Podcast Summary
Branding and Marketing Insights: Marketing veteran Jim Stangle shared insights on building world-class brands at the Cannes Lions International Festival of Creativity. Consider joining Wondery Plus or Audible for inspiration and learning, and shop Article for home decor with discount code BUILT.
There are numerous ways to be inspired and entertained through audio content and home decor. Wondery Plus subscribers can enjoy early and ad-free access to podcasts like How I Built This, while Audible members can explore a vast catalog of audiobooks and podcasts, keeping one title permanently. Article offers stylish and affordable furniture, making home shopping a delightful experience. At the Cannes Lions International Festival of Creativity, marketing veteran Jim Stangle shared insights on building world-class brands. Previously at Procter & Gamble, Jim helped establish P&G as a leading brand builder. Now, he runs a consulting firm and podcast. Our conversation with Jim, recorded live at Amazon Stage, was filled with valuable insights on branding and marketing. For inspiration and learning, consider joining Wondery Plus or Audible. For home decor, Article provides a curated selection of furniture at delightful prices. To shop, use Article's discount code BUILT for $50 off your first purchase of $100 or more. To elevate your retail business, try Shopify's powerful in-person and online sales integration. Sign up for a $1 per month trial period at shopify.com/built. Overall, there are plenty of resources and tools available to inspire, entertain, and improve various aspects of our lives.
Duncan Hines Cookies Innovation: Guy's determination and P&G's investment in innovation led to the introduction of Duncan Hines ready-to-serve cookies, but competition and consumer demand for variety posed challenges.
Guy's determination and P&G's investment in innovation led to the introduction of a new product, Duncan Hines ready-to-serve cookies, to the market. Guy's early rejection as an intern didn't deter him, and his relentless pursuit of introducing this product resulted in significant advertising and sampling efforts. However, despite a promising start, the competition and consumer demand for variety proved to be challenges. Guy's experience with immersive research, which he first applied to Jif peanut butter, became a critical part of his career, shaping his approach to marketing and consumer behavior.
Consumer immersion research: Immersing in consumers' lives to understand their values and priorities can lead to significant business success by resonating emotionally with consumers and addressing their needs beyond just the product.
Understanding the needs and values of consumers beyond just the product itself can lead to significant business success. This was demonstrated through Procter & Gamble's (P&G) experiences with Jif peanut butter and Pampers diapers. With Jif, P&G immersed themselves in the lives of moms and teachers to learn about their priorities and formed an alliance to improve schools. This resonated emotionally with consumers, leading to record sales, profits, and brand loyalty. Similarly, when Pampers was losing market share to Huggies in Europe, P&G sent a team to spend time with parents to understand their concerns beyond just keeping babies dry. They discovered the importance of aiding in the physical, social, and psychological development of babies. By aligning with these values, Pampers was able to reinvigorate the brand and regain market share. These examples showcase the power of immersion research and the significance of addressing the emotional needs of consumers.
Consumer Immersion Research: Deep understanding of consumers' needs and experiences through immersion research led to innovative products and growth for P&G brands like Pampers and Downey Fabric Softener
Successful marketing strategies are rooted in deep understanding of consumers' needs and experiences. Procter & Gamble (P&G) executives, including Jim Stengel, emphasized the importance of immersion research in uncovering insights that led to innovative products and growth for brands like Pampers and Downey Fabric Softener. By getting out of the office and into people's homes and communities, P&G was able to identify pain points and opportunities that data alone could not reveal. In the case of Pampers, the company shifted from a product-focused approach to being an advocate for baby development, which resonated with parents and tripled revenue. With Downey Fabric Softener, the team discovered that reducing suds was a game-changer for low-income consumers in Latin America, leading to a new product that addressed their specific needs. In today's data-driven world, Stengel emphasized the importance of combining data analysis with immersion research to uncover ground truths and create world-class marketing strategies.
Adapting to consumers: Businesses need to adapt and grow with their customers by offering relevant products and services, and being present where consumers spend their time and are influenced.
