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DiMassimo Goldstein blog

Welcome to our blog! Each week, our inspiring action content creators work hard to update this page with the latest and greatest in the world of DiGo.

Why Don’t You Do Time Sheets?

Time Sheet Doodle

The most creative activity in many agencies is filling out time sheets.

For eighteen years, we have never done one. Here’s why:

1) We don’t want to reinforce the silly idea that what we sell is time. We sell results.

We take that seriously and stick to it. Our compensation agreements align with it as well, accepting risk and reward for creating marketplace results.

2) We don’t want the moral or legal hazard of a practice that is almost universally abused. A process that at best is a waste of the very time it purports to record and at worst is a fraud. Sometimes accountants are creative people, but creative people are rarely accountants.

3) We want to spend all of our time and energy on the stuff we’re good at, the things that return the most value for our client’s dollar. We always strive to deliver much more value than we capture in revenue. And our agreements, often with lower fees and bonus for market success, bear this out.

4) No one benefits from a culture of nickel and diming over time. Not clients, who will feel hesitant to use the team to the fullest extent for fear of additional changes. Not agency people, who come to value their contribution in billable hours rather than in winning work. We never charge more for “going over” hours. Because we don’t measure hours, we measure value.

 

Brand Is What People Say About You When You’re Not In The Room.

brand blog

Branding is the process of building a coherent and distinct pattern of associations in the mind of a target audience.

When I say, “Apple,” a whole world of associations come up. When I say “Microsoft” a different world of associations come to mind. To the extent that both bring up associations, they have been “branded.” To the extent that those associations are clear, distinct, and helpful, they have been successfully branded.

Branding firms use culture, product, image, design, sound, voice, language, price, service, entertainment, celebrity, fashion, and interaction – an extremely broad range of tools – to build the brand. Today, the mission of an organization and the meaning of being associated with that mission is important to many people as well.

Too often, branding is associated with much more limited objectives. For example, logo and visual identity standards. While these are key tools for branding, they alone don’t create the brand.

Very often, when people use the word “brand” they are referring to what the company thinks and says about itself.

But brand is what other people say about you when you are not in the room. Brand is about what your audience feels about you in their heart of hearts. Your brand is not what you tell people it is, your brand is what people tell people it is. What you say is just your attempt to affect that understanding.

Today, brands are built by great products and services, first and foremost. In a world of online reviews, advertising and spin cannot trump a predominance of bad experiences. Not everyone, but your target audience must be delighted.

 

Inspiring Action For Hurricane Relief

In the past month, our country has been slammed by two catastrophic natural disasters in Hurricane Harvey and Hurricane Irma. While the storms have passed, the devastation has not. Millions of people have been affected, and thousands are still without food or shelter.

At DiMassimo Goldstein, we talk a lot about Inspiring Action, and there is no action more inspiring than helping people in times of distress. In the past few weeks, we have been inspired by the courageous and empathetic actions that many brands have taken to help those in need. When companies have the supplies and systems in place to respond quickly, they should – and these brands did just that and then some.

JetBlue has capped the fares of flights leaving South Florida and other parts of the country that are likely to see Irma’s fury, helping as many people as possible escape the devastation. These fares are available until September 13th. The company is also waiving fees for changes in reservations to travelers who have had to cancel flights due to the storm.

Airbnb launched their “Disaster Relief Program” in both Texas and Florida. The program, which assembles a list of hosts willing to open their homes for free, has helped thousands of people looking for emergency shelter following the hurricanes and flooding.

Verizon, Sprint, AT&T and T-Mobile have all waived overage charges for calls, texts, and data for its customers in Florida, helping people connect with family, check for weather updates, and follow the coverage of the storms on their phones.

Walmart has donated a total of $30 Million in relief for both Harvey and Irma. The company has also shipped thousands of trucks loaded with emergency supplies like water, batteries, generators, food, and first aid kits to hurricane impacted areas. Walmart will also match any donation that customers make at any Walmart or Sam’s Club.

Google provided real-time road closure information in its maps platform, which helped thousands as they had to make split decisions evacuating cities. The company also created a “digital survival kit”, pulling together about 20 mobile apps to help Floridians make it through the storm. The collection of apps included Hurricane Tracker, Family Locator, American Red Cross, GasBuddy, The Weather Channel, and Zello, which received six million users in one week as Florida prepared for the Hurricane.

