Want a recap of Fashion Week? Check this out!
Want a recap of Fashion Week? Check this out!
Before a fashion designer (and most start-ups these days) will turn to advertising or other traditional forms of marketing these days, they are most likely to use PR first. Why? Because of the broad reach and cost efficiencies PR is capable of delivering.So for those of you first embarking on a PR campaign, or maybe just starting to send press releases, here’s some do’s and don’t’s.
Don’t – Waste the time of the recipient of the Press Release
Spew of a lot of press releases just to make “noise” – they are not appreciated by editors and will not be read and when you have something that’s really important, guess what? Straight into the trash.
- Noisy press releases include, so-and-so has just joined the firm as CFO. If so-and-so isn’t well known, it’s not newsworthy
Meander around and tell a long story with the point, or news nugget, at the very end.
- If I gave an example here, you’d be asleep or gone by the time you hit the third line
Assume the recipient understands your industry’s jargon
- Jargon-type press releases include, The CFO of LIMA is a featured speaker on the USPTO IP panel at FSLV.
Do – Get to the bottom line(s) quickly
Create a catchy, SHORT, newsworthy headline which gives the bottom line in it – like a news story headline.
- LVMH Gives Middle Finger To Hermes, Acquires More Shares Despite Enormous Fine
If you have an existing relationship with an editor, separate their press release from the rest and customize it
- Susan, I think this information will be useful to the article you’re preparing
Make sure to put in quotes from key players in the action – it increases likelihood of the quote and point being picked up
- LVMH CEO Bernard Arnault had this to say about the situation….
For other tips, all necessary to create a powerful press release, and to increase your branding, check out the two links below.
Knowing your key customers’ lifestyles and work behaviors can help create content to align your brand shoppersona with your target customer’s shoppersona. In this digital era, to communicate real value, it is necessary to provide meaningful experiences through content that is based on your carefully researched key customer persona. With exploding competition for the customer’s time and attention, brands must become the “go to,” “top-of-mind” brand name for acquiring that special “persona” humans seek. To ring that bell, as Ivan Pavlov’s studies in behavioral conditioning explored, brands must create web content experiences based on knowledge of what will activate the customer‘s want/need to shop and buy. Brands have always sought to learn how they shop and why they buy; now they must go deeper.
So what do digital marketers need in order to create their behavioral conditioning strategies? Starting with lifestyle and life work, learning your customers’ online habits: Do they spend a lot of time online? When: While at work? Only when at home? Any time on the go? For What: Are there categories of products they are more or less likely to shop for online? Where do they get relevant brand information; which blogs do they value; how much do they rely on friends and associates for referrals; what media and devices are they using …?
To gain and keep customers, a brand must align its “positioning conditioning,” to establish why the customer should consider changing their brand preference behaviors. Again we ask: How is your brand different and better in terms of what it offers the customer in their managements of life? How do you lead the customer to your touch points and get them to engage with your brand?
If you haven’t been thinking about how digital marketing is changing the behavioral conditioning in customer behavior, it may be time to update your knowledge. Specifically why and how potential customers are now shopping and buying. These insights can be used to create content for the new Native Advertising (see our July 2013 blog) that takes a new approach to how media and brands are communicating what products and services a brand can promise and deliver. Digital marketing strategies should concentrate on interactions rather than transactions. The primary goal is to develop new ways to approach your key customers with content that contains sincere concerns for helping them and developing experiences to build a relationship that is based on knowledge of their new behavioral shoppersona.
For more on Online Shopping Habits of Technology Consumers, go to these very interesting and current survey results: http://www.logicbuy.com/features/survey-online-shopping-habits-of-technology-consumers-infographic
Arthur & Peggy Winters co-teach SXB 200 Brand Marketing Communications for Image & Meaning and SXR 050 Intro to Branding: The Art of Customer Bonding.
For years start-ups have been sending investors and other potential funding sources their business plans. With more and more start-ups pitching these days, and funders having less and less time to review them all, a new trend is emerging about how to approach funders. It’s the one-page pitch. Get to the point immediately. Here are some basic questions the answers to which should be included:
· What’s the problem?
· How are you solving it?
· Who’s your customer?
· How will your solution make money (your business model)?
· What stage is your company in right now?
· How much money are you looking for?
· What are you going to do with the funds?
· What’s the payback horizon and how much return will the funder get on their investment?
What’s really good about the one-page pitch is that it can be a significant way to force you to clarify, condense and articulate your ideas.
John Ason, an angel investor, often speaks about the one-page pitch: he has approximately 1-3 minutes to look at your idea. And it had all better be on that one page. And not single spaced with no white space on the page. If it’s not visually inviting, he won’t read it. John always offers very pointed and amusing illustrations of how he wants to invest. When asked what John looks for in a management team, his answer includes passion but he also says the combined age of the two principals should not be more than his age. Another, related to return on investment, is that the payout should not extend past his lifetime – his event horizon (as is that of many investors) is a 10x earnings return on his investment in a reasonable time frame (usually less than five years).
To learn more about John, how he works, what he looks for when investing, what he’s invested in etc.
Check out Martin Zwilling’s post on pitching angel investors – BTW these points hold true for VC and other pitches as well.
Here’s a first time funder’s story
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:
If fashion tech interests you, or you are a fashion tech person, then this event is well worth attending.
Art: you make it, you sell it.
It’s not a well-loved mantra in creative circles or in art school hallways, but in order to live as an artist you have to survive. At the very least, one should be able to cover expenses and yield some profit. How is this done in a competitive marketplace where gallery space is limited and visibility is key?
Increasingly, artists are using online platforms to gain visibility and even sell their work. From Etsy to Saatchi Online, these platforms offer artists a way to network, promote, sell, and gain momentum as entrepreneurs with very little overhead costs. In some cases, retailers and other interested buyers are drawn to the established package that comes from DIY online promoting: a product with a defined brand and built-in audience. If you’ve already done the work of packaging your creative product, research alternative ways to facilitate your business outside of gallery circles– it might ultimately lead you back to them.
Here is a great list of 200 places to sell your work online:
Visual artists should consider Saatchi Online and the unique benefits of its social media-inspired platform:
Be mindful of the triple C’s at all times:
Your Company, Your Customer and Your Competition.
It’s important to have a 360 view of your business universe so that you are prepared to never be caught by surprise and never miss an opportunity. At the point where the three overlap, you’re in the zone.
· You’re focused on their needs and wants
· At the same time, you’re keeping up with the trends, not just current, but anticipating and maybe even creating future ones
· You’re always staying in touch with them
· Where are they weak
· Where are they vulnerable
· What aren’t they doing that you can do
· What are they doing that you can do better
· What skills do you have in house – are you maximizing them
· What are your assets (especially intellectual property and capital – this means your employees)
· What kind of culture have you created that everyone lives in – internally and externally
For more on the subject, check out some strategic insight offered by the Harvard Review
In honor of Professor Elaine Stone who will be missed by all.
Our hat is off to you.
Elaine Stone was Professor Emerita at the Fashion Institute of Technology (FIT) and founder of The Enterprise Center at FIT.