Category Archives: Marketing

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 >> 

5 Ways to Know Your Customers Better than Your Competitors Do

To develop an efficient marketing strategy, it is important to understand what the customers want and how the company can create value into their product better than the competition. The goal is to a better sense of what the customers want than your competition, and even the customers themselves: this is customer insight. To achieve superior customer insight, five different simple steps are recommended. These are: interacting personally with the end user, spend “quantity time” with the customer more than your competitor, watch customers buy your product, watch customers use your product and lastly engage end users as product designers. Read More >> 

A Surprising Simple Way to Encourage Customers to Take Risk

Marketing researchers have explored many factors that influence the customer’s decisions while choosing a product over another. Some such as personality traits or how ads frame a question are a bigger focus than others, such as how your surroundings affect your decisions. Indeed, in Ati Jami, research assistant professor of marketing at the Kellogg school stipulates that things in our surroundings that seem irrelevant to the decision can still influence our choices. New studies focused on viewing images reveals that high elevation can push people to take more risk, suggesting that high elevation make us feel more in control. But these images are not suitable for every situation and marketers should test different viewing images to gauge the customer’s reaction. Read More >>

Take 5: Fine-tuning Your Powers of Persuasion

Kellogg company is sharing five tips to get people to agree with your idea and jump on board. Firstly, you need to persuade people that your idea is a good idea. This is achievable through strategies such as letting the audience know what they are missing, let them experience the benefits and win a critical mass that will influence the surroundings. Secondly, it is important to understand power dynamics to persuade people to agree with your idea. Indeed, to persuade highlighting your competence or appearing warm depend on your audience and how equally powerful they feel in the situation. The better the power balance between communicators is the higher the chances are to persuade your audience. Thirdly, the use of communication tools for complex idea such as visuals, storytelling, and stressing audience participation can help others in buying into your product. The fourth tip shared by the Kellogg company is on ads. Customers consider some marketing tactics to be more trustworthy than others, therefore it is helpful to know which ones to adopt. Lastly, to persuade your audience, you should study how room lighting shapes decisions as research shows that dim lighting can influence us to pick what we want rather than what we think is approved by the others. Read More >> 

What You Need to Know about the Newest Frontier of Brand Storytelling​

Transmedia storytelling is a marketing approach in which the idea is to create a coordinated story experience to the consumer through the use of the four P’s: pervasive, persistent, participatory, and personalized. This approach first started to emerge in 1999, with the Blair Witch Project. This was a fictional documentary with a series of different events to help find missing persons. This story kept audiences on their toes and eager to watch the next episode in order to help find the missing people.  Since 1999, transmedia storytelling has been able to take off with the help of social media. When brands use this approach to marketing, audience members are able to actively participate through various social media channels. When the brand is able to actively communicate with their audience it helps to build a connection and ultimately create brand loyalty. Read More>>

 

Brand is More than Meets the Eye

A subtle but powerful shift has been moving through the realm of startups in the past few years. With the number of businesses entering the market every year exploding and with very few barriers to entry, new ventures have to dream bigger than stealing market share from established corporations — they must also defend their market share from startups with similar offerings who are entering the market at a similar time. With a constant influx of new ideas, it is no longer enough to simply offer a number of features and an incredible user experience. Those have become commonplace. According to Emily Heyward of TechCrunch.com the difference between success and failure for a startup often hinges upon branding. How exactly can you brand your company to position yourself above the competition? Read more>>

To Improve Customer Experience, Embrace the Outliers in Your Data

Many successful companies are starting to veer towards the idea of using customer analytics in order to get a better grasp of how their customers interact with their products or services. Using information from customer analytics has come to help many companies, in a 2018 survey SAS Intel found that over half of company revenue growth came from the use of customer analytics. However, many business leaders are missing crucial information when studying this data. When studying the data many businesses ignore the outliers, when in fact this might be the top information that companies need to be looking at. These outliers can highlight a products biggest strengths or weaknesses which can help companies really understand what their target customers really want. Read More>>

How (Not) to Change Someone’s Mind

Changing someone else’s opinion on a touchy subject like politics or religion is not an easy task to come by. However, there are two tactics that have shown to do so: encouraging people to engage in perspective-taking—putting themselves in someone else’s shoes—as well as asking people to come up with reasons to support something they oppose, or vice versa. Kellogg researchers wanted to put these tactics to the test and combine them, asking people to generate arguments from someone else’s point of view. The researches went to work and conducted an experiment with users from Reddit- a popular forum to swap memes and analyze pop culture. The experiment had these users offer an argument from a political view from an opposing view from their own. Although, the researchers combined these two tactics it was clearly shown in the results that in this case two plus two does not actually equal four. Read More>>

Startup Sales — 5 Common Sales Mistakes by Founders

Sales in business are an instrumental part of what makes or breaks a company. For start ups, this can not ring more true as during the first launch of your product you will discover what exactly you might be doing wrong. In order to discover what your mistakes are before this first launch founders must avoid these 5 possible mistakes; weak outreach, low prices, incorrect customer profile, hiring salespeople too early, and assuming “yes” means payment. Avoiding these possible mistakes at the beginning stage of your venture will help you to start and retain a successful business. Read More>>