Paul Galesloot’s Post

Why I Don't Have a Favourite Designer Here’s something about me that might surprise you. I don’t have a favourite brand designer. And the reason is simple. Opinions in branding should be backed by science and data, not subjectivity. Don't get me wrong, I love art, I love creativity however we are in the business of delivering results for our clients. Our designs have a purpose. They need to be effective. This data-backed approach is one I inherited from my father who was a scientist. And it compels me to constantly seek truth and adapt my views based on new evidence. Unlike a politician, a prosecutor or a preacher, my father only changed his mind unless the data changed. Then he would readily change his mind, delighted he had uncovered new knowledge. This perspective is much understated in a field where brand success is often misconceived through subjective interpretations rather than empirical evidence. Of course, I have a love for many designers, creatives and story tellers at Elmwood and MSQ and from other chapters in my career. I admire their ability to conjure new ideas on a daily basis and deal with harsh, subjective comments that come their way. But ultimately I believe in the power of evidence-based frameworks over individual prowess. Frameworks that anyone who has worked with me will know all about like: →How Brands Grow by Byron Sharp Or a book that changed my perception on productivity in the workplace, which I have referred to before →The Happiness Advantage by Shawn Anchor And more recently: —> Think Again by Adam Grant a framework for changing your mind on the evidence in a polarised, hyper-partisan world. Because, in the end it's the knowledge and evidence that drive success, and guide the creative flair. PS: Of course I have a favourite designer and you know who you are.  Yes, it's you.

I'll let you in on a secret: there is no manual for creating a successful brand. In last week's post I talked about how FinTech banking in 2024 is a true David Vs Goliath tale. FinTech brands have disrupted the banking sector and now traditional Goliath banks want to enter the space. We work with established clients in the same boat: launching a new offering for a new target audience. And one of the most important conversations we have during onboarding is how to position their brands for a new venture. The role of the brand needs to be properly defined. Can the (master)brand flex sufficiently to be credible in the Fintech space? Do we need to consider a sub-brand? What is the role of the master-brand and the sub-brand (we call this brand architecture). E.g., Zing by HSBC is an endorsed brand. The focus is on Zing, yet there is an explicit link to HSBC to lend credibility. However, GxS and TrustBank, FinTech offerings from other Goliath corporations, have adopted different strategies, choosing greater distance from their masterbrands. So I'll let you into a secret.   It's not about the theory. It's about knowing when to tap into your existing brand's: –> Trust –> Authority –> Respectability And when to distance yourself to emphasise: –> Agility –> Innovation –> Disruption Instead, if you're a CMO at a FinTech bank ask yourself three questions: 1. What should the new brand embody to standout to its customers? 2. How far do these new associations differ from that of the masterbrand? 3. What must we do differently with the new brand and what can we double down on? At Elmwood, we build meaningful and memorable brands that lean on the existing reputation of the masterbrand when appropriate. This brings up all the well-established associations existing customers love about it. But we also don't shy away from creating a brand that can step out on its own. Our MSQ team can activate these solutions, to make sure we attract more users (increasing household penetration). We don't just create brand strategy, we will implement and deliver real-life results. Would you like some help answering those three questions? We're looking to partner with banks looking to disrupt the market and build a meaningful, memorable brand in the brave new world of FinTech. Drop me a line if that sounds like you.

I care about happiness in the workplace but not for the reason you think. You see, most people have a pretty polarised opinion on this.  They either think: —> Workplace happiness is important on a human-to-human level as part of living in a better society, regardless of the impact on productivity Or —> This is a sign of weakness from a liberal CEO, letting his employees drink oat milk cappuccinos in the company games room (I’m looking at you Jason). But as anyone who has worked with me can attest, I follow the evidence. And the evidence overwhelming tells us happier employees leads to:  - A 20% more productive workforce (According to Social Market Foundation) - 59% lower turnover rates (According to research by Gallup) - Boosts sales by 37%  - Task accuracy by 19% McKinsey estimates that improving employee health and well-being could create $3.7 trillion to $11.7 trillion in economic value (working nine to thrive). Those are some punchy numbers! It’s because of this research that I make employee happiness a number one priority. Don't get me wrong, I enjoy the massages, healthy lunches and our recent company trip to Bali (pictured). It's not just indulgence, it's investment in happiness and productivity. At our annual Chinese New Year Dinner I asked all my employees to look at their neighbors and share a moment of gratitude with them. I then ask them to think about what makes them happy and to send a note of kindness and gratitude to another employee. It’s a great way for everyone to give back, stimulate happiness and a key reason we produce stellar results for our clients. P.S if you’re a CMO or a CEO looking for an evidence-backed branding solution let’s chat! It will fun AND productive!

