Welcome to the Experience Economy

Experiential marketing has been all the rage this year, partially fueled by the growing challenge of engaging hard-to-reach millennials. That said, are branded Ferris wheels really what's necessary to stay relevant? (We’re talking about Snap’s latest ad at Cannes.)

According to recent Eventbrite research, experiences trump things, with 3 in 4 millennials choosing to spend money on an experience rather than a material item. For instance, Americans attend more live events than ever before, looking for that unique authenticity found through in-person engagements.

The millennial generation has effectively changed the game for brands, who have to think more creatively (and authentically) in order to reach consumers and survive. Here are three of the top approaches utilized by brands to make a lasting impression:

1. Host an event. Putting on your own event is a great way to engage your network. Make sure you know who your audience is in order to communicate with them in a way that’s meaningful - and fun.

2. Experiential marketing. While social media engagement and the “fun” factor are great, forgo the Ferris wheel and instead, focus on creating an interactive connection with your audience. Experiential marketing is a two-way conversation and can offer an invaluable space to engage consumers.

3. Guerrilla marketing. Guerrilla tactics are an unconventional, out-of-the-box way to achieve higher impact and visibility at a lower cost. By introducing an element of surprise, guerrilla marketing has high potential for virality, helping to amplify brand engagement both online and offline.

Interested in learning more? Here are 7 guerrilla marketing examples to inspire your next campaign.

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NEED help hosting an event?  

give us a shout!

Draper Nexus InsuranceX Recap

On June 28, members of the insurance community, alongside large and small technology startups came together for the first Annual InsuranceX Series, hosted by Draper Nexus. cred worked onsite to assist Draper Nexus in this invite-only event, with the goal of connecting members of the insurance community to current game changers within today’s tech scene. An early-stage venture capitalist firm, Draper Nexus focuses on enterprise tech and hardware both in Japan and the US.

Tim Draper (Founder of DFJ and Draper Associates) kicked off the conversation around autonomy, in particular how/when autonomous cars will likely shake up the industry for automotive startups and current insurance leaders.

The event also heard insights from Kate Sampson (VP, Risk Solutions, at Lyft) who presented Lyft’s view on the Future of Personal Transportation and even presented Swoop (an emerging startup looking to automate roadside assistance) with a $50,000 check during a Startup Pitch competition. Representatives from State Farm, Farmer’s Insurance, Atlas Financial, Toyota, BMW i Ventures, and Renault touched on the future of personal transit, InsurTech landscape, connected cars as data platforms, and how startups can best work with insurance providers.

In total, over 100 people participated and took away one key element from the day: while making headlines today, the most capable, and consumer-friendly, autonomous car is still quite a few years away.

Need help planning your own event?
Contact events@credpr.com

Branding vs. Marketing - What Comes First?

When it comes to startups, entrepreneurs tend to focus on developing a minimum viable product. Once early adopters' minimal needs are satisfied, the focus shifts to marketing the product in order to grow users.

But what about branding?  

A common misconception is that branding is only about the logo and design. While branding does consist of what the public sees, it’s more about how they perceive. Marketing and branding are not interchangeable, and below is a closer look at what distinguishes the two from each other:

1. Branding is strategic; marketing is tactical. To put it plainly, branding is who you are and marketing is how you build awareness. While marketing focuses on positioning your product or service, branding is the process of building your personality, voice and message into your company’s DNA.

2. Marketing activates buyers; branding creates loyalists. Marketing’s focus is driving user action (e.g. clicking on a link). Branding goes beyond customer acquisition and focuses on turning customers into advocates.

3. You drive your marketing, but customers determine your branding. You hold the power over your tone and content; however, the customer ultimately defines your brand - and their perception of your company influences what they share with their network.

Thus, while marketing and branding go hand-in-hand, branding is what ultimately drives your marketing campaigns and shapes how you do business. Before you make the shift from product to marketing, be sure to consider how you want your company to be perceived, what your vision is and why your product or company exists.

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Interested in learning more about the difference between marketing and branding?

Check out this article.

Speaking 101: How to Keep Your Branding Consistent

“Your brand is your promise to your customer. [It] is derived from who you are, who you want to be and who people perceive you to be."

- John Williams, Founder of CMOsmart

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Whether you’re a VP within a large organization or a small business owner, an effective brand strategy is what gives you the edge in an already saturated market.

Your brand is what lets customers know what they can expect from you. Here, we've pulled together a list of four key elements you need to get the word out and establish a consistent brand:

• Logo. You need a unique logo that won’t need to be changed every year. Once it's perfected, place it everywhere. Note: This may require an investment in time and resources. (Consider hiring a designer to ensure your logo is done correctly the first time.)

• Messaging. Spend time developing your key messages, slogan or tagline, etc. There’s nothing like a catchphrase to capture attention and help customers remember what your company has to offer.

• Templates and standards for marketing materials. To maintain consistency and establish your company’s visual brand identity, use the same color scheme, font, and logo placement on your website, social media profiles, and non-digital assets.

• Voice. Again, consistency is important. Will your brand have a formal, polished tone, or are you more like Wendy’s, whose Twitter account roasts anyone brave enough to take them on? (Looking for more great social media voices?)

While each of these elements is important, your company’s mission is the most essential. Don't sweat the small stuff - like your logo - until after you've properly defined your company’s purpose and have the means to deliver upon promises. There’s no point in developing stellar marketing materials if your services are unreliable.

For more branding rules your company needs to survive, check out this article.

Why Smart CEOs Are Social CEOs

These days, it’s a given that your company needs to have an active social media presence. But what about the members of your C-suite?

