tag:econsultancy.com,2008:/topics/strategy Latest Strategy content from Econsultancy 2017-11-16T10:00:00+00:00 tag:econsultancy.com,2008:BlogPost/69581 2017-11-16T10:00:00+00:00 2017-11-16T10:00:00+00:00 Four reasons you may need to rebrand your business Nikki Gilliland <p>Then again, if executed correctly, rebranding can result in far superior benefits. Here’s a run-down of some of the biggest advantages, along with a few examples of companies that have successfully rebranded (or are currently in the midst of doing so). </p> <h3>To reach a new demographic</h3> <p>It’s easy for brands to get put into a box, especially if they have been around for a long time. They might only be remembered for a particular advertising campaign, or thought of in relation to a certain age range or demographic.</p> <p>Old Spice is one example of a brand that suffered with this issue, largely due to its stereotypically-macho advertising campaigns from the 1950’s. It also tended to use older gentlemen in its ads, leading to the common assumption that it a deodorant brand only your dad or grandad would use.</p> <p>In order to combat this preconception, Old Spice decided to rebrand in 2010, rolling out a <a href="https://econsultancy.com/blog/67102-the-dangerous-art-of-using-humour-in-marketing" target="_blank">humour-driven ad campaign</a> to engage a younger audience. Using the tagline “smell like a man, man” – it amusingly repositioned itself as a product for desirable younger men. It also cleverly aired its first advert during the coveted Super Bowl time-slot – ideal for reaching its new target market.</p> <p><iframe src="https://www.youtube.com/embed/owGykVbfgUE?wmode=transparent" width="854" height="480"></iframe></p> <p>Since its rebrand, Old Spice has further built on its youthful image, releasing a slew of campaigns in a funny, quirky, and offbeat tone. It’s resulted in success too, with the sales of the brand jumping significantly after the first campaign. </p> <h3>To repair a reputation</h3> <p>Bad press used to be known as tomorrow’s fish and chip paper. However, today’s digitally-focused world means that negative social sentiment and reviews can stick around much longer, gradually damaging a brand’s reputation in the long-term.</p> <p>Even worse when a documentary examining the effects of its product gains popularity. This happened to McDonalds with the release of Supersize Me, which fuelled negativity towards to the brand relating to issues like nutritional value and how it markets to children.</p> <p>Combined with reports of meagre wages and unfair hours, McDonalds found itself losing out to competitors like Chipotle.</p> <p><img src="https://assets.econsultancy.com/images/0009/0484/supersize_me.JPG" alt="" width="400" height="573"></p> <p>While it did not undertake a typical rebrand – as neither its logo or brand design changed – McDonalds did attempt to counteract this by implementing changes both internally and externally over the course of 18 months. </p> <p>First, it started to tweak its menu, promoting the high-quality nature of its beef and placing greater focus on salads and other healthy menu options. It also launched the ‘Our Food, Your Questions’ campaign, which was centred around answering specific concerns and worries over the production and nutritional value of its food.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Have a question about our food? The floor is yours. <a href="http://t.co/T9W0r3CQVK">http://t.co/T9W0r3CQVK</a></p> — McDonald's (@McDonalds) <a href="https://twitter.com/McDonalds/status/521676837429080064?ref_src=twsrc%5Etfw">October 13, 2014</a> </blockquote> <p>Interestingly, McDonalds’ rebranding exercise did not come to an end with this campaign. In the past few years, it has continued to make changes in order to reposition itself as a relevant and modern fast food chain. From stripped-back packaging to new cashless technology in restaurants, its continual evolution shows that ‘rebranding’ can be a subtle and ongoing process.</p> <h3>To reclaim a brand identity</h3> <p>Instead of a brand’s own wrong-doing, reputations can sometimes be damaged due to negative associations with a certain type of consumer. Burberry is one of the most high-profile examples of this, with the once-premium fashion label becoming more associated with ‘chav culture’ throughout the late nineties and early noughties.