Cha-Ching! The Price of Influence

A fool and his money are lucky enough to get together in the first place.

Gordon Gecko - Wall Street

So earlier today I was enjoying a particularly fine cup of coffee when the familiar "bing" announced an incoming email message.  Upon opening, it, I promptly shot a good gulp of French Roast through my left nostril, all over the screen of my brand new iPhone X.  I then had to use the sleeve of my jacket to wipe it off.  Carl F. Bucherer, you owe me for a dry cleaning bill. 

Every so often, I get a press release that makes me wonder if millennialitis is treatable, or chronic and just something hipsters and millenials contract and then die with.  

millennialitis

The belief of sales, marketing, and advertising professionals that the Millennial demographic represents a completely unique group of consumers and as such, entirely new approaches must be adopted. Even if the product you are trying to sell is intended for a completely different demographic, such as Depends Adult diapers.

I tried to explain to the Creative Director that the hipster didn't represent our customer demographic, but she's got a bad case of millennialitis.

You know,  not unlike their beard combs and hipster-meets-Amish outlaw clothing in their "thoughtfully curated closets" that no longer fits (in terms of both taste and size), but that no vintage clothing store will buy or charity shop will accept as a donation.

I'm going to reprint this just as it landed in my email in-box:

Courtesy of Carl F. Bucherer

New York, NY (December 4, 2017) - Carl F. Bucherer has launched an extensive new influencer campaign inspired by the urban spirit of its Manero Flyback watches. In keeping with the claim “Wherever time takes you, Lucerne travels with you,” the campaign features five highly popular US influencers that live its spirit in different ways. Among them is successful menswear and lifestyle blogger Blake Scott, who now has become the watch manufacturer’s first digital brand ambassador.

Carl F. Bucherer has been continuously expanding its digital presence over the course of the past few years. “Launching a global influencer campaign is the next step in our efforts to increase brand awareness and engage more directly with style aficionados,” says Danijela Andjelic, Head of Digital at Carl F. Bucherer. As part of the campaign, the brand is strengthening its relationship with five successful US men’s lifestyle bloggers – Blake Scott, Adam Gallagher, Luke Ditella, Brian Sacawa, and Igee Okafor – who were selected by the Swiss watch manufacturer as they all embody the fashion sense of a modern urban gentleman in their own way. These men are a perfect match for the Manero Flyback by Carl F. Bucherer, a key model for the brand. With its sleek style and multifaceted dial, the Manero Flyback is a watch that truly stands out from the crowd and is a wonderfully sophisticated accessory for global citi-zens with an eclectic sense of style.

Carl F. Bucherer is delighted to welcome Blake Scott as the brand’s first digital brand ambassador as part of the “ Wherever time takes you, Lucerne travels with you ” campaign. The successful LA-based lifestyle ex-pert created the very popular blog The Scott Effect ( thescotteffect.com ) and currently has more than 481,000 followers on Instagram. 

Okay, there's a whole lotta' wacka-doodle to unpack from this, but I thought in the interest of brevity, we'd just keep it simple:

The first important thing that needs to be taken into consideration - the acknowledgement that these fine fellows are, indeed, self-proclaimed influencers.  And what is the definition of influencer?  That's just it, it's too new to really be well defined. But it is becoming less and less of a positive moniker as it is becoming clearer that the influence had most often come with a price tag attached to it.  And the influencer was exchanging their heartfelt endorsement for remuneration.


I realize, a bit snarky, but essentially the entire influencer phenomenon is the result of what began as a fairly disingenous attempt to surreptitiously get a brand or product in front of a lot of people while surreptitiously slipping cash, favors, product (or all three) to the influencer in question.  Hopefully the new FTC rules will better inform the public as to who is getting paid to promote what.  In fairness, I have no idea about any of these folks now aligned with Bucherer, and frankly, I can't really be bothered to investigate too deeply.  I follow the Sartorialist and when it comes to watches?  I'm pretty much my own favorite "opinion leader".  But I am always very, very hesitant to give two (or frankly even one) shit/s about someone who offers an opinion that is paid for.  Now again, I am making the assumption that this is a paid arrangement, and if I am wrong, then will be very happy to stand corrected, and confused in the corner, wearing a funny hat.

