- Idea Lounge
- The Magic Formula for Marketing Success
We’ve created this series, The Future of Marketing and How to Win, to not only share ideas on where the future of marketing is headed, but to also provoke some new ways of thinking about brand strategy and marketing.
In video 7, The Magic Formula for Marketing Success, of a 9-part series, we answer the question, “What’s the magic formula for success with the post-modern consumer?”
What’s the magic formula for success with the post-modern consumer?
Marketers always ask, “So, what’s the magic formula for success?” And of course, there is no magic formula, but I can give a few tips. Number one is stop using stereotypes. Millennials are not impatient slackers living in their parents’ basement. They’ve grown up in a post modern world that’s very different than it was in their parents’ generation. And boomers are not aging flower children. They have witnessed more empowerment than any generation in the history of mankind. Second is, don’t think big data is going to light your path forward. You need to understand why customers act the way they do now. So, how do you win with the post modern consumer?
Well, first of all, genius is not required. It’s not luck or magic. But, it does require some bravery. You need to be brave enough to try something new and management needs to give you permission to try something new. Invest in understanding your customer deeply, and build a strategy that attracts them. Brand purpose is the way. If you listen to John Mackey, who’s the co-founder and co-CEO of Whole Foods Markets, he said, “While capitalism creates value, business is not about the money. It’s about service to others. Money is simply the reward.”
The post modern consumer has moved beyond the need to own more stuff. They want to live a life with a higher purpose, and your brand can be a tool to help them. Every marketer has the opportunity to help customers live the most meaningful lives ever lived on earth.