</p> <p>Another is Stella Artois, whose ‘reassuringly expensive’ brand promise (meaning that it was premium, but worth a higher price point) clashed with retailer’s marketing strategies. In order to increase footfall, supermarkets began to sell cans of Stella – which was also known to be of a higher alcohol percentage) at <a href="https://econsultancy.com/blog/64782-how-to-use-discounting-without-harming-your-business" target="_blank">heavily discounted prices</a>. As a result, Stella became associated with binge drinking culture, chosen by ‘lager louts’ for its strength and cheap price point.</p> <p>In order to re-establish and strengthen its original brand purpose, Stella created a new range of beers under the softer Artois name. With a new 4% lager, it counteracted associations with binge drinking, and introduced a cider option to attract a wider audience.</p> <p>Following on from this, Stella Artois also launched the ‘Thing of Beauty’ campaign to re-claim its premium status. This was particularly clever, as instead of changing the product itself, it aimed to change the way consumers drank it. Its ‘9 step preparation’ element emphasised that it is a drink to be savoured. Meanwhile, with ads depicting sophisticated and smartly-dressed drinkers, it began to re-align itself with a luxury lifestyle and turn away from laddish culture.</p> <p><iframe src="https://www.youtube.com/embed/s6_h0HUSZ_Y?wmode=transparent" width="854" height="480"></iframe></p> <h3>To boost sales</h3> <p>Rebranding can also be an effective way to differentiate a company in a competitive market, giving consumers a reason to choose it over a rival – especially if sales are dwindling.</p> <p>Two of America’s largest retail chains, Target and Walmart, are both based around offering customers good value. Previously, Target has used its brand communication in order to create a point of difference, telling consumers that they can “Expect More. Pay Less”. This helps to instil confidence in consumers, and in comparison with Walmart’s “Save Money. Live Better”, also promotes the idea that its products are of a better quality.</p> <p>However, Target has been suffering from poor sales in recent months, announcing recently that it will execute a new brand strategy to claim back market share. In the face of increasing competition from Amazon, it is set to discontinues a number of its most famous brand lines, and introduce 12 new ones including an athleisure line and homeware. Meanwhile, It’s also remodelling its US stores to give customers a better and more streamlined shopping experience. </p> <p>Will the strategy work? This remains to be seen, but with other retailers like Sears and JC Penney shutting down stores in the face of dwindling sales – Target is clearly hoping a bold rebrand will be the key to winning back consumer favour.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Today’s the day! <a href="https://twitter.com/hashtag/HearthAndHand?src=hash&amp;ref_src=twsrc%5Etfw">#HearthAndHand</a> with Magnolia is available <a href="https://twitter.com/Target?ref_src=twsrc%5Etfw">@Target</a> &amp; on their website! We had fun designing it &amp; can’t wait for you to see! <a href="https://t.co/q2dL3PNv3Z">pic.twitter.com/q2dL3PNv3Z</a></p> — Joanna Gaines (@joannagaines) <a href="https://twitter.com/joannagaines/status/927190486187757570?ref_src=twsrc%5Etfw">November 5, 2017</a> </blockquote> <p><em><strong>Related reading</strong>:</em></p> <ul> <li><em><a href="https://www.econsultancy.com/blog/68402-boss-life-how-avon-is-rebranding-to-target-a-new-generation">Boss life: How Avon is rebranding to target a new generation</a></em></li> <li><em><a href="https://econsultancy.com/blog/63099-five-tips-for-a-successful-rebrand/">Five tips for a successful rebrand</a></em></li> </ul> tag:econsultancy.com,2008:TrainingDate/3370 2017-11-13T04:14:31+00:00 2017-11-13T04:14:31+00:00 Content Marketing for Web, Mobile and Social Media - Malaysia <p>Brands are increasingly turning to content driven marketing strategies to gain marketplace attention and increase customer engagement in a multi-channel environment. For your marketing to be effective, you will need to provide content that’s useful to your customers and that advances your business objectives in a measurable way. It is also vital to create high engagement by building and maintaining a community around your content.</p> <p>The discipline of content marketing provides the framework for ensuring that your content delivers on these essential requirements across all relevant traditional and digital platforms. In addition to covering the basic principles of content marketing, this 2-day workshop seeks to address the challenges of marketers in developing a content strategy and help marketers to create a realistic and sustainable content plan.