Monday, August 25, 2008

The Problem With Marketing Today

and decreasing brand loyalty,
" lower return on traditional advertising,
" a noisy and cluttered marketplace,
" poor ROI,
" poor sales conversions,
" websites that don't get traffic,
" social media not living up to expectations,
" no one paying attention to your product or cause...

Is all because we have too much choice.

Do the math: more products/services/competition for attention are being introduced in greater numbers every year. Yet time in a day has remained the same - 24 hours, that's all you get, and 8 (for most people) are spent sleeping.

People don't believe in products, services, or causes that don't match their world view. It's why targeting the masses doesn't work like it used to. It's why when creating a new product, marketing needs to be at the decision table along with R&D, not regulated to just promoting it afterwards. It's why going after the "who" over the "how many" is much more effective to cut through the noise and attention deficit people.

Creating products for the masses that no one really cares about is a great way to get lost in the shuffle.

Creating products that people want (think market research), that are so remarkable your target audience feels compelled to tell their friends. That's a great way to build brand loyalty, and solve all the other problems above.

There and endless mediocre products to choose from, but very few that edgy, worth paying attention to, and charging a premium for.

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