The future of advertising: a sneak peek!

The Future of Advertising: A Sneak Peek!

What could/should “advertising” look like in 2020 and beyond? What should we do now for that future?

Some questions that crowd our every day artery. Restless consumers and fast changing technology are creating unheralded disruption. Advertising has always been a combination of art and science. Technology is now becoming a third variable. Advertisers “have to get all three of these things right”. They have to be three good.

There are Un Ignorable Forces of Change. Throwing Unabated Challenges to the status quo. But having said that, once recognised, respected and responded right, they offer Unprecedented Upside Potential for the Future. Lets examine them below:-

Exponential Advances in Science & Tech: With IOT, AI, Machine Learning etc, we now have a deeper real time understanding of things, people, situations. Bringing along with it an outsized and unprecedented responsibility for what we do with that knowledge.

Empowered & Skeptical “Consumers” : Wanting Customerization & Personalization (make it mine), seeking Choice(Give me tools to make better decisions), expecting Competitive Value (Give me more for my money), searching for Communities( Let me be a part of it), across multiple Channels (I want to call, click and visit). Individuals with lives, aspirations, challenges, family, communities. They want to be worthy of respect and you need to earn their trust.

Media Disruption & Redefinition : One way has become Two Way, Static is now Dynamic, Stationary is now Mobile, Passive is now Sensing, One-Dimension is now Immersive, Visual has turned Multi sensory. There exists Unprecedented Platform Design Capabilities for delivering Exceptional Contextualised Experiences.

Culture, Society & Our World : Straddling many a Divide across Health, Income, Digital, Education, Equality & Tolerance, Climate & Sustainability.

Inspiring, Measurable Business Models: A heady mix of The customer driven/ holistic model , The co creation model,  The open innovation model , Network orchestration model , The Competitive Value Model, Transformation to full service provider model, The emerging market innovation engine model, The shift to digital and network business models

So what are the takeaways that we can extract from the above listed landscape?

– Traditional mindsets, including those about advertising and marketing, must be challenged and potentially changed. I am referring to the Mental Models: The Primary Impediment to Transformation- For eg: “It has always worked this way.” “We tried it and it didn’t work.” “We’re profitable; why change?..and so forth! 

Before Roger Bannister broke the 4 Minute Mile on May 6, 1954, nobody thought that such a record could be set. We need to ask ‘ What is your 4 minute mile ‘ ?

Its the time to challenge our Mental Models of Advertising and Move from Marketers and Agencies, through Media, at Target Demographics toward being Cross-Silo Collaborators, from Ads toward Orchestrated Value-Creation Touch points, from Frequency toward When Needed, Wanted, Appreciated, from Reach toward Where Needed, Wanted, Appreciated, from Push and Persuade For Sales toward Multi Win Outcomes,pull & engage, from Ad Campaigns toward Initiatives in Holistic, Dynamic Ecosystem.

There is also a great upside in starting to use a new Vocabulary:

From Campaign To Initiative, From Content To Substance, From Persuading To Inspiring and Enabling, From Selling To Serving, From Seeking Loyalty To Earning Trust, From Disruption To Better/Alternate Solutions, From Features and Benefits to Brand Roles in People’s Lives, From Brand Differentiation To Brand Distinctiveness, From Employees To Brand Ambassadors, From Talent To Brand Stewards, From Consumers(myopic) To People with Lives, From Advertising Campaigns To Value Creation Initiatives, From Direct Response To Actionable Communications, From Big Data To Actionable Insights, From Success/Failure To Learning.

The time has come to challenge everything. Leave no sacred cows. Even challenge the objective of the firm from maximising long term shareholder value to aligning the objectives of the brand, the people (consumers…) and society.

– A strong call out to shift your focus from media mix to portfolios of all touchpoint orchestration. Go beyond the 4 Ps- bring in CeX, CSR, Packaging, Web & App etc all. The path to purchase is not linear any more. Operating in a sliver is not serving the purpose.

– Leverage the power of content( make RAVES– Relevant, Actionable, Valuable, Exceptional & Shareworthy) and the power of context( MADE: Multi Sensory, Audience driven, Delivery across platforms, Environment & location sensitive) that helps deliver your compelling brand purpose.

– Be always in beta– in adaptive experimentation mode to foster innovation, to learn faster & better, to attract and retain better talent, to hoodwink competition.

There’s no shortage of screens and there’s no shortage of impressions. But there’s a shortage of high value connection points between brands and consumers, which is the whole point of advertising. You have to create effective engagement with the consumer that gets them to buy.