How do I know when my team have done their best work? I’ll let you into a secret. It's not: -When we wins awards -When we land big flashy campaigns Or even: -When we get praise from a client Because all of that is ego. We’re being swept up, overtaken by big shiny objects that in the grand scheme of things don’t matter. My role is to focus my team on one thing: prioritizing the effectiveness of the campaign. How do we work better? How do we achieve higher returns? How do we prove or disprove whether our campaigns work for our clients? And how do we action that data to improve? That inspiration, but also perspiration. If you train a little bit less on one day for a marathon does that make an impact? You can’t say if dropping off for one day leads to diminished returns. But in your heart you know when you’re training well and when you’re not. The more compromises you make the less effective the end result. Because in an industry often dominated by noise (I’m looking at you Apple and your crushed pianos) in the end, it’s how effective you are that determines your best work.

Ever heard of the biblical tale of David vs Goliath? It's playing out in the world of FinTech branding. Traditional banks like HSBC and Standard Chartered are going digital, but they're struggling. HSBC's Zing had 36,000 downloads in the UK, compared to Wise's 203,000 and Revolut's 1,087,000. It's tempting for new FinTech's to focus only on short-term results through performance marketing; FinTech's are fast-paced and disruptive by their very nature. 'Branding is not a priority' is a phrase I hear a lot. At Elmwood, however, we believe in a more nuanced and long-term approach.  Brands relying on performance activation alone may suffer sub-optimal growth. Instead, we can supercharge performance marketing with unique cues that resonate with the brand. These are what Bryon Sharp called memory structures. These are essentially mental associations that consumers have with a brand, visual and verbal cues that are more than just logos, and slogans but also: –> Mascots –> Colours –> Shapes –> Images –> Sounds –> Motion The more memory structures are expressed with depth and ruthless consistency, the more likely a consumer is to choose the brand when making a purchase decision (aka mental availability). Marketing experts Les Binet and Peter Field have also spoken at length about the need to balance results-driven performance marketing with a long term branding strategy. And traditional Goliath banks have the advantage here. They have earned brand equity and therefore stronger memory structures. To cut through in 2024 whether you're in InsurTech, P2P lending, or e-wallets, your brand needs two things. First, to be meaningful - connecting to the aspirations of your target customers while addressing their pain points through a strong, differentiated brand positioning. Secondly, distinctive enough that customers build these memory structures wherever they are on their customer journey. Goliath banks looking to win in the FinTech world have decades, even centuries of reputational value. However, to thrive in the competitive FinTech landscape, they must enhance their relevance and significance to cut through and drive penetration. Which is where our expertise in both brand design consulting and activation comes in. Ready to be the next David in the world of FinTech Goliaths? Let's chat about how we can help you disrupt the market and build a meaningful, distinctive and memorable brand. #FinTech #Branding #DigitalBanking #PerformanceMarketing

How will AI impact team productivity? Interesting article which outlines that "AI causes team sociability to fall, and that lessens members’ motivation, effort, and trust", which negatively impacts team performance. To mitigate the detrimental effects of introducing AI to team environments companies should consider to partner "AI only with their most-skilled workers. The weaker the players on a human team in our experiment, the more that team suffered when given an AI member. So companies looking to introduce AI to teams might start with employees who are skilled enough to make the best use of automation. In other words, high-skilled humans and intelligent agents working together are high performing."

Awesome way to end the week...