95: How Monster's CMO is Revitalizing the Brand

One of the more refreshing trends in marketing is the grand "mea culpa" in which a brand apologizes for past shortcomings and offers a renewed commitment to quality/integrity. Wells Fargo's recent "re-established in 2018" campaign is one striking example. Another comes from Domino's a few years back when they admitted their pizza was poor and relaunched with a better tasting product. This approach takes guts but really resonates especially when the pledge to be 'better" comes with demonstrable actions. Which brings us to this episode of Renegade Thinkers Unite in which Jonathan Beamer, CMO of Monster, admits that the online jobs site had "coasted" for a while and explains how they are renewing their commitment to job-seeker success. What is so interesting in this case is that though Monster had coasted after dominating the job search market for most of the dot-com era, the brand still enjoyed high awareness and what Beamer calls "latent favorability." Having this strong baseline to build from, Beamer expected that the combination of product improvements and increased advertising would help revitalize the brand. And though Beamer describes Monster's revitalization as "a work in progress," the brand is already seeing increases in site traffic and customer activity. Not coincidentally, Monster is back on TV providing further proof that this medium is far from dead as digital pundits declared 10 years ago! Listen here for inspiration on how you might revitalize your brand.  Subscribe on Apple Podcasts - Stitcher - or Podsearch What You'll Learn There's great power behind a brand that people are familiar with and trust There's one core truth behind Monster that has allowed their brand to survive across decades, and that is that people are always searching for fulfilling work. Since 1999 Monster has connected people and job opportunities, and Jonathan explains that it's paying attention to small details that makes Monster stand out from the masses. He explains the powerful concept of "latent favorability," when people remember your brand fondly even after having not used the company's services for a period of time. Monster has values attached to the brand that goes beyond the product it provides, and that's where the company's power lies. These 4 tips will help you refresh a stagnant brand Jonathan's marketing team at Monster has been faced with the challenge of refreshing a company message that has existed for nearly 20 years. In his conversation with Drew, Jonathan explains 4 main tips that have helped guide his team through the process of refreshing a stagnant brand. Here they are. Be the voice of the customer (in Monster's case, understanding both an employee on the hunt for a new job and a recruiter looking for top talent) Have a close partnership with the product/service development team Understand the simple decisions made throughout a customer's purchase journey Be consistent with the tools you choose to use Learn how to track brand awareness for greater marketing success Having data on your brand, its level of awareness within your target market, and your digital followers is essential, but you have to know how to aggregate and analyze that data. Jonathan explains that you should not get hung up on the questions to ask when conducting brand awareness surveys or sending out evaluation tools. At the end of the day, the tools you use to track brand awareness matter less than the overall feedback it provides to you and your team. Jonathan also recommends that you also utilize your historical data and keep the big picture in mind when doing brand tracking. For even more insights on how to track brand awareness effectively, be sure to listen. Timeline [0:28] Drew introduces Jonathan to the Renegade Thinkers Unite show [3:38] Jonathan's Renegade Rapid Fire segment [17:06] The importance of factfullness in the world around you [19:50] What Jonathan's excited about as the CMO of Monster [24:07] This is what happened when Monster stopped investing in marketing [30:14] Fixing fundamental aspects of the Monster brand [35:37] Keep these ideas in mind when doing brand tracking [40:51] There's a strong bond between quality products and justifying marketing efforts [43:32] Content is huge in Monster's marketing strategy [48:15] Jonathan's top 3 pieces of advice for new CMOs Connect With Jonathan: Connect with Jonathan on LinkedIn Follow Jonathan on Twitter Resources & People Mentioned BOOK: "The Fountainhead" BOOK: "Factfulness: Ten Reasons We're Wrong About the World--and Why Things Are Better Than You Think" BOOK: "How Brands Grow: What Marketers Don't Know" Connect with Drew http://renegade.com/ On LinkedIn On Twitter On Facebook On Instagram