Friday Forecast: Principles of Influence Part 6: Social Proof is Positive Proof

by Rick Petry on Nov 3, 2017 1:28:30 PM Consumer Behavior

Note: This is the sixth and final in a series of blog posts devoted to principles of influence found in Dr. Robert Cialdini’s seminal psychology book entitled Influence: The Psychology of Persuasion. It is essential reading for any marketer.

For our last principle of influence, we have left perhaps the most important and potent one: social proof.

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Friday Forecast: Principles of Influence Part 5: Consistency: Our Tendency to Double Down on Decisions

by Rick Petry on Oct 20, 2017 10:14:10 AM Consumer Behavior

Note: This is the fifth in a series of six blog posts being featured based on principles found in Dr. Robert Cialdini’s seminal psychology book entitled Influence: The Psychology of Persuasion. It is essential reading for any marketer. Previous blog posts in this series can be located by clicking on the author’s name.

The principle of consistency suggests that once someone makes a decision, they will tend to make similar, complimentary choices that reinforce their original decision. To prove the point, Dr. Cialdini sites a study where homeowners were asked if they would be willing to put a sign in their front lawn asking drivers passing by to “Drive Safely.”

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Friday Forecast: Principles of Influence Part 4: Authority As a Trust Builder

by Rick Petry on Oct 6, 2017 5:53:44 PM Consumer Behavior

Note: This is the fourth in a series of six blog posts being featured in the coming weeks and months based on principles found in Dr. Robert Cialdini’s seminal psychology book entitled Influence: The Psychology of Persuasion. It is essential reading for any marketer.

According to Dr. Cialdini, the principle of authority reveals that “people will follow the lead of credible, knowledgeable experts.” In direct marketing this authority can take the form of a professional endorser, a celebrity spokesperson, or even a credible testimonial.

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Friday Forecast: Principles of Influence Part 3: Scarcity as a Motivator

by Rick Petry on Sep 22, 2017 10:58:26 AM Consumer Behavior

Note: This is the third in a series of six blog posts being featured in the coming weeks and months based on principles found in Dr. Robert Cialdini’s seminal psychology book entitled Influence: The Psychology of Persuasion. It is essential reading for any marketer.

The scarcity principle recognizes two powerful impulses that drive the human condition: 1) that people want what they can’t have; and 2) that as soon as someone is told something is unavailable, they tend to want it even more.

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Friday Forecast: Push and Pull Marketing in the Omni-Channel Age

by Rick Petry on Sep 8, 2017 3:25:01 PM Brand Marketing, Consumer Behavior, Advertisements

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Friday Forecast: Principles of Influence Part 2: The Law of Reciprocity

by Rick Petry on Sep 1, 2017 1:37:40 PM Consumer Behavior

Note: This is the second in a series of six blog posts in the coming weeks and months based on principles found in Dr. Robert Cialdini’s seminal psychology book entitled Influence: The Psychology of Persuasion. It is essential reading for any marketer.

The law of reciprocity says that if you do something for someone, they feel indebted to you. It is a human impulse that is universal and exists in every culture across the globe. Allow me to illustrate the point: If you shop at Costco, see if this sounds familiar.

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Roadkill on the Path to the Future

by Rick Petry on Aug 28, 2017 1:41:21 PM Consumer Behavior

“Please don’t hire anyone else.” This was the plea of a colleague many years ago when I traveled north from California to Oregon to a production company known as Tyee. Tasked with building a media planning and buying arm, my job was to transform the business into a full-fledged advertising agency. As someone whose ambition was intent on growth, I was, needless to say, taken aback by this comment. The person making the appeal wanted things to be the way they used to be, when the organization, led by a handful of partners, was small and family-like. This individual was opposed to the one thing that we all know is constant: change.

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Friday Forecast: Principles of Influence Part 1: The Power of Liking

by Rick Petry on Aug 18, 2017 3:08:26 PM Consumer Behavior

Note: This will be the first in a series of six blog posts in the coming weeks and months based on principles found in Dr. Robert Cialdini’s seminal psychology book entitled Influence: The Psychology of Persuasion. It is essential reading for any marketer.

“Liking” is a powerful motivator when it comes to transacting business – and life. In the simplest terms, people do business with people they like.

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Friday Forecast: 'TV Everywhere': The Third Era of TV Has Arrived

by Rick Petry on Aug 11, 2017 10:39:05 AM Consumer Behavior

An article in Barron’s published this last weekend entitled “TV’s Sports Problem” contained this startling forecast: that by 2020, Google and YouTube parent Alphabet, Facebook, and Amazon could have $100 billion in free cash flow in their coffers on a combined basis, compared to $30 billion for broadcasters ABC, CBS, NBC, and Fox. That means the online marketers will have more than three times the amount of money to bid for sports rights, and to create original programming to compete with conventional television channels.

