The Credibility Branding Blog

Evidence of Credibility Branding in History

I am watching a special called Assume the Position 201 with Mr. Wuhl. It looks at the myths in American History. Comedian Robert Wuhl cites an interesting story about how Franklin Pierce the 14th president of the United States) marketed himself through his college buddy Nathaniel Hawthorne. Nathaniel wrote glowing testimonials about him in a book devoted to Peirce. At the time Hawthorne was like a rock star, having written three of the most popular books of the time including The Scarlet Letter. This association and endorsement by Hawthorne turned the tides for Peirce who had been a relatively unknown candidate.

This is a perfect example of using influencers to increase your status that the Credibility Branding model is based on. See this has been in use for literally centuries!

Is Sorry a Strategy?

What do you do when you did something wrong? The following article by ExecuNet’s Robyn Greenspan brings up some great insights into the changing landscape of crisis management, specifically when is “sorry” not enough. I would like to contribute an additional point of view, as a communication specialist I work with how different words that may seam like the same thing actually mean something quite different. For example in the case of “I’m Sorry” vs. “I apologize,” In most instances “I’m Sorry” means “ I am sorry you feel that way” where “I apologize” means the person has take responsibility for their actions and is feeling repentant. The energy of these two approaches can be felt through the tone and the style of the media advisor/press release/web site content. You can definitely sense that the tone of I’m sorry is different and not as forthcoming as an “I apologize” type of approach. So when you are about to have a mea culpa moment reflect on which of these energetic versions you want to use. In fact using “I’m sorry” does have its place especially when it isn’t your fault at all. Regardless all of it affects your brand so think it through.

Is sorry a strategy?
Robyn Greenspan, Senior Editor, ExecuNet Email Newsletter

John Mackey, CEO of Whole Foods, is the latest apologist for his role as an anonymous Internet user who posted negative messages about competitor Wild Oats on financial stock forums. It may seem like a MySpace prank at first — an impulsive action from a high schooler who didn't get a prom date — but Mackey routinely posted on these message boards for eight years.

Mackey's actions were certainly opaque, and his apology seems to represent transparency. But with a recent wave of public "sorries" from visible figures — Paris Hilton, David Neeleman, Don Imus, Mel Gibson and a growing list of politicians — these megawatt mea culpas may no longer suffice. In many cases, the apology seems less about reprehensible actions and more about "I'm sorry I got caught."

While the antics of drunken celebrities, corrupt politicians and greedy corporate executives (Enron, Tyco, etc.) may not surprise us — and may sometimes be expected — Mackey's actions are more disappointing. Whole Foods, like Neeleman's JetBlue, are supposed to be the good guys — socially conscious, friendly, customer-centric companies that care about their employees, the earth and doing what's right.

They both issued very public apologies, but Neeleman's and Mackey's downfalls are decidedly different. The former faced a customer service debacle while the latter deliberately deceived stakeholders; Neeleman absorbed the blame for issues where he may not have been directly responsible and Mackey's consistently poor judgment put his company and — especially its brand — in jeopardy.

Does Advertising Still Work

When done right advertising is still an important marketing tool and still works, especially according to a recent study done by MediaWeek. They key is however to have lots of money. If you don't have that, there are all kinds of alternatives, but this is interesting to review and remember (from 5 Blogs Before Lunch quoting from a MediaWeek article)...

Strong Correlation Between Ad Spending and Buzz Generated in the Blogosphere

Here's more proof that integrated advertising works. Since the dawn of advertising, multi-media campaigns (television, radio, newspaper, magazines, and now online and buzz marketing) have shown the best results for advertisers.

Now, a new study reports that for new brands, there is a strong correlation between ad spending and buzz generated in the blogosphere.

A report by Nielsen BuzzMetrics and Nielsen's BASES research division shows that traditional advertising and online word-of-mouth are very closely connected. After analyzing 80 consumer packaged goods brands launched in 2005 and 2006, Nielsen found that the top 10% of products with the most buzz spent on average about four times as much on advertising than those in the bottom 50%.

From Mediaweek:

Among 80 consumer packaged goods brands launched in 2005 and 2006 that Nielsen studied, the top 10 percent of products with the most buzz spend nearly $20 million in advertising. In contrast, the products that accounted for the bottom 50 percent of buzz generated spent roughly $5 million, or a quarter of what the most buzz-generating brands spent.

However, ad spending is not the only factor in play, found the report, as certain brands simply lend themselves to more buzz. Just 10 percent of the brands studied accounted for 85 percent of total buzz generated, indicating that select brands drove more than their share of interest. Nielsen said it discovered that over the counter drug brands - given consumers' high involvment with them - along with brands with edgy image drove a disproportionate amount of buzz.

“Most CPG products are everyday items, lacking in distinction and therefore propensity for buzz,” said Kate Neiderhoffer, director of methodology, Nielsen BuzzMetrics. “However, there are some exceptions to the rule, as evidenced by brands like Red Bull, Altoids, Crystal Pepsi and Viagra. The CPG industry should challenge itself to bring more innovative products to market, cultivated with more innovative marketing. The buzz will follow.”

Here's more proof that integrated advertising works. Since the dawn of advertising, multi-media campaigns (television, radio, newspaper, magazines, and now online and buzz marketing) have shown the best results for advertisers.

Now, a new study reports that for new brands, there is a strong correlation between ad spending and buzz generated in the blogosphere.

A report by Nielsen BuzzMetrics and Nielsen's BASES research division shows that traditional advertising and online word-of-mouth are very closely connected. After analyzing 80 consumer packaged goods brands launched in 2005 and 2006, Nielsen found that the top 10% of products with the most buzz spent on average about four times as much on advertising than those in the bottom 50%.

