~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The Amplifier
Ideas for Brand Marketers
October 2008
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
In this issue..
-- The Importance of Strategy in a Digital Marketing World
-- Hot Off the Press! Our New Millennial Handbook
-- It's a Hit! Brand Amplitude in the News
-- What "Down Under" Marketers Can Teach U.S. About Green Marketing
Sick of the election and financial crisis? So are we! Let's talk about something else, okay? We are still fascinated by Millennials but keeping up with the recent flood of articles about generational differences at work, in politics, and in marketing has become a full- time job. To help keep it all straight, we created a Millennial Handbook. Interested? Learn how you can get a copy below. This month, we also offer some thoughts on the value of strategy in a digital world. Finally, Amisha Sinha in Sydney shares her insights on eco-marketing "Down Under". Carol |
|
|
The Importance of Strategy in a Digital Marketing World ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The digital revolution didn't turn out the way I thought it
would. Five years ago, I was enthralled by the
possibilities of CRM. Mass marketing would give way
to a 1:1 marketing paradise, where billions of data
points would match elegant targeting strategies to
equally sublime execution. We would
be confident the right
message was delivered to the right person at the right
time to evoke the desired response. There were
at
least two problems with this vision. First, the
cost and
complexity of 1:1 marketing turned out to be
simply too
high. The second problem is that technology didn't
stand still. I for one didn't
anticipate that consumers would create their own
tailored messages, then send them to the right
person at the right time to evoke the desired
response.
Today we know data is our friend, but it can only take us so far. As it turns out, having a billion points of data is more useful when executing programs than when designing the underlying strategy. When setting strategy, insight tis king and insight doesn't require massive quantities of data. The rule in qualitative research is that after 40 people, you can be pretty sure you won't hear anything new. Ironically, the rules for sampling, developed in an era where data was expensive, still apply equally in an era when data is ubiquitous. We don't need supercomputers to understand how customers think, what they want and what motivates them. What we need is insight. In the digital world the insights often turn out to be more about what makes consumers alike than what makes them different. This may be the last, ironic twist on mass marketing. The luxury of mass media made us wild to segment, but now that we can target precisely, we find it is more effective to search for common ground. Commonalities are usually more important purchase decision drivers than uniquenesses.At the highest level, there are really very few meaningful decision drivers; call them values or metaphors, there aren't that many and they are essential to understanding who we are, what motivates us about what to buy, how to vote, or where to travel, what to watch. It's also infinitely easier to execute against shared values and attitudes. Our advice to digital marketers: focus on getting the message right in the first place. If the message is relevant and likeable, it won't be hard to find digital platforms that will connect with the audience. One of the earliest digital successes, BMW Films, was based on an insight about the target's mindset and online media habits, not a desire to leverage digital media per se. Even more shocking, sometimes it makes more sense to create a real world experience than a digital one. The majority of word-of-mouth is still done at the coffee house, in the mall, over brunch or at the gym. Marketers need to remain platform agnostic. It's all about connecting with the audience with a message relevant enough to be passed on. |
|
|
Hot Off the Press! Our New Millennial Handbook ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Obama's Gen Y appeal has accelerated public
awareness that Millennials are not just younger
versions of their Boomer parents and Gen X siblings,
but the result of a massive generational shift. Obama
was named "Marketer of the Year" by Ad Age
because of his savvy knowledge of Millennials. Are
you feeling a need for an overview on Millennial
Marketing, all in one place? Check out our newly
published Millennial Handbook: A Snapshot to
Everything Gen Y.
Compiled from our blog postings, articles and original research, it's the only comprehensive guide we know of. In 67 colorful pages it covers Who They Are and Why They Matter, 10 Values That Color the Millennial Perspective, 5 Things Millennials Would LIke to Tell Their Bosses, and More! The Millennial Handbook is available as pdf free to Brand Amplitude clients, $99 for non-clients. |
|
|
It's a Hit! Brand Amplitude in the News ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
When we joined the blogosphere this year, we
weren't sure if we were talking to ourselves, but at
least we were enjoying the conversation. After
diligently posting for months, we know at least a
few others are listening in.
Judy's blog,
|
|
|
What "Down Under" Marketers Can Teach U.S. About Green Marketing ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
One of the first changes I made as a consumer upon
my move to Sydney was to switch from plastic to re-
usable cloth bags for groceries. It felt like such a
natural thing to do
when everyone around me had already embraced this
small, but important step. The Australian Prime
Minister has even been talking about eliminating
plastic bags in stores altogether, and consumers are
generally supportive of the initiative. Most of my
neighbors dry
their clothes outside rather than use a dryer - even in
the winter. My recycling bin is significantly bigger than
my trash bin. A month after we moved into our house,
a government sponsored agency rang our bell one
Saturday morning and switched all of our light bulbs to
energy efficient - for free! No strings attached.
As you can see, there is a high level acceptance of sustainability initiatives both by consumers and businesses here in Australia. Australians are willing to pay more for products and services that support sustainability. Over a quarter of the adult Australian population is LOHAS (Lifestyles of Health and Sustainability) aligned. Interestingly, these consumers come from all demographic backgrounds and do not necessarily skew a particular direction, making the attitude mainstream. According to Mobium Group, spending in LOHAS market segments will reach AU$15 billion in 2008 - a 25% increase from 2007 - and an estimated $22 billion over the next 3 years. This presents a big opportunity for branding new (and not so new) product offerings. Foster's first 100% carbon offset beer, Cascade, launched earlier this year, is a success. Foster's attributes higher than expected sales to high consumer demand for "greener" products. While it's easy rush to get caught up in the hype to create new offerings that cater to the eco-marketing trend, companies should proceed with caution. Greenwashing can not only result in tough fines and penalties, but also cause irreparable damage to the reputation of a brand. Cascade went through intensive analysis and certification processes to substantiate its green claim, but many companies will be tempted to stretch the truth for their brands to better match consumer attitudes. The Australian Competition and Consumer Commission has had to undertake inquiries against some big brands (eg Woolworths) as a result of disputed green claims. As a result, 88% of Australian consumers are still skeptical about green claims. In the US, data by Mintel suggests that, at least among women, interest in buying green is still demographically skewed - older, married and higher educated. Given the high growth rates in certain green product categories, that trend will likely become more mainstream quickly. When it does, there will be some great role models of small and large brands that have gotten it right (and some that have not!) here in Australia to help US brands relate to consumer attitudes, ethically and fiscally, while overcoming consumer skepticism. Amisha Sinha recently relocated to Sydney Australia. Contact her with questions or suggestions at amisha@brandamplitude.com
|
|
|
More Brand Amplifying Resources ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
|
|
|
Contact Information ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
email:
carol@brandamplitude.com
phone:
269-429-6526
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
|
