Tag Archives: Marketing and Advertising

October 10, 2014 · 10:46 am

Who Are You?

Our Foodie Friday Fun this week starts at Taco Bell. No, this is not another rant on quick service restaurant food.

Taco Bell

In fact, I happen to enjoy it from time to time. Today’s screed is about a new product at Taco Bell: the Starburst Freeze. “Starburst,” you say, “isn’t that candy?” Why yes. Taco Bell is selling a candy-flavored slush that, in the words of an Eater story, kind of looks like icy Pepto-Bismol. Yummy!

Putting aside the appropriateness of any food business selling what looks like something to relieve indigestion, there is another point this product raises.  Obviously this is a cobranded item.  Cobranding is not uncommon in business.  Some examples include Crest Plus Scope, Tide Plus Febreeze and Dawn Plus Olay – all brands owned by Proctor & Gamble and there are numerous products involving to discrete companies as well.  That’s not my issue.

Taco Bell is pseudo Tex-Mex food.  While we can debate the merits of a Doritos Cheesy Gordita Crunch, the inclusion of Doritos – a corn chip arising from Mexican food if one digs deeply enough – makes sense.  It relates to the core positioning of the brand.  It fits on the menu.  Strawberry Starbursts?  Not so much.  Other freeze drinks on their menu – one with Dr. Pepper and another with Mountain Dew – sort of make sense – they’re based on soda served ubiquitously.  If the shake was a chocolate candy and had cinnamon, almonds and chipotle, one could argue they were being extremely authentic to the brand since that’s a very Mexican shake.  Maybe they should have paired with Almond Joy?

Any time we add products we run the risk of diluting our core brand perception. Trying to be all things to everyone just means we slide toward commodity status.  We need to state who we are as brands and do nothing that makes the consumer wonder if that initial brand statement is still true.  If they’re asking “who are you?” we’re in trouble. Unless you enjoy competing on price alone, which is how commodities sell.

The simple test here is to ask someone where would one expect to buy a Gordita and where one might buy a Strawberry Starburst Freeze.  My guess is you wouldn’t get the same place in response to the question which tells me that the latter item doesn’t belong.

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October 8, 2014 · 10:30 am

The Road To Understanding

A piece from the eMarketer group caught my eye yesterday.  The headline was Marketers Can’t Avoid Technology Anymore.

Figure 1: Simple schematic for a data warehous...

(Photo credit: Wikipedia)

Off the top of my head it made me wonder who exactly was trying to avoid it since there isn’t a single company that comes to mind where technology isn’t sort of a big deal.  As it turns out, the article was about a subset of tech, big data, and how professionals need to up marketing technology investments if they hope to make sense of this data as well as to focus on integrating technologies and data across channels..  No doubt with a big caveat.

This hints at the issue:

April 2014 research by Accenture also found big data was top of mind for the majority of executives worldwide, with 59% saying it was extremely important. Of course, technologies are needed to make sense of and combine all of this information, and Accenture noted that using such tools to understand big data could transform an entire enterprise—if done correctly.

It’s the “done correctly” part that’s the caveat.  The road to understanding doesn’t begin with technology.  It doesn’t begin with a fully integrated series of systems or a huge data warehouse.  It starts with something much simpler that’s often overlooked.  It starts with some basic questions.

  • What do we need to know?
  • Why do we want to know it?
  • Once we know it, what actions can we take to use it to grow our business?
  • How is what we have going to improve our relationship with our customers?
  • When prospects encounter us, whether online or off, which of these data points will help us convert them to customers?

My guess, based on a fair number of experiences, is that many of the aforementioned companies are just puking up data instead of using the data to develop actionable business information.  The eMarketer piece concludes this way:

Companies that avoid implementing and using marketing technology to make sense of data have an uncertain future. Nearly 80% of execs agreed that companies that did not embrace big data would lose their competitive advantage—and possibly face extinction.

I agree with that but if they don’t do the above while traveling the road to understanding and having asked some questions before they embrace and develop big data, extinction is just as likely.

What’s been your experience with this?

 

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October 7, 2014 · 11:06 am

Look Through The Windshield

Today’s wake up call comes from the good folks at Hubspot.  They do a report each year on their area of expertise which is inbound marketing.  What the heck is that?  Well, you’re sort of reading some now, since the screed is not just a way for me to blow excess verbiage out of my system but also a way for people who might need some help with their business to see how I think and where I can help.  Company blogs (yes, I’m a company) are a form as are corporate social media and SEO.  Inbound marketing is just a fancy way to describe content companies put out there to attract the right customers and to generate leads.

Hubspot’s report – The 2014 State of Inbound Report reviews how companies are using this marketing form.  It contains the aforementioned wakeup call as they discuss measuring ROI – return on investment of those activities:

Given the compounding benefits of measuring ROI, you’d assume most marketers would list it as their top initiative. Surprisingly, very few marketers — even marketing leadership — are prioritizing it. Only 15% of marketers ranked “proving the ROI of our marketing activities” as their #1 marketing priority and a little over half (53%) of marketers we surveyed are measuring ROI.

Yikes.  Almost half aren’t even attempting to figure out if what they’re doing is providing them with the desired results.  Marketers should have a clear way to measure success otherwise how can they allocate resources in a manner that maximizes the benefits of their marketing efforts?

I wish I could say I’m surprised but I’m not.  The “newness” of new media seems to obfuscate the fact that part of the benefit of digital is that it is highly measurable.  It’s not just knowing for the sake of knowing either.  As the report says, marketers that measure ROI are 12X more likely to generate a greater return year-over-year than a lower return. In other words, simply the act of measuring ROI correlates with positive results. 

You wouldn’t drive a car without looking through the windshield.  Not measuring the results of, and return from, your marketing or any other business activity is doing just that.  While driverless cars may almost be here, business activities will never become that way.  If we don’t look out the windshield we’re heading for a wreck.  Thoughts?

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