Author: tincremo

Recently, stores have made a stand to close on Thanksgiving and Black Friday.  Every year it seems like more stores give their employees Thanksgiving off and opt out of the Black Friday madness.  An article by the American Marketing Association explains the benefit of closing on Thanksgiving.  Not only is it good for the morale of the customers, it’s good for marketing.

More companies should take this stand.  Thanksgiving should be spent with family and friends.  Giving employees the day off will have such a positive impact on the employees and the company.

https://www.ama.org/career/Pages/day-off-thanksgiving-good-employees-good-marketing.aspx

Can we please talk about this Snoop Dog and Martha Stewart combo?!  I first heard about this show on Facebook.  Actually, I only heard about this show on Facebook.  Unfortunately, I don’t have VH1, so I couldn’t watch it, or record it to watch it.

I’m aware of Martha Stewart because my stepmother is a fan, then, of course, that whole insider trading thing happened.  Snoop will always have a special place in my heart because when I was younger, his song was chosen for my gymnastics (tumbling) team’s recital performance.  I’ve been aware of his existence since that recital.

So what’s the deal with this new show?  Well, Martha Stewart’s publicly traded company was bought out in June 2015.  She needed a new image, or at least to mix her image up.  What better way to do that than to start a cooking show with pot smoking, rapper Snoop Dog.  The previews for the show made me laugh out loud, because parts were unexpected.  Stewart is still prim and proper, which makes their banter so comical.

Snoop Dog seems to be doing well.  This partnership gives him an opportunity to “expand his cannabis lifestyle brand Merry Jane”.  This partnership is smart.  The advertisement was debuted on Facebook, which was also smart because, well when is that last time you watched VH1?  Well, 1.7 million viewers tuned in for its premiere Monday night.  This was VH1’s top series debut since January.  Using Facebook, and probably other social media sites, worked.

http://www.salon.com/2016/11/04/the-weird-high-magic-of-martha-and-snoops-potluck-dinner-party/

‘Martha & Snoop’s Potluck Dinner Party’ Off To Solid Ratings Start At VH1

Millennials want authenticity, experiences, collaboration, and solutions to world problems.  The blog at:

http://blog.hubspot.com/marketing/marketing-to-millennials#sm.000ojxm5dvd1eb211f81otpnrrx9s

describes 8 ways to market to millennials.  The article talks about what millennials are looking for in advertising and how to reach them.  Once I realized this blog was not an article, I searched for an article.

The article at:

https://www.entrepreneur.com/article/246199

focused on 3 aspects of marketing to millennials.  The Entrepreneur article talked about the importance of mobile marketing, targeting social groups (not life stages), and being relevant and engaging; which seems a lot like authenticity.

Knowing how to market to millennials is important and while there are several companies that have been marketing to them, Springfield Armory has taken it to another level.  The company’s history alone is pretty awesome, and millennials like a story.  Springfield Armory doesn’t stop there.  They have a “defend your legacy” campaign, which is pretty brilliant seeing how millennials are stereotyped (or not) as being narcissistic.  The campaign has short stories, video included, of 8 people, 8 millennials.  They are diverse in race, gender, demographics, and experiences.  However, they all want to defend their legacy.

Springfield Armory has integrated many of the suggested marketing tips the blog and article mentioned.  The campaign aligns with the company’s release of their new rifle.  The campaign is fresh, authentic, and will probably be successful.

http://www.defendyourlegacy.com/people/

 

In an interview, the marketing VP for M&M’s, Berta De Pablos-Barbier, told Diana Bradley that for M&M’s 75th anniversary, the marketing department is trying to do something every month to celebrate.  I don’t follow M&M’s on social media, and I haven’t noticed many commercials about the brand, so I’m not sure how successful this campaign is.  Maybe they aren’t marketing to my age group, or figure I’m already a consumer, which I am on occasion.  I do recall Red Nose Day earlier in the year, and have noticed the retro packages at the grocery store.  However, I had no idea there was a launch of “The Candy Man”.  A song that reimagined the Sammy Davis Junior’s 1972 version.  The company collaborated with Zedd and Aloe Blacc for the remake.  I was able to find the video online, and enjoyed how the old M&M commercials were included.  However, I had no idea this was on the web, or that M&M’s turned 75 this year.

http://www.prweek.com/article/1396611/cmo-q-a-75-year-old-brand-m-ms-keeps-its-marketing-going-stale

 

In the text book, chapter 10 addresses services and speaks to the importance of customer-service.  Customer relationships builds loyalty, and customer service is part of that relationship.  Due to the increase in self-service technologies, customer interactions are less frequent.  When the interactions occur, it needs to be positive.  The article, Customer Care is Your Best Marketing Strategy, talks about the importance of customer care and how technology is changing the frequency of customer interactions.  Customer service isn’t only important for customer loyalty, but also for positive reviews on the internet.  Posting experiences is easier now than ever before, and are increasingly accessible.  A negative review can prevent a consumer from even trying a product or service.  Now, more than ever, those interactions with customers are important.

