When I was working on Molson and Labatt and Coca-Cola, it was imperative you had a youth strategy, as youth consumed a pile of your product. Working on Intel in China we were concerned with youth and the need to get them earlier to build brand relevance beyond the laptop. However, in no case can I remember having an elder strategy, a strategy to tap into the desires, needs and wants of the 50+ consumer. Well today all brands need to think about building one.
It is said that in 2009, 46% of Apple's consumer base was older than 55. We know that in the US, 46% of cars, and 80% of luxury travel is sold to the 60+ demographic. An old colleague of mine from FCB in Toronto, for some time now has run a successful business selling luxury items to the 50+ market. I know Johnson&Johnson and Afexa Life Sciences (the Cold-FX people and a client of mine) always keep a close eye on the elder market when developing new products. These two organizations, for obvious reasons, recognise that an ageing consumer base in most of the worlds key markets means health care will be high on their need list. I believe though, that all brands need to take a look at how their product and services can be better positioned to be consumed by this massive 50+ demographic. This baby boomer group will change pre and post retirement mind-sets just as it has changed everything else they have touched. So ask yourself and your brand, what do you know about the older consumer as it relates to your business. Are you relevant to them now, and if not can you be relevant to them going forward.
On BrandVertising (my WebTV show on branding and advertising) I recently focused on the issue of the ageing consumer with my guest Dave McCaughan, the Director of Strategy for McCann Worldgroup in Asia Pacific. Check out the show below and start now to build your elder strategy!
Monday, June 6, 2011
Thursday, June 2, 2011
More Juice Around The Future of The Ad Agency
I was reading today in Campaign Asia about the intense pressure marketers are feeling to continue to come up with the next big idea. They are trying to stay relevant to a consumer base that is rapidly getting smarter and more savvy every minute. This means they are looking to anyone, including their customers for ideas. No longer are their AOR agency partners the holy grail of ideas, and this is sending shock waves through New York, London, Chicago, Sydney, Singapore, Hong Kong, Shanghai and Los Angeles.
As past blogs I have written have eluded to, the game has changed because the consumer has changed. They carry the influence to persuade their community to act, and the traditional ad campaign is treated with the proverbial grain of salt. Advertising air cover is critical in the war to win the hearts and minds of consumers, but it is boots on the ground, the reality of the brand experience, that wins the war today. What is the brand doing as it actually engages and delivers to people. Is it a positive experience they will twitter about to their community, or will it be so counter to the big ad air cover that they will hold the brand hostage with negative WOM to their friends.
Never has the game been so exciting and played with so much at stake for those that used to dominate the brand building and idea generating world...the traditional big ad agency.
Click on the link below to read the Campaign Asia article.
http://www.campaignasia.com/Article/259364,pressure-mounts-as-agencies-search-for-the-next-big-idea.aspx
As past blogs I have written have eluded to, the game has changed because the consumer has changed. They carry the influence to persuade their community to act, and the traditional ad campaign is treated with the proverbial grain of salt. Advertising air cover is critical in the war to win the hearts and minds of consumers, but it is boots on the ground, the reality of the brand experience, that wins the war today. What is the brand doing as it actually engages and delivers to people. Is it a positive experience they will twitter about to their community, or will it be so counter to the big ad air cover that they will hold the brand hostage with negative WOM to their friends.
Never has the game been so exciting and played with so much at stake for those that used to dominate the brand building and idea generating world...the traditional big ad agency.
Click on the link below to read the Campaign Asia article.
http://www.campaignasia.com/Article/259364,pressure-mounts-as-agencies-search-for-the-next-big-idea.aspx
Thursday, May 19, 2011
The Life Blood of Product Development
Last week on my WebTV show called BrandVertising, I had a great chat with Timothy Lee (a client of mine from Afexa Life Sciences in Canada) about product innovation and development. The show highlighted that invention and innovation are not the same thing, look no further than apple to learn how to innovate versus invent.
We also talked about the fact that engaging with customers is the only way you can do any type of inventing or innovating. Which is why a recent Interbrand study that shows so few companies are engaging with their customers is even more shocking. How will products that are relevant be developed in these organizations?
Have a look at the show and see what were rated by LaunchTV as the best new products of 2010.
We also talked about the fact that engaging with customers is the only way you can do any type of inventing or innovating. Which is why a recent Interbrand study that shows so few companies are engaging with their customers is even more shocking. How will products that are relevant be developed in these organizations?
