Archive for June, 2012
It’s a digital horse race and marketing execs aren’t running.
Here’s an interesting post from Mark Schaefer that would indicate that perhaps marketing execs still don’t place the same level of importance on digital marketing when compared to more traditional marketing channels.
Schaefer’s post is based on a Harvard Business Review report that stated only nine companies in the Fortune 500 would be regarded as having a “highly digital” orientation.
Couple this finding with reports that digital media spending still significantly trails traditional spending and it would cause one to wonder how much importance marketing execs place on digital. And this is given the fact that digital media channels are growing much more rapidly than traditional.
A couple factors could be hindering digital growth in the marketing world: 1.) The reluctance of some execs to change and 2.) The need for a better demonstration of ROI from digital media.
I think everyone agrees that digital will move forward. The question is how quickly will it grow in the marketing world?
Often, it’s not the lack of aspiration that leads to mediocrity, but the expectation to excel too quickly. We live in an always on, deliver today society. While it’s certainly important to set goals, patience in achieving those goals is just as important.
Most great success stories took time to blossom. These stories were marked by hard work and determination that ultimately brought a vision to life. Periods of setbacks and advancements were common, and they’re part of all journeys to success today as well.
Temptations abound to shift priorities to new shiny objects, trends or developments that promise quick success. But continually doing that assures never really achieving much of anything. Sometimes the best thing to do is stay true to your first strategy, only commit to doing it better.
Does the age of social media and connectivity spell the end of “branding?” Many people claim this is the case. In reality, it’s not true.
Social media does present some unique challenges to brands. People can complain publicly when expectations are not met. These complaints, if they persist and spread, can also damage a brand. But, brands for the most part still control their own destiny.
The best definitions and concepts related to branding often come from company CEOs. I had the chance recently to listen to some great branding wisdom from Greg Brown, CEO at Motorola Solutions, a company that’s had great success developing its brand internally and externally.
Here are some of the insights he offered:
“Brand is the image you create and the experience you deliver.”
“Implement a brand framework around a cultural identity.”
“Create a brand purpose. Is what you’re doing fitting that purpose?”
“Determine ‘how’ the brand speaks, not so much what it says. Be concise, human and imaginative.”
These aren’t comments that indicate a loss of the ability to develop a brand. Much to the contrary, developing a consistent and powerful brand is still very achievable, despite the prevalence of social media.
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