Category Archives: Marketing

The reason why marketing hires fail in startups

The marketing skills are divided into 3 different segments namely product marketing, demand generation, and brand marketing. Each kind of marketer possesses critical skills that are imperial to the company. However, marketing hires frequently fail in a startup because they do not hire marketors with the right skill set at the right time, which leads to the question of who should be hired first?  In the past decade hiring  a product marketer at start has fetched consistent success to Startups, the reason behind that is the fact that by laying down a firm foundation for the company in terms of the target audience and what should be conveyed to the audience, further marketing is made  more efficient by having  campaigns that are well-directed and are more relatable. This paves way for the demand generators and brand marketors to reap benefits from the already existing framework of the company and the company to thrive better because they have a better understanding of their customers. Read More>>

How to incorporate early-stage brand management into startup plans.

Roese, a professor of marketing at the Kellogg School who studies the psychology of judgment and decision-making claims that as a company develops its branding they make a transition from purely functional aspects of the product and service to the psychological side, that is critical for the creation of a long sustaining brand. Roese suggests 3 methods that the entrepreneurs can adapt in order to include early-stage branding into their startup plans.

  1. Define the personality of your brand i.e how it would behave if it was a person and this helps the company to have a vision and set up the guidelines for future growth.
  2. Develop a brand design Plan, Entrepreneurs will have to find the right balance between specificity and abstraction while defining their branding elements, so that there will be room for improvement keeping the same general theme.
  3. Having a well-defined brand, This makes the brand easily identifiable and ensures that the customers are familiar with your company even as you scale into new markets. Read More>>

Care is the new commerce

This is a marketing strategy or mentality adopted by tech-savvy companies like Amazon, Uber, Netflix and also by companies such as Nike in order to provide their customers with a personalised service experience on multiple platforms. This method also involves reducing the response time involved in replying to a customers request or grievance call, not only does this help the companies stay relevant to their customers but also fosters new business opportunities. Read More>>

The power of Story Telling

Derek Rucker, a professor of marketing at the Kellogg School, and PhD student Rebecca Krause were intrigued by the fact narratives that help as a powerful tool for persuasion sometimes backfire to a great extent, they further studied the link between narratives and persuasion and  understood  that in many cases the reliability of the facts being used in telling a story is the deciding factor , If the facts are very strong it is better to convey them directly in the form of lists rather than narrating them. However, the advantage of the story is that it can hinder the listener’s ability to process facts and you could get away with flimsy facts. Read More>>

The Attraction Effect

Franconeri a professor of management and organizations at the Kellogg School and a professor of psychology in the Weinberg College of Arts & Sciences claims that the newspapers and other marketing platforms take advantage of a cognitive biasing phenomenon known as the Attraction effect or the Decoy effect, this simply involves making certain options more appealing than the other thereby persuading the user to make irrational and quick decisions. Further, he tried to study the effect of interactive visualisations on decision making of the readers, it was proven that unless a complex decision making was broken down into a series of simpler ones the users still made irrational decisions. he thus concludes that visualisations are only helpful when they help, rather than replace human judgement. he also claims such interactions between humans and computers are the future of complex decision making. Read More>>

Guide to a Perfect Pitch

1. Keep the pitch short and Focused:

Timing is crucial so take lesser time to pitch to make it better.

2. Turn your Pitch into a story

This is the best way to captivate your listener’s attention.

3. Explain exactly what is unique about your product or service:

Go back to the drawing board, if your product or service is not unique compared to the one already in the market.

4. Explain who your target audience is:

Use Demographics and psychographics to pinpoint your target audience.

5.Explain how you are going to obtain these customers:

Proposed Marketing/campaigning ideas, technique and methods to be included in the pitch.

Read More>>

Meet the Algorithms Planning Your Online Purchases

All online shoppers are becoming familiar with algorithms tailored to be the perfect salesperson. With the rise of AI and machine-learning in e-commerce, algorithm-driven personalisation of the customer’s experience is becoming crucial and deternmining the role of Ai in economy is very important. Indeed, using AI to define a marketplace can be messy as some purchasing pattern variants depends on unstructured data such as customer’s reviews, so it is important for entrepreneurs to understand the economic sturcture of the problem when applying AI to solve it. Jack Chua, Direct of Data Science at Hotwire shares 3 tips for a succesful implementation of algorithmic business solutions. Read More>>

How To Create A Brand Name That Works

While establishing a brand, naming it is crucial as the name is a short ad campaign for your product and can determine how successful it will be on the market. So, how to find a name that will resonate with the customers and help you build an empire? Paul Earle discuss strategies attached to product relevance, emotions and marketablity that can help you find a brand name that works. Read More >> 

A Non-scientist Guide to the Neuromarketing Toolkit

Neuromarketing uses advanced technologies to measure involuntary human response, like this acquiring a purer idea of what the customer will prefer. Through majoring brain region activity, it is possible for even non-scientists to use neuromarketing tools. Six commonly used technologies are helpful to understand the strengths and weaknesses of neuromarketing. These are : Functional magnetic resonance imaging (fMRI) which measures blood oxygenation in the brain; Electroencephalography (EEG) which records changes in brain activity; Function near-infrared spectroscopy ( fNIRS) which uses light that penetrates scalp and brain tissues; Eye-tracking devices which measures consumers visual attention; Skin conductance response (SCR) which captures the changes in skin electrical resistance and lastly Facial affect recording (FAR) which analyses facial muscle configurations. Read More >>