When I started out in advertising, I did cold-calling for an agency’s sales team. I spent most of my day trying to get decision makers on the phone and listening to excuses and reasons why they didn’t need a digital advertising agency. I learned a lot about the misconceptions surrounding advertising that are not only untrue – but could actually be very bad for business. By far the number one excuse for people who didn’t want to do digital advertising was. “I just paid for a great new website,” Or some variation on that.

1. I just paid for a great new website

Having a nice looking website is great and it’s a necessity for doing business these days, but the truth is that if you rely on just a great website for your online presence, you are likely wasting your money. Having a great website is useless unless you do something to draw people to it. You can do more with a plain website, a great SEO presence, and a Facebook/YouTube campaign then you can by just pouring money into a website with tons of Flash and videos.

2. We’re a small business and we’re never going to have the budget to compete with bigger companies.

That’s another one I heard at least once a day. Of course if you have 2 pizza places that are successful you’re still not going to spend hundreds of millions or get a Super Bowl ad. But your Facebook advertising cost the exact same as Pizza Hut’s. Dominos spends as much on Twitter as I do ($0.00) every month. And you can by a video camera and post YouTube videos just as easily as Papa John’s can shoot and post a viral ad. You have just as much of a chance of catching on with your video as they do. That’s the beauty of the Internet; great ads have a way of catching on like a blaze of fire regardless of who made them.

3. Our audience is older and doesn’t use the internet.

That might have been a good excuse ten years ago but the facts show that more and more older people are using the internet for online shopping, keeping in touch with friends and family, and shockingly enough podcasts. With phones and TV connected to the internet becoming standard, and sites like Netflix making is easy and convenient to get movies major companies have started gearing some of their advertising to the 55 and over crowed. Even Facebook has started promoting itself as a place to keep in touch with your kids and grandkids showing that advertisers are taking older people surfing the net very seriously.

4. I’m trying Facebook and I don’t get a lot of fans.

This one is a big one that I dealt with just this last week. Business to Business pages don’t get a lot of fans. If you look at an owner or manager’s personal Facebook page you don’t see a lot of fan pages. The numbers you should be looking at are the ones that Facebook is kind enough to send you in an e-mail once a week. If you are the admin on a page you get metrics that say the number of visitors and how it’s changed since last week. Facebook knows that those are the numbers that ad agencies and marketing managers really want to see. They don’t tell you just who clicked the fan button. They tell you how many people took time to look at your page and those are the number that really matter. Don’t get hung up on the number of fans.

Ultimately, getting to the meat of what is true and not true about social media (and understanding the value of digital agencies) is really a question of doing the costs/benefits research and finding someone who is trustworthy to service your online marketing objectives. So, the next time a kid calls, trying to set up a pitch for a digital agency, keep an open mind; he could be your company’s next big thing!

www.g4commerce.com/all-the-cool-kids-are-doing-it/
www.socialmediaexaminer.com/4-facebook-marketing-myths-and-how-to-overcome-them/

www.silicon.com/technology/networks/2003/11/14/old-people-like-the-internet-39116903/

www.sciencedaily.com/releases/2009/06/090610074159

www.toprankblog.com/2010/06/content-marketing-curation-context

Threadless was started in 2000 with the prize money from a t-shirt design contest and has grown into an online retailer with a huge cult following. They’ve managed a social media following on par with major retailers without major advertising dollars. One way they’ve managed a fiercely loyal fan base was by promoting themselves as a major hub for fan interaction. At the onset of their launch they advertised a massive promotion that got people to create their own t-shirts. That initial investment paid off and they instantly became a place to buy and create fan made merchandise.

The general rule I follow with consumer based social media advertising is that the most you can expect to get is roughly a third of your core audience on your fan sites. (i.e. If you sell 150,000 TVs, you can’t really expect more than 50,000 Twitter fans.) Threadless (twitter.com/THREADLESS) has roughly 700,000 loyal customers according to their latest numbers, but they have 1.5 million Twitter followers. They’ve conquered Twitter by making sure it is the place to find out about all their latest promotions, contests, and sales. Looking at their Twitter page, it’s clear they haven’t forgotten what put them on the map. They build their Twitter around their followers and make sure to answer all questions and return comments. Even though they have 1.5 million followers ,it feels like you’re part of something small and intimate.

