In the age of Amazon is brand loyalty still a thing?

By | Brand | No Comments

Are you loyal to fewer brands now than you were ten years ago? Before you read any further take a few minutes to write down the list of the top 10 brands you are highly loyal to — i.e. you buy them every time you go to the store. How long did it take you to list ten? 

For me it wasn’t easy to quickly come up with my list. I really had to think about it for a while, so maybe I’m not as brand loyal as I used to be.  One reason could be that I now buy a lot of products on Amazon Prime (TP, tissue, laundry detergent, paper towels, dog bones, etc.) where I don’t care as much about the brand as long as the rating is good and the price is low (Amazon’s private label is good enough in most cases). 

That’s a big change from just a few years ago when I went to the grocery store and bought the same name brands trip after trip. Then again, maybe I wasn’t truly loyal to Bounty towels or Puffs tissues but I just bought them because they dominated the shelf space — and because it wasn’t worth the effort required to evaluate the quality/value of the competitors. But today Amazon, and other online stores, make it super easy to find dozens of alternative brands with great quality/value and have them delivered to your door. Plus the big name brands have a tough time dominating your field of vision amongst the 20 other products on the page.   

Not surprisingly (and like millions of other people) I’m no longer loyal to “commodity” brands — sorry P&G but store/private label products are damn good these days.   

So what brands am I loyal to?  It took me a couple hours to come up with the following list.  

F45 – technology enabled gym featuring 45 minute high intensity workouts. I’m addicted and as a result am now in the best shape of my life (hence my loyalty).

Lucky Jeans – the most comfortable jeans I’ve found after trying dozens of different brands over the years.  Lucky always fit great, look good and last a long time.

Academy Sports – carries a huge selection of sportswear, sneakers, BBQ supplies, branded team wear, outdoor gear, etc. Unlike any other store, I actually enjoy roaming around Academy checking out all the various things they offer and I usually leave with something I hadn’t planned on buying. 

Southern Tide – both casual and business casual clothes that fit my style, are high quality and regularly come out with new items that I like. I particularly enjoy their shirts that look like “dress” shirts but are breathable, stretchable and wrinkle-proof — they’re great for the 100 degree days here in Dallas.  

Westin Hotels – after 30 years of travel I’ve found that Westin consistently delivers a great experience from location to location all over the world. They’ve kept their properties up-to-date and stylish. And their resort properties are an excellent value relative to the 5-star brands.   

Luchese Boots – the best fitting and most comfortable boots ever. I don’t buy boots often but when I do I only look for Luchese since they are crafted so well they feel great on your feet day 1.

Garden of Life – the highest quality vitamins I’ve found after evaluating dozens.  I’m very careful about what I eat and a lot of supplements are full of junk so I appreciate the high quality manufacturing processes and pure ingredients Garden of Life uses.

Nolan Ryan beef – the best quality steaks for the price.  That is the key when it comes to steaks.  I’ve trusted the butchers recommendation from behind the counter and wound up paying 50% more than Nolan’s steaks which taste just as good, if not better.  Importantly Nolan’s steaks have never let me down — in 10 years I can’t think of a time I’ve been unhappy with one. That’s hard to do in a highly variable product like cattle. 

Vital Farms – great tasting, high quality, pasture-raised, organic eggs.  I eat eggs nearly every day and found these to have the best nutrition/taste for my money — 20X better than grocery store white eggs.  

La Hacienda Ranch – local Dallas restaurant with the best fajitas anywhere on the planet for over 20 years. There’s no need to try anyplace else, take my word for it.  

You’d think that my list of brands would include high consideration things like cars, appliances and electronics that involve lots of time, research and money to acquire.  Nope, for those products I like to research the latest innovations which means I frequently change brands when someone comes along with more/better features (the iPhone is an exception – see P.S. below for the reason). Interestingly my list is mainly comprised of lower price point products so it’s not a high risk proposition to make a switch.  Even in the case of my gym, F45, I have a 2-week cancellation so there’s not much risk to trying other places.  

So what’s the explanation for my loyalty?  Honestly, I think it’s the old fashioned definition of brand — these products deliver on their brand promise of superior quality, taste, style, service, etc. every single time I buy them.  And now that I’ve found the absolute best in each category why would I bother wasting any more of my time?

So despite my initial thoughts that brand loyalty has eroded, I think it’s alive and well, even for things like steak, eggs and fajitas. The key to brands earning consumers’ trust is the same as it’s always been — you’ve got to deliver a superior product (quality, style, value, etc.) consistently over very long time.   

P.S.  Even though I have been loyal to my Mac and iPhone for years I did not put Apple on my list. Now I find Apple products to be buggy and bloated with poor UX — does anyone enjoy carrying 5 different dongles to connect devices to their Mac….or a dongle to connect their “old” headphones to their iPhone???  But, even though I’m frustrated with Apple, I remain loyal because the switching costs are just too high.  

Is Net Promoter Score (NPS) Useless?

