Author’s Note: Here are 10 marketing strategy examples that demonstrate how simple changes in your strategy, tactics, and customer insights can dramatically supercharge your results. These stories are not listed in any particular order, and you can start with any one of them. Be sure to download a pdf copy before you leave.
1) How to Instantly Increase Your Value and Desirability
… a surprisingly simple way to get people to value you more!
How to demonstrate intrinsic value is a common marketing strategy question. Dan Ariely, a professor of psychology and behavioral economics at Duke University, relates a story of meeting a locksmith. The fellow complained that when he began working as a locksmith he would often take a long time to open the lock, and sometimes in the process break it, requiring the customer to purchase a replacement. Regardless, customers would happily pay his bill, as well as tip him for his efforts. As his proficiency grew, he could now effortlessly open locks in a minute without damaging the mechanism. But instead of praising his expertise he now found his clients complaining about the bill, without anyone offering a tip! Read more: https://strategypeak.com/instantly-increase-value-desirability/
2) A Simple Pricing Strategy to Increase Revenues
… or why college kids have no clue about the price of beer
A central marketing strategy principle is pricing. Here is one of the simplest pricing strategies you can use to increase your revenues. In a paper published in the Journal of Consumer Research in 1983, Duke University’s Joel Huber and Christopher Puto described a pricing strategy experiment that they conducted with 120 undergraduate students. Read more: https://strategypeak.com/simple-pricing-strategy-increase-revenues/
3) How Deep Customer Insights Boosted Timberland’s Flagging Sales
… it all starts with a complete understanding of the customer
Marketing strategy cannot be taken far without deep customer insight. As a marketing consultant, I have the opportunity to work with many different types and sizes of companies. Regardless of the firm, I see one common mistake occurring in all of them: a lack of understanding of the deep motives, needs, wants, and desires of their core customer. In other words, most companies can tell me WHAT they are selling, but they have much more difficulty articulating WHY customers are buying. Read more: https://strategypeak.com/deep-customer-insights-boosted-timberlands-sales/
4) Sex or Romance? How Cialis Outsmarted Viagra.
… or how to strategically outmaneuver a strong, entrenched, competitor
Playing field maneuvers are core to marketing strategy. Businesses often find themselves in situations where they face strong incumbent competition, and it can be challenging to find a way to gain a strategic advantage. Although it is tempting to fight the competition on their terms, it is often more advantageous to redefine the playing field altogether. Read more: https://strategypeak.com/sex-romance-cialis-outsmarted-viagra/
5) How to Spend $97,000 Building an App Nobody Wants to Buy
… or why if you build it they may not come.
New entrepreneurs often do not think about marketing strategy until much later in the process. This is a mistake. Last year I met a new entrepreneur who was so inspired after reading the book App Empire that she immediately hired a developer to build an app based on (in her mind) a multi-million dollar idea. She quit her job, incorporated a company, and devoted 6 months to refining the app, ensuring the layout and colors were perfect, the bugs in the code worked out, and that it would work across various device screen sizes. It was now perfect. Total cost of development to that point? $68,000. Now for her next step: talk to some customers to see if they wanted to buy it! Read more: https://strategypeak.com/building-app-nobody-wants/
6) Are You Guilty of this Common (Fixable) Start-up Strategy Blunder?
… or what sailing can teach us about start-up strategy
Marketing strategy can easily be described using a sailing analogy. The earliest depiction of a sailing ship was found on a painting discovered in the Middle East from 5000 – 5500 BCE. In the old world, sailing was such an important means of transportation that almost every major civilization has contributed to the advancement of sailing knowledge, allowing explorers to push out even further into the sea and eventually discover the new world. Read more: https://strategypeak.com/startup-strategy-blunder/
7) How to Persuade with the Take-Off Power of a Jumbo Jet!
Marketing strategy can be amplified greatly by “pre-suasion” or priming. In 1969, the Boeing Corporation created the world’s first jumbo jet, the Boeing 747. People will recognize its familiar double deck “hump” profile, four engines, 266,000 lbs of thrust. and the ability to transport over 600 passengers in a single flight. Because of its size and build the plane ideally needs 12,000 feet of runway to get off the ground. But, in some situations it can make do with runways as short as 6,500 feet. One thing is certain though, it is blatantly impossible and highly dangerous to try and get this plane into the air on a runway length of only 1,000 feet. Read more: https://strategypeak.com/priming-sale/
8) How to Get People to Pay 77% More By Changing Just One Thing
Marketing strategy requires an understanding of cognitive biases. Imagine that it is a blistering hot sunny day on the beach. You would really like a beer, but all you have with you is water. QUESTION: How much would you be willing to pay for that ice cold beer? Read more: https://strategypeak.com/get-people-pay-77-changing-just-one-thing/
9) How to Increase Your Persuasiveness by 2,352% with One Simple Change
Across the world, tens of thousands of people die each year as a result of not being able to find a suitable organ donor for their ailment. An oft cited Gallup poll showed that although over 85% of US Citizens approved of the concept of organ donation, only 28% had actually signed the donor card. This pattern of behavior was also recorded in other European countries, and in a 2003 paper Professors Eric J. Johnson and Daniel Goldstein of the Center for Decision Sciences at Columbia University set out to discover why. Read more: https://strategypeak.com/increase-persuasiveness-2352-one-simple-change/
10) How to Change People’s Minds with Just One Question
… or why the key to persuading even the most bull-headed person is understanding they may not know what they are talking about
Sooner or later you will run into someone who is immovable in their opinion. Their heels are dug in, their mind is made up, and they are vehement that their position is right. If you want to see some examples of these types of people, just watch the political talk shows. If the topics are on hot button items like immigration, welfare reform, abortion rights, or any myriad of polarizing subjects, watch the fireworks happen! Read more: https://strategypeak.com/change-peoples-minds-just-one-question/
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