It’s an exciting and crazy time to be a consumer. It’s an even more exciting and crazier time to be a marketer. Consumers’ perceptions of brands are now formed by limitless influences, some stemming from the brand itself and others outside the brand’s control. This puts immense pressure on marketers and brand builders to stay on top of all the tangibles and intangibles that combine to form consumer beliefs.
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An interesting experiment took place in 1907. The English statistician, Sir Francis Galton, asked 787 villagers at a local county fair to guess the weight of an ox. No one guessed the right answer. However, when Galton averaged their answers together, the result was closer to the true weight than their individual answers or any of the cattle experts’ estimates.
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When was the last time a video or TV commercial truly moved you? Sure there are funny or entertaining spots that may make you smile for a minute or two. But what about a brand message that was really relevant to you? One that you felt truly understood you and your day-to-day life?
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In-home interviews are often overlooked as a method to learn about consumers. They can be thought of as too expensive, geographically limited or time consuming. But the learning is invaluable, as it’s a wonderful view into the true context of products and consumer lifestyles.
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So many of us have been there. 'Is this new product worth it, yes or no, yes or no?' Clearly success relies on the magical balance between product differentiation, fit with target market, efficiency of producing the product and ultimate profitability.
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Regardless of the strength of your brand and business, the most successful brands never take their eyes off the prize. That prize—growing loyalty among the brand’s consumers.
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George Bernard Shaw may have put it best when he said, 'Progress is not possible without change.' Change, along with death and taxes, seems to be the one thing you can’t avoid in today’s evolving world.
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Who doesn’t need to be an innovative thinker? You? Okay, stop reading. Everyone else rally around.
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