Month: August 2021

By Andrew Dabbs, Digital Media Strategist at The MediaShop

A trap that many digital departments tend to fall into is to buy the cheapest online inventory, regardless of whether they are sites that you or your clients would usually steer far clear of.

Justifying cheap inventory for the sake of ‘audiences’ will only hurt the brand, and your reputation in the long run - so buy right the first time. The better the campaign’s content and quality of the online platforms the brand is being advertised on, the more likely the brand will enjoy an excellent audience.

With the digital media industry and everyone playing in the same sandpit of budget, we often get told that we can do the same as someone else at a lower price. But I believe that we need a standard of what is being brought to the table, we need to have publishers and inventory vetted so that agencies can work with accredited partners. Don’t we do this with OOH sites that need to have council approval? So why should digital be any different?

When it comes to buying cheap inventory, you’ll never see a TV planner choosing odd spots and time slots so that we can “save” budget. No, the planner works to the agreed upon AR’s and buys the right spots at the right price to ensure that the client’s ads are being seen by, most importantly, the right audience. So why when it comes to digital do agencies insist on buying at the cheapest cost?

Overall, the digital world is still a mystery for many, exacerbated by the fear of fraud, cyber-attacks, social backlash and concerns of where content is placed. But it’s not all bad out there folks, there are many good people, multiple good publishers, good tech, good agencies and really great clients. We just need to find the balance between quality and quantity. We need to invest in the right people to get the right results and most of all, we need to all upskill ourselves to know more.

It is possible to stop the devaluation of digital as a collective and no longer stand for substandard products or dream ideas of first world tech that just don’t exist. We don’t stand for substandard delivery on other media platforms, so digital should not be any different.

Moti Grauman, Digital Media Strategist at The MediaShop explores the Audible Logo as a crucial part of branding.

What is a brand?

As a marketer with more than 20 years' experience, I should probably know, but I am not sure that I do. We talk about things like brand building, brand love and affinity, salience, resonance and mental availability. We know what we mean, as do our clients, but that's not the same as really understanding the essence of a brand.

In his book Sapiens, Noah Yuval Harari argues that a brand is simply an agreed social construct that's lacking anything substantial. In fact, the elements of which any brand comprises are arbitrary. A brand is a not a logo, because logos change, it's not the building because companies move, it's not the management team, because employees move on, and it's not even the product, because brands diversify or change direction completely.

Inherently we know that a brand is more than that even if we can't put a finger on it. Apple is a brand because we all agree that Apple is a brand, we recognise the Apple Icon, but almost nothing about the company today existed within the Apple founded by Jobs and Wozniak in 1976.

Actually, what Harari is really getting at, is that a brand is the story it tells.

Its common knowledge that the average person is bombarded by about 7000 branded messages per day. Equally well known, is that we are not even aware of 99.9% of them, and of the 0.1% that we are aware of, we consciously absorb the message of, at best one or two.

In light of the above we must ask: does the constant branding exercise make a difference? We know it does on a subconscious level, but does that translate into a meaningful action at some point? Conversely, can a brand be damaged by the flotsam and jetsam of modern branding?

A few years ago, I heard something that fascinated me. It turns out it wasn't true, but the idea is intriguing.

By way of introduction - most of us remember our first mobile phone, especially if it was a Nokia. I was lucky enough to have the 6110. But in this context, it's not the model that's important, it's the default ring tone. No doubt you remember it: tulalala tulalala tulala la la – this obviously doesn't do it justice, but its playing in my head perfectly.

Hear it (and its evolution)!

It was based on a classical composition called Grand Vals by the Spanish Composer Francisco Tarrega, who is probably turning in his grave at the thought of what a really beautiful piece of music has ultimately become.

In 1994, Nokia selected this as their ring tone in an effort to create what was the world's first audible logo. By then many brands had an easily recognisable jingle or catch phrase, but what makes Nokia different is that they set out to create a unique sound that clearly identified the brand as unambiguously and as clearly as their visual Logo. This is already inaccurate as its demonstrably true that by this time many brands already had Audio Logos.

But as the story goes, the experiment worked and failed simultaneously. It worked in that everybody recognises the ring tone and knows it as Nokia, it failed (miserably some would say) in that it damaged the brand by creating an unsatisfactory association. It would seem that the ringing of a mobile phone is linked to stress, and therefore in the mind of the consumer Nokia was strongly associated with a stressful and often physiological response. Sweaty palms, a racing heart and a sinking sick feeling in the stomach is not the ideal response a brand wants to illicit.

The reason the story is plausible is that memories differ depending on the sense that created them. Seeing a logo every day may build up a brand association but hearing it will create an altogether different result. Together, a Visual brand and an Audio brand create a far stronger presence.

