Showing posts with label ambassador. Show all posts
Showing posts with label ambassador. Show all posts

Tuesday, January 14, 2020

Winter Repeat - What I've Learned

I first ran this a little less than two years ago and it seemed a good time to air it out again.

What I've Learned

Despite some pretty dubious watch coverage, I still really enjoy Esquire and I am a big fan of their "What I've Learned" interview segments.  So given some recent interactions I've had both in person and online, and considering that if I count back to when I first stepped behind the counter at Tourneau in San Francisco, I've been "in the game" for 15 years now, I thought it might be fun to put out my own "What I've Learned" piece.  So, gentle reader, here is some of what 
I've learned -

For some outlets, nothing is ever really free.


Now in fairness, people who write about watches are largely divided into two groups:
Those who do it out of passion alone, and those who do it for a living.  Quick note, nothing 
wrong with doing it for a living.  Of the second group, some do it for a living, but are still
passionate about what they do, and actually consider writing about a watch, a brand, 
a watch maker WITHOUT asking for payment (be it advertising, sponsored posts, outright payola) 
first.  For those of your out there in the marketing departments - if your going to spend
marketing money, then spend it on people out there writing about things that they
are passionate about, not just what they are being paid for.


While it is true that Hayek saved the Swiss Watch industry, Jean-Claude Biver would have still kicked ass with Blancpain and would have lived happily ever after either way.

I was there before Hublot became what they would become.  
I am still here now that it is a somewhat bumbling PR gas factory that, apparently, also makes watches.  Although I know that I have the ability to highly irritate him, I have a great deal of respect for Jean-Claude Biver.  But now is the time to start thinking about legacy.  About what happens when he is no longer there.  Jean-Claude Biver is a very, very impressive man.  He has done some very amazing things. Here's hoping it doesn't get washed away.

When a brand manager or CEO asks you "How are you my friend?"  The translation of that is - "how you doing, asshole?"

Brand managers, CEOs, PR people?  By and large, they are not your friends. No offense intended to brand managers, CEOs or PR people ; ). But be honest with yourself, you're not likely to be invited to their kid's wedding. Don't delude yourself to the contrary.  You might get lucky with a few - and I have, but the true friends will reveal themselves over time, and they are the ones you should always make time for at BaselWorld.


Having said all that - sometimes you will, despite your compulsion to serve up cold cups of coffee, find some true friends and supporters in some very unexpected places.

You will learn to see when people are genuine.  Hold onto those people like a non-treatable social disease.  They have every reason to dislike you based on what you write or say, and yet they are your audience.  And they are your friends indeed.

Rich, famous, important people - are a lot less interesting when you finally meet them.

Little known piece of Henki lore, my father was a country club manager.  Translation?  He worked so that the more well-heeled could play.  I worked in the locker room of the club, my first job working as a shoe shine guy.  Believe it or not, in the 70s and 80s, there was an actual industry based upon shining the shoes of rich people while they walked around a park-like environment, drinking beer and whacking small white balls.  Rich people, famous people?  They are people.  George Steinbrenner was a titan of industry and master manipulator.  I can tell you from personal experience, his shoes smelled just as awful as an orthodontist, dermatologist or mid-level auto executive's.   The one thing all four of these guys had in common?  They were shitty tippers.

I have met some of the big swinging dicks of the industry.  It is all too often underwhelming.

When anyone tells you how amazing you are and how "just as soon as you take advertising, we're in!"  this person should be taken with about as much seriousness as you would take the drunk person asking for $3 on the commuter train so that they can "buy a healthy snack".

We all say a lot of highly dubious stuff when we've been drinking.  That's why your wife/husband/partner learns over the years to apply the bullshit filter.  Make sure you do the same, it will spare you a fair amount of frustration and disappointment.

When you have made it clear by your actions, your writing, and your passion that you are predisposed to write nice things about a brand, and said brand treats you with a fair amount of indifference?  Take it on the heel and toe.  Love needs to be reciprocal.

I am still somewhat miffed by my interaction with a certain member of the SWATCH group.  I gave up a Thanksgiving holiday, spent several hundred dollars of my own money to interview their CEO, and then watched as the outlet that they were on retainer with got so-called "exclusives", review opportunities, etc., and I got the cold shoulder.   To this day, I have no doubt that the North American brand manager of SWATCH GROUP brand X just thinks that I am a difficult person.  But in fairness?  If someone is willing to give you so much for NOTHING?  You can spare a little time and a little effort.  And for what it's worth?  In speaking with retail partners of SWATCH GROUP brand X, they are not exactly selling like the waffle's sexier cousin - the hotcake.

Brands are made up of people.  The brand does not exist without the people.  If a brand has good people - I will do ALL that I can.  If a brand has people that just don't care?  Why should I care about them?

