Offlate I have come across many debates/articles/discussions about "The Power of Social Media" be it in the name of a Facebook or a Twitter or a My Space or a Linkedin. Everybody is gung ho about the concept and number of tweets or the likes on their twitter or facebook page respectively.
Reading all this, always gives me a feeling that I belong to the traditional lot of marketers, who is either ignorant about the new age media or do not understand power of social media or may be I'm still not confident of this media, whether it delivers or not. Because all I see/hear/read about the number of tweets or the likes but do not know if it is actually gets converted in the revenue for the respective companies.
Which leads me to another debate, that social media engages consumers with brands, allows brands to communicate to its target audience, and thus should not be looked or measured from purely sales or ROI perspective. I understand creating a brand or marketing a brand is not always linked to the sales or we don't always give into ROI. But at the same time, I'm also inquisitive about all the "Likes" we generate on Facebook. All those people who just simply click on "Like" do they really take so much of pain to go through the entire set of discussion?
I would like readers to comment and enlighten me with the Gyan on Social Media....
Wednesday, July 13, 2011
Thursday, October 21, 2010
Changing Landscapes..
We all know and accepted that Cricket and Films unites India. And no marks in guessing that marketers have exploited stars from both these genres to endorse variety of brands right from soap to cars to even social causes. And cricketers and actors have chipped in brilliantly with their star power and aura around them. We would have seen so many cases, wherein the common man is replaced by a star from either of this genre. Videocon Mobile is the latest example, who roped in Ritesh Deshmukh to promote its mobile services.
But suddenly in this cluttered and stereotypical space of brand endorsers, a estranged phenomenon happened. Flying Machine, an apparel brand from the house of Arvind Mills roped in Ankit Fadia as a new brand ambassador replacing Abhishek Bachchan. Ankit Fadia a very few of us would have heard of, is a new brand ambassador, Hacker by profession.
A professional hacker as a brand ambassador for an apparel brand...It is unusual and unheard of but that's the changing face of today's youth. So many things have been written about today's Indian youth...their lifestyle, approach towards life, their attitude....all these have impacted the way marketer is devising their strategy, but all these forms a cue and do not drive the entire campaign based on this insights....But Flying Machine is sure about its "eclectic state of mind and youth focused positioning".
But I guess its just the start and there is a long way to go before we have youth icons from different walks of life and who do not belong to Cricket and Films will actually take the center stage in brand and marketing space...
Saturday, September 13, 2008
Advertising during Recession
Wrigley Jr. (of Wrigley's chewing gum) was once traveling by a flight when a co-passenger recognized him, and asked him…“You are the owner of the most famous and successful chewing brand in the world, then why do you need to advertise?” “For the same reason just as we are currently flying at 30,000 feet above sea level, does the pilot switch off the aircraft engine?!”Wrigley Jr’s answer
Never take your foot off the pedal, Even if you are going through a recession.
How marketers react to recession in terms of advertising?
Marketers severely cut down on their advertising and media budgets OR rationalize their spends by shifting focus from traditional media & spending more on “accountable” & measurable media like digital and direct marketing / activation programs OR re-evaluate their media mix to seek ways to improve efficiency by moving to a cheaper media pitfalls.
Moving out of a media which effectively reaches the target!
However..Multiple studies confirms that the best strategy in terms of achieving long term ROI is to increase / maintain brand visibility during an economic down turn.
Fact is that brands who cut down spends during recession actually have to spend exponentially more to regain consumer mindshare when market sentiments change. Advertisers who maintained advt during recession continued to grow sales while those who cut flat-lined or lost business.
The least a brand can do if it cannot increase / maintain spend levels it should ensure SOV relative to it’s competing brands. Focus spends on strong high growth / return brands. *
Multiple case studies bear testimony that even if by advertising during a recession period does not necessarily translate into immediate sales…It actually creates a residual equity in the consumer mindspace. This eventually converts into sales and ensures higher growth rate for the brand when consumer sentiments change and spending resumes. The most expensive piece of asset that any brand has to own and maintain…Consumer mindspace and mindshare!
One should change frame of reference…Instead of seeing recession as an adversity one should see it as an opportunity…It helps to focus on their high priority markets during the downturn. It helps to reinforce a brand’s perceived value during recession
Never take your foot off the pedal, Even if you are going through a recession.
How marketers react to recession in terms of advertising?
