The Consumer Connection Roundup features the top articles and blogs that catch the attention of the Motista Team each month on issues and events related to consumer connection.
Here are the most noteworthy articles on marketing and advertising trends we read during the month of November. This month’s articles range from discussing the relevance of the 4P’s to learning marketing strategies from three of hip hop’s social media gurus. If we didn’t include articles that you thought were especially provocative, please share them with us in the comments section.
Articles of the Month for November:
- Why do B-schools still teach the famed 4P’s of marketing, when three are dead? by Jens Martin Skibsted and Ramus Bech Hansen, Fast Company – The advent of the Internet has changed marketing forever and ultimately rendered previous marketing strategies, like the 4P’s (promotion, place, price and product), antiquated. We agree with the author’s new “golden rule” for today’s hyper competitive market: “The only way you can increase the value of your brand is by increasing the value of your offering.” And the only way to do this is to leverage the emotional connections that motivate your customers to act.
- Engagement: Key customer loyalty indicator by Mark Johnson, MediaPost – How valuable is customer satisfaction? Some brands would argue that it is the most important marketing indicator, yet this survey shows that customer satisfaction is no longer king. How important is satisfaction if a customer can be completely satisfied with a company’s product or service, but chose not to continue to purchase that product or service? This is where emotional connection comes in – the more emotionally connected to a brand, the more loyalty the consumer will display. Our recent data release that examined what drivers brands should pursue during the holiday season yielded the same conclusion.
- Starbucks forges ‘Moments of Connection’ by offering experience by Maureen Morrison, Ad Age – It was a bold move by then-chairman, current-CEO of Starbucks, Howard Schultz, when he announced that the Starbucks brand had deteriorated in conjunction with the decline of the average number of transactions per store. The experience that propelled Starbucks into one of the world’s largest global brands had changed so much that former advocates began to look elsewhere for their java fix. Starbucks realized that offering products customers want and providing a positive experience is the best form of marketing, and the company was able to turn things around after returning to the in-store experience that previously defined the brand.
- Sherwin-Williams is painting a new picture of marketing by Keith Levy, Forbes – Writer Keith Levy states that, “It’s the age-old advertising debate and most people would argue (myself included) that the emotional connection is almost always the more powerful and enduring connection to the consumer’s wallet.” We couldn’t agree more. Determining how to become a part of a consumer’s life will result in increased emotional connection, and the “Color Chips” campaign by coatings industry leader Sherwin-Williams has done just that and helped the company grow its DIY market share.
- 3 lessons learned from rap’s social media kings by Dita Quinones, iMedia Connection – This article offers great insight into marketing strategies that three of hip hop’s biggest names implemented to became social media gurus. The underlying theme of how MC Hammer, Soulja Boy and Nicki Minaj become so adept at Web 2.0 services like Twitter and Facebook – emotional connection. Writer Dita Quinones points out that, “Once the emotional connection is made, fans will actually pay $300 — even if it’s their last dollar — for a Jay-Z ticket because they have an emotional connection with him and his brand.” You’ll be surprised by the amount of advocacy fans will show when they are emotionally connected!