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."
Thursday, November 13, 2008
Tuesday, November 11, 2008
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.
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.
Sunday, November 09, 2008
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!
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!
Friday, November 07, 2008
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.
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.
Wednesday, October 29, 2008
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..
Thursday, October 23, 2008
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!
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.
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.
Wednesday, October 22, 2008
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.
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.
Monday, October 20, 2008
Mistakes Marketers Make-How To Cut Through the Clutter
Today's edition of the WSJ included two columns that encapsulated compelling marketing (and advertising) do's and don'ts, observations that are particularly appropriate when facing heavy "head winds". The type of climate we can expect to be in for the time being.
That said, lets all remember that advertising is merely a component of marketing, and interesting to point out findings in JackMeyer's recent report, "..advertising, as a percentage of marketing budgets, continues to wane; and advertising spends are necessarily being directed to platforms that are otherwise uncluttered, with content that's creatively captivating..."
Advertising insight courtesy of Sridhar Balasubramanian and Pradeep Bhardwau from UNC's Business School:
1. Target customers at times when they're unoccupied. (This underscores the reasons why airport-centric venues (especially in-plane)offer a nice vehicle.
2. Tease, don't tell. The logic here is that brain can only process so much information, and when it comes to an ad, too much of anything is no good. Make the message intriguing, so that it drives the eyeball to a destination that can sell.
3. Cross Promote. By aligning your brand with another complementary brand, you introduce a much coveted goal-third party endorsement/integrity. That said, make sure you're aligning with a brand that has integrity.
4. Integrate your ad within a frequently used application. A great example of this approach is a software application that we highlighted two years ago-created by our friend Evan Richmond, a fellow that's always been ahead of his time and whose approach to capturing eyeballs is now under the umbrella of Think360 whose
Marketing Do's and Don'ts; Contrary to Conventional Wisdom..
(Courtesy of David Corkin at South Australia's International Graduate School of Business)
1. Broaden The Brand..as opposed to conventional 'wisdom' of zeroing in on the perceived demographic target
2. Loyal customers aren't really so royal. Loyalty is nice, but research suggests, its over-rated. Especially when it comes to commoditized products. And what isn't commoditized these days?
3. Increasing sales is achieved by increasing the customer base. That brings us back to broadening the brand. The conventional and incorrect wisdom according to Corkin, is to emphasize increasing loyalty of existing customers and trying to increase their purchasing of the product/service.
4. Promotions are great--if the goal is to sell your product at a discounted price (and earn less profit margin) to existing customers. Otherwise, this strategy rarely captures new, long-lasting customers.
5. The 4 P's (product, price, place and promotion)-a topic that our generation of MBA's will rattle off in a presentation (including job interviews) overlooks a more fundamental focus--we keep saying it--Its all about The Brand...Creating positive associations in the mindset of the audience. That requires creative thinking.
6. Marketing is about hunting and capturing. Wrong-sales is about hunting and capturing--marketing is about making sure your message/image is inserted in locations that your audience is actively visiting.
That said, lets all remember that advertising is merely a component of marketing, and interesting to point out findings in JackMeyer's recent report, "..advertising, as a percentage of marketing budgets, continues to wane; and advertising spends are necessarily being directed to platforms that are otherwise uncluttered, with content that's creatively captivating..."
Advertising insight courtesy of Sridhar Balasubramanian and Pradeep Bhardwau from UNC's Business School:
1. Target customers at times when they're unoccupied. (This underscores the reasons why airport-centric venues (especially in-plane)offer a nice vehicle.
2. Tease, don't tell. The logic here is that brain can only process so much information, and when it comes to an ad, too much of anything is no good. Make the message intriguing, so that it drives the eyeball to a destination that can sell.
3. Cross Promote. By aligning your brand with another complementary brand, you introduce a much coveted goal-third party endorsement/integrity. That said, make sure you're aligning with a brand that has integrity.
4. Integrate your ad within a frequently used application. A great example of this approach is a software application that we highlighted two years ago-created by our friend Evan Richmond, a fellow that's always been ahead of his time and whose approach to capturing eyeballs is now under the umbrella of Think360 whose
Marketing Do's and Don'ts; Contrary to Conventional Wisdom..
(Courtesy of David Corkin at South Australia's International Graduate School of Business)
1. Broaden The Brand..as opposed to conventional 'wisdom' of zeroing in on the perceived demographic target
2. Loyal customers aren't really so royal. Loyalty is nice, but research suggests, its over-rated. Especially when it comes to commoditized products. And what isn't commoditized these days?
3. Increasing sales is achieved by increasing the customer base. That brings us back to broadening the brand. The conventional and incorrect wisdom according to Corkin, is to emphasize increasing loyalty of existing customers and trying to increase their purchasing of the product/service.
4. Promotions are great--if the goal is to sell your product at a discounted price (and earn less profit margin) to existing customers. Otherwise, this strategy rarely captures new, long-lasting customers.
5. The 4 P's (product, price, place and promotion)-a topic that our generation of MBA's will rattle off in a presentation (including job interviews) overlooks a more fundamental focus--we keep saying it--Its all about The Brand...Creating positive associations in the mindset of the audience. That requires creative thinking.
6. Marketing is about hunting and capturing. Wrong-sales is about hunting and capturing--marketing is about making sure your message/image is inserted in locations that your audience is actively visiting.
Wednesday, October 15, 2008
NY Times /CBS News Poll: McCain Negative Advertising Backfires
For those that noticed this past Sunday's posting at this very blog(immediately below), it would seem that my middle-aged, middle of the road opining is shared by more than a few..(I was not polled by NY Times/CBS News prior to today's release of their findings..)
"..The poll found that more voters see Mr. McCain as waging a negative campaign than Mr. Obama. Six in 10 voters surveyed said that Mr. McCain had spent more time attacking Mr. Obama than explaining what he would do as president; by about the same number, voters said Mr. Obama was spending more of his time explaining than attacking...The top reasons cited by those who said they thought less of Mr. McCain were his recent attacks"
Duh... And for those that want to put blame on the advertising/marketing geniuses that craft McCain's strategies..keep in mind, they all come with the statement "I'm John McCain, and I approved this message.." Yikes.
"..The poll found that more voters see Mr. McCain as waging a negative campaign than Mr. Obama. Six in 10 voters surveyed said that Mr. McCain had spent more time attacking Mr. Obama than explaining what he would do as president; by about the same number, voters said Mr. Obama was spending more of his time explaining than attacking...The top reasons cited by those who said they thought less of Mr. McCain were his recent attacks"
Duh... And for those that want to put blame on the advertising/marketing geniuses that craft McCain's strategies..keep in mind, they all come with the statement "I'm John McCain, and I approved this message.." Yikes.
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