Category Archives: Inside Retail

Maintaining Integrity as You Grow Your Business

How to maintain integrity in the creative and entertainment industries is a central question to the new and struggling creative entrepreneur. What you’re willing to compromise can define your career.

In this digital age of increased transparency, consumers want to know what to expect from a business and they readily share that information to broad social networks. This is why it’s important to set a precedent and maintain it; still, there are certain moments that call for flexibility.

Is responding to these calls necessary every time, and if so how flexible should one be? While the answers to these questions depend on the situation, overall one should be able to respond to these moments in a way that is consistent with the company’s and one’s own moral and social values. Set aside time to figure out what you and/or your company stands for as a creative and professional enterprise. Outlining these values now may help you maintain your integrity as your business grows.

Read more to gain insight on recognizing precarious compromises and get tips on maintaining integrity in your business:

http://www.thebusinessofbeingcreative.com/2013/06/18/the-problem-with-flexibility/

https://www.openforum.com/articles/the-importance-of-keeping-your-integrity-in-business-1/

NATIVE ADVERTISING… a new definition, or will it lead to consumer deafinition?

NATIVE ADVERTISING… a new definition, or will it lead to consumer deafinition?

Brandpsych logo

It may be the time to ask whether this new definition is helpful — NATIVE ADVERTISING is a method of communication that is “native” to the experience offered within a website’s content, valuable content integrated within the editorial feed — not an ad-in-a-box alongside the search page.

Actually, we have already used descriptions of Native Advertising such as advertorial, brand reference, and sponsored content, among others.  Thus, Native could be defined as any ad that is blended within content.  Also from a consumer’s view, it may be an opt-in interactive choice in which she or he is aware of the advertiser’s message intent, and still opts-in.  Different age groups react to marketing online in more or less accepting/receptive ways.  Therefore, a Native Advertiser needs to communicate how its offer has personal appeal and feels native to the site, overcoming the consumer’s wish not to hear or see advertising messages.

Up to this era of constant change and 24/7 communications, the advertiser and the media had agreed that the blending of advertising and editorial was not allowed. There was a wall between the two because it was considered confusing to the consumer.  It might be suggested that the media’s main interest was in making money through advertising, even more than in providing useful information and entertaining experiences.  However, many of the media are in a new world of needing to find new revenue streams.

At this time, an argument is occurring about what the term Native Advertising really describes.  And if it also means advertising that will not be received as advertising.  On the other hand, it may prove to be perceived as better than the newer omni-channel forms of advertising that surely are on the way.

Some practitioners will contend that in this new “social media world,” many consumers don’t perceive any difference between editorial and advertising.  They regard it all as content in their communication.com lives.  Behind the strategist’s attempt to create appeals by linking content to a consumer’s wants and/or needs is still the positive positioning of a brand.  Whatever method used, increased brand relationship + loyalty = improved brand equity, which is the goal.

It is important to note that consumers are now more informed, aware, and selective.  So we ask: Is it wise to use “Native” in our advertising and communications?  Will it be a strategy to increase trust or mistrust?  Will it be constructive or obstructive?  Will marketers get better results, publishers get a premium revenue stream, and audiences get a better experience?

Will Native Advertising be the new strategic direction or just one more arrow in our ad quiver?

Native Advertising Mad Avenue

“I feel that Native Advertising may turn out to be the Mad Avenue to be on…” Drapered by Art Winters

 

For more on Native Advertising:

Adyoulike.com; Nativo.net; AdsNative.com

sharethrough.com

 

Arthur & Peggy Winters co-teach SXB 200 Brand Marketing Communications for Image & Meaning and SXR 050 Intro to Branding: The Art of Customer Bonding.

Make sure you know what you want for your company or you will lose it: “I guarantee it”

A few weeks ago Men’s Warehouse founder, George Zimmer was fired from the company he founded. It turned out he wasn’t the majority shareholder of the company.  That led to his ouster.

No matter what kind of company you found, there are a few key points to ensure this doesn’t happen to you (unless you are just in it for a quick turnaround and flip, in which case that’s your exit strategy and what you strive for).

·         When raising money, remember, the probability of having to give up more than 50% to get the money is very high.  That means you’re giving up control.  Often the founder is parachuted out with lots of cash.  But if you want to build a company and maintain control, think carefully about the sources of your money. This is what is meant by “expensive” money.

·         When taking on partners or starting out with partners, make sure there is a strong contractual agreement in place that covers who is in control of what and to what degree.  Anything can happen, and the weird stuff often does – if your partner dies or gets divorced, you may wind up with an heir who knows or cares nothing about the business.  Then your problems really begin, especially if they don’t want to be bought out (or you can’t afford to buy them out).

·         Vision  = Control  as stated very clearly in the article link below.  If you want to see your vision flourish, make sure you maintain control of your company.

http://www.linkedin.com/today/post/article/20130625210053-25745675-the-lesson-from-george-zimmer-s-firing-keep-control?ref=email

·         If your company has a Board of Directors, remember one of their main functions is to determine whether or not to fire you (and your management team).  This is what happened at Men’s Warehouse. This is also why so many large corporations have a Board of Directors that is composed of cronies.

http://www.huffingtonpost.com/2013/06/26/george-zimmer-letter_n_3505699.html

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.