Tag: Need

How is your brand performing in the economy of feelings?

 

 

Ever since I can remember, marketing has focused on the USP, the unique selling proposition, and the product’s/service’s features and benefits. This is a traditional theory and applies to a rational, analytical view of value. In an oversupplied market with more, and often conflicting information, rational decision making becomes a myth.

 

Instead, start paying attention to what people do (which is the best indication of how they feel), not so much to what they say.

 

The more choices there are and the more complex life becomes, the more people make decisions that “feel” right to them, and NOT on an objective truth.

 

So, how is your brand performing in the economy of feelings?

 

Changing behavior is a herculean task- ask any newspaper brand or cigarette brand or an Operating System brand..

 

You would have heard of this brand called Betty Crocker fabled for their Cake Mixes– when they launched, it was launched as a plug & play product, get the mix into the oven and voila, the cake is ready! Guess what? The brand bombed in the market.

 

They went back into the market wherein they gave only a 70% ready product and got the customer to participate and work on the remaining 30%- now guess what?? Betty Crocker was a roaring success.

 

Same thing applied to Ben & Jerry when they launched their Lavender flavor- it bombed..comeback kid was twinned with a more familiar to the audience Vanilla flavour and presto..

 

Creative pursuits that aim at changing consumer behavior should be hinged on layering the novel on the already familiar.

 

Caution: The value of marketing is not where you have been told it is.

 

Analytics inform , emotions compel.

 

In an era of quantum marketing with 5G, IOT, AI, VR, AR, MR, Meta etc, connecting hearts and minds is a great opportunity.

 

So, Marketing 101 would somewhat go like this:

-Identify which audience you want to be serving

-Examine what they need or want but don’t have

-If you can help people get to where they seek to go, when they’re ready to get there, the stuff called marketing gets significantly easier

-Be happy with serving a MVA(Minimum Viable Audience) rather than try to be all things to all people. Delight the daylights of your MVA

-Instead of finding customers for your product or service, find a product or service for your audience

 

As I conclude, may I direct you to this article from BrandKnew on how marketing has changed over the last half a century

 

ENDS

 

 

 

‘FIED ‘ and Tested

‘FIED ‘ and Tested
If judging others constitutes full time employment, then most of the world is a very well employed space.
As beautifully articulated by Stanford professor Mark Gerzon, “The world today has an advocacy surplus and an inquiry deficit “.
‘ FIED ‘ can fall into three buckets:
QualiFIED means that you have done the work, earned the trust and have been invited to join us. You get a seat at the table. More than ever, the current technology and the lack of gatekeepers mean that your body of work could earn you the benefit of the doubt and give you a chance to speak up.
DisqualiFIED is what happens when you over promise and under deliver or you expose intent that’s not in alignment with what the rest of us expect or need.
UnqualiFIED is rare. It’s at a premium. Like in “ you have our unqualified support “. Getting the benefit of the doubt long after most people would have lost our trust is a hard won privilege. It’s very hard to earn unqualified support, so if you earn it, be careful to not waste it.
The worrying trend though is far too often even well before we begin looking at skill, we are judging people for other reasons. It is definitely not done and highly wasteful.
Being confused about what makes one qualiFIED or not, perpetuates injustice.
It is a rapid race to the bottom.
And if your quest is for the True North, then south is not the direction to head in.