Posts

How Coke Beats Pepsi: Top-Of-Mind-Awareness in Marketing

//by:

How Coke Beats Pepsi: Top-Of-Mind-Awareness in Marketing

Let’s play a game. I’ll name five categories and you tell me the brand that comes to your mind first upon hearing the category. Game?

Athletic shoes. Cell phone. Beer. Lingerie. Soft drinks.

Chances are you answered the following, in order: Nike, iPhone, Budweiser, Victoria’s Secret, Coke.

There may be some variance in your answers and mine, but these products, in one way or another, always manage to find their names on top of the consumers’ favorites list, just like it did on mine. It’s safe to say these brands have earned their way into our collective “top-of-mind” awareness.

“Top of mind awareness” is a term coined by Ellis Verdi, former president of the National Retail Advertisers Council in the US.  He observed that most marketers wrongfully seek to achieve their promotional objectives through discounting, a short term cash flow solution. The problem with discounting, he said, was that it diminishes the value of the product. Unlike discounting, however, top of mind awareness influences consumers to think of your business or product first to fulfill their needs above all others. 

Let’s take Coke, for example. In one of the most popular, intriguing, and sometimes, personal product rivalries since product rivalries were documented, Coca Cola and Pepsi Cola have both been jockeying for position as the “top-of-mind” product in the carbonated beverage business. The competition is so stiff it was dubbed the “cola wars”. For more than a century the two companies have tried to one-up each other in every marketing “P” there is: product, price, promotion, positioning, packaging, place, and even people.

There will always be people whose top-of-mind product is Pepsi, in the same way that there are those who only think of Coke, but if being top-of-mind translates directly to market share, then Coke is the clear winner here. According to the latest stats, Coke has a market share of around 40%, while Pepsi’s is at 30%.

So what’s Coke’s secret?

coca-cola-862689_1280

First, we should agree that when we buy something, be it a car, a designer bag, pizza, or soda, the decision making process is the same: we choose products based on how high we rank them in our subconscious. Of course, the rankings are affected by many factors (quality, price, etc) and there’s a tiny caveat: being top of mind does not translate to sales, but the higher the brand is up there, the better it is for business.

While the concept is pretty simple to grasp, the journey from being a mere brand to becoming a top-of-mind brand is more of an uphill climb. But if you know how the right approaches, you’ll get to the top and realize the view from there is a lot better. Ask Coke.

Here’s how.

Be Different (in a good way)

I remember a line I once told a girl I courted in college. She was quite popular in the campus, and just broke up with an equally popular guy. When it was time to lay my card on the table, I told her, “I am not better. I am not worse. I am just different.” We had a good four-year run before immaturity caught up with us, but I sure had her at “I am just different”.

Just as no guy would tell the object of his affection that he is not good enough or that he’s a total jerk and a klutz, too, no brand would go out and tell people their product is not excellent or the best. No company would dare tell consumers they don’t have the best service. All good marketing hinges on making customers believe that you are selling the best, cheapest, most durable and so on. So yeah, tell them you have the best product, but differentiate your brand from your competitors by focusing on an area that they do not have. Find something in your product that sets it apart from others. Is the price that does not compromise quality? Is it your unique formula/component/ingredient? Is it the great after sales service and customer support? Whatever it is, find it and focus on it.

Coke was not just different. It was the first of its kind, so it had a big lead in the awareness department. Later on, when Pepsi was threatening to catch up, it changed its image. It even created a different bottle – the patented contoured bottle – just so Pepsi will have no choice but stick to the boring plain bottle.

Related: Marketing Trend in Asia That Will Still Work in 2016

Exposure, exposure, exposure.

Coke First Ads (Photo: thedayintech.files.wordpress.com)

It’s a no-brainer. The more often you tell people about something, the more familiar it becomes to them. Genius! I mean, there’s a reason everybody knows who Leonardo DiCaprio and Lady Gaga are. Or what an iPhone or Viagra is. Either via good or bad publicity, these brands have been ingrained in the consumers’ subconscious. Sometimes, exposure and repetition function interchangeably. Even psychology says repetition kind of mesmerizes the brain. That’s why the advertising industry is a multi-billion dollar juggernaut – experts know how much product exposure affects people’s buying patterns.

As early as 1900 (Coke was in the market in 1886), Coke had popular musician Hilda Clark endorse the product. Later on, popular baseball players joined the long list of endorsers. By 1906, it signed a 50-year contract with an ad company. Even when Pepsi was just a fledgling company, Coke was already thinking about exposure.

Related: Get Better Marketing Exposure and Expand your Multi National Company Business in Asia

Stay in their consciousness.

