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Seminar at Carnegie Mellon Masters of Entertainment Industry Management Program 11/8/13
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WHAT IS A BRAND?
IT’S A CONCEPT THAT GOES ALL THE WAY BACK TO 2000 BCE
AND TO OUR OWN ANCIENT HISTORY
WHAT IT’S NOT
IS A
LOGO!
Ceci n’est pas une brand. (This is not a brand)
THESE ARE NOT BRANDS EITHER
A LOGO IS A “SIGN” WHICH MEANS THAT IT
STANDS FOR SOMETHING
A LOGO OR LOGOTYPE IS “DESIGN SPEAK” FOR A TRADEMARK MADE
FROM A CUSTOM-‐LETTERED WORD AND CAN BE A SYMBOL,
MONOGRAM, EMBLEM
OR OTHER GRAPHIC DEVICE
A BRAND USED TO BE AN ASSET
OWNED BY A COMPANY
TODAY, IT’S AN EMOTIONAL
IMPRESSION OR
IDEA THAT SURROUNDS A UNIQUE IDENTITY
FROM SOAP TO CELEBRITY
A BRAND IS NOT A PRODUCT
IT’S A PERSON’S GUT FEELING ABOUT A PRODUCT, SERVICE OR COMPANY
A BRAND IS A KIND OF PLATONIC IDEAL—A CONCEPT SHARED BY SOCIETY TO IDENTIFY A SPECIFIC CLASS OF THINGS
THE WORD “BRAND” ORIGINALLY COMES FROM THE MIDDLE ENGLISH TERM
MEANING
“TORCH”
BRAND DEFINED?
LIKE ITS NAMESAKE, A BRAND CAN EITHER
LIGHT THE WAY
FOR CUSTOMERS TO SOLVE A PROBLEM OR
SHINE A HIGHLIGHT ON VALUE
OR …it can be exSnguished by a lack of oxygen
BRAND HAS BEEN DEFINED IN MANY WAYS
• As a promise that consumers believe in • An image in the consumer’s mind • An essence that has social & cultural relevance • An iden7ty that can evoke an emoSonal response
• A defini7on of what a product stands for • A sign or “mark” that has meaning • A design that encourages trust
IN THIS “AGE OF PERSUASION’ A BRAND IS
COMPLEX AND CAN BE: AN IMAGE A BADGE
OR A WORD IN THE MIND
THE EVOLUTION OF CURRENCY MIRRORS
è è è
THE EVOLUTION OF TRUST
...AND TRUST IS THE BEDROCK OF MODERN BRANDING
A BRAND HAS
EQUITY
It can be safely said that Coca-‐Cola’s total market value is more an emo$onal quanSty, than a physical one. Hard assets like bocling plants, trucks, raw materials, and buildings are not as important to Coke—or Wall Street, for that macer—as the consumer goodwill that exists around the world toward the brand. Bedbury 2002
Coke’s Market Cap including brand value: $120 Billion
Without the brand, Coke’s Glass Would be Half Empty
Coke’s Market Cap Not including Brand Value: $50 Billion
BRAND DIFFERENTIATION
How is it accomplished?
By acaching a powerful IDEA to a brand
THE BRAND STORY
The brand narra;ve should serve to personalize it.
