Consumer Behaviour

Ep 24: Do Loyalty Programs Work?

In this episode we discuss:
  • Do loyalty programs improve loyalty?
  • Can loyalty programs increase growth?
  • What is the impact of loyalty programs on overall profitability?
  • What are the 4 types of buyers we should think about when it comes to buyer loyalty?
  • Which loyalty programs do work?
  • What models might be worth considering when it comes to loyalty programs?
  • And does Professor Byron Sharp listen to the Brandwidth podcast?

Resources Mentioned

Prof. Byron Sharp – How Brands Grow – https://www.amazon.com.au/How-Brands-Grow-What-Marketers/dp/0195573560

Marketer and Consumer agree to marriage counselling Video – https://www.linkedin.com/posts/markritson_marketer-and-consumer-agree-to-marriage-counselling-activity-6869769127054180352-8dWp

 

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Ep 19: Can you be strategic about word of mouth?

In this episode we discuss:
  • Word of mouth is always seen as important, but why aren’t we more strategic about it?
  • What is a Talk Trigger?
  • What’s the difference between a USP and a Talk Trigger?

Types of Talk Triggers – Talkable Empathy, Talkable Usefulness, Talkable Generosity, Talkable Speed, Talkable Attitude

Talk Trigger Criteria – Be Remarkable, Be Relevant, Be Reasonable, Be Repeatable

Resources Mentioned

Skip’s Kitchen https://www.cbc.ca/radio/undertheinfluence/how-a-deck-of-cards-earns-one-restaurant-lineups-out-the-door-1.5103238

Five Guys Fries https://www.mashed.com/228032/why-five-guys-always-gives-you-so-many-extra-fries/

Penn & Teller https://www.latimes.com/travel/deals/la-tr-vegas-penn-teller-free-20160712-snap-story.html

Air NZ Sky Couch https://www.airnewzealand.com.au/economy-skycouch

Umpqua Bank https://www.businessinsider.com.au/umpqua-bank-offers-customers-direct-access-to-its-ceo-from-its-stores-2012-2

Holiday World & Splashin’ Safari https://www.holidayworld.com/holiblog/2000/10/21/holiday-worlds-free-drinks-wins-international-award/

Dr. Snip http://www.finkbuilt.com/blog/vasectomy-clinic-pocket-snips/

 

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Ep 18: Measuring & Leveraging Cognitive Biases for Fun & Profit – The Messy Middle Pt 2

In this episode we discuss:
  • The impact of cognitive biases on purchasing decisions
  • What exactly are category heuristics and why do they matter?
  • Experts vs Acquaintances who do consumers really pay attention to?
  • Why 2 for 1 is better than 50% off, every time
  • Stacking biases and other fun games for marketers
  • Brand preference fragility, another dagger in the heart for poor old brand loyalty theory?
  • Consumers don’t know why they purchase what they purchase and neither do you.
  • Why exactly does Sam need three TVs anyway, and who the hell is Hisense?

Resources Mentioned

Google and the Behavioural Architects – Decoding Decisions: The Messy Middle of Purchase Behaviour – https://www.thinkwithgoogle.com/_qs/documents/9998/Decoding_Decisions_The_Messy_Middle_of_Purchase_Behavior.pdf

Matt Johnson, PhD & Prince Ghuman – Insights into the Psychology of Decision-Making from a Split-Brain Mind – https://www.popneuro.com/neuromarketing-blog/psychology-decision-making-split-brain-mind-choices-motivation

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Ep 17: The Job to be Done

In this episode we discuss:
  • What job are we ‘hiring’ the products we purchase to perform?
  • The surprising truth behind milkshake purchasing behaviour
  • A better question to ask consumers than “why” they purchased something
  • Are two jobs to be done better than one?
  • Why you should talk to your customers instead of talking about yourself
  • Does something need to be ugly to be believably functional?

Resources Mentioned

Clayton M. Christensen, Scott Cook, and Taddy Hall – Marketing Malpractice: The Cause and the Cure – https://hbr.org/2005/12/marketing-malpractice-the-cause-and-the-cure

Clayton M. Christensen, Taddy Hall, Karen Dillon, and David S. Duncan – Know Your Customers’ “Jobs to Be Done” – https://hbr.org/2016/09/know-your-customers-jobs-to-be-done

Clay Christensen – The “Job” of a McDonald’s Milkshake – https://www.youtube.com/watch?v=Stc0beAxavY

Brand Deckhttps://branding.cards/

Trigger Cardshttps://www.trytriggers.com/shop/ideation-cards-for-brand-strategy

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Ep 15: The Messy Middle of Purchase Behaviour

In this episode we discuss:
  • The evolution of consumer buyer journey frameworks
  • Initial consideration vs active evaluation
  • The latest research into active evaluation
  • What exactly is the ‘messy middle’
  • Exploration and evaluation loops
  • The power of purchasing triggers
  • Is purchase abandonment a bigger issue than cart abandonment?
  • Behavioural biases raise their head again

Resources Mentioned

Decoding Decisions: The Messy Middle of Purchase Behaviourhttps://www.thinkwithgoogle.com/_qs/documents/9998/Decoding_Decisions_The_Messy_Middle_of_Purchase_Behavior.pdf 

MickInsey & Company – The Consumer Journey – https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-consumer-decision-journey

Think with Google – Decoding how consumers make purchase decisions – https://www.thinkwithgoogle.com/intl/en-aunz/consumer-insights/consumer-journey/decoding-how-consumers-make-purchase-decisions/

Rory Sutherland – Alchemy: The surprising power of ideas that don’t make sense – https://www.amazon.com.au/Alchemy-Surprising-Power-Ideas-Sense-ebook/dp/B01F1HOAWA

22 Immutable Laws of Branding – Trout & Reis – https://www.amazon.com.au/22-Immutable-Laws-Marketing-Violate/dp/0887306667

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