Latin is very much Greek to me but as I come towards the end of this piece some Latin to keep an eye on. We have passed those days of ‘ Caveat Emptor ‘( meaning Buyer Beware). The new skid on the block these days is ‘ Caveat Venditor ‘ ( meaning Seller Beware ). 

As the brilliant Bob Hoffman puts it ” If you want to die an imbecile in advertising, don’t pay attention to art, literature, history, science, anthropology or nature. Pay attention to the Kardashians “.

Going back to Latin mode- friends- Semper Vigilans (meaning stay vigilant)!

ENDS

https://www.groupisd.com/story

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The PRomise, The PRospect, The PoweR of Celebrity PRanding!

It’s PRime Time!
The PRomise, The PRospect, The PoweR of Celebrity PRanding
A layer. Then another layer. The stack effect. A double whammy. A literal celebrity brandwagon. 
Amitabh Bachchan. Prabhu. Nagarjuna. Manju Warrier. With the cult following that these icons have nationally and regionally in star struck India, one would have imagined that brand Kalyan had enough and more star power to spin many a convincing yarn. But it seems to be a summer of (dis)content.
What else explains that such a powerhouse brand like Kalyan would want to add more horse power(and how) by getting King Badshah Khan(SRK) to inaugurate its new showroom in the heart beat of India in Dubai(read Meena Bazaar).
Sizzling mercury and sapping humidity levels of the early Thursday afternoon were no impediments to the fan frenzy on display, that started a good three hours before King Khan came to the scene. That is what brand marketers would define as ‘ pure brand advocacy ‘.
” Till such time I am alive, he will be my God. Nothing oblique but a direct reference to SRK. After my lifetime, I would consider God in any other form, till then it will be him “, avered a lady fan waiting for the heavyweight superstar. FANatic, surely. Just a small indication of the power, the aura, the charisma, the clout of Badshah Khan.
Strategically, we believe that this is a tactical master stroke by the Kalyan brand. Cause a major ripple by bringing SRK on board in small rushes, spike up attention and recall and then let the sustaining be done by their existing crop of brand ambassadors.
Needless to say wherever there is serious brand power(personal or otherwise), ISD Global(groupisd.com/story) is right in the thick of it. Our band of passionate hustlers and story tellers(#NikhilThekkomkottathil#SalinduSadishan) were at hand, up close and personal to augment and amplify.
The stage was set. And SRK was all the rage.
ENDS
 
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www.groupisd.com/story

Marketing the new ‘Terms ‘ of endearment

Marketing the New ‘Terms’ of Endearment

Over the years, tried and oft used terms in the world of business and marketing have transcended convention. We seem to be in a perennial state of having to come to terms with these terms. Here is the term sheet on that.

Brand Owners, Advertisers and Marketers were once cosy with ‘ Mass Market ‘. Try and reach the maximum audience numbers through mass media. A lot of the times it was about Spray and Pray. Mass Market transitioned to ‘ Mass Customisation ‘ which went beyond one size fits all to one size fitting some. With the advent of Artificial IntelligenceMachine Learning and Data Science, we are now in an era of the ‘ Customer Segment of One ‘, where one individual as an audience is targeted with high degree of precision and success.

The disclaimers have been turned on its head as well. What used to be common place was a term going as ‘ Caveat Emptor ‘ which essentially was to say buyers beware. The entire onus and risk on buying a product or service was all on the buyer/end user. Now, in an over commoditised world, where we have moved on from push and control to pull and engage, where top down has given way to bottom up marketing, what is evident is ‘ Caveat Venditor ‘, where the accountability and responsibility rests fully on the seller. The wheel has gone a full circle.

Not until long ago, brands and their marketing plans were etched out keeping demographic groups in mind. A pre decided age group with a certain buyer persona was carved out and communication was created to influence and impact that community. The universe has changed dramatically. Brand marketers have now started addressing mindsets which throws conventional wisdom out of the window. As they have now begun to chant, RIP Demographics!

Consumer aspirations have taken a twist as well. Yesteryears we had all marketing and communication created to induce brand ownership. With so much millennial consumption happening, the entire paradigm has now shifted to owning experiences. The new brand mantra for marketers is CeX(Customer Experience) and the City. Ownership is passe, experience is the new aspiration.

Remember those days when the quintessential manna from heaven was ‘ brand loyalty ‘. Coveted, treasured, revered. Loyalty was royalty. In an era of surplus of goods, information, choices, services and a deficit of trust, attention and resources, ‘ customer infidelity ‘ has replaced loyalty. Cheaper, better, faster? Here we shift loyalties!

We were just coming to terms with the ‘ knowledge economy ‘ as it moved on from the  ‘ Industrial Economy ‘and before we knew it we were bang in the middle of the ‘sharing/collaborative economy‘. The dust had hardly settled on that and now the entire attention is rooted on the ‘ attention economy ‘. In an age of perennial distraction, attention is the new premium.

Since advent of marketing, and the quest for differentiation, the narrative has revolved around a USP(Unique Selling Proposition). That feature or benefit which makes your brand distinct or unique from other competitors in the eco system.Then came the not so holy communion onslaught- the SOS- Sea of Sameness. Nothing unique, nothing distinct, the herd mentality, the also ran, the me too. Which prompted our research at ISD Global to discover what we have come to label as UFP- Unique Feelings Proposition– where state of the heart is what brands are appealing to win trust, loyalty, mind and wallet space.

Am sure we will have more to chew on as the intersection of consumer behaviour, rapid evolution of technology and the ever changing socio economic landscape will throw up more perspectives that we have to come to terms with. Till then, au revoir.

ENDS

www.groupisd.com/story

www.brandknewmag.com

No.The Customer is Not Always Right!

 

Does this article caption seem like sacrilege? Especially in the context of all the cacophony of narratives that float around viz Customer Service, Customer Delight, Customer Centricity, Customer Experience, Customer Journey...and all of that and more.

Over time, we have transgressed(not so effortlessly) from mass to mass customisation to personalisation to customer segment of one. And somewhere in between there is the Long Tail effect as well that encourages more granularity when it comes to addressing customers.

The phrase “ The customer is always right ” was originally coined in 1909 by Harry Gordon Selfridge, the founder of Selfridge’s department store in London.Business was different, expectations were certainly so and organised retail was only at the embryonic stage. This line is typically used by businesses to convince customers that they will get good service at this company and convince employees to give customers good service.

Of course, there are plenty of examples of bad employees giving lousy customer service( the United Airlines incident last year involving a passenger last year stands out like a sore thumb) but trying to solve this by declaring the customer “always right” is counter-productive.

CEO Hal Rosenbluth(owner of Rosenbluth Corporate Travel, since acquired by American Express) wrote an excellent book about their approach called Put The Customer Second – Put your people first and watch’em kick butt. Rosenbluth argues that when you put the employees first, they put the customers first. It’s a chain reaction, often overlooked by organisations and brands.

In his book Customer CentricityPeter Fader(Marketing Professor at Wharton & Co-Director,The Wharton Customer Analytics Initiative) encourages business owners to focus on the customers who matter most: “Not all customers deserve your company’s best efforts. And despite what the old adage says, the customer is most definitely not always right. Because in the world of customer centricity, there are good customers…and then there is everybody else.”

To borrow the experience that Tim Ferris(author of the wildly popular The Four Hour Work Week book) where he realised he was spending far too much time attending to customers who were contributing very little to revenues but causing high amount of stress, only to recalibrate his energies and attention to customers that warranted it best.

Haven’t we heard this before: “The customer is always right, except when they’re wrong—and then, it’s our fault”.

A more balanced way of looking at it would be to respect the customer, as it’s not about who’s right; it’s about what’s best for your company and the customer together. It takes two to tango.

Another example was when Toblerone changed the shape of their iconic chocolate bars, customers went absolutely bananas. It wasn’t that the new shape of the bars was bad, per se. It was just different, and people HATE different. Customers like to maintain the norm.The status quo, be in the comfort zone..

When you make changes in your business, you will probably get some initial backlash, even if the change that you have made, is for the better. If you have the attitude that the customer is always right, you’ll never make healthy improvements to your business because the possibility of bad customer feedback will paralyse you.

Needless to say we all need to strive for excellent customer service, or delight or experience as the case may be. But, adopting a ‘ Customer is always right ‘ policy can end up actually hurting your business. You kill employee morale, empower rude customers, slow down innovation, and even create unhappy experiences for other customers.

A much better strategy would be to empower your team to make the right decisions. And, that would translate to” The Right Customer is Always Right “. That’s a much better place to be.

ENDS

Image: ISD Global

www.groupisd.com

www.brandknewmag.com

Brand You World!

It’s a Brand You world, and time to re imagine you,the Individual: being the storyteller of your own life, you either create your own legend or not.There is nothing worse than being ordinary. The current environs is not going to cosset you any more. Imagine: You’ve got a new boss: Buy a mirror: It’s YOU!

Ready?

ENDS

Image: Social Media 101

www.brandknewmag.com

www.groupisd.com

Our core shouldn’t be about being mediocre!

When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left,  and could say, “I used everything you gave me.”
Erma Louise Bombeck

Todd Henry’s brilliant book ‘ Die Empty ‘ is a wake up call surely. A guide to reclaiming your passion, finding your voice and unleashing your brilliance every day. We always seem to find solace in the fact there will always be tomorrow. But sooner or later all of our tomorrows will run out. That is time which is limited inventory. Each day that you postpone the hard work and succumb to the clutter that chokes creativity, discipline, and innovation will result in a net deficit to the world, to your company, and equally importantly to yourself. Ready to introspect?

I understand average might be both the old and new normal but a honest hand over your heart would have you admit that you were not meant to be average, nor am I. Average might be normal – I get that. But in the grand scheme of things, it’s not for me and it shouldn’t certainly be for you!

When you day dream, do you see yourself as the average Jane or average Joe or as being grander than life? I suspect the latter. Way to go! Being mediocre maybe a safe place at first and you are in this trap of thinking that things can’t get any worse. But, we have to know that the flip side is that things won’t get any better either.

“Most humans, in varying degrees, are already dead. In one way or another they have lost their dreams, their ambitions, their desire for a better life. They have surrendered their fight for self-esteem and they have compromised their great potential. They have settled for a life of mediocrity, days of despair and nights of tears. They are no more than living deaths confined to cemeteries of their choice. Yet they need not remain in that state. They can be resurrected from their sorry condition. They can each perform the greatest miracle in the world. They can each come back from the dead…”
― Og MandinoThe Greatest Miracle in World

It’s time to start an intelligent and provocative conversation with yourself. Be content in being discontent. Set yourself lofty goals without letting them intimidate you or scare you away. The very nature of our brain is such that it cleaves to the familiar. But the brain also remembers what it least expects. So, deliver the unexpected. Let familiarity breed contempt.

When the preferable is not available, the available becomes preferable. Beware of that. And all of it’s always been done that way syndrome.

So what does this mean for creative and marketing professionals. We understand that top lines and bottom lines are necessary compulsions in our corporate life. Stakeholder greed is de rigueur. Marketers will understand that the absolute worst place for a brand is to be “middle of the road, in no man’s land.” Average, adequate, middling are all meaningless. If you are in marketing and find yourself even remotely close to any of these trio, get away, fast. There is far more life beyond ” 25 to 70% off ‘ that you have been running as campaigns religiously for over the last 7 years. You are far better than that. Stop belittling your talent and capability. Especially with all the resources(financial & human) and standing that you have in the market as a brand. And above all, your individual ability, that is far far above the mediocre.

Time to raise the bar.

ENDS

www.groupisd.com

www.brandknewmag.com

 

 

The CMO’s wish list for 2018: An evolving list…

A lot of us are now on the drawing board mapping out ways to get better in 2018. The fundamentals are not going to change- reach, connect,engage, influence, transact and all of that- but what could we do to better stimulate the landscape as we get set to welcome and take on the New Year. Here’s a partial(and ever evolving list):-

a) A new BHAG of tricks: Nothing brings together a team like a BHAG — a Big Hairy Aggressive Goal —without enough time to deliver it. Backs to the wall brings out the best in us!

b) Am not alluding to the fact of disrespecting the organisation chart but don’t obsess over it on paper.Instead, get the right people, the right goals and vitally, the right trust in place.

c) And for all the HeRoines and HeRoes in HR, recruit with an immersion, not just an interview. Align passion with goals.Basic, yes! Hire marketing leaders with general management skills to ensure results exceed individual contribution.

d) When things are working well, that is the best time to deconstruct your strategy and try new things.

e) If you are in a new category where your customers need a lot of education and support, your organisation needs to be built around education first and products second.

f) Extend your approach to marketing beyond “getting a message out there”; focus on building trust.

g) Don’t overcomplicate marketing. At the end of the day, it’s still marketing: Market Research, Content, Sales enablement, Awareness, Demand generation, Partnerships, Customer retention.Customer advocacy.

h) When you’re the underdog in your industry, hire people with the DNA to creatively leapfrog the competition, not follow the industry norms. You need to have your Purple Cow(fantastic book by Seth Godin).