As I’ve said before, great companies use social media at all levels. If Threadless had seen their Twitter blow up and said, “That’s enough” they wouldn’t be so successful. They went on to develop a comprehensive Facebook page (www.facebook.com/threadless) that complements their Twitter ads nicely. They do Facebook-exclusive contests and promotions and constantly change the look of their page based on what new brands the company is promoting. They also use Facebook to showcase photos of products and events they sponsor to show that they are the hip place to be. Threadless has the kind of advertising campaigns that Ed Hardy and other small press clothing retailers can learn from.

If Threadless proved anything it’s that if your going to start an independent retailer online the launch is a major part of the advertising campaign. Runka Green Products (twitter.com/recycledstuff) took this lesson to heart by launching a massive campaign centered on an Earth Day online store opening. Even though they’ve only been around a few weeks now they have managed to steadily build a loyal group of over 700 Twitter followers. That’s very good for a company less than 3 months old. (Once helped launch a product line via Facebook and we were ecstatic when we got 35 fans our first 2 weeks) Runka took advantage of the huge audience that is online and into green products by creating a Facebook Application. (an inexpensive way to get people talking about your products. )

Runka also realized the value of constant updates to your Facebook and Twitter feed especially at the start up period. Just like writing letters if you don’t write them, people don’t write back. If you don’t tweet or post you won’t get any followers. Sure you might feel silly for a few weeks sending a message to 10 people but in the end those 10 people will build you a following. Any company from Runka the Threadless had 10 or 15 followers at one point but those followers soon turned to hundreds and for some, they have hit millions.

apps.facebook.com/blognetworks/blog/runka_green_products?_fb_fromhash=82444f3773bc8a8e6434ac611b474df8&ref=mf

www.marketwatch.com/story/nt-media-launches-social-media-channels-on-twitter-and-facebook-2010-06-10?reflink=MW_news_stmp

www.allfacebook.com/2010/06/facebook-myths-rumors/

One company that does a great job of using Twitter as a launch pad is Kraft Foods. They made their subsidiary, Degiorno Pizza, one of their top selling brands and they used their twitter following to make it happen. Kraft’s major Twitter campaign included organizing launch parties around the country for its latest product. All it really cost them was time and they had instant access to fan feedback and fan generated content. And this was before the product even went on the market. They used Twitter to create a decent buzz and it paid off – big time.

One thing social media does is level the playing field somewhat in industries that normally take millions of dollars to launch new products. The Powermat is a neat little device that lets you charge your gadgets without a cord. They were smart enough to know that they should launch their product through social media websites like YouTube and Facebook because they didn’t have the money to compete with Sony, Apple, and other companies on a national level. On YouTube they could get their name out and tap into their niche market without a huge advertising budget.

“But it’s easy for electronics companies to launch products online because their audience is already there,” you might say. (If you are saying that you’re probably talking to yourself and you have a more serious problem then online advertising) My answer to that is two surprising words “Louis Vuitton.” Louis proves that even a company that’s been around for 150 years can still learn a new technology. Louis makes sure Twitter (twitter.com/louisvuitton_US) is the place to be for news and new product and store launches. They make sure their Twitter is an invaluable resource for people looking to see their new products.

These companies had successful product launches via the internet and there are a few things you can learn from their example. First of all, like all kinds of social media advertising, if you are too pushy you’re going to lose your audience. The great companies that launch things via the web tell a Story about their product and nudge followers in the right direction. Make sure to ask them questions about what they want and what they think and stimulate conversation about the potential new product. Kraft understood the value of fan generated content and it drove them straight to the top.

Build a mailing list. A great way to capitalize on your pre-launch buzz is to start an e-mail campaign. Sending your followers email updates is a good way to really create a big opening.

Mail out an invite to your opening that leads to your Twitter on the big day of your launch like Kraft, or you can start a fake launch party that encourages people to tweet about your product or chat on your message board during the big day. A mailing list is also a great way to send some coupons and reward loyal followers.

If your kids are about to go to the dentist for the first time, do you tell them as you pull up to the door or do you talk to them about it first to make sure they know exactly what’s going to happen? Unless you enjoy seeing your kid cry, I’d imagine you’d choose the latter. The same principal is applied to launching a new product. The earlier you start preparing people, the smoother the launch will go. Drop hints and ask questions from your audience about what they would do with similar products. You want people to know exactly what they are getting into before the launch date, right?

