Critical mass for a product is the point at which it becomes self-sustaining. Adoption of the product reaches a point where the product becomes profitable and continues to be profitable over time. In the case of some modern products there is another challenge. Social networks, for another example, aren’t very much use if none of your friends, family, colleagues, etc. is actively involved in using them.
If you want to generate more engagement with your audience, consider doing more live streaming to social and react in real-time to events. While Facebook challenges still work, they aren’t as easy as they used to be with limitations on competition sharing rules. Therefore, consider how you can engage your audience in a fun video challenge like TikTok and use a soundbite to brand it.
Think about how you can create demand and scarcity with your products. This marketing campaign worked out spectacularly and their sandwiches sold like hotcakes. In fact , as they began to sell out, it drove the demand through the roof. It wasn’t that review sites were unheard of at the time, but this company approached it a little differently with the social angle. It may seem obvious now, but the idea of combining social networking and online reviews helped Yelp founders gain traction when they first launched. Since beginning this campaign, the company has nearly doubled its worth to a$4. 5 billion valuation, proving the importance of joining a movement and listening to what your customers really want.
Livestreams can be a great way to engage customers who want to attend your event, but can’t for whatever reason. If you are delivering an exceptional experience for attendees, then broadcast it. Consider streaming your keynote speaker or special segments of your event that provide the most value and pitch it as “just a sample” of the full event. While starting a feud with your competition can be a risky move, the best takeaway from this is that they created real scarcity. They brought the chicken sandwich back to the menu as a regular item, though it hasn’t had nearly the sensation that it originally had when launched as a specialty item.
They both require a critical mass of adoption before they deliver the experiences they promise. When a product goes to market it enters an adoption phase with users.
While bringing in celebrities may not be possible, think about the value you are actually providing to the world. If you create real value for a good cause, your event will market itself and people will want to promote you. Sure, they make quality shoes, but that isn’t the reason why their loyalty customers spend 3X as much money on athletic footwear as their non-members.
Dove produces some of the best marketing campaigns with their touching commercials that go against the grain by changing beauty standards. Dove understands that the solution they are selling is only part of the larger picture. Women don’t just want to look better; they want to feel better. Start by offering a great service and then build a referral program that brings word-of-mouth business. It’s often more cost effective than buying ads and is much more fruitful since friends love to give each other recommendations. Begin by targeting one particular type of customer (in Lyft’s case it was tech entrepreneurs), and allow them to spread your message. MobileMonkey, a Facebook messenger chatbot for businesses, certainly practices what they preach.
The campaign was successful because it targeted their ideal customers who are proud to be remote. Therefore , it wasn’t that difficult to encourage them to post about where they work. In the event of a recession, if the industry you serve is hit hard, think about how you can partner with a relief program or even start one yourself. You don’t necessarily have to give money, but putting time and effort into it can be great branding exposure and leave you ahead of the competition when the economy turns up. Whenever a popular event occurs, Oreo is quick to catch on and incorporate it into their marketing. While many brick-and-mortar businesses have been struggling, Sephora has managed to maintain strong growth by expertly merging the digital experience with offline retail.
Each user is looking to get value from their product but each user exists in relative isolation from other users. If you only have a small user base; it makes it difficult for users to share ideas about the product with each other. It makes it less likely that new users will learn about the product too by word-of-mouth because they are unlikely to encounter another user in their day-to-day life.
Marketing is an intricate field that contains many processes, from advertising to conducting research studies on a target audience. Marketing is a process that involves design, creation, research and data mining about how to best align the idea of a product or service with the target audience.
Marketing helps to define the product even more than the actual product does. Almost all the brands discussed in this list are well established and these campaigns were certainly not their first ones, so don’t be discouraged if your first campaign isn’t a huge success. Start by getting a firm understanding of your audience’s needs, desires and pains.