Tag: marketing

• The world’s best brands — 2018 edition

  At the beginning of this month, Interbrand released its annual ranking of the world’s best global brands. This year’s 2018 report marks the 19th year of the study. If you’d like to download a free copy of the report, you can do that here. But below is a snapshot of the first 24 brands:

  

  Apple and Google are in top position for the 6th year in a row. And Amazon is on a hockey stick trajectory with its brand value jumping by 56%. More than half of the list is comprised of the following five sectors: Automotive (16), Technology (13), Financial Services (12), Luxury (9), and Fast-Moving Consumer Goods (9). Luxury is currently the fastest growing sector.

  In their report, they outline five themes that have emerged and that are helping these brands outperform. They are:

  1. Positive utility – not enough to just make people feel good through storytelling; you need to create real value and a positive impact in the world
  2. Subscription mindset – there’s an increasing amount of brand value in subscription-based businesses (29% in 2018 compared to 18% in 2009); you need to offer your products and services with the least amount of friction as possible
  3. Customer-centricity – bring the voice of your customer into every aspect of your business; be nimble enough to respond quickly
  4. Learning from luxury – the top performing category in this year’s ranking; about exclusivity and authenticity
  5. Role of brand – make your brand part of the decision-making process; build brand equity and trust

  I’ll stop there and let you all dig into the rest of the report if you’re interested. 

  But one thing I found particularly interesting about the study is that they used – insert buzzwords here – “AI-powered social listening” to try and measure the emotion and sentiment floating around on the internet around specific brands. The goal was to pin down the perceived trustworthiness of specific brands.

  Not surprisingly, they found a pretty strong correlation between customer trust and purchasing intent. Makes sense to me.

  2018.10.13

• Create things people love

  I just finished listening to this podcast about venture capital and consumer products. One of the underlying questions is whether we are currently in a “consumer downturn.” Rebecca Kaden of Union Square Ventures (USV) talks about the importance of “platform shifts” for venture returns. These are moments where a new technology hits the marketplace and there’s a corresponding mass consumer adoption. When and where will that next shift occur? Maybe it’ll be in real estate.

  I like the discussions at 10:00 and 13:50. The first deals with the importance of non-paid customer acquisition strategies for consumer products. Rather than relying on bought attention, you really need organic growth strategies, which is often an indication that people are passionate about your product. This is arguably more important when you’re fundamentally reliant on massive growth/scale, but whether we’re talking about software or a home, I still believe it’s paramount. Create things people love.

  The second point is about commerce, Amazon, and how USV avoids investing in companies that are unlikely to ever win against Bezos. Kaden’s position is that Amazon’s advantage is and has been more executional than structural. They are simply really good at doing things better. But Amazon wins at logistics, speed, and value. They are not as focused on experience, entertainment, and discovery. And people still want that.

  I’ll stop there. If you can’t see the podcast below, click here.

  [soundcloud url=”https://api.soundcloud.com/tracks/507691569″ params=”color=#ff5500&auto_play=false&hide_related=false&show_comments=true&show_user=true&show_reposts=false&show_teaser=true&visual=true” width=”100%” height=”300″ iframe=”true” /]

  2018.10.06

• Value of distribution and reach for consumer facing products

  

  Forbes recently pegged social media influencer Kylie Jenner’s net worth at somewhere around $900 million. That makes her the youngest (she’s 20) person on Forbes’ annual ranking of “America’s Richest Self-Made Women.” 

  And if the trend line continues, she’ll be the youngest self-made billionaire, ever. Mark Zuckerberg apparently holds that title right now. But he was a classic underachiever and only became a billionaire at age 23.

  Most of Kylie’s net worth is derived from Kylie Cosmetics, which launched less than 3 years ago, but did an estimated $330 million in revenue last year. Forbes values the company at almost $800 million. And Kylie owns every bit of it. 

  The reason I am mentioning this today is because I was fascinated by the above Forbes article. It’s such a powerful example of social media leverage. Forbes put it differently: “Social media has weaponized fame.” 

  Kylie has 111 million followers on Instagram (plus many more on her other social channels) and that’s really the most important part of this equation. She has the distribution and reach to acquire boat loads of customers. It doesn’t matter what you’re selling if nobody knows you’re selling it.

  The rest of her business is pretty much outsourced. Seed Beauty (out of Oxnard, California and Nanjing, China) handles the manufacturing, packaging, and shipping fulfillment. Shopify (headquartered in Ottawa) is her e-commerce platform.

  We could of course have a debate about whether a celebrity-fueled business is really all that sustainable. And perhaps there’s risk in relying so heavily on social for customer acquisition. But youngest billionaire is youngest billionaire.

