The Identiti Chronicles
The Evolution of Your Brand’s IdentityArchive for Return to Strategy
Transmedia – the Expanded Go-to-Market Approach
It used to be that our most sophisticated marketing archetypes, movies studios, were supported by massive amounts of media and marketing and a few key instore promos. The paradign has changed and Heroes has led the way. Tim Kring the creator of Heroes notes that the idea of broadcast will soon dimish (take note TV marketers). What has emerged is the mashup term “transmedia” or better explained a serious expansion of the narrative. Heroes goes beyond the network TV show to novels, games, broadband, DVD rental, Web sites, comics, online communities, blogs, mobile, etc. The idea is the viewer, reader, consumer however characterized can follow the brand story across multiple platforms constantly exploring the ever expanding narrative.
From Marketing to Herds to Marketing the Swarm
Mr. Brymer, President of DDB offers telling insight into the discipline of marketing desperately needs to shift it’s thinking. Conventional marketing wisdom had marketers speaking to consumer through mass communications as if it were a herd congregating in one place. The herd no longer exists; what is left is the imprint of humans linked by digital social networks. No longer does socialization take place in small groups (TV model); now they share info with 40 friends within a social network, 140 via blog feed, with significant pass along tendancies, noted Brymer. Hence, the creating a swarm of communication. The business challenge, today you are marketing to a swarm of people who gather and deposit information with the collective intelligence of an entire social network. Gone are the days of relying on expert sources, mainstream media, and mass advertising. Now, the swarm is fueled by friends, family, peers, and online communities. The Marketing eco-system has now been completely redefined.
People are Building Brands
Not advertisers, not advertisers, and not brand stewards (read Mediapost article). Brands are now being defined by the conversations consumers are having about products and services. That means in order to keep building brands, brands must go where the consumer is going. comScore reported that every month 600 million people visit conversational media sites. In this era of consumer-in-control movement that leaves very little comfort as brands must now venture into unchartered territory. Nevertheless, the societal shifts necessitate that brands follow or perish.
From Brand Manager Control to Consumer Control
In the world of networked communities, the power shift from the brand manager to the consumer is taking place. It’s no longer about product attributes on package labeling; it’s about consumer reviews and opinions. Here’s the excerpt from iMedia.
Jeffrey F. Rayport gives the iMedia Summit keynote presentation
Book: RenGen (Rise of the Cultural Consumer)
In Patricia Martin’s book, rengen, the cultural consumer is defined as a thinking, expressive, and idealistic individual that istransforming and challenging current notions around consumer behavior. The importance of the cultural consumer concept is understanding how the collective identity of the consumer mindset has shifted. Patricia notes that it’s not whether marketers have failed to witness the shift; it is that they are ill equipped to capitalize on the rebirth. “In the RenGen, there is no safe passage for brands that are willing to insult the intelligence of consumer” – Patricia Martin
Tracking the Societal Shifts
Much talk has been given about following consumer sentiment as a means of being irreverant in the eye of the consumer. But why following something that’s in a constant state of flux. It’s the societal shifts that we as marketing mindsets must unearth as the key to refining business strategy. Hotels Magazine (based on JWT insight) recently wrote about how “Demography Is Dead” and that the shift will be towards behavioral attributes to reach markets; how cell phones, location-based technologies and sites such as Google are truly “Localizing” the world we live in; businesses need to “Rethink Instant Gratification” and how “Custom-made” and “one-of-a-kind” are rising above the mass-produced din of “now”; the rising power of women now means that “Queen Trumps Kings”; fractional ownership is moving beyond time shares but “Cooperative Consumption” personifies how people are sharing art, handbags, technology, pets, etc; and other shifts such Virtual Anthropology (think viewers of YouTube and Myspace postings) all tell a far more profound story of what’s to come.
It’s Social Currency that propels the brand…
It was once defined by a gentleman named Douglas Rushkoff as “telling a good joke.” The argue has always been it is style or is it substance that reigns supreme (or in the digital world – is it content that’s king). Really, it’s what creates that “conversation” about a brand. Everything maintains a social currency; it’s the standing of the product, service, good, brand, you name it (whether favorable, unfavorable, desirable, or undesirable) within the context of “conversation.”
It’s the social currency that pegs Google as an unstoppable market force, it’s the social currency that lends Target its French pronunciation Tar-jay, and it’s the social currency that sits at the epicenter of word of mouth.
Trends Redefining Marketing
iMedia released the article 5 trends to watch…or else! back in June…And yes it is a definite must read. The trends talk about societal changes which for any true strategist are far more telling signs than any new marketing phrasology. 1) It starts with the notion of Voyeurgasm (what trendwatch called Virtualanthropology) or our need to WATCH!…and to watch what reality versus studio produced. Think Rodney King, 9/11 plane crashes, YouTube, you get it. This will and is reshaping the entire face of media. 2) Second is the Digital Lifestyle. An average of 26 consumer electronics in every home, Myspace online population rivals Brazil (difference is 7MM), and broadband users spend half their free time online — you do the math. 3) This brings us to the most important of all…Time. If you think TIME is not the most scarce resource, better look at the trend behind the personal concierge (here’s one – bravura). Need more proof, sleeping pills scripts surged 60% in 7 years, a $7B energy drink marketplace, and so on. 4) The Unwired trend…meaning we’re going mobile or mo-byle as the Brits would say…1.15B mobile phones estimated to be sold in 2007 resulting in what iMedia calls an “instant-on” culture. 5) Number five is no secret…it’s the Excess we live in, yes our marketing messages, consumer good consumption, commuting hours, work hours…that’s why we running to Vegas to let it all hang out…Source – original article by Michael Tchong
The Diminishing Value of Your Brand
December 4, 2008 at 2:34 pm · Filed under CMO commentary, Return to Strategy, Social Connectivity
In John Gerzema’s and Ed Lebar’s recent book, “The Brand Bubble,” a detailed account is give to how many of todays brands are experiencing a rapid decline in perceived value. Simply stated, they are overvalued and consumers are falling out of love with them. Based on Y&R’s BrandAsset Valuator study, the book cites that there is a growing divergence between brand valuation and brand speculation. For the complete modern day Marketer, that means the campaign-based push marketing is dead. Call it the customer conversation era, the day social connectivity, or which ever term de jour you prefer, the previous paradigm is over. As the two authors state: “You can’t just go after them. You must attract them.” No longer is it about measuring reach and frequency or even marketing mix modeling for that matter. Success will be measured by motivating the right consumer behaviors that drive engagement and connection.
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