Verve's Blog
The Convergence of Social Networking, E-Retailing and Integrated Media: Opportunities for Luxury Marketers
Social
networking and integrated media tools have become a part of everyday
life for people all over the world, both in their personal and
professional lives. Although popular, one has to ponder whether we are
really being social with this form of cyber communication.
Posted at 10:41AM Jan 27, 2010 by Verve Marketing and Design in Status | Comments[0]
Niche Marketing – The Spending Power of Women
..... – businesswoman, wife, mother, daughter, entrepreneur, sister, friend,
teacher, aunt, expert (the list goes on and on) – and women make 80% of
all consumer purchases......
Posted at 07:30PM Sep 29, 2009 by Verve Marketing and Design in Status | Comments[0]
Niche Marketing — The Home Space
Our homes are as unique and varied as our personalities. Bringing life to an inanimate dwelling requires style, attitude and interior design to make the home space inviting and a form of personal expression. . . . In a panel discussion held 57 stories above 16th Street in Philadelphia, experts from the home industry discussed trends, products, services and the home dwellers themselves.
[Read More]Posted at 12:30PM Jul 28, 2009 by Verve Marketing and Design in Status | Comments[0]
Entering the Mind of the Middle-Class Millionaire
In a presentation to the Luxury Marketing Council of Philadelphia, author Lewis Schiff properly introduced members and guests to the market segment know as The Middle-Class Millionaire. . . . Understanding their core values and spending habits may help your business capture part of their market share.
[Read More]Posted at 11:39AM Jul 28, 2009 by Verve Marketing and Design in Status | Comments[0]
Global member business organization comes to Philadelphia!
Posted at 08:57PM May 26, 2009 by Verve Marketing and Design in Status | Comments[0]
Living Luxury – Crafting the Experience
Every aspect of every industry is shifting due to our scattered
economy. A value proposition your company can offer to the consumer is
the Full Experience – it’s....
Posted at 07:06AM May 07, 2009 by Verve Marketing and Design in Status | Comments[0]
Love ‘Em or They’ll Leave You – a beyond basics customer service reminder
Customers remember the service experience - it wins them over and builds brand loyalty.......The more luxurious your product, experience or service, the harder you
have to work. High-end customers will force a company to meet certain
standards........
Posted at 10:22PM Apr 01, 2009 by Verve Marketing and Design in Status | Comments[0]
Changing Tactics in Tough Times
It’s a new economy and a new day in all regards.
Comfort zones of yesterday are history forcing each of us to stretch
into new a new era armed with new tools, lingo and perhaps lifestyles
Posted at 08:18AM Mar 19, 2009 by Verve Marketing and Design in Status | Comments[0]
Niche Marketing: Slightly Easier than Finding a Needle in a Haystack
December 2008
I love Chinese food – the smell, taste and texture – and I am a pro with chopsticks! Pretty impressive for someone who is not of Asian descent, huh? And since I frequent Chinatown, I must know how the Asian market consumes media, right? It sounds absurd, but when businesses don’t pay attention to their target consumer, they often wind up speaking to the general market instead of their niche audience. With today’s savvy consumer living in a world that is saturated with advertisements, mass marketing is just not going to cut it. Niche marketing is the new advertising frontier (trust me you’re not in Kansas anymore!).
It is imperative in today’s multi-cultural world to know how to identify your ideal client. It goes beyond age and house hold income – it’s understanding detailed demographics, psychographics and purchase behaviors. It’s identifying your potential clients and being able to speak to them in a language in which they identify. It’s understanding as much as you can about your target audience from their marital status to their house hold income to their philanthropic affiliations and hobbies. It’s truly getting a solid picture of the person (with disposable income) that you want in your store or on your website purchasing your product or service.
This is where you have to do some homework. You need to be able to speak to your ideal client, even if you’re not bi-lingual. To start, know their age, marital status, zip code, number of children, type of car, political party, religion, ethnicity, sexual orientation, dining habits, highest educational degree completed, travel preferences and house hold income. Gather as much data as possible as often as you can in order to identify your ideal prospect, understand their habits and position your brand ideally – you want your product or service to be the most appealing to your target audience.
Okay, so information over load, right? Let me break it down for you in the most basic, animalistic sense: dating. Think about this for instance, when someone lists a personal ad, they typically don’t do the following: “Male seeking Female.” Let’s assume our male isn’t that desperate and wants to list specific criteria in order to identify a potential mate with similar interests. Let’s elaborate on our listing: “White, athletic, professional, native Philadelphian male in his 30’s seeks attractive, fit female in her late 20’s or early 30’s living in Philadelphia who enjoys dining, travel, dancing, professional sports, reading and music.” Our “male” is likely to receive many more qualified responses with a detailed listing vs. a vague ad appealing to all single ladies in his area. The same principle applies to “attracting” your ideal customer.