  Image: Forbes

  2018.07.17

• It’s content marketing

  Oscar Wilde once said:

  “There is only one thing in life worse than being talked about, and that is not being talked about.”

  I’m sure that all of you can think of someone right now who subscribes to the philosophy that any press is good press.

  But there is something to be said about exposure. Almost every company on the planet wants it. They pay for it.

  They fight for it.

  It’s the lifeblood of business. If nobody knows who you are and what you do, you’re dead.

  In my view, one of the best ways to gain exposure today is content marketing. Marketing sometimes has negative connotations, but content marketing is probably the least offensive varietal. It’s a soft, rather than hard, approach. It invites you in and tries to earn your trust, instead of hitting you over the head with an ask.

  But at the same time, it’s a more difficult form of marketing. You have to be insightful. You have to be useful. And you have to try and create value for people on a regular basis. That’s easier said than done. I try and do that every day, but I don’t always succeed.

  I say all this because we live in a content-driven world. In fact, this blog – despite it being a personal one – is a form of content marketing. I like how Fred Wilson responded on his blog to the criticism that too many entrepreneurs treat venture capital blogs as scripture:

  “So how should entrepreneurs use this knowledge that is being imparted by VCs on a regular basis? Well first and foremost, you should see it as content marketing. That is what it is. That doesn’t mean it isn’t useful or insightful. It may well be. But you should understand the business model supporting all of this free content. It is being generated to get you to come visit that VC and offer them to participate in your Seed or Series A round. That blog post that Joe claimed is not scripture in his tweet is actually an advertisement. Kind of the opposite of scripture, right?”

  Again, that doesn’t make the content necessarily bad. It’s just the truth. It’s content marketing.

  2016.10.28

• Flynn in the city

  

  I very much enjoy the branding and marketing side of the development business. It’s probably an architect / designer thing. So I’m always looking out for interesting case studies.

  Recently I came across The Flynn in Chelsea, New York. The developer is IGI and the agency is Winkreative.

  What they did was create a namesake character named Flynn. Everything then became about a day in the life of. 

  The Instagram account is flynninthecity. They made colorful animations. And they even partnered with the Spring Street Social Society to host in-person performance art pieces. The Being Flynn series was a bunch of vignettes that combined “dance and physical comedy” and highlighted a cast of fictional characters who all, of course, reside at The Flynn.

  As you all know, selling condos is typically about selling a lifestyle. A dream. In this case, they created a character to show you exactly what that dream should be.

  Real estate marketing can sometimes often be cheesy. But I thought this was a clever and overall creative approach. Winkreative does great work.

  What do you think of the approach?

  Image: Winkreative

  2016.10.02

• That emotional connection

  Marketing guru Seth Godin recently published this value
  triangle on his blog:

  

  No matter what business you’re in, it’s worth giving some thought to this. What do you offer?

  At the bottom of the triangle is function. A hotel room functions as a place
  to sleep. A smartphone functions as a device to make calls, send text messages,
  and download some apps. A condominium functions as a place to live, eat, sleep, have sex, and so on. But all functions being equal, most of us will buy whatever product is the cheapest.

  That is until there’s an emotional connection. I love the
  way Seth frames it: “Where do people like me do things like this?” It is about defining
  who you are. Am I the kind of person who buys A or am I the kind of person who buys
  B? If I care deeply about the environment and B promises to respect that, I am
  likely to buy B.

  But then, moving even further up the triangle, if two items offer the same function and the
  same emotional connection, many of us will go for the one that appears sexier, shinier (the new iPhone 7 is very shiny), and more
  stylish. It just deepens the connection.

  Finally, at the very top of the triangle is now. This is
  about scarcity. What’s hot right now?
  Think of that new restaurant that just opened downtown that you haven’t been
  able to get a table at. It’s now and you want to Instagram the food so badly so
  that you can show everyone you were there. You want to be now.

  The point of all of this is that we consume things for
  reasons that go well beyond simple function. That’s just the start of it all.
  One could argue that all of this is simply smoke and mirrors, but that’s a
  topic for another blog post. This is our reality.

  To relate this topic back to architecture and real estate, I
  am curious how many of you have made a housing decision that you believe went
  beyond function. How much of it was based on connection and style?

  Not surprisingly, for me, architecture and design matter a
  great deal.

  Earlier this summer I was driving around the city with my
  father and he was pointing out to me all of the new build single family homes
  that were sprouting up. He then asked me what I thought of them. I responded: “They’re
  shit.”

  What I was really saying with that glib remark was that
  those homes – no matter how expensive – didn’t reflect my own belief system
  about the world. Sure they served their function, but they didn’t offer the
  connection and style that “people like me” like to praise. To borrow once again
  from Seth: we are all part of a certain tribe.

