President Trump has long wielded the word “Nafta” like an epithet, deriding the North American Free Trade Agreement as the worst trade deal in history.
So when he renamed it the United States-Mexico-Canada Agreement — or U.S.M.C.A. — this week, he may have short-circuited attempts to criticize the new deal. Why? Because the name itself is really hard to say.
Even Mr. Trump, who bills himself as a master brander, appeared to grasp that U.S.M.C.A. was not as smooth as Nafta, saying on Monday that people would make use of the new term “99 percent” of the time. At an event in Philadelphia on Tuesday he poked fun at the name, arguing that it had to be changed because Nafta was so bad for the country.
“U.S.M.C.A. Like Y.M.C.A., or United States Marine Corps with an A at the end,” Mr. Trump said. “I like the way it sounded.”
He is largely alone. While reviews of the trade deal itself are still coming in, the name itself has gotten a resounding thumbs down.
Top Trump administration officials have stumbled over the agreement’s shorthand, which linguists say is tricky to verbalize because it is an initialism rather than an acronym, like Nafta, which slides off the lips like a word.
Speaking to reporters outside the White House on Tuesday, Larry Kudlow, the director of the National Economic Council, made clear that he was still coming to terms with the new name while espousing its many virtues.
“The North American deal — the U.S.A. — uh, uh — got to get this right — U.S.A.M.C.?” Mr. Kudlow said.
Dean Crutchfield, a branding and marketing strategist in New York, said that since the name was officially being changed in the text, it would probably take hold, as long as the news media used it.
“I think the more people see it, the more they will get accustomed to it,” Mr. Crutchfield said.
Should Elon stay or should he go? That is the question we discussed on CNBC Power Lunch. The issues facing Tesla are like a spreading sore. Trust has taken a major battering.
There is a dysfunctional dynamic at Tesla. Leadership is to help people develop beyond their dreams and hold their fears. Elon has been weighed, measured, and found wanting.
Shareholder value is not a strategy it’s a result. One thing is for sure the Tesla brand can be stretched beyond cars, trucks and lithium batteries. Other automakers cannot. Should Elon be running the day to day or should he be focusing on those bigger bets? Here’s the segment.
Was Build a Bear’s “Pay your age” a success? It certainly garnered substantial media coverage. What can retailers be doing about standing out in the crowded market with marketing that’s sustainable?
Here are some thoughts I shared with China Global Television.
We all receive over 3000 images a day from logos, ads, signage, promotions, packaging along with a hoard of everything else we see online and off. But when you’re in a store you see over 300 commercial images within a rapid timescale that leads to 75% of purchasing decisions being made at shelf! From 28 blinks a minute, you go to 17 blinks a minute. A captured consumer! You’re focused, in the moment, editing the present.
But online shopping sales continue to grow at an exponentially faster rate than in-store sales. 51% of Americans prefer to shop online so the old strategies of simply having a good location or putting up flyers or ads in your local newspaper aren’t going to cut it anymore. How do you get people to the store and why should they care. Here are 14 thoughts and examples.
Retailers need to break with stale gender stereotypes in their advertising. Demand that is largely driven by millennial and Gen Z consumers – Stop n Shop’s new ad campaign is a great example
- 50% of your store visitors may not have any deeper knowledge of or prior relationship with your brand. And you only get one chance at making a first impression
Target and cater for men – Kroger
- Give Shoppers a Reason to Visit Your Store – H&M
- Sales Triggering Signage – Timberland
- Instill a Sense of Urgency – Saksofffith.com
- Check-Out Convenience – BestBuy
- Don’t Forget to Be Locally Relevant – Nike Flagship stores
- Celebrate All the Little Holidays
- Get Creative with Video – Dollar Shave Club
- Create Returning Buyers through Smart Remarketing
- Use Social Media Targeting Capabilities to Your Advantage
- Run Beautifully Executed Google Shopping Campaigns –
- Invest in Some Guerilla Marketing Campaigns – McDonald’s
- Try Podcast Advertising
- Understand Your Seasonal Peaks and Plan Accordingly
#1: Run Beautifully Executed Google Shopping Campaigns
- Google Shopping campaigns allow retail marketers to sell their products directly through the SERPs (Search Engine Results Pages)
- Organize Shopping Campaigns by Best-Selling Items. Grouping together your best sellers will help you capitalize on online sales
- Ensure Your Ad Images are High-Quality and Crawlable
- Include Merchant Promotions and Product Reviews – add tags like a special offer
#2: Give Shoppers a Reason to Visit Your Store
- Retail marketers desperate for more storefront traffic need to start giving their customers a reason to come in
