fall of communism, and he's apparently now getting more than a little traction predicting the end of capitalism in the US. (click on the aforementioned link).. Actually, he's predicting the end of the US as we know it. (I could have told you that we'd have a few rough years ahead, but this guy has something much more profound in mind..)

This very learned fellow is suggesting that before the end of 2010, the US will have endured a civil war, resulting in three separate unions within our border. If that ends up proving true, than following my push-the-envelope marketing, branding and advertising advice in 2009 will have proven to be that much smarter of an idea. And, if this Russian Dr. Strangelove is wrong about his dire predictions, you'll have merely set yourself apart and established the foundation for flexible thinking.

Forget about the 'thinking out of the box". Tell yourself there is no box.

More to follow as the new year rolls in.

Sex Sells (but a Commitment Can Help)

Haven't we all wondered whether sexy ads (whether Brooke Shields in those tight jeans, the Victoria Secret's TV ads, or even the six-pack Joe with a six pack biceps ) actually enhance top line sales?

Sure, there are little quants running around the advertising industry that will show reams of stats that either support or refute the impact of certain types of ads. For purposes of of my own opinion on the topic, I'll stay in Switzerland...but for lack of anything more newsworthy on the topic of advertising, I'll defer to today's G-rated NYT article courtesy of Alex Mindlin

"..Sex in advertising is generally thought to be more useful in selling to men than to women. But a study soon to be published in The Journal of Consumer Research finds that this effect is reversed when emotional intimacy justifies the sex.

In one experiment, the researchers found that women preferred a sexually explicit watch advertisement when the watch had a bow around it and was described as “a gift from a man to the special woman in his life.” But such positioning hurt the ad’s appeal to men. Drawing on previous research in sexual psychology, the authors note that women are more likely to “need the justification of relationship commitment for sexual behavior” and that men “typically felt quite uneasy about having to part with substantial pecuniary resources in a dating context.”

In another experiment, researchers had women proofread blocks of text (supposedly as part of a separate study), then rate a sexually explicit ad. Women who read about a loving, committed couple rated the ad more highly than did women who read about a couple in which the man was disloyal and philandering..."

My Last Word on Hedge Fund Marketing: Case Study Fairfield Greenwich Group

Some of you know that I spent more than 15 minutes on Wall Street--actually more than 15 years.

Starting as a trader, I burnt out (truth be told, more like 'flammed out') and re-purposed myself as an operating executive, than as a risk manager, and for the past few years, I've leveraged all of those experiences and now I'm a sought after marketing guru that's been enlisted to position companies and help them craft their value proposition statements.

Having worn the hat of 'marketing exec' for several different regulated, financial firms, including the world's largest bank, I'm particularly sensitive (as were all of my partners/employers) insofar as what you say you do, and what you put in writing that you do.

And when you put it on the internet, you might as well cast it in stone for all eternity. Just like emails, just like press releases, and most other digital foot and finger prints that can come back to haunt.

Case study: a little known firm in Greenwich CT called Fairfield Greenwich Group, their website suggests there about 10-12 partners, but they seem to have lots of money under management; 15 billion according to their marketing poop. Their entities are comprised of a registered broker/dealer-which means they're regulated by amongst others something called the "SEC".

As in "Yes, I See. ..that you've violated all kinds of regs, but don't worry, we'll let it pass...do you think you have a job opening for me?")

What's my point?? Fairfield Greenwich's website actually has extremely comprehensive text displaying the very detailed, almost microscopic auditing they purportedly do on a weekly basis of the fund managers they invest in. Including auditing brokerage statements and analyzing the transactions displayed in those statements.

Here's the link to that page. Click it now before they remove it from their website

(There's another link below that you'll want to go to as well; authored by friend and well-known author and film maker Michael Covel. )

But-
Rule 1. Never.. and I mean absolutely NEVER put that kind of stuff on a website. Many website experts even suggest "DO NOT PUT EXECUTIVE PROFILES ON WEBSITE". I'm not sure that I agree with the latter, but in this case, the excruciatingly detailed 'due diligence representations made by this regulated company are almost certain to get them tarred, feathered and embroiled in litigation for the next ten years.

Fairfield Greenwich probably won't survive the litigation, at least their corporate shells won't. The principals in this case will, regrettably for many, likely enjoy the fruits of the fees they've been paid ($500 million!) for years to come while the lawyers dicker about, and while the victims watch any remaining assets be dickered over by the "many experts" that will be retained to sift through the ashes.


Oh--for those that think its unwise or unprofessional for a marketing consultant that has clients from within the financial industry to lambast a firm from within the industry on a blog...I call 'em the way I see 'em.

Here's the link to Michael Covel's comments. Similar observations have been made, but Michael's presentation is perfectly black and white. CLICK HERE TO READ

My last word on Madoff. Actually, it appears to be Madoff's last words, or that of a creative blogger that has a unique perspective on the Madoff fraud. Click here.

