Advertising & Marketing

Three Tips for Influencing People That Think Fast and Slow

Three Tips for Influencing People That Think Fast and Slow

Culture & Communication, Marketing

A couple years ago, while writing an economic policy paper, I read Daniel Kahneman’s book, Thinking Fast and Slow – a must-read on human behavior, rationality, and the lack thereof. This book validated my own professional experiences doing business with a diverse lot of characters, and opened my eyes to so much I didn’t realize about decision-making. Kahneman won a nobel prize for defining prospect theory, which evolves the longstanding utility theory, by finding that we make decisions not merely by seeking economic rationalization, but by allowing behavioral biases to envision prospective value. Continue reading …

Trust First – Cold Calling in a World of No Solicitation

Trust First – Cold Calling in a World of No Solicitation

Marketing

When I was 17, I cut my teeth in the sales field by cold calling small businesses in Northern Virginia – always ignoring that absurd “no soliciting” sign. My products were those logo-imprinted goods categorized as “promotional products.” That, they were, but there was more to these branded items than the name implied – and the other name, “advertising specialties,” did the same disservice to their value, undermining the product category even further by labeling them “special” – they could’ve just as well been termed niceties, sundries, or what-nots. I’m not even sure how you’d name the category – but business people simply didn’t know what they were by name. Continue reading …

Before Niche Marketing, Find Your Objective Self

Before Niche Marketing, Find Your Objective Self

Marketing

The ability to create successful niche targeting begins with the realization that as marketers we are biased – by default, the decisions we make on behalf of a brand are subjective. When we understand this fact, we can evolve our thinking beyond simple subjectivity and begin thinking like the very audience profiles we seek to target. We step in their shoes, and walk through their buyer journey – observing creative, requesting information, kicking tires, asking friends for recommendations, etc. This approach is beyond what’s apparent to the naked eye – it’s about truly being in tune – so ditch the basic demographics that match up men with sports and cigars, and empty nesters with bucket list travel destinations and time with the grandkids. Continue reading …

Dos Equis, Sunsetting a Strong Campaign Before It’s Too Late

Dos Equis, Sunsetting a Strong Campaign Before It’s Too Late

Advertising, Marketing

Several years ago, Dos Equis woke up consumers and the beer industry by introducing the iconic “the most interesting man in the world.” It was a brilliant idea: this classy man, of ambiguous but almost Latin ethnicity, was a successful silver fox, captured on each ad spot while savoring the bounties of fine earthly living, speaking succinctly with authority and righteous pomp to consumers that can only dream of his lifestyle, the pinnacle alpha male, winning, with gorgeous super models vying for his attention.

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Samsung Korea SSD Advertisement…cringeworthy. But the audience loves it?

Samsung Korea SSD Advertisement…cringeworthy. But the audience loves it?

Advertising, Marketing

Would love to interview the team behind this ad – the actors speak in well-pronounced, basic English at a very slow pace. Facial expressions and body-language are over-emphasized as well…to the point that it feels like an SNL skit. But, does this method activate the new product with the target market?

As a native English speaker…this is painful to sit through. Toddler television moves much faster. One of the actors, the businessman, apparently went to Reddit to explain why the acting seems so…bad? This is apparently how English-language is done on Korean media.

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On-demand Digital Marketing, Powered by technology, expected by the consumer

On-demand Digital Marketing, Powered by technology, expected by the consumer

Marketing

Great article from the McKinsey Quarterly: The coming era of ‘on-demand’ marketing | McKinsey & Company.

[…] marketing is headed toward being on demand—not just always “on,” but also always relevant, responsive to the consumer’s desire for marketing that cuts through the noise with pinpoint delivery.

The article walks through a couple scenarios of how digital media, analysis, and automation will personalize marketing touches with consumers and prospects more than ever. We’re beyond the age of worrying about cookies – and on to the age of Near Field Communications (NFC) (tapping devices with each other or with NFC tags to transfer data!), and automated, granular, rules-based targeting, retargeting, and co-branding that retargeting!

This is a good read for staying ahead of the curve.

Retail Commerce: Old Brands in a New World, Sears and JC Penney

Retail Commerce: Old Brands in a New World, Sears and JC Penney

Advertising, Marketing

Sears: An Innovator and Market Leader
In 1893, Richard Warren Sears and Alvah C. Roebuck started one of America’s retail pioneers, Sears, Roebuck and Co. The founders had some great ideas, in the earliest days they launched the famous Sears catalog to allow folks to order through mail – this was an innovation at the time because farmers used to have to come into town and haggle deals for their supplies. They made so much money that they opened a printing plant just to be able to print the infamous Sears catalog, which by the early 20th century had over 500 pages to it and sold everything a household would need, including hardware, groceries, and stoves! Continue reading …

Strategic Philanthropy: Often Overlooked, Corporations & Nonprofits Both Cash In

Marketing, Nonprofits

Cause Marketing, Corporate Citizenship, Corporate Responsibility — these are todays keywords. Partnerships between nonprofits and for-profit companies can create highly successful campaigns that ensure gains for both organizations. This also works when nonprofits team up with high-profile celebrities to work on specific campaigns.

Nonprofit organizations, constantly suffering a limited amount of resources, benefit from capital funding as well as the image of the partner corporation. Corporations stand to improve their reputation as socially responsible enterprises while developing priceless emotional connections with their stakeholders.

Lately we’ve seen prominent celebrities attaching their names and faces to nonprofit campaigns…these campaigns have in turn achieved levels of brand awareness that rival that of today’s most prominent corporations. Examples of celebrity-cause partnerships are Bono and Product (Red); Angelina Jolie and UNICEF; and who can forget Lance Armstrong and his own cancer fighting organization LiveStrong.

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Chrysler's Jedi Mind Trick: "Let's Refuel America" – $2.99 per Gallon Gasoline Guaranteed for Three Years

Marketing

Chrysler’s new campaign “Let’s Refuel America” gives customers that buy one of its cars a guarantee that will ensure them gasoline at $2.99 per gallon for the next three years (CarReview.com, 2008). This is such a great idea – hats off to the marketing team that came up with this campaign. The fact is that consumers still ends up having to shell out more money since Chrysler is way behind in the fuel-efficient car category. Just check out this Consumer Reports article that breaks down the financial aspects related to purchasing a Chrysler instead of more fuel-economic cars. A consumer could purchase a hybrid Honda, which is the only company that actually turned a profit this last fiscal cycle, and save a lot more money. Besides, Chrysler has announced that it will shutdown its factories for two weeks this July just to cut costs (NPR, 2008)

That’s all fine though…the marketing was great…and even though Consumer Reports found holes in the plan I don’t think this is a tough one to push past a sizable amount of consumers. This campaign sure sounds less shady than the ’employee pricing’ ploys.

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Wal-Mart: Mind Control Advertising

Marketing

I was driving to the office this morning, listening to funny morning shows on the radio as usual, and forgot to switch stations when the commercials came on. Before I knew it I got hit by a blatantly forward (and shameless) punchline: “Spend your paycheck at Wal-Mart.” For the remainder of the day I couldn’t get this out of my head – There is just something awkwardly eerie about this no-nonsense demand – my mother doesn’t talk to me like that! Continue reading …