Both businesses, State Farm and 4 Sigmatic, understand the importance of adapting and growing with their customers. State Farm offers insurance that can expand with small businesses, while 4 Sigmatic provides functional mushroom and adaptogen-infused products that offer nutritional benefits beyond the average. Jim Stengel, a marketing expert, shared his appreciation for brands like Vuori that successfully pivoted their marketing strategy to resonate with consumers. In today's marketing landscape, relevance and being in touch with consumers are crucial, as social media and influencers play significant roles. Companies must leave old paradigms behind and act on the information about where their consumers spend their time and who influences them. American Express, with its travel perks and card member benefits, also plays a part in enhancing consumers' experiences and making them feel part of the action.
Authentic connections, Building relationships: Brands that focus on creating authentic connections with customers through tactics like entertaining marketing, niche marketing, and influencer marketing will thrive in the future of advertising.
Successful brands today are focusing on creating authentic connections with their customers through various tactics, such as entertaining and engaging marketing campaigns, niche marketing, and influencer marketing. Brands like Kraft Heinz are embracing these strategies to earn attention in a world where awareness can no longer be bought easily. The future of advertising lies in building authentic relationships, and companies that adapt to this new reality are the ones that will thrive. Influencer marketing, in particular, is an effective way to reach audiences at scale, but it requires constant engagement and a deep understanding of the influencer's audience. The success stories of the past, such as finding experts or celebrities to advocate for a brand, still hold true, but they now play out on a larger and faster scale due to the availability of digital platforms. Brands that can navigate this new landscape and build authentic connections with their customers will be the ones that win in the long run.
Brand Differentiation: Successful brands differentiate themselves by offering unique products or values, staying true to their values, involving employees, and maintaining consistency. Careful navigation of political waters can lead to strategic choices that benefit both the brand and the world.
Successful brands, like Liquid Death and High Noon, differentiate themselves by offering unique products or values that resonate with consumers. Entertainment and social enterprise are effective strategies, but it's crucial for brands to stay true to their values, involve employees, and maintain consistency. Politics can be a tricky area, and brands should consider the potential impact on employees and customers before taking a stance. Long-term commitment to a cause or partnership is essential for building brand loyalty. Brands that prioritize their business fundamentals and align with consumer values are more likely to thrive in the market. It's important to remember that consumers want to support brands they're proud of and believe in. Brands that navigate political waters carefully, involving employees and staying true to their values, can make strategic choices that benefit both the brand and the world.
Brand Consistency and Values: Staying true to brand values and taking a stand, even during controversy, can lead to positive outcomes. Identifying and targeting a specific audience and using them as a 'force multiplier' is crucial for early startups.
Staying true to your brand values and taking a stand, even in the face of potential backlash, can lead to positive outcomes for businesses. Nike, as an example, experienced a dip in stock price after making a controversial decision, but ultimately rebounded and saw increased social media following due to their consistency and commitment to their values. For early startup founders looking to break through and gain attention, it's important to identify and target a specific audience with a unique and interesting product or service, and to use that audience as a "force multiplier" to spread the word about the brand. Brands that don't live up to their promises, on the other hand, risk losing the trust and loyalty of consumers. Jim Stangle, former global officer of Procter and Gamble and host of the CMO podcast, emphasized the importance of understanding your audience and starting your marketing efforts there.
Michigan Reconnect: Michigan Reconnect offers tuition-free community college education, providing an excellent opportunity for individuals to further their education and discover new opportunities
Michigan Reconnect offers a great opportunity for individuals to earn a community college degree tuition-free. This is a solid reason to consider going back to school, despite any reservations. If you're intrigued and want to explore this opportunity further, head to michigan.gov/reconnect to get started. This initiative, sponsored by the Michigan Department of Labor and Economic Opportunity, aims to help people uncover new opportunities and discover where they're meant to be. If you're an Amazon Prime member, you can listen ad-free on Amazon Music. Alternatively, you can join Wondery Plus in the Wondery app or on Apple Podcasts to listen early and ad-free. Don't let any reasons hold you back from pursuing your calling and furthering your education. Fill out a short survey at wondery.com/survey to tell us more about yourself.