Posts Tagged 'reinvent marketing'

2014 Marketing Hall of Fame — A Turning Point In Marketing

On Wednesday night, 5/28, we will be inducting 3 people in the 2014 Marketing Hall of Fame.

MHoF_Col

This marks a major turning point in marketing. The Age of Narrative Marketing is now ready for prime time.

It was 10 years ago that Ad Age mocked the very idea of narrative as a strategic framework, metaphors as the keys to compelling communications  and storytelling as the single most effective way to integrate digital and traditional media. The catalyst? A major talk by the CMO of McDonald’s revealing the secret for the company’s revitalization and leap in relevance, market share and stock prices — a new model for marketing, Brand Journalism, spearheaded by Larry Light.  Among the detractors were Al & Laura Ries were among the loudest detractors, “The notion that McDonald’s should abandon the positioning philosophy and instead adopt a brand journalism approach is lunacy.

  • Around the same time the ARF (advertising research foundation) was conducting a major industry study on the power of story being more effective than the traditional rational “proof point” or “reason-why”.
  • Gerald Zaltman was publishing widely on his research into the universal power of metaphor.
  • And 10 years ago I introduced the Narrative Branding model of marketing.
  • Douglas Holt of Harvard was demonstrating a model of “iconic” brands in which cultural storytelling was more important than the standard “positioning” or “USP” models.

Lunacy, heresy, whatever you want to call it, the reality is that narrative models of marketing are far more effective than traditional positioning. How far has marketing gone in the direction of narrative marketing?  When Liquid & Linked was revealed at Cannes it was received with awards.  More importantly, it is helping the company to achieve it’s aggressive marketing goals. And that is what is most important.

So join us on Wednesday as we are celebrating the brilliance of Beth Comstock of GE, Joe Tripodi of The Coca-Cola Company and Philip Kotler of Kellogg School of Marketing.  Each one of them has broken with the old traditional model of marketing.

  • The Coca-Cola Company’s model of Liquid & Linked is a prime example.
  • Beth Comstock has elevated the role of marketing within GE to create new markets.
  • And Philip Kotler is always at the forefront of where marketing is going, and particularly how marketing can promote positive social changes.

Another sign of the new age is that several years ago JWT, our host for Wednesday night, embraced Brand Journalism, created videos around their version of the approach, held panels at SxSW and did much to promote the new model.  The Commodore would be proud!

So come on Wednesday. Celebrate the Age of Narrative Marketing! Celebrate brilliance in marketing!  Marketinghalloffame.org

 

The Marketing Hall of Fame Is Now Open

There is a Nobel Prize for Economics. And a Nobel Prize for Literature. Why isn’t there a Nobel Prize for Marketing?

Welcome to the one, the only, the official Marketing Hall of Fame. Celebrate Brilliance in Marketing.

MHoF_Col

 

The Marketing Hall of Fame is where the Nobel Prize of Marketing lives. Produced by the NYAMA.

Stay tuned…more to follow…

Kotler and Keller on Narrative Branding

It is a great honor that Narrative Branding is included in Marketing Management by Professors Philip Kotler and Kevin Keller.

Marketing Management (15th Edition, Pearson) is the most widely used marketing textbook.  It has been adopted by many MBA programs around the world.

Narrative Branding

Narrative Branding method in Kotler/Keller Marketing Management

This has been a week of experiences for me.  “Brand Experience” is going to be the marketing buzzword of the year.  And not without reason.  So, here’s been my week:

First, I received a copy of The Apple Experience by Carmine Gallo (McGraw-Hill)

It’s a good primer into how Apple found success in retail after other computer companies had failed.   If you’re an Apple fanatic, then most of the book will be warm comfortable ground that you’ve been through before.

And if you aren’t the kind of person [or company] who obsessively benchmarks Brand Experiences, this is a great shortcut.

But Apple isn’t the only experience there is.  In many ways I find the Apple experience to be more about the sheer visual beauty of the stores, products and space.   There’s less than meets the eye, in some sense.  Try TD Bank to see just how much the actual experience overshadows the design.  Start by walking your dog into the branch and see how you are treated.  Now, go ahead to a nearby Citi location and try the same thing.

One complaint I have about Apple and Apple Stores is the feeling of being in a walled-in garden.  It is hermetic.  There is a built-in subversion, a paradox at the heart of the Apple Store.  Explicitly Apple is all about unleashing the creativity of people like you and me.  Implicitly, encoded in the heart of Apple is a “look at me, admire me, love me” sensibility, an extreme narcissism.  At it’s core Apple believes more in its own creativity than in yours or mine.

Second, I found this on Engadget:

Samsung promised one more surprise — and what it gave us was a special retail strategy. The company will be opening Mobile Pin locations, or glass-housed pop-up stores, to help showcase its new flagship phone [Samsung Galaxy S III launched in London earlier today]

Samsung Mobile PIN exterior from Engadget

Samsung Mobile PIN interior from Engadget

 

My Future Was BRITE

It was great fun to be at Columbia’s Center for Global Brand Leadership’s BRITE Conference yesterday and today.

