MARKETING
Equinox Champions the Anti-Resolution
Welcome to HubSpot Marketing News! Tap in for campaign deep dives, the latest marketing industry news, and tried-and-true insights from HubSpot’s media team.
The beginning of January is like the Superbowl for fitness and wellness brands.
Year after year consumers set goals to form healthier habits in the new year and 2023 is no exception. According to Statista’s Top New Year’s Resolutions Survey, 52% of American adults want to exercise more, 50% hope to eat healthier, and 40% are looking to lose weight this year.
You would think fitness brands would be going all-in to capitalize on this momentum, right? Well, upscale fitness chain Equinox had other plans.
On January 1, Equinox updated the company website and shared controversial social posts claiming the company “Doesn’t Speak January” and isn’t allowing new members to join during the month to prioritize those who are dedicated to fitness year-round.
The statement has been controversial, with some consumers criticizing the brand for shaming those at the beginning of their wellness journey and being exclusionary.
Reading through the tweet replies left me wondering: do we truly expect a company that charges upwards of $330 per month for membership dues to be the poster child for inclusivity?
New Year’s resolutions, especially those geared towards fitness, have a bad reputation because so few people achieve them. Many believe those who don’t achieve their resolutions fail because they aren’t motivated enough to stick with it when in reality it’s often because people don’t have the tools, resources, and support they need to make lasting changes.
As a consumer, frequent year-round gym-goer, and former fitness professional, I couldn’t help but roll my eyes and disagree with Equinox discouraging new members from joining in January.
As a marketer, I could see the messaging from Equinox did exactly what it intended to do — create a viral moment that got people talking (we know the brand is no stranger to controversy).
If the goal of a brand is to help people live healthier lives, forming the habit of exercise should be encouraged year-round especially when people feel motivated and excited to do so. But I would argue that isn’t the primary goal of Equinox.
Instead, the goal is to sell a lifestyle that prioritizes upscale experiences and social status, not accessible wellness solutions.
When exclusivity is part of a brand’s ethos, exclusive messaging may be disappointing but is ultimately on-brand.
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MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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