Although this blog refers to the use of music in television commercials, there is a lesson to be learned when developing a strategy to bring a new fund to market.
For example, it's not uncommon to watch television or listen to the radio(for those of us who still do that) and hear an old song that accompanies the merchandise being marketed. The purpose of choosing these “oldies” is to connect us with a time that we consider nostalgic and bring us back to our respective youthful times. It’s a tried and true method of creating a mood in the 30-60 seconds of airtime that has been purchased.
However, so often when listening to the music soundtracks and the products offered at the moment, the messages can often be classified as mixed at best and completely off the wall at the worst.
The two companies with biggest question marks that are going to be highlighted in this blog are as follows:
Royal Caribbean Cruise Lines which chose “Lust for Life” by Iggy Pop a few years ago and most recently the car maker Kia chose “Dueling Banjos” by Eric Weissberg for its Kia Soul line.
As a reminder, the Iggy Pop punk classic refers to drugs, liquor and many physical acts that some may consider inappropriate, especially when promoting a family cruise vacation. And Dueling Banjos gained huge popularity as the main theme for the 1970’s canoe and camping trip movie, “Deliverance”. And nothing more needs to be said about this particular contribution to the wonders of cinema.
One might ask, how does this happen? Who is control of matching this music to what may be considered wholesome family fare? My guess is that the creative teams at these company’s advertising agencies were only children sitting in the backseats of their parent’s cars and remember these songs and have absolutely no recollection of what they’re connected to.
This is something to think about when positioning your fund and strategy when attempting to connect with your audience. One question to ask is, “who in our organization has a true understanding of our product line and who understands how to bring this message forward? Is this person or team able to succinctly describe to the marketing and public relations professionals whether internal or external? In truth, it's not an easy task at all.”
There are certainly examples of funds that got hammered by the global financial crisis and quite possibly properties from these funds that might end up in your brochure a few years from now because the marketing team didn’t do their proper research when developing the creative collateral materials for the new strategy.
Innocent enough, yet, this is where keeping your eye and ears on the marketing message can get completely lost. You rarely get a second chance to capture a potential customer ‘s buy-in and not being completely clear about your message can do immeasurable damage to your brand.
The point here is that a company needs to be on point in all aspects of its message and the medium it’s utilizing to get this message across. Without it, you can find yourself at the end of a very camping trip, or worse.
Jonathan A. Schein is a successful C-Suite executive and entrepreneur possessing a unique combination of business development, sales, marketing, and digital skills. Has a deep understanding of the media industries and financial markets with a bold spirit and proven ability to identify emerging markets . Has worked with real estate and green and sustainability industry stakeholders to build new and profitable lines of business. Previously held CEO and other senior executive positions with responsibility for creating overall business development strategy.