MINDLESSMarketing Tricks Fads Gimmicks Marketing tricks Borrowed interest Promotions over products The Ultimate Trick = Cash
MEANINGFULMarketing Genuine Authentic Sustained The “drama” of your offering The story of what makes you meaningfully great. “Customer driven ideas”
MEANINGFULMarketing 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
MindlessMeaningful Price Value It’s Cheap - Buy More - Buy Lots
MindlessMeaningful Impulse Purchase Conscious Choice Who would you be most loyal to?
MindlessMeaningful Borrowed InterestAuthenticity Which will be available long term?
Foot in the Door or “low balling” Fundraising Small request (answer 4 questions) Large request (give money) 34% GAVE Money versus 19% Mindless Trick #1
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 #2
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 Mindless Trick #3
Remembering Names Meeting over food (Pavlovian) Scarcity Power of authority - Jay walker (suit vs. not) - 3.5 times more likely to follow suit More Mindless Tricks
The Bottom Line MeaningfulMarketing MindlessMarketing Long Term Success PriceDiscountingNeeded 1 4 2 1
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 Meaningful Mindless
“If” your product/service is really WONDERFUL then tell that to CUSTOMERS! The Defense of Mindless
Mindless MEANINGFUL Works Short TermWorks Short Term Works Long Term More Profitable
Odds of Winning Odds of Winning New Product/Service Success 15 % Venture Capital Investment 10 % Slot Machine 32 % It’s Madness
The Long Term Trend is Ugly 0% 20% 40% 60% 80% 100% 196119711977 1985 2000 (.Com’s) NewProductSUCCESSRate Journal of Marketing Research & Merwyn Research
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