Derek Jeter Post-Retirement: A Marketing Superstar Evolves

20 Oct

Now that the New York Yankees’ Derek Jeter has retired after a Hall of Fame career and the adulation of fans, he is focusing on his future. His marketing past — and present — has been pretty impressive (endorsement deals with Nike, Ford, Gatorade, Rawlings, Steiner Sports, Movado, Avon, and more).

Jeter’s marketing future is being meticulously planned and some projects have already been launched, just a short time after his September 2014 retirement. As Tom Van Riper reports for Forbes,

“Fenway may well prove to be the site not of a true retirement, but merely the final pit stop of a career transition. For all the millions Jeter has pocketed as a player, the real money is still ahead of him, ready for the taking. Statistically, Jeter is a borderline top 100 all-time player, plenty good enough to qualify for the Hall of Fame. His standing with the press and the public, though, reaches well beyond that. The reasons are easy enough to grasp: big market, iconic team, five rings, no PEDs, years of consistency, and, by all appearances, a modest, team-oriented player. A throwback in the age of the gyrating, ‘look at me’ athlete. Whether it’s straight endorsements or equity-based deals, ‘He’ll have offers thrown at him by companies that want to use his name,’ says Ryan Schinman, CEO of Platinum Rye Entertainment, a company that brokers deals between celebrities and corporations. ‘Jeter could make hundreds of millions post-career.’”

Jeter’s first big post-career project is The Player’s Tribune.

It’s also on Twitter.

And Facebook, of course!

 

Branding and Millennials

17 Oct

As we have written before, millennials represent a very large and distinctive market segment — in the United States and around the world. In setting a brand strategy to best appeal to this group, various factors must be kept in mind.

In a recent study (Debunking the Millennial Myth: Initiative’s Global Research Study), Initiative – a U.K.-based media planning and buying agency — “examined the lives of 10,000 25-34 year olds in 19 countries, finding out about their lives, their mindset, how they use technology, and how they feel about brands.”

CLICK HERE here to download the full report. (Note: A short login form must be completed to access the report.)

A summary of the report has been published by MarketingCharts:

“Three in 10 millennials (aged 25-34) around the world are cynical about the way brands market to them, and that figure rises above 40% in the U.S. and U.K., finds Initiative in a new study. With such skepticism evident, brands should demonstrate their commitment to social causes and emphasize attributes such as authenticity and trustworthiness. [This] can be seen as directly related to the skepticism that many millennials hold for brands. But, they also align with some of millennials’ common traits: Millennials’ economic uncertainty and insecurity, for example, means that they appreciate brands that are useful to them and can emotionally connect with them in an authentic way.”

Click the chart to read more of the summary.

 

 

Are YOU as Cyber-Secure as You Should Be? Some Video Tips

15 Oct

Identity theft and loss of privacy are BIG issues. In this video, we point out several “scary” aspects of cyber security as well as offer several tips.

Protect YOURSELF. We can be our best friend — and our worst enemy.

 


 

Marketing to the Right Segment

14 Oct

Most companies use some form of market segmentation in their strategies. They recognize that they should not try to market to everyone but rather focus on a specific group or groups with offerings and marketing communications targeting a specific segment of customers. BUT, are all companies targeting the right customers — and are they doing so properly? Of course, the answer is no. So, how can we do better?

As Ira Kalb, a professor at the Marshall School of Business (University of Southern California), writes for Business Insider:

“As a first step, businesses should find the right ‘ballpark’ in which to operate. An effective way to begin this process is to do a SWOT analysis. For those that do not already know, SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.”

“While you already have to have some idea of the market opportunities you want to pursue when you do the SWOT analysis, it is very important to define the marketplace your company is going to target. This may require some trial and error experimentation. Defining the right market follows the Goldilocks and the Three Bears metaphor. If the market you define is too big, you will be wasting your marketing resources trying to cover it. If it is too small, you will not make enough money (based on the share of the market you can capture). You need to define your market so it is just right. That is, you’ll make enough money to produce a sufficient return on investment, and will be able to cover the market with the marketing resources you can invest.”

