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Here’s How One Business Quadrupled Its Sales in a Flat Market

Matthew Fenton Chicago Brand Strategy
(Reading Time: 6 minutes)

For many leaders of smaller businesses, sustainable growth can be difficult to conjure up.  If that sounds like you, I’d like to introduce you to a company that should give you hope.

Consider these results:

  • This company has averaged 19% compounded annual growth over the last 8 years.
  • This company doubled sales in one five-year period, and nearly quadrupled sales in eight years.
  • Notably, this growth was earned in a mature segment, not an emerging or high-growth segment.

And they did it without relying on any “secrets,” gimmicks or silver bullets.

Intrigued?  Let’s get to know them a little better.

Continue reading “Here’s How One Business Quadrupled Its Sales in a Flat Market”
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“This Is a Skyscraper,” and Other Lies We Tell Ourselves

(Reading Time: 2 minutes)There’s a terrific scene in the movie “Big,” in which Paul, the rival of Tom Hanks’ Josh, shares his silver-bullet idea for the upcoming year.

In the spirit of toys that transform, it’s a robot that turns into a… building.

Matthew Fenton Chicago Brand Strategy
“This is a skyscraper!” – the incomparable John Heard

“I don’t get it,” Josh famously says.  “There’s a million robots that turn into something.  This is a building that turns into a robot.  What’s fun about playing with a building?  That’s not any fun!”

“This is a skyscraper!” Paul insists. Continue reading ““This Is a Skyscraper,” and Other Lies We Tell Ourselves”

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In a Crowded Market, How Do I Create Brand Differentiation?

Nordstrom Macy's Brand Differentiation
(Reading Time: 5 minutes)

“We’re in a crowded market.  We have no meaningful advantage, and if we did, someone would copy it by next Tuesday.  So how do we create brand differentiation?”

This question, or some version of it, is one I’ve been asked most often in my 20 years of brand strategy consulting.

The good news: There’s always an answer, and I’ll point you to several areas of exploration.  The bad news: It won’t be easy.

Continue reading “In a Crowded Market, How Do I Create Brand Differentiation?”
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Why Is Brand Awareness Such a Weak Objective?

Brand Awareness Martin Shkreli
(Reading Time: 4 minutes)

At some point in the history of marketing and sales, the “purchase funnel” was created.

At the top of every funnel is the first step – awareness.  We then proceed down the funnel to consideration, evaluation and purchase (though the exact steps vary from model to model).

Brand Awareness Purchase Funnel
One of several versions of the “purchase funnel.”

And so some marketers began to believe that brand awareness was a reasonable objective of their efforts.  How can we stuff consumers into our imaginary funnel if we don’t start with awareness?

Continue reading “Why Is Brand Awareness Such a Weak Objective?”
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Be Selective (To Do More With Less)

Be selective to do more with less

(Reading Time: 2 minutes)Be selective.

This is not a suggestion or an empty mantra.  It’s one of the very few brand-building imperatives I’ll propose to you.

As a leader of a challenger brand, you’re starting from behind, and with fewer resources than your competitors.  And limited resources must be focused if they are to have maximum impact.

Here are five important ways you can be selective: Continue reading “Be Selective (To Do More With Less)”

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Standing at the Crossroads: Will You Choose Bigger or Better?

Will you choose bigger or better?

(Reading Time: 2 minutes)If growing your brand is among your priorities, at some point you’ll face a choice:

Would you rather grow rapidly, even if it means sacrificing the quality of your experience?

Or would you rather grow more slowly, while maintaining or improving the quality of your experience?

In other words: If you had to choose, would you rather be bigger or better? Continue reading “Standing at the Crossroads: Will You Choose Bigger or Better?”

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Heinz Just Approved Ads From “Mad Men,” and That’s a Good Thing

Heinz Mad Men Fries Ad

(Reading Time: 2 minutes)In this case, advertising imitates art.

AdWeek reports that Heinz has approved ads that were originally presented on the TV series Mad Men.

In season 6 of that show, set in 1968, Don Draper pitches a series of print ads to Heinz execs.  The ads are novel in that they don’t show ketchup at all – only foods that are wanting it.  As Don tells the Heinz execs, “The greatest thing you have working for you… is the imagination of the consumer.” Continue reading “Heinz Just Approved Ads From “Mad Men,” and That’s a Good Thing”

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On the Practice of Active Positivity

Positivity

(Reading Time: 2 minutes)It’s easy to sit on the sidelines, lobbing grenades at those who have done the work and put something out there.

I’m guilty of this myself at times.  I do my best to frame the mistakes of others as lessons for the rest of us, though sometimes I can’t resist making a dig at the truly awful stuff.  It’s not like there’s a shortage of bad branding out there.

But focusing only on the negative won’t make you a better leader.  And it doesn’t work as a philosophy of life. Continue reading “On the Practice of Active Positivity”