Financial Firm Marketing Strategies: Madoff

As of this posting, there have been more than 5000 news stories and blog comments, but since I'm connected to one of the several hundred individual investors that were victimized, the tell-tale signs of something awry were as plain as the nose on anyone's face.

Since 2001, the marketing strategies used by Madoff were lampooned by at least two different forensic accounting firms enlisted by the very very few that were responsible enough to hire a third-party expert before proceeding with investing. Based on those reports, those particular prospective investors walked away. Two of them ran away. And those reports were ultimately circulated throughout the hedge fund industry.

1. the only 5 people with access to the firm's financial records were immediate family members, all with the name Madoff
2. the auditing firm that published the firm's statements was a 2-man office in the suburbs of NY.
3. If one asked too many questions, they were not allowed to invest.
4. Professional hedge funds, that employ mathematicians with knowledge of the purported strategies used, repeatedly stated the those strategies simply couldn't produce the types of returns promoted by Madoff.

For a successful fraud or Ponzi scheme to work, you only need one element: Greedy Investors. Those that put their entire net worth with a firm that claimed to engage in stock and option trading during a period of historic market volatility, but somehow managed to produce consistent 10 percent returns and pay out the same amounts on a monthly basis, despite a 40% decline in the stock market were delusional and greedy.
Of course, shame on the SEC for violating their own mandates and failing to examine the firms records for the past two years.

Yes, shame on the "advisors" that put their clients money into this firm and had failed to hire a third party auditing firm in advance; and shame on the third party auditors that failed to come to the same conclusion as the two auditors that distributed their "red flag" findings to the industry at large several years ago. Those that breached their fiduciary responsbilities should be held accountable. Too bad that their E&O coverage was written by AIG.

The hedge fund industry at large has prided itself on marketing strategies that otherwise incorporate phrases such as secrecy, special, select, proprietary, cannot be disclosed.

Amazingly, those marketing strategies will continue to work, as long as greed remains a primary motivator.

Layoffs and the Impact on Marketing and Branding--New Study Says It All

For those marketing, sales, investor relations, or brand management executives, if this study doesn't resonate with you, nothing will.

Leadership IQ Study: Don’t Expect Layoff Survivors To Be Grateful
WASHINGTON, D.C. – December 10, 2008 – If your company is undertaking a layoff, be forewarned: Your surviving employees are not going to work harder out of gratitude. According to a new study by Leadership IQ, 74% of employees who kept their job amidst a corporate layoff say their own productivity has declined since the layoff. And 69% say the quality of their company’s product or service has declined since the layoffs.

Leadership IQ, a leadership research and training company, compiled these results after surveying 4,172 workers who remain employed following a corporate layoff. These subjects were drawn from 318 companies that have undertaken layoffs in the past 6 months. Employees were asked questions about productivity, product quality, workforce issues and management effectiveness.
Other key study findings about the state of the workplace following the layoffs include:
• 87% of surviving workers say they are less likely to recommend their organization as a good place to work
• 64% of surviving workers say the productivity of their colleagues has also declined.
• 81% of surviving workers say the service that customers receive has declined.
• 77% of surviving workers say they see more errors and mistakes being made.
• 61% of surviving workers say they believe their company’s future prospects are worse.

According to the group that did the survey, there are actually ways to address these issues so that your brand doesn't implode altogether while you slice away your most important assets. Don't ask us, call them; they're the experts.

Or tune in to Fox Business "Money For Breakfast" at 8 am Thursday Dec 11 and you can watch and listen live.

Innovative Thinking : Premiums That Sell.- Introducing the Laptop Cabana

We may be tipping their hands, but its already patent pending--so hats off to MGS Brands of Fairfield, CT for creating a very compelling way for corporate brands to extend their message.

We all know that premium merchandise is a low cost vehicle for marketing, branding and advertising...and what better time than to introduce a particularly inexpensive, and uniquely utilitarian device?

They call it the Laptop Cabana. Blocks the piercing sun and the peering eyes. (The fabric on the inside is actually a completely sun-blocking vinyl)

Can you see your corporate logo on the outside, a family of design styles?
Less than three steps required to attach and dis-assemble, washable, portable and compatible. Totes and umbrellas and ball caps are so yesterday. This cute little laptop awning will be attracting eyeballs everywhere that you see someone using a laptop computer: campus libraries, airports, airplanes, trains, every Starbucks in the world. Need I count the ways and the places?

Those corporate brand experts that are interested should contact the people at MGS directly (Click on the headline link to get to their website).

Run on the Bank's Brand: What Not To Do.

Ouch. At the obvious risk of turning away potential clients that are put off by vulgarism, we can’t hold punches. The marketing and communication strategies that one particular bank is implementing will go down in history as a text book example of a continuous, across-the board failure to be PROACTIVE and anticipatory about the impact of critical decisions.