From Mediaweek:

Among 80 consumer packaged goods brands launched in 2005 and 2006 that Nielsen studied, the top 10 percent of products with the most buzz spend nearly $20 million in advertising. In contrast, the products that accounted for the bottom 50 percent of buzz generated spent roughly $5 million, or a quarter of what the most buzz-generating brands spent.

However, ad spending is not the only factor in play, found the report, as certain brands simply lend themselves to more buzz. Just 10 percent of the brands studied accounted for 85 percent of total buzz generated, indicating that select brands drove more than their share of interest. Nielsen said it discovered that over the counter drug brands - given consumers' high involvment with them - along with brands with edgy image drove a disproportionate amount of buzz.

“Most CPG products are everyday items, lacking in distinction and therefore propensity for buzz,” said Kate Neiderhoffer, director of methodology, Nielsen BuzzMetrics. “However, there are some exceptions to the rule, as evidenced by brands like Red Bull, Altoids, Crystal Pepsi and Viagra. The CPG industry should challenge itself to bring more innovative products to market, cultivated with more innovative marketing. The buzz will follow.”

Discovering What & Who Your Ideal Client/Customer Is

I am a huge fan of Eric Albertson, the advice in his newsletters are spot on and his professionalism is beyond measure. With that I am posting his most recent newsletter verbatim, and check out the info at the end for his workshop it is worth looking into (No affiliate programs here just admiration)! This pretty much covers the steps, there  is a depth of strategy that is behind this and could be applied a bit more, but this sums it up nicely.

Success Tips Newsletter - In this issue: Case study: question from a reader

by Eric Albertson www.SucceedingInBusiness.com   

The question:

I'd like to talk with you this week about the profile of my ideal client. Until I took your Marketing Fast Track class, I would have said, everybody with more than 5 staff can use our services, therefore everyone is a target, right?

My guess is: "Wrong." 

I would like to clear this up and set up my elevator speech as clearly as possible.  I am the guy who sets all the appointments for my firm; everyone is counting on me for sales appointments.

I know that I need to narrow my target market and tighten up my message but I am not clear on the best way to do this. Today I rely heavily on cold calling, seminars and networking to create leads. It is lots of work for relatively few leads and fewer sales.

The website we have is a shambles, it creates no leads. We do quite well out of referrals but considering we have a 500+ client base I am sure we could do a bit better.

What steps do I need to take to quickly get into action and get better results?

Eric's Response

First, I would figure out some basic characteristics of who has purchased from your firm in the past (industry, turnover a.k.a. annual revenue, what they bought, how long they have been a customer, etc) and chart that out.

Consider the fictional example:

• 80 percent of our buyers come from four types of      businesses:
       1. Import/export firms
       2.  Freight forwarders
       3.  Drayage operations
       4.  Port storage operators
• They average 200 employees per firm
• They are usually 20+ years old
• They have at least $10 million in annual revenues
• They are all on the East Coast
• They are all growing slower than the rest of their      industry

Describe your top three ideal clients, according to what the customer data suggests:

Example

East Coast import-export firms, averaging at least $10 million per year in revenue, who are struggling to grow as fast as the rest of their industry.

Next, build a list of everyone who looks like your ideal clients. The library is a great place to start. Get as many on the list as you can.

Next, I would take a quick inventory of the testimonials and stories you have from your ideal clients. If you don't have two to five testimonials and two or more stories for each ideal client, get more as soon as possible.

Inventory the top three problems your company addressed for each ideal customer and the top three aspirations or goals each had.

Now list the outcomes each ideal customer sought when engaging your firm, and the results they got. (They did keep buying didn't they?) For example:

· Wanted to grow faster than our industry

· Reduce our turnover

· Increase our net margin

· And so on.

Next, build an inventory of 15 - 25 benefits you offer each member of your ideal customer set.

Now create two to five statements that make the case for why your firm is able to address these needs and aspirations. These can be very simple, such as:

"We have been delivering great results to global importers for more than 20 years." Follow this with a quote.

Now make a brief statement that describes the process you follow to deliver the results.

Finally, jot down two or three next steps you want the client to take (e.g., read this, call me, set an appointment, etc).

Your elevator speech or audio logo will consist of the following:

"We help ____________________________(ideal customer targets #1), who are struggling with _____________________________(ideal customer targets #1 typical problem).

When they say, "Tell me more," you've reached first base.

Now you simply repeat the audio logo again and say, "We helped them get ______________________________ (ideal customer target #1 desired outcome)".

Perhaps a brief story will help.

Some of the benefits customers report getting are: _______________________________________________

People come to us because: ______________________________________ (List your points of credibility.)

May I suggest _________________________________________ (call to action appropriate to your base location on Marketing Ball).

The process above will give you a great start for your elevator speech and audio logo. And it will be your foundation for a web site that converts.

Next, we want to put a lead source on all 500 of your clients, so we have a clear idea of which marketing efforts have been working in the past. That way we can be careful to not stop doing the things that have worked.

After that, we take all the businesses in your funnel and put them in one of the following buckets:

· Strangers

· Affiliation

· Attention (a.k.a. "Tell me more.")

· Familiarity

· Information

· Experience

This is not the whole fix, but it's a powerful start to getting out of the business of cold-calling, and working too hard for too little.

If going into depth with something like this is of interest to you and would help you get more business, you can register for the Marketing Fast Track class starting TOMORROW, July 10^th at 12 noon, Pacific Daylight Time. Each session is recorded so that, if you have to miss a session for vacation or an impromptu golf date, you can still get the value and stay on track.

I have only two spots still open, so register fast if you think this will help you get out of the cold-calling business. Our next class won't start until September or October. Register NOW !