Archive for branding
Do wealthy people actually watch Wealth TV?
Posted by: | CommentsWe have Verizon Fios as our “cable” provider and there are a myriad of channels to choose from. About a tenth of them I care about.
One of the one’s I don’t really care about is Wealth TV. But nevertheless I found myself watching it one night and I got to thinking… “Do wealthy people actually watch Wealth TV?”
If you go to Wealth TVs web site and peruse their media kit they would try to have you believe that in fact wealthy people do watch Wealth TV. They would have you believe that they are highly educated people who make over “$100,000 dollars a year and have a high household value and are high spenders with elite buying power.” They claim that the typical Wealth TV viewer is “50% more likely to be affluent empty nesters than the national average.”
Pardon, me, but I’m not buying it. Saying it does not make it so.
First of all let’s think about how you define financial wealth. In my mind, someone who is truly financially wealthy basically has what I like to call “fuck-you” money. I’m not even close to wealthy. I like Chris Rock’s definition of wealthy…
“Shaq is rich. The white man that signs his check, is wealthy.”
I once sat on a on a plane next to the guy who founded and owned Body Glove You might recall the neon laden surf brand from the mid 1980s. He sold it for a boatload of money just before neon fad bit the dust. We had a good conversation and he told me something that has stuck with me to this day. He said, “I didn’t make my money off the 200,000 or so core surfers. I made my money off the five million or so wannabes.” Smart guy.
Why doesn’t Wealth TV call a spade a spade and say who their real audience is. It’s the wealthy wannabes. Now that would be some truth in advertising.
Can Hummer have a Hyundai Moment?
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I recently read a great blog post by Andrew McCafee on the “Illusion of Brand Control” from the Harvard Business Review blogs. Mr. McCafee studies how technology affects businesses.
In his article he cites examples of two brands. One which seeks to try and corral perceptions of its brand the other who seeks to let its brand run free.
The brand that seeks to corral the perceptions of its brand does so fairly unsuccessfully while the brand that lets it brand run free seems to find organic success. These may not be apple to apple case studies but nevertheless, the former it would seem could learn something about perception, identity and aligning business, product development and marketing strategy.
The example of the brand allowed to run wild is MIT, in which there are 11 student blogs featured on the admissions office web page. They are central to the schools communications efforts. The premise was simple. The school is confident enough that in having some of the greatest scholars of the world grace its campus, why wouldn’t they be capable of presenting a cogent dialogue on a variety of topics to the world thus demonstrating why you would want to attend MIT.
On the other side of the spectrum is Hummer.
Mr. McCafee starts his piece…
“You’ve probably heard by now that ‘your brand is no longer yours.’ The assertion’s based on simple math. In the era of blogs, discussion boards, Facebook, Twitter, and other Web 2.0 tools, virtually everyone can get online and talk about your company and its offerings. As a result, the amount of information your marketing and PR departments can generate is only a small percentage of the total volume of content on the Internet about your firm.
What’s more, if some of the external voices become as popular, or perish the thought, more popular than your official voice, then they’re going to show up high in organic (as opposed to paid) search results. For example, I just typed “Hummer” into Google. The second result is the Wikipedia entry about the vehicle, and the fourth one is a site full of user-submitted photos that are not likely to please the brand’s owner.”
Let’s talk about the fourth one. On that site there are 5092 submissions of people flipping the bird to passing Hummer H2s. That’s a lot of angst.
When one thinks about Hummer’s past advertising, it often portrays young, good-looking, hip and adventurous 30-something individuals utilizing their Hummers to create their own adventures seeking out the most remote spots on earth.
Granted a great degree of Hummer’s spots are automotive eye candy in shot in places like the far reaches of New Zealand. However when there are people in the ads, the folks and imagery used in Hummer’s spots are really not at all representative of the actual Hummer consumer. And these days, I don’t think there are many people in America who want to be seen in a Hummer. The people portrayed in the spots of old courtesy of Modernista! are no doubt beautifully art directed and shot. But the people in the commercials look a lot like, well the people in agencies like Modernista! And what I know about people like these is that most of them wouldn’t buy a Hummer. They’re probably more likely to buy a Mini. And the hardcore outdoor folks that you might find riding their bikes to their boutique agency are design/brand snobs and extraordinarily eco-friendly. I might personally resemble this last remark.
This is where the opportunity lies for Hummer for North America. If they align the business strategy, product development and marketing effectively they could actually carve out a nice little niche for themselves.
While current brand perception is negative, I would predict that if you dug down to the brands core you’d find perception about the brand is probably still pretty well respected for being a vehicle that can pretty much get anywhere.
I have no idea what the new owners are considering for Hummer, but how about thinking of this for a second. Develop smaller than H2-type vehicles with less bling, powered by clean diesel (the magic word is torque) and provide functional utilitarian packages aimed at various affinity groups (outdoor enthusiasts).
This is where I wonder if Hummer can have its own Hyundai moment. Any marketer with a subscription to AdAge knows that Hyundai is the marketing darling of the industry these days and rightfully so. However it wasn’t marketing that created Hyundai’s turnaround. It was the company.
As Mark Allen Roberts said in response to the AdAge’s “Marketer of the Year”article on Hyundai, “What they did brilliantly was on the front end.”
I don’t suspect Hummer will be as universally captivating as Hyundai because it will always be a niche brand but I do feel that there’s a tremendous opportunity for Hummer.