After receiving requests for help, Tesla pushed a software update for those in evacuation areas that increased the battery capacity of some Model S Sedans and Model X SUVs, allowing the cars and those driving in them to go 30 to 40 miles farther on a single charge.

These companies showed love, courage, and understanding. They didn’t wait to react. They sacrificed sales and revenue to help others. They understood their power and responsibility, and used it to implement real on-the-ground solutions to acute and urgent needs.

Now that’s #inspiringaction!

To Build A Brand Masterpiece

I can’t remember when I first became fascinated with brands, but I know I was just a young child. Back then, Cheerios and Wheaties, Esso and Shell, Little Friskies cat food, Avis Rent-a-Car, were like cartoon characters to me. They had distinct personalities and I felt like I knew them, just like I knew the characters in my favorite shows.

From the brands I learned to love on TV to the more mature brands I later grew to love. The rock bands I worshipped. The threat and allure of Disco, Punk, New Wave and beyond. The religions I was pitched at school, in the streets and at my front door. My first credit cards from Citibank and American Express. Nike and Apple.

What art form gives you all the senses to work with? Sight. Sound. Smell. Hearing. Touch. And story, imagination and emotion too?

The dream began to form in me of building brands the way Picasso made paintings, the way Frank Lloyd Wright made buildings, the way Edison made inventions. Could I give thought to every touch point, and express a distinct and attractive personality that would remain consistent without ever being boring or trite?

I wanted to learn from the best, so I went to work for the best in the business. I chose as my clients entrepreneurial masters of brand building. I never thought of myself as the master, but only as student and servant. I practiced my craft obsessively. I stayed up nights writing. I read every book. I invited my heroes to lunch, always trying to learn a bit more, to add another key.

Yes, all of that time, I was a direct marketer. All of that time, I was measured by how well my work pulled, by beating controls, by winning tests, by conquering the A/B splits.

I learned all the tricks, but my greatest trick of all and the most effective was the ability to evoke emotion through brand. “A great brand idea is the ultimate response device,” I said. And I proved it repeatedly.

I’ve watched a lot of direct brands and careers die since then. Simultaneously, I’ve watched the great direct-led brands become the leading brands of our time. American Express, Apple, Amazon, Airbnb … and that’s just the A’s!

Remember, if you are in the business of selling directly, don’t merely sell. Build a rich, evocative, emotional brand. Use every touch point to differentiate. Err on the side of too much personality. Crush apathy. Make objectivity impossible.

Just as I do, so many wildly successful marketers remember their first journey of brand discovery as the true commencement of their marketing careers. They look back on that quest to uncover the insight that can change and organize everything going forward. The way they followed the data to the customer journey and came back with the golden insight, then mined that inspiring idea for all it was worth.

It’s a revolution in a brand, in a business and in a marketer’s career. In fact, many marketers have told me, “That’s when I first felt like a real marketer.”

Let’s do marketing for real. Let’s build a masterpiece.

 

Inspiring Action Brand of the Month: Ellevest

Sallie Krawcheck had an inspiring idea:

Create a robo-advising platform specifically designed for women.

Like most inspiring ideas, it came from true aspiration — and few things mobilize and stimulate humans more than true human aspirations.

That aspiration? To help close the investment gender gap. But to truly understand the roots of Krawcheck’s aspirations, you must first understand her background.

As the former CEO of Merrill Lynch Wealth Management, and the CFO of Citigroup prior to that, Krawcheck spent much of her career being the only woman in the room. Finance is a “for men, by men” industry, and few people in the world have been as exposed to — or as outspoken about —  that disparity as much as Krawcheck.

In regards to Wall Street’s unofficial mascot, Krawcheck asks Forbes, “Does it get any more male than that? Maybe a snake.”

The quantitative research is staggering. Just 16 percent of the nation’s 311,000 financial advisors are female. Due to this imbalance, investing is tailored towards men’s interests, leading women to put their money in the bank rather than invest it. Seventy-one percent of all assets controlled by women are held as uninvested cash.

To Krawcheck, this translates to “us boss ladies missing out on major market-gain opportunities and losing out on inflation.”

The reality is that the financial industry does not favor women. It doesn’t speak to their unique financial needs, or address their goals, or speak their language. Women aren’t as interested as men in “beating the market.” Instead, they prefer to think of their investments in terms of goals, like buying a home, starting a business, or paying off a student loan. And as a result, far too many women are sitting on the sidelines instead of making their money work harder for their dreams.

Frustrated and determined to make a difference, Krawcheck had her insight: Make investing seem like a game worth playing by making it appear less like a game.