Speaking of starting early, Gillette just started a campaign for their new Razor, the Pro-Glide, using YouTube to launch a contest. It’s already gotten some great buzz and built up a message board with over 500 comments and it’s still got some time to go before the new product launch. On top of all that, launching via social media is a great way to funnel people to your web site homepage. In the end a product launch via social media can lead to some measurable consumer interest online and offline. If you just make sure to create some buzz and build fan generated content you can have a highly successful launch campaign without breaking your ad budget.

www.twitip.com/how-to-use-twitter-for-a-product-launch/

www.virtualassist.net/blog/using-social-media-for-product-launches.html/

www.amymengel.com/2009/08/anatomy-of-a-social-media-product-launch-screenr

By blowing open the online music scene, YouTube has given themselves an upper hand on their competitors like Hulu (who already recently shot themselves in the foot by announcing they will start charging for parts of their site but that is another article here) Having the extra traffic that goes with it makes YouTube’s stats skyrocket above the competition. YouTube could find itself eclipsing Facebook and being second only to Google as the most visited site on the internet.
Being the most visited site for music on the planet gives YouTube some leverage in one of the areas they have struggled in over the last few years, licensing agreements. It’s already started when they struck an agreement with Disney to launch their new musical acts that resulted in the success of people like Justin Bieber. Now that YouTube actually has a massive fan base some of the companies that rallied against it are soon going to be in the position of having to play ball.

Looking forward, YouTube needs to do all they can to make sure people know they are the place to launch new bands and music. Getting this title was hard enough but, as MySpace can attest to, keeping it can be a precarious undertaking. One step they should take is to utilize iPhone and mobile apps. They’ve already started a partnership with Vivo but they need to go further. One reason MySpace lost this title was because they didn’t expand with the technology. YouTube should learn from their mistakes and the mistakes of other companies too. If you can learn from other companies’ marketing mistakes then you have just given yourself a huge advantage.

So the question remains – where does this leave MySpace, the internet’s equivalent of last year’s toys? Even though they’ve been struggling to stay relevant in a crowded social media and internet marketing scene, they are still a potentially viable commodity and a mainstay on the top 150 most visited websites; that at least means they have a following to build on. So why is MySpace in such a decline?

I think the biggest reason is that it was overrun by robot advertisers and fishing scams. It became next to impossible to separate who was trying to get you to listen to their band or sell you something legitimate and who was just trying to get your e-mail address for their mailing list. One of the things that made Facebook great is that they have things in place to prevent robot messages. (Some people think they do this at the expense of privacy laws but I don’t see that as a problem) Twitter and even YouTube need to watch out for this because even they are starting to slip.

Ultimately if MySpace is ever going to return to its former glory it needs to clean up its network and get rid of all the bugs and bots. Make it what it was before it got watered down, a place to find the latest trends, music, movies, etc. Promote it as a network for people who don’t want to be bombarded with invites and cheesy games. Make it a place people want to go to promote their material and visitors will follow.

In the end what you can take away from this is that internet advertising is a constantly changing life form that has to be looked at 24/7/365. It doesn’t matter if you have one of the most visited websites on the planet or a few thousand followers if you don’t grow your presence and keep up with changing trends you could find yourself being passed over…but, hey!, no pressure.

paidcontent.org/article/419-youtube-v.-myspace-music-what-a-difference-two-years-makes

techcrunch.com/2010/05/12/youtube-vevo-team-to-stream-the-national-concert-more-events-in-the-works

http://stairwellblog.com/?p=2321 For being such a large city Chicago hasn’t really gotten a good comic book convention in a few years. Even the one that was an annual mainstay at the Rosemont Convention Center has since fallen to the wayside. So how did C2E2 (Chicago Comic and Entertainment Expo- www.c2e2.com) buck the trend and pull of a successful event when others couldn’t do it on a bigger budget. They went viral and put together a great grassroots campaign and most importantly, they played to their demographic of young males.

One reason the other conventions ultimately went the way of the dinosaurs is that…

Sony’s major announcement was that they had finally developed an interactive controller, the Playstation Move, but unlike the Wii’s controller this one is made to take advantage of the new 3D TV (Coincidentally made by Sony; You‘ve got to love that synergy) Sony’s announcement comes just a few months from the E3 Expo, a consumer video game convention where most companies traditionally unveil their newest gizmos and gadgets. In a smart marketing move, Sony is getting a jump on the competition by announcing their major developments early instead of trying to push through the competition. They now have a news cycle all to themselves. In every market, but especially markets like the tech sector, if you can take advantage of a slow news cycle you can make a lot of money. That’s not the only place Sony learned from its past mistakes.