Customers are not only the consumers, but the employees of the company as well.  If the employees are satisfied with the company and understand how they are part of the company, then they will be able to portray that towards the customers.  The article made an interesting point that the people in marketing are not usually the ones interacting with the customer.  So it’s important to communicate customer service skills to the frontline employees.

https://www.entrepreneur.com/article/254834

 

I came across this article the other day, Baby Boomer Women Remain Invisible to Marketers.  The article appealed to me because my aunt is a baby boomer and she references her generation frequently.  I’m pretty sure it is the impact that the boomers had/have on society that intrigues her so much about her generation.  The article explains how boomers are a big part of our society and that they should be marketed to more frequently because of their spending potential.  Companies are missing out on a large demographic.  Simply look at the numbers from the Dove campaign:

“The Dove “Campaign for Real Beauty,” launched by Unilever in 2004, featured women of all shapes, ages and races. Within the first two months of the campaign’s launch, product sales rose 600% in the U.S.”

I started to consider what my aunt consumes.  She went to graduate school and received her degree when she turned 50.  Her and her husband have always had relatively new technology.  They enjoy music, so they have quality speakers and a large collection of CDs.  I’m sure they have a tremendous digital library of music.  Other than technology, I don’t really know where they spend.  They aren’t foodies, they don’t vacation much, except to visit family.  Maybe if there were more products marketed to women like my aunt, I could tell you more about the products she consumes.

In an earlier blog I spoke about investing and how Edward Jones doesn’t market well to the recently graduated, new career demographic very realistically.  Additionally, they certainly don’t market to the boomers, who are, at this stage in life, probably empty-nesters, if they ever had children to begin with.  They are well into their careers and some are educated.  Women boomers are another demographic that should not be ignored by investment firms.

Last night, I sent the article to my aunt.  She said that she never noticed women boomers were being ignored by marketing.  I followed up by asking if she notices, now that it’s been brought to her attention.  She said she’d let me know today.

 

https://www.ama.org/publications/MarketingNews/Pages/baby-boomer-women-remain-invisible-to-marketers.aspx

About a year ago, Volkswagen was exposed for the device that cheated the emissions test.  Now, the company has released #PinkBeetle. That’s the cars official name, #PinkBeetle, the first vehicle to be named with a hashtag.  The vehicle is advertised on social media and that’s where the demand for the vehicle started.

While the company is certainly paying for its indiscretion, it took a new approach to customer demand and launching a new product.  Using Facebook as a platform to advertise the new Beetle is pretty smart.  Also, of all of their vehicles, the Beetle is most iconic and probably has a loyal following.

Of course, this isn’t the first time the Beetle has made advertisement history.  The “Lemon” advertisement was popular in the 1960s.  In fact, the ad came about because Volkswagen was trying to figure out how to sell Hitler’s favorite car only 15 years after WWII.  I suppose Volkswagen hopes that lighting will strike twice.

Lemon

http://www.adweek.com/adfreak/official-name-volkswagens-new-car-hashtag-pinkbeetle-173738

Ikea hired a company to do market research on the American dream.  Turns out, the American dream is more about experiences than possessions.  Which doesn’t sound very positive for a store that sells a bunch of furniture, but Lars Petersson, the president of Ikea U.S., sees the opportunity.

Lars basically pitches that Ikea’s furniture is built for the experiences that Americans desire.  He references the experience of sitting around a kitchen table with the family, and how that is part of the American dream.  I wonder if that same family ever put a piece of Ikea furniture together, and how that experience was for them.

I was surprised, which maybe I shouldn’t have been, that Lars didn’t speak too much about how Ikea has inexpensive furniture; and, because of that, Ikea customers would have more money to spend on experiences.  Like travel.  I guess nobody wants to call their products cheap.  Lars spoke more to the company’s sustainability efforts, including recycling Ikea furniture, which is an initiative that is practiced more in the homeland of Ikea.