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Friday Forecast: Amazon Prime Day Proves the Power of Scarcity

by Colleen Ferrier and Rick Petry on Jul 14, 2017 10:34:06 AM Consumer Behavior, Consumer Impression

It was the day after Christmas when one of your Friday Forecasters started canvassing a table of Jim Shore holiday figurines that were priced at half-off in the cellar at Macy’s. No other shoppers were paying any attention whatsoever to the display until your faithful narrator started setting some boxes aside indicating purchase intent. Soon, like moths to a flame, the table was surrounded by like-minded individuals who engaged in a kind of feeding frenzy, jockeying amongst one another for the remaining spoils.

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Have a Complicated Relationship With Your Direct Response Advertising Campaign?

by Bill McClellan on Jul 6, 2017 2:00:54 PM Consumer Behavior, Direct Response

Are you worried that your products aren’t effectively reaching your target audience? Frustrated that you need to continue to find creative ways to market products to consumers? It’s complicated.

At the 2017 Government Affairs Fly-In, we were joined by speakers Bala Iyer, executive VP & chief operating officer, Telebrands, Marc Roth, partner, Davis Wright Tremaine LLP, and Jennifer DeMarco, general counsel, All-Star Marketing for a panel entitled, “We’re All in this Together: The Complicated Relationship that Makes up your Direct Response Advertising Campaign.” And the panel was moderated by Ellen T. Burge, partner, Venable LLP.

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Mobile Payments: Traditional Tides Are Changing

by Monica Eaton-Cardone on Jun 21, 2017 9:34:39 AM Consumer Behavior

Retailers beware: A hesitancy to ride the wave of mobile payments could sink your business and submerge your sustainability. The traditional ebb and flow of card-centered purchases is on its way out to sea.

Trusting a mobile wallet, or near field communication (NFC) payment method, may seem dangerous, but your customers want it. And customers usually get what they want.

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Friday Forecast: The Normalization of Digital Piracy: A Blight on Advertisers

by Colleen Ferrier and Rick Petry on Jun 9, 2017 1:00:47 PM Consumer Behavior, Advertisements

There’s a lot of talk about shifts in media consumption habits by generation and the implications that it has for the traditional interruptive television advertising model. We know eyeballs are shifting away from TV onto smartphones, tablets, laptops, and desktops, especially among the demographic groups under 35 years of age. We know too that more content is being streamed on a delayed or on-demand basis and that viewers are either fast forwarding past our commercials or foregoing them altogether.

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Friday Forecast: Privacy, Security & The Ghosts of '1984'

by Colleen Ferrier and Rick Petry on May 26, 2017 12:38:46 PM Consumer Behavior, Trends

The ramping up of allusions to George Orwell’s legendary dystopian novel 1984 really began in earnest when Edward Snowden revealed the degree to which the American government was surveilling its citizens. But since Donald Trump assumed the office of the United States presidency, such references to the literary classic have revolved more around the notion of Thought Police and Thought Crimes and the idea that the powers that be are manipulating a narrative in order to deceive the public.

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Friday Forecast: Text - Direct Marketing's Next Big Thing?

by Colleen Ferrier and Rick Petry on Apr 7, 2017 10:37:30 AM Digital Marketing, Consumer Behavior, Texting

 

For many years, direct response advertising has offered consumers two primary ways of reaching out to marketers: the telephone and the web. Now a third, exciting avenue has emerged: text. Why do we think this is such a compelling opportunity?

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Southeast Asia: The Next Major Consumer Market?

by Monica Eaton-Cardone on Dec 21, 2016 10:00:00 AM Consumer Behavior

There has been a great deal of industry discussion regarding the rapid growth of the consumer retail market in China in recent years. In fact, China is forecasted to become the world’s largest consumer economy by 2024 when it will reach $11 trillion in annual retail spending.


As China develops into a fully-matured consumer market though, growth will inevitably slow and stabilize. However, several other economies in the region are poised to show similarly dramatic growth in the next few years, and retailers should act now to position themselves in the right place at the right time.

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3 Tips to Keep Loyalty Program Members Engaged

by Danielle Brown on Oct 24, 2016 12:00:00 AM DRTV, e-Commerce, Consumer Behavior, Retail

There are some eye-opening stats out there about loyalty program engagement: Consumers on average are enrolled in 29 loyalty programs, yet are only active in 12. Six out of 10 customers believe that companies only offer rewards programs to get them to buy more. And 74 percent of U.S. retailers reveal that customer engagement is their number one concern.

