Tag Archives for " strategic planning "

Sailing into a big, blue ocean of opportunity.

Kevin Plank, CEO of Under Armour, likes to tell the story of his origin as an entrepreneur. And it always revolves around focus…

“For the first five years we only had one product. Stretchy tee shirts,” Plank said. “Great entrepreneurs take one product and become great at one thing. I would say, the number one key to Under Armour’s success – to any company’s success – plain and simple, is focus.”

v5-1201166-400_htfUnder Armour’s focus on stretchy tees for football players enabled Plank to create a whole new pie in the sporting goods industry. He wasn’t fighting with Nike for market share, he was competing on a playing field that no one was on. It was a classic “blue ocean” strategy… instead of competing in the bloody waters of an existing market with well-established competitors, he sailed off on his own. And he kept his ship on course until the company was firmly established. Only then did they begin to expand their product offerings.

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4 How to hire the right marketing person, the first time.

I don’t work with Fortune 500 companies. My clients rely on small, efficient teams of people for all their marketing needs. If that’s your situation, or if you have a fledgling start-up, you better think carefully about the type of marketing person you hire to spearhead the effort.

The most common mistake is hiring a specialist… someone who’s deep into SEO, or social media, or web programming, or brand journalism, or graphic design. Whatever. Those “doers” are all important players in your marketing mix, but what you need is a thinker/doer. An idea guy who can wear many different hats.

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1 The Inside-Out Approach To Building A Brand.

I’m always amazed by business owners and CEOs who spend considerable time and money on branding initiatives, only to neglect the most important component of their brand: Their people.

If you want to build a great brand, you better start on the inside and work your way out. Seriously. If you can’t convince your employees to be your greatest brand ambassadors, who can you convince?

If they aren’t drinking the Kool-aid, who will?

It’s interesting, during a brand audit, to compare the company’s external market research data with prevailing internal attitudes. I’ve seen companies that accurately claim to have a 98 percent approval rating. “Customers love us,” they say. But when we talk to employees, suppliers, past employees, and friends and family, a completely different tune emerges.

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Truth and clarity about Guerrilla Marketing

It’s 1810. Napolean’s armies have conquered all of Europe and are enjoying the spoils. But in Spain, small bands of dedicated freedom fighters wage their own war against the occupying forces. They strike. Move. Hide. And strike again. They involve the enemy in a long, drawn-out war, and ultimately prevail.

That’s how the term Guerrilla Warfare came to be. The literal, Spanish translation is “small war.”

Fast forward to 1983. Jay Conrad Levinson, an old-school, advertising guy from Chicago, borrows the term for a marketing book he’s writing. “Guerrilla Marketing” becomes one of the most popular business books of all time, with endless spin-offs and merchandise tie-ins.

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2 Non-profit branding… a story of start-up success and failure.

In 2009 I called it “A feel-good brand in a bummed out world.” It was the type of organization that genuinely touched people, and put smiles on faces. For me, a few minutes at Working Wonders Children’s Museum was a sure cure for a crummy day.

WWLogo - smallOur story of success, and failure, is valuable for anyone who’s starting a new business or running a non-profit organization.

When we started Working Wonders we did a lot things right. It was “by the book” all the way. First, we thoroughly researched the market and determined that there was a gaping need. Then we wrote a mission-focused brand strategy, and built a business plan around that. We came up with a great name, designed a nice logo and put an operational plan in place based on our cohesive brand platform.

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5 Strategic Thinking vs. Tactical Acting

The single most popular article I’ve ever written focuses on the difference between marketing strategy and marketing tactics.

Seems there’s a bit of confusion there. For example, I saw a blog recently titled “Top 10 Social Media Strategies.” But the list was purely tactical. Not a strategy to be seen.

So if you’re one of thousands who is still a bit unclear, you can read the original article. Or here’s another way to look at it…

At BNBranding we talk about Insight vs. Execution. Insight being the crucial strategic thinking that has to happen before you execute the tactical plan. Think, then act.

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5 Want to build a brand? First, own an idea.

I think all entrepreneurs should study advertising.

Advertising is an industry of ideas. Great ideas — paired with exceptional execution — produce growth for clients, win awards, and vault agencies into the national spotlight.

The same can be said for brands. Businesses that start with a big idea, and then stick to it, are the ones that become iconic brands.

Campbell’s owns the idea of “comfort food.” That brand is not about the soup, it’s about the rainy day when your kids are home for lunch and you sit down for a bowl of soup and grilled cheese sandwiches. Campbell’s warms, comforts, nourishes, takes you back in time and puts a smile on your face. All for less than a buck.

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7 Put some meat in your marketing messages.

Every year, millions of dollars are wasted on advertising that is well-produced, but not very well thought-out. Kind of like a supermodel… nice to look at, but there’s just no substance there.

I was talking with a restauranteur the other day about this very subject. No, not the models. He had retained an ad agency to help promote his launch, but after our hour-long conversation, he had talked himself into never going back.

The agency in question produced a website, some print ads and a slogan without having a single, meaningful conversation with him about his business. If they had, they would have known that this particular business owner didn’t understand his own brand.

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Just say “NO.” How to build your business by bowing out gracefully.

Saying no is one of the most difficult, yet liberating things any business owner can do. You might want to practice at home, with your kids.

The most effective managers and executives say no a lot. For instance, they politely decline to pursue business that doesn’t fit their strategic objectives. They say no to employees who try to hijack their time. They don’t tolerate overblown financial projections and long, drawn-out presentations. They say no to new initiatives that doesn’t fit the brand personality or the corporate culture.

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