Ta da da ta da – I'm Loving it. You didn't read that, you heard it, and at the same time you probably visualised the Golden Arches.

Some brands, like McDonalds and Apple have had a "Sonic Logo" as far back as 2003 and 1984 respectively. Microsoft's sound Trademark goes back to 1995. Although it's entirely possible that it wasn't necessarily intended as a "logo"

Both Apple and Microsoft incorporated their audible logo into the consumer's user experience, further entrenching it in the mind.

So why, aren't more brands experimenting with Audible Logo's.

It turns out that lots of brands are (think about Intel, Netflix, the MGM Lion and 20th Century Fox…..) and like everything else in Media and Marketing, it's a science.

Veritonic has built tools and Market intelligence platforms specifically designed to help marketers with their Audio marketing – this includes everything from Sonic Logos to Podcast Marketing and their website includes an Audio Ad Search and Ranking system so Brands can see how their Audio matches up to competitors. It's pretty interesting stuff.

Lucas Murray of Made Music Studio says (Marketing Dive Anatomy of a Sonic Logo): "In fact, every successful sonic logo was created with intelligence, artfulness and purpose. Some companies know this and elegantly bring their brand to life through sound and music. Some companies do not, and either create an uninspired audio cue mismatched to their brand or never think to create a sonic identity at all. What is clear is that the gulf between these two types of brands is growing wider and wider as audio-first mediums, apps and experiences continue to rise in popularity. The simple fact is that if you want to reach into people's brains, hearts and pocketbooks in 2021, you must have a strong, well-designed audio presence."

That makes perfect sense. It aligns with breaking through the clutter, it matches Harari's definition of Brand, it's in sync with the need to reach consumers multiple times on various platforms.

No doubt the etymology of a brand as it refers to a product or company, is the actual Hot Iron Brand intended to burn a mark into something. Today the objective is to burn that something into the mind and consciousness of the consumer.

That's not an easy job to do, and I agree with Murray, marketers need to exploit every available tool to ensure that of the 7,000 daily messages users are exposed to everyday, their brands get through. That means: Omni-channel, multi-sensory and ubiquitous.

Audio Logos are another instrument in the marketing symphony.

By Teresa van den Berg, Media Strategist at The MediaShop

For some years now I've been fortunate to work on the Louis Vuitton account. It's one of the most valuable and iconic brands in the world, with a brand value of about $47.2 billion USD in 2019. After a short interlude I'm back looking after the media interests of this client again. It naturally brought me to the question of the current luxury brand landscape and the impact of the pandemic on this sector.

The 19th edition of the Bain Luxury Study states that the luxury industry has been heavily impacted by the Covid-19 crisis in 2020. The overall luxury market shrank by 20% to 22% at current exchange rates, and is now estimated at approximately €1 trillion globally, back to its 2015 levels.

Despite the pandemic, the global Ultra-High-Net-Worth (UHNWI) population is set to grow by 22% over the next five years. Much of that growth is being driven by new generations of UHNWIs, born in the digital era. Bain & Company notes that Millennials and Generation Z accounted for 47% of luxury consumers in 2018 and for 33% of luxury purchases. Younger generations are set to drive 180% of the growth in the market from 2019 to 2025.

The turmoil of Covid-19 has been a catalyst for profound change in the way global luxury consumers live and shop. Various luxury players reported changes in buying behaviour as consumers' social routines adapted to lockdowns and physical distancing restrictions. High-end and low-end luxury items proved more resilient than those in the middle of the range.

It goes without saying that Online is set to become the leading channel for luxury purchases. But in order to remain relevant, brands need a new approach to attract luxury shoppers.

Augmented and virtual reality are digital tools utilised more and more. Other novel digital tools luxury brands are utilising is the ability for clients to try on goods digitally. Pinterest has released an AR tool for users in the US called Try On. The front-facing camera enables users to try on different shades of beauty products, while a swipe up feature takes them straight to the brand's website to purchase.

According to The Drum.com, one of the best ways to attract this market is through video, which sells a brand's lifestyle and heritage. Although YouTube has been the reigning platform for video, IGTV (an integrated platform within Instagram) is growing in popularity, as is the use of podcasts to reach UHNWIs. According to Saks' senior vice president and general manager of beauty, jewellery and home, podcasts enable them to “tell a longer and more intimate story” offering the department store the “ability to connect with guests on a very personal level.”