“Whatever criteria a business uses, the way a company defines the market for its business could mean the difference between profit and loss. While there are often greater costs to service larger markets, there can also be larger returns and economies of scale. The more a business thinks about how it will define its marketplace, the better it will be able to succeed and scale the business as it grows. Hopefully, you will get it right, and if you don’t, all is not lost. A good marketing information system can help you to fine tune your market definition so you can get back on the right track — as P&G did with Febreze.”

To read more of Kalb’s article, click the image.

 

Photo credit: Flickr/Geoff Gallice

 

Advertising Icons and Social Media

13 Oct

Over the years , there have been some very effective advertising icons, such as Ronald McDonald, Mr. Clean, Tony the Tiger, the Gerber Baby, Jared for Subway, the Geiko Gecko, and Progressive’s Flo. [Click here to see one listing of the 25 best ad icons of all time].

Now that we are in the new era of social media, what can we learn from iconic advertising symbols that can be applied in this era?

As Lizetta Staplefoote, a content marketing strategist and copywriter, writes for Visual.ly:

“Since the early days of marketing, advertising icons have been used to infuse personality into a brand and reinforce positioning similar to the way marketing content is used today. In their ability to endure and engage, there are lessons in these iconic advertising characters that you can use to enhance your content marketing strategy. Take a look at the elements of a few easily recognizable, vintage ad figures and see how you can apply their success to your content.

1. Morton’s Salt Girl – Reflect value proposition.

2. National Park Service’s Smokey the Bear – Be personable. 


3. Kellogg’s Tony the Tiger – Constantly evolve.

4. Planter’s Mr. Peanut – Show off your personality. 


5. Cracker Jack’s Sailor Jack – Play to your audience. 


6. Coppertone Girl – Be conscious.

7. Jolly Green Giant – Be different.

8. Quaker Oats’ Larry – Leverage the familiar.

9. RCA’s Nipper – Have a story.

Click the image to read a lot more from Staplefoote on the lessons from the above advertising icons.
 

 

How Branding, Differentiation, Positioning, and Corporate Identity Concepts Differ

12 Oct

We have written before about branding, differentiation, positioning, and corporate identity from several vantage points (see, for example, 1, 2, 3).

Now, here is a good, concise infographic from Insight180, the branding and design firm, that distinguishes among these important concepts:

“Many times, marketing terms get used interchangeably when they actually mean very different things. Learn below the actual meaning of branding, differentiation, positioning and corporate identity and the roles they play in business development and marketing.”

 

 

Social Media Use Growing for SMBs

11 Oct

With the immense popularity of social media, more and more SMBs (small and medium businesses) are now utilizing such media. It’s not just for the big firms anymore.

According to BIA/Kelsey’s most recent “Local Commerce Monitor” (July 2014), which is ongoing research on the advertising behavior of SMBs), about three-quarters of the firms said they are using social media to promote their businesses — “more than any other category of media.”

BIA/Kelsey reported that:

“Facebook dominates SMB usage, with 55.1 percent of SMBs reporting they have a Facebook page for business use, and 20.0 percent reporting they have run a Facebook ad or promoted post. At the same time, strong showings by other platforms, including LinkedIn, Pinterest, Instagram, and Twitter’s promoted tweets, indicate the social space is highly robust for SMB marketing. SMBs reported spending 21.4 percent of their total media budget on social media in the past 12 months.”

“The survey covers over 35 different media and platforms used by SMBs for advertising and promotion. These media fall into 10 top-level media categories: online (e.g., search, display ads, blogs); traditional (e.g., direct mail, newspapers); mobile (e.g., search, SMS, display); local coupons (print and online); social (e.g., Facebook, Twitter); video (e.g., Web site videos, YouTube); broadcast; local directories (print and online); giveaway items; and community sponsorships.”

Here is an infographic summary.
 

 

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