By | B2B | No Comments

Quick post to highly recommend you read this article on the many flaws with Net Promoter Score (NPS) as a measure of customer happiness and loyalty. I am honestly mad at myself for not digging more into the NPS methodology years ago when our head of operations implemented it and we all started using it to measure how successful we were with customers. Reminds me of the time my doctor told me to quit eating eggs (I love eggs) because they are “bad for you” only to have that medical “wisdom” completely repudiated years later.

Anyway, do yourself a favor and read the article found here.

Good Chief Marketing Officer [CMO] Role Description

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An executive search firm sent me this Chief Marketing Officer role in Dallas and I found it to be one of the better descriptions I’ve seen. Others I receive are many pages long covering every last detail, but I like this CMO role description because it hits the major responsibilities clearly and concisely. Take a look and let me know what you think should be added/changed.

The Position: 

To support the achievement of short and long-term strategic objectives and to ensure our continued growth, we are seeking a Chief Marketing Officer to assume complete responsibility for our marketing activities. Reporting to the CEO and interacting frequently with the Board, the Chief Marketing Officer will serve as a member of the senior management team. 

The Chief Marketing Officer will lead the Company’s new positioning, determine and execute the messaging, and effectively shape the public perception of Confidential Company to ensure the Company’s continued growth. Additionally, the Chief Marketing Officer will create and maintain a strong marketing infrastructure; attract, build and manage a lean, cohesive and proactive marketing team; develop and execute innovative marketing strategies that build brand recognition, market relevance and awareness; and define a communications strategy and approach that optimizes the company’s position.

Key Responsibilities 

● Assist in driving strategy by working with the executive team on strategic development of products and services with the goal of productizing, merchandising, pricing, packaging, and promoting the company as it transitions from a business process outsourcing (BPO) provider to a technology-driven advertising and marketing services provider. 

● Bring a focus to market expansion and increase the visibility of our market presence and impact, particularly among our target audience and stakeholders. 

● Partner with sales leaders, sales teams and clients, and consistently ensure that all marketing tactics and strategies are aligned with sales activities and revenue generation. 

● Provide insight to optimal pricing strategies by working with sales, operations, finance and product management in order to fully understand the detailed economics and profit levers of all products and services. 

● Own product direction and strategy by developing an intimate understanding of the existing and planned products and services. Utilize input from clients and the marketplace and collaborate with peers to further refine the future product roadmap and achieve a best-in-class experience for customers. 

● Build and execute a long-term strategy for generating profitable leads via advertising, public relations, social media, event marketing and other means. Align lead generation tactics in support of vision and strategic goals. 

● Achieve full potential for the company’s brand by creating marketplace “buzz” and ensuring that all customer touch points produce an experience that is consistent and positive. 

● Provide management over the content and flow of all outbound communications and all promotional initiatives including websites, blogs, trade shows, search, online advertising, print advertising, sales support materials and client/sales messaging to ensure they’re consistent with the brand. 

● Analyze and report on the ROI of marketing initiatives. 

● Prepare the annual marketing plan and budget. 

● Build and lead a highly talented marketing team who can work together with a shared mission and goals and collaborate with other departments in the achievement of Company goals. 

● Implement customer advisory board and conduct focus groups to strengthen our strategy, become thought leaders in our chosen markets, and refine our product road map. 

● Provide management over and collaborate with human resources on “internal” branding guidelines to align them with external positioning. In addition to internal marketing communications, this would include a review of the Company’s mission, values and culture. 

● Create and deliver effective interactions with the Board that communicate the marketing team’s accomplishments, activities, and strategies in a clear and compelling manner. 

● Work with executive team to build Company culture and support an open and highly collaborative work environment that fosters high engagement both internally and externally.

Qualifications 

● Previous success in a similar position at a digital marketing services company; experience with small business customers is a plus. 

● 15+ years of experience-based mastery of contemporary marketing practices, demonstrated understanding of changing market dynamics, market development strategies, customer decision-making processes and business-to-business brand management, and expertise translating them into actionable strategies to achieve strong brand recognition and market awareness. 

● Advanced experience working with a variety of marketing teams on branding and messaging to different target audiences. 

● Entrepreneurial and risk-oriented, with an understanding of the dynamics of small, high-growth companies, and the ability to work in a rapidly changing environment. Comfortable with risk/reward equation in an emerging growth company. 

Desirable Personal Attributes 

● “Respectful persuasion” style of communication. Ability to align the organization behind a groundbreaking vision yet honor the Company’s heritage and existing strengths. 

● Natural leadership know-how with the ability to effectively lead others who have deeper industry knowledge and experience. In addition, he/she should have a track record of inspiring confidence, high energy and focus while leading an organization through uncharted waters. 

● Well-rounded business orientation with knowledge of how to optimize both revenue and profitability. The successful candidate should have the ability to demonstrate an unmistakable link between the marketing function and overall financial results. 

● Proven ability to integrate and synthesize diverse and previously separate talents, knowledge and technologies to create entirely new solutions. 

● Agile and adaptive style that effectively anticipates and reacts to changes in marketplace environment. 

