Sun, Dec 22 2024
Recently, I was asked to contribute some marketing thoughts in an interview with a corporation.
You could wonder, who am I to provide an opinion on the matter? It's a valid query! I do, however, have shape. As a certified marketer (CIM), I have worked in and around marketing for the most of my career. After selling a company to the communications giant WPP, I spent 10 years there.
One of the venerable marketing monoliths where I began my career was the Yellow Pages. In the past, or what I like to refer to as BI (before the internet), one way for a business to advertise its services was through the Yellow Pages, a large yellow phone book. Getting to the top of the directory was the goal of effective marketing in the past, which is why so many plumbers went by the names Aardvark, Aaardvark, or even Aaaardvark.
I had the great good fortune to observe the effects of Yellow Page advertising from the viewpoint of its users. It was successful. Making the effort to create a visually appealing advertisement was well worth it, as you were more likely to receive a call if your business was named Aardvark Taxi as opposed to Zebra Cars.
I also witnessed how the Yellow Pages' advertising affected the company's operations. It aired many ads featuring an old guy attempting to locate a fly-fishing guidebook. Many of us who are older still remember these J.R. Hartley advertisements.
These advertisements were amazing. They took on a life of their own, with J.R. Hartley surviving far past the television slots, garnering extensive press attention, book sales, sponsorships, appearances, and even a unique Yellow Pages fly that was, presumably, designed to trap salmon. I ought to be aware. Press clippings regarding J.R. Hartley's life and times were abundant; it was one of my tasks to compile them every week.
The end effect was similar to Yellow Pages rocket fuel. It accelerated it. It was formerly considered to be the most profitable and, because of its advertising, one of the most well-liked companies in the United Kingdom.
Its objective was to be adored. According to the notion, more individuals would think about advertising in the directories if they liked or loved the brand. One of its key ingredients was its advertising.
Reaching the J.R. Hartley ad campaign was not just a matter of chance. Everything was well thought out. Someone, somewhere had discovered via study that "lovability" was the opening. That influenced the creative process, and a fantastic creative team made that come to life.
I'm still thinking about this encounter. I discovered that knowing a problem or opportunity is the first step towards good marketing, and that luck plays a very small role in the process. Research is the first step in finding the "something" that will serve as the basis for a campaign or brand. subsequently, that "something" is included into the brief, which is subsequently developed into a narrative that serves as the foundation for marketing. And by marketing, I mean advertising in a wide sense.
One of my all-time favorite banking campaigns is HSBC's "The world's local bank" campaign, which serves as another illustration. HSBC possessed a brand and a logo. But with its acquisitions and growing global prominence, it required a posture that aligned with its goals and aspirations. The campaign's main goal was to "glocalize" itself so that its importance on a worldwide scale was acknowledged while its local significance was emphasized. And in a moment of creative epiphany, the bank realized that one way to communicate this would be to own the air bridges at every significant airport in the nations where HSBC operated.
Working with the bank around the time the campaign debuted was a huge blessing for me. After speaking with its CMO, Chris Clark, I saw how much thought and investigation had gone into determining how its positioning—and, in this case, its strapline—was determined.
HSBC's position was solidified by this highly acclaimed ad. Would HSBC be a well-known brand outside of the banking industry without it?
Does anyone know where it was placed before?
What does this mean, then?
Marketing ought to be seen as crucial and strategic. It covers all the bases, from building or improving a brand to identifying a positioning (narrative) and strategies for promoting it. Public relations, advertising, social media, and—more than ever—a content strategy may all be used to do this.
My recommendation to fintech startups is to not start by imitating people you find appealing or find inspiring. Additionally, avoid starting with a one-sentence brief that you posted to Fivver or a logo you made on ChatGPT. The end product will be a generic brand that resembles that of every other company.
Considering the market, perhaps I ought to have offered this guidance a long time ago.
Consider asking yourself why you are doing what you are doing, or even better, have someone else ask you. Seeking the opinions of those with a stake in the matter is also a smart move. Summarize the results in writing. Next, observe what the market and competitors have to say. Put things in writing and perhaps even include a few drawings. Identify the most important lessons from what you have (post-it notes come in extremely helpful for this). Put items in groups. Sort them into new groups. Think about it. After a while, return to it. And I can assure you that "something" will begin to show itself. That item is the seed that will sprout into what you require to get going if it is properly tended to and cultivated.
It will guarantee a genuinely authentic set of values and principles that support your vision and goal in terms of branding.
It will serve as the foundation for the narrative that will serve as the basis for your approach to content in terms of communications.
When creating your marketing, use caution. Indeed, the choice is yours. Who knows, maybe a magazine writer may utilize your campaign as a case study in years to come!
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