Influencer marketing is also still a crucial part of many ultra-luxury and mass market brand social strategies, but consumers are also experiencing influencer fatigue. In the luxury market, using influencers has always been fraught with concerns about authenticity and cheapening the brand. HNW and UHNW audiences only respond to brands that align with their values and social image. It seems that the traditional luxury influencer model isn't working anymore due to often inflated or fake influencer follower bases.

In its place, trend forecaster WGSN has coined the term Genuinfluencers in December 2020 referring to passionate individuals who are more interested in sharing advice than selling brands or products. They often identify as creators instead of influencers and would rather be noticed for their high-quality content than their follower count.

Predicted to be one of the biggest trends for 2021 and beyond, Genuinfluencers are typically topic experts in a certain niche, whose followers are genuinely interested in what they have to say, trusting their knowledge and seeing their advice as valuable and relevant to their interests. One would typically not see a Genuinfluencer promoting a wide variety of inconsistent products.

As an example, Gucci chose a retired fisherman, Gerald Stratford (pictured below), who loves gardening, especially 'big veg' to be the star of a collaborative video shoot with Highsnobiety for Gucci's Off The Grid 2021 collection. Gucci Off The Grid is the brand's more environmentally-focused collection, made mostly of ECONYL, a type of Nylon regenerated from abandoned fishing nets, old carpets and offcuts. The collaboration makes sense due to Stratford's passion for self-sufficient vegetable growing and love for nature.

On Facebook, the video got 1.2k likes, 53 comments and 89 shares, while the story about the so-called 'Veg King' working with Gucci was covered positively by a broad selection of publications including the Telegraph.

Working with Genuinfluencers allows brands to show their support of social issues through a trusted external voice, making their views seem authentic and reassuring their audience that their activism is not simply a marketing ploy to sell more services or products.

What is the luxury market outlook for the future? Bain forecasts growth that ranges from around 10% - 19% depending on a variety of factors such as macroeconomic conditions, the evolution of Covid-19 and the speed of return to travel globally.

They anticipate four growth engines to profoundly reshape the luxury market by 2025:

• Chinese consumers will become a dominating nationality for luxury, growing to represent over 45% of global purchases.
• Mainland China is to become the biggest luxury market.
• Online is set to become the leading channel for luxury purchases.
• Younger generations (Generations Y and Z) will be the biggest buyers of luxury, representing over two-thirds of global purchases.

Luxury players will need to not only consider economic motivations, but social motivations as well, transforming their operations and redefining their purpose to meet new customer demands and retain their relevance, especially for younger generations, who are set to drive 180% of the growth in the market from 2019 to 2025.

There will be no more talk of the luxury industry anymore, but of the market for “insurgent cultural and creative excellence.” Bain concludes that in this space, winning brands will be those that build on their existing excellence while reimagining the future with an insurgent mind-set.

Isla Prentis, Intelligence Lead at Tirisano Consulting, a division within The MediaShop

Let’s rewind to the beginning of last year. We were living in a world of increasing information and distractions. A world where we hadn’t even really heard of Covid-19. So much has changed since then, but when it comes to attention, the fight became a whole lot tougher as distraction took a giant leap forward.

We are constantly asked for the best way to win the fight in the attention economy: there is no golden formula and no single answer to the question. As with so many things in life, we need to stop worrying about the answers and go back to the questions.

Questions lead to understanding, not just knowledge. Ultimately, we’re trying to connect with a human being. A consumer is a person before they are a target market or audience bucket and although there’s a world of information about how to build a successful brand, some of it is contradictory.

My advice is to absorb as much as possible, understand all the options and the science, and then figure out the right questions to ask. Once you know what they are, the answers will start to write themselves from the understanding that you have built. You can have the same starting point and destination, and still take a different path to get there.

My favourite word at the moment is balance. In life, we’re always told to pick a lane, pick an answer. But I truly believe that it’s all about balance. How do you balance up the different options to find the best possible answer?

There’s so much talk about engagement these days, but we need to ask ourselves what it really is. Is it a metric for your media buying? It could be, but that’s not all it is. It’s the content that determines the engagement.

In a world saturated with content, we need to make sure that our message (big or small) draws the consumer in — after all, brands no longer have the control or power.

Depending on what you’re trying to achieve, you might be trying to get the consumer to stay for a short or long while, but either way, the most important part is getting their attention. This world in which the consumer is in control demands authenticity and bravery.

Together with authenticity and bravery, this is where we introduce creativity to the conversation. There are many definitions of creativity, and so there should be given the nature of the concept. For me, creativity is finding the unexpected solution.

Everything in life starts with a question or a challenge and creativity is simply solving it in an unexpected way. Make sure that you inject creativity into everything that you do. Constantly seek to find the unexpected answer, or even better — the unexpected answer to an unexpected