Tradition vs Evolution: Go Team….Go?
Many top-tier Div. I football programs fund the bulk of their entire university athletic departments, or at least support athletic programs at their schools that cannot or would not be able to support themselves otherwise. They often bring a significant amount of business to the towns that host their games as well. The impact is especially great in smaller cities.
In 2013, the University of Nebraska paid $2.1 million to the University of Southern Mississippi to move their match-up from Hattiesburg to Lincoln. This move increased the Huskers game day revenue by 14%, and brought an estimated $8 million to the local economy (forbes.com, December 2012). While Southern Mississippi reaps the benefits of the venue change, the local economy in Hattiesburg will not see any of the influx of revenue that it would have enjoyed from visiting Husker fans.
West Virginia paid $20 million to leave the Big East (a conference made up mostly of east coast teams, as the name would suggest) and join the Big-12 (teams based primarily across the central states), which had just secured a lucrative media contract with ESPN and Fox, to the tune of $2.6 billion. While television deals are a boon to conferences, schools individual earnings remain the driving force behind their overall financial success.
Teams are willing to eschew decades of tradition to enhance their economic futures. The opportunity for increased revenue and brand growth outweighed the decades of economic ties between teams and communities that benefited mutually from long-standing, yearly rivalry match-ups.
These efforts to expand brand awareness, whether through marketing themselves to recruits in new territories by moving to a more prestigious athletic conference, or expanding their fan base by endeavoring into new territories, shows that teams are willing to embrace non-traditional methods of evolving their business models in an effort to ensure continued fiscal success in the years to come.
Millennial Generation. Who are they?
Clients right now are not really focused on the millennial generation – DEMO: adults born after 1980. The truth is, should companies start looking to a long term brand shift, that positions them better with millennials? As a millennial myself, I would tend to lean towards…who can really say at this point. Why are we defining a generation's future buying potential – the entire reason we advertise to a demo – based on research that creates a label of age and wants/needs, focused on right now mind you. Why doesn't anyone talk about generations X and Y? It seems strange to me that we just jump right over two generations from baby boomers, straight to millennials. One could, and should argue that generation X and Y are essentially one in the same. With that, why are 34-45 years olds neglected to be “sought” after?
It's like this, a bigger percentage of the population, in terms of sheer numbers and buying power, is not the millennial generation. My stance is this, don't neglect the consumer with the buying power today, and give the millennial generation time to become a more powerful consumer, before trying to tilt your business plan. My generation of “millennials” is indeed still very fickle. Many of us are still trying to figure out what we want to do for a living. While the majority of us are concerned with being a good parent, having a successful marriage and helping others in need – many of us simply don't have the income yet to be considered a target demo for the majority of small business owners.
The way to position your business with any generation, not just millennials, is to listen and become responsive to needs. I'm not saying to become reactive, but rather be smart about how you are positioning your advertising and marketing efforts to all generations. Have the ability to develop long-term campaigns that can pivot based on consumer behavior. We have some great research available to the public on millennials, contact us today for a free copy of our research. support@madmenmarketinginc.com
Guide To World Cup Advertising Success
The World Cup is a great place to raise brand awareness, but probably isn't the event you're going to debut a new product or unveil a revolutionary idea. This is simply because the World Cup has a global viewership and is fragmented based largely upon national allegiances. For instance, viewership in England among women increases from 38% to 46% when their native country is playing (The Guardian, June 2010). Another reason for this is that the event takes place over the course of a month and is similar to March Madness in that regard.
Because many companies see the World Cup as an opportunity to showcase their business on a global scale, the creative is top-notch. This may be one of the reasons that the ads resonate with women more than with men, although the viewership skews more male than female.
In an event that showcases superstars like Messi, Suarez, Neymar, and Ronaldo…this is your opportunity to make your business the hero. YOU'RE the superstar. Now is not the time to do a human interest piece that tugs at your heart strings. Promote the brand early.
Unexpected ads that work within the context of the World Cup seem to gain traction among viewers. The popular ” I believe that we will win” chant that the USA has adopted, might be a good example of how a business might pair nationalism, fanaticism, and product placement if it fits with the brand.
Celebrity endorsements are hit and miss. It would take a global superstar with incredible recognition for this to work they way people are accustomed.
Finally, clarity of vision is paramount.
So, there you have it! Take these tips and corner kick them to your best play-maker for a game-winning header and enjoy the fruits of your labor!
The Epic Battle for Net Neutrality
What is net neutrality? Well, net neutrality is the “principle that Internet service providers should enable access to all content and applications regardless of the source, and without favoring or blocking particular products or websites.” Basically, one website can’t be favored over another in terms of speed or accessibility just because they paid for it.
Typically, when this topic is discussed, proponents of net neutrality mention how consumers will not be given equal access to internet content such as streaming services unless the website or the consumer pays for it. They argue that smaller websites who cannot pay outrageous fees to keep their content accessible will fail. Freedom of internet speech will be given only to large corporations with enough money to pay for it. This is true, but not the only problem. All small businesses, not only those in entertainment, will be hurt if the internet is not kept open and accessible.
Smaller marketing firms, and by extension other small businesses, will be hurt tremendously if net neutrality ceases to exist. Small businesses often rely on the internet as a cost-effective form of advertising. The internet allows small businesses to reach people around the world at a much cheaper rate than traditional media. If net neutrality is abolished, small businesses will no longer be able to compete against large corporations for cheap ad-space on the internet. Large corporations will have the money to advertise on sites that are more accessible to consumers.
In short, this is a very big deal. Just ask Netflix…who had a brief fallout with Comcast…their streaming content was streaming noticeably slower until they reached a compromise with the internet service provider. Lo and behold, in February, they began to see an immediate improvement (or perhaps just restoration of where it once was) in streaming speed. Netflix was literally held hostage by Comcast until its demands were met. It's naive to think they playing field will ever be completely level, but steps should definitely be taken to ensure that we're doing all we can.
Netflix Re-brand and More
The logo has received mixed reviews by various internet blogs. Some people think that the new logo is more modern and shows that Netflix is moving away from being just a movie platform. It represents their move into original content such as House of Cards and Orange is the New Black. Others feel that the new logo is a downgrade from the original that takes away the cinema feel but brings nothing in return.
Netflix’s logo change follows a trend of numerous companies changing their logos or other aspects of their brand identities. Some have received positive reviews while others have lost customers due to the change. One example of an excellent rebrand is Old Spice. They targeted a new demographic with an innovative strategy and saw sales skyrocket. There are also examples of rebranding mishaps such as the ill-received Gap logo redesign which only lasted for one week before the original logo came back.
So this begs the question, when should a company rebrand? There are positive and negative factors to consider when you are making any changes to your company’s brand identity. Is it worth the cost? Is it worth the risk that employees and customers may not accept the change? Will this new change bring in the clientele your business is looking for? Does this change better represent how you want your business to be perceived?
You may want to change your branding if your current brand is boring or stale, if it has a bad reputation, if you are changing services or target audience, or if there is a change in ownership/management. But always remember that any change you make may alienate your current clientele and hurt your business.
A company should always do its research before settling on new branding. That may be what Netflix is doing by only revealing their new logo design on a promotional piece. They may be testing the waters to see how the general public feels about the change. We will just have to wait and see.