</p> tag:econsultancy.com,2008:TrainingDate/3369 2017-11-13T04:11:00+00:00 2017-11-13T04:11:00+00:00 Content Marketing for Web, Mobile and Social Media - Singapore <p>Brands are increasingly turning to content driven marketing strategies to gain marketplace attention and increase customer engagement in a multi-channel environment. For your marketing to be effective, you will need to provide content that’s useful to your customers and that advances your business objectives in a measurable way. It is also vital to create high engagement by building and maintaining a community around your content. </p> <p>The discipline of content marketing provides the framework for ensuring that your content delivers on these essential requirements across all relevant traditional and digital platforms. In addition to covering the basic principles of content marketing, this 2-day workshop seeks to address the challenges of marketers in developing a content strategy and help marketers to create a realistic and sustainable content plan.</p> tag:econsultancy.com,2008:TrainingDate/3361 2017-11-13T03:34:20+00:00 2017-11-13T03:34:20+00:00 Content Marketing for Web, Mobile and Social Media - Malaysia <p>Brands are increasingly turning to content driven marketing strategies to gain marketplace attention and increase customer engagement in a multi-channel environment. For your marketing to be effective, you will need to provide content that’s useful to your customers and that advances your business objectives in a measurable way. It is also vital to create high engagement by building and maintaining a community around your content.</p> <p>The discipline of content marketing provides the framework for ensuring that your content delivers on these essential requirements across all relevant traditional and digital platforms. In addition to covering the basic principles of content marketing, this 2-day workshop seeks to address the challenges of marketers in developing a content strategy and help marketers to create a realistic and sustainable content plan.</p> tag:econsultancy.com,2008:TrainingDate/3357 2017-11-13T03:13:38+00:00 2017-11-13T03:13:38+00:00 Content Marketing for Web, Mobile and Social Media - Singapore <p>Brands are increasingly turning to content driven marketing strategies to gain marketplace attention and increase customer engagement in a multi-channel environment. For your marketing to be effective, you will need to provide content that’s useful to your customers and that advances your business objectives in a measurable way. It is also vital to create high engagement by building and maintaining a community around your content. </p> <p>The discipline of content marketing provides the framework for ensuring that your content delivers on these essential requirements across all relevant traditional and digital platforms. In addition to covering the basic principles of content marketing, this 2-day workshop seeks to address the challenges of marketers in developing a content strategy and help marketers to create a realistic and sustainable content plan.</p> tag:econsultancy.com,2008:BlogPost/69565 2017-11-06T13:30:00+00:00 2017-11-06T13:30:00+00:00 From zero to CMO: Five essential steps Jeff Rajeck <p>But the road to the top isn't always clear and many wonder what it takes to become a CMO. Is it just a matter of becoming a great marketer and then applying for the position when there is an opening?</p> <p>Apparently not, according to Damien Cummings, former CMO and currently CEO of Peoplewave. At our recent Digital Intelligence Briefing in Singapore, Damien dispelled myths about how people get to the top of the marketing chart and laid out the five steps all aspiring CMOs must go through to even be considered for the position.</p> <h3>Step 1: Understand the CMO's job</h3> <p>The role of the CMO is not, according to Damien, just the top marketing manager. Instead, the CMO is now expected to be the CGO, or chief growth officer<strong>.</strong></p> <p>This means that the CMO, in addition to leading marketing, must also know how to grow the company's business, and this requires a whole different set of skills.</p> <p>Those who are aiming to be a CMO in the future, then, need to understand all aspects of the business: </p> <ul> <li>Sales</li> <li>Go-to-market</li> <li>Market share</li> <li>Margin</li> <li>Customer acquisition</li> <li>Customer experience </li> </ul> <p>And they also need to know how to plan and execute strategies which take each of these disciplines into consideration.</p> <p>So the first thing to know is that the CMO role is not just about being a great marketer. You must be an excellent business strategist as well.