Have a look at the show and see what were rated by LaunchTV as the best new products of 2010.
Sunday, May 15, 2011
The Fear Of Failure...Again
A while back I blogged about the power of failure. http://bamboostrategy.blogspot.com/2010/10/what-ive-learned.html
Well it seems that the topic of getting stronger from failure is hot this week in blog land. The link from the brain pickings blog has four takes on failure from some creative thinkers. I share just one of them below.
What is your take on the role failure plays in creativity and life itself?
http://www.brainpickings.org/index.php/2011/05/12/fear-of-failure/
Paulo Coelho – on the fear of failure. from Berghs' Exhibition '11 on Vimeo.
Well it seems that the topic of getting stronger from failure is hot this week in blog land. The link from the brain pickings blog has four takes on failure from some creative thinkers. I share just one of them below.
What is your take on the role failure plays in creativity and life itself?
http://www.brainpickings.org/index.php/2011/05/12/fear-of-failure/
Paulo Coelho – on the fear of failure. from Berghs' Exhibition '11 on Vimeo.
Friday, May 6, 2011
I love a great logo.
Creative Review, the fantastic UK publication, in a recent blog listed the thoughts of some of the leading design firms in the world as they relate to the greatest logos ever.
Check it out of you love brands and their visual representation. One of my favourites is a Canadian icon CN, that is on the list of Identity Works, Tony Spaeth.
Click on the link and enjoy the read.
http://www.creativereview.co.uk/cr-blog/2011/may/logo-experts-contd
Check it out of you love brands and their visual representation. One of my favourites is a Canadian icon CN, that is on the list of Identity Works, Tony Spaeth.
Click on the link and enjoy the read.
http://www.creativereview.co.uk/cr-blog/2011/may/logo-experts-contd
Wow, 59% of Marketers Don't Believe in Being Relevant!
Being that my consultancy is all about relevancy of business and brands, I was kind of shocked to read an email from Interbrand that stated a recent study of theirs found that only 41% of brands think it's important to maintain relevance. As the graphic below from the Interbrand email also shows, only 37% of brands believe being responsive to customer needs and desires is important.
What can these marketing leaders be thinking? Did they miss marketing 101 where we learn that "marketing" is all about responding to the needs and desires of consumers? Are they asleep during this consumer empowerment revolution that technology is enabling? Do they not get that if your brand is not relevant, that means you don't matter, which in no way translates to future sales?
In the end, the Interbrand study reinforces the lack of understanding many marketers still have towards the importance of building dialogues with stakeholders. I would love to hear your take on what to me is a shockingly low level of marketer understanding.
 |
| Interbrand Marketers 2011 Survey |
What can these marketing leaders be thinking? Did they miss marketing 101 where we learn that "marketing" is all about responding to the needs and desires of consumers? Are they asleep during this consumer empowerment revolution that technology is enabling? Do they not get that if your brand is not relevant, that means you don't matter, which in no way translates to future sales?
In the end, the Interbrand study reinforces the lack of understanding many marketers still have towards the importance of building dialogues with stakeholders. I would love to hear your take on what to me is a shockingly low level of marketer understanding.
Wednesday, April 27, 2011
A good chat with Praveen Kenneth
Well a week back I completed another episode of my web TV show called BrandVertising on fusedlogic.tv. I am a little behind in blogging so I post the link to the insightful conversation I had with Praveen Kenneth. Praveen is the Chairman of Law & Kenneth, a boutique advertising agency with offices all over India. I worked with Praveen back in the late 1990's when I was running the Coca-Cola account for McCann Erickson in several parts of Asia Pacific.
Of the many interesting things we talked about, one that stood out was Praveen's belief that traditional agencies are somewhat stuck with the clothes they have been wearing for so very long, and it is very tough for clients to look at them in other clothes, mainly more business building partners than creative solution specialists.
Have a look at the program and let me know your thoughts. As well go to Praveen Kenneth's firms website to learn more about his agency. http://www.lawkenneth.in/
Of the many interesting things we talked about, one that stood out was Praveen's belief that traditional agencies are somewhat stuck with the clothes they have been wearing for so very long, and it is very tough for clients to look at them in other clothes, mainly more business building partners than creative solution specialists.
Have a look at the program and let me know your thoughts. As well go to Praveen Kenneth's firms website to learn more about his agency. http://www.lawkenneth.in/
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