Overall, I thought this interview was interesting and very clever.  Lars didn’t call Ikea cheap.  He talked up the cafeteria, mentioning Swedish meatballs and salmon.  Because when I want salmon, I definitely go to Ikea.  NO!  Lars didn’t seem too phased by the “getting lost in Ikea” frustration that the interviewer mentioned.  It was like he had an answer to everything.  Maybe that’s why he’s president of Ikea U.S.

http://www.marketplace.org/2016/09/20/business/ikea-peak-stuff-american-dream

Recently I saw an Edward Jones commercial, showing a young woman video chatting with her dad and his financial advisor.  The young woman completed her first week of…work I assume, and the group was preparing to discuss her financial goals.  Namely, how to pay back her dad (haha).

In the same week that I saw the commercial, I read an article about 5 investment myths.  One of the myths is that you have to have a lot of money to invest.  Which is not true, ergo, a myth.

From the commercial, it looks like the young woman lives in a decent sized apartment in a city (expensive).  The Edward Jones building is likely in a skyscraper (expensive and intimidating).  I happen to invest with Edward Jones, and sometimes there’s a homeless man escaping the rain right outside the door to the small, first floor office.  Come to think of it, it’s the only floor in that building.  This office is in Tacoma, Washington…lots of wetness in those parts.  Anyways, this commercial doesn’t do anything to debunk the myth that you have to have a lot of money to invest.  Or that it’s something you can do by your own accord.  Student loans are high and not everyone, me for instance, was raised with the knowledge of investing.  The amount of debt people have coming out of college in absurd.  While investment companies may prefer to promote to the wealthy, they are missing a large opportunity to get young investors started early.  With large student loan debt, will come vast amounts of educated individuals looking to make decent money (hopefully).  I don’t understand why investment companies are not A) trying to debunk the myth that you have to have a lot of money to invest, and B) promoting their services to students, moving back in with their parents while they start their careers.  I’m pretty sure the percentage of the latter is greater than the percent of graduates who have it all figured out.  Additionally, since her dad is in the office, she was obviously raised understanding the benefits of investing.

About a month ago, my friend asked if she should do a Roth or Traditional 401(k) with her company.  I asked my financial advisor and, not only did he provide me his opinion (he said Traditional), he also told me that if my friends were interested in investing, the initial “commitment” he would ask for is $50 a month with intentions to increase that amount per year!  Not everyone does this, but doesn’t it make sense?  Get educated, career driven people to invest early, and over time you’ll have a good volume of clients making and investing decent amounts of money.

Another issue in this equation is getting my friends to reach out to my financial advisor, or any financial advisor.  Starting the journey through the unknown is scary, and it’s much easier to avoid it.  However, if the advertisements related more to this demographic, the process of investing might not be so intimidating.

Video: https://www.ispot.tv/ad/Anov/edward-jones-first-week

Myths article: http://finance.yahoo.com/news/5-common-costly-investing-myths-040000557.html;_ylt=AwrBEiTVwwlU2iAAB8eTmYlQ.

The other day I was listening to a This American Life podcast, episode #591: Get Your Money’s Worth. One of the segments talked about L.L. Bean’s satisfaction guarantee. Apparently, the company will take back any of their products and issue a store credit. The first person that was interviewed returned a pair of 15 year old hiking boots that were worn out. He was issued a store credit, and bought a new pair of boots. This person is a school principal. One customer returned a half-eaten cookie and another returned a few 40 year old shirts. Sure, maybe the cookie was legitimately, unsatisfying, and it took a few bites to figure it out; but is it worth the $5 to return it? The older gentleman, with the 40 year old shirts, would apparently only be satisfied if the shirts lasted FOREVER. As I was getting ready to type that there’s nothing in my closet from 40 years ago, I realized, if there was, it would have be made years before I was even born. So my oldest article of clothing, a long sleeve, threadbare, tennis shirt from high school is about 16 years old.

Anyways, can you imagine being the customer service person receiving these ridiculous returns?! Well, L.L. Bean realizes it’s a difficult job and is careful to make sure the individuals who fill these positions are able to put their personal beliefs and judgements aside. Their faces and tone must remain neutral while used sheets, dog collars, and worn slippers make their way into the return pile.

The company obviously established this guarantee to market the quality of their product, one of the traditional four Ps, this type of marketing worked, and they began to build a loyal customer base. However, due to the way the guarantee is being used, (or rather, taken advantage of) the company is now using one of the modern four Ps, people. The employees don’t shame the individual or place judgement upon them (at least not openly). Customers are treated like any other loyal L.L. Bean customer. After all, one individual said they were going to sell their store credit online so that they can buy oil to heat their house. We all have different needs…and wants.