  What tribe do you belong to? And does your housing choice
  reflect that?

  2016.09.07

• The Lofts at SoDoSoPa

  Introducing The Lofts at SoDoSoPa and The Residences at The Lofts at SoDoSoPa (South of Downtown South Park).

  The following South Park video is a great parody of every real estate marketing video you’ve ever seen. Real estate marketing can be so terrible.

  [youtube https://www.youtube.com/watch?v=pAPmjcBnxIs?rel=0&w=560&h=315]

  This video is probably old news, but I never watch TV and so it’s the first time I’m seeing it.

  If you can’t see the embedded video, click here.

  2016.08.20

• Why blog?

  Someone recently asked me: “Why do you blog?”

  I have lots to say whenever someone asks me this and I’ve written a few of those things down, here. Obviously I believe that there’s tremendous value in writing your own blog and reading the blogs of others.

  It’s for these reasons that I really enjoyed one of Seth Godin’s posts this week called: Read more blogs. The post is about using an RSS reader (Feedly) to keep track of blogs (which I do), but it was the lead-in that caught my attention:

  Other than writing a daily blog (a practice that’s free, and priceless), reading more blogs is one of the best ways to become smarter, more effective and more engaged in what’s going on. The last great online bargain.

  Good blogs aren’t focused on the vapid race for clicks that other forms of social media encourage. Instead, they patiently inform and challenge, using your time with respect.

  He then ends by arguing that we shouldn’t sit idle while powerful gatekeepers like Google and Facebook “push us toward ad-filled noisy media.”

  The reality of many personal blogs is that they don’t live and die on clicks like other online media. It’s a labor of love and that makes it a unique place on the internet. I clearly like this place and, if you’re a reader of this blog, I suspect you might too.

  Thank you for reading my personal journal.

  2016.06.03

• Trust & attention

  Over the weekend I received a marketing email from a real estate company advertising their new mobile app. I didn’t download it.

  Nowadays, every company and brand seems to have a mobile app. If you don’t already have one for your organization, I bet many of you have thought about creating one. This is natural given how profound the shift to mobile has been.

  But I can’t help but feel like we are overestimating the kind of attention that many of these apps will receive. App usage is highly concentrated. We’ll spend hours on Instagram, but almost every other app in existence gets ignored.

  I love how marketer Seth Godin puts it: “the two scarce elements of our economy are trust and attention.” Attention is not scalable. Each of us have a finite amount of attention to give. And there’s lots of competition for it.

  At the same time – to borrow Godin’s thought process – a lot of people will sacrifice trust for the sake of attention. We overpromise because we become desperate. I mean, if you think about it, every company or organization is trying to figure out how to get you to pay attention to them.

  But I’d like to think that trust can also help you garner attention. Once I trust someone or some organization, I’m more likely to give them the time of day. They’ve earned it. And I feel like that’s where things are headed in today’s information economy.

  Trust and attention. Think about it. They’re pretty powerful things, no matter how you spend your days.

  2016.05.18

• The value of saying no

  

  If you’re somebody who has a lot of ideas, it can be pretty easy to get overwhelmed and/or distracted by all of the possibilities. It’s also worse when you’re an optimist and you believe it can all be done. I am definitely guilty of this. It is one of my weaknesses.

  We all have a finite amount of time to work with and so saying no to the stuff that isn’t core is critical. I believe I am getting better at this, but every now and then I find myself having to do some pruning. And once I do that, boy does it feel great.

  Seth Godin has a fantastic blog post on this topic that I love called, No is essential. Here it is in its entirety (it’s a short post):

  “If you believe that you must keep your promises, overdeliver and treat every commitment as though it’s an opportunity for a transformation, the only way you can do this is to turn down most opportunities.

  No I can’t meet with you, no I can’t sell it to you at this price, no I can’t do this job justice, no I can’t come to your party, no I can’t help you. I’m sorry, but no, I can’t. Not if I want to do the very things that people value my work for.

  No is the foundation that we can build our yes on.”

  To drive the point home even further, let’s shift gears and talk about wine. (For all of you fellow wine drinkers.)

  In viticulture, overall yield – usually measured in hectoliters per hectare of vineyard – is often seen as an important indicator of quality. The idea being that low yields produce better wines because the flavors get concentrated over fewer grapes. 

  Part of what drives this is the leaf to fruit ratio. Too much fruit and not enough leaves, means the grapes won’t ripen properly.

  The parallel to this conversation is that leaves are much like time. There’s only so much of it. And while many of us are constantly trying to maximum yield – I know I am – there are limits to the kind and quality of grapes we can produce when we do that. 

  I know this in principle. And more and more, I know this in practice. I am learning to say no.

  Image from Flickr

  2016.04.13