Well get ready to use all your senses to market your business. Today on Delivering Marketing Joy, I had the pleasure of being interviewed by Kirby Hasseman. Watch Episode 139 right now!
Excerpts from the article:
Earlier this year, PaigeFair reported that mobile ad-blocking software has grown to an estimated 380 million users and 236 million active desktop devices, indicating “interruption” as the leading reason for consumer use. PaigeFair also reported a staggering 74 percent of consumers will abandon websites that require them to disable their ad-blocker software...Promotional products not only allow brand messages to effectively reach their intended audience, they also spread the
word to anyone who sees the product displayed, used or shared. Promotional
products are used daily, and 83 percent of consumers use them more than once brands to engage with consumers without forcing unsolicited advertising. The race to win the consumer path to purchase is contingent on consumers being able to actually remember the brand at the point of purchase. If they can’t recall a brand, they are less likely to
buy the brand.
Moumita Das, author, is
research coordinator at PPAI.
Our increasing attachment to our smartphones has caused a market for sticky wallets that stick onto the back of phones or phone cases to hold credit cards and cash. Since these wallets are inexpensive, it makes it easy for companies to offer these card sleeves as promotional products. Now every time someone pulls out their phone or goes to pay for something, they and the people around them are seeing your logo and design, as well as making the connection between utility and your brand.
The longer a promotional product is kept, the more impressions it makes on the recipient and anyone else who is exposed to the recipient using the product. The majority of consumers keep a promotional product between one and five years. Women may keep a promotional product up to 10 years, whereas men may keep a promotional product for 11 or more years. I know that I’ll be hanging on to my personalized branded items from https://lnkd.in/ePsGP4f #brandlove #sensorybranding
Source: PPAI Publications
Now in its 20th year, Austin, Texas-based South by Southwest (SXSW) has grown from a regional music festival to a 10-day conglomeration of festivals and conferences tackling film, music, advertising and marketing, interactive media and more. Currently in the middle of its March 10-17 run, the SXSW 2017’s Brands & Marketing track, part of SXSW Interactive, explores native advertising, brand storytelling and other topics relevant to promotional products industry practitioners.
SXSW offers attendees dozens of sessions to mix and match a program that suits their needs. Here are a sampling for promotional products professionals wanting to explore the cutting edge:
“Can I Order a Drink Via My T-shirt Yet?” explores digital connectivity and the data and information it can generate about consumers, how this trend will affect buying habits and routines, and what consumers will expect from the brands they engage with.
Automated assistants—software that can perform tasks or services based on user input, location awareness and online access—have the potential to completely change how consumers interact with brands, and the session “The Automated Assistant Revolution” looks at the latest developments in the technology and how its brands can apply it to their salesforce.
In “Bespoke, the New Mass Production. A Fender Hit,” panelists delve into the intersection of new production technology and consumers’ demand for individualized products, and how companies can implement large-scale manufacturing of customized products. Highlighted in the session is the story of guitar maker Fender, where customization has helped it grow its brand and profits.
Imagery can define a brand. The panelists participating in “Contemporary Curation: How Imagery Shapes a Brand” highlighted that a brand’s story, which creates a personal relationship between a business and its customers, is told in part through imagery, and how a brand’s visual identity can strengthen or confuse its story.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Charles Darwin
|The Power Of InnovationInnovation plays a key role in business. It drives change, and change can lead to new revenue opportunities for your business. Innovation can produce sudden and dramatic changes to the way business is done and the way consumers experience the products and services made by companies.
Innovation, as described by innovation expert Jake Nielsen:
A lot of managers think of new markets in terms of geography, such as entering an emerging market like India or China. While that can be highly valuable, new market innovations can also refer to use cases, such as applying a current product in a new way and sometimes even for a different segment of customers. The classic example often cited is Arm & Hammer baking soda. The primary use for baking soda is as a leavening agent for dough when baking bread. However, after baking soda had been in the market for a while, Arm & Hammer discovered a trend among its customers—using baking soda as a deodorizer. People were putting an open container of baking soda in their refrigerator (baking soda does not need to be refrigerated) simply to neutralize any odors from foods. This prompted the company to start marketing baking soda as a multi-purpose product rather than for use only in baking.
There are several things to consider when exploring new markets for your product including:
Adjacent spaces: What industries or uses would you consider as adjacent? Often adjacent spaces are fertile ground for introduction of your existing product(s) or service(s).
Other jobs to be done: Like in the Arm & Hammer example, baking soda was capable of performing multiple jobs for the customer quite well, even though at the beginning Arm & Hammer was only thinking of the job of baking. What other jobs does your product do? Could those be marketed to other customers?
Customer usage studies: For some products, customers may already be using your product in new and different ways that you haven’t considered yet. Market-research methods are best suited to bring those use cases to light.
New market innovations can be extraordinarily successful if executed well. In some cases, all it takes to introduce a product into a new market is educating your customers, both current and new, about the other things your product can do. This can either be a cost-leadership or benefit-leadership strategy. If you have a product that is basically a premium-value product (benefit leadership) in its existing form and you manage to successfully apply that product to a new use case then the value of your product will need to be weighed in light of the alternatives for the new use case. For example, if Arm & Hammer baking soda costs $4 a box while most other baking soda brands cost around $2 a box, then it’s safe to assume that the Arm & Hammer baking soda is viewed as a benefit-leader product.
However, if most refrigerator deodorizers cost an average of $8 a bottle, then the Arm & Hammer baking soda is essentially a cost leader against the alternative deodorizers. This scenario is often what can make some products so successful when applied in a new way.
Ready to learn about one more strategy for innovation? Read PCT tomorrow and get tips on being disruptive.
Source: Jake Nielsen is the founder of TheInnovativeManager.com, which includes the tools and trade secrets great innovators, entrepreneurs and thought leaders have used throughout history to change the world. He is also a contributor to Innovation Excellence, an online home of the global innovation community, building upon a rapidly growing network with thousands of members from over 175 countries.
Compiled by Cassandra Johnson
I had the opportunity of contributing a few best practices regarding trade-shows – knowing that we’re entering the trade show season right now and figuring out how to prepare, which exhibitors to see and who to set up appointments with so we get the most from our investment and the show – this article will be a helpful resource to you throughout the 2017 trade show season.
If you’d like to connect with me directly about any of the information shared in this article, please email me and I’ll respond and schedule some time with you.
The image is showing you how the @mandalaybay uses their #brandedmerchandise – items sourced at a recent trade show and then presented to the #hotel for them to create a memorable experience for their guests!
Have a restful weekend and a prosperous trade show season!
I have to share with you a book (a resource) titled Create Your Space by Said Baaghil – you’ll learn how, as a business owner, to create your own space and most importantly understand how the dynamics of brand and marketing are changing and evolving…break through to the other side of conventional marketing and disrupt your competition. Said provided me an early excerpt of his book and I was fortunate to have my review included in his book. http://tinyurl.com/za7vfw6