Even tougher than getting exposure and getting in people’s consciousness is staying there. See, not everybody who sees your brand today will buy your product now. According to a study, 34% or more than a third of consumers buy a product (a major purchase, such as a car or an expensive appliance) between seven and 12 months from the time they first considered buying it. In this regard, “top of mind” awareness is owning the time between the potential consumer is first considering buying the product up to the moment he or she finally decides to buy it. Sometimes, it really takes some nurturing. How? Once you have identified a prospective consumer, stay in touch, but don’t pester him/her. Be helpful by giving out free information about the product or any way you thing the customer can benefit from.

Case Study: How to Turn Targets to Sales – Ready Leads with a 50% Shorter Lead Nurturing Cycle

While this does not hold true for soft drinks, Coke still made conscious efforts to stay in the consumers’ consciousness by making sure the name Coke is heard as often as possible by as many people as possible.

 

In 1950, Coke rolled out its first TV commercial – several spots during a 30-minute Thanksgiving special.

Three years later, “Coke Time” debuts on both radio and television, and in 1961, it finally appeared in a feature film. Clearly, Coke knew how to turn its product into a household name.

Related: Every Lead is Special (The Callbox Lead Nurturing Tool)

Connect with customers.

“Top of the mind” isn’t reserved to products with a global reach and millions of dollars in advertising budget. Look around you. Surely, there are little home-grown companies that have made an indelible mark on its local customers in a way that makes them top of the mind, albeit locally.

In my city, there’s a couple of Starbucks stores a couple of minutes away from each other. Yes, they’re popular, in the sense that it is “top-of-mind” when my lawyer friend asks where to meet up for coffee. But most of the time, say, when I’m by my lonesome, I go to this quaint local coffee shop that has been around half a century before Starbucks arrived. The reason? It has gained a following from local customers because through the years, it has formed a connection that even Starbucks’ combination of personalized paper cups and Caramel Macchiato cannot replicate. People across all social strata can relate to it because, to a degree, it embodied the characteristics of the people in the community: resilient, humble, laid back. Of course, it didn’t hurt that the coffee costs a fraction of the Starbucks’ cheapest, and tasted great, too. When people can identify with your product, you will be “top-of-mind”.

Perhaps the most telling factor in Coke’s dominance over Pepsi is the fact that it connected better with the consumers.

Photo Credit: PopandRoll

Coke’s marketing campaigns, slogans, and ads had a more human touch – they appealed to the emotion and tugged at the heartstrings. It placed very high value on family and friendships and relationships in general, and it resonated with everybody.

 

Taste the Feeling – Coke Latest Marketing Slogan in 2016

 

In the end, Coke knew that to be top-of-mind, first, you have to be top-of-heart.

 Photo Credit: s2.glbimg.comwww.coca-colacompany.com

 

 

Improve marketing campaign with multi-channel  marketing strategy

and get customers in Singapore!

Dial +65 3159.1112

 

 

Grab a copy of our FREE EBOOK, Why You Should Bet Your Money on Digital Marketing (And Win)! We brainstormed ideas, analyzed data, and interpreted recent developments vis-à-vis previous trends before coming up with a realistic view of this year’s marketing trend.Why You Should Bet Your Money on Digital Marketing (And Win)

How Coke Beats Pepsi: Top-Of-Mind-Awareness in Marketing

/in //by:

How Coke Beats Pepsi: Top-Of-Mind-Awareness in Marketing

Let’s play a game. I’ll name five categories and you tell me the brand that comes to your mind first upon hearing the category. Game?

Athletic shoes. Cell phone. Beer. Lingerie. Soft drinks.

Chances are you answered the following, in order: Nike, iPhone, Budweiser, Victoria’s Secret, Coke.

There may be some variance in your answers and mine, but these products, in one way or another, always manage to find their names on top of the consumers’ favorites list, just like it did on mine. It’s safe to say these brands have earned their way into our collective “top-of-mind” awareness.

“Top of mind awareness” is a term coined by Ellis Verdi, former president of the National Retail Advertisers Council in the US.  He observed that most marketers wrongfully seek to achieve their promotional objectives through discounting, a short term cash flow solution. The problem with discounting, he said, was that it diminishes the value of the product. Unlike discounting, however, top of mind awareness influences consumers to think of your business or product first to fulfill their needs above all others. 

Let’s take Coke, for example. In one of the most popular, intriguing, and sometimes, personal product rivalries since product rivalries were documented, Coca Cola and Pepsi Cola have both been jockeying for position as the “top-of-mind” product in the carbonated beverage business. The competition is so stiff it was dubbed the “cola wars”. For more than a century the two companies have tried to one-up each other in every marketing “P” there is: product, price, promotion, positioning, packaging, place, and even people.

