Creating Meteoric Success
From time to time, the marketing world is surprised by big, fast, unpredictable and seemingly inexplicable successes. These hits are products or services, entertainment facilities or vacation spots, shopping malls or specialty stores that enjoy mysterious immediate popularity. There are hot celebrities incognitos, there are events, festivals or concerts that catch the masses, development projects that raise big demand, or styles that become trendy. In almost all cases, there are also new brands that are immediately adopted by the target population. For example, Harry Potter or the Da Vinci code, Apple’s iPod and the blogs, the Hamptons in Long Island New York, Toyota’s Scion brand, the Crest electric toothbrush and many more examples.
There are cases where the reasons for the success of a product are clear. The success of Viagra, a product that has solved a serious problem for millions of men worldwide, is not surprising. Even the success of holiday resorts in Turkey – which once made a luxury holiday style accessible to a new middle-class segment, is not a mystery. In contrast, the success of a particular product, place or person over the competition remains unclear in other cases. We all surrounded the phenomenon of a packaged and trendy caffeine by seemingly equally attractive but relatively empty coffee bars.
Marketing hits are not a new pursuit. Certain categories have accumulated a great deal of knowledge that makes planning and launching hits possible with a practical probability of success. In the leisure and entertainment segment, companies such as Disney, Warner, HBO and others have demonstrated such consistent capabilities in theater, television, music, toys, electronic games and more. Generally, secrets are being kept. Many have tried to crack the formula of marketing’s success.
Short sweet success
Over the past few years, more and more sectors have become as fast and volatile as the fashion industry. The importance of hits for the success of companies has increased in sectors such as: cars, food, care, hotels, construction, entertainment electronics, software and the list goes on. It even includes unexpected categories such as financial services.
Personally, I started my work in the marketing hits field in the second half of the 1990s. I have identified a radical change in consumer behavior and a dramatic increase in a new motivation I found out “The Fear of Missing Out – FoMO”. In very concise terms, FoMO changes consumers into serial searchers and adopters of the new (while inevitably leaving the non-new). As such, one of the consequences is that many FoMO nibbles on customers’ loyalty to established brands.
Realizing that our efforts to maintain customer loyalty are no more than useless, I came to the conclusion that we now need new tools to deal with a new consumer reality that stays here. That’s why I developed a comprehensive “technology” of rules and tools for developing, launching and managing “Short-Term Brands” (STB). STB is planning short-term successes. During this development process, I did an extensive, thorough analysis of over 150 marketing hits in various and diverse categories. At the same time, I studied the accumulated experience in sectors that have learned how to develop and generate such hits methodically. In the middle of 2004, the result resulted in the “Marketing Hits” Formula, which is now part of the STB weapon.
The Marketing Hits Formula and the Implementation Method make it possible to market marketing innovation that will be accepted with immediate enthusiasm by the target consumers. This formula has two major advantages: First, it applies to almost all categories. Secondly, it does not require huge marketing and advertising budgets (the most common method of achieving success within a short period of time).
Success Has Its Rules
The formula postulates that every marketing hit consists of the following four elements:
- Marketing hits are usually not major innovative leaps. The new product or service should be based in as much as 80% on a format that has been passed several times in the same category. The format ensures familiarity, promises consumer satisfaction and reduces consumer endeavor.
- The product or service should be innovative by about 20%. This 20% offers the new experience, the uniqueness, the added benefit or any other reason to switch from the current product, or at least try it. This novelty should maintain the following two lines (3 and 4).
- The product’s novelty must be accountable for one of the “insatiable” or “regenerating” needs (explanation to follow).
- The product must include an element of “Cool”, “WOW” and / or a “Twist” that creates a “viral motif”, in other words, buyers will give good reason to other potential buyers to tell about the product.
– COOL means ‘right’, fashionable and completely current, maybe even a bit edgy.
– WOW means awakening and excitement through incredible design or excellent and unexpected level pf performance.
– A TWIST means something unusual in a surprising, intriguing and often amusing way.
Hits are planned and managed short-term successes (the duration of ‘short’ varies between categories) replaced by new hits. It is of the utmost importance to realize that hits meet two kinds of human needs that are not provided by long-term brands:
“Unchangeable needs” – these are wishes that cannot (not to some extent) be realized, but one will negligently try to fulfill them while deceiving themselves that it is possible to do so. Among the insatiable are the needs of eternal youth, irresistible sexual appeals, greatness, omnipotence, domination, an exciting life and adventure (without taking the trouble, taking the risk or paying the price). It is understandable that brands that support such fantasies will eventually be disappointed and replaced with new solutions.
“Regenerating needs” – needs that continually require new fulfillment. Some of them are restoring psychological needs, such as the need for attention from the environment, the need to be renewed, to stay up to date, to discover and to be seduced or seduced. Social needs are also being restored, including the need to show commitment, due diligence and openness.
We’ve been marketing the Marketing Hits Formula in the last half of 2004 and have since experienced such diverse categories as pharmaceuticals, cigarettes, food products and TV shows, to name but a few.