A Sonnet for a Brand Called Trump

trump - luxury marketingWhile you may bathe in Benjamins
And plate every surface in gold
Your luxury marketing efforts
Are, I’m afraid, too bold

Your radio spot for Trump Parc,
Stamford’s only luxury tower
Is obnoxious in the third degree
And makes my stomach sour

Your Chicago hotel tagline*
Ain’t outside of any boxes
But may appeal to wannabes
And the world’s share of Bud Foxes

And that’s okay
I’m sure it’s fine
It obviously doesn’t affect
Your growing bottom line

But if you did more research
On the real High Net Worth crowd
I think that your campaigns would change
(And maybe not be so loud)

Trump, you’re rich, there is no doubt
One of the richest in the land
But you could be both rich and smart
If you’d just police your brand

*You’re either staying at a Trump, or in the shadow of one.

Brand Standards in Action

As a followup to an earlier post I wrote about the Importance of the Brand Standards Guide I thought I would show a great example of one from a company we all know. Roger Oddone, one of Google’s Senior Designers, posted their “Visual Assets Guidelines” in two parts to his Behance portfolio page. Part 1 contains Product icons and logo lockups and Part 2 has User interface icons and Illustrations. I came across this thanks to a post on Fast Company’s Co.Design blog, which has a great synopsis of the brand standards guide, or you can just read through the pieces in their entirety (which I highly suggest to anyone who is a brand manager or designer working on a logo project).

The piece shows, in great detail, how to manage a huge family of logos, icons, and typefaces as one cohesive unit. I have admired how since 2011 Google has been cleaning up their image, and now we can get a sneak peek into the thinking that has gone into it and the document that will guide their internal creative team and partners in the future.

brand standards guide - google

Luxury Fashion Marketing / Retro Ad of the Week: Burberry, 1928

The rich at play, having refreshments on a slopeside patio, presumably taking a break from the day’s wintry leisure activities.  While a far cry from the sea of tartan that represents the Burberry brand today, this ad still serves as a good example of luxury fashion marketing from the 1920′s.

Burberry Luxury Fashion Marketing form 1928

 

FUN FACT:  Burberry ranked 8th among the most valuable luxury brands in the world, according to a recent report by Millward Brown Optimor.

 

Facebook’s Latest Social Media Marketing Offense

social media marketingThere are about 1.1 billion users on Facebook, a number that is always increasing.Users can choose to “like” any page they want, and while most of these pages are your run-of-the-mill pages for your favorite TV series or breakfast cereals, there are some that would make most people cringe and many that would cause downright outrage. Until recently, advertisers had no control over which pages their ads ended up on – perhaps Facebook’s largest social media marketing blunder.

Social media sites like Facebook rely heavily on advertising for revenue. And since social media is an important part of everyday life for most people, social media sites have found themselves with a responsibility to its advertisers – they must provide them with a safe space to sell their products. But it took Facebook a long time to realize this.

Facebook right now is scrambling to get back some of the advertisers who have recently questioned their relationship with the social media giant. A few multinational advertisers like Nissan and Nationwide, along with several smaller advertisers, have decided to suspend campaigns with Facebook in order to prevent their advertisements from being displayed on pages with offensive content. Pages that promote violence against women, gays, blacks, and others seem to be appallingly popular on Facebook, and any decent brand would not want their name associated with such content.

Of course, Facebook is not the only advertising venue that presents this issue. Retargeted ads in particular can end up wherever your target audience happens to go – from the latest cat video hub to a site honoring Hitler youth. It’s a risk that advertisers often have to take in order to reach the right people. But Facebook has a greater ability to regulate, and as such, should do so in the quickest manner possible.

Facebook’s Sarah Feinberg, director of policy communications, has declined to offer any details on policy changes, but has given evidence of significant changes to be made in the near future. Facebook already has a policy that ads will not appear on pages that are flagged as controversial. However, the only way a page can be flagged is if it is reported as such. Of course, not all of the offensive pages are reported, and so some ads slip through the cracks.

Several groups have been started with the goal of getting Facebook to provide better training for its employees so that pages with offensive content can be removed. Facebook has made it clear that it will take all measures necessary to fix this problem.

Social media giants like YouTube and Twitter have provided advertisers with the ability to better control where their ads appear. You can bet that Facebook will be soon to follow. While measures are being taken to provide a safer environment for advertisements, the problem of hate speech and offensive content in social media will never be completely gone. It’s impossible to remove every piece of content that may be considered offensive, but it is still the responsibility of social media sites to provide its users and advertisers with a safe space when they enter the social media world. It will be interesting to see how quickly Facebook remedies this situation.

