We Only Need "4 Letter Words" in Marketing.
We only need 4 letter words in marketing. That's what a business collegue and fellow marketing professional told me the other day. She was referring to "love, hate, fear and free." Okay, well, maybe she confused Greed with free -- (they both have two e's) -- but it has 5 letters.
Each of these emotions/concepts definitely are motivators.
LOVE - A prime motivator for purchase. Christmas gifts. Baby items. Parents gifts. I love that car, that house, that pair of earrings. Attraction to a product.
HATE - What do people buy because of hate? I'm having trouble coming up with something. Maybe jealousy. I think a lot of people will make a specific purchase because they are jealous or to make someone else jealous. Maybe I'm naive... I hate it when something breaks and I have to buy a replacement. Help me out here...
FEAR - How about insurance? Burglar alarms? I talked about FUD (fear uncertainty doubt) a few weeks ago.
FREE - Greed. That's why the BOGO's work so well in the grocery store where you "buy one and get one" free. But wait, there's more... Even if price isn't an issue, who can resist a really good deal?
How do you use these 4 letter words in your marketing strategy? What prompts your customer to take action?
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Labels: Branding, Leads, Marketing, Positioning, Sales.
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6 comments:
What's a BOGO?
BOGO stands for Buy One, Get One... meaning you buy two boxes of something -- one box of something at the regular price and you get the second box for free. Works out to 1/2 price.
The grocery store in my area uses it alot and even advertises the word BOGO. It used to be used only as a trade term when talking about types of coupons/rebates etc. But now it's used by savvy consumers more and more.
Thanks for reading and commenting!
Chris
How about want & need?
I always try to consider what my target market really wants and meet that with good services or products. But you have to know what they really want - what will hel them find the solution to their problem.
With need, I think of what my target market needs that they don't really know they need yet. It's a bit harder, sometimes, to 'sell.' Yet, when you get it right, your clients often feel like you've completely changed their life.
Want and Need. Dawud -- you are so right!
Hey, I noticed you signed up for the bloggers conference in Chicago in May.
Hmm... isn't the prime motivator for buying something that the product/service makes the buyer happy?
I would argue that while those other points are surely valid, most purchases are not made because of Love, but the implied gain in (personal, i.e. the buyer's) happiness.
I don't think that fear in itself is a good motivator for buying. It is more the fear from losing happiness; i.e. when my house burns, my private happiness is gone. Thus fear would be a secondary motivator.
As far as burglar alarms go, I think (and of course many will argue otherwise), that those campains focussing on the positive sides work better. I.e. not "if you don't have this alarm, your house will get burgled and your family killed" but rather "if you buy this, you can enjoy a peaceful, protected familiy home with your loved ones. We protect your happiness".
Martin:
I agree with you. Fear based campaigns are very negative... but selling security feels right. But security/fear is really the same thing just looked at from a different perspective. It's moving toward security, moving away from fear. I think you need a little of both to show the full spectrum.
Being responsible (doing the right thing) isn't as strong of a motivator as staying out of trouble (avoiding bad situations). I guess it boils down to the carrot and the stick.
Hey, by the way, you have a GREAT blog. I've added it to my feeds.
Chris
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