Oscar And the Seismic Marketing Shift: What It Means For Your Business

Marketing Lesson of The Week

► McDonald’s Walks The Brand Talk

Your brand encompasses more than your logo, sonic elements and other symbols. It stands for more than the sum total of your business including your products and services.

For example, say “McDonald’s” or Golden Arches and people think Big Mac and fries.

But more important and valuable:
The McDonald’s brand has acquired a higher global financial meaning over time.

In 1986, The Economist invented “The Big Mac Index” to determine whether currencies are misaligned.

“The Big Mac Index ” shows whether in the long run, currency exchange rates move towards the rate that equals the price of a burger in any 2 countries. Over time “The Big Mac Index” has become a global standard.

Symbolizing Russia’s move towards America’s style of capitalism, McDonald’s opened its first Russian store in Pushkin Square in Moscow on January 31, 1990. It attracted international attention.

• 27,000 people applied for 600 jobs and
• 30,000 people were served burgers. Contrary to the Russian tradition where restaurants closed early when they ran out of food, this store remained open until the last customer was served, setting McDonald’s record for number of people served in one day at a single store.

By 2010, this McDonald’s had served over 130 million customers in Russia.

Underscoring the importance for strong global brands to respond quickly to changing world events, McDonald’s closed 847 restaurants at a cost of $50 million per month.

McDonald’s actions symbolize how the Ukrainian Invasion has set Russia back over 3 decades in terms of economic globalization and prosperity.

YouTube Video via MSNBC: https://www.youtube.com/watch?v=crzh1rKoDEI

What does this mean for you as a marketer?
Your brand MUST stand for something greater than your business or organization. 65% of respondents fear “losing my freedom as a citizen.” [Source: 2022 Edelman Trust Barometer]

Your business leaders must step in and act to protect its customers, employees and community to take up the void left by governments and others.

► The Challenge of Brand Squatting

Since the US and other nations have imposed sanctions on Russia, “Uncle Vanya”, a Russian burger chain, is taking advantage of McDonald’s departure to build its business. Using the Russian letters for Uncle Vanya, the chain’s logo looks like a sideways “Golden Arches.”

In response to the crippling sanctions and departure of Western businesses, Russian officials signaled they would remove patent protections for these companies.

Actionable Marketing Tip

• Ask “What does your brand stand for beyond your product and services?” and,
• “What role does your brand play in the world and history more broadly?”

Voice Talks

► Why Voice Means Business

Voice works across your business or organization. Based on Opus Research 2022 State of Voice Technology, respondents implemented at least one form of speech technology in these departments.

• Internal operations,
• Support,
• Marketing,
• Sales,
• Human resources and recruiting,
• Compliance and risk management, and
• Security.

Businesses add voice-enabled technology to accomplish these goals:

• Improve productivity;
• Identify new business opportunities;
• Increase revenues; and
• Promote efficiency.

Note: Opus Research only surveyed 400 decision-makers, a small sample, only use it for directional purposes.

Actionable Voice Marketing Tip

• Evaluate where voice-enabled technology and devices can be integrated into your organization.

Social Scene

Winning an Oscar at the Academy Awards is the ultimate sign of achievement in the movie industry. Streaming services have sought to break this glass ceiling for years by creating films that Hollywood can’t or won’t make. (For more information on the Oscars, read What Oscar Can Teach You.)

Spending $20+ million to promote the film, Apple TV+’s CODA’s 2022 Oscar win for Best Picture created a seismic change marking the official beginning of Hollywood’s new era of streaming services. Since Apple launched its Apple TV+ streaming service in 2019 made the CODA a notable success for the company.

It took 6 years for a streaming service to get certified membership in the Hollywood studio club since Amazon first tapped on Oscar’s glass ceiling with its nomination for Manchester by the Sea.

In 2019, Variety stated the challenge streaming services posed for the Entertainment industry:

“Netflix has also rewritten the rules of TV and movie dealmaking, talent paydays, TV scheduling, film release windows and marketing campaigns. It’s an extraordinary level of influence exerted on a mature industry dominated by long-established stalwarts.“

Why does this matter to marketers?
Examine the Entertainment market and assess the movie and video power of FAANG (Facebook/Meta, Amazon, Apple, Netflix and Google/Alphabet) and other newer platforms and services.

On average, monthly streamers in the US spend $55. [Source: Barron’s]

How have new players achieved this tidal wave of change?

