Master the Art of Saying ‘No’ as a Brand Marketer

March 29, 2011 Leave a comment

Warren Buffett - The Oracle of Omaha

Legendary investor Warren Buffet once said, “The difference between successful people and very successful people is that very successful people say ‘no’ to almost everything.”

The same can be said for very successful brands and brand marketers—they have mastered the art of saying no.

Today, more than ever, there is enormous pressure on marketers to grow sales and market share. This means the temptation of new opportunities:

  • Targeting new market segments
  • Adding new products and line extensions
  • Abandoning tried and true methods for the latest ‘flavor of the week’

But wise is the marketer who adheres to the wisdom of the Oracle of Omaha. Sure, saying yes to these new opportunities could increase brand revenue in the short term, but are the long-term consequences really worth it?

What happens when you take a child the grocery store? They always find something they can’t live without. Would it be wise to continuously say yes and give into their every request? It would avoid the kicking and screaming in the short term, but doing so would reap the long term result of a child who is spoiled and undisciplined.

Please don’t misinterpret my post as an excuse to stay where you are, saying no to each and every new opportunity that comes your way. (Just ask Kodak how this worked out)

This is about saying no much, much more often. No to new opportunities. And no current business activities that are futile. Most importantly, it’s about making the right choices for your brand in the long run.

Filed under Branding, Focus Tagged with ,

Opposites Attract: How to Get Your Brand Noticed in a Crowded Market Space

February 15, 2011 Leave a comment

It’s has long been said that opposites attract. She’s a Democrat, he’s a Republican. She’s an artist, he’s an accountant. She’s extroverted, he’s introverted. They seem to be opposite in nearly every way…but  they are oddly, perfect for each other.

Why are people attracted to individuals who are opposite? Because these opposite individuals have something they need and currently don’t have.

This is one of the primary reasons that people are attracted to a specific brand. What is the secret to some of today’s most successful brands? It’s simply of matter of being the opposite.

Five Guys Burgers and Fries

Five Guys is the fastest-growing chain in the nation, with both year-over-year sales growth and number of locations surpassing the 50% mark last year. Founder Jerry Murrell shares what makes this chain different than other fast food burger chains.

  • No drive thru’s: They don’t do drive thru’s because it would take too long. Why? There burgers are made to order and you can choose from 17 toppings.
  • Food prices fluctuate: They don’t base there price on anything but margins. They raise prices to reflect whatever their food costs are.
  • No breakfast: Your not going to get any breakfast or coffee from Five Guys. Perhaps you can go for an early morning hot dog? Other than hot dogs, all you are going to get from Five Guys is burgers and fries.
  • Value relationships more than the bottom line: Murrell says “ we’ve had many of the same vendors since 1986. And they’re not the cheapest by a long shot. We stick with what we like.”

MUJI

I’m not sure you can be more of an opposite brand than Japanese retailer MUJI whose name translates as “no label, quality goods”.

With every brand pushing their logo, MUJI took an opposite approach with its no-logo policy and became the ‘No-Brand’ brand. They now have stores across Asia, Europe, and made the move to the U.S. in 2008.

Pepsi

Pepsi was one of the first to adopt this opposite approach. With Coca-Cola being the long-time market leader, in 1963 Pepsi smartly became the opposite. They painted Coca-Cola as the cola your parents drank, with Pepsi being the cola for the young and the ‘young at heart’ – the Pepsi Generation.

This campaign made Pepsi a formidable competitor for Coca-Cola, taking their U.S. market share from the low teens in the early 1960’s to 32% in 1990.

How can you be opposite? As Mae Tse-Tung so aptly put it:

“The best defense is to be consistent and stand for something, whereas the best offense is to find contradictions and exploit them”.

Filed under Branding, Competition, Marketing, Positioning Tagged with , , , , , ,

Brand Perception of Ford Soars, while Toyota’s Sours

January 6, 2011 Leave a comment

Ford is on fire…a good fire, not the Pinto “my car is on fire” sort.

