Today, an in-depth understanding of the modern consumers’ purchase motivations is what the best companies are using to significantly increase the brand value of their products and services. Savvy businesspeople understand that their jobs have changed the best of them into editors and curators – constantly reappraising the emotional lifestyle advantages of the products they sell and demonstrating these benefits to their customers.
During LAMAC’s Premium Video Advertising Summit, Bruce Turkel, Brand Expert and Author of “All about them” discussed:
- How to uncover the motivations of today’s consumer
- How to market in today’s “Post Functional” society
- Why the traditional “Speeds & Feeds” sales strategy does not work anymore and what has taken its place
- The critical difference between content and context, and how it can multiply your sales
- The special sales secrets that are hidden in plain sight
1. Brands need to rethink the focus on their FUNCTION and start concentrating on who the brand is and what it does
All of the conversations that focus on numbers, programmatic and functions suggest that the world operates today, just as it operated 20 years ago.
Smart brands no longer talk about a product’s function and metrics. Instead, they talk about the BRAND VALUE, what it stands for and what the consumers want.
If you look at products based on function, you will find that they are not worth nearly the amount of money they are worth if you base your value on BRAND VALUE.
The days of people buying a product based on its function, are over.
2. Consumers tell the world who they are, what they do and why they MATTER, based on the things they consume
When you tell someone that you are going on vacation, the place you are going says something about who you are. It’s all about aspiration and telling the world, who we are, what we do and why we matter.
This is they same reason why consumers choose to watch a specific content, on their favorite channel and subscribe to one service versus another.
3. Today we are in the post-functional age
We live in an age where everything works, and everything is available instantly. And it applies not just to things we purchase; it applies to entertainment and information.
Instead of marketing the function of a product, we need to start selling BRAND VALUE. More feelings, less facts.
Being in the media business, we assume its ALL about facts (reach, frequency, viewership, metrics, monetization) but the consumers don’t care about that. Consumers care about who they are and what they are trying to accomplish in life.
Premium Video plays a role in getting consumers to connect with brands with feelings, by connecting with them, beyond the facts.
4. Television has evolved but one thing remains: it is all about telling stories
As human beings, what we constantly follow are stories. Today we have the ability to carry those stories anywhere we go.
Television has evolved in a way that allows us to watch content wherever we want and whenever we want. The function of the television has become irrelevant, because as a product, we know televisions just work. What matters is the idea that now we can enjoy stories and connect with those stories not just on the television set.
5. A good brand makes people feel good. A GREAT brand makes people feel good about themselves
We need to transition the marketing messaging and focus on who your customers are and what they want. What will make the difference today is not Big Data, but Little Data.
The difference is understanding who the customer is and what they care about. The products, services, programming and premium placement we have is the perfect way to let consumers be who they want to be.
Watch the full presentation: