Halve Your Marketing Budget and Double Your Results
“My objective is to offer SA delegates insight to halve the marketing spend and double their results.” Martin Lindstrom
These are just a few of Martin Lindstrom’s insights he shared recently in a radio interview with 702. Insights on why people buy, what influences brands and how companies can deal with brand disasters…
Don’t be blinded by social media.
77% of decisions are based on face to face communication with only 6% of decisions from social media. It is just about impossible to build a positive brand on twitter.
Brand ethics and priorities for companies.
Branding is about shareholder value and it is consumer sentiment that can dramatically affect your share price.
– Prepare. Martin Lindstrom is particularly puzzled about the SA meat scandal. They should have seen it coming. It had been well publicised in Europe months prior. His advice is to monitor and track your brand sentiment continually. The Domino’s Pizza crisis – which affected their share price by almost 10% in 24 hours – could have been avoided as the offensive you tube posting had been there for 6 weeks before it went viral.
– React Dramatically. Brand disasters need quick decisions or time runs out. Mandate someone to respond dramatically and give them the money to tackle the problem.
What brands need to do to survive ahead of everyone else.
Acknowledge brand equity is irrational. Get your house in order and listen to the consumer. According to Lindstrom there is a disconnect happening with brands right now.
How could winter, Christianity or the ANC affect your brand?
According to Lindstrom, religion, the weather and your government regime are the 3 most important factors that affect brand buying behaviour.
Find out more on 16 May at The Progress Conference on Branding, Retailing and the Digital Marketing Revolution …