1. Like every other bank, this one's rocket scientists, and MBA wearing, algorothimic geniuses somehow failed to anticipate the potential change in market environments, explaining their overweighted holdings in funky fixed income assets. And, before I continue, let me apologize to the rocket scientists at that bank who had presciently raised the unheeded warning flags directed to the former and current executive management. And, pardon me for saying so to the Chairman of this behemoth bank, but being in the same camp as Alan Greenspan insofar as pointing to the fuzzy nature of predictive science, isn’t a posture that anybody wants to embrace.

Here’s the point. Two weeks ago, the bank's marketing communications staff initiated a punch out program laying the ground work for across the board interest rates hikes in consumer and business credit cards. The ‘message’ was that the bank would be increasing borrowing on credit cards by 2%-3%.

Lo and and behold, I got my notification today. And what an eye-opener!

My interest rate was upped from 7% to 14.99% on two different cards, a whopping 100% increase in my interest rate, with an aggregate balance of $30,000, and a credit limit of $50,000..which was actually increased only two weeks ago, according to a special thank you email from the bank telling me what a great customer I am.

I’ve been a card holder for 20 years, and I have an 800+ credit score. I’ve never once missed a payment. Yet, I’m being asked to shore up the company's balance sheet, notwithstanding the fact that they’ve got access to hundreds of $billions of Fed money at a rate of 2%.

Raising my credit limit and two weeks later, doubling my interest rate smacks of predatory lending, but at least I'm smart enough to know that the borrowing ball is the wrong dance to be attending. And, we all know that as the litigation against banks and brokerages pick up, the line will be longer than the unemployment lines at GM.

OK. Shit happens. More important: anyone and everyone that takes on debt should understand there’s no free lunch. And so what if the country's top bank is getting a couple of hundred billion of bailout funding..(did the news report say $350 Billion??)from Uncle Sam and Uncle Hank (Paulson), and apparently, without any strings attached..i.e. without making sure that the bank actually makes money available to consumers and business borrowers to keep the wheels of capitalism turning.

Here’s the point i.e brand and marketing messages when a company is in crisis mode; so its a point that should be appreciated by a large majority of businesses, of all sizes.

1. Just like the gurus at the bank either failed to understand, or purposefully chose to ignore risk projections, the same morons are failing to understand that by increasing the cost of loan terms to their best customers, without having any programs in place to appease or address the tens of thousands of exceptions; those that have always paid on time and in full, they are destroying their brand faster than a speeding bullet.

I’m going to be one of those that says “not too big to fail”, and I’m going to tell my credit card issuing bank to take their credit balance and eat it. After all, my tax dollars, and most likely, my future social security entitlements are however indirectly, being used to bail this bank out today.

My guess is that no less than 50,000 of their several million customers will be doing the same over the next six months. That’s $1.25 billion in charge offs, another several billion in write downs i.e. projected interest income, and billions more lost in fees from those that stopped using the bank's brand credit card.

Now lets talk about a topic I raised several days ago; the impact on the brand when a company executes a layoff program as if they were an Appalachian abortionist. Again, I apologize if the phraseology is offensive.

The bank has announced unprecedented, across the board layoffs. Last week, as a professional courtesy, I emailed the six top HR managers at the bank and informed them of a great, and free webinar hosted by LeadershipIQ Guru Mark Murphy on the topic of how to manage layoffs with compassion, and without crushing the enterprise.

Those six individuals rec'd the email, but they were too busy firing people to pay attention to learn how to do it properly, and how to preserve whatever might be left, or so it seems.

How do I know this? In my communication with the 'customer service' staff and trying to understand how my rates could have literally doubled, the nice young girl on the phone broke down in tears and said she was "overwhelmed with hundreds of calls from people all asking why, when interest rates are going down, and the bank has been infused with how many tens of billions, could they be putting their best borrowers out in the rain?."

The young lady said "well the prime rate is going from six percent to nine percent this week, so we have to increase our rates.." The prime rate is actually at around 4%, so I could tell she wasn't particularly well-equipped to address my issue. So I switched the topic of conversation and told her that she might want to find another job before the house crumbles completely. She said she has "absolutely no idea whether she too will be losing her job at any moment." She told me that each of her coworkers had the same fear.

Not a great message to be sending to a customer, especially one with a blog that connects to tens of dozens of investment managers. It speaks volumes as to how poorly the bank's management is managing their staff and (not) communicating important messages. The brand means nothing without having the talent to support the value proposition. Mismanage the talent, and you mismanage the brand.

The remaining shareholders of this particular bank, and the remaining employees that have a managerial role should only hope that management realizes that they have no idea on how to manage a large infrastructure in a time of crisis, and that they need to bring in human talent experts; those that specialize in corporate crisis. If they don't understand these fundamental concepts, the entire management team should be fired, if not taken out and tarred and feathered.

