Being safe in your business is a sure way to mediocrity and perhaps even bankruptcy. The big deal about Johnny cupcakes is not because they are making millions selling t-shirts, it's because they turned reason upside down to create a following. And that means doing things that are unexpected and beyond logic (selling t-shirts in stores that look and smells like a bakery?) because they can.
They probably did not require a business case to put a Ninja turtle trading card along with the t-shirt.
Be different, be bold and make a big deal.
Showing posts with label Marketing. Show all posts
Showing posts with label Marketing. Show all posts
Monday, November 5, 2012
Monday, October 8, 2012
Single minded benefit
I have been consulting with a fellow student with a startup on the topic of marketing and branding, and it reminded me of the realities of making the decision to target a specific segment and delivering a single minded benefit. Why is it so difficult?
1. Companies feel that if you target one segment, you are leaving money on the table
2. Business cases do not take into consideration the positive effect on other segments if you are single minded in your message
3. Companies feel that it is less risky to broadly target a $1 bn market than to specifically target a $100 million market
But what is the reality?
1. If you target more than 1 segment, you are confusing the customer
2. Business cases should not be the end all be all
3. It is more risky if you are ambiguous. If you are broad and general, you don't stand for anything.
Stop compromising and pick a segment your product or service can best deliver the benefit! You may then find out that your final plan may in reality impact more than 1segment!!! Actually I am positive that will happen. A crisp clear message appeals to many more than you think.
1. Companies feel that if you target one segment, you are leaving money on the table
2. Business cases do not take into consideration the positive effect on other segments if you are single minded in your message
3. Companies feel that it is less risky to broadly target a $1 bn market than to specifically target a $100 million market
But what is the reality?
1. If you target more than 1 segment, you are confusing the customer
2. Business cases should not be the end all be all
3. It is more risky if you are ambiguous. If you are broad and general, you don't stand for anything.
Stop compromising and pick a segment your product or service can best deliver the benefit! You may then find out that your final plan may in reality impact more than 1segment!!! Actually I am positive that will happen. A crisp clear message appeals to many more than you think.
Monday, June 28, 2010
GEM #4
An absolute awesome read, Scott Bedbury gives his learnings at Nike and Starbucks which, under his watch, became one of the most well known brands in the world. He goes through 8 crucial and distinct principles to achieve brand leadership, but I will yet again condense and give you my top three learnings.
GEM #4: A new brand world
My top three ideas from the book
1. Support innovative products with emotional branding as emotional connections last longer (safety, love, affection, belongingness, esteem and self actualization)
2. Brands are defined by a lifetime of collective experiences and actions... so are WE!
3. Fight for brand stewardship with a CBO (chief branding officer) that will control all aspects of customer experience at every single touch point to ensure brand consistency both internally and externally
GEM #4: A new brand world
My top three ideas from the book
1. Support innovative products with emotional branding as emotional connections last longer (safety, love, affection, belongingness, esteem and self actualization)
2. Brands are defined by a lifetime of collective experiences and actions... so are WE!
3. Fight for brand stewardship with a CBO (chief branding officer) that will control all aspects of customer experience at every single touch point to ensure brand consistency both internally and externally
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