X-Factor at the Up-Fronts
What would you learn about your brand if roles were reversed?
Back in May $9B of TV advertising money was in NY looking for TV networks to call home for their messages in 2013. Media buyers united in for a barrage of presentations, performances and parties put on by the TV networks putting their best content forward hoping to lock up the share of the wallet the audiences had available. From Radio City Music Hall to Carnegie Hall the TV stars, rappers, talk show hosts and Network Executives were put on display for all to idol.
Every presentation spoke to which audience the network dominated (or plan to dominate). Men to women, general market to Hispanic, working class to affluent every audience appeared to have a network that was prepared to own their ratings. Each network promised content by day and daypart (AM to late night) that was sure to dominate drama night, comedy or reality.
This brings me to your brands reality. At the up-fronts network executives had to pitch their programming, their content and ultimately what their network was all about. The hope was different corporate brands would see the parallels between themselves and networks and conclude- “CBS is the network for my company!” Based on who they both dominate, when they dominate and what they stand for it should be obvious how brands and networks align.
THE FANTASY:
What if the roles were reversed between your company and the Networks? Imagine a fantasy state where all the Networks showed up to NY to hear each of the Fortune 500 brands CEO come on stage and say “welcome to the (insert your company name here) upfront”. Imagine if Networks had so few commercial slots and so many advertisers they were in the driver’s seat. What if you and your executives had to sell your company to the Networks to get air time? If successful your company would be allowed to air your messages on desired programming. Otherwise, your messages would be shut out. Talk about Reality TV! How would your brand win and stand out?
THE REALITY: Eli Manning (CBS Upfronts)
First your brand would have to have a very clear consumer strategy that appealed to the Network executives. Who do you really want to dominate demographically? Psycho-graphically? Attitudinally? When do you want to engage and why? AM, evening or late night? The basics will have to be covered as table stakes in the minds of the Network brass. Many marketers’ at this point are exhaling a big “duh” right at this point. Customer segmentation is a basic. However to the picky Network President they will ultimately check all the basic boxes and still seek the answer- “why should I select your brand to advertise in my #1 hit show that has limited advertising slots?” The answer ultimately will be found in your brands purpose.
PURPOSE:
Your brand’s purpose is simply why the brand should exist to the customer? An insurance company’s purpose may be to provide “peace of mind that anything gone wrong will be made right immediately”. It would organize them to have 24 hr call phone support, fast dispatch of a claim team, counselors on hand for crisis management. Do all of these programs have a measurable ROI? Hard to say individually if they each have a payout. However your brands purpose leads itself to your company’s overall ROI. It provides your marketing to work harder because it has something meaningful to message. It provides a reason to desire your company as a consumer. It provides an easy way to validate initiatives on your white board should be in or out by simply asking, “Does this program pay off on our companies purpose?”
In Adage a popular search engine’s purpose was cited to be “to satisfy every curiosity”. Makes sense because anyone searching on Google is on a quest for knowledge. A retailer’s purpose may be to allow people a “higher standard of living through lower prices”. These are not advertising language, its internal language. It’s how you organize your company internally as well as marketing. However a purpose comes with responsibility which could extend beyond marketing. PR, corporate relations, employee training and scope of your business could all be impacted. In short your purpose is a key cog in your strategy. In this "pretend" retailers purpose they may strategically forgo investing real-estate in affluent neighborhoods- a decision they may not have made without a purpose.
Let’s stay with the purpose of “higher standard of living through lower prices” as it is a popular one with several retailers. The products the retailer buys to re-sell must be able to meet the purpose, the companies cost structure must be able to support the purpose. Perhaps buyers at this retailer call vendors collect to save on their phone bill to reduce their cost structure even more (don’t laugh I have heard tell of this very action at the big W). Only when a company truly rally’s behind the big idea will the advertising actually ring true to the customer. The invitation will match the party and the “cumulative” effect will take hold. Your purpose is genuine!
If you asked ten people “what do you think Wal-Mart stands for?” You probably would get the majority of them answering something having to do with low prices. Like their purpose or not they have one and their company rally’s around that idea. A network executive who dominates the struggling middle class may have determined that Wal-Mart is a brand they would want on their network. HGTV may have desired Home Depot. ESPN may have determined Dick’s Sporting Goods were for them. CNN may have determined Viagra has a place on their Network- but I won’t get into that.
CHALLENGE:
After you determine who your customer segment is or should be, ask yourself the question you should have considered beforehand. What’s your brands purpose? Why should your brand exist on the competitive landscape (consumer facing)? Blockbuster’s purpose should have been all about delivering video entertainment for those who seek to be entertained- not video or DVD rentals. With the right purpose, where ever entertainment was happening Blockbuster’s R&D should have been there. From the red carpet to your living rooms carpet entertainment has no boundaries so why should Block Buster confined themselves? Reinvention of how your company pays off their purpose is the strategic plan not reinventing your purpose every year. A purpose strategy would not only have won over the Networks CEO’s in this fantasy example but will win you customers today in reality. Ask yourself now- “what is my company’s customer facing purpose?” Many don’t have one and wonder why they struggle.
Please share your company’s purpose or lack of one and comment!