The bank is apparently ignoring two of the most fundamental observations i.e. talent management, recently highlighted by LeadershipIQ's Mark Murphy in a very lively and live webinar that was attended by 1000 HR execs..I don't know if this partiuclar company's staff were too busy to attend, but they were invited, they just didn't show up. Perhaps they don't think they need any insight from an outside expert on this topic, or any other topic.

1. Don't Fire Talented Workers Just to Replace Them with Lower-Paid people. In fact, Citi IS firing high paid, top perfomers, and replacing them with untrained, low paid workers..except for those in the executive office of course. Those guys and gals are staying around to soak up their bonus allotments, which are 'contractually due to them', and now being subsidized courtesy of the billions they are receiving from me and you. Massive mistake.

2. Communicate the company's employment position and strategy crisply and clearly to all. Provide specific training to the managers delivering this message BEFORE the message is delivered. Have a clear message for those that remain.

If only based on the conversation I had on the phone with the customer service rep, is displaying a Total Failure to communicate to the remaining work force and give them a clear understanding of what their job security is.

Sure, nobody can really know for sure what tomorrow might bring, as the bank could simply close its doors tomorrow if the check from Uncle Sam bounces. But, the point is, when a customer service employee tells a customer that she has no idea about whether she will have a job tomorrow, that's not a good thing. The fact that she could not address my particular issue is completely beside the point.

3. Don't do stage-based layoff announcements. Do a full cleansing in one fell swoop. Stage-based layoffs, i.e. announcing a layoff in November, and holding back the January announcement about further layoffs is a recipe for disaster. So far this particular bank has announced three series of layoffs in the past eight months. The company's CEO says "our strategy hasn't changed."

OK, the business climate is changing on a day to day basis, so a company's ability to project out six months out, and consider the changes that might need to be made to workforce might be tough. Somehow, the bank's legion of rocket scientists, the ones that forecast five and ten years out on a variety of investment strategies, are unable to forecast how their own business will fare over the next six months. Will there be a 20%, 30%, 40% or 50% drop in earnings over the next 6 months to a year?. Apparently nobody has a clue.

So far, every single step that the executive leadership has taken suggests they are as out of touch with their own business as George W. was with the realities of foreign policy, and, as was his administration with respect to financial industry regulatory policy. And, so that we cross the aisle, shame on Barney Frank, and every other ill-educated Democrat that championed a mortgage for every voter, regardless of whether they could afford it.

As it turns out, this bank is far from learning its lesson on how to preserve brand integrity in times of crisis. Personally, I don’t care. I’m not a share holder, and I don’t necessarily embrace the same politics or culture as one of its largest shareholders, a Middle Eastern sheikh (actually a prince), even if he is widely acknowledged to be a smart guy, and even a very personable guy.

What’s a brand like this to do?? Here are few simple ideas, although they might be too simple for the complex minds at a global bank.

1. As quickly and easily as you’ve made rash decisions over the past months, leverage your internal resources and introduce a plan that helps your customers manage their outstanding debt. Don’t hit them over the head with a brick, especially after Bush and Co just approved a $25 billion+ infusion. You are almost drowning i new cash. How with a straight face (i.e. brand integrity) can you turn back your best customers?

2.Take a deep breadth. Yes, protect your outstanding receivables, but provide customers with a proactive step-by-step program that can help them FOR FREE, lower their outstanding debts. Ween them off debt, just like you weened them on to it. Its all about perception management.

Sounds stupid? Actually its brilliant. And this exact strategy has been used successfully in prior recessions by local banks in different parts of the country.

Just last week, I heard from a banker in Chicago soliciting our firm to help ‘message’ the same type of consumer credit counseling program that he successfully implemented back in the 1980’s, during an economic tailspin that turned the Midwest upside down. When he first created the program for his bank, the management was a bit leery about providing free debt counseling, and keeping the bank open at night and on weekends so that customers could come in for private counseling sessions. The program was a massive success. The number of loan delinquencies dropped by double digits, savings deposits increased, and new customers came into the bank.

This tailspin is a tsunami, and the sooner that the banks ‘get it’, and take PROACTIVE steps that not only protect their balance sheet, but their BRAND, and their good will, the greater the chances are that those financial institutions will survive

Online Advertising: Black Box Behavioral Ad Designs Lead to Green-filled Cash Registers?

Advertising is all about capturing eyeballs, and according to an interesting piece in the business section of today's NY Times, at least two advertising agencies (Adisn and Tumri) are working to solve the complexities of behavioral marketing and the impact on ad design--computer generated ad elements that target specific websites based on the user demographics..

Different colors, different fonts, different key words within the ad text, all based on how specific types of consumers have responded to different types of ad elements.

Smart stuff!