• Fragmented audiences including specialized niches;
• Shorter attention spans;
• Easier for creatives to produce, release and distribute various forms of media; and
• Consume media on-demand at different times and modes.

Actionable Social Media Marketing Tips

• Add at least one form of video to your content offering. Ideally use existing video or streaming resources or re-imagine existing content in one or more video formats.
• Expand content distribution across social media, video channels and platforms.

Content Communicates

► How Content Marketing and Mission Can Build Your Audience

In honor of Women’s Month, let’s examine how Ellevest uses content marketing to build its brand and audience.

What makes Ellevest special?
“Ellevest is a financial company built by women, for women.”

Reflecting their mission, Ellevest’s services aim to get more money in the hands of women and others underrepresented due gender identity. This involves every aspect of financial self-care.

Ellevest offers women the tools they need to build their financial futures.

• Ellevest Membership consists of an app to take charge of their money and level up their career regardless of where you are in your financial journey for as little as $1; and
• Ellevest Private Wealth Management is a full-service wealth advisory practice tailored to investors with $1+ million to invest and want to align their money with their values to put their money matters.

Actionable Marketing Lesson:

• Align every element of your business with your mission

► How To Use Different Types Of Email To Grow Your Business

While email generates $36 for every dollar spent, take care not to burn through your list [Source: Litmus.] Or, your audience unsubscribes in droves reducing the size of your list.

Fear not dear marketer!

Ellevest can educate you on the 3 types of emails to send.

1. Use an article or opinion column announcement email to alert your readers to new content. Make it part of your content amplification phase. Ellevest uses a designated “From”, “What the Elle by Ellevest” (and a consistent header graphic) to distinguish it in recipients’ inboxes.
   
2. Add sales or promotional emails to drives sales. Ellevest limits sales emails to once per week. They designate the “From” as “Ellevest Team” to soft pedal sales with a larger, purchase-oriented visual.
   
3. Offer a weekly newsletter email to build relationships with members and non-members. It starts with a calendar of activities and spotlights 2 articles or events to drive website traffic. The “From” consistently reads “Ellevest”.

Actionable Content Marketing Tip

• Use a variety of different types of emails to maximize your sales and relationship building.

New York City Marketing Minute:

► How To Make Location The Hero of Your Story

Despite what others may think, New Yorkers know they live in a very friendly town.

Last Friday, walking down Fifth Avenue, I noticed a car with a sign in its windshield. Looking closer I realized it was a production car for “Law & Order: Special Victims Unit”.

I knocked on the window and the driver rolled down his window. When I told him that the show was one of my mother’s favorites, he took this photo for me.

Note: the “Made In NY” symbol to promote the state.

He explained that the production person was buying costumes and props to exemplify New York City in the show.

In this long-running network television franchise which continues to grow and evolve, New York City plays an important role in every scene in every show!

Why is this important?
Because place is one of the 4 Marketing Ps.

Actionable Small Business Marketing Tip

• Ask how you use your location as part of your business, branding and related marketing depending on your business and its unique history.

Marketing Reads

► Seismic Content Marketing Shift: How To Use These 3 Changes To Make You Succeed

As this year’s Oscars show, there’s a Seismic Marketing Shift taking place.

Understand what it entails and how to adapt your marketing across your organization to ensure long-term success.

► Marketing Career Advice: Women Tell You How To Triumph

In honor of International Women’s Day, learn what 30+ marketing women have to say about the challenges they’ve faced in their careers.

► Woot! Heidi Cohen was spotlighted as one of the 90 Women in SEO by Sitechecker.

Marketing Training

► How To Be A Content Entrepreneur?

Learn from leading content entrepreneur, Joe Pulizzi, and his team at The Tilt.

New Course: Exploring Web 3.0 

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► Section 4’s The Product Positioning Sprint with April
Dunford

Next session: April 4 – 19, 2022

Plan Ahead: Mark Your Calendar

► VoiceLunch US – Friday, April 1, 1pm ET

VoiceLunch is a global, free-wheeling, online community exploring the use of voice. Sign up for the newsletter to get the full schedule of VoiceLunches.  

► Project Voice – April 25–28th, Chattanooga, TN

The #1, in-person event for voice tech and conversational AI in America returns. Register Now!

► The 2022 Creator Economy Expo (aka: CEX) – May 2–4th, Phoenix, AZ

By Creators for Creators: Join 500+ fellow creators to explore the latest strategies, tactics, and tools — plus make valuable connections — for achieving big success as a new breed of content entrepreneur.

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