</p> <p><img src="https://assets.econsultancy.com/images/0009/0200/becoming_CMO_1.jpg" alt="" width="800" height="533"></p> <h3>Step 2: Know the whole marketing career path</h3> <p>Damien continued by explaining that there are four phases of a marketing career and aspiring CMOs must ideally experience each of them on their way to the top.</p> <h4>Entry level</h4> <p>First off, there is entry-level marketing. Most people start here and have a basic understanding of marketing principles and how digital fits in.</p> <p>In order to move on from this phase, though, marketers who want to be CMO must be curious and treat their entry-level experience as an expansive learning experience.</p> <h4>Mid-career</h4> <p>After around 5 to 10 years on the job, marketers may find that they are not actually doing much marketing. Instead, they have outsourced their jobs and are busy managing staff and agency partners who are responsible for most of the creative, placement, and analytics.</p> <p>Marketers looking for a CMO spot one day should, at this stage, develop a laser-like focus on customer acquisition metrics and be able to talk at length about related costs on various channels</p> <h4>Senior marketer</h4> <p>After 10 years, marketers gunning for the CMO role will have moved on from managing day-to-day marketing and be more focused on brand leadership, customer experience, and providing inspiration to other marketers.</p> <p>Senior marketers should also be able to write and execute a marketing plan, not just aim to hit sales targets.</p> <p>Additionally, those wanting to be promoted should be known for something besides customer metrics in the organisation. They should associate themselves with projects such as digital transformation, new data initiatives, or proving marketing return on investment (ROI).</p> <h4>CMO</h4> <p>Then, at the fourth stage, the aspiring marketer reaches their goal and is the chief marketing officer.</p> <p>This role is very different from the three which precede it as the focus of the CMO, as mentioned previously, is on growing the company's top and bottom line as well as managing change throughout the organisations.</p> <p>Those who desire this job must realize that being a CMO requires crafting long-term (5 to 10 years) plans and delivering it using large-scale project management, often encompassing the whole organisation. Those who lack a passion for managing enterprise-wide projects may want to rethink their career goals.</p> <p><img src="https://assets.econsultancy.com/images/0009/0202/becoming_CMO_3.jpg" alt="" width="800" height="533"></p> <h3>Step 3: Acquire the required soft skills</h3> <p>Besides knowing the career path, marketers who want to be considered for a CMO role need to be strong in three areas:</p> <h4>a) Vision</h4> <p>This includes setting short and long-term targets and explaining complex strategies through frameworks</p> <h4>b) Leadership</h4> <p>CMO candidates should always be able to do the job of everyone on the team - and be able to put aside their management hat and do them on a moment's notice.  At the same, they need to be a thought leader and one step ahead of everyone else.</p> <h4>c) Digital outlook</h4> <p>Nowadays, marketers aiming for the top need to be digitally savvy and be considered a leader in their company's digital transformation programme, never a follower.</p> <h3>Step 4: Talk the language of data</h3> <p>Moving on from everyday tasks and soft skills, CMO-bound marketers should also lead company-wide initiatives to make data an essential part of marketing.</p> <p>They need to do the work which makes data: </p> <ul> <li> <strong>Real-time:</strong> So that marketers can get digital, social, marketing, sales, and service data on a real-time basis.</li> <li> <strong>Aggregated:</strong> So that data is available on desktop and mobile and can be used to make decisions wherever marketers are</li> <li> <strong>Visual:</strong> Because if data is not seen, it is not used.</li> <li> <strong>Physical:</strong> Finally, marketers should put data at the centre of your sales, marketing and service centres.   </li> </ul> <p>True leaders in this space often push for a 'command centre' which brings together brand marketers, agency partners, and data display for social and web analytics.</p> <p><img src="https://assets.econsultancy.com/images/0009/0203/becoming_CMO_2.jpg" alt="" width="800" height="533"></p> <h3>Step 5: Be ready to lead change management</h3> <p>Damien's final point was that the CMO is the most likely person in an organisation to lead digital transformation because they will typically have flexible budgets, a customer focus, and the ability to run small tests unlike the CEO, CTO, or CIO.