Let’s time travel for a minute. Fifty years ago when the white males of Madison Avenue ruled the advertising world (anyone see the show Madmen recently?), the “mass market” catered to one ethnicity. In today’s non-traditional market, it is imperative to position your brand properly in order to reach your niche market within the general sector. For example, close to 50% of the population in today’s metropolitan markets are “ethnic.” And, it’s not simply African American or Hispanic. We’ve come a long way in the past 50 years - the 2000 census was the first to allow individuals to self-identify themselves as multicultural. So, it’s understanding if your consumer is African American and of Caribbean or Black Hispanic descent or Hispanic and of Mexican, Puerto Rican, Cuban or South/Central American descent. If you are trying to reach one niche ethnic market, you better understand their preferences - create a message that is relevant to them. The multi-cultural information that is now available opens a whole new opportunity to extract data about your metropolis in order to understand the buying patterns, religions, age, and influences of a specific ethnic audience.
Let’s face it: people often buy when they feel connected to a brand or a company. Our grandparents frequented the corner, “mom & pop” store because they knew and trusted Mr. and Mrs. Nicola (yes, my grandparents were Greek). Really, not much has changed. If your customer identifies with your brand, positioning and philanthropic ideals, they will likely be a loyal customer. If you can take it one step further and understand everything about them (it’s okay to be a voyeur), you are one step closer to reaching, obtaining and retaining that customer.
So, after you have answered a plethora of questions about your ideal customer and you understand them like the back of your hand, make sure you keep your focus, learn to speak their language and continue to do your homework! Niche marketing must be incorporated into your planning – it will save you money, help you target effectively and facilitate creating the right message for the right audience in the right medium. Go niche or go home! Well it’s about lunchtime and I hear General Tso calling my name - funny, I don’t speak Chinese…
Posted at 12:00AM Dec 12, 2008 by Verve Marketing and Design in Status | Comments[0]
Philadelphia welcomes the Luxury Marketing Council
... a new chapter of the Luxury Marketing Council will make waves in our
region and unite the most influential, intellectual and savvy minds in
the luxury marketing arena today.....The Philadelphia chapter aims to deliver an intensive program of intimately exclusive, member-only, monthly events.... The Luxury Marketing Council of Philadelphia brings together the
smartest and most innovative marketers of luxury products and services
to explore best practices, critical issues and trends, as well as
connects them with the rest of the world
Posted at 11:31AM Oct 13, 2008 by Verve Marketing and Design in General | Comments[0]
Advertising Noise Throughout History: Love it or Loathe it, it’s Here to Stay
August 2008
From the time your woke up this morning to the moment you sat in your cushy desk chair at work, think of all the advertising messages that filled your AM – morning radio commercials, charity outreach on your cereal box, sale ads in the morning newspaper, banner ads on CNN.com, electronic billboards featuring luxury automobiles, a new restaurant opening plastered on the back of a public transit bus, a presidential campaign bumper sticker on a hybrid, museum exhibit signage in the train station and probably about 100 more examples that you consciously or subconsciously encountered. A thought to ponder over your morning cup o’ Joe: how did our society become a place that constantly surrounds us with proverbial noise?
Throughout the years, advertising has been the hero and bane of many companies’ existence. But how and why did it all begin? In the early 1700’s the first newspaper advertisement was published in the Boston News-Letter and advertising has been evolving ever since. In the 1880’s, rural department stores such as Montgomery Ward and Sears Roebuck introduced the mail-order catalogue to reach those consumers who were, well, hard to reach. This strategy planted the seed for what all savvy marketers now know: instead of targeting the masses, target your unique client.
But how does one effectively target their audience when expenses have risen since the time of the Pony Express? As we all know, advertising takes money, but believe it or not, as early as the 1900’s, companies were spending upwards of $1 million on advertising ventures. In fact, the American Tobacco Company spent $12.3 million on a Lucky Strikes campaign in 1929. And during World War II, $350 billion was spent on wartime effort advertisements. Since advertising budgets have grown throughout history, one must admit that something must be working because companies continue to spend.
Aside from the birth of advertising and expenditures on marketing, what provocative advertising revolution came next? An impactful three-letter word: S-E-X. And it was in 1911 that an ad for soap appearing in the Ladies Home Journal leveraged sex appeal for the first time in history. Another ruggedly sexy campaign came in the 1950’s with the emergence of the Marlboro Man. Since then, sex in advertising has been prominently on display – Brooke Shields in Calvin Klein jeans, Anna Nicole Smith for Guess and all those Abercrombie & Fitch boys. Besides selling sex, these ads sold something even more recognizable and lasting: the brand.