A recent Edelman study revealed 78% of the highest-rated CEOs were present on social media channels. Executives like Marc Benioff utilize social media to not only share company updates but also provide insight into aspects of their personal lives.

When used correctly, CEOs can use platforms like Twitter and LinkedIn to expand thought leadership and boost marketing efforts. However, the benefits gained by engaging on social go beyond boosting business. Compared to peers who are not active on social media, Social CEOs are 89% better at empowering others, 52% stronger at communications, 46% more influential, and 36% better at cultivating networks. 

Here are four other reasons why CEOs should make time for social:

1. Connect with customers: Not only does social provide a direct line of communication with those who purchase your product, but it’s a practical way to always have a finger on the pulse of your company and industry. A good example is when Airbnb’s Brian Chesky took to Twitter last year to ask people what they wanted his company to launch in 2017.

2. Build trust: 80% of consumers are more likely to trust a company whose CEO uses social. Think of social as a place to share details that humanize you and prove your accessibility to the public.

3. Strengthen public perception: In the midst of a PR crisis, brands who put their CEOs on the frontlines see a significant boost in public perception. For instance, AirAsia’s CEO Tony Fernandes was lauded for providing updates via Twitter after an AirAsia plane crash in 2014.

4. Create brand awareness: John Legere builds time for social media into his day as CEO of T-Mobile. While sometimes controversial, he’s a prime example of the many ways you can use social to your advantage. He frequently engages in conversations with customers, and his public tweets help spread T-Mobile’s message and set the company apart as the “Uncarrier.”

For more insights about execs on social media, check out thesE articles, here and here.

¡Holy guacamole! cred turns 2

It’s hard to believe, but cred celebrated its 2nd birthday last week!

How’d we celebrate? We started by combining two of our favorite things: margaritas and man’s best friend!

On May 5 (it’s true - our birthday falls on Cinco de Mayo), the cred crew hosted Mutts & Margaritas - a “nacho ordinary” happy hour and bake sale for everyone at 600 California WeWork.

Complete with photo props, custom Snapchat filters, and lots of four-legged furballs, ~120 people attended, making it WeWork’s largest happy hour to date. The team also sold a variety of homemade baked goods and raised close to $200 for a local SF animal shelter, Family Dog Rescue. (Fun fact: Kyle, cred’s Events & Operations Specialist, adopted Seymour, a blind/partially deaf Border Collie, from FDR last year.)

With two successful years under our belt, the party is just getting started!

Cheers to a great team and many more trips around the sun.

Speaking 101: 5 Presentation Tips to Become Pitch Perfect

Whether it's for an intimate meeting or a huge conference, public speaking requires practice, and there is always room for improvement. Fortunately, there are a few tried-and-true ways to get ahead of the game.

This week, we’re taking pointers from Bill McGowan, Founder and CEO of Clarity Media Group, public speaking expert, and author of Pitch Perfect. We recently had the privilege of attending his talk at General Assembly, and also purchased his book!

Our favorite take-aways:

1. Don’t buy time with the phrase: “That’s a great question.” Too often, it’s used to stall or flatter, and people can see right through it. According to McGowan, this phrase is as outdated as telling speakers to envision the audience in their underwear.

2. Vary your delivery. Switch up the 3 P’s - that is, your pitch, pace, and projection. When delivering a key point, help it stick by slowing down, pausing, or changing your volume.

3. Never start your presentation with an apology. Whether it’s 9 am and you’re the first session of the day, or 1 pm and the crowd is in a post-lunch slump, don’t feel like you need to preface your talk with a “I promise to keep this exciting…” or “I just want to take a little bit of your time.”

4. Don't sweat the details. If something happened two years ago instead of three, don't worry about backtracking and correcting yourself. Press on, or you'll lose momentum - and audience interest.

5. Stop wasting time with sign posts. That is, there's no need to begin your talk with a preview and/or give a recap afterwards. As McGowan says, don't tell your audience what you're going to tell them, tell them, and then tell them what you told them. Instead, dive right in!

For more tips, check out Top Tips for Effective Presentations. 

What’s To Come In Digital Marketing? cred Clients Share Their Answers!

Last night, cred and The Commonwealth Club hosted an expert panel discussing what’s to come in the future of digital marketing. Panelists included Ming B. Wu, CRO of MightyHive, Nikesh Desai, CEO of InvestingChannel, Mason Garrity, VP Strategy of 3QDigital, while CPO of LiveRamp, Anneka Gupta, moderated the conversation.

What were the hot topics? The evening’s conversation circled around the past, present and future of marketing, issues around data privacy/intent, and the changing role of the CMO. The panelists agreed that data has become more vital in the conversation: from targeting audiences and understanding their mindsets, to driving content creation itself.

Who are the ones to watch? While Google and Facebook are dominating the space, panelists agreed that Amazon is a key player to watch. “Amazon is very well positioned; if you think about all the data they have, they have a ton of different ad formats they can use. They’re one of the companies that can challenge Google in the search domain as 50% of commercial searches are happening on Amazon.” -  Mason Garrity, VP Strategy of 3QDigital

What’s to come in the next 5 years? Machine learning will likely continue to bombard the market with advancements. As it becomes more integrated, panelists agreed we’ll see marketing become more predictive, rather than reactive, with more ads seamlessly integrated to enhance the consumer experience. Younger generations will also likely grow up interacting with other mediums and realities, so marketers will need to keep a watchful eye on AR/VR to connect with consumers wherever they are.

The panel in its entirety is now available for download via The Commonwealth National Podcast.