i) Own marketing across the organisation. Don’t be afraid to integrate marketers into other parts of the organisation, but always have at least a dotted line back to marketing.

j) Don’t be afraid of data and machine learning. The time is now to put all that data to use to solve the problems humans simply can’t and further the industry. The key is to leverage them as part of your team, not external resources. Data is the (K)new oil as they say! The transition even amongst large enterprises hitherto involved ion B 2 B marketing is happening towards a B to I space(Business to Individual).

k) The best marketing combines data and storytelling. It gives you a way to appeal to the emotional side of people. The Unique Feelings Proposition is what brands need to go after!

l) The future of marketing is in the CeX(Customer Experience). Success comes from knowing your consumers’ passions, being innovative in the way you engage them and having a team that collaborates across all aspects of the customer experience delivery. For consumers, the thrill and purpose of experience has replaced the earlier compulsion for ownership. So ride the opportunity.

m) Marketers will know that The Future of Advertising will be a thing of the past. So, re invent, re engineer, re boot and re calibrate! There is a new customer segment: the Customer Segment of 1. Get ready to reach out to them. Address mindsets, not demographics!

n) As we are all agreeing these days, digital is just as much marketing as marketing is digital. So the two roles have combined, and how! It’s a tell, tell, tell, digitell world.

o) Brands and marketers will recognise the immense power of Transparency and how consumers warm up to brands who are not afraid to stand in their own truth. In a Post Truth world, The Future is Transparency!

Marketing has the power, and responsibility, to inspire the whole company, not just customers. Marketing also has the power to be so much more than the “make it pretty” department.It has the imperative to inspire everyone in the company, not just the people who touch the product.So, let us know our rockets from our launch pads.

For inspiring quotes and actionable intelligence from brand owners and marketing champions, please check this link http://groupisd.com/isd-brochure/

ENDS

www.groupisd.com

www.brandknewmag.com

Image Courtsey: Search Engine Journal

Is the 30-second ad dying?

The death of an advertising stalwart!

Well it surely appears so. And Silicon Valley is killing it.The rise of social media has made the elaborate plot lines of old-school spots seem archaic. And the Mad Men are, well, mad.Or, so was the fad!

Trapeze back to the days of the 30 second long format ads(long by today’s standards) where marketers, brand owners, agency heads, creative directors, art directors and film makers peddled a basketful of promise, creative thought and motivation to influence the seemingly reachable TG in their quest to change behaviours, cultures and consumption patterns. There was a certain trance in that romance to create.

So what is prompting the change? In an always on land of uncertainty, are we losing the plot(and losing the audience) or has the landscape itself changed?

6 is the new 30

They say 20 is the new 40 when it comes to audience maturity and demographics. Platforms like YouTube have increasingly challenged agencies to tell their stories in a 6-second slot — the average attention span of today’s mobile user. That mobile user, who again by conventional paradigm, is on a perennial instant fatigue. So 30 seconds is a long journey to risk with them!  6 has indeed become the new 30. And numbers don’t lie!

It makes sense. You might be willing to sit through a 3-minute trailer before a movie, or a 30-second “Whassup” ad before an episode of Jimmy Fallon.That may come across as non intrusive or no skin of your backBut amidst the native content of notoriously short-form channels like Instagram or Snapchat, these types of ads are disproportionately long. So much so, that they may pre qualify to be spam! Just kidding.

And for all those who are number crunchers: if we had a nickel for every 60-second YouTube video we gave up on because of an unskippable 30-second ad, we’d be at least $1.25 richer. What will you do for a few dollars more?

“Creativity is dead.” — Old School Advertisers

That almost seems like an Old Jungle saying(remember Phantom is rough with roughnecks!!!).

Ad execs counter that cutting time means sacrificing emotional stakes and story arc for the sake of speed, effectively prioritizing watchability over effectiveness.

Another, not-so-secret motive: it’s harder to get paid proportionally for the production of super-short ads, which still require actors and equipment.The CFO and CMO lines have been blurring and the motive should not surprise us.

Hey, we love Ogilvy as much as the next ad geek. But as the father of mass mediaMarshall McLuhan, put it back in the ‘60s: “The medium is the message.” Yes, we now surely get the message.

And today’s medium is 6-second Snap Stories. And it has to be over in a snap. Otherwise today’s audience will snap out of it.So the mean median for a message is all coming down to 6 in the City(and beyond).

So, Lights, Camera….do we have the time to say Action?

ENDS

www.groupisd.com

www.brandknewmag.com

Image: Digitalvidya