April 26, 2024

Campaign Spotlight: Creating ‘Youphoria’ the Nordstrom Way

The retailer — which traditionally has handled the creative work for its advertising in-house — has hired Mekanism to develop the new campaign, aimed at promoting the concept of “Youphoria.” This includes videos featuring young adults involved in activities like chopping wood or riding a motorcycle while fashionably dressed.

The campaign is the latest effort by Nordstrom to attract young shoppers. Last September it began selling the British fast-fashion brands Topshop and Topman at select stores and online. It also bought the flash-sale site HauteLook and is selling Bonobos, the e-commerce brand, in its stores. And in February, it revamped the merchandise sold in its Savvy department, reducing the average price point to $50 from $150, and offering what Michael Crotty, Nordstrom’s vice president of marketing, called “new, of the moment” brands.

Mr. Crotty said the retailer was now “offering a wider mix of high to low merchandise, it’s something we hear that our customers are looking for.”

Pete Caban, a partner and head of strategic development at Mekanism, which is based in San Francisco, said the agency “wanted to create something that would connect with the customer in a lighthearted, fun, engaging way that would show personality.”

To that end, Mekanism developed the “Youphoria” concept; its message, the executives said, is that “great style from Nordstrom can help you build a character that is uniquely your own. Under one roof you’ll find incredible brands and style that are attainable for everybody.”

One of the campaign’s videos features a stylishly dressed man carving a large log with a chainsaw. The voice-over says, “Slim cut, Oxford sport coat. Pocket square. Italian monk strap shoe. And, of course, leather gloves for safety. It’s perfect, just because you’re building a log cabin doesn’t mean you should dress like a crazed mountain hermit.”

A second video depicts a hip young woman squirting lighter fluid into a raging bonfire, with a man in a raccoon suit dancing in the background. The voice-over here says, “Some people light a fire with two sticks. You light it with a laser-cut mini, black leather moto jacket, and an arm stacked with bangles. Because you’re not a woodsman, you’re a lady, with a bottle of lighter fluid and a mission to party.”

The third video, showing another young woman on a minibike riding down a hill, has a voice-over that says, “It’s not where you’re going, it’s how you get there. Cotton lace sundress. Strappy metallic stilettos. Something sparkly. And a smirk that says, ‘Yes, you have that right. I am piloting a minibike through life.’ ”

The videos, which are all 30 seconds long, end with the tagline, “Youphoria. It’s more attainable than you think. Find yours at Nordstrom.”

Nordstrom began promoting the videos earlier this month in six markets, Boston, Chicago, Dallas, Houston, Los Angeles (including Orange County) and San Diego, all of which except Houston have multiple Nordstrom stores. Mr. Crotty said these markets were chosen because Nordstrom felt it could “learn a lot from them. It’s important to drive people into the store and online” to shop.

Aimed at men and women ages 25 to 35 who are interested in fashion, music and pop culture, the campaign will run through the end of May; Nordstrom has temporarily suspended it in Boston, in the aftermath of the marathon bombings.

Mr. Crotty said Nordstrom had opted to post the videos now because this period “is the transition from one season to the next. People are tired of wearing winter clothes. It’s the right time for us.”

The videos are available on Nordstrom’s YouTube channel and are being promoted by the retailer via Twitter, Facebook and its Web site. New digital ads, purchased with the help of Omnicom Media Group — featuring images from the videos and encouraging viewers to shop at www.nordstrom.com — are aimed at individuals in Nordstrom’s demographic and geographic target markets who go to Web sites like Vevo, Glam Network, Pandora, Zimbio and Latina.com.

Next month, Nordstrom stores in all video markets but Boston, will hold parties at which the retailer will give fashion bloggers a gift card to shop for an outfit that will make them feel they have “reached Youphoria,” Mr. Crotty said.

Nordstrom’s budget for the Youphoria campaign is less than $5 million. According to Mr. Crotty, the retailer has focused its advertising efforts almost entirely in the last few years on digital advertising, to stimulate online and in-store sales. He said Nordstrom spent more than $36 million on advertising last year, virtually all on digital efforts.

He said digital advertising helped Nordstrom find “a lot of new customers online and in-store. Somewhat younger customers respond really well to digital messages.”

Article source: http://www.nytimes.com/2013/04/22/business/media/creating-youphoria-the-nordstrom-way.html?partner=rss&emc=rss

Bucks Blog: Financial Tips for Younger Adults

An article on Friday in The Times focuses on the financial challenges facing younger Americans, who are accumulating wealth at a much slower pace than their parents did.

With stagnant wages, a tough job market and heavy student debt, American under about age 40 have accrued less wealth than their parents did at the same age, even as the average wealth of Americans has doubled over the last quarter-century, according to a new study by the Urban Institute.

The situation is of concern to financial planners and advisers because of what they call the “time value” of money — that is, the earlier you start saving and investing, the more time you have for your assets to grow. If you get a later start, you’ll have less time to catch up. So by getting behind now, young people may find themselves short when they near retirement.