Is it likely that these five guys woke up one day and independently  said - "You know, I think that Carl F. Bucherer watches are the Shit that Killed Elvis!  I think I'll feature them in my social media platforms!"

I mean, maybe they did, but I'm a little doubtful about that.  What it does mean is that some eager soul over in Lucerne decided that traditional advertising was not worth the results, so maybe it would be better to throw a chunk of marketing money at these guys to get them to wear a Bucherer and promote the brand in their social media feeds.  And if that is how it is, and everyone discloses it appropriately?  Fair play.

And this is what I would logically presume from the press release as it is written.  That not unlike a partnership with a famous athlete or actress, that this is a paid arrangement.  And if not, then these five famous fellows are pretty nice guys for giving so much free marketing muscle to a watch brand.  Any clarification from the folks at Bucherer would be appreciated.

The FTC has now made it pretty clear that influencers must disclose their endorsements on all posts that feature a product for which they have received payment (either in coin of the realm, or promotional consideration such as a freebie).  So if everyone plays by the new rules, then these social media posts are going to read a bit like the closing credits to a game show circa 1989 -

"Promotional consideration paid by the following..."
In essence, it becomes clear to anyone reading or looking at it that it is a paid advertisement in the guise of your instagram feed.

And then this begs the question - are the influencers really that influential any more?  The entire notion of the desirability of the influencer was that more and more young folks were turned off by traditional partnerships and advertising campaigns.  The argument being that this new generation was far too savvy to be taken in by such obvious and outdated marketing tactics.  That they responded more to seeing the product being used by someone that they admired and respected, that this was somehow more sincere.  And the benefit of the influencer to the person in the marketing department writing the checks (or sending the bitcoins) was that the influencer was a bit of a cyber Trojan Horse to get your product in front of potentially millions of people - some of whom might even be real ; ) 

So let's wait and see if this works, if so it could usher in a new era of officially sponsored "influence".   

As far as Bucherer goes, I have absolutely no idea what the "urban spirit of its Manero Flyback watch" might actually be, but in fairness, I did not grow up with the expectation that I'd get a trophy just for showing up, so I'm probably just too much of an old fart to understand.  Here's to being "influenced"! 

A Few Minutes with Sascha Moeri

As we approach year's end (and as the sun came up this morning, hopefully not the world's end) it seems a good time to catch up with some of the folks behind the brands.

And now, a few minutes with Sascha Moeri of Carl F. Bucherer -

Courtesy of Carl F. Bucherer

James Henderson - What was your first watch? Was it a gift? Is there a story behind it?

Sascha Moeri - My first real watch was a gift from my parents for my confirmation when I was
fourteen or fifteen, and I was very proud of it. It was a Rado, and I wore it for quite a few years. I hung on to it as a keepsake but then found a good reason to get rid of it at a charity auction. The very first watch I owned, though, was made by a brand called ATB. I was twelve years old and won it as first prize in a mountain bike race.

JH - As a boy, what did you want to be "when you grew up"?
 
SM - As a child, I wanted to be an athlete: either an ice hockey player or a professional skier.  Actually, come to think of it, there was even one point when I wanted to be a tennis player.

JH - Where did you go to school? What did you study?

SM - I studied economics and marketing in Bern and Zurich. I then did an MBA alongside my job. It was a joint degree course of studies at the New York State University in Albany and at the Lorange Institute of Business in Zurich.

JH - What was your first job in the "real world"?

 

SM - I started my apprenticeship in the finance department of a construction company ending with a degree in Business Administration.

JH - How did you get started in the watch industry?

SM - My first job in the industry was as a Credit Control Manager and Controller in the Finance Department at Swatch AG, with the Swatch Group.

JH - How would you describe the essence of CFB, its DNA?

SM - I have a formula that would explain Carl F. Bucherer’s success and it’s based on five pillars.

First, Bucherer’s history dates back to 1888, when Carl F. Bucherer opened his first watch and jewelry store in Lucerne, Switzerland. The company has remained in the family to this day and is now owned by the third-generation sole shareholder, Jörg G. Bucherer, the founder’s grandson. This unique historical background has ensured continuity and consistency all down the line.