There will always be people whose top-of-mind product is Pepsi, in the same way that there are those who only think of Coke, but if being top-of-mind translates directly to market share, then Coke is the clear winner here. According to the latest stats, Coke has a market share of around 40%, while Pepsi’s is at 30%.

So what’s Coke’s secret?

coca-cola-862689_1280

First, we should agree that when we buy something, be it a car, a designer bag, pizza, or soda, the decision making process is the same: we choose products based on how high we rank them in our subconscious. Of course, the rankings are affected by many factors (quality, price, etc) and there’s a tiny caveat: being top of mind does not translate to sales, but the higher the brand is up there, the better it is for business.

While the concept is pretty simple to grasp, the journey from being a mere brand to becoming a top-of-mind brand is more of an uphill climb. But if you know how the right approaches, you’ll get to the top and realize the view from there is a lot better. Ask Coke.

Here’s how.

Be Different (in a good way)

I remember a line I once told a girl I courted in college. She was quite popular in the campus, and just broke up with an equally popular guy. When it was time to lay my card on the table, I told her, “I am not better. I am not worse. I am just different.” We had a good four-year run before immaturity caught up with us, but I sure had her at “I am just different”.

Just as no guy would tell the object of his affection that he is not good enough or that he’s a total jerk and a klutz, too, no brand would go out and tell people their product is not excellent or the best. No company would dare tell consumers they don’t have the best service. All good marketing hinges on making customers believe that you are selling the best, cheapest, most durable and so on. So yeah, tell them you have the best product, but differentiate your brand from your competitors by focusing on an area that they do not have. Find something in your product that sets it apart from others. Is the price that does not compromise quality? Is it your unique formula/component/ingredient? Is it the great after sales service and customer support? Whatever it is, find it and focus on it.

Coke was not just different. It was the first of its kind, so it had a big lead in the awareness department. Later on, when Pepsi was threatening to catch up, it changed its image. It even created a different bottle – the patented contoured bottle – just so Pepsi will have no choice but stick to the boring plain bottle.

Related: Marketing Trend in Asia That Will Still Work in 2016

Exposure, exposure, exposure.

Coke First Ads (Photo: thedayintech.files.wordpress.com)

It’s a no-brainer. The more often you tell people about something, the more familiar it becomes to them. Genius! I mean, there’s a reason everybody knows who Leonardo DiCaprio and Lady Gaga are. Or what an iPhone or Viagra is. Either via good or bad publicity, these brands have been ingrained in the consumers’ subconscious. Sometimes, exposure and repetition function interchangeably. Even psychology says repetition kind of mesmerizes the brain. That’s why the advertising industry is a multi-billion dollar juggernaut – experts know how much product exposure affects people’s buying patterns.

As early as 1900 (Coke was in the market in 1886), Coke had popular musician Hilda Clark endorse the product. Later on, popular baseball players joined the long list of endorsers. By 1906, it signed a 50-year contract with an ad company. Even when Pepsi was just a fledgling company, Coke was already thinking about exposure.

Related: Get Better Marketing Exposure and Expand your Multi National Company Business in Asia

Stay in their consciousness.

Even tougher than getting exposure and getting in people’s consciousness is staying there. See, not everybody who sees your brand today will buy your product now. According to a study, 34% or more than a third of consumers buy a product (a major purchase, such as a car or an expensive appliance) between seven and 12 months from the time they first considered buying it. In this regard, “top of mind” awareness is owning the time between the potential consumer is first considering buying the product up to the moment he or she finally decides to buy it. Sometimes, it really takes some nurturing. How? Once you have identified a prospective consumer, stay in touch, but don’t pester him/her. Be helpful by giving out free information about the product or any way you thing the customer can benefit from.

Case Study: How to Turn Targets to Sales – Ready Leads with a 50% Shorter Lead Nurturing Cycle

While this does not hold true for soft drinks, Coke still made conscious efforts to stay in the consumers’ consciousness by making sure the name Coke is heard as often as possible by as many people as possible.

 

In 1950, Coke rolled out its first TV commercial – several spots during a 30-minute Thanksgiving special.

Three years later, “Coke Time” debuts on both radio and television, and in 1961, it finally appeared in a feature film. Clearly, Coke knew how to turn its product into a household name.

Related: Every Lead is Special (The Callbox Lead Nurturing Tool)

Connect with customers.

“Top of the mind” isn’t reserved to products with a global reach and millions of dollars in advertising budget. Look around you. Surely, there are little home-grown companies that have made an indelible mark on its local customers in a way that makes them top of the mind, albeit locally.

