Branding
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Students at major colleges and universities across the country can now add one more application to their mobile phones, and it’s called CampusMint. The application claims to be the first mobile promotions application geared directly at linking merchants to college students. With access to electronic discounts, promotions, movie times and entertainment news, CampusMint provides an eco-friendly way for students to receive and redeem promotions for a variety of products and services from local restaurants, theaters, clothing stores, and more.
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Can social networks be utilized to help tackle environmental problems across the world? Freecycle appears to be doing just that. In the midst of a global economic crisis, when people are looking for ways to be more frugal, Freecycle is using the web to help millions of people go green and save money too.
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I recently completed Allen Adamson’s new book, Brand Digital. Like his earlier book, Brand Simple, it helps articulate the importance of brands in the digital age. One of the key takeaways from the book is that the brand/media relationship has done a 180 degree flip. A little more than a decade ago marketers were concerned with how mainstream media was going to steer their brands. Big media was just about the only game in town and communication between a company and the public depended on that connection. However, today, astute marketers are more concerned with how the brand concept should determine what media is to be used, and how best to use that media.
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In a meeting earlier this month with magazine executives, Google CEO Eric Schmidt helped illustrate the importance of brands in the Internet age. Schmidt said the Web is fast becoming a “cesspool” with a lot of false and misleading information. One way the consumer can count on the information they find online is to associate it with a brand they trust. “Brands are the solution, not the problem,” Schmidt offered. “Brands are how you sort out the cesspool.”
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Late yesterday astute investor Warren Buffett’s firm, Berkshire Hathaway, bought $5 billion in Goldman Sachs stock – a move that many will no doubt see as reckless or foolish. One of the things that has made Buffett the world’s richest human being is that he zags when the rest of the market zigs. The scared are running for safety. The savvy are looking for gains.
Smart companies that zag when other companies zig can reap similar benefits. Many firms would say, “There is a downturn; we need to cut our marketing budget.” Yet business pundits have suggested for decades that increasing your marketing and advertising during a recession –when everyone else is hunkering down – is one of the fastest ways to increase market share.
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