All posts filed under: Leadership

Why women are driving the rethinking of the sales model (amongst other things)

By Mark Di Somma

It’s extraordinary how so much has been made of the emergence of China and India and of the impact of new technology on the world’s economic wellbeing – and yet a factor bigger than either of these dynamics has been largely ignored. The rise in the participation of women in the economy through full-time work – an economic force I refer to as “femonomics” – has contributed more to economic growth than either Asia or online globally, and yet the attention this has received pales in comparison to the space devoted to Silicon Valley and the rise of the subcontinent and the Red Dragon. In the US, the input of women in the paid workforce has risen from just 20 percent in the early 20th century to close to 50 percent today, and it is still rising. According to Gerry Myers, American women now earn, control, and spend trillions of dollars annually. In fact, they are responsible for a whopping 80 – 85 percent of all purchasing decisions. So it’s amazing that so many marketers …

The efficiency debacle

By Mark Di Somma

I’m continually fascinated by how much companies ignore context. And the irony of that of course is that this is happening at the very time when we have more access to information than ever before. Ask many companies what they are doing and they will happily tell you. Ask them what they are doing to be more competitive and the answer you get back rarely makes mention of those competitors and why a brand’s actions will stand them apart. It’s easier to act than to distinctualise. And that’s because actions feel like something is happening. Managers monitor their operational improvements, and believe they are future-proofing the business, maybe even outperforming their competitors. But just as quickly as they are improving their actions and becoming more efficient, their competitors are doing the same. In equally splendid isolation. So there’s this strange dichotomy of awareness. Everyone knows how to keep up. But not how to overtake. Continuous improvement is now a hygiene factor in so many industries. Everyone is acting to stay steady with those around them. …

New article: 5 things to do when social media reacts to you

By Mark Di Somma

Imagine being flashmobbed. Suddenly hundreds of people run into your reception area with chocolates and flowers and sing a song in your honour. What would you do? Or a crowd appears at your company’s gate and each person there shakes their fist and jeers everyone entering the building. Then, just as quickly, they’re gone. It happens a lot. To firms all over the world. Not literally of course. On Facebook, on Twitter, on YouTube. Brands are hit by a wave of emotion, good or bad, that rolls in, and then recedes, leaving everyone affected breathless and confused. What the hell just happened? The force at work is “critical mass”: the impact that many, many people can have when moving together, with purpose, towards a singular point. It can last minutes, hours, days. It can generate smiles and business, or scandal and significant losses. It can transform people and brands into heroes or villains, celebrities or scandals. Whilst I think a lot of us continue to search for a credible return on investment model for brands …

Does sponsorship actually work? Driving up likeability through association

By Mark Di Somma

Does the passion and commitment that fans feel for their favourite sports and events carry across to the sponsors who often help make such events financially feasible? Previously I’ve examined how advertisers have woven their participation into the very fabric of Superbowl Sunday and contrasted the sentiments that such engagement enjoys with other sponsorship arrangements where brands are much more sidelined. I’ve also looked at Dow’s involvement with the upcoming London Olympics. Now Kirk Wakefield, Professor of Retail Marketing at Baylor University in Texas and Anne Rivers, Senior Vice President at Brand Asset Consulting in New York, have studied the relationship between brands and fans more closely by looking at the effect of official sponsorship on key aspects of the brand relationship Using key sponsors from the NFL, they’ve looked at what role sponsorship plays in brands achieving knowledge (how well the brand is understood), esteem (how well regarded the brand is) relevance (how appropriate the brand is seen to be), and differentiation (how distinctive the brand is in its point of view from competitors) …

Strategy, or resource budget?