My image is a statement of the symbols of the harsh, impersonal products and brash materialisSc objects on which America is built today. It is a projecSon of everything that can be bought and sold, the pracScal impermanent symbols that sustain us. Andy Warhol
ADVERTISING DEFINED From the La;n, “To Turn Toward”
……is
• ONE SUBSET OF MARKETING
• THE ACT OF BRINGING A PRODUCT OR SERVICE TO THE PUBLIC’S ATTENTION
• AND OFTEN USING PAID ANNOUNCEMENTS OR
COMMERCIALS
We receive a bombardment of 3000-‐5000 media messages daily
MARKETING DEFINED
From the La;n, “TO BUY”, markeSng refers to all or part of the PROCESS
of:
èCONCEIVING èPROMOTING èDISTRIBUTING èSELLING A PRODUCT OR SERVICE
THE TRANSFORMED MEDIA AND MARKETING LANDSCAPE
THE 4 KEY TRANSFORMERS
» INTERACTIVITY » PERSONALIZATION » IMMEDIACY » COMMUNITY
INTERACTIVITY
• Audience members, consumers, clients, prospecSve customers are all now called “users”
• The expected experience is no longer the lean-‐back one of the television living room, but lean-‐forward of PC, tablet & mobile
• Users expect to have a say & the ability to interact with & manipulate her or his personal media environment
PERSONALIZATION
• From MySpace to iPhone to Facebook & LinkedIn Profiles, digital media is now super-‐charged with the capability of incorporaSng the INDIVIDUAL & the PERSONAL
• From branding & iconography to collaboraSve filtering, CHOICE & having OPTIONS are the way of the digital world
• This feature has brought the issue of personal PRIVACY to the forefront of public & media policy
IMMEDIACY • The web offers INSTANT GRATIFICATION that can be addicSve from enhanced, INSTANTANEOUS shopping experiences like Amazon’s “one-‐click” buy bucon to streaming media of sites like Nemlix.com and Hulu.com
• YouTube streaming now accounts for one fourth of the Web’s daily traffic has made NET NEUTRALITY another major issue confronSng law makers and media giants
• Twicer is now a major source of breaking news with 2500 TWEETS PER SECOND ½ BILLION TWEETS A DAY
• GPS and GEOLOCATION services have transformed the mobile phone into a community device & data goldmine
COMMUNITY • The SPECIALIZATION of human experience is now capable of being web channeled into affiniSes of every special interest imaginable
• Through the power of NETWORKING, like-‐minded individuals can find each other by just a click-‐through in a search window, a “friend” or a “follow”
• These COMMUNITIES also relate to business interests & can be linked together via corporate or brand “networks” & can be leveraged for ongoing distribuSon of content, offers, press releases, etc.
TWO KEY MEDIA TRENDS
✔ THE SHIFT IN MEDIA DISTRIBUTION
✔ THE COMING GENERATIONAL SHIFT
THE DISTRIBUTION SHIFT • Peer-‐to-‐peer & social network sharing to crowd sourcing & user generated content, distribuSon once in the hands of media companies is now run by “user distributors”
• The trend is toward distributed authority of the flat organizaSonal model where decision-‐making authority is at the edge & an example of corporate reacSon to this new empowerment of the individual
• Even savvy companies like Amazon, Pizza Hut, BP have been caught up in the grassfire of negaSve blogging campaigns & have evolved the corporate blog as pre-‐emp;ve brand strategy
GENERATIONAL SHIFT
• ConvenSonal wisdom says the dominant forces that will transform media & markeSng will come from the introducSon of new technologies & changes in the means of distribu;on
• The most powerful transformaSve agent of change will be a coming genera;onal shiQ
• Now evident in the advent of mulS-‐tasking, social media & mobile adopSon, the dominance of short-‐form video formats
What is social?
IF YOU GOOGLE “SOCIAL”
2 BILLION RESULTS
WHAT IS “SOCIALE”? Borrowed from the LaSn via Middle French and routed in the Mother Tongue it originally
meant “united or living with others” or “companion”
“TO FOLLOW”…
The LaSn root of social is sequi which means “to follow.” So, here in a nutshell is where the Twicer transiSve verb, “to follow”, finds its first use. If we search sSll further, we come upon its link to the Old Icelandic seggr meaning “companion or man”… and ulSmately to the mother tongue load in Sanskrit where, as sakha, it simply means “friend”
IN THE FUTURE WE WILL ALL HAVE 15+ “FRIENDS”
Andy Warhol did not say that. But here, we arrive at root origin of the Facebook transiSve verb, “to friend”, closing the loop of a word that we use everyday to describe the expanding communicaSon ripples that bind, link, and otherwise connect us with a click…
MARKETING BACKGROUND
CONSUMER DRIVEN MARKETING Content is sSll king and the driving force behind markeSng tools. But, today’s dominant model adds consumer power to tradiSonal markeSng creaSng:
Ø LOWER COST FOR OUTREACH Ø MORE AUTHENTICITY Ø MORE EFFICIENCIES Ø ONGOING CUSTOMER RELATIONSHIP VS. BRAND “PUSH”
Or as David Ogilvy once said:
“The consumer isn’t a moron. She is your wife.”
