This blog about new business trends is inspired by Wayne Gretzky's quote.
When asked what made him stand out from many other hockey players, Gretzky
responded: "A GOOD hockey player plays where the puck is. A GREAT hockey
player plays where the puck is going to be". Can the same principle be
applied to business? (More)
Check out this excellent and inspiring video and article by Jonah Sachs on “Winning the Story Wars” and on Inadequacy Marketing vs. Empowerment Marketing.
Here is a quick recap of Sach’s ideas in his own words:
“Since the emergence of modern marketing, professional communicators have relied on the “inadequacy approach”. Tell your audience that the world is dangerous, that they lack what they need, that they don’t quite fit in. Then offer the magic cure — your product.
Can marketers get in on this? Of course — if they catch up with the times. They need to recognise that nobody wants to push an anxiety-provoking message to their network. That would destroy the sender’s social capital. So such messages can’t find viral pick-up. But messages based on empowerment, which make the audience the hero and remind them of how full of potential they are, are proving to be social-media ready.”
We live in the age of word of mouth and viral marketing. Word of mouth is the most powerful instrument of marketing according to Seth Godin. In his books “All Marketers are Liars” and “Ideavirus”, Seth Godin outlines the principles of successful word of mouth marketing and story telling. I have tried to recap those facts and principles for you in only ten points:
1) No one buys facts, they buy a story
2) Either you are going to tell stories that spread, or you will become irrelevant.
3) Great stories match consumers’ worldview ; each person has a different worldview, i.e. set of beliefs and biases. Their worldview is the lens they use to determine whether or not they are going to believe a story.
4) Frames are elements of a story used to leverage the worldview a consumer already has. In other words, frame is a way you hang a story on to a consumer’s existing worldview.
5) You have to live the story. The story has to be true and authentic.
6) People only notice the new.
7) The best way to create a story is to tell that story to yourself
8) The best stories promise to fulfill the wishes of a consumer’s worldview. They may offer a shortcut, a miracle, money, social success, safety, ego, fun, pleasure, belonging notice the new.
9) Invent entirely new story that is framed around the worldview of an underserved community.
10) The only story that work and spread are the “I can’t believe that!” stories… your story must be remarkable (“a purple cow“). Tweet
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How are marketing departments allocating budgets? According to research published by Marketing Sherpa, here is how many respondents (% of 821 participants in the survey) plan to INCREASE their spending on the following marketing tactics:
Website: 69% (i.e. 69% of surveyed respondents said they are likely to increase their spending)
e-Mail marketing: 64%
Social media marketing: 63%
Online display ads: 51%
Mobile marketing: 48%
Event marketing and trade shows: 26%
Direct mail: 25%
Print ads: 12%
TV ads: 7%