Lamb's Marketing Resolutions for 2014

New Year, New start? 2014 is already shaping up to be a big year so we've come up with a few Marketing Resolutions for 2014. Advertising  Profiling your brand by print advertising is as old as the hills and increasingly many now overlook it. However in this era of digital communication and online social sharing, there are a myriad of new ways to advertise your brand, services and products in innovative and creative ways, which really should not be forgotten.

Branding 2013 saw a number of financial brands put through the mill and their customer loyalty severely tested. 2014 needs to be a year of confidence building from the ground up – enabling the people who power the business to feel empowered. Inspiring change and a focus on your ‘own’ strategy will lead to clear market position. In conjunction with right nomenclature and engagement values, this will help to lift organisations, products and services to a new level. Customer engagement and peer review is more important than ever for the brand and organisations must look to embrace the strong customer influences of the digital world and social media.

Consultancy How about making 2014 the year of real customer focus, where marketing priorities and the products and services you market for your business are driven by customer insight? The opportunity to move away from the ‘darkened room’ approach and to give your internal thinking the acid test of customer and distributor scrutiny is challenging, but offers the potential for you to get ahead of the game, upgrade your propositions, and reap the rewards as a result.

Events/Exhibitions  We think that an area that our clients need to improve on this year is how they calculate the return on investment from their attendance at exhibitions. The only way that this can be achieved is by setting some objectives before the event, and then measuring against them afterwards. Gathering a pile of business cards and then storing them in a drawer is not acceptable.  By utilising digital tools it is easier to establish engagement numbers during the event by capturing data, and then using this to follow up with prospects and clients. Engagement and design are still important factors, but are almost worthless without measurement.

Print Print is not dead. While many may think print is a thing of the past, there are many practical uses for print media in today’s digital world. Print has been around for thousands of years in one form or another and print will continue to be an important part of society for years to come.

Reputation Management In the financial services sector, trust is key, therefore how your business's reputation and those of the people working within it are perceived externally is everything. Make sure in 2014 that you take control of your reputation in everything you do and say both externally to your clients old, new and yet to be, as well as internally, ensuring your staff feel included, energised and ready to give their best.

Social sharing Content will be crucial in 2014, if you can publish content that helps your clients meet their day-to-day challenges then it becomes instantly shareable across social media. B2B companies that blog generate 67% more leads than those that don’t (Business 2 Community), so make 2014 the year you use social media to demonstrate the wealth of knowledge within your organisation.

Websites Your resolution for 2014 is simple. Ensure that your website offers a good user experience and has an immediate impact to create the right first impression. To achieve this it needs to provide clear navigation (don’t make users think!), work on mobile devices with a responsive design, and show what sets you apart from the competition. More often than not this is the people within your business. Think about adding a contact directory with engaging profiles, producing quality video content or publishing regular commentary on the issues affecting your clients. Value adding content continues to be key.

Our social media predictions for financial services in 2014

It's no secret that over the last couple of years Social Media has become inescapable. 2013 saw the growth of Twitter hashtags across all media - from TV adverts to billboards! And it's not just Twitter, we've seen increased use of Vine (video), Instagram (photos) and other more creative forms of Social media being used commercially. So if 2013 was all about the growth of creative material being developed for social media then what will 2014 hold?

At Lamb we believe the integration of social media channels into all forms of marketing and advertising will continue. Campaigns will become more sophisticated through being run across multiple channels simultaneously. The Xuber brand launch and AGCS Cyber Protect product launch showed good examples of this in 2014.

Further to this we believe that a wider sphere of the financial service industry will embrace social media this year. Financial Advisers and Investment Professionals look set to close the gap on the Legal and Insurance industries. The fear of interacting with financial service brands online or displaying an opinion is subsiding as people's understanding of the channels develops.

Finally we see 2014 as being the year of professionally created video content. The use of video from a marketing and public relations point of view came on leaps and bounds in 2013, with a wealth of content being developed by companies of all sizes. Unfortunately a large percentage of this content was not fully thought through and produced with poor sound and lighting, a rushed delivery or even an ill advised choice of tie. We believe that video is a hugely important tool in the marketing kit bag but it has to be well produced with value adding content in order to boost a customer’s perception of your brand. Anything short of this risks doing more harm than good.

If you agree with our predictions or have some of your own we'd be very interested to hear from you. Let's start 2014 as we mean to go on and continue the conversation on social media. You can find us here:

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photo credit: Jason A. Howie via photopin cc

Is Instagram suitable for B2B brands?

Instagram may be growing as a marketing tool for B2B financial service brands. Instagram defines itself as a “fun and quirky way to share life with friends through a series of pictures. Snap a photo with your mobile phone, then choose a filter to transform the image into a memory to keep around forever. We’re building Instagram to allow you to experience moments in your friends’ lives through pictures as they happen. We imagine a world more connected through photos.”

It has a large number of strong communities focused on specific interests and locations. These communities are willing to engage with brands as long as those brands understand the platform and behave as the communities expect.

Whatever your industry Instagram could play a part in your marketing and communications strategy to help clients and potential clients discover more about your business. This may be around the products and services you offer, the personalities and expertise of your employees or events, conferences and exhibitions that you are attending and participating in.