Perception of the automaker is rising fast among car owners. Consumer Reports just released their 2011 Car Brand Perception Survey, which places Ford and Toyota in a dead heat for title of ‘most loved car brand’. Toyota and Ford had total scores of 147 points and 144 points, respectively; a margin that the magazine calls a “statistical dead heat”. (See all survey scores below)

The Detroit-based automaker would have led the survey if not for Toyota’s sizeable lead in the green category…but car buyers seem to be growing less concerned with how environmentally friendly their vehicles are. According to the magazine, “Ford excels in the factors that consumers say matter most: safety, quality and value”.

Many would claim that this closing of the quality gap is due largely to Toyota’s safety recalls in 2010. Certainly the grueling recalls damaged the Toyota image. However, Ford’s improving perception isn’t just a story of taking advantage of Toyota’s slip ups. Ford’s ascent is a result of doing many things right.

  • Turning down TARP funds
  • Putting focus on the core Ford brand (getting rid of Jaguar, Volvo, Land Rover, Mercury)
  • Creating a more appealing product
  • One Ford Plan that have led to cost savings
  • Innovative marketing
  • Consistency

This is a case of the sum is greater than the parts.

Over the past two years, Ford’s overall score in the survey has jumped 35 points, while Toyota’s score has fallen by 46 points. Only a couple years ago, Toyota’s score was at 193. That means Ford’s current score of 144, though an impressive improvement, still has plenty of room to get better.

Filed under Brand Perception, Branding, Competition, Strategy Tagged with , , ,

Democracy is Good for America, But it Will Kill Your Brand

November 3, 2010 Leave a comment

Yesterday, we saw a historic election where the American people voiced their displeasure with the direction of our country. Much like in 2008, they voted for a change.

Let us never forget that government is ourselves and not an alien power over us. The ultimate rulers of our democracy are not a President and senators and congressmen and government officials, but the voters of this country.
− Franklin D. Roosevelt

This political process is what makes America great and continues to uphold the principles of a free nation.¹

Even though a democracy may be good for America, popular thinking will wreak havoc on your brand.

In business, popular thinking brings only average results. This is why many of today’s most successful brands were built by visionary leaders. Sure, they sought input from employees and customers, but at the end of the day they were the one’s making the decisions.

Starbucks founder Howard Schultz, for instance, has always been one to oppose popular thinking. He charged $1.75 for a cup of coffee that consumers could buy elsewhere for $.75. If I remember correctly, he also didn’t have very many supporter’s when the chain launched its surprisingly successful Via instant coffee.

If you want an extraordinary brand that means something, you must reject popular thinking. Brand building is rule of the few, not the many.

¹ The United States of America is a republic. However, republics and democracies overlap and a representative democracy is a type of republic.

Filed under Branding, Marketing Tagged with , , , , ,

LeBron James, Your Brand, and Ignoring Haters

October 26, 2010 1 Comment

Back in July, NBA superstar LeBron James announced via his ESPN special, The Decision, that he would be joining fellow All-Stars Chris Bosh and Dwayne Wade in South Beach.

This Decision, however, left a sour taste in Cleveland as many fans felt betrayed. James, who grew up in nearby Akron, Ohio, promised Cavs fans a NBA championship, but left the franchise before fulfilling this promise. Three months later, and Cleveland Cavalier fans are still fuming, labeling LeBron a traitor.

Yesterday Nike announced the launch of “Rise”, a new campaign featuring the so called traitor speaking in his own voice. In this 90 second spot, the reigning MVP addresses his off-season controversy head-on and focuses on the road ahead.

Should I be who you want me to be?

Whether you like LeBron or not, you can’t argue with this message. You are who you are; nothing more, nothing less.

I think this is a lesson all brands should take to heart. There are always going to be haters. You just need to accept the fact that there are always going to be people out there who are going to criticize or complain about your product and your brand.

Instead of trying to change this reality, embrace it. Like LeBron, you are who you are. Refocus on being you and not what everyone wants you to be. Invest your time and resources in your fans and ignore detractors.

Filed under Brand Relationship, Branding, Focus, Marketing Tagged with , ,

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