Not only have they learned the value of being the first out of the paddock, but they’ve also learned how to play off their niche audience. The advantage of having a core audience of young men is that you have virtually every medium in which to spread your message. (How often is a press conference for a video game broadcast on national television and the internet?) The downside is that that market doesn’t always have the spending money others do. The marketing strategy with the old model, when they come out with a smaller version and lower the price a year after the initial release, didn’t really work like it did in the past. That’s due mostly to a more competitive market. With the announcement that the Playstation Move will cost less than $100, they have shown that they really know the lifestyle of their core audience.

The biggest thing that Sony took away from their previous mistakes is that they learned how to capitalize on their advantages. In the one week that they’ve started to push The Move they have used the internet more than they did the entire campaign for the Playstation 3. They’ve learned that they can’t just let their reputation carry them because they have some very stiff competition now. Most of all they’ve learned that when dealing with the tech sector being last can cost you a lot. Great marketing departments learn from their mistakes so that next time – and the time after that – you don’t need to go into damage control.

http://www.afterdawn.com/news/archive/22063.cfm
http://www.qj.net/qjnet/playstation-3/sony-playstation-3-marketing-campaign-renewed.html
http://games.venturebeat.com/2010/03/10/sony-new-motion-controller-is-on-the-move/

10. Wyndham Hotels (http://www.youtube.com/user/WyndhamHotels)
Wyndham Hotels was one of the first hotel and resort companies to use online video advertising as a form of viral marketing and that’s one of the reasons they make the list. Their online videos also appeared on FunnyorDie.com and are a decent YouTube hit. They may have started out good but it’s been at least 2 years since they even logged into their site, which really just shows that they have a wasted opportunity here. At least they have a channel, the opposite can be seen with Trump Hotels which has a fairly large YouTube presence but lacks a home channel to properly showcase them.

9. Doubletree Hotels (http://www.youtube.com/user/DoubletreeHotels#p/a)
Doubletree proves that you don’t need a huge budget to run an effective internet video marketing campaign. Almost all of their videos can be done with just an employee and a video camera. They make sure to include various tours of their facilities, something that should be obvious but not all companies do them. Holiday Inn has a channel that only has a few commercials on it. They should be grateful to the 32 people that subscribe to their empty page. Doubletree included their commercials but went above and beyond creating web exclusive videos that that include cooking and crafts. Again, not expensive to do and it gives your page personality which translates into loyal followers.

8. Fairmont Hotels (http://www.youtube.com/user/fairmonthotels#p/u/5/seey5SKiKt4)
Fairmont Hotel’s channel shows that a little production value can be good if you can capitalize on it. If you just spend a lot of money filming videos and don’t have a way for people to get there then that’s just wasted money. Fairmont’s channel has a combination of their custom videos about golf and skiing, alongside smaller hotel tours, interviews, and commercials. This helps a lot with search engine optimization and, like doubletree, helps them compete with much larger companies.

7. Grand Geneva Resort (http://www.youtube.com/user/GrandGenevaResort)
Anyone in showbiz will tell you that production value is nothing if you don’t have a personality behind it. The Grand Geneva has that to spare. Not only does their channel have a lot of tours and videos of their great scenery, but they make sure to show people having a good time. Like the doubletree they know the value of a great instructional video for infotainment. Whether it’s interviews with people on the golf course or at the water park Grand Geneva makes sure to capitalize on everything they have to show that they are the place to be. Again, nothing on there is really expensive to produce so the only investment they made in their digital video ad campaign was time.

6. Four Seasons (http://www.youtube.com/user/fourseasons)
The Four Seasons channel not only gives you a great view of the hotels themselves, but they also go in depth about the surrounding town. They take that video camera and go out and show you everything you need to see before choosing your vacation destination. Not only that but the page is loaded with more content than most on this list. They have a lot of videos in a variety of different areas from commercials, to tours, to mini-documentaries on events they hosted. I’ve said this about twitter but the same reads true for online video, but the internet is not a bullhorn. If all you do is shout your message via commercials and video sales pitches you won’t get an audience. 4 Seasons has gotten almost 100,000 views because they make sure to entertain as well as inform.

5. Alerton Hotel (http://www.youtube.com/user/AllertonHotel)
One aspect of advertising that is overlooked is the simple idea of capitalizing on free publicity opportunities. Some of the multibillion dollar companies on this list don’t do it. For that reason alone The Alerton Hotel deserves to be on here. Not only do they do the things that others on this list do like tours and interviews, but they were smart enough to put news stories that featured them on their website. In effect they just doubled their Search Engine Marketing performance because they get traffic from news sources and people looking for hotel destination.