In 2014, she put that insight to action by launching Ellevest, a female-focused robo-advising platform.

Unlike other robo-advising platforms, Elllevest puts women first. Krawcheck and her team spent over 100 hours interviewing women to ensure that the entire user experience was geared toward the way women think about their money. It connects with the female investor on a deeper, more psychographic level by putting a hyper focus on the realities of being a woman —  for example, the greater likelihood of women taking time out of the workforce. Or the fact that their salaries, in general, tend be lower over the course of their careers despite peaking earlier than men’s. It considers the five extra years of a woman’s lifespan when planning for retirement. All of these factors should have a strong influence on investing strategies, and yet Ellevest is the only company making an active effort to recognize them.

And it’s working. This past March, Ellevest had over 3,000 accounts with $18 million in assets.

Krawcheck has created a brand that allows women to inspire action in themselves. She has given her consumers a self-actualizing experience, and nothing is more valuable to a consumer today. Opening an account with Ellevest means investing in yourself. It’s a company on an inspiring mission to close the investment gender gap, and women want to be a part of that story.

That’s why Ellevest is our Inspiring Action Brand of the Month!

 

See Like An Optimizer

The following post is an excerpt from Digital@Speed, authored by digital marketing guru Mark DiMassimo. Visit the official website here to download your free copy today.

Optimizers have a way of seeing.

If I can’t get this across to you, then nothing else in this book will get you all the way there. You have to be able to project things forward in your mind. Like a chess master, to think trough the next few moves. You have to develop a feel for how things might go. The truth is, we all have this radar. It’s just human instinct. But some of us have better access to it than others.

This has been scientifically proven. If a threat – say a rat or a coyote – enters your peripheral vision, your little hairs will stand on end before you even consciously know what’s going on. Something in you knew, and reacted.

We know. Even when we think we don’t. Even when we’re so invested in the idea that we don’t that we’d swear to it ten ways to Sunday. We know.

We need a way of getting it out. I write a journal. I meditate. I play devil’s advocate with my partners and ask them to do the same with me. I indulge in focused worry sessions, to make sure i’m not missing anything.

Project forward, and optimize.

Four Straight Years of Award-Winning Growth

On August 16th, it was announced that for the fourth straight year, DiMassimo Goldstein has made Inc. Magazine’s list of the Fastest Growing Private Companies in America.

Less than 10% of companies on the list appear more than three times, much less in consecutive years.

Our growth is a direct byproduct of the growth and fulfillment of our clients, so we truly mean it when we say that we share this award with all of them. Our clients are our partners, and they make our mission of inspiring action possible by inspiring each one of us here at DiMassimo Goldstein every day.

This recognition is also a reflection of our team members who work so hard to drive this organization forward every day. The first step toward growth is having a vision, but that vision is only as good as the culture and team that works to bring it to life. At DiMassimo Goldstein, we’re lucky to have all three.

When brands focus on purpose, rather than just profit, their marketing blaze tends to burn hotter and last longer.

We’re just heating up.

Onward!

 

Hunting With A Fishing Pole?

The following post is an excerpt from Digital@Speed, authored by digital marketing guru Mark DiMassimo. Visit the official website here to download your free copy today.

Too many people are failing for hunting with a fishing pole. 

Let’s say you’ve gotten this far in life on your fishing skills. But the waters are all fished out and the hunters are bringing home the big dinners now. Do you get advice, read all you can about hunting, find a guide or partner to lead you? Or do you just head off into the woods with your fishing pole and tackle?

Of course not. If you are with me to this point, you of course recognize this as absurd. And yet we all do this in some part of our lives, very likely in more than one. The fact is it’s so hard to keep track of the things we know that it’s impossible to even learn the names and categories of all the things we don’t know.

And knowing is just the first step. Accepting is another thing entirely. Knowing what to do about it is a third. If the thing you don’t know is a fatal flaw such as not knowing how to judge character and quality in people, then that’s going to dog you no matter what you do. You are going to need to address that directly, as quickly and as energetically as you can. You’re going to need to get the best help you can with that, because it will be like driving with the emergency brake on- it not only slows you down, it also stinks.

Work as hard as you can on getting to know what you don’t know. If you don’t know marketing, find someone to trust. Of course you need to learn and check with other advisors, but you want to try to develop trust and a good relationship with a key advisor. Look for proof, for measures of success that make sense, but delegate real responsibility and authority.

Create a real partnership and let it flower.