We’ve all heard the old adage, “Two heads are better than one.” I, for one, experienced the accuracy of this statement during grad school. Getting an outside opinion(s) almost always yielded a better outcome. Likewise, in many cases, two companies are better than one. Tory Burch and Shiseido are betting on that to be the case in their joint venture. On August 7th, the two brands announced that they would be entering upon a long-term partnership agreement which would give Shiseido the exclusive worldwide license to develop, market and distribute Tory Burch beauty products. The agreement will take effect on Jan. 1, 2020. The two brands have very different stories…
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The Road to Brand Distinction is Congested with Competition
When I say “cosmetics” names like Cover Girl, L’Oreal and MAC probably come to mind. These brands are established and are top of mind for most people who use cosmetics. But they didn’t gain their status in the beauty industry overnight.
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Why customer relationships should matter to marketers
Consumer behavior dictates marketing strategies. It really is as simple as that. Fortunately for marketers, science shows that people are easily influenced at the subconscious level. With a little work, they can be persuaded at the conscious level if you can speak to their immediate pain points at the appropriate time in the customer’s journey. What companies do after they obtain their customers is even more important than the measures they took to reel them in. According to Rightnow Technologies, 73% of customers leave a brand because they are dissatisfied with customer service.
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Can of soup, $5. Celebrity endorsement: priceless.
It’s Sunday night, and I just ordered my groceries for the week through Instacart (if you haven’t tried this grocery delivery service yet, I highly recommend you do). I decided to try a new and unfamiliar brand of soup, just because of the celebrity name on the label. Notice: JavaScript is required for this content.
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The end is the best place to begin
Marketing is essentially telling your brand’s story. However, the way we tell stories has dramatically changed. Gone are the days of the 30-second television commercial. Marketers are now charged with conveying their brand’s message in 10-15 seconds, due to the shortened attention spans of consumers and increased competition for their attention.
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The cost of confrontation
I’ve been thinking a lot about the desire fulfillment aspect of the buying decision process. A friend told me about a time he went to a restaurant and, while he was highly dissatisfied with the food, service, and ambiance, he still shelled out $70 for an experience he deemed to be worth only $5. The cost of avoiding an unpleasant confrontation with the waitress and restaurant manager was valued at $65 for him on that given day.
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Throw caution to the wind — buy the palette
This week I did something some people would say is crazy. I bought an eyeshadow palette with a price tag of $125. But it’s not just any eyeshadow palette, it’s the latest offering from legendary makeup artist Pat McGrath, the Mothership V. I share this Achilles heel with many other people who enjoy her brand. Pat McGrath Labs, the official name of her makeup line, is now worth over $1 billion…and it’s only three years old.
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Everyday is a good day to be a Packers fan
On the brand hierarchy pyramid, the tip-top echelon is fanaticism. As a Wisconsin native, I immediately thought of Green Bay Packers fans, the ultimate sports fanatics. Not only do Packers fans, more affectionately known as Cheeseheads, fill Lambeau Stadium at every home game, but the Packers are also one of the top NFL teams to drive up the ticket prices of road games (by 46% more than face value!). The brand equity of the Packers is as solid as the frozen tundra they perform on.
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White space, the new frontier
We live in a boisterous world. Our phones are continually chirping and chiming with the latest tweets, social media notifications and breaking news headlines. A fraction of these updates is useful or even necessary. Most are merely distractions that prevent us from being fully engaged with the things that are important. Yet the demands for our attention are constant. In our over-stimulated lives, free space is a luxury. As marketers, we can make this precious commodity available to our audience in the form of white space in our advertisements.
