Transcript Meaningful Marketing #1

The latest report from
what is now a 7 year
research effort.
Through Intense Investment
of
Time
Money
Effort
Anyone can make a sale
of just about anything
Our Mission
is to show
you how to
Sell MORE with
LESS Effort.
How to more
EFFECTIVELY
and
EFFICENTLY Sell
• Your BRAND
• Your IDEAS
• Your Product
• Your Service
• Your Self
Today’s program is based on:
data on Consumer, Industrial
and B to B marketing.
1,337
12,424
4,129
294,732
3,846
3,057
Advertisements
Brands
B-to-B Customers
Consumers
Industrial Customers
Sales Reps
The wisdom of 2,000+ academic studies
PLUS Original Quantitative Research
Data Proven Means
Reliable & Reproducible
The TRUTH IS
Long Shots Do Win
In the USA
1 in a Million
Can happen about 250 times a day!
Using Data means
tilting the odds
In your favor!
Instead of praying for
long shots.
ACT 2
There Are
Three Types
of Marketing
MEANINGLESS
Marketing
Say Nothing • Does Nothing
MINDLESS
Marketing
Tricks • Fads • Gimmicks
• Marketing tricks
• Borrowed interest
• Promotions over products
• The Ultimate Trick = Cash
MEANINGFUL
Marketing
Genuine • Authentic • Sustained
• The “drama” of your offering
• The story of what makes you
meaningfully great.
• “Customer driven ideas”
MEANINGFUL
Marketing
Is about BRAND believers
It’s about believing in the brand’s
point of difference.
Mindless and MeaningLess
S.O.S. - Same Old Stuff
“The ‘surplus society’ has a surplus of
similar companies, employing similar
people, with similar educational
backgrounds, coming up with similar
ideas, producing similar things, with
similar prices and similar quality.”
From the Book
Funky Business
Ease of Execution
Mindless Marketing
• Easiest to execute
• Only involves sales/marketing
MEANINGFUL Marketing
• Harder to do
• Changes to product/service
• R&D, Manufacturing, Operations
Mindless
Meaningful
Price
Value
It’s Cheap - Buy More - Buy Lots
Mindless
Meaningful
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are needed to see this picture.
Impulse Purchase
Conscious
Choice Who would you be most loyal to?
Mindless
Meaningful
Borrowed Interest
Authenticity
Which will be available long term?
Mindless
Meaningful
Hype
Substance
Mindless
Meaningful
Short Term
Enduring
Both can sell today -- one endures.
Mindless
Meaningful
Gimmick Focused
Product
Focused It’s Cheap - Buy More - Buy Lots
Mindless Trick #1
Foot in the Door or “low balling”
Fundraising
• Small request (answer 4 questions)
• Large request (give money)
34% GAVE Money versus 19%
Mindless Trick #2
Door in the Face or “Concession”
Donate Time With kids
• Huge request (2 hours weekly)
• Concession (2 hour zoo trip)
When huge then concession 50% agreed
When concession only 17% agreed
Mindless Trick #3
Monkey See, Monkey Do
Stopping on street and looking up
• 1 person = 4% looked up
• 5 people = 18% looked up
• 15 people = 40% looked up
Sadly
• Auto, Plane Accidents, Suicides
More Mindless Tricks
• Remembering Names
• Meeting over food (Pavlovian)
• Scarcity
• Power of authority
- Jay walker (suit vs. not)
- 3.5 times more likely to follow suit
The Bottom Line
Mindless
Marketing
Meaningful
Marketing
1
2
Price
4
Discounting
Needed
1
Long Term
Success
The Defense of Mindless
We use Mindless Marketing just to get
customers attention. Then we convert to
a MEANINGFUL relationship through the
wonder of our product/service.
Every marketing effort is a blend
Meaningful
Mindless
The Defense of Mindless
“If” your product/service
is really WONDERFUL
then
tell that to CUSTOMERS!
Mindless
MEANINGFUL
Works Short TermWorks Short Term
Works Long Term
More Profitable
Why is
MEANINGFUL
Marketing
So Important Today
It’s Madness
Odds of Winning
New Product/Service Success
15 %
Venture Capital Investment
10 %
Slot Machine
32 %
The Long Term Trend is Ugly
100%
New
Product
SUCCESS
Rate
80%
60%
40%
20%
0%
1961
Journal of Marketing Research & Merwyn Research
1971
1977
1985 2000
(.Com’s)
Information Explosion
Today’s Customers
Are Short of Bandwidth
• 40,000 Grocery Store Items
• 120,000 New Books/Year
• 3,000 Advertisements/Day
“Humanity publishes as many words
each week as did all of human history
up to 1800.”
New York Times
Customer Changes
Today’s Customers Are Smarter.
Increasing Education
• 1960 -- 4 in 10 graduated High School
• Today 8 out of 10 graduate
Customer Changes
Today’s Customers Are Wiser.
Increasing Age
• 1960 - 18 million adults age 65+
• 2000 - 37 million adults age 65+
• 2040 - estimated 74 million