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Trend Spotting: Online (Part 2)

by Peter Koeppel on Oct 20, 2016 12:00:00 AM D2C Convention, Digital Marketing, e-Commerce, Consumer Behavior

At the recent D2C Convention, I presented a session entitled, Trend Spotting: Benchmarking the Present and Predicting the Future of Marketing. My intention was a simple one: to synthesize the latest statistics, forecasts, and best practices in marketing from over 100 different sources to save my audience time and to provide insight that will help you today and in the future. In the second of this six-part series, I'll take a look at online. Given the presentation was limited to an hour, I have had to limit my focus, but hopefully the learnings gleaned will prove helpful to the reader.

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Trend Spotting: Offline (Part 1)

by Peter Koeppel on Oct 11, 2016 12:00:00 AM D2C Convention, DRTV, Consumer Behavior

At the recent D2C Convention, I presented a Masters Series session entitled, Trend Spotting: Benchmarking the Present and Predicting the Future of Marketing. My intention was a simple one: to synthesize the latest statistics, forecasts, and best practices in marketing from over 100 different sources to save my audience time and to provide insight that will help you today and in the future. Over the next six weeks on consecutive Tuesdays, I will be blogging about each of a half-dozen marketing channels and topics.

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[VIDEO] Giant Spoon’s Mikael Greenlief Focuses on Connected Storytelling During D2C Keynote

by Vi Paynich on Sep 28, 2016 12:00:00 AM D2C Convention, Digital Marketing, Consumer Behavior

“Right now, we’re in a moment in the industry where we have more data on consumers than ever before,” said Mikael Greenlief, Director of Strategy at Giant Spoon, during the keynote luncheon at the 2016 ERA D2C Convention. “Ninety percent of all consumer data has been captured in the last two years.” Because marketers have access to this data, he also noted that they are now able to connect with consumers on different levels more so than what they had traditionally been able to do in the past.

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One Thing Leads to Another

by Rick Petry on Sep 19, 2016 12:00:00 AM Digital Marketing, DRTV, Consumer Behavior

At the tender age of 16 I took my first job: pumping gas at a service station. While the adjoining carwash was already automated, the idea that I might no longer be needed came as a surprise. My initial response was, “No way are people going to pump their own gas and stick a credit card in a machine.”

Fast-forward to today, and it’s a shock there isn’t a sketch of my adolescent self in the dictionary next to the word naïve.

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3 Ways to Earn Loyalty with Millennials

by Kate Hogenson on Aug 31, 2016 12:00:00 AM Digital Marketing, e-Commerce, Consumer Behavior

Contrary to popular belief, millennials, a demographic that spends an estimated $600 billion each year, are willing to be loyal to brands and in fact, even more interested in loyalty programs than previous generations.

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What’s Millennial Brand Loyalty Worth to You?

by Matthew Katz on Aug 2, 2016 1:23:34 AM Digital Marketing, e-Commerce, Consumer Behavior, Support Services

Millennials make up an increasingly significant piece of the global spending pie. A study from the Dartmouth Center for Marketing Research estimated that Millennials born between 1980 and 2000 possessed a spending power of $2.45 trillion worldwide in 2015. As the younger portion of the generation begins to control more money and become more financially independent, that number is expected to rise, and businesses want to be there when it does.

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New Consumer Study: How Much Will Parents Spend on Back-to-School Items?

by RetailMeNot, Inc. on Jul 21, 2016 12:00:00 AM Digital Marketing, e-Commerce, Consumer Behavior, Retail

RetailMeNot, Inc., a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store, has released a new study titled, “Back-to-School Cheat Sheet: Consumer Trends and Insights for Retailers,” that explores the shopping habits of parents as they prepare for their students’ return to the classroom.
 
Following are a few interesting statistics.

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Millennials & Mobile Payments: What Is the Price of Convenience?

by Matthew Katz on Jun 21, 2016 12:00:00 AM Digital Marketing, Consumer Behavior, Support Services

We live in an age of accelerated technological advancement. With everything they need right at their fingertips, Millennials are having a major influence on a rapidly evolving consumer landscape. A force of 80 million Americans born between 1981 and 2005 with real spending power increasingly prefer mobile payments via smartphones and tablets over brick-and-mortar shopping. Gone are the days of hanging out at the mall. This trend is changing not only the way merchants must connect with customers, but how goods and services are being bought and sold on a grand scale.

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