Professor Don Sexton and David Rogers presented some of initial findings and implications from our new CMO Study on ROI in the Era of BIG DATA.  This was a joint study of the Center for Global Brand Leadership and the NYAMA.  The very generous sponsors of the study were the Greenbook and ResearchNow.  There were many other people involved in championing the idea of this study including Edwin Roman of ESPN/NYAMA, Rick Kendall, Debra Berliner and Christine Heye of the NYAMA; Sylvia Chu, Andrew Kyrejko and Michael Dudley of Verse Group; and Matt Quint and the incomparable Bernd Schmitt of Columbia.

If I had one message to give CMOs about the study it is: “You are not alone in your struggles to stuff digital marketing into traditional processes and methods.”

And there’s a good reason.

Big Data is a Big Headache for most marketers, revealing a fundamental Big Problem: The underlying foundation of marketing is rickety, fragile.  Piling more digital innovations on top of it reveals the problems inherent in the traditional positioning model of how marketing works.  In fact, marketing management has become like an elephant riding on a bicycle.

The good news is that there are newer approaches to marketing that are built for the digital world.  Until now, many of those breakthroughs in marketing have been created internally at corporations like Coca-Cola (liquid and linked), McDonald’s (Brand Journalism), P&G and others.  The principles of their approaches are available to anyone to adopt and adapt.  Principles such narrative — e.g. seeing your brand more like a hit Broadway Musical or attraction at Disney World rather than a 2 dimensional billboard.  Principles such as using powerful metaphors, co-creating meaning with customers and, yes, engaging with them on their terms.

In the coming weeks expect to see more of the data from the study so that you can make your own judgements.  The NYAMA will be holding a seminar to share the findings in greater depth than was possible at BRITE.  Stay tuned!

CMO ROI Social Media Metrics – or – Did I Say the Magic Word Yet?

We are now out of the field with the joint BRITE/NYAMA study of CMOs.  Over 200 corporate marketing decision makers have shared their views and perspectives on how they are managing and measuring digital and social media.   This study goes deep into the methods, metrics, ROI — even to the level of  how they are organized to take full advantage of social media.

As the old saying goes, if you can’t measure it, you can’t manage to it.

World premiere is on March 5th at the BRITE conference here in NYC.

NYAMA members get a $100 discount on the conference.  You can get the discount code by emailing Tracy Crinion, tcrinion@nyama.org.

In April, date TBD, NYAMA will hold a follow-up event to go through the findings in more depth and allow more time for members to discuss the issues.  Stay tuned to nyama.org.

“New Survey Results: Marketing Measurement in a Time of Transition
Prof. Don Sexton; Columbia Business School
Randall Ringer; President, NY American Marketing Association, and CEO Verse Group

Measuring the effect of marketing activities is, arguably, more important than ever. The Center on Global Brand Leadership and the NY-AMA are conducting a survey of over 200 senior marketers from leading companies in order to uncover current practices and attitudes concerning the development and use of effective marketing metrics. Results of this research will be released for the first time at BRITE ’12, providing key insights for attendees considering their own marketing metrics and best practices.

 

 

Brand China and Apple’s Image

My last post was about the image of China as a brand and as home to a number of Chinese brands.

Around the same time the New York Times was running a series of articles about the working conditions at some of the largest Chinese manufacturers — companies that are contracted to make products for Apple, Dell, HP, Nike and many other “American” brands.

Made-in-China has carried a stigma for a number of years because the country has been linked to many counterfeit and defective products.  These range from microchips to medicines — and have poisoned people and animals as well as destroyed computers, interrupted communications networks and caused other physical damage.

Now the spotlight is on working conditions in Chinese factories.   Moral outrage at sweatshops is part of American culture.  It made headlines when Wal-Mart locked the cleaning staff in overnight.  We get up in arms when chickens don’t have enough elbow room (or whatever is the chicken equivalent of elbows).  So it should be no surprise when the treatment of workers in China becomes a focal point.

Made-in-China is taking on the image of high tech sweatshops.

And that made-in-China label is very visibly, very publicly tarnishing Apple’s image.  A few days ago it was the NY Time’s big headlines on the human cost of iPads.  Before that it was a Times story on the iPhone.   The NY Times stories have been picked up and amplified across the media.  Here’s Bob Garfield writing in Adage.com.  Bob Garfield on the rot in Apple’s image

Will these revelations slow down the pace of Apple’s sales?  I doubt it.  But it will hurt Apple’s image in several important areas, particularly recruitment of the best and brightest and regulatory scrutiny.

This is an example of why reinventing the marketing model must include corporate image and corporate reputation.  Nike learned it the hard way and is now an exemplar.  The new reality in North America and Europe is that we want to know about the people and values of companies, not just the prices and products.


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