FDR and Online Marketing
Roberto Ramos recently wrote an excellent blog post on brandweek.com about the branding lessons that can be derived from FDR and the New Deal.
As we face economic and political challenges of a magnitude that may only occur once in a century, there are lessons to be learned from the way FDR marketed himself and his approach to the problems of his day, according to Ramos.
Today's marketers can derive the following 4 lessons from FDR
1. An urgent call to action: Roosevelt himself called his initiative to cure the ills of the economy "more than a political campaign. It is a call to arms." And while a bellicose metaphor might seem extreme for brands, a sense of urgency should be raised in corporations. Marketers, with our proximity to consumer opinion and sentiment, should be driving a program to understand the historic shift in consumer sentiment. Much like Roosevelt's "First 100 Days," we should all have a plan for the next three months, as well as a more long-term assessment of how this shift affects our category and consumers."
What do you think? How do you work? Do you have a marketing plan? If so, does it give you the flexibility to modify it and make quick turns in this tight environment?
2. Structural reengineering: "A salient aspect of the New Deal was the creation of new programs to address specific challenges and the population's concerns. The imperative for branding restructuring should begin by assessing your brand's readiness and capacity to gauge consumer feedback. This is a critical time to invest in research to not only understand how they are feeling, but also to gauge which are the most effective ways of reaching them."
How do you gather customer feedback? Or do you?
3. Inspired leadership and compassion: "One of the reasons for the New Deal's lasting legacy was its principled focus on the well-being of individual and communities. A lesson for brands is that they must demonstrate caring during these difficult times, as well as a steadfast commitment to your values. This is also a ripe time to assess your public affairs initiatives and to test cause-marketing programs."
Is your company and brand working for the well-being of everyone involved? Do you take care of employees? What do they really think of you? Are you listening in the social mediasphere to hear what may be being said about you?
4. Invest in and stimulate your brand. "While FDR was aware of the need for fiscal responsibility, the New Deal also demonstrated the benefits of stimulating the economy through public works. The lesson for brands here is a bit different, and more analogous to the traditional business thinking of "you have to spend to make money." The Great Depression and other recessions allowed winning brands like Procter & Gamble to increase their market share due to continued marketing commitment while their competitors retreated. The key is to do this smartly, by focusing the additional spend on research, value-centric messaging and leadership programs."
Have you decreased, maintained, or increased your marketing budget during these difficult times? Have you revisited your assumptions? Have you reallocated your spend to more measurable marketing methods? Is inbound marketing part of your mix
For the complete story, go to:
http://www.brandweek.com/bw/content_display/news-and-features/technology-finance/e3ifa55677495b300150344c71c66e7ebb1
What are you doing during this recession to improve your marketing?