The Inexorable Link Between Sales and Marketing

I shout this just about every day. In fact, in a recent "client-facing" consultation with a young MBA wizard, when I was asked whether our strong suit was marketing or B2B sales, I felt compelled to remind the client the reason they had brought me in the first place--i.e. our tag line "We Connect the Tag Line to the Bottom Line"

TheStreet.com has a columnist that was compelled to post a recent article from Entrepreneur.com's Mark Stevens; "Sales and Marketing. Separated at Birth?" which suggests that either the media so deprived of content that it needs to fill space with business wisdom taught in elementary schools, or that there might be some people left in the world that don't understand the interconnection between marketing and sales.

Yes, it takes a certain skill set to create the "image" and "package" it,and another skill set to "sell" it. But if those two skill sets aren't continuously working hand in hand, whoever owns that business might want to think about changing careers.

And, if you've got employees that don't understand the link between the two practice areas, save yourself some time and energy and simply fire them. If they don't get it by now, they never will.

Click on the link to the article, its a good read. Especially for high school students that won't be able to afford to pay for college or graduate school in this period of economic reflection. If your MBA-trained managers need to read it, that's really scary.

Somali Group Offers To Buy Citigroup

We couldn't resist: The art of the press release...

November 20 (Bloomberg) -- The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.

The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said. ``You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to offer the shareholders anything," said Ali.

The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS's are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody's and S&P have already issued their top investment grade ratings for the PRBS's.

Head pirate, Ubu Kalid Shandu, said "we need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup at an attractive valuation and to take advantage of TARP capital to grow the business even faster."

Shandu added, "We don't call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better."

Courtesy of our wry friends at JLC Group...Hey-put that bottle of rye down! :)

The Marketing Impact of Managing Layoffs

In this new era of economic reflection, its fair to say that 6 out of 10 companies have already started, or are in the process of evaluating and/or implementing a downsizing initiative.

Having held senior positions at three global companies, and being recruited by two dozen+ small, medium and large companies, all facing "gale force headwinds", its safe to say that a very small percentage of HR managers have any extensive practical experience, truly appreciate, and/or have any training in the area of wide-scale downsizings and managing the post mortem process.

Yes, we're referring to grief counseling, as those that are left behind are the ones that have to be attended to.

What does this have to do with marketing? Just about everything.

As the attrition rate escalates, remaining employee morale is a priority that too many people discount (marketing execs, sales execs, etc), and truth be told, the team managers that are responsible for taking proactive steps to ensure ongoing productivity are often ill-equipped, or too distracted wondering about their own future.

The internal communication process is the foundation for any/all outbound initiatives. Low employee morale leads to reduced productivity, lower quality of goods/services, and ultimately to lower sales/revenue. And no amount of advertising can fix that problem. That's when the brand starts to disintegrate.

Screw up the layoff process, and you'll easily poison the well for those that remain. Its that simple.

The country's biggest banks and financial service firms are already implementing unheralded, enterprise wide layoffs. As are every company serving the auto industry, the lodging industry, etc etc.

Sure, the big ones have legions of HR execs to help "manage" the process, and to otherwise implement programs that ensure remaining employees stay loyal, stay focused and stay productive.

Aside from a lack of perceived objectivity, one could argue whether any of these companies and their respective HR people truly understand what needs to be done; which is why outside crisis management and objective corporate grief counselors need to be brought in.

Real experts, not "internal HR managers", but objective, outside professionals that really know what they're doing, and have broad experience dealing with these situations.

If your company is downsizing and recognizes how important it is to 'invest' precious dollars in your remaining human talent--I'd heartily recommend that you contact the people at LeadershipIQ. It just so happens that the firm's CEO Mark Murphy, who just finished a gig teaching the teachers at Harvard University is an expert on the topic..just look at his resume, or search him on Google : MARK MURPHY LEADERSHIP IQ

Don't look at how much money you don't have, just call him.

Commenting about Competitors: Marketing Basics

Courtesy of our friends at MarketingProfs.com:

"...In a post at Gapingvoid, Hugh MacLeod tells the story of a superstar blogger who publicly congratulated a corporate competitor for joining the blogosphere. In her "welcome to the neighborhood" post, she also complimented one of her competitor's products, "which truth be told," says MacLeod, "is … really good … for that industry."

A senior executive at her own company quickly excoriated the superstar in an internal email that bemoaned the press she gave to a competitive product. "What the poor suit doesn't realize, of course, is that on a basic, primal level, how you talk about your competition actually says a lot more about you, than talking about yourself ever will," says MacLeod.

He argues that a willingness to acknowledge the quality in a competitor's product or service underscores the confidence you have in your own. Great artists, he notes, often champion protégés and colleagues; hacks, meanwhile, run around denouncing established artists as overrated or untalented. "Animals can smell fear," says MacLeod, "or the lack thereof." And when the superstar explained this rationale to the executive, he eventually came around to her perspective.

We see plenty of Marketing Inspiration in MacLeod's philosophy: "[W]hat's true at cocktail parties is also true in marketing," he says. "If you want to be boring, talk about yourself. If you want to be interesting, talk about something other than yourself."