Marketers severely cut down on their advertising and media budgets OR rationalize their spends by shifting focus from traditional media & spending more on “accountable” & measurable media like digital and direct marketing / activation programs OR re-evaluate their media mix to seek ways to improve efficiency by moving to a cheaper media pitfalls.
Moving out of a media which effectively reaches the target!
However..Multiple studies confirms that the best strategy in terms of achieving long term ROI is to increase / maintain brand visibility during an economic down turn.
Fact is that brands who cut down spends during recession actually have to spend exponentially more to regain consumer mindshare when market sentiments change. Advertisers who maintained advt during recession continued to grow sales while those who cut flat-lined or lost business.
The least a brand can do if it cannot increase / maintain spend levels it should ensure SOV relative to it’s competing brands. Focus spends on strong high growth / return brands. *
Multiple case studies bear testimony that even if by advertising during a recession period does not necessarily translate into immediate sales…It actually creates a residual equity in the consumer mindspace. This eventually converts into sales and ensures higher growth rate for the brand when consumer sentiments change and spending resumes. The most expensive piece of asset that any brand has to own and maintain…Consumer mindspace and mindshare!
One should change frame of reference…Instead of seeing recession as an adversity one should see it as an opportunity…It helps to focus on their high priority markets during the downturn. It helps to reinforce a brand’s perceived value during recession
During recession, advertised brands appear safer & more aspirational to consumers**
Summing up ....
Maintain SOV relative to competing brands. The key is to track their past media spending pre, during and post recession This will help us identify the prospects for selective targeting Reinforce a brand’s perceived valuePerceived value is closely related to the ratio between a brand’s SOV and SOM. Consumers are more likely to purchase a trusted and known brand. That level of trust is maintained via continued advertising support. Critically, this bond with the consumer is strengthened by advertising during a recession
A recent example of this cadre is Jet Airways, who has come up with a brand TVC featuring SRK in this adverse time for airline industry. When every airline is trying to save each and every penny, Jet Airways came with a brand TVC. The reason could be plenty, to capture the lost market share or to keep the leadership position going or to fight back Kingfisher etc. but the idea is they came up with a campaign during recession or tough time in airline industry.
Summing up ....
Maintain SOV relative to competing brands. The key is to track their past media spending pre, during and post recession This will help us identify the prospects for selective targeting Reinforce a brand’s perceived valuePerceived value is closely related to the ratio between a brand’s SOV and SOM. Consumers are more likely to purchase a trusted and known brand. That level of trust is maintained via continued advertising support. Critically, this bond with the consumer is strengthened by advertising during a recession
A recent example of this cadre is Jet Airways, who has come up with a brand TVC featuring SRK in this adverse time for airline industry. When every airline is trying to save each and every penny, Jet Airways came with a brand TVC. The reason could be plenty, to capture the lost market share or to keep the leadership position going or to fight back Kingfisher etc. but the idea is they came up with a campaign during recession or tough time in airline industry.
* Source: Millward Brown “Marketing During Recession, May 2008
** Source : Paul Dyson, D2D decisions , March’08
Moray Maclennan, Chairman M&C Saatchi Europe, “How to get ahead in recession”, Feb’08
Thursday, February 21, 2008
How Obama got his branding right?
Whether you are selling a politician or a product, your objective is exactly the same: build a brand in the prospect’s mind.
Firm beliefs: US presidential hopeful Barack Obama’s strategy of focusing on one word, ‘change’, worked brilliantly.
In the case of the politician, the brand can transcend several generations. There have been 38 presidents of the United States. Six of them have been related: John Adams and John Quincy Adams, Theodore Roosevelt and Franklin D. Roosevelt, and George Bush and George W. Bush.
Currently, Hillary Clinton is trying use the Clinton brand to do the same thing that George W. Bush did. She may well succeed. Clinton launched her campaign by focusing on “experience”. Not a bad idea, because it’s a word that differentiated her from her chief rival, Barack Obama.
While Clinton was clever, Obama was brilliant. He focused on the word “change”, a concept that matched the mood of the American public, yearning for change after seven years of Republican rule. Obama’s theme: “Change we can believe in.”
Almost immediately, Clinton realized her mistake and jumped on the change bandwagon. Her new theme: “Countdown to change.”
It’s too late. Today, Clinton looks like a follower instead of a leader. But, still, the Clinton brand is very strong so she still might achieve her goal. (Look at the power of the Gandhi brand in India.)
