Jack Trout has written a new book, that’s what he’s done! Come and meet Jack in person and find out more next Wednesday, May 25th at the NYAMA’s “Meet The Author” breakfast series.
It starts at the ungodly hour of 8 am with a jolt of caffeine followed by a conversation with Jack Trout. It will be held at the New York American Marketing Association offices on 116 East 27th Street, 6th floor, 1-212-687-3280. You can sign up at nyama.org
Jack Trout is the co-author of Positioning. And of Re-positioning. And of many other well-know books on marketing. If you’ve never heard him speaking about branding, you really should come.
So here’s one of my favorite Jack Trout stories.
In 2004 the CMO of McDonald’s, Larry Light, revealed the new branding strategy behind McDonald’s incredible turn-around story. How incredible was the turn-around? In less than a year his approach lifted the company to higher sales, revenues, margins and growth of a brand that many people had written off as just for young families.
Here’s Larry Light in a NYC speech to the heads of ad agencies and clients:
Beware of the so-called “positionistas.” They say that a brand can only stand for one thing in the mind of the market. This may make some sense for small brands. But for big bands – like McDonald’s – it’s nonsense.
Identifying one brand position, communicating it in a repetitive manner is old-fashioned, out-of-date, out-of-touch brand communication. Simplifying a brand to a single position is not simplification, it is simplistic. Simplistic marketing is marketing suicide.
Then Light introduced an entirely new approach to marketing, to advertising, to branding. It is an approach to marketing with narrative and storytelling at the heart of it. Here’s how Larry described it:
A brand is a multi-dimensional, multi-faceted, complex message, not a single-dimensional, single-positioned, simplistic message. Customers will not accept monotonous, repetition of the same simplistic message. They want a dynamic, creative chronicle.
And, big brands like McDonald’s are not uni-dimensional. We are a multi-dimensional, multi-faceted, multi-segmented, many-sided brand. So, we changed from mass marketing a single message to multifaceted, multi-segmented, many-sided marketing.
We think of our new marketing approach as “Brand Journalism.”
In Ad Age Jack Trout responded. Go back to the August 2004 and you’ll see the headline reads:
McD’s abandoning of positioning is “Lunacy”
Perhaps it was lunacy but it set the company on a path that has put it into the stratosphere. McDonald’s was 1 of 2 DJIA companies in 2008 to end the year with their stock price higher! Gold Effies in the US. Global Gold Effie. Record breaking sales. That’s the kind of lunacy that I like!
Agree or disagree with Jack Trout….the point is you need to pay attention to him. It is absolutely, entirely and certainly worth going and seeing him first hand next Wednesday, May 25, at the NYAMA. nyama.org