Tag Archives: New York City

The Truth Doesn’t Hurt, It Sells.

so-true

Studies indicate that 66% of consumers, regardless of age, will purchase from a brand they feel is sustainable and trustworthy. The numbers are even higher once the Millennial cohort is isolated; at 73%. When companies and brands tailor their advertising with trustworthy information for their target customer, conversion rates are boosted 30%.

Demographics Are Everything
Baby Boomers, the generation born between 1946 and 1960, were once considered the largest generation to ever live. This generation, for decades, has been the foremost influence driving business’s marketing efforts and product lines. But, all that’s about to change.

In the next few decades, the largest transfer of wealth, over 30 trillion dollars, will take place—from Boomers to the Millennial generation and their little brothers and sisters; Generation Z. Demographics are everything, and the aging of the Boomers and the rise of Millennials and Gen Z is going to severely change the marketing and business landscape.

Millennials and their younger counterparts look at companies, brands, and businesses through an entirely different lens than Baby Boomers, and brands are starting to feel the pinch of their critical gaze.

The Millennial generation is far more risk-averse than their Boomer elders. Millennials are more likely to value experiences over things, and will spend their money accordingly. They are not investing in real estate, and are far less likely to buy a car new and on loan, or even own a car at all. Furthermore, this generation is more skeptical of brands than their predecessors.

Trust Is Visceral
While trust has always been an important metric and component driving customer buying decisions, with Millennials, trust is now a key component, not a peripheral, nebulous concept. For them, trust is visceral, and necessary. Despite their young age, this generation and the one behind it are jaded toward the business and advertising worlds.

It’s hardly surprising. While Boomers came of age during the post-war boom, when housing prices, relative to income, were still affordable across socio-economic status, for Millennials this is not the case. Furthermore, this generation witnessed and experienced the massive fallout of the housing crisis of 2008. Since then, this generation’s trust in institutions and brands and businesses was severely crippled and eroded. To earn Millennials coveted trust in the business world, brands are required to operate in a trustworthy, and sustainable fashion. And, brands who are perceived as civically responsible will be more likely to obtain those depreciating Millennial dollars in the coming years.

So, how can a brand appear trustworthy to younger consumers?

  • History: By sharing the company history or brand’s personal story, offering social proof
  • Accountability, i.e.: ‘money-back guarantees’ or offering free trials
  • Affiliations: Proving authority through affiliation with other trustworthy brands in the sphere
  • Relatability: Approaching from a sympathetic angle by understanding the customer’s pain points. Telling stories in an informal, casual tone
  • Subtlety: Offer value first without requiring anything in return

Businesses will have to compete in this new generational ethos. Boomers will not be the largest holders of disposable income soon, and in order to stay competitive in the new market, brands that build trust with their customers will reign supreme.

The Head Down Revolution

Woman on city street looking at smartphone

If you live in a major metro market, then you know what it’s like to walk down the street and see 90% of the people with their heads down buried in their phone. I was one of those people, until I found myself standing in the middle of the street in Manhattan writing a text and nearly getting hit by a taxi. From that point on, I made sure that I was always looking up. But I am definitely in the minority. And this post is not about the safety, or lack thereof, when it comes to texting. It’s about how marketers can capitalize on this Head Down Revolution.

According to Statista, the U.S. mobile phone penetration has reached 81%, representing 223 million consumers. And those consumers spend an average of 4.7 hours per day glued to their smartphones. More importantly, is the role that texting now plays in our everyday lives, especially when it comes to marketing. For an eye-opening example, texts have a 99% open rate compared to 20% for email*. Pretty amazing, huh? Now I imagine that smartphones are currently in the midst of fine tuning their hardware to introduce features that can block such correspondence. But who knows when that will come?

So until that day, marketers have a humongous opportunity to take advantage and focus their outbound efforts on the behaviors of the smartphone user. A behavior that is now second nature, and while receiving a text from a brand may seem like a nuisance at first, it is certainly less of one than an email. Also, if you’re sending info or content that isn’t selling, but more serving them something of value, then you’re more likely to be able to maintain that dialogue.

And isn’t a dialogue what we want? It opens the door, and leads to traffic. And when you have enough traffic, ultimately it will lead to transactions. It’s this approach to marketing, partnered with the aforementioned tactics, that can build the awareness and engagement you’re looking for.

Now how about a little “social experiment”: The next time you’re walking down the street, take note of how many people’s’ heads are down. It truly is a sight to see. Just think, those eyes could be engaged in your brands message. And if the message is “timed” to when your customer is in the market for a new product, it becomes relevant and timely — a very powerful combination.

*Credits: Jack Loechner — Editor of The Center for Media Research; SinglePoint; Statista

Notifications for Everything

yo-app-2

Yo. What seemed like something that was just too simple to actually be practical, the Yo app has grown to over 1 million users and tons of press. The app lets you send a message to your friends who use it. All you do is tap their name and they get the message “Yo.” It seems useless considering this is just slightly easier than sending a text with the same content, right? Well, today’s update to Yo adds a few updated features that makes it even more useful.

yo-index-412x640

There is a new feature called Yo Index, which allows you to receive automatic Yo updates in conjunction with other services. For example, you can sign up to receive a Yo message when your package arrives from FedEx or when your Citi Bike rack runs out of bikes (as well as when one is returned there). Anyone is able to submit a feature for index meaning the possibilities are endless. It looks like a way to streamline notifications and receive them for just about anything via one single app. This feature seems to hold a lot more possibilities and usefulness than just being able to say, “Yo” to your friends.

What Sparks our Fire: An app evolving to become both useful and impressively effective.

What would you like Yo notifications for?

Sleep Tight

casper

Buying a new mattress? While it may not be something that you have to take care of regularly, it sure is a hassle when the time does come. Retailers carry a large amount of slightly different mattress, which you can go and sit on for about 10 minutes at a time to try and then you pick one that you will sleep on for a few years. Not to mention the difficulty of getting it delivered and brought into your house or apartment to the bedroom.

Casper is a new startup based in New York City that sells just one mattress in five different sizes. What makes Casper special is the convenience factors that they easily provide. First off your mattress comes with in five days anywhere in the US – and same day delivery in New York City – packaged up the size of a mini fridge. And once you set that bed up, you have up to 100 days to try out the mattress, and if you’re not satisfied you can send it back for a full refund.

The reviews of the product also point out that the bed is exceptionally comfortable – which is highlighted by the fact that Casper did over $1 Million in sales in just their first month.

What Sparks our Fire: Innovators making turning a rigorous process into something hassle-free

What other industries need someone to step up and make it hassle-free?

The Changing Times

NYT-1

It’s nothing new or surprising to learn that traditional newspapers are struggling. Online news sources are both cheaper and more efficient for consumers. But, there is still something to say about the quality and trustworthiness of old-school newspapers, especially the likes of The New York Times or The Washington Post.

There are reports that The New York Times may soon introduce another subscription, a shorter newspaper, to try and keep it’s print business as profitable as possible. The newspaper would be offered at a lower price point and likely include a digital subscription. This version could have a positive influence on the younger audience who want a quick-to-read newspaper that fits their lifestyle of needing information in the most efficient way possible.

It will be interesting to see the influence this change will have on print newspaper advertising.

What Sparks our Fire: The New York Times looking for new ways to continue engaging consumers and addressing the shift to digital.

Would you be interested in a shorter version of The New York Times?