So, how has ‘the brand’ affected sales? By resonating with the consumer, of course. In the 1980’s Pepsi launched ‘The Pepsi Generation’ and started the cola wars that are still continuing today, making Pepsi and Coca-Cola internationally recognizable brands. Around the same time, Nike re-invented its brand with the ‘Just Do It’ campaign, which featured celebrity sports figures such as Bo Jackson and Michael Jordan. More recently, Dove launched its ‘Campaign for Real Beauty’ which features real women, not models, advertising Dove’s product line. What these three companies have achieved is global awareness of their ‘brand:’ the Pepsi red, white and blue circle, the Nike “Swoosh” and Dove’s silhouetted dove.
Not surprisingly, the face of advertising drastically changed again in the 1990’s with the rise of the Internet. Both marketing and everyday communication was significantly altered with the birth of the World Wide Web. With email, podcasts, YouTube and Facebook – just to name a few – advertising strategies have had to evolve to keep up with the cyber revolution. Brand recognition continues to be vastly important though; for example, since the 1980’s Apple has created a strong and sought after brand via it’s many free-thinking advertising campaigns. With the launch of Apple’s iPod and iPhone in the 2000s as well as its constant (and often amusing) rivalry with the PC, Apple has become a phenomenon within the interactive realm. Using the marketing successes of the corporate giants as a gauge, it’s time to ask yourself: is your brand working for you?
Consider that today’s consumer is savvy and the choice of advertising mediums are vast. Therefore, advertising - and having a distinct presence - is that much more important. Consumers are flooded with messages from the time they wake up in the morning until they finally close their eyes at night. One has to ponder how much information actually gets through. For instance, a year or so prior to the 2008 summer movie opening of The Dark Night, Warner Bros. released a successful, heavily web based, viral marketing campaign that created a lot of buzz around the film. This viral endeavor generated a highly anticipated opening weekend that produced $155.34 million and topped Spider-Man 3 to capture the best opening weekend at the box office. This marketing strategy penetrated the noise; will yours do the same?
Your business’s branded and strategic messages needs to co-exist amidst the branding of thousands of industries. So, in light of this chaos, how does your brand become the loudest? That’s where you can be the ruler of your own marketing destiny and ensure that your brand makes an impact on the consumer. Defined messages break through the noise when the time, place or medium, and audience are defined – it’s like thrusting your brand into the perfect ‘advertising’ storm. Here are a few tips to get you started: consider your audience, unique characteristics, competition, image, growth strategy and brand – become a leader in your industry.
Now that you know a little bit about advertising’s past, start to consider your own advertising future and how it’s affecting your bottom line. Perhaps your budget does not compare to the $100 million spent on the opening and closing Olympic ceremonies, but nevertheless, advertising works and you need to be on the bandwagon. You never know, maybe you and your business will become part of advertising history!
Works Cited
American Advertising: A Brief History. 31 March 2006.
American Social History Project/Center for Media and Learning (Graduate Center, CUNY) and the Center for History and New Media (George Mason University). 12 August 2008 http://historymatters.gmu.edu/mse/ads/amadv.html
The Advertising Age Timeline. 2005. Advertising Age / Crain Communications Inc. 13 August 2008 <http://adage.com/century/timeline/index.html.
“Apple In. advertising.” Wikipedia: The Free Encyclopedia. 19 August 2008. 20 August 2008 http://en.wikipedia.org/wiki/Apple_Inc._advertising
“Nike’s “Just Do It” Advertising Campaign.” CFAR – Center For Applied Research. 2008. 12 August 2008 http://www.cfar.com/Documents/nikecmp.pdf
Posted at 08:44PM Aug 29, 2008 by Verve Marketing and Design in Status | Comments[0]
Uncharted waters: Adjusting your tack for a new journey
July 8, 2008
To say we are living in uncertain times may be an understatement. With the economy, trends and ever fluctuating business models, what we as individuals dislike the most is what may, in fact, keep us afloat: change. We need to ask ourselves, will we develop new solutions to overcome existing obstacles or will we resort to our old ways? Regardless of the tactics used, we will all (hopefully) seek renewal and rejuvenation along the journey.
It’s apparent that the classes and masses are united in one boat that is traveling in a sea of constant ebb and flow, minus a navigation system to ensure we reach our desired destinations. One thing is certain: that in these uncharted waters the affluent have the bigger and better vessels. The affluent consumer is aware of the choppy current but only feels the gentle rocking of a steady hull. This however, is still affecting their spending habits for several reasons. Investments are not bringing in the same returns, investing across other ponds is unfamiliar and the lavish consumption of old may move aside for less indulgent purchases.
