Real Mad Men, 1960 vs 2013
Creative
One of my favorite aspects of the television show, is how they nail the creative process. The research, development, execution, and pitch. Sometimes no matter how hard you want to magically have a great idea, it just won’t come to mind. Other times you can think your idea is ground-breaking, but the client isn’t onboard with your direction. As far as the business world of a career in the creative industry, Mad Men is spot on.
Office Culture
Always watching their back from their coworkers, the cast of Mad Men are consistently out for themselves. Everyone is trying to get ahead, and willing to go to extreme lengths to be at the top. Today, this would be the perfect set up for a failing business. Burning bridges won’t get you far as an agency, as well as taking the time to lend a hand. A successful agency is sustained by good relationships, not only with clients but also with the entire team. Going the extra mile rather than cutting corners is what makes a great agency stand out from a good agency.
The Power of Advertising
In my opinion, this is the biggest change to advertising due to technology. In the 50s and 60s, the media had a certain control that it no longer has. With so many product options, advertising clutter and noise, ways to order, and convenience of the internet consumers’ brand loyalty is nowhere near where it was in the past. Being able to search for the best prices around allows consumers to be fickle with their purchasing decisions.
The power today is in the hands of the consumer. Rather than creating a marketing plan that you think is effective, it is important to put yourself in the shoes of the consumer. Would I benefit from paying attention from this ad, or is it just feature dumping like the other 3,000 advertisements that I see on a daily basis?
Conclusion
So, would an agency like Sterling Cooper be a top agency on Madison Ave. in 2013? No, just as the world evolves over time, so must agencies. Technology has pushed agencies to become more consumer-driven in their strategies. While Sterling Cooper would wine-and-dine their clients into their ideas, it was mainly their way or the highway. Today a lot more listening needs to be done rather than talking.
As Don would say “If you don’t like what people are saying, change the conversation.” However Don never had to deal with Yelp reviews. Sorry Don, your persuasive words might not make the cut in modern advertising. Time to work on your people skills!
The Colossus of Mountain View, California
Google has two syllables, but is the first word that comes to everyone's mind when looking up a new restaurant or simply looking up a fun, new factoid. As you very well may know, the DOW set a record yesterday, closing at 14,253.77. What you may not know is that Google's stock soared to 838.60 per share, up nearly 300 points in one year. Both of these things are good, not just for the domestic economy, but for the vastly interconnected global market which reflects even the most subtle doubts investors may have. Google is not content to sit idly by and rest on its laurels. The fledgling company has plans to one day supplant Apple's vaunted mobile operating system with their Android OS. There are also rumors of Google wanting to compete with Amazon in the realm of same-day shipping on products. If that weren't ambitious enough, there are even whispers of further television and even game console innovations that could potentially revolutionize the industries. I know Google's share price is quite lofty for anyone to think about buying in, but I promise you, it's NOT GOING DOWN. So what does all this talk about Google and its success have to do with Mad Men Marketing? Well, the digital realm is our wheelhouse (pardon the baseball terminology), and we have a Google certified Analytics consultant, and I will be taking the test to become Google AdWords certified as early as this weekend. This will lead to improved optimization for all of our clients. I don't plan on stopping there either. In a short time, I will begin studying for my Analytics certification as well, which would make us a Google Analytics certified COMPANY, a title that VERY FEW companies can boast. At Mad Men Marketing, like Google, we're not content to proceed with business as usual. We will continue to broaden our horizons, educate ourselves, and acquire new skill sets that will yield incomparable results.
Ketchup Kingpins
I'm not saying that this was a bad move at all. It's a good acquisition, but it deviates from the formula that's made Mr. Buffett the investment Demi-God that he is. Keep in mind this is the same guy who invested in the tobacco industry because he said that they cost a penny to produce, could be sold for a dollar, and were addictive. What can you really do with a ketchup company besides make ketchup? Perhaps partner with a really good french fry company? Maybe promote your brand and try to get it in every restaurant possible? It's a good marriage for 3G because they just paid 3 billion for Burger King, and looking ahead, can use the Heinz and Burger King acquisitions to increase their footprint on the global food service industry. They're looking at this move, not just as acquiring a product, but a distribution network as well, which is definitely a commendable way to think of it. After the acquisition, it's important to mention that stock shares of Heinz jumped 12.02 at closing. Score one for Mr. Buffett, but he is undoubtedly the public face of this deal. This is really a giant leap forward for 3G and a win for globalization as a whole.
“Farther Relates to Distance; Further is a Definition of Degree. You Should Have Said Further.”
One example I can give you is a recent interview of a former collegiate professor of mine. This is an accomplished man in his field who is the chair of his department, and he hails from Argentina. His surname is pronounced (gah-sho), but it is spelled “Gallo” which would lead most Spanish-speaking people to believe that it would be pronounced (gah-yo). Argentina, however, uses a dialect of Spanish similar to Castellano in Spain and their “ll” sounds like a “sh”. The interviewer used neither pronunciation, and I'm assuming she didn't bother to ask him politely how he pronounced his name, but she opted for the Americanized (gal-low) pronunciation when that English short “a” vowel sound doesn't exist in that language. In no way did this seem to bother Dr. Gallo, but to the listening audience which included myself, it sounded careless and unprofessional.
I've perused many websites, and scholarly journals, and other media. There is often a rough draft quality about many things I read. I often think to myself, “Clearly, writing in a public forum is a component of this person's job. Why aren't they better at it?”. The bottom line is this: The devil is in the details. If you want to affect public opinion with the written word, come with your “A” game, and read what you write aloud to yourself before posting it, or allow a colleague to read over your post. You'll be glad you did. You may only get one new customer out of a thousand, but sometimes it's a high-profile customer, and it could be worth it.
The Misconception With Auto Dealerships
Throughout my life, I've exposed myself to many career opportunities. In my early 20's, I decided to try my hand at selling cars. The good news is that the training was first rate, and the business practices employed by my dealership, in a purely ETHICAL sense, were right in line with my own set of moral values. The bad news, at least for the dealership that invested in me, was that I was not cut out for auto sales. Now that I'm in a place in my life where I can captivate the masses with the power of the written word, I feel this is an appropriate time to dispel a couple myths.
1. Those salesmen that approach you at a big dealership are likely new to the trade or at least new to the dealership. Veteran sales personnel make a great deal of their sales on repeat business and new people take walk-ups. Statistics show that 33% of people who purchase a car will go back to the last place they bought if they were reasonably satisfied. Don't be intimidated by those that approach you. Some of them may be just as nervous as you.
2. The purchase of a brand new automobile does NOT make the dealership a ton of money. The sale of a new car will often only fetch a profit of 1,000-1,500 dollars. The money is made in USED car sales and in AUTOMOTIVE SERVICE (which segues beautifully into my next point).
3. The service side is the backbone of any auto dealership. Right now, there is a big problem in the industry and all of the oil changes and brake jobs are getting lost to quick lube businesses and tire centers. Part of the reason? Tire centers and quick lube businesses ADVERTISE their ability to make auto repairs whereas dealerships tend to advertise only the inventory they currently have, which would make your commercial obsolete fairly quickly.