When George W. Bush ran for the Presidency in 2000, he called himself, “the compassionate conservative”. His opponent that year was Al Gore. What word did Gore try to pre-empt? I don’t know, and most voters didn’t, either. After he lost the election, Gore focused on a single concept, “global warming.” Today, he is one of the world’s best-known individuals, and a winner of a 2007 Nobel peace prize. Most politicians and companies ignore one of the most fundamental concepts in marketing: Own a word in the prospect’s mind.
If you want to run for office, if you want to launch a new brand, if you want to jump-start your business career, the first question to ask yourself is: “What word do I want to own in the minds of my prospects...” That would be an easy question to answer, except for the last part of the question, which is “... a word that nobody else
Whether you are selling a politician or a product, your objective is exactly the same: build a brand in the prospect’s mind.
Firm beliefs: US presidential hopeful Barack Obama’s strategy of focusing on one word, ‘change’, worked brilliantly.
In the case of the politician, the brand can transcend several generations. There have been 38 presidents of the United States. Six of them have been related: John Adams and John Quincy Adams, Theodore Roosevelt and Franklin D. Roosevelt, and George Bush and George W. Bush.
Currently, Hillary Clinton is trying use the Clinton brand to do the same thing that George W. Bush did. She may well succeed. Clinton launched her campaign by focusing on “experience”. Not a bad idea, because it’s a word that differentiated her from her chief rival, Barack Obama.
While Clinton was clever, Obama was brilliant. He focused on the word “change”, a concept that matched the mood of the American public, yearning for change after seven years of Republican rule. Obama’s theme: “Change we can believe in.”
Almost immediately, Clinton realized her mistake and jumped on the change bandwagon. Her new theme: “Countdown to change.”
It’s too late. Today, Clinton looks like a follower instead of a leader. But, still, the Clinton brand is very strong so she still might achieve her goal. (Look at the power of the Gandhi brand in India.)
When George W. Bush ran for the Presidency in 2000, he called himself, “the compassionate conservative”. His opponent that year was Al Gore. What word did Gore try to pre-empt? I don’t know, and most voters didn’t, either. After he lost the election, Gore focused on a single concept, “global warming.” Today, he is one of the world’s best-known individuals, and a winner of a 2007 Nobel peace prize. Most politicians and companies ignore one of the most fundamental concepts in marketing: Own a word in the prospect’s mind.
If you want to run for office, if you want to launch a new brand, if you want to jump-start your business career, the first question to ask yourself is: “What word do I want to own in the minds of my prospects...” That would be an easy question to answer, except for the last part of the question, which is “... a word that nobody else
* Article taken from Al Ries Publication.
Monday, February 4, 2008
OOH - Out Of Home Media
What is OOH?
One of the most difficult task for today's marketers is to reach the target audience without a wastage. Newspaper and Television forms the spine for any media plan but to reach that last leap, more and more media planners have started using OOH as an effective tool in their media plans.
OOH - Simply put, Out of Home media is a form of advertising/promotion that you come across when one is out of their homes. Billboards on the highways to promotion signage outside shops to digital screens in supermarkets & malls to mobile vans, etc all of these forms the part of hugely potential industry.
OOH slices 1.5% of the total advertisement spends of Rs. 207,095 mn industry in India says a research conducted by Zenith Optimedia. And this is expected to grow rapidly in coming years.
Unorganised Play
OOH industry in India is still in a very nascent stage. The industry today is fragmented and dominated by unorganised players. And as a result, it leads to a few problems like measurability and accountibility, costs, and availibility of the sites.
There are local players operating at different sectors and dominating the market, but since they operate locally, the national learning goes for a toss. Like one will find Bright Advertising in Mumbai, HET in Ahmedabad, so on and so forth.
Bigger players have started chipping in the industry, but they are busy ramping up the number of sites across different locations.
Biggies
Quite a few biggies have started pitching for OOH and currently in a phase to acquire sites.
Times OOH - The Times group has started its division Times OOH. Times OOH has already acquired sites at Mumbai and Delhi airports and they are extending their network to other cities like Kolkata, Pune, etc.
OOH Media - OOH Media claims to be the largest out of home television company. They are mainly into employing LCD screens at different locations like offices, malls, cafes, clubs, etc
Ogilvy Activations - A division from O&M specialises in OOH home activities for its client to achieve the last mile for their existing clients. They have started pitching individually for OOH campaigns as well.
There are many besides these players, a recent news broke in that Mr. Rupert Murdoch is all set to share OOH slice with its News Outdoor Group India. It has already bought bus shelters in Bangalore. Other players includes Jagran Solutions from Dainik Jagran Group, Laqshya Media, Madison's Madison Outdoor Media Services etc.