We are seeing a shift in luxury spending by the affluent consumer and it is becoming “a bit more practical.” Will they still purchase a Birken Bag? Sure, but perhaps not one for every season. Will they continue to invest in luxury vacation getaways? Of course, but most likely a $75,000 family holiday to Africa will take precedence over weekend shopping sprees in London, Paris and Madrid. Spending is still prevalent; however, it seems that selectivity is growing more and more popular with the affluent consumer. We see an increase in affluent spenders investing in stable purchases, such as fine art and wine; for example, the $25.7 million dollar sale of American artist Jeff Koons's sculpture "Balloon Flower” or a record breaking $345,000 for six bottles of Bordeaux. Consumption may be down but ownership, power and the ability to buy life-enriching experiences has reached record highs.
As marketers in this changing environment, we need to adjust our approach when targeting the affluent consumer. Perhaps focusing on the investment value of a product or service far outweighs the popularity or price point regardless of whether the item is a $7,500 couture handbag or a $3.1 million vineyard in France. Luxury products that have longevity can be positioned as cherished items and services that can be packaged as one-of-a-kind experiences may be more appealing in today’s economy. The affluent consumer, although paring back, is the driving force of our socio-economic pyramid. Cater to and nurture your clients and the little black card with big spending power will prevail.
So what is on the horizon for the remainder of 2008? It seems that consumers, especially those with expendable incomes, will continue to purchase because their needs and wants are a reality and they can afford to capture their bliss. What they purchase and how they consume will fluctuate according to the trends and economic outlook. Appealing to and understanding the buying patterns of the truly affluent can make for a profitable business model during times of economic fluctuation. As our unchartered journey becomes clear, it will only further stimulate profits when the economic cycle turns the proverbial corner and spending becomes the “norm.” So whether you choose to ride the wave of doubt and hope to stay afloat or commandingly take the helm with a decisive tack, keep your course, there is always a rainbow after the storm.
Posted at 08:44PM Jul 08, 2008 by Verve Marketing and Design in Status | Comments[0]
Verve Marketing & Design Teams with Heifer International
July 2008 – Verve Marketing & Design™ is teaming up with Heifer International over the next six months to produce three new children’s books by Page McBrier and one coffee table book that will feature the works of notable mural artist Betty LaDuke. For over twenty years, Verve has helped clients target and reach the luxury consumer through unique marketing and design strategies, enabling clients to reach their goals.
Verve is proud to help this exceptional company create awareness through educational children’s books. These books help to inform children and their parents about Heifer International’s farsighted support of villages around the world. As a follow up to the highly popular, New York Times Bestseller, Beatrice’s Goat, comes the second in a line of four children’s books, The Chicken and The Worm. Due to be released in July, The Chicken and The Worm is a pre-k read to book written by Page McBrier and illustrated by Rick Peterson. Subsequent books will include Winter in Songming, a 3rd and 4th grade book, illustrated by Lyuba Bogan and Once There Was and Was Not: A Modern Day Folktale from Armenia, illustrated by Stefano Vitale and targeting 5th and 6th grade reading levels. All the books will be printed domestically on recycled paper, using soy ink and with an FSC certified printer.
Verve Marketing & Design President & Brand Strategist, Diane Lemonides, is thrilled to be working with this non-profit organization. “I have been familiar with Heifer International and their unique mission for some time. We are honored to help develop this series of children’s books and the exceptional coffee table book in conjunction with Heifer International. My own children enjoyed reading Beatrice’s Goat years ago and after recently reading an article in The New York Times detailing Beatrice’s rise from poverty in Uganda to graduation from Connecticut College, I can only hope many more children both nationally and internationally will benefit from The Chicken and The Worm,” said Lemonides.
About Heifer International: Heifer's mission is to work with communities to end hunger and poverty and to care for the earth. Heifer envisions a world of communities living together in peace and equitably sharing the resources of a healthy planet. The strategy is to “pass on the gift.” Heifer believes in the simple idea of giving families a source of food rather than short-term relief, which has continued for over 60 years. Today, millions of families in 128 countries have been given the gifts of self-reliance and hope. For more information, visit www.heifer.org.
Posted at 03:50PM Jul 07, 2008 by Verve Marketing and Design in Status | Comments[0]
Fractional Ownership: What a Piece of the Proverbial Luxury Pie Can Offer
Today, the fractional ownership realm is much broader, enabling the
owner to invest less among more ventures, including jets, fine art,
luxury handbags and yachts, horses & vacation homes. perhaps your business can incorporate the fractionally owned concept into your business model.
Posted at 09:37AM May 01, 2008 by Verve Marketing and Design in Status | Comments[0]
Globetrotting is good for business
Have you thought of how you can take advantage of your luxury product or service becoming part of these blooming economies?
[Read More]Posted at 09:57PM Feb 28, 2008 by Verve Marketing and Design in Status | Comments[0]