Gen Z entrepreneurs are digital natives with the ability to communicate their ideas through social media and sell their wares online. As these teens and their businesses and spending power grow, there are signs they may influence the way traditional retailers operate. According to Gutfreund, there is “a bit of a perfect storm” that has forged this trend. Gen Zers grew up experiencing the Recession, 9/11, and a different sort of parenting from their Gen X moms and dads, who consider it more important that their kids be resilient than feel special. The kids also are smart about technology because it’s always been part of their lives.
CRMC Newsletter Feature Stories – 2014
Two acts of corporate kindness hit the news last week. Both resonated, quickly becoming viral online and hitting the mainstream news. Acts of kindness are powerful. They resonate with your customers and have the potential to create a huge ripple effect through social and mainstream media. Actions speak louder than words. Eighty percent of our judgments about people, companies and brands comes down to two factors: warmth and competence. Are you willing to go above and beyond the transaction to create a Human Brand?
Douglas Van Praet reminds us that human decision-making happens at a level beyond conscious thought and outlines some of the surprising, hardwired human drives that drive decisions, and an ad’s success. There are patterns for effectiveness in our markets and culture because there are hardwired patterns in our nature and our brains. But there’s a gap between what scientists say and what marketers do. Strategies remain based on insights into markets, not truths about neurobiology. If we want to be experts in connecting emotionally we need to know what that actually means.
The ouster of American Apparel’s controversial CEO has overshadowed the fact that the chain, with its soft-pornesque brand equity, has been striking a sour note with shoppers. But American Apparel isn’t the only racy retailer struggling of late. Sales at teen chain Abercrombie & Fitch and fashion retailer Bebe Stores, which peddle sex one way or another, are falling, and management is in flux. It appears that when it comes to fashion retailing, sex just isn’t selling these days.
Though “The CMO is dead” is an attention-grabbing title, it’s a bit misleading. The CMO is not dead; the position is simply regressing to its original purpose — customer engagement. The combination of new technology solutions, hard data, and numerous channels of engagement has led to much deeper levels of customer intimacy. And, with an increased ability to measure the outcomes of marketing activities, CMOs are demonstrating their value like never before.