DIGITAL MARKETING BENEFITS
• Digital Channels generate Informa$on that can be used for more dynamic brand management
• Digital Immediacy enables companies to be more responsive to consumers & the marketplace
• Viral aspect of New Media allows reaching audiences faster & more efficiently
• Virality means digital reach not necessarily correlated with ad spend
OTHER DIGITAL MARKETING BENEFITS
• Compelling Content allows marketers to Interact with far more customers than can be afforded by tradiSonal media
• Digital Channels allow Direct Dialogue & conversaSon with Customers
• Yields more & becer tuned Informa$on about consumers needs and preferences
• Customer Engagement is more powerful when they are parScipants with the brand
• Analy$cs & Op$miza$on reduce latency, inefficiencies in markeSng programs
WORD OF MOUTH MARKETING WOM used to be “person-‐to-‐person”. Now, it’s community-‐driven and requires markeSng tacScs that: • Make friends among the talkers • Finds out what they’re talking about • Gives them topics to talk more about • USlize the best tools to convey the message • Listen to, then allow the brand to join in the conversaSon • Track what customers are saying about the company • Are responsive & provide constant, expanding value • Are REAL
TRADITIONAL PURCHASE STAGES
• TV, RADIO • OUT-‐OF-‐DOOR • DIRECT MAIL • BROCHURE • PRODUCT TEST • COMPARISON • IN-‐STORE PURCHASE • REWARD POINTS
NETWORKED PURCHASE STAGES
• SEARCH • PRODUCT BUZZ • BLOGS • ONLINE RESEARCH • PEER REVIEWS • YOUTUBE VIDEO • MASHUPS
THE NEW PURCHASE FUNNEL
• ADVOCACY • LOYALTY • ACTION • PREFERENCE • CONSIDERATION • AWARENESS • VALUE
THE BRAND PLATFORM • Chief strategic objecSve is to build an integrated brand plamorm
that combines tradi;onal PR and outreach with best of breed digital markeSng tacScs.
• The plamorm integrates key corporate funcSons and processes
using technology to idenSfy and aggregate in one place all interacSons with customers, prospects, and media outlets.
• The goal of the plamorm is to find out who is talking about the
company or topics close to it, and get informaSon to people in the company to take appropriate acSon.
• The addiSon of a social media plamorm as part of the overall brand plamorm is a relaSvely recent addiSon to corporate technology infrastructure.
TWITTER VISUALIZED
THE BIRDS AND THE BEES DO IT
IDENTIFY OPTIMAL CHANNELS
BUILDING THE “NETWORK” ObjecSve is to develop cross plamorm communicaSons and markeSng “pipeline” that can be uSlized on an ongoing basis (as opposed to tradiSonal ad hoc/event-‐oriented PR approach): • IDENTIFY INDUSTRY/TRADE INFLUENCERS (uSlizing Visible
Technologies, Radian6, Buzzlogic type applicaSons) • IDENTIFY KEY AFFINITY GROUPS • CONNECT THROUGH SOCIAL MEDIA CHANNELS • CONTRIBUTE COMMENTARY TO CONVERSATION • CONTRIBUTE VALUABLE CONTENT • INTEGRATE DIGITAL MEDIA WITH REAL WORLD EVENTS,
PR, MARKETING EFFORTS
VIDEO SEEDING
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BRAND REPUTATION MANAGEMENT Monitor search engines and social media for negaSve brand menSons and respond: PROACTIVE GOALS: • CreaSve posiSve content in search engines, social media & related channels to keep posiSve brand content creaSon as an ongoing effort
REACTIVE GOALS: • Monitor for negaSve menSons • IdenSfy & report negaSve content & Creators • Respond, comment/counter comment
“THE FUTURE IS THE FUTURE IS THE PRESENT.” MARSHALL MCLUHAN
WHAT GETS MEASURED, GETS DONE. Old Business Saying
Just because you can measure it doesn’t mean it macers. Oliver Blanchard Measuring Social ROI
MEASUREMENT
What are criScal deliverables?
Key Performance Indicators:
• Growth Rate of New Customers • Growth Rate by Month • Growth of InsStuSonal Investment • Seasonal Growth • Effect of Media Choices on Monthly Growth Rate • Impact of Messaging • Impact of Original Content on Growth
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$Pages$Indexed$(Cum)$
$Messages$Sent$(Cum)$
$iTunes$Rank$
“LINCOLN” CAMPAIGN GROWTH"
iTunes ranking compared to broadcast spots and pages indexed!
ANALYTICS
Key analyScs: • Data Captured • Email Addresses • Mobile Phone #’s • Snailmail Addresses • Sales Leads • Brand Awareness
THERE ARE 1349 CAMERAS ON THE MARKET.
HOW DO YOU DECIDE WHICH ONE TO BUY?
FREUD ON MAD AVE
SAY “HELLO” TO NEUROMARKETING
THE FUTURE IN SHORT IS fMRI
YOU ARE THE DATA
HAVE A NICE DAY!
Acknowledgements
Marty Neumeier Marshall McLuhan Patrick Renvoise & Christophe Morin Paddy Spinks & Nick Turner Elizabeth Gebhardt Relishmix.com Buzcast.com Mediablitzz Keith Boesky