Greg Dorriety, a certified financial planner near Mobile, Ala., said he often advises young adults who are the children of his older clients, and he stresses with them the need to start saving — even if it’s as little as $10 a month, if money is tight — to get in the habit. With the uncertainty about the future of Social Security benefits, he said, “There’s a high likelihood they’re going to be personally accountable for their own retirements.”

Younger people who are able should do the obvious things like contributing as much as they can to their 401(k) or profit-sharing plans, he said, if their employer offers it.

He also advises younger adults with higher incomes not to aim to buy a big, expensive house right away, because they are likely to move around before settling down. Ditto for fancy cars. But if they want the cars, he said, he urges them to buy “gap” insurance, which will cover the difference between what they owe on their car and what it’s worth, if the car should be totaled in accident.

Timothy Maurer, a financial planner and personal finance educator in Baltimore, said younger adults often get caught up in instant gratification, buying cars, furniture and electronics on installment debt as soon as they get their first job and apartment. When added to their student loans, the burden can become crushing, leaving little for savings. He said he encouraged young people to reframe the way they think about debt and savings.

For instance, he said, he suggests taking only as much college debt as they can reasonably expect as their first year’s salary in their chosen field. And rather than simply trying to save 10 percent of their salary indefinitely,  he advises saving more — 20 percent — when they are in their 20s. When they get married and have children, it will get harder to save, and they may struggle to save even that 10 percent.

Jonathan Geiger, an adviser with Charles Schwab in Manhattan, said he urged younger clients to have a written budget: “Know what your expenses are.” If your cash flow isn’t covering your expenses, you need to cut back — perhaps on treats like dining out and daily coffees. He said he also recommends that young people pay down high-interest rate debt, like credit card balances, first, and consider transferring the balance to a card with a lower interest rate if they can’t pay it off monthly. If clients work for a company that doesn’t offer a workplace retirement plan, they can consider an I.R.A.

If you are under 40, let us know if you are able to save and invest for the future — or is it too difficult right now?

Article source: http://bucks.blogs.nytimes.com/2013/03/15/financial-tips-for-younger-people/?partner=rss&emc=rss

She Owns It: More Thoughts on Growing Your Business

She Owns It

Portraits of women entrepreneurs.

In previous posts, members of the She Owns It business group discussed last year’s accomplishments and their goals for 2013. This week, a member of the group, Alexandra Mayzler, who owns Thinking Caps Tutoring, adds her perspective and leads the group into another conversation about managing employees.

Looking back at 2012, Ms. Mayzler was most pleased that her company created an infrastructure that she believes will enable it to grow. “When we started talking, my biggest concern was I didn’t want to grow if we didn’t have a system in place,” she said. “Now we have it, so there’s no excuse.” In the last year, she said, she has transferred the information needed to run the company from her head to a handbook complete with flowcharts that explain how to do things — including hiring and firing — the Thinking Caps way.

She is also happy with improvements Thinking Caps made to its tutor training materials that made them more fun and interactive. Updates to the company’s Web site and logo are imminent. Ms. Mayzler said these changes will reflect that “we’ve been around for 10 years and are growing up.”

During a previous meeting, Ms. Mayzler talked about two new Thinking Caps programs: Prepare to Launch, which is geared toward young adults navigating post-college life, and a study skills class (in addition to the individual tutoring already offered). Having the new programs is one thing, she said, but equally important is letting people know about them. Ms. Mayzler plans to accomplish this by partnering with schools or organizations that offer classes for children and teenagers, like a Y.M.C.A. or a Jewish Community Center.

Managing her staff continues to prove challenging for Ms. Mayzler. She feels she is effective in guiding, inspiring, teaching and critiquing tutors. But she is less adept at setting expectations and directing her office staff.

Another group member, Beth Shaw, who owns YogaFit, said she finds herself in a similar position. She feels she is better at managing her company’s yoga trainers than its office staff.

“I also wonder if I’m training people correctly,” Ms. Mayzler said.

“I’ve had issues with always trying to see the potential in people,” said Deirdre Lord, who owns the Megawatt Hour.

Employees who don’t see their own potential worry Jessica Johnson, the owner of Johnson Security Bureau. She said that while she’s in business to make money,  “something greater” keeps her going. “If I can use my business or my position and whatever bit of voice I have to help somebody get closer to what they’re supposed to be doing in life, I feel like that’s part of my job,” she said. But she can’t accomplish that without some help from the employee.

With a little extra effort, she said, some of her company’s guards could position themselves for promotions and higher wages. “If they realize they can do better,” she said, “I can help them do better. But if they can’t see that for themselves, everything I try to do for them is for naught.”

You can follow Adriana Gardella on Twitter.

Article source: http://boss.blogs.nytimes.com/2013/01/15/more-thoughts-on-growing-your-business-and-helping-employees/?partner=rss&emc=rss

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All Under One Roof

Room for Debate asks: Is it so bad for young adults to move back in with their parents?

Article source: http://feeds.nytimes.com/click.phdo?i=9336da4e7d2dec2e7a13f6a1395d9831