A Video Game for the Wealthy

luxury consumer behaviorFinally, there is a video game for the gamer with the most discerning taste. Game developer, Codemasters and manufacturer of luxury performance race car, BAC Mono, have come together to break the Guinness World Record for the “Most Expensive Video Game Commercially Available – Special Edition“. The Mono edition of Grid 2 is available £125,000 (about 189,775 in US Dollars); it comes with a 170 m.p.h. BAC Mono Supercar.

Is this an indication of a trend in luxury consumer behavior or a simple one-off?

While there are certainly wealthy gamers out there (you can catch Mila Kunis and Snoop Dogg playing Call of Duty and Halo respectively), I wonder if there are many non-celebs in the HNW or UHNW set that take an interest in both performance race cars and video games. Or maybe that’s why there is just one available.

For the right target audience, it’s a pretty sweet deal. Perks that are included (in addition to the Supercar) are::

  • A day at the BAC factory, which includes a tour and time spent with technicians to customize the BAC Mono for size and specifications
  • A GRID 2: Mono Edition branded Bell Racing helmet
  • Race suit, boots & gloves all made to measure in BAC Mono and GRID 2 branding
  • A PlayStation 3

 

Find Luxury Consumers Where They Live: Luxury Real Estate

Luxury real estate marketing

The luxury real estate market is making a comeback, and that’s good news not just for brokers and agents, but for marketers of luxury brands as well. Yes, it means people have to fill those homes with their favorite products and personal style, but more importantly, it means the list of addresses your brand can target is getting bigger. Where do consumers of luxury goods and services tend to live? In luxury homes, or course! So when you are building out the profiles for your next targeted luxury marketing campaign, don’t forget to look at it from a geographical standpoint, particularly if your core consumer is a HNW or UHNW individual.

That brings us to the next logical question: Where are the most expensive homes in the United States located? Well, according to the 2013 Coldwell Banker Luxury Market Report, the U.S. cities with the most home sales valued at $10 million and up in 2012 are:

 

City / State (Zip) # Sales $10 Million+
Beverly Hills, California (90210) 21
Aspen, Colorado (81611) 16
Montecito, California (93108) 15
Bel Air, California (90077) 10
Miami Beach, Florida (33139) 8
Brentwood, California (90049) 8
Malibu, California (90265) 7
Atherton, California (94027) 7
Greenwich, Connecticut (06830) 6
Miami, Florida (33156) 6

 

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In an interesting sidebar, the most expensive home in the US recently went on the market for $190 million (USD) in Greenwich, CT – just down the road from our  luxury marketing agency in Connecticut.

The home in question – Copper Beech Farm – is actually more of a compound than your standard luxury real estate property. Highlights of the 50-acre waterfront property include:

  • Two private islands
  • Carriage house with a clock tower
  • Co-joined heptagonal pools
  • A greenhouse
  • Wine cellar
  • Grass tennis court

 

Luxury Travel Marketing / Retro Ad of the Week: Imperial Airways, 1936

Imagine a flight where you can actually get up and walk around, socialize, have a cocktail. Enter the flying-boat. Not really safe, but certainly a luxurious way to travel to the most exotic spots on the globe. If only luxury travel marketing could be so simple today.

luxury travel marketing - imperial airways

FUN FACT: Just a few years after this ad came out, Imperial Airways merged with the British Overseas Airways Corporation, which then merged again with the British European Airways Corporation to become what we now know as British Airways.  (Source: Wikipedia)

Is Wealth TV a Worthy Medium for HNW brands?

Launched in June of 2004, Wealth TV is positioned as the only lifestyle and entertainment cable network that is primarily focused on creating wealth and spending your discretionary income on the finer things in life – most notably food, luxury clothes, cars, boats, and vacations.

But as someone who regularly watches Wealth TV (in between channel surfing between other lifestyle programming on networks like HGTV, DIY, TLC, Food, Travel, and Discovery) I have to wonder if Wealth TV is actually reaching or appealing to those individuals of true wealth. UHNW and HNW branding is a science; targeting individuals that fall within those categories needs to be done smartly and efficiently, and Wealth TV doesn’t really fit into that picture.