I get the odd comment - "I thought you were a fan of Brand A".  Well, I have come to learn that brands are made of people.  It's not as if the founders of Girard-Perregaux are going to make a special appearance in the physical world to tour me around the factory.  The brand?  The brand is the people who work there.  So put it in another context - do you like spending time with people who treat you poorly?  Of course you don't.  Molly Ringwald's entire career was based on this notion.  A watch is an inanimate object.  It can't speak for itself.  A brand is not simply products.  A brand is the people who make those products, and share that message.   

Brand ambassadors are about as worthwhile as what you wipe your backside with.

There is a reason why Hitler, Stalin and Pol Pot are not mentioned as customers of Brand X.  

Churchill, Napoleon, Lindbergh?  All flawed, all now "ambassadors" from the great beyond.  Well, they won, didn't they? They were all flawed, all had baggage. But they are a whole lot more palatable.  

Question - do you think that the Mario Batali Ernst Benz is a big seller right now?  

Sorry, too soon? 

A brand ambassador will not be there with you when they turn out the lights and escort you out of your now former office.  A former brand that was "ALL IN" can attest to that.

Remember everyone you meet when times are good.  You will see them again on your way back down.  

It is inevitable to fail.  The trick is not to make a habit of it.  More importantly?  Don't be a jackass when times are good.  Sooner or later, it is likely you will fail.  By and large, most of us want to help people and offer our support.  That is, of course, presuming that person behaved, well, like a person when times were good ; )

Don't fake the funk 

Because in the immortal words of that other great commentator on the watch industry Daryl Dawkins:
“When everything is said and done there is nothing left to do or say.” 

Friday, May 4, 2018

Repeat - The Sunk Cost Trap

This originally ran over a year ago, but following BaselWorld and the noticeably reduced attendance of brands, retailers and journalists, it's a topic that could stand to be aired out again.  Because this year both wealthy and modest brands were willing to break the habit of a lifetime and skip BaselWorld.  And what it underscored was the reality that not only is the business changing, but after several years of financial (and emotional) losses, some shot-callers had finally accepted that they had to keep their hearts and their wallets in separate locations.  Barry Hearn would be proud ; )

What Barry Hearn Could Teach the Watch Industry - 3

3.     Make sure your heart and wallet stay in a different place




Which brings us back to today's repeat:

The Sunk Cost Trap

I think we have all experienced this in one way or another throughout our lives.  For those of you not familiar, the Sunk Cost Trap is the tendency of normal, sane people to foolishly and (if we're being honest) irrationally follow a plan that is clearly not succeeding in its expected outcome.  

Why?

Well, because we feel that we have "SUNK" too much time, and or money into the exercise and we further feel that all of that time and money will be wasted if we changed course. 

Sound familiar?

The Sunk Cost Trap explains why we keep books that we'll never read, and clothes that we've never worn.

The Sunk Cost Trap explains why some brands continue to "sink" hundreds of thousands of dollars into failing partnerships, celebrity ambassadors and the on again, off again retention of the same PR firm that tends to get signed for a year, then replaced the next year, only to be signed again the year after that.  It's a bit like the Olympics or the World Cup, except that it's every two years instead of four.  Why?  Because they've sunk too much money into it now to walk away.

The Sunk Cost Trap explains why blogs and magazines will continue to keep a brand's ads running even though the brand has not paid for an extended period of time.  This is two-fold:
1.  Time spent and money not received
2.  Fear that walking away will ensure that the  brand will never advertise with them again - which is pretty silly when you consider that they are giving the brand free advertising already and not getting paid.  What exactly is it that they are afraid of losing?

The Sunk Cost Trap explains why someone who really only wants one nice watch will buy several discounted through the grey market assuming and hoping that the value of those watches will somehow magically increase in the not-too-long term so that they will be able to flip those watches and have a nice enough profit to then afford that one nice one.  Which never happens because - you guessed it - they are then trapped by the notion that if they sell the watches they bought on the grey market they will be losing money.  Which, of course, they will.  So they hang onto the not-so-loved watches in the hope that things will change.  

The Sunk Cost Trap explains why a retailer who continually hoses the brand manager by not paying their memo account when they actually sell something will not be confronted by the brand manager.  The brand manager has sunk too much time and too much money into the partnership, and even though they often wait a ridiculously long period of time to get paid (making several expensive trips to the retailer to count the safe and prove to them that, in fact, they have sold the watches and need to pay), this "partnership" will live on.  Often without the brand manager getting paid, and inevitably seeking new professional opportunities.

The Sunk Cost Trap explains why an honest retail  partner will get shafted by a brand who will not provide them with a limited edition watch to sell to their client (at full price) because they want to try to sell it at their own boutique.  Even though they do not have anyone who wants to buy it.  But the fear of having had it, and not selling it?

You get the idea.