</p> <p>But leading change means more than knowing how to spend budget. One of the most important parts of leading the change is to have the soft skills (see above) to foresee who in the organisation will be the loser due to the change process and then work hard to make sure they will still have a place in the transformed company.</p> <p>Having this level of personal influence and leadership requires that aspiring CMOs have strong communication skills and that their leadership style is, perhaps ironically, more personal and less digital.</p> <h3>A word of thanks</h3> <p>Econsultancy would like to thank Damien Cummings, CEO of Peoplewave, for his excellent presentation on the steps required for marketers to become a CMO.</p> <p>We'd also like to thank all of the marketers who attended the presentation and helped with this post by asking many intelligent questions.</p> <p>We hope to see you all at future Econsultancy events!</p> <p><img src="https://assets.econsultancy.com/images/0008/9938/3.jpg" alt=""></p> tag:econsultancy.com,2008:TrainingDate/3257 2017-10-26T11:54:23+01:00 2017-10-26T11:54:23+01:00 Content Strategy & Editorial Planning <p>Great content sells – it will build your brand and boost your business.  Our 1-day Content Strategy, Editorial Planning &amp; Content Calendars training course will help you to define and produce the content that will help your organisation succeed!</p> <p>On the day, you’ll learn about our unique 7-step process and  get our exclusive templates for: Strategy Statements, Content Audits, Content Requests, Content Briefs and Content Calendars!</p> tag:econsultancy.com,2008:TrainingDate/3254 2017-10-26T11:51:01+01:00 2017-10-26T11:51:01+01:00 Content Marketing for Web, Mobile and Social <p>For your digital marketing to be effective you need to provide content that’s useful to your customers and that advances your business objectives in a measurable way. It is also vital to create high engagement by building and maintaining a community around your content. As users spend an increasing amount of time on a range of social media channels, brands need to understand where their users are most active and how they can interact and engage with them most effectively. </p> <p>All of this requires careful analysis and planning. The disciplines of content strategy provides the framework for ensuring that your content delivers on these essential requirements across all relevant digital platforms.</p> tag:econsultancy.com,2008:TrainingDate/3251 2017-10-23T09:23:27+01:00 2017-10-23T09:23:27+01:00 GDPR Essentials - Online <p>At Econsultancy, we're not just trainers; we're also passionate researchers, analysts, consultants and most importantly, practitioners. And that means the insight and content available to you in our online training will be completely up to date and relevant.</p> <p>This online course will help you learn everything you need to know about the General Data Protection Regulation (GDPR) before it comes into force in May 2018, and crucially: what to do about it.</p> tag:econsultancy.com,2008:BlogPost/69491 2017-10-17T10:00:00+01:00 2017-10-17T10:00:00+01:00 Why digital out-of-home advertising is not really digital (yet) Nick Hammond <p>With this investment comes greater impact (e.g. increasing use of video), flexibility and of course income for the vendors. Alongside this burgeoning focus on digital creative delivery, there is attention on how the medium could be sold more efficiently – more like other digital channels and less like traditional out of home. </p> <p>Moving from a cost-per-panel approach and with access to more detailed, real time audience information on the horizon (rather than periodic panel data) the ability to trade on an audience model isn’t far off. For example, in Canada Outfront Media has launched its own real-time analytics platform, having agreed a partnership with mobile network Cellint.</p> <p>By tapping into available data, the platform will allow tracking of hourly impression numbers, including the proportion of those that are unique views. In the UK Transport for London has a considerable amount of data garnered from 5.6m mobile phones connected to Wi-Fi on the Tube. This mobile data can be used to track interchanges, and even walking routes and platform use within a station.