Marketing mistakes can be costly and hurt a company’s brand. Avoid wasting time and money by learning from others’ missteps. Here are 15 common marketing mistakes to avoid in 2015: Mistake #1:  Hiring your friend’s advertising agency. Your company’s needs are unique. An agency that’s great at retail may not be optimal for a manufacturer with global customers. Find an agency that’s right for your specific needs. Mistake #2:  Getting seduced by the new. Social media…

Just like brands have colors, logos and images they aspire to “own” and be recognized by, savvy marketers carefully select labels to propel their brands. Pick the right label and you set the tone for customers and employees. Scholars not students Entrepreneurship Preparatory School (E Prep) in Cleveland calls students “scholars”.  Why? Calling them scholars, particularly children who come from homes where dropping out of school is far too common, sends a message to the students, their parents and their…

There’s a reason the ALS Association, the non-profit devoted to searching for new treatments and a cure of Lou Gehrig’s disease, has raised $11.4 million in the last 18 days: the ice bucket challenge. This social media phenomenon involves dumping a pail of ice-cold water over your head and then challenging three other people to do the same within 24 hours. Not in the mood to get wet? Donate $100 to the ALS Association instead. The idea…

As Peter Lewis, the late Chairman of Progressive Insurance used to say, “our most important assets walk up and down the stairs everyday.” Savvy business leaders understand that strong brands aren’t built by the marketing department alone; every employee in an organization contributes to the health of the brand. That’s why it’s key to leverage employees as “brand ambassadors”. For many organizations, the strength of the brand rests on the values and behaviors of its…

Don’t let price decide. Give consumers a reason to buy your brand over others so price is just another factor. Brand building is all about communicating how your widget is different and better than others sold on Amazon, various e-commerce sites and in retail stores. It’s about listening to people who use your product and have tried others, how they describe their experiences and how each product makes them feel. It’s about listening to people…

What is it about these 17 days of sport and politics that captivates us and unifies an otherwise often divided nation? Why did twice as many people watch the Olympics Sunday night compared to the combined primetime viewership of ABC, CBS and FOX? How do you create a brand your customers love? There’s a lot for business people to learn from the Olympics. Lesson #1: Make it about a common goal. The Games matter because…

#1: Spending marketing dollars without knowing your “allowable acquisition cost”. Allowable acquisition cost is how much you can afford to spend to attract a new customer and meet your profit objectives. It starts with calculating the average customer’s lifetime value. #2: Listening to your friends. Many of our clients have come to us after spending a lot of money with the wrong advertising agency. Yes, as Nielsen reports, 92% of people trust recommendations from friends…

Start-ups are teaching larger organizations some lessons, but are they listening? By the time some organizations finally schedule a meeting to decide who should study an upstart’s new product, the small company has already released its next version. Act now. Tweak later. These are the days of “minimum viable product” or MVP. MVP is a strategy used for fast and quantitative testing of a product. The idea is to get a “good enough” product in…

Groupon recently unveiled a service that features premium deals on high-end brands and restaurants. Groupon Reserve has dining deals and will add travel, entertainment, and luxury products. It also offers a free online reservation service at top-tier hotels, salons and restaurants and offers diners discounts of up to 40%. The move demonstrates smart brand thinking as Groupon adhered to these important branding principles: Solve a problem. Groupon needed to grow beyond deals on massages and…