The Internet Advertising Bureau (IAB) released its annual report conducted by Pricewaterhouse Coopers LLP on interactive advertising. The results are considered to be the most accurate measurement of internet/online/mobile advertising. Here are some of their key findings along with my insights for aviation marketers.
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In the not-too-distant past, magazine advertising dominated aviation marketing. The proposition from publishers was simple – we will provide the content and the readership base, and aviation manufacturers will rent space in our magazines to advertise products and services. This was a successful business model which lasted over 6 decades.
Continue readingHave you ever smiled after reading a magazine ad or felt an emotional tug after watching a video and wondered where the ideas came from? The ideas came from the hard work of the creative team working in tandem with the aviation marketer.
Continue readingAviation manufacturers that advertise are making an investment in long-term brand performance. Advertising has a multiplier effect – when integrated with other marketing efforts, it helps position and create a preference for the brand while building awareness with purchasers and influencers.
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Pick up any aviation trade journal and you’ll see an advertisement that reads something like this:
X-Y-Z brand provides world-class engineering solutions for mission critical aviation systems. We have the experience and capabilities to satisfy your requirements.
Visit any aviation manufacturer’s website and you’ll read this:
With A-B-C brand you’ll experience brilliant engineering and advanced technology in a DO-160 compliant gismo, combined with superior customer service.
Both of these examples are victims of “place your logo here” marketing.
Continue readingWhat type of relationship do you have with your agency – contractual or covenantal?
We all want to be needed. This is never more apparent than when you work with a group of creative people. Agency folks by their very nature are a high touch, service-oriented bunch that will work themselves into a frenzy trying to please their clients.
Unfortunately, due to circumstances or culture beyond the CMO’s control, the relationship starts to sour because it is viewed as a contractual relationship. Contractual relationships lack emotion, are based on obligations written in legalese, and work to the detriment of group dynamics. This type of relationship is based on reciprocity driven by the finance types to find the lowest cost producer.
Typically, contractual relationships are viewed as client and vendor.
As an example, an RFP is sent to 8 agencies (kiss of death) for the development of a new corporate website and an inbound marketing program. Due to the economic climate, the agencies don’t want to say “NO” to anything. These agencies work diligently on their proposals, developing strategies and sighting technologies that will meet the RFP requirement. A couple of agencies even develop mockups of their ideas to help the client visualize the concepts they are proposing. Then the contractual mentality kicks in and the project is awarded to the agency with the lowest cost.
The flip side of the contractual relationship is the covenantal relationship.
Covenantal relationships reward creativity and change. This type of relationship fulfills the emotional needs of both CMO and agency, resulting in work that is:
In his book “Leadership is An Art,” Max DePree, Chairman emeritus of Herman Miller Inc., identifies seven ground rules for a covenantal relationship:
Achieving a covenantal relationship requires strong CMO leadership – someone who is confident in their abilities yet trusts others on whom they depend for their success.
The covenantal CMO/agency relationship is a group dynamic with one side or the other demonstrating leadership at different times. Throughout this cycle, CMO and agency take on two roles – one as creator, and the other as implementer.
In the covenantal relationship, all parties are emotionally involved with the outcome. In many instances, the CMO’s implementation is just as creative as the creative act he/she is responding to.
Historically, aviation industry component and system manufacturers have practiced traditional business-to business outbound marketing (push marketing model). The outbound model relies on bought media to push key messages to a mass audience, segmented by demographic, SIC code, business title or purchasing authority.
Tactical execution takes the form of:
Often public relations tactics such as press releases and product stories in trade publications support out-bound efforts.
The push marketing strategy is predicated on disrupting the viewer to convey predetermined key messages that support product features, benefits and value propositions.
For many aviation industry manufacturers, this has been a successful approach to building brand awareness. However, outbound marketing requires a large investment in bought media and advertising return on investment is hard to track.
Customers are disillusioned with the “about me” aspect of the creative product further challenging the advertising’s ability to disrupt the viewer in the work environment. In addition, outbound lacks the stickiness to build community and form a one-on-one relationship with the individual.
Enter People-to-People Marketing
People-to-people marketing is predicated on building relationships with individuals and communities through conversations that nurture and build trust. Technology is at the heart of inbound marketing (pull marketing model).
One of the most intriguing aspects of people-to-people marketing is its not confined to the workplace. Personal computing power in the form of smart phones and tablets makes it possible to connect with customers in venues not traditionally associated with aviation marketing.
Social media outlets provide the means to listen and carry on conversations with individuals. People-to-people marketing requires aviation marketers to reevaluate and rebalance their marketing mix to achieve their marketing goals.
Successful people-to-people marketing shifts the focus from “me oriented” to “story telling” to create the personal and emotional bonds.
In addition, personal computing power opens up new venues for storytelling through video, slide share and other syndicated platforms. Inbound marketing also comes with a wide array of analytics packages to help establish data chains for measurement and marketing investment.
Finding the right balance
Today, successful aviation marketing requires an integrated mix of inbound and outbound marketing to tell the brand story. Aviation marketers are challenged to accomplish more with less, forcing them to reassess traditional marketing efforts and move towards more cost effective inbound marketing venues.
Many of these new venues are reaching maturity, offering integrated marketing and viable ways to reach prospects, establishing relationships and forming one-on-one connections with your audience.
The largest line item and most visible part of your Aviation Marketing program is advertising. Yet there is considerable confusion in understanding advertising’s impact and measuring its accountability.
Pick up any business publication and chances are there will be an article about the death of outbound marketing, namely, advertising. Much of the angst associated with aviation advertising is based on measuring the effectiveness of advertising and the best way to build those data chains.
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Life After Advertising 2.0 