Feb 08: Patterns Emerging
The team reviewed 200 conversations with US marketing decision-makers over the last 3 months. From these we’ve grouped the subjects together to see if patterns emerge: -
· 4 were seeking agency guidance to communicate a greener outlook
· 21 were interested in hearing specifically from events agencies
· 20 welcomed ideas on communicating with local markets
· 16 wanted to meet agencies with cutting edge technology
· 15 were looking for support to target specific ethnic groups
· 9 had ad-hoc projects available to others in addition to their AORs
· 8 were keen to hear agencies’ thoughts on targeting the gray market
Let’s consider some of the more interesting cases for each of these themes…
Twenty decision-makers we spoke to specifically said they would welcome agencies’ ideas to communicate their brand to local markets. Among these was the VP of Research at CBS Corporation, to whom we spoke when she was initially appointed (see Pearlfinders US 11.19.07). As her remit was to study current trends and develop new strategies, she was looking for an agency to help her develop geo-demographic applications/tools to help segment and target local markets. She wanted to find a way to incorporate data from syndicated research, census info, Nielsen statistics data etc. into her existing research framework. Back then, she told us that looking further into the future, she’d be looking to implement ongoing econometric modeling to advertisers this year. Another decision-maker to express a need for similar agency support was the Co-Founder of the Little Cupcake Bakeshop in Brooklyn, NY (see Pearlfinders US 11.02.07). The business was on the tipping point for expansive growth when we spoke to him, and he was exploring the idea of partnering with a larger company to communicate the brand’s local and environmental credits to communities into which the business was considering expansion. He saw the fashion world especially as a receptive market for the Little Cupcake Bakeshop’s offering.
The Little Cupcake Bakeshop was also one of four brands at which decision-makers were seeking agency guidance to communicate a green outlook. Another was Publisher of EvWorld, a site devoted to eco-friendly practices in the auto industry (see Pearlfinders US 11.21.07). He was looking to target a market that was increasingly interested in the convergence between power for vehicles and power in the home. His priorities for the future included getting a print publication off the ground and he told us he might outsource the logistical side of this: print, design and the data for mailing lists. He wanted to hear from agencies able to display an intimate grasp of the broader sense of the eco-friendly technology industry and its accompanying issues.
Sixteen other decision-makers we spoke to wanted to meet agencies able to provide cutting edge technology solutions to their marketing challenges. We spoke to Head of Marketing - Online Business Unit at British Sky Broadcasting Group when she was in the process of building a digital roster for Sky (see Pearlfinders US 12.19.07). She told us she demanded constant innovation from prospecting agencies - what you brought to her as innovative yesterday, she wants you to be able to do "with one hand tied behind your back" tomorrow. She was looking for agencies that could build up Sky as a credible online brand that informs, inspires, and enriches users by harnessing the content Sky owns - video was to be central to her strategy. The VP Business Development / Strategy at Mio.TV, a Latino multi-channel launched in beta mode in December, told us he was developing plans for a mobile marketing campaign and was keen to hear about any innovative work agencies are doing in this area (see Pearlfinders US 12.14.07).
Mio.TV was also one of fifteen brands at which decision-makers were looking for support to target specific ethnic groups. Mio.TV is aimed at 18-34 year olds, bicultural, bilingual consumers who predominantly speak English but identify more closely with Latin culture. Looking ahead, the VP Business Development / Strategy told us he was planning launches in Latin America and Europe depending on how things pan out in the US. The Associate VP of African-American Marketing of Coca-Cola told us in November that she was looking for a consultancy to help her target African-American consumers, through large-scale ATL campaigns to driving execution and work on the "moment of truth" experienced at purchase (see Pearlfinders US 11.09.07). In December, we reported that Iomega, the company best known for its manufacturing storage devices such as hard drives and media readers, was planning to boost its presence in China through an acquisition (see Pearlfinders 12.14.07). When we spoke to the company’s Marketing Director, he explained he’d be interested in hearing from agencies at a later stage that could advise him on localization and marketing to Chinese consumers.
If your major prospects have already assigned lead accounts, don’t be disheartened - the sheer amount of project work available is testament to the fact ad-hoc opportunities are often available. Nine decision-makers we spoke told us they were looking for other agencies to take on special projects. We spoke to the new SVP Business Development at Belo Corp, who anticipated that he'd need to bring on board agency support on a project basis (see Pearlfinders US 12.06.07). Consultancies would support his efforts to develop an enterprise-wide product innovation process and build partnerships with other businesses whose technologies and business operations would help lead to the creation of new audiences and business opportunities across the Belo group. The VP Marketing at Bell's Brewery explained she would allocate her marketing budgets to hiring support for one-off projects to deliver print work (see Pearlfinders US 12.11.07).
Over the last three months, events figured high up on decision-makers’ agendas. Executives at twenty-one brands told us they were interested in hearing about what capabilities events agencies had to offer. At publisher Crain Communications, the company’s Marketing Director told us she was always receptive to hearing from top quality events agencies that could demonstrate four key principles: Responsiveness, Willingness, Discipline and Versatility (see Pearlfinders US 12.12.07). The Affiliate Marketing Director at the Gospel Music Channel told us she was seeking a promotional marketer with expertise in both B2B and B2C to cover media, events and radio promotions. Her end goals were to grow distribution and increase platforms for ad sales revenue.
The gray market is clearly becoming an increasing focus, as brands across all industries wake up to the potential spending power of babyboomers – eight decision-makers we spoke to were keen to hear agencies’ thoughts on targeting this market. When we spoke to the VP Marketing & Product Management at PokerTek, a vendor of high-technology poker tables to casinos and card rooms, she told us that her target demographic was older than many might think – and a priority was convincing traditional poker gamers to move onto digital poker (see Pearlfinders US 11.08.07). She said she wanted PokerTek to reflect the fact that older users still want to be engaged in a fun, youthful manner and was keen to hear from agencies able to support a potential tournament for deaf / hearing-impaired poker players. At Thoroughbred Motorsports, the overall marketing decision-maker explained that 40 per cent of the company’s target market was older riders whose needs have moved on from motorcycles – she wanted agencies to consider this issue in any prospecting to the company (see Pearlfinders US 11.06.07).
Conclusions:
· It’s hardly surprising that decision-makers are increasingly requesting more innovative solutions from their agencies. Researching your competitors to ensure your offer really is unique is imperative.
· From the data we have to expect 2008 to be a strong year for events specialists to win new business – especially with brands in the media industry.
· It sounds obvious, but if you’re looking to win new work over the next year, ensure the communication of your offer is tailored to the markets of your prospective clients.
· With the nation’s ethnic make-up continuing to change, make sure your strategies may be tailored to specific groups – and the same goes for different age groups.
· We’d advise ensuring your most profitable customers receive constant attention – especially as our sample suggests more project-based work is becoming available.
· Lastly, we should bear in mind the desire to demonstrate ethical corporate practice is a growing imperative, and there are certainly a lot of specialist marcoms agencies servicing this sector. However, the fact is only four out of the two hundred decision-makers we sampled mentioned this as a specific issue. Are corporations quietly getting on handling ethical communications in-house, or is there more noise than dollar action in this area?