The store stands out from its surroundings, catches the consumers’ eye and inspires them to cross the street and enter the store
- By creating new window campaigns every few weeks, brands aim at generating regular visits from the window footfall
- Perhaps you have a special in-store discount for shoppers. Lululemon is constantly convincing me to come by their stores with their free yoga classes
Brands like Superdry, Desigual or H&M prove regularly that luxury is not a precondition for standing out
- If you don’t spend on any advertising, only your window is left to create in-store traffic. Inditex does so, and the result is strong product windows. Lacoste is an example to show that it doesn’t take fancy collections to create strong windows. Tommy Hilfiger is an example of aligning window campaigns with merchandise planning
# 3: Sales Triggering Signage:
#4: Check-Out Convenience
#5: Use Social Media Targeting Capabilities to Your Advantage
- Platforms like Facebook, Instagram, and Twitter make it absurdly easy to find and get in front of the people most likely to buy your products
#6 Target and cater to men
- Grocers are rolling out sausage, beer stations to lure men
- Hy-Vee and Kroger are stepping up their “male-centric amenities” — introducing gourmet sausage stations, “beer dens,” meat and beer pairing promotions, men’s facial care lines and more
- Men also are more likely to purchase impulse items, so putting novelty products on display can lead to a higher ticket
#7: Don’t Forget to Be Locally Relevant
- 300+ retail and brand logos, VM messages within just 3 hrs of shopping
- Ad copy and imagery
- Local lingo
- Commercial Flagship Retailing – Nike
#8: Invest in Some Guerilla Marketing Campaigns
#9: Try Podcast Advertising
- 67 million Americans listen to podcasts monthly
#10: Get Creative with Video
#11: Celebrate All the Little Holidays
#12: Instill a Sense of Urgency
- When you instill urgency into your marketing messaging, your audience feels the pressure and is more likely to give in and make the purchase now
#13: Understand Your Seasonal Peaks and Plan Accordingly
- This includes things like adjusting ad spend, working with design for new creative, and executing seasonally relevant campaigns that will boost sales during these peak times
#14: Create Returning Buyers through Smart Remarketing
- Remarketing allows you to remind shoppers that they should buy your products
Did you know that in the famous blind tastes back in the 80’s Pepsi in their core research and their iconic “Take the taste test” advertising campaigns used 1-ounce cups and people preferred Pepsi over Coca-Cola? But in real life, people found 20 ounces of Pepsi to be too sweet and preferred Coke.
Lesson learned. Do your customer research.
As more men do the household food shopping, grocery stores roll out guy-friendly amenities and rewards like beer dens, butchery classes, gasoline discounts, and dad-humor signage. Read More.
Given what has happened in the US, where hundreds of department stores shuttered their doors last year who would want to be a retailer now? We used to quip that when the going gets tough, the tough go shopping but that has collapsed with the latest set of grim retail sales data.
After a grim December, many pundits had been ushering a bounce back, but the figures showed that consumers were not as robust as they once were and the retailers will have to face a painful long-term slowdown. Who is to blame?
Real wages are declining real wages and shoppers are being hit by high levels of consumer debt and the likelihood of higher borrowing costs. But the wider problem is a dramatic shift in the way consumers spend their dosh. There’s been a tectonic shift in the way we spend our time and money. Leisure, travel, social media, eating out, eating in – using subscription and delivery services – and technology are all taking time and Luca that would once have gone straight to the tills of retailers.
This trend boosts Amazon but it is threatening big-name retailers and forcing a rethink about how retail will look in years to come, and what might be done with retail parks and malls when retailers shut up shop and physical retail space becomes redundant. Amazon might be at fault but consumer behavior is also to blame!
From malls through to main street, experiences need to be enjoyed that can’t be at home – from game centers, climbing walls and crazy golf to bras, restaurants, pop-up markets and food stalls. New start-up retailers are emerging from vape shops to ice-cream parlors. Even Microsoft and Dyson are planning stores following the example of Apple.
To compete with the scourge of online shopping, malls, and high streets may have to offer short leases, pop-up spaces and farmer market-style events to bring in smaller businesses that cater to younger people who demand more authentic and local experiences. If retailers are unable to lure shoppers back they will die within the next 12 months or struggle to find the investment needed to survive. But the future of retail is not solely the responsibility of the retailer – it’s the responsibility of the consumer! We just don’t know it yet.