Does The CE Song Remain The Same?
In our CE business, revenue, profit and market share start with savvy consumers. Of course, during our Black Friday and Cyber Monday weekend drive periods, purse proud consumers rule as core traffic drivers for every retailer. Which suggests knowing, understanding, and applying consumer trends, insights and narrow-cast personalization will forever be the holy grail for marketing professionals.
Not just about cutting prices, which obviously tamps down on brand profit, rather about uniting valued consumers to our shelf-hungry brands and products all year round. Bagatelle brands and products are safe and comforted by their low-shelf, high volume market positions. It is premier first and second-tier brands and products that need direct and inspiring consumer engagements to value opportunity, to defeat direct competitors through social and emotional engagements: to ensure they will earn a few extra pennies for each and every product sale.
Led Zeppelin in 1968 consisted of guitarist Jimmy Page, singer Robert Plant, bassist John Paul Jones and drummer John Bonham. Together they are heralded as the progenitors of heavy metal and distinctive blues rock. Robert Plant once said “It’s sort of a feeling of power onstage. It’s really the ability to make people smile, or just to turn them one way or another for that duration of time, and for it to have some effect later on. I don’t really think it’s power… it’s the goodness.” To this day, for so many hearing the name Led Zeppelin or listening to “Stairway To Heaven" or "The Song Remain The Same” brings to mind predictable, valuable and emotionally charged buying behavior in the language of needs arousal and personal stimulation. Which is exactly what marketers want and expect from their brands and products within our CE marketplace.
Consumer buying behavior also remains the same, marked by these 5 steps to the sale: 1. needs arousal 2. information search 3. juxtaposed evaluation 4. purchase decision 5. post-purchase behavior. The difference today in creating demand for a product, motivating the activity of actual buying is the global size and speed of the conversation platform. Today, instantly and kinetically in front of tens of millions of web squatters the real change is that your brand is no longer the host of the buying party. In fact the party is not about buying. Rather, it’s about listening and exchanging opinions, enjoying and sharing content. It’s about what Robert Plant professes in the paragraph above. As the great Henry David Thoreau once said, complimentary to Mr. Plant’s words: “goodness is the only investment that never fails.”