Marketing
Ben Bensons’ Steak House and the Man.
Ben Benson is a New York steak house legend and a very smart businessman. Talk about personal branding? Ben and partner Alan Stillman double handedly invented the “singles scene.” Friday’s, on the upper east side of NYC, was the branded place to pick up members of the opposite sex when it first opened. The bar and its sister bars Tuesdays, Wednesday and Thursdays, which didn’t fair as well, eventually evolved into the TGI Friday’s chain, now with different owners.
Ben and Mr. Stillman parted ways with Mr. Stillman becoming a corporation, a publically traded company (I think) with lots of restaurant properties around the city and country. Ben stuck to his knitting, stuck to his store (123 West 52nd Street, NYC, “I think you’ll love it.”) and has built a brand the old fashion way: One steak at a time. Mr. Benson, who has had some health problems (Who wouldn’t being surrounded by sirloins all his adult life?) has outlived many peers in the business world. Literally and figuratively. Thousands of captains of industry who used to dine at Ben Benson’s ordering $400 bottles of wine are long gone and forgotten. Not Ben.
A Marketing Lesson.
I once told Ben he should give away umbrellas on rainy days to his best guests who had been caught unaware by the weather. (Ben has a wonderful, striking logo.) The umbrellas cost about $19.00 a piece and would be walking billboards around the city I told him. “You know how many steaks I have to sell to pay for one of those umbrellas?” was his response. “My steaks are expensive — I only make about 2 dollars a steak. I’d have to sell eight steaks to pay for one umbrella.” The lessons I learned from Ben resound. When I ask clients to spend their money I think of steaks jumping across plates and it grounds me. Ben is a Harvard Business Review case study. Study him. (But buy a steak first.)
Apple…Coolest Brand on the Planet.
Apple’s App Store is the most successful store ever built. It’s exciting because it was built without hammer and nail, it’s only 9 months old, has 1 billion downloads, and is really just a drooling, cooing infant. I remember posting 10 months ago that Facebook had better watch out for the App Store because all developers writing apps for Facebook (for free) were going to drop it like a bad habit in favor of the App Store, where they would be able to make some Benjamins.
The App Store doesn’t have many employees — thank you software — and is the source of the most exciting innovation in all the world. If Apple isn’t the coolest brand on the planet, I don’t know what is. No sugar water here. Peace!
Feets Don’t Fail Under Armour Now.
Under Armour is introducing two new sneaker designs (May I call them sneakers?) this week in an attempt to increase its share of the $22B athletic footwear (sneakers) market. A market, by the way, that was only about $3B in 1993. The TV campaign handled by Twofifteen McCann and Digiteria for digital offers a lot of smart tactics: the director of Friday Night Lights, a YouTube takeover to reach the younger buyers, limited distribution to build demand, Cam Newton, and an idea that ties sneakers to sports action – Footsteps. As smart as these tactics are, they feel like a pastiche of forced-together marketing tools from an Effie Awards Annual. I suspect they will work, however.
First and foremost though, one must ask if footwear is a business Under Armour wants to be in. I say no. And I’ve said so before in WTI. Sunglasses? No as well. UA founder Kevin Plank, in his heart knows this. He owns a franchise that is now being diluting. You can’t keep sticking the same tea bag in new water. The company already owns fast twitch muscle, form fitting wicking shirts but will lose that ownership as it takes its eyes off the ball. Wicking sneaker tops? Not so sexy. Lindsey Vonn. Oh yeah.
Mr. Plank’s next move should be into form fitting shorts and shirts for the fashion conscious market. Leave the kicks to Nike. Or start a new footwear endemic company This is one brand extension that might sell some shoes near term, but is going to turn Under Armour into a brand in decline overall. And it’s sad. Stop playing with feet! Peace.
(Picture from NY Times.)
The Future “That’s Right” For Newsday.
The world’s simplest video recorder will change the world.
Strategy-Production. What’s in the bag?
Adrian Ho made an insightful observation yesterday on his Zeus Jones blog (Does anyone else type “blob” accidently?) about the different marketing functions of strategy and production.
He wrote “There are, of course, fairly significant business-model barriers in bringing together these two different kinds of skills in a company. Production skills are often billed on an hourly basis, while strategy is typically priced based upon value. However, I think that the more difficult barriers are cultural. These two archetypes have historically been polar opposites and simply putting together people who embody one aspect with people who embody the other is a recipe for disaster.”
Mr. Ho is focused, I suspect, on digital production in his piece because he discusses social media but this strategy and production yin-yang (pronounced yong) extends to all customized creative forms. It’s the reason account planning was developed in the advertising world.
I’m working with a jewelry manufacturer who creates custom pieces. The model maker rarely sees the customer. The input for the piece is handled by a designer who gathers from the customers: pictures from magazines, drawings, descriptions and memories, all of which are put into a little bag with some notes and sent into the back room. Producer-strategist.
The companies with the ability to translate strategy into elegant, compelling production create the best work. When trying to determine good marketing partners from bad, the questions one should ask should relate to this very process, but most don’t ask about the nexus of strategy and production. They ask “Tell me about your strategic process” or “May I see your work?” Frankly, the magic happens in the hand-off. In the case of the jewelry company you need to see what’s in the bag.