Category Archives: Marketing

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>>

Should You Ignore What Your Customers Want? The Great Winemakers Do

In the article “Should you Ignore What your Customers Want? The Great Wine Makers do” Gregory Carpenter, writer for Kellogg Insight digs deeper into why and how winemakers stray away from the typical marketing customer centric approach. The how, comes from not focusing on selling the product itself but instead selling the vision behind the product. The why? Simply, because it works. Within other industries, has this “Market driven-firm” approach deemed to be successful. Companies like, Apple and Starbucks have seen incredible success by following this strategy. As Steve Jobs has said, “Our job is to figure out what customers are going to want before they do”. Read More>>

 

Startup Names May Have Passed Peak Weirdness

Company names like Standard Oil and U.S. Steel seem to be a thing of the past, startup’s names within the last decades have been nothing short of unoriginal. Start ups like Uber and Hulu are names that are now apart of our everyday vocabulary. It has been a trend to give your company name: creative misspellings like “Lyft”, Puns like “Petsmart” or completely made up words like “Google”. However, how long will this naming trend last? Or will history repeat itself, will companies start to go back to the basics? Read More>>

 

The Four Stages of Sales Compensation Structures in Early Stage Startups

Your startup is just getting off the ground. You might have a few account executives and a sales leader in place; maybe some revenue and a handful of customers. I’ve seen four stages in early stage software companies. Some businesses employ all four, others just use one or two. Knowing about the options ahead of time may help you figure out the right sales plan for your startup. Read more>>