Marketing Communications and The News Media: Former TV News Anchor Launches Consulting Firm

Here's an interesting idea: Create a consulting firm and assemble a global team of news media reporters/jouranalists, talking heads, and other media professionals that can be tapped into by corporate clients seeking their collective opinions on the potential impact of a pending corporate news announcement.

Given that many, if not most of the news media members are spin masters, it makes perfect sense that they'd be called upon to opine on how their peers would present the upcoming news story.

Created by former MSNBC Anchor Dan Abrams, the business model for the firm is equally compelling; they'll bill out an hourly basis (and presumably they'll also offer extended retainer agreements so that a corporate client can present an unlimited number of queries).

Do You Want to Know What the Most Successful Advertising Strategy Is?

Can asking a question in an ad increase sales?
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And kudos to Barry A. Densa and the gang at MarketingProfs.com

Social Media in Times of Economic Reflection: If you don't use it, you could lose it (potential sales)

Below excerpt from an Oct 13 WSJ online article with tips on how to market in ever-more challenging times.

Personally speaking, the first sentence i.e. "hottest trend on the web is social media" is an observation that's been made thousands of times over the past several years...but the fact of the matter is that social networking has always been the most impactful form of advertising/marketing. Six degrees of separation goes a long way...
Perfect example: A marketing staffer at Hachette Publication was assigned the task to surf social networking sites, starting with LinkedIn, as part of a campaign to promote a new novel from David Baldacci. She necessarily searched profiles of members that included "favorite authors", and it so happens that my LinkedIn profile included several of my favs, including David Baldacci.

Since my phone and email address are displayed on my profile, this lovely gal phoned me up, introduced herself, and solicited my mailing address so that she could send a FREE copy of Baldacci's latest book. A week later, a lovely package arrived from Hachette, well before the book becomes available in book stores.
Its a good one too!(a continuation of the Camel Club/Oliver Stone series). Hachette is out the cost of a hardcover book, plus postage.

In return, they've earned my continued loyalty to the author, my new-found appreciation for Hachette, and unbeknown to the marketing department, this posting in the blogosphere--which will presumably be read by the many hundreds of fans that tune in to my latest musings, and since many of them are like-minded, at least several will be inspired to buy Baldacci's book at Barnes and Noble.. Long live Social Media

TAP INTO SOCIAL MEDIA

The hottest trend on the Web is social media -- services that allow people to connect with friends, family and colleagues, as well as interact with people around common interests. Social sites could prove crucial to marketers around holiday time, since shoppers often turn to people they know for help with making gift decisions.

"People trust people like themselves more than they trust experts," says Greg Verdino, chief strategy officer at Crayon LLC, a social-media marketing consultancy based in Westport, Conn. "It would be advantageous to have these folks telling your story."

Among the most important social sites for small companies are those where consumers post reviews of local businesses, such as Citysearch and Yelp. Matt McGee, director of strategic search at KeyRelevance, a search-marketing agency based in Dallas, recommends that businesses find ways to address poor reviews as well as encourage their loyal customers to write positive reviews. Companies might do this when they send emails to customers to confirm completed orders or in follow-up notes a few weeks later.

A strong presence on review sites "encourages other shoppers to become customers, it's good word-of-mouth marketing and can have long-term impact in the search engines, which often award better rankings to well-reviewed businesses," Mr. McGee says.

Jerry Yang Set to Step Down as Yahoo CEO ; SEC puts Cuban into the Penalty Box

Although there's no need to link the media stories blanketing the two headline stories, rule of thumb suggests that its good protocol insofar as ensuring that this blog's comments get noticed.

1. In all due respect, and without intending to be rude or discourteous, Jerry Yang was pulling on his wang when he thought that his return to the CEO office would help resuscitate Yahoo!'s business model. Even Carl Icahn figured out that Yang didn't have the gravitas that was needed in the current environment.

His notice of resignation should be seen as a bright spot to anyone that is actually in the position to take over the company. Given the current financing challenges, this will be remembered as one of the great "take unders" of the new economy.

2. Mark Cuban is one of the brashest, most opinionated remnants of the Internet Bubble Age. He's also one of the smartest, savviest entrepreneurs of this generation, as well as the prior generation--and perhaps the next generation. Unlike many that minted millions building net-cenric platforms and cashing out with big bucks, Cuban has a well-documented track record for plowing his money back into well thought out businesses.

OK. He's brash, and he's been tagged with more fines by the NBA than a combination of outspoken coaches and push the envelope players. He calls them as he sees them.

Our opinion is that the SEC's charges, alleging purported five year old insider trades made by Cuban five years are not only trumped, but begets a more important question: "What is the SEC doing investing its time and valuable resources in pusuing outdated actions against a basketball team owner, when they would seemingly have more important things to pursue?

