28 July 2020
Author: Daniel Lally
There’s a saying among litigators that goes something like this: If the facts are on your side, pound the facts. If the law is on your side, pound the law. If neither is on your side, pound the table. The thing about that maxim is that it works equally well as a mocking review of almost any argument with which you disagree, or as pretty solid career advice for anyone who aspires to persuade people for a living. Like lawyers. Or advertisers. That’s because marketing strategy depends on having a conversation with your customers that is both relevant to them and highlights the specific benefits of your brand. In the late 1960s, major home appliances like washing machines had become harder for advertisers to differentiate. The performance and features offered by the big manufacturers were pretty comparable, particularly when it came to higher-end models. But one copywriter at Leo Burnett found a way to frame the purchasing decision in a way that ensured his client would definitely stand out. The insight pointed out the worst part of owning a major appliance was when it stopped working. Other, larger competitors pointed to their national networks of factory-trained repair technicians, but based on that insight, they were making the wrong case. And so, the Maytag Repairman came to be. With a single idea, Maytag changed the conversation from which machine was bigger or got whites brighter to which one you could actually depend on. Framed that way, Maytag would continue to chip away at the market share of its much larger competitors for another 35 years or so, when one of them finally gave in and bought the company. Combine a new insight with a creative idea and you’ve got a powerful force. These are the proverbial unicorns—those truly revolutionary products that are exactly what everybody wanted or needed and just didn’t know it until a new gizmo came along. This week in particular, air conditioning comes to mind. But if your brand has real competition, and your customers have real options, you’ll likely benefit from framing the discussion to the context that best suits your benefits. Which conversation you decide to have can make all the difference.
09 July 2020
https://stgregory.com/wp-content/uploads/2020/07/SGG_Zoom_Call_v12.mp4 Since the novel coronavirus became the story of the year, many of us have wondered how the new normal we eventually return to will be different from what we knew before. One of the lessons the great quarantine of 2020 taught us was how to use technology for remote learning or meetings, as well as for business and consumer transactions. It’s not like the technology was exactly new. There’s almost nobody in management or marketing who wouldn’t say they’d been through more than enough webinars or video presentations in their life. But when it became the normal way of communicating with your team at the office, your kid’s teachers and even the local car dealership, things got real. If you tried to upgrade your teleconference equipment in the first weeks of April, it was apparent that many of us had already begun to see video conferencing as a long-term trend—the major online players were all but completely sold out of custom-focus webcams and deep-resonance microphones. A cottage industry of downloadable custom backgrounds sprang up overnight and if you already owned a green screen … well, why, exactly? But you just about owned the weekly staff meeting. So is more common video conferencing going to be one lasting effect of COVID-19? Absolutely. People now are much more comfortable with the technology. For many, the added experience gives more confidence that we can actually drive the technology, rather than simply submit to it. That means many routine business meetings are likely to stay on video platforms, even after social distancing. But it also means that when an auto dealership or a jeweler or your financial planner invites you to a quick video demonstration, you’re more likely to be comfortable with the experience—and respond positively. The other side of that equation, of course, is that if you are operating as one of the competitors to that car dealer, jewelry store or financial adviser, you’d better be ready to do the same. Early movers will only have an advantage until other marketers catch up. This doesn’t mean that retail stores, car lots or conference rooms are going away anytime soon. As we’ve said before, personal interaction is a basic human need. But at least for the preliminaries … or the follow-up conversations … if a video chat isn’t as personal as a visit, it’s more intimate than phone call or an email. And the barriers to that technology are coming down. This post is part of a series on marketing during and after the pandemic. To read the others, follow this link.
02 July 2020
Author: Natalie Shawver
Purpose: it’s a big deal. To individuals, to businesses, to brands, to life. If you look at life under a microscope lately, you’ll see some pretty intense things. The proverbial petri dish is full—overflowing, some might say. In between the COVID-19 global crisis, we’re grappling with longstanding issues of racism and inequality that have led to protests and social media blackouts. The volatility is increasing … and the microorganisms we’re watching are multiplying. With those facts in play, your brand’s purpose is an even bigger deal. No longer can it remain exactly the same—businesses must shift to be more inclusive of current events, and leadership at all levels has to answer some tough questions. Consumers aren’t satisfied with simply reading a mission statement on your website. They want to know the actions you’re taking to support social justice-oriented movements and why they should remain faithful to you. And, most important, they want it to be crystal clear. There’s no time for questions. Don’t dance a jig. Either you take a stand on important issues … or you’ll be left in the dust. The days of neutrality are over. However, if there’s one thing all business leaders can agree on, it’s that the recent pandemic has united us in one way that most of us have not seen before. Our livelihood purpose is common; therefore, our business purpose must rise to meet it. Even before COVID-19, this paradigm of purpose as a driving factor for profit has been in the spotlight. In 2019, more than 180 chief executives from the Business Roundtable shared a provocative statement that the purpose of a corporation should be to help other stakeholders such as employees, the environment and ethical suppliers. The board was so serious that it decided to create a special committee to advance racial equality and justice solutions this month. Still not convinced that a defined purpose is imperative to profitability? A recent global study reveals that when consumers think a brand has a strong purpose, they are: 4 times more likely to purchase from the company 6 times more likely to protect the company in the event of a misstep or public criticism 5 times more likely to champion the company and recommend it to friends and family 1 times more likely to trust the company But it isn’t just any consumer. If your brand isn’t going after millennials, you may want to abandon your marketing strategy altogether—76% of them want to see CEOs actively using their platform to address important social issues. If you aren’t delivering on this promise, you’re leaving money on the table (aka consumers won’t be donning masks in your stores or calling you for your service). Forty-three percent of consumers walk away from a brand when left disappointed by that brand’s words or actions on a social issue. Let that one sink in. So how do you shift or redefine your purpose in a time of uncertainty? Maybe you scratch it altogether and start anew. First things first: stay relevant as the world changes. Purchase patterns have drastically changed from basic-needs-only toward ethically-purchased-only. What is your company doing to be present and not stuck in the past? Second, take thoughtful action. Whether you speak out on social media about specific issues in the news or make philanthropic donations to in-need organizations, you’ve got to do something. After all, there’s nothing more powerful than purpose. This post is part of a series on marketing during and after the pandemic. To read the others, follow this link.