4. MGM Grand (http://www.youtube.com/user/mgmgrandlv#p/u)
Like the Alerton, MGM recognizes the value of free publicity. They make sure to include news segments where they are featured. They also take advantage of very event they have. They have everything from spring break to Cirque Du Soleil, or a filming of The Young and The Restless featured on their channel. They also showcase the things around them like nearby restaurants so that you know exactly what to expect without even making your plans.

3.Hyatt (http://www.youtube.com/user/hyatt)
Hyatt takes the idea of infotainment one step further by making funny videos about their attractions, from the corporate execs angry and the Japanese Chef to the business meeting suddenly breaking out into a techno dance party they have some funny stuff that shows off their product without even mentioning the company name. They have personalized videos for hundreds of their hotels so anywhere you want to be you can see it. It makes there YouTube presence essential in planning your travel which drives up their online video traffic exponentially. Their 500+ followers are proof.

2.Disney Parks (http://www.youtube.com/user/DisneyParks)
It’s not surprising that the big giant mouse has its advertising in order. From mini-documentaries to custom commercials that look like they could be made on a notebook with Photoshop Disney has got its entire base covered. They don’t just want their channel to be an advertising medium, they want it to be entertaining in its own right and they don’t break the bank to do it. They even go so far as to create their own news stories about new attractions, from rides to restaurants to the ESPN zone, they make sure to cover every demographic.

1.Marriott (http://www.youtube.com/user/marriott)
If you look at almost all the others on this you’ll see one odd thing. Where it says “Most Recently Logged In” some of them might say months, weeks, or even years. Marriott’s Channel is one of the only ones that is constantly updated and constantly monitored. No one wants to subscribe to or follow a company that hasn’t updated their videos in a while. At the very least it tells the customer you aren’t as interested in that medium as others. Marriott not only constantly updates and checks its page, but they showcase events, news stories, and tours to their utmost effect. Everything that the others on this list do wrong, Marriott does right and more so.

Online Video vs TV Ads
http://www.wired.com/wired/archive/14.12/youtube.html
http://www.youtubeadvertising.org/

As I said in a previous column, Pepsi decided to forgo buying a Superbowl TV spot and instead put their money in Internet advertising. If other companies follow them, major TV events could lose some ad revenue. Some of the networks who rely on the NFL, Major League Baseball, the Oscars, and other events could find themselves in the red very quickly over the next few years if they keep spending billions for these events. In turn the major sports franchises could also suffer if people start ignoring their commercials and product placements. This affects virtually all forms of advertising and if Tivo continues to grow the way it has, everyone will have to rethink how they spend their advertising dollars.

The question remains, who benefits from this major swing in agency spending? As companies find new ways to get their brand in front of your eyes, companies like Hulu, FunnyorDie.com, and Youtube are going to reap the benefits. Companies like Sketchers, Miracle Whip, and dozens of others have begun massive YouTube marketing campaigns, and others are sponsoring videos on Funnyordie. (Sketchers ad has gotten some media attention for its YouTube ad) The advent of web based television and 24/7 connectivity has allowed this market to flourish very quickly. The days of these sites popping up with no business model and shutting down before the business cards arrived could soon be in the past. As it stands Hulu, Netflix, and other web content distributors are operating on a razor thin margin. Just today Hulu could be facing problems from Comedy Central pulling content, and Netflix is facing studios wanting a piece of its meager profits. If they can last a little longer they could see their market stabilize, and that alone could draw in some more ad dollars from the companies that where leery of putting money into an unstable market. It all starts with a tiny box on top of your TV.

http://mediadecoder.blogs.nytimes.com/2010/01/10/winter-olympics-likely-a-tv-money-loser/

http://www.pcworld.com/article/190644/tivos_new_settop_box_unites_tv_Internet_programming

http://www.pcworld.com/article/190644/tivos_new_settop_box_unites_tv_Internet_programming

Even large companies with gigantic advertising teams forget the biggest rule of social media. Constant updates are the key. You would think that with that kind of budget, they could offer to have someone update their page 5 or 6 times a day. But lots of pages like Subway and Burger King only update their twitter every few days. (Burger King looks like it’s gone months without an update) Smaller chains like Potbelly Sandwich Works and Qdobe Mexican Grill have managed a bigger social media presence on their Facebook and twitter – despite being smaller.