By Mark Di Somma

Why have management teams reduced strategy to a compliance matter – something they go away to do once a year. Some have even invented a host of reasons why they can afford to take strategy off their list of tasks. “Strategy is a talk-fest.” “Strategy isn’t real.” “Strategy isn’t practical.” “Strategy is just a fancy name for planning.” In so doing, they have overlooked the creative, pre-emptive and competitive opportunities that great strategy should go looking for. In an interview with McKinsey Quarterly in November 2007, Professor Richard Rumelt of UCLA’s Anderson School of Management, says most corporate strategic plans don’t deserve the name. Far from being strategies, they are actually three-year or five-year rolling resource budgets tied to a market share projection (designed, I imagine, to appease shareholders’ demands for dividends). Calling this strategic planning, Rumelt says, creates  false expectations that the exercise will somehow produce a coherent strategy. Amen to that. Great strategy is not about all talk and no action or the talk before the action. I  don’t think it’s about just …

Know thy enemy

By Mark Di Somma

I’m a great believer in brands having enemies. Here’s why. Enemies draw people of a common mind together. Enemies activate people to want to do something. Enemies provide a clear and present focus. Your enemies are not competing brands. Well, not directly anyway. Your enemies are the ideas that compete with, or conflict with, your purpose – specifically, they are ideas that run contrary to what your brand believes in and aspires to. An enemy could be another belief or an assumption. It could be an action or a way of working. It could be a state of the world. It could be a system. It could be an injustice or an intolerance. Whatever it is, it is something that your brand fundamentally opposes and want to change because your values dictate that it is necessary for you to do so. Tom’s has an enemy: bare feet. A fundamental tenet of the Tom’s brand is that it is unacceptable for children not to have shoes. Apple has an enemy: mass produced boredom. As a brand …

Great brands unearth

By Mark Di Somma

In his recent post on imputing, Tom Asacker used a single word that for me clinched the mystery and the power of great marketing, and explained why so much money is spent on communication that just inspires a change of channel. That word: unearth. Unearthing is about discovering. It’s about seeing for the first time something that has been hidden for a very long time. It’s about revelation. It’s about something that inspires. Great brands release emotions that people are not asked to feel most of the time. They uncover the irrational drivers that impel busy, pressed, distracted human beings to stop doing nothing or something else and instead make the time to take an action. Because that action is worth it to them. And it’s worth that time because it feels worth that amount of time. Most brands don’t work that hard to win our time. They are unsurprising, uninspiring, unprovoking. They unearth nothing. On the contrary, they monotonously state the obvious. They go over and over and over the same old ground. And …

Rethinking the response

By Mark Di Somma

There’s a simple, human reason why behaviours happen time and time again in my view.  We are creatures of habit and familiarity. It is much more comforting to keep hammering away at what we know than it is to stop, reappraise the problem and completely redesign the playbook. Relentless speed and ubiquitous impatience have spawned an approach to strategy based on “not enough time”. The underpinning philosophy is that there’s either not enough minutes in the day to do the thinking, or even if these can be found, the strategy will be outmoded by the time the company gets to implement it. Wrong. It will almost certainly take far less time to strategise the road ahead than it took to get into trouble. And it will cost a whole lot less than reacting to another bad snap decision. However, those who hate change can always fall back on a simple tactic. If in doubt, raise more doubt … “What if it doesn’t work?” “But it’s not working now.” “OK, what if it works even worse?” …

The power of being purposeful

The power of being purposeful

By Mark Di Somma

In an age where products are increasingly similar and of equal quality, the opportunities to compete just on the basis of what you sell are disappearing. In fact, I’d go further than that and say, they’re as good as gone. Even if you know that your product has some sort of technical advantage over that of a rival, the chances of you continuing to hold that advantage or of that advantage being of such significance that consumers actually care are as good as nil.

Sense and Serotonin

By Mark Di Somma

Recently in response to a post by David Meerman Scott about the need to apply left and right brain thinking to content creation, I suggested in the comments that brands should apply that same approach to most aspects of marketing. As I pointed out at the time, blending right and left brain signals is critical to how brands engage with prospects and buyers because it ensures that people remain fascinated and justified as they make their way through the sales funnel. Logic and magic. I think most of us accept that consumers generally buy emotively and explain logically, so the ability to provide them with experiences that they enjoy and talk about, and at the same time to arm them with reasons that help them explain, to themselves and to others, what they are doing is critical. It’s easy and tempting though to treat each hemisphere as separate: to apportion logical arguments for those who think that way or for times when they are needing to rationalise; and to ramp up the emotions and associatives …