OK. He's a deep pocket. And, he might be in a position to write a check for a few tens of millions that can otherwise help Uncle Sam pay for the hundreds of billions that Sam and Henry have allocated to bailing out banks and Wall Sreet firms.

But why aren't those SEC guys spending their time going after the hundreds of millions of dollars that bigger targets walked away with????

Enough said.

Google Says: Video Chat is Next

We pat ourselves on the back for prescient pontificating--if you look back several weeks ago, we shouted out that interactive, live video broadcast applications, including pay-per-view platforms will be the next 'big thing' for those in the talking head industry.

Lo and behold, Google's top guns just announced they too share the wisdom, and that Goog will be launching a platform allowing people to video chat between themselves. Although AOL and MSN have supported this application for a long time (just plug in a web cam and a microphone, and you're there), its nice to see that Goog's senior product management team "gets it". (That said, we had shouted out to Goog 4 years ago that adwords needs to support demographic zoning and targeting of ads, it took them another 2 1/2 years to introduce it..)

Here's a quote:

"..people love being able to watch something exactly as it happened," wrote Google product manager Serge Lachapelle.

"And as webcams have become popular, more and more of us are realizing that video is the next best thing to an in-person conversation."

Marketing Communications: Hiring Manager's Role in the new age of Economic Reflection

We typically comment on the importance of branding vis a vie consistently integrating marketing communication strategies so as to extend across the entire enterprise-including IR and PR initiatives. In this new era of economic reflection, where the importance of preserving brand integrity must necessarily include the role of HR managers, and their respective campaigns.

We all know that tens of thousands of workers, including white collar, are being displaced, creating anxiety and frustration for everyone involved. Notwithstanding the fact that there's a lot more firing than hiring taking place, companies are hiring new employees, either to replace those that have retired (or let go because of performance issues), and/or those that are expanding specific departments. According to claims made by TheLadders.com, a website that advertises 100k+ jobs, HR managers and headhunters are purportedly trying to fill thousands of white collar jobs, even in this climate.

If you are hiring, you'd want to make sure that your HR staff, and the respective hiring manager is particularly sensitive to the import of how they communicate with candidates, in particular, the follow up process.

Here's an example of a company that apparently overlooked this basic element, at least according to the senior executive that shared his experience with us:

Company A, a financial industry company that publishes research and ratings, advertised a senior executive business development opening via an industry social networking site. Stan Smith (a pseudonym for the purpose of this posting), employed at another firm, noticed the opportunity on the business networking site. Believing this would be an opportune time to investigate a new opportunity, Stan submitted his CV to the HR director that had posted the opening. Within two days, Company A's HR director phoned Stan and invited him to interview for the job.

After traveling 2 hours to meet with both the HR Manager and the actual hiring exec, Stan was given the impression that his background was uniquely suited, and based on references provided, further enhanced by the fact that he and the hiring exec shared mutual acquaintances within the Industry, the hiring exec indicated that he was indeed an impressive candidate. The hiring exec informed Stan that while they were on a fast track to hire someone, they'd contact Stan within the week to update him on the status of the search. In accordance with professional protocol, Stan followed up his meeting(s) two days later with separate thank you notes to both of the execs he met with.

After another week had passed, and Stan had not received an acknowledgment to either of his notes, he did what any sales professional should be expected to do--he phoned the hiring exec to follow up, and after being directed to the hiring managers voice mail, he left a polite message to ensure that his original email had in fact been received. A subliminal yet not so subliminal strategy, but one that most professionals would agree is deserving of a response, especially when the candidate had taken the time to meet with the hiring manager at the managers request.
He also phoned the HR manager, and upon receiving that individuals voice message system, he left a similar message i.e. making sure that his follow up note had been received.

After ten days had transpired, Stan had still not received any acknowledgment from either of the people that he had met with. Lets easily guess that Stan was actually not the candidate of choice, and that Company A had since decided to hire someone else.

That said, Stan, while accepting that he apparently wasn't the top candidate, was less than accepting of the fact that Company A, which prides itself on the integrity of its products/services, had seemingly 'dissed' him by failing to provide a professional follow-up, advising him they had selected another candidate, and to thank him for taking the time to meet.

That's a big oversight on the part of Company A., however many candidates they might have interviewed, especially when considering the senior level job. Stan, having many associates within the Industry, and more than a few of which that are customers of Company A, is an influencer, even if he is also looking for a job. Influencers, especially those with large networks within an otherwise small industry, can influence the perception of the brand amongst peers, as well as those involved in purchasing and partnership opportunities. A

And, as the saying goes, what goes around comes around. A saying that HR managers and hiring execs will be well advised to reflect upon.

Marketing Yourself & How To Get Arrested

For those searching for marketing strategies in challenging times, we tripped over an insightful paperback written by Michael Wallach, a long-time Hollywood talent agent whose book "How To Get Arrested" is actually great and uniquely relevant for anyone that could use a reminder about the basics of marketing.