Instagram in numbers:

  • over 150 million users on the platform, 16 billion photos shared, and 1 billion likes happening each day
  • 22.4% of the Fortune 500 have Active Instagram Accounts. With the platform being launched in the USA first, American brands are ahead of UK and European businesses
  • compare that to 387 of the Fortune 500 having Twitter accounts and 348 out of the Fortune 500 that have Facebook pages. While not as mature, Instagram is growing very quickly among the Fortune 500
  • in terms of managing expectations it was found that for every 33 likes you get 1 comment on average
  • among the F500 brands there is on average 18.54 likes per photo per 1,000 followers

Sources:

http://blog.bufferapp.com/instagram-stats-instagram-tipshttp://info.trackmaven.com/fortune500-instagram-report (provide your details for the free report)

And the winner is...

Many of you will know that for a few years now Lamb CMC have created the theming for Post Magazine’s annual British Insurance Awards. Seeing this year’s shortlist being published always gives us here a timely reminder of what a great event this is and how the reputation of winning a “BIA” have helped drive some stellar work by all those who feel it worthy of submitting their efforts for stringent, objective and external scrutiny. As a business that has the word brand at the spiritual heart of everything we do, we take our collective hat off to all those that made this step and would congratulate them in equal measure as those that have been shortlisted and the eventual winners. Within the insurance industry “brand worth” is something that is sometimes not properly understood or appreciated to itself, but the metrics that define it are. It is a sector that is utterly driven by reputations at the corporate or personal level founded upon trust. Another word for which could be truth and it is the ability to show this across the business and more importantly deliver it in its service offerings that truly define a real winner.

 

When we look at a business’s brand, we look to four key facets that we believe define it:

Authenticity – How ‘true’ does the business remain to its original vision

Compelling – What emotional connection does the business make with its clients

Distinctive – How different is the business to others/competitors

Excellence – Does the business offer any unique service or skill and is it good at it/a leader

 

To us a good brand has to deliver on all four. Any failing within any of these can, in our mind, cause an imbalance that will mean the business will never reach its full potential and stand out amongst a “Night of the Champions”.

Craig Freeman interviewed by Insurance Age about social media

Craig Freeman, director of digital services at Lamb and brandformula, was interviewed today by Insurance Age about social media engagement in the insurance industry.  Read the article below to gain an insight into his expert thoughts on the topic.

Craig Freeman, director of digital services at brandformula has revealed that he has seen a “huge sea change” in the way brokers engage with social media although he is yet to experience chartered brokers using it to promote their status.

Mr Freeman, told Insurance Age: "In the last 18 months we have had a broker get in touch every other week asking us to come in and talk about digital which is a huge sea change from just over three years ago."

According to Mr Freeman, an expert at the specialist B2B branding agency which has a particular strength in financial services marketing, in the past brokers were worried about finding out what was being said about their companies on social media because the bosses may not be pleased.

"It [the change] has been driven by the smaller brokers initially who were willing to take a little bit of risk," he claimed adding that the two most relevant avenues from a professional stand point are Twitter and LinkedIn.

LinkedIn

"LinkedIn is an extension of the traditional way of doing business [such as] networking and shaking people's hands," explained Mr Freeman. "It is the relationship they have offline in an online environment."

He listed the reasons for brokers to connect on LinkedIn as including getting involved in groups, professional development opportunities and the chance to associate with their peer group to share ideas and insight.

Turning to Twitter he said: "If they [brokers] have got good content on their website and have people in their business who want to communicate then Twitter is brilliant.

"But our advice is always to focus back on the website."

Two potential mistakes that Mr Freeman has seen are having out of date content or too basic a homepage whereas he advocates that the call to action on Twitter should be to visit the website.

One way that he suggests brokers can generate interesting, engaging content on their website is through a weekly staff meeting.

He recommends that staff highlight questions they have been asked that week or articles they have read which they have found thought provoking. In turn the company should generate a 300 word blog for specialists to distribute on social media.

Massive time waster

"Social media can be a massive time waster if they [brokers] are not doing it in the right way," he pointed out.

"I know a lot of brokers who have spent an hour on Twitter and haven't talked to anyone useful or posted anything of use."

An area of social media that he sees as coming back into fashion for the right sort of brokers is Facebook.

"Lot of brokers are getting more savvy with the content," stated Mr Freeman.

It has been a notoriously difficult platform to sustain with interesting and engaging content and certainly will not be right for every broker. His advice is to make sure that "there is an underlying education message as well as the value adding entertainment area which is what drags people in on social media."

Chartered opportunity

However for chartered status it appears there remains more opportunity than delivery.

Mr Freeman admitted he had yet to be asked to promote chartered status although he has proactively told chartered clients to use it to their advantage, particularly on LinkedIn.

"If you do have chartered status tell people and make people it is on there [LinkedIn]," he urged.

"Things like LinkedIn are your shop window and what people will see first.

"The more you can do to show that you are professional, credible and knowledgeable the better and chartered status is part of that."

See the article on the Insurance Age website.

Our sister company is placed in top 50 marcomms agencies

We'd like to say a big congratulations to our sister company brandformula for their recent placement in the 2012 B2B marcomms agencies league table.

Given that these figures are prior to our merger, coming in at an outstanding number 32 demonstrates how we are now able to maximise the combined experience, skills and resources of a larger specialist agency as well as bringing together our own ways of working with our clients.

Here's looking to next year...

See the full article here.