</p> <p><img src="https://assets.econsultancy.com/images/0008/9753/dooh.jpg" alt="" width="470" height="353"></p> <p>Whilst these developments provide considerable opportunities for advertisers and OOH vendors alike, a recent piece <a href="http://www.campaignlive.co.uk/article/jcdecaux-we-ensure-outdoor-doesnt-fall-pitfalls-digital-media/1446445?bulletin=campaign_breakfast_briefing&amp;utm_medium=EMAIL&amp;utm_campaign=eNews%20Bulletin&amp;utm_source=20171005&amp;utm_content=Campaign%20Breakfast%20">in Campaign</a> highlights how out of home’s convergence with the digital world could have its downsides. </p> <p>OOH vendor JCDecaux has launched a brand charter which is seeking to avoid problems that have been plaguing the mainstream digital sector. These include accountability, viewability, measurability, transparency and brand safety. JCDecaux commented at launch, 'we must ensure outdoor doesn't fall into the pitfalls of digital media'.</p> <p>This charter aims to set a gold standard of best practice across the digital out-of-home industry and in this brave new world JCDecaux will ensure its metrics and measurements are independently verified by Price Waterhouse Coopers; who will provide a quarterly compliance report to ensure transparency.</p> <p>This is an interesting development as out of home has a history of being one of the more opaque advertising channels in terms of the buying process, audience measurement and invoicing.</p> <h3>OOH automation </h3> <p>In the UK, digital buying practices are moving into the OOH sector in the shape of increased automation. </p> <p>From the Campaign piece – ‘Also mirroring the wider digital market, JCDecaux has launched a new external smartsuite platform, SmartBRICS, which allows advertisers and agencies to place their own DOOH campaigns for the first time. The platform has been used internally for the past two years but (now).. will be available to external users through an API. Users will now be able to plan, budget and create their own campaigns based on the platforms in-depth rules and filters on its dashboard.’ </p> <p>So, what are the challenges and opportunities for digital practitioners? We are already seeing digital experts’ influence spreading across traditional channels such as TV, which is increasingly being bought <a href="http://www.thedrum.com/opinion/2017/06/13/get-ready-programmatic-tv-advertising">in an automated fashion</a> (see <a href="https://www.skyadsmart.co.uk/">Sky AdSmart</a>), and this is beginning to happen with OOH as well, as observed above.</p> <p>Clever recent activational examples in DOOH were featured in <a href="https://econsultancy.com/blog/69100-six-clever-examples-of-what-dynamic-outdoor-advertising-can-do">this Econsultancy piece</a>. I particularly liked the FT’s use of digital billboards at Heathrow’s Terminal 5 to target passengers travelling to six pre-selected US cities. It was achieved by tapping into Heathrow's flight data via an API.</p> <p><img src="https://assets.econsultancy.com/images/0008/9752/FT_heathrow.jpg" alt="" width="568" height="400"></p> <p>Guinness devised a dynamic campaign in London that allowed posters to direct RBS 6 Nations fans to nearby pubs to watch the games. </p> <h3>Is DOOH digital?</h3> <p>So, just how digital is digital out of home? For DOOH to become fully digital in terms of trading (as well as delivery of creative), the key area will be around improved audience assessment. It is achieving this, which will allow a mainstream programmatic digital approach including real-time bidding, behavioural and contextual targeting.</p> <p>Because of the size of the OOH medium, the variety of locations and the challenge and cost of quantifying and assessing audience behaviour, the measurement of OOH has traditionally been restricted to periodic panel research – OSCAR, then <a href="https://www.research-live.com/article/news/postar-to-measure-90-of-outdoor-media/id/2000079">POSTAR</a>, and now <a href="http://route.org.uk/research/">ROUTE</a>.</p> <p>The resultant audience information is therefore nowhere as detailed and current as that available across other digital channels. JCDecaux’s charter is well timed, especially in terms of brand safety, but from an audience perspective the PWC verification is only happening on a quarterly basis.  </p> <p>For DOOH to really align with digital media, it will need to achieve accurate, real time, detailed consumption data that can fuel truly digital trading methodologies.</p> <p><strong><em>For more on this topic, see:</em></strong></p> <ul> <li><a href="https://www.econsultancy.com/blog/68051-six-case-studies-that-show-how-digital-out-of-home-advertising-is-changing"><em>Six case studies that show how digital out-of-home advertising is changing</em></a></li> <li><a href="https://econsultancy.com/blog/67414-is-this-the-next-step-in-programmatic-out-of-home"><em>Is this the next step in programmatic out-of-home?</em></a></li> </ul>