As the New Year quickly gets moving and Wal-Mart reorganizes its marketing, (No, I am not going to talk about the changes that every advertising and retail publication has covered in every little detail>), it’s time to look for some new ideas in strengthening our brands.
With the Super Bowl finally drawing near, I was thinking about how all the bowl games are now branded and the stadiums also sport commercial names. It’s ironic that the "big game" is going to be played in Dolphin Stadium, formerly known as ProPlayer Stadium, former known as Joe Robbie Stadium. For building awareness, paying several million dollars to put your name on the stadium is not a bad idea. Well, unless, you were the Astros who played in Enron Stadium. The team got better. The stadium changed names for obvious reasons.
Anyway, I was intrigued last summer while waiting to arrive at our gate at London’s Heathrow airport. All the jet ways were labeled HSBC. I’m sure some travelers thought this stood for Heathrow’s Super Baggage Corridors rather than one of the world’s largest banks, which must need more awareness around the world. However, as I sat there I was curious about the idea of using these usually bland jet ways as a branding device and thought that this is really good real estate to build awareness and recognition for international travelers and business people. (By the way, the letters stand for the Hongkong and Shanghai Banking Corporation in case you were wondering.) All I knew about them is that they handle the finance offers for a lot of retailers, like Levitz, so that you don’t have to pay for that sofa until 2010.
Shortly thereafter, I was flying into JFK airport in New York and low and behold their jet ways were HSBC sponsored as well. As a matter of fact, it seemed like I was now seeing HSBC wherever I looked in the city. A growing company using innovative ways to gain higher brand recognition. I started thinking, wouldn’t it make sense for Macy’s to have their names on all the jet ways at LaGuardia or Newark? What about American Tourister or TravelPro luggage at other airports, or maybe they could sponsor the baggage wagons that come out to unload the planes. Speaking of planes, we’ve seen the Shamu version of some Southwest Airlines planes sponsored by Sea Worlkd; why not have each plan sponsored (much like the busses in some metro areas)? We could fly in the Target plane to Minneapolis, or the Home Depot 737 to Atlanta. Maybe a Neiman Marcus jet to Dallas. I know that Frontier Airlines was going to sponsor their airsick bags and plastic ware. So many branding opportunities...
I was always impressed by the Target logo in the end zones right between the goal posts at NFL stadiums. I thought the Sports Authority logos at courtside and rink side at many venues made good sense. Branding isn’t just another great ad or commercial, it’s using available venues to further enhance not just awareness, but also the personality of the brand. So many retailers are stuck on running weekly circulars, price and item TV spots, and a “vigorous” website. Circuit City ran an ad this week for it’s Firedog computer services. It was great because it promoted the fact that the company was giving a donation to America’s firefighters to support their important role in the communities. Enhanced the brand and said we are more than just the next big deal on an HD big screen TV.
Building a relationship with your customers is what branding is all about. It’s not just another ad in the paper or name on the jetway.
By the way, learn branding ideas from 18 experts, including yours truly, in the valuable book, Marketing Magic. Cover price is $19.99, but it's only $10 if you order it online through my website at www.kenbanks.com.
1 comment:
I have never forgotten your brief relationship with Circuit City and have been loath to shop there in retaliation for you not getting the proper treatment as an executive there – by that I mean the freedom to exercise your professional judgment in pursuit of corporate goals. Anyway, I ended up at a local CC store here about a year ago to make a camera purchase for my son. We followed an ad in the Sunday paper with a camera he thought he wanted. We were getting excellent service from a knowledgeable salesman. The salesman reviewed features and options of similar cameras, and my son chose one different than in the ad. Unfortunately, the one he chose was out of stock. The store manager was asked by the salesman about when new stock would be available, and the manager then offered the next better camera of the same brand at the sale price of the one sought. Needless to say, we accepted that offer, and my son has been very pleased with his camera.
Subsequently, I have had other occasions to shop the digital camera department of that CC and received excellent technical advice and service. I’ve bought four digital cameras and a digital movie camera from them. Service has been excellent. Accessory stock has always been plentiful. But it is knowledgeable sales help that has brought me back time and again.
All this validates your point. Service and a knowledgeable sales force drives sales…assuming reasonably competitive prices.
As an executive, I look at the question from another angle. Part of the boss’s job is to protect the assets of the organization. So, what is the most valuable asset of CC? (or most other businesses?) The employees. Your story about one excellent employee being worth more than three average employees is true. And as you retain employees, you have great savings in reducing the costs of turnover, costs which can be exceedingly high. These are savings not measured by compensation.
Can you remember Soapy Williams, Governor of the Great State of Michigan in the 1950? He was governor when State payroll checks bounced. Can you imagine the havoc that created? Rent payments missed. Mortgage payments missed. Car payments missed? Difficulty in buying food and paying for utilities for some people. A nightmare. That’s something I’ve never forgotten. I’ve always known from that debacle to put taking care of the employees as the number one priority of a business (and never, ever miss a payday). Without that, nothing else can be accomplished on a long term basis.
If service is enhanced by employing knowledgeable staff and treating them well (of which compensation levels is only a part – go back to Theory X v. Theory Y for employee motivation), that will inevitably lead to goal achievement. It’s really a simple concept, but far too many executives and managers just don’t get it. Many are too wrapped up in showing that they can exert power.
That should bring you to ask questions about management education, both in colleges and on-the-job training. What is being taught? What are admissions/employment criteria? Are too many people without any common sense and compassion about employees getting into schools and jobs?
If you learned your BS in business and MBA (or Thunderbird equivalent) well, you know that all of that classroom stuff really is applicable to day to day management. It takes a thoughtful exec to apply those concepts and it takes leadership with compassion toward others to implement successfully. It’s not always easy, but it’s usually doable.
Enough.
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