The programming on the network consists of shows like, “Boy’s Toys” – which highlights everything guys like, including extreme vehicles and tech gadgets; “Culinary Travel”– taking you to exotic places and showcasing the food that makes the locations so unique; and “Wealth on the Water”– featuring yachts from around the globe. With a wide range of programming that is very similar in many ways to that of competing networks like Discovery, Food, and the Travel Channel, I have to wonder if “Wealth TV” really caters even to someone who makes an upper-six-figure salary, never mind beyond that. Take a look at what the lead visual is on their website today – a segment on Sandals Resorts, in all its neon glory. Doesn’t really get more pedestrian than that.

hnw branding?

What makes Wealth TV unique? What makes someone with discretionary income to spend on luxury goods and services want to watch this network? Or is it really just as pedestrian as its competitors? The basis of what and why Wealth TV was established and still exists today has always been a mystery to me.

If I am the CMO or agency for a luxury brand, why would Wealth TV appeal to me as a place to advertise my brand? And why aren’t there more tried and true luxury brands running ads on the network?

For Wealth TV to take the next step into relevancy in the affluent landscape, and as a front-of-mind brand in the eyes of the wealthiest individuals in America, the network first needs to take another look at its programming, which seem to offer more of a glimpse into the lives of the wealthy, as opposed to suggestions, insights, and entertainment that the truly wealthy would actually find engaging. The second step would be to create strong partnerships with luxury brands that represent quality, value, and service as opposed to prestige, which HNW and UHNW consumers care about less and less.

Would you trust your ultra-luxury brand to Wealth TV? Have you already?

Jason Collins: New Star, New Approach to Sports Marketing

collins - sports marketingIf I asked you a few weeks ago who Jason Collins was, you probably wouldn’t be able to give me an answer, unless you are the most ardent of NBA fans. I consider myself a huge basketball fan, and I really had no idea who he was until now.

So, who is he? Collins is a journeyman who has bounced around the NBA, playing for 6 different teams in the last 5 years. However, once an afterthought, he has now become a potential sports marketing dream.

After becoming the first openly gay male athlete to play on a major professional sports team, his name has been mentioned as much as typical NBA stars like LeBron James and Kobe Bryant in recent basketball discussions. Jason’s announcement has been highly praised by fans and athletes alike, who feel that this is a major step in the fight for gay rights.

What is his marketability? According to Bob Witeck, founder of Witeck Communications,

Collins stands to reap millions of dollars from speaking engagements and endorsements from companies seeking to capture more of a U.S. lesbian, gay, bisexual and transgender adult population.

This $800 billion market is much more powerful than you might think. Nike, who already sponsored Collins before his announcement, has given him nothing but praise. And it likely won’t be long until other companies recognize him, both to support his decision, and maybe to make a buck or two as well. Companies such as Macy’s, IKEA, American Airlines, and Amazon.com have already dabbled in gay-themed and gay-friendly advertising.

Collins is trying to promote his message to those who remain uncomfortable with making such an announcement themselves. His message-oriented approach is going to be different than the product-oriented approach we are used to seeing from athletes. But right now Collins is looking to accomplish more in his athletic career. He becomes a free agent at the end of the season. Being 7′ 2″ and 250 pounds doesn’t really hurt his marketablilty either.

Many say that Collins will earn more money through his endorsements if he returns to play next season. Money, however, isn’t a concern for Collins, who is just trying to go about is everyday life as a professional basketball player looking for a place to play.  For now his marketing career may be on hold, but stay tuned by following Jason’s Twitter account (@jasoncollins34).

Proofreading Mistake for Chipotle?

Update: Upon further investigation, it appears that the “Lorem Ipsum” bag has been in circulation for a while . Chris Arnold, spokesperson for Chipotle, said “It’s sort of an inside joke. That block of copy is standard issue for people in advertising and design. We thought it would be funny to leave it in and see what sort of reaction it drew.” Since Chipotle is newly penetrating the Northeast, this is the first time we’ve come across this and, I have to say, we’re still scratching our heads. Read more about intentional errors in advertising here.

This is either an inside joke with everyone who works in the advertising industry or a giant proofreading mistake. If you’re not familiar with “lorem ipsum”, also known as “Greek copy” or “dummy copy”, it’s what ad agencies put in layouts for printed materials to indicate the amount of copy that will live in that space, even if it hasn’t been written yet. Looks like someone at Chipotle’s agency may have forgotten to change it over. It certainly didn’t change the deliciousness of what was inside the bag, but left a few of us in the office scratching our heads…

chipotle bag proofreading mistake