Reasons for Growth
The traditional media like newspaper and television are the back bone of any media plan but skyrocketing prices of these media and a lot of wastage pinches marketers hard. Hence marketers and media planners of the world started looking for alternative options. Growth in internet OOH and radio advertisements is one of the result of these shortcomings of TV and Print.
The another advantage which has been very well leveraged by marketers is localisation of the advertisement campaign. OOH allows marketers to reach and communicate with target audience with local taste in local language.
As compared to other media, OOH provides not just cheaper but effective solutions for marketers. With the technological advancement, not just static billboards but very effective audio-visuals helps the marketers to reach their target audience in newer and attractive fashion.
Further, a study conducted by Neilsen Media Research shows that there is a high recall of slogans on OOH media.
And one of the most important reason is the involvement it generates among the audience makes it really effective medium.
Consolidation
The process has been initiated in Mumbai to consolidate the OOH industry and introduce benchmarks and measurability factor. The biggies are coming together to work upon parameters like, costs, sites, measurability and benchmarking similar to other media.
But in short, OOH is here to stay and there is a long way to go ahead. It is very effective and efficient mode of communication, but it will always be used as a support medium alongwith TV and Print.
One of the most difficult task for today's marketers is to reach the target audience without a wastage. Newspaper and Television forms the spine for any media plan but to reach that last leap, more and more media planners have started using OOH as an effective tool in their media plans.
OOH - Simply put, Out of Home media is a form of advertising/promotion that you come across when one is out of their homes. Billboards on the highways to promotion signage outside shops to digital screens in supermarkets & malls to mobile vans, etc all of these forms the part of hugely potential industry.
OOH slices 1.5% of the total advertisement spends of Rs. 207,095 mn industry in India says a research conducted by Zenith Optimedia. And this is expected to grow rapidly in coming years.
Unorganised Play
OOH industry in India is still in a very nascent stage. The industry today is fragmented and dominated by unorganised players. And as a result, it leads to a few problems like measurability and accountibility, costs, and availibility of the sites.
There are local players operating at different sectors and dominating the market, but since they operate locally, the national learning goes for a toss. Like one will find Bright Advertising in Mumbai, HET in Ahmedabad, so on and so forth.
Bigger players have started chipping in the industry, but they are busy ramping up the number of sites across different locations.
Biggies
Quite a few biggies have started pitching for OOH and currently in a phase to acquire sites.
Times OOH - The Times group has started its division Times OOH. Times OOH has already acquired sites at Mumbai and Delhi airports and they are extending their network to other cities like Kolkata, Pune, etc.
OOH Media - OOH Media claims to be the largest out of home television company. They are mainly into employing LCD screens at different locations like offices, malls, cafes, clubs, etc
Ogilvy Activations - A division from O&M specialises in OOH home activities for its client to achieve the last mile for their existing clients. They have started pitching individually for OOH campaigns as well.
There are many besides these players, a recent news broke in that Mr. Rupert Murdoch is all set to share OOH slice with its News Outdoor Group India. It has already bought bus shelters in Bangalore. Other players includes Jagran Solutions from Dainik Jagran Group, Laqshya Media, Madison's Madison Outdoor Media Services etc.
Reasons for Growth
The traditional media like newspaper and television are the back bone of any media plan but skyrocketing prices of these media and a lot of wastage pinches marketers hard. Hence marketers and media planners of the world started looking for alternative options. Growth in internet OOH and radio advertisements is one of the result of these shortcomings of TV and Print.
The another advantage which has been very well leveraged by marketers is localisation of the advertisement campaign. OOH allows marketers to reach and communicate with target audience with local taste in local language.
As compared to other media, OOH provides not just cheaper but effective solutions for marketers. With the technological advancement, not just static billboards but very effective audio-visuals helps the marketers to reach their target audience in newer and attractive fashion.
Further, a study conducted by Neilsen Media Research shows that there is a high recall of slogans on OOH media.
And one of the most important reason is the involvement it generates among the audience makes it really effective medium.
Consolidation
The process has been initiated in Mumbai to consolidate the OOH industry and introduce benchmarks and measurability factor. The biggies are coming together to work upon parameters like, costs, sites, measurability and benchmarking similar to other media.
But in short, OOH is here to stay and there is a long way to go ahead. It is very effective and efficient mode of communication, but it will always be used as a support medium alongwith TV and Print.
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