Yes-its geared towards aspiring actors, but as the prologue underscores, the insight and observations cover topics and tactics that transcend across all boundaries.

Easy reading, very pragmatic, and the type of book that deserves a mention by Oprah!

Company Blogs Learn to Shoot First

This Wednesday's NY Times Business section included an insightful story profiling corporations that do get it, don't get it, or get it wrong when it comes to embracing the power of blogs.

Just more than a year ago, in the Sept 17, 2007 posting on this very blog, we advocated that blogs are/should be/will be an integral part of a corporation's IR, PR, and HR strategies. Lo and behold, we were ahead of our time; and this week's NY Times article focused on how important it is for companies to proactively put their arms around blogs, especially in connection with workforce downsizing. Its all about perception management...and before a disgruntled employee fires salvos at a company on the internet--it doesn't take a rock scientist (not the ones that built quantitative trading models) to understand the importance of being in front of a problem with a well-thought out messaging strategy to cushion the blows of the headwinds that are knocking employees down on their backsides.

New Age Advertising for the Investment Brokerage Industry

We can all use some uplift...and parody style advertising is about to go from SNL to MSNBC...here's a sneak preview.

and Guys-not sure you want to show this to your wife..

Point of Presence and Targeted Advertising in times of Economic Reflection

We'll be the first to coin a great new phrase that can be used in connection with the current economic environment..its not a recession, its a period of economic reflection.

With that, we give a hats off to an in-store advertising approach that retailers, consumers and manufacturers are embracing. POP advertising has been evolving for years,and without listing the multitude of in-store strategies that have been used over the years, an enhancement developed by Catalina Marketing is proving to be a solid, next generation approach.

Profiled by David Kesmodel in today's WSJ Media and Markets section-Catalina's latest approach is database driven and personalized. After a shopper makes a purchase at her local supermarket and her store loyalty card is processed, the cashier hands over the paper receipt, along with another slip that includes discount offerings on products that map to the shoppers buying habits and product choices. One major brand manufacturer (Stouffer's) has found this strategy is delivering 10x higher response rates than any other in-store program.

Wow!

Recession? Depression? Lets Call it Reflection.

In the course of Fed Chairman Ben Bernake being barbequed at an appearance before a congressional hearing last week, one US Senator, like many others, demonstrated a complete lack of understanding i.e. economics when challenging Bernake to tell Congress whether he thought the US was in a 'recession', and if not, whether the US was headed towards a recession. In this widely-covered media event, the question was posed in an exasperated tone, as if the state of economy was his fault. Merely illustrating that many elected politicians are merely qualified to cast blame on to others in front of TV cameras.

Ask 100 economists what the definition of recession is, and you'll likely get 101 different answers. The common text book definition is 2 consecutive periods of declining growth in GDP; and lets not even talk about the definition of 'economic depression'.

Ask Joe the Plumber, Dave the Dentist, Harry the Hair Cutter, Bob the Builder, Sam the Salesman, Melanie the Mom, Barbara the Banker, Alan the Accountant, Bill the Bartender, or Patrick the Priest--we're in an economic recession.

The fact that the country's most famous hockey mom (Sarah Palin) is shopping at Neiman Marcus and spending $150,000 for a wardrobe for her and her family might suggest things really aren't so bad--or perhaps its the right approach--shopping for clothes is a patriotic thing to do in economic down times,as it boosts GDP. And $150k, in this environment might be insignificant, but every little bit helps.

How long, how deep and how painful this "recession" becomes is easy to predict--just buy yourself a crystal ball.

That said--Jay Berkman, a savvy marketing guy from Westport, CT's JLC Group suggests that "its all in the presentation", and proposes that we all adopt a new, refreshing phrase--"economic reflection" . Its soft, non-invasive, and touches all of the right positive-thinking buttons. Using this phrase, as opposed to the negative, fear-driven adjectives that marketers too often try to exploit in the course of positioning their products in times of financial stress can encourage consumers, buyers and anyone else reaching for their wallet to contemplate the value proposition of the underlying product.

We agree--and thank Jay for offering up that tag line for free use by any brand marketer, leader, or anyone else that wants to present themselves as a thoughtful, forward looking positioner.

ROI on Advertising (and Sponsorship)

Click on the title link to a "sortof-kindof" perspective from one media industry professional's take on the concept of ROI...and how he connects the immediate gratification mindset of Wall Street-centric appetite for immediate return to the same(misguided) goals of advertisers and marketers that expect a genie to jump out of the black box of advertising tricks.

I'll be Switzerland on his particular viewpoints--as I'm of the belief that responsible marketing needs to connect the tag line to the bottom line..but I'd concur that any strategy needs to appreciate the concept of 'sales cycle'..and part of the cycle, regardless of the ad strategy, includes a resonation period...and advertising (and sponsorship initiatives) is merely a component that ultimately (not immediately) leads to measurable sales results.