How long does it take a customer to buy your product or service after seeing it advertised? The shorter this time, the less likely that the consumer changes their mind or gets distracted by some other trinket on which they can spend their money or time.
I have two messages for you: sensational and frightening. Actually, it’s one and the same message, but its reception depends on which side of the “marketing fence” you are. Ready? Here it comes. With your geolocation data at their disposal (provided by your mobile phone which traces your every step), the scientists are able to predict your location on the next day with an accuracy of 96%. Specially designed algorithm takes into account your habits, the topography of the city and even your social graph (the relationships with your friends) and then spits out a frighteningly accurate forecast.
Traditional 4P of marketing (product, place, price and promotion) are becoming things of the past. You can no longer compete using your product — many retailers are offering the same thing and the market has become very transparent.
Botticelli, Michelangelo or Leonardo da Vinci would not have achieved the things we enjoy today, if it wasn’t for patronage. Why Lorenzo Medici (called Lorenzo the Great) took under his wings the people who made great art instead of just multiplying his — significant already — piles of money?
The concept of Unique Selling Proposition — USP — first appeared in the 1940s. In 1961 Rosser Reeves, the man who coined this term, described it in his book Reality in Advertising, defining it as “buy this product to get this specific benefit”. In the second half of twentieth century such advertising style worked great. Today, unfortunately, it does not.
“Engagement” is the buzzword of advertising industry. On the internet, television or any other medium we strive to engage the customer, who—overwhelmed by the multitude of messages—just keeps getting better at ignoring us. But we (I write “we” meaning “advertisers” or “agencies”) have problem building this very engagement. Why? Because we approach the topic in a too standard manner.
Missing the call to action is one of the most common mistakes made by marketers and brand managers. One question you should ask yourself before publishing a new website or sending a brochure to print is:
You probably know the old saying: “You will never have the second opportunity to make first impression.” Like many “folk wisdom”, it is also used in marketing. Problem is… it’s not true. And building your strong brand should be based on continuous effort to make another great first impression.