Second, we’ve always combined leading-edge watchmaking skills with practical functional features. Our watches are still the product of the same philosophy and engineering that went into their predecessors and even feature some of the same components. For us, it’s the essence of pure Swiss watchmaking. As we move into the future, our timepieces will continue to blend state-of-the-art technology with forward-looking design and expertise. We are keenly aware of our tradition but driven by innovation.

Third, a central factor in Bucherer’s heritage is top-quality jewelry-making. It’s given us the expertise we need to make outstanding jewelry watches that appeal to lots of women.

Fourth, the products themselves: the moment you see and touch our watches, it’s virtually impossible not to fall in love with them. They’re a perfect combination of outstanding design and feel. One thing’s certain: we’ve never made compromises on quality and never will.

The fifth, but by no means least important, factor is first-hand encounters in Bucherer stores. They’ve traditionally been a source of invaluable information about consumer behavior and remain so to this day. The feedback obtained enables us to design outstanding products that appeal to our customers.

If we continue to keep sight of these factors, Carl F. Bucherer will always maintain the integrity, value and heritage that the market demands from an authentic, luxury Swiss watch brand.

JH - What is Bucherer's strongest market right now?
 
SM - Asia is our strongest market at the moment, but this is a fairly widespread phenomenon in view of the global economy. All the same, there is a difference, and it’s this: the CFB brand has been established in China for decades. We have deep roots in the market, very solid brand awareness and a solid extension of our family-minded business partners.

JH - I realize it might be hard to choose, but what is your favorite model?

SM - I have a particular liking for the Manero ChronoPerpetual, which is available in an edition limited to 100 pieces. The perpetual calendar, with correction-free indication of the date, day of the week, month and moon phase, remains a technical challenge that can be met by only a handful of watchmakers. The mechanism recognizes the different lengths of the months and knows when the next leap year is approaching. My personal favorite is the latest Manero ChronoPerpetual in rose gold with a
classic anthracite dial.

Another is the Patravi TravelTec FourX in red gold, which we are launching in a limited edition version of 125 pieces to mark the occasion of Carl Friedrich Bucherer opening his first retail store in the very heart of Lucerne in 1888. This dynamic timepiece features a combination of four exclusive materials: 18 K red gold, ceramic, rubber and titanium. The intricate skeletonized dial features three time zones and has a chronograph, hour, minute and small seconds hands as well as a date display.  The unique integration of movement and case calls for watchmaking skills at the highest-possible level.

Courtesy of Carl F. Bucherer 

JH - It seems you’re a good salesman as well, considering that our former Governor is wearing a Carl F. Bucherer watch. What’s Arnold Schwarzenegger like as a customer?

SM - What was amazing about meeting Arnold Schwarzenegger was that we share an admiration for fine watch making. He genuinely admires CFB for all we represent, namely our history and credibility. And he has a real appreciation of our products.

He is a true watch aficionado. And, naturally, we are grateful to anyone who wears Carl F. Bucherer and is so passionate about the product and the CFB family.

JH - What do you enjoy doing in your spare time?

SM - I really enjoy outdoor sports, mainly snowboarding and skiing. I started skiing when I was eight years old. In Switzerland it’s part of our lifestyle and parents usually start teaching their children to ski at a very early age. I took up snowboarding, in my pre-teen years at the age of 12, and since then snowboarding’s been my very favorite sport.

Apart from sport, I really enjoy smoking a good cigar. It’s something I took up in my early twenties. I was actually very curious to find out more about the entire process, and over the years I’ve learned a lot more about the culture, business and appreciation of fine cigars.

But the thing I enjoy above anything else is spending time with my close friends and family. And that’s what I do whenever I have the time.



JH - If you weren't doing this, what do you think you might be doing?

SM - If I weren’t in the watch business, I think I’d want to be involved in the cigar industry. At grass roots level, perhaps running a farm somewhere (laughing).

Courtesy of Carl F. Bucherer

JH - What advice would you give new CEOs in the Swiss watch industry?


SM - First and foremost we need to remember that we represent business entities which have a long history of innovation and technology and are famous throughout the world. When it comes to fine timepieces, Switzerland’s watchmaking industry leads the way. A CEO in the Swiss watch industry has a responsibility to ensure that our ethical foundation and traditions are preserved for generations still to come. If we maintain these standards of integrity in everything we do, the daily business of decision-making should be easier to handle and our industry will continue to strive long into the future.

www.carl-f-bucherer.com