Viadeo have releasd a 5 minute video interview with Michael Nutley, NMA Editor… following his excellent speech at Social Media Week London
Even in this short interview, Michael touches on the main themes of his talk – how advertising disappears by becoming more relevant, how privacy can be kept as a non-issue, and the dangers of vanity measurements.
The Institute of Direct Marketing invited Rory Sutherland to talk to his meme, Behavioural Economics [video here: kudos to the IDM 😉 ] It’s worth 90 minutes (yes, *minutes!* of any marketer’s time), so I won’t rehash his subject matter here. The audience was left hanging, wanting more; and asking themselves what they might do differently. [Rory’s excellent & extensive reading list ]
Here’s a thought: think like a guerilla. [ See Ries-Trout’s Marketing Warfare for more on Guerrilla Strategies ] Not the majestic mountain creature – rather, think like an opportunist. Where niches appear, and can be taken on quickly & profitably, then do. Go get those sales. (& then bug out when the opportunity is gone)
And that thinking applies equally to major corporate brands as it does to sme organisations.
Diamond Shreddies isn’t a long-term product – they’ll be gone from the shelves after the sales bubble deflates – as did green Heinz tomato ketchup, and the myriad of Marmite variants. [hate it]. These are not just products that happened “because we can” – they’re the product of a fertile imagination, that encourages purchase with raw emotions – fun and being different, for example.
Half-hearing a radio debate on the inability of sales promotion to affect long-term brand loyalty, I’m left wondering how often brand managers calculate the impact of a campaign that puts value into their product, by changing the shape, colour or taste of their product – for a limited term – might not be a better use of budget.
In this social media era, maybe it’s better to spend money on adding value & interest to a product, so that it fans promote it through their personal, social media.