● Never ending curiosity and the ability to constantly refresh his/her insight and perspective on intellectual, experiential and personal levels. 

● A reputation as a motivated and relentless self-starter. 

● Strategic orientation, strong problem-solving and analytical skills, combined with the ability to execute at the tactical level. 

We Need More Humor in Business and Marketing

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I get dozens of email newsletters each week and struggle to read them, but one that I open 100% of the time is the Marketoonist by Tom Fishburne. He’s kind of the Scott Adams [Dilbert] of the marketing world and does an outstanding job of poking fun at my profession. Check out his recent TEDTalk below about how we can use humor to create a better workplace culture and drive creativity.

One tool that Fishburne uses in all his corporate engagements is sending out a cartoon with an empty dialogue box and asking participants to add a funny caption. Below is the one he did for the MarTech Conference last year and my winning entry [full story here]. I’ve used this approach myself as a fun way to kick off sales/marketing meetings — giving props to the best submissions and getting everyone in a relaxed and creative mindset right off the bat.

Rebranding to Remain Competitive

By | Uncategorized | No Comments

Some branding agencies can be over the top like shown in this cartoon, but I’ve seen way too many companies that got started with a great product and didn’t give their brand any thought.  Some have no documents about what their brand stands for and no brand style guide, so they wind up with a constantly changing kludge that looks terrible and turns off potential customers researching them online. Now they’re facing dozens of competitors and are being beaten by those who invested in branding and marketing that conveys their value proposition and drives customer interest. In today’s hyper competitive markets you must stand out from the crowd across all aspects of marketing and customer experience and that all starts with a well defined brand.  Check out my ebook on rebranding for a straightforward process you can use to rebrand your company.  

501 Questions Every B2B CMO Needs To Ask

By | B2B | No Comments

Taking the reins as a new Chief Marketing Officer can be daunting.  You need learn all about the company, strategies, markets, products, customers, competitors, processes, technologies, etc. — not to mention all the myriad details about the marketing team, brands, plans and budgets. What does the marketing team do well? What do they not do well? What do they not do at all?

You’ve got just a few months to gather the information, analyze it, identify gaps, develop your plan and present it to the CEO and Board.

Having gone through this process several times, I created an Evernote list with questions to ask in order to be thorough in gathering all the information. Over the years that simple list grew unwieldy with hundreds of questions so I dumped it into a Word doc and then got the bright idea to turn it into an ebook for B2B CMOs [the only one of it’s kind I believe].  We each have unique experiences, so while I think this book is pretty damn comprehensive, I’m sure that I have missed things and welcome your feedback.

How to Build a B2B Demand Gen Engine & Dashboard

By | B2B, Demand Generation, Presentation | No Comments

As a Chief Marketing Officer, I frequently research B2B demand generation topics online, and more often than not, I find fluffy decks full of the same old stats but lacking any practical guidance on how to do it.  Hence I decided to write my thoughts on the critical requirements to drive revenue through marketing along with my detailed dashboard template for measuring/reporting the results and ROI. As always it’s impossible to deliver the whole context in a deck so please ping me if you’d like to go below the surface of the content.

#CMO #ChiefMarketingOfficer

Stand Out from the Crowd for Your Media Pitches and Speaking Submissions

By | Brand | No Comments

If you’re looking to get more PR coverage and more acceptances for speaking opportunities then you need to stand out from the crowd of people you are competing with.  I use the EnhanceCV platform to create a nicely designed short bio that includes the highlights of my experience [one sentence for each role], a quote about my marketing philosophy and links to the key content pieces I have created on relevant topics along with key bylined articles I’ve written.  It’s then quite easy for a reporter or event committee to view my work and make the decision that I’m worthy of consideration.  Check out my bio here.

#CMO #ChiefMarketingOfficer

leadership meme

My POV on the Top Traits of Great Leaders

By | B2B, Leadership, Presentation | No Comments

A Presentation On Leadership That Doesn’t Take Itself Too Seriously

“People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” – Maya Angelou

Great leaders are a pretty rare thing. In fact I can only think of a few that I’ve worked with/for in my 30 year career. One trait that those leaders all have in common is that they intentionally study leadership and purposefully experiment with various principles and skills.  They make mistakes and fine-tune their leadership styles over time.  Towards that end I thought about all the strong leaders I know, as well as my own experiences as a Chief Marketing Officer leading global teams and built this straightforward deck with seven key traits that can be developed and ten key skills that can be practiced.  One lesson I learned at a young age is to not take yourself seriously, so in that vein I used humorous memes to balance out some great quotes I found for each aspect of leadership.  Of course I have many stories and talking points that support each slide so if you’re interested in that level of detail ping me directly and I’ll be happy to talk through the deck with you.  Leadership is a very complex and nuanced thing and I don’t pretend to have all the bases covered, so I’d love to get your input on anything I may have overlooked.

> Click to view 20 Traits of Great Leaders by Todd Ebert

#CMO #ChiefMarketingOfficer