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Kylie Jenner’s makeup sold $420 million in 18 months with minimal advertising beyond her Instagram posts. Her lip kits and eyeshadow palettes, at one point, retailed for $27 and $42 respectively. At a street fair on Long Island teen girls were falling over themselves to buy the stuff. The police showed up after a while, arrested some entrepreneurial boys hawking the cosmetics, all of which turned out to all be fake. The teens didn’t seem to care.
Kylie got some game. Kylie has a brand. Just ask my SnapChat stock, which lost mega value when she dinged the platform after it updated the interface.
If you are not Kylie Jenner and there is not pent up demand for anything and everything you touch, you need a brand strategy. In fact, in 15 years when Kylie isn’t hot (commercially), she may rue the fact she didn’t establish an organizing principle for her brand. Kids!
Creating brands out of people is hard. Creating brands for companies and products is easy. Claim and proof is the fasted, most enduring way.
If you are interested in some success stories and examples, write Steve@whatstheidea.com
Tags: brand, brand claim and proof, Brand Strategy, Brands, claim and proof, Kylie jenner, kylie jenner cosmetics, pent up demand, snapchat, steve@whatstheidea, email@example.com, whats the idea, whatstheidea
I write a good deal about pent-up demand. It is a marketer’s best friend. When Miller Lite was launched no one had ever successfully marketed a low calorie beer. Ergo there was no demand. The market had to be educated as to the value of light beer. Once done, demand was there. No pent-up demand.
Marketing and brand planners should always look for pent-up demand in the market. When it’s obvious, E.g., cheaper taxi rides (Uber), better tasting hamburger (Shake Shack), life is easy. When a product value is not obvious, finding pend-up demand is a chore. For Excel Commercial Maintenance, a building cleaning service whose customers care most about low price, a brand strategy “The navy seals of commercial maintenance” met pent-up demand for fast, fastidious and proactive workers. Something purchasers rarely talked about.
Not every product or service offers a marketing with a deep undying demand for a feature or function. But if you don’t dig deep you are not doing your planning job.
Tags: demand generation, excel commercial maintenance, miller lite, navy seals of commercial maintenance, pent up demand, shake shack, uber, whats the idea, whatstheidea
I write a good deal about pent up demand. When you develop a product or service for which there is pent up demand you tend to ride a nice wave of sales and market share gain. It’s a supply and demand thing. But what happens when you are a “beyond the dashboard” marketer and create a product with no demand at all. I’ve been there. It’s exciting. And nerve-wracking.
Pokemon Go is a product for which there was pent up demand. Maybe. Ish. I spoke to a couple of kids who thought the idea silly – of an age where they tho0ugh tis was not cool. But there are gazillions of kids playing and enjoying it. Not looking over their shoulders, not over-analyzing it; just walking around with a heritage game evolved to use new VR technology.
It’s genius. And transformational. It’s a social computing breakthrough that will change the world.
Stay tuned. The world just got flatter.
Tags: pent up demand, pokemon go, the world just got flatter, whats the idea, whatstheidea
I talk about the branding and marketing value of a category or incipient category in which there is “pent up demand.” The flash boom growth of Pokemon Go is one such example. I know because I live near a park that is a waypoint (gym?) in the VR world that is the game Pokemon Go. Cops have closed the park entrance, overflow teens and mills walk the streets after dark near the park in hopes of a glimpse of a creature. They break the law, entering the park, after hours just to play. Kids (may I call them kids?), who grew up on sedentary video games, Gameboys, and consoles have been waiting a long time to be unleased. Rather than shoot up bad guys with and against global acquaintances (guns games are becoming passe for kids), they’re actually out and about, meeting people. Virtual world fun in the real world.
In 10 years, many of these kids will be saying about their spouses “Remember meeting while playing Pokemon Go in the East Village?”
Many thought porn would be the first virtual reality (VR) breakthrough. Wrong. It’s promotional gaming. And we’ve only seen the beginning. Marketers will figure this one out in ways that will reinvent promotion. Imagine developing a game in which you can knock 50% off the price of a TV for a little walking around time investment? This ain’t no “treasure hunt” walk about my friends, it’s a VR learn and share experience that’s going to be a woosh for marketing development companies.
Yesterday my dentist asked me to suggest a good marketing job for an intern. My answer today? Get a marketing-development job that lets you dabble in VR. Bam!
Tags: branding and marketing, branding tips, Marketing development, marketing development companies, pent up demand, pokemon go, VR in marketing, whats the idea, whatstheidea
There are three main product marketing states one confronts when selling. There is pent-up demand, demand, and no demand. In the first state, the market wants what you sell and there isn’t enough supply. Or the market wants the functionality, but the product hasn’t been invented yet. This is every marketer’s dream. The demand state is the normal market environment. Old supply and demand. People want or need the product and buy it when they run out. Customers may be brand loyal, pocketbook loyal or convenience loyal. Ever eat a 7-11 hot dog? That’s convenience loyal. Lastly, there is no demand. In this state, consumers may like or want your product – they just don’t know what it does or how they will benefit. This is the most expensive marketing undertaking because money has to be spent educating the market as to the product’s benefits and role. You sometimes have to define for consumers a problem they didn’t know they had — then sell them the solution. A two stepper.
The marketing and advertising response to each of these market states should be very different. The branding (and naming) approach may be different too. So ask yourself marketing dudes and dudettes, in what state is your product?
Tags: 7-11 hot dog, pent up demand, product marketing states, Product states, whats the idea, whatstheidea
The three most important words in marketing are “pent up demand.” Not “supply and demand.” Pent up demand comes about when there is not enough supply — so the two concepts are linked. When there’s great demand for a product or service, it’s easy to sell. When there is over-supply, not so much. In the case of an over-supply situation, good marketers will find a feature or quality of the product that is under supplied and use it as a differentiation. Advertising alone is not a differentiator. Good ads help in a commodity business but real differentiation makes for better sales.
Marketing in a commodity world is the toughest form. It requires lots of research, data and anthropological study. When you find a feature for which there is pent-up demand, pound it. These features are typically found in the brand strategy under the headings “care abouts” and good-ats.”
Tags: care-abouts, careabouts, commodity marketing tips, good ats, Marketing Commodity Products., over supply, pent up demand, pent up marketing, whats the idea, whatstheidea
I wrote a biz/dev letter to a software company owner last week explaining what a pain in the ass RFPs are for most companies. My suggestion was to extend his product in such a way that it replaces RFPs. Pent up demand in marketing is a great thing.
As big data engulfs us, there’s a mad rush toward replication and standards that save time. So in K12 education we have Common Core. In college applications we have the Common Application. In business the RFP. But as were search for common, what becomes of the uncommon? I fear it is often lost.
I sat through an online phone demo yesterday for an amazing platform product, conducted by a really smart tele-sales guy. A brit. He didn’t fall into that trap of repeating my name ad nauseam, but you could tell he was scripted. He even made fun of the script to be a bit uncommon.
In the marketing field, there are lots of tool makers trying to streamline selling. To make selling common. The reason the ad business is stronger than ever is because of the hunt for the common. The best ad shops are repelled by the word. Sadly, uncommon by itself doesn’t always sell. Uncommon with a purpose — with a brand strategy — does.
That’s why when I sell brand ideas in the C-suite, decision maker invariably buy, but with a pang of discomfort. (Do we have to use that one word?) That’s when I know I’ve got them. Uncommon.
Tags: brand idea, Brand Strategy, common application, common core, marketing commons, pent up demand, rfp, whats the idea, whatstheidea