Another rule that big corporations forget is that you need to keep people’s attention. With social media you aren’t just competing with others in your business, you’re competing with the entire Internet. On average, every second 7 new things (videos, articles, pages, etc) are posted on the internet and any one of them can grab the attention of a potential customer. If all you have is a link to your web page, and a few posts you might get people’s attention for a moment, but the likelihood of getting fans and regular viewers is slim. Pizza Hut has 1.2 Million Facebook fans, while Domino’s has 400,000. Is it because Pizza Hut is really 3 times better than Dominos? Or is it because Domino’s just posted a few ads on their page and Pizza Hut has mobile apps, menus, coupons, and constant updates to keep your attention?

A lot of companies big and small don’t take advantage of the simple fact that social media allows you to talk with your audience. It gives you a free, 24/7 365 instant focus group database. It doesn’t hurt to ask your fanbase questions and respond to their comments. Southwest Airlines recently got some bad press because of their policies regarding overweight people. One of the people they kicked off a flight for being heavy happened to be someone with 1.2 million Twitter followers. A press release wasn’t going to do much to quiet that many people, so they went on their own Twitter and started responding. It helped quell some bad press. On the other end American Airlines updates their Facebook with bulletins and messages, but doesn’t answer any of the dozens of complaints and questions. Just answering a few every couple of hours would go a long way in building their fan base.

Speaking of American Airlines, they are making a mistake that a lot of major companies are making. If all you have is bulletins and news items it will turn off a lot of your fan base. Twitter and Facebook are great ways to spread your word but they aren’t loudspeakers. People see advertisements all over the Internet. They aren’t going to sign up for a page just to get more. Try putting in some interesting links or giving your web page personality. One of the reasons Southwest has a good Twitter presence is because they clearly have a real person who enjoys interacting with the social media crowd (see examples below) and it shows. Ultimately, a lot of social media success is putting in the effort. It might take some time but it’s definitely worth it.

Sources:

http://www.dmwmedia.com/news/2009/05/20/buzz-watch:-southwest-airlines%E2%80%99-rapping-flight-attendant

http://www.tipsfromthetlist.com/21375.html

http://www.wired.com/epicenter/2009/06/ceos-are-social-media-slackers-study/

http://www.aviationweek.com/aw/generic/story_generic.jsp?channel=awst&id=news/awst/2010/01/11/AW_01_11_2010_p42-193334.xml&headline=Airline%20Social%20Media%20Strategies%20Vary

Xfinity came about because Comcast has lost over half a million customers in the last year to Dish network and other satellites.  Where they once had a tight grip what goes to your TV., they are letting a lot of customers slip through their fingers.   A smart CEO would notice that they have a long list of complaints against them and constant stream of bad PR, and decide they need to make their service better and build a campaign around renewed interest in their customer base like Dominos has.  For whatever reason, the management at Comcast decided to blame it on their brand name.   A lot of big companies use their advertising companies as scapegoats when numbers go down.  A great ad campaign can do wonders but it isn’t magic.  If you have competition and your competition is doing what you do better, they’re going to take your business, that’s capitalism.

Damage control doesn’t have to necessitate a name change.  Tylenol didn’t change its name despite tons of bad press in the 80s.  They focused their PR campaign on improving safety regulations and it turned out well for them in the long run.  Coco-Cola only slightly changed their name after the New Coke debacle to Coke Classic and it helped their product immensely and gave them a rejuvenated brand.   Ultimately renaming your brand as a form of damage control is at best a quick fix and at worst a Hail Mary, last ditch effort so salvage your reputation.  It might spike sales but it isn’t going to fix any problems.

Renaming your brand really only works when you are doing a complete overhaul.  When The Nashville Network decided people didn’t tune in to fishing shows 3 times a day they changed their name to Spike TV and focused on a wider range on male viewers.  Kentucky Fried Chicken decided they wanted to be more competitive with Burger King and McDonald’s.  To hammer home their new direction they officially changed their name to KFC.  Bandai Toys recently announced plans for a similar process moving away from creating knock Japanese cartoon action figures and focusing on toys for toddlers.   The trick to renaming your brand is to make sure people know it’s a new beginning. Otherwise you are just calling attention to the fact that you are doing damage control.

http://www.reuters.com/article/idUSN0515328620100209

www.broadcastingcable.com/article/447481-Comcast_To_Launch_Xfinity_Rebranding_Campaign

www.huffingtonpost.com/2010/02/04/comcast-xfinity-company-t_n_449088