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The future of marketing holds a substantial pie for the art of brand storytelling. This is because, amidst an ocean of sameness, storytelling offers similar offerings to be pitched in with unique outreach. According to a study, a good story helps in capturing the audience’s attention twenty- two times more than mere facts. Beyond customers, this helps build a loyal tribe of followers. These loyal followers in turn could turn out to be the authentic influencers needed for the brand’s digital marketing efforts. Some of the most empathetic companies, also tend to be amongst the most profitable ones as per the Global Empathy Index. Brands too must project a human outlook, besides the obvious thrills of profitability.

Source:https://www.forbes.com/sites/celinnedacosta/2019/01/31/3-reasons-why-brand-storytelling-is-the-future-of-marketing/#61500a0755ff

Uploaded Date:13 February 2019

While there is a lot of talk about physical stores struggling thanks to the disruption brought in by online retailers such as Amazon, most of the purchasing still takes place at stores. Amazon’s recent foray into the acquisition of Whole Foods is there to challenge the omnichannel strategy that stores boast of. This however, does not make the future all doom and gloom for the retailers. Instead they ought to focus on several mechanisms, where the market is still very much open. For a start, they must ensure that stores work properly. Offerings need to be differentiated as Costco has been doing. The areas where they have an inherent advantage need to be advertises, such as the touch and feel or product vetting. Sephora has had great success through this. Retailers must also engage the local community, as good feedback especially online, will automatically percolate to digital marketing for the brand. Nordstrom has this reputation for forging strong community links. Them, along with Home Depot and Lowe’s also provide complimentary advice and consultation on their areas of expertise. Sephora for example does so on beauty brands.

Source:https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/where-stores-can-still-compete

Uploaded Date:22 January 2019

Brands need to answer a few questions that will prove their mettle as customer- centric firms suited to the ongoing digital age. To begin with, the brand needs to clarify whether the focus on the entire customer journey, or merely at some noteworthy touchpoints. The entire data warehousing done thus far has to be given a rethink. All of it may not be entirely useful, so the right restructuring of the same will be needed. Thorough research needs to be conducted to understand the causes of various actions that the customers are taking. This business research needs to be not merely quantitative by qualitative as well. The quality and relevance of all company communications need to be reassessed. The people of course being most important also need to be reevaluated regarding the right fitment.

Source:https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/five-questions-brands-need-to-answer-to-be-customer-first-in-the-digital-age

Uploaded Date:10 January 2019

While variety may be the spice of life, this variety also depends on the time of the day. A lot of human tastes and preferences are based on the time of the day when it is being ordered, shopped or consumed. To cite an example, breakfast items remain eerily similar day after day, week after weak. So even breakfast menus decided are quite common across the board among all players. The circadian rhythms of people may also differ to an extent. This understanding also triggers how marketing ought to be done. Amazon for example needs to put up a certain kind of items on their display early on in the day. Their digital marketing tactics will vary as the day goes, depending on what items the customers are likely to purchase at that time. One must be able to distinguish between variety and novelty. Variety is merely the rearrangement of the same items, while novelty is about something new.

Source:http://knowledge.wharton.upenn.edu/article/time-of-day-consumer-decision-making/

Uploaded Date:07 January 2019

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