In my city, there’s a couple of Starbucks stores a couple of minutes away from each other. Yes, they’re popular, in the sense that it is “top-of-mind” when my lawyer friend asks where to meet up for coffee. But most of the time, say, when I’m by my lonesome, I go to this quaint local coffee shop that has been around half a century before Starbucks arrived. The reason? It has gained a following from local customers because through the years, it has formed a connection that even Starbucks’ combination of personalized paper cups and Caramel Macchiato cannot replicate. People across all social strata can relate to it because, to a degree, it embodied the characteristics of the people in the community: resilient, humble, laid back. Of course, it didn’t hurt that the coffee costs a fraction of the Starbucks’ cheapest, and tasted great, too. When people can identify with your product, you will be “top-of-mind”.

Perhaps the most telling factor in Coke’s dominance over Pepsi is the fact that it connected better with the consumers.

Photo Credit: PopandRoll

Coke’s marketing campaigns, slogans, and ads had a more human touch – they appealed to the emotion and tugged at the heartstrings. It placed very high value on family and friendships and relationships in general, and it resonated with everybody.

 

Taste the Feeling – Coke Latest Marketing Slogan in 2016

 

In the end, Coke knew that to be top-of-mind, first, you have to be top-of-heart.

 Photo Credit: s2.glbimg.comwww.coca-colacompany.com

 

 

Improve marketing campaign with multi-channel  marketing strategy

and get customers in Singapore!

Dial +65 3159.1112

 

 

Grab a copy of our FREE EBOOK, Why You Should Bet Your Money on Digital Marketing (And Win)! We brainstormed ideas, analyzed data, and interpreted recent developments vis-à-vis previous trends before coming up with a realistic view of this year’s marketing trend.Why You Should Bet Your Money on Digital Marketing (And Win)

Why Branding Matters In Lead Generation

/in //by:

 

Why Branding Matters In Lead Generation

Before you begin your lead generation campaign, be sure that you have a brand that will back up your business. After all, in today’s highly brand-conscious market, how you describe your business, as well as the name you choose, could very well spell a bonanza of B2B leads, or probably make your appointment setting team’s work harder to do.

A company brand is essentially your name and calling card. This is the first thing that your business prospects will see in your calling card, as well as the name they will hear when you give them a telemarketing call. You brand would be the one on display during trade fairs or symposiums you participate in. That is why you need to choose your brand name well.

To do that, you need to first think about the tone. You need to choose a name that fits your image, like the way Ford uses nostalgia and classics in their imagery. It also helps that you research your brand. You may have thought it up on your own, but there might be others using it already. Avoid using brand names that have already been used, lest you are ready to deal with trademark lawsuits. And be kind to feedback, mind you? If people do not like your name, or could not connect your brand to your business, then it means you need to change it. Remember, you are creating a brand to generate sales leads.

Choose your branding well, and you can do better in lead generation.

 

Going Global In Lead Generation The Coca-Cola Way

/in //by:

 

We all know how big Coca-Cola is as a brand. It is practically everywhere you go in any part of the world. And while we might say that all large companies can do that, and smaller firms could only sit and moan their situation, it is a rather flimsy excuse. No matter the size, a company can still go global in their lead generation efforts. Generating sales leads from different markets (not to mention countries) can still be done. In Coke’s case, they went for a simple mantra – same company, different approach.

Coke serves a huge market, and they know it. That is why they set up marketing teams in every country they get into. These people must be immersed in the local culture, aware of the norms, knows what clicks with the audience, and come up with a marketing plan that jives with the local market and the global branding efforts. And here is the keyword to be remembered: research. You have to do proper research in the local market if you want to

This is a good lesson for you and your appointment setting team, especially if you are employing certain promotions to advertise your products or services in the global market. Before you begin any marketing campaign, you need to do your homework well. And you might have to double up your efforts if you do not have a local team to guide your way.

It is necessary. You need to understand what message is acceptable or unacceptable in your business. You also need to know what medium will work best. If telemarketing brings in the B2B leads, then so be it. It is a mix and match kind of marketing you have to do, since you have to test the waters and see what works best.

 

3 Branding Mistakes In Lead Generation

/in //by:

3 Branding Mistakes In Lead Generation

Branding practically means everything in business. This is the face and soul of your company. Your brand will also influence your effectiveness in lead generation campaigns. It is the first thing that prospective B2B leads will hear from you, and it has to be one that will stick to their minds the most. Of course, in the quest for creating memorable brands, many entrepreneurs often make the mistake of producing catchy names. Later, these turn out to be huge headaches, reducing their ability to effectively generate sales leads from the market. You should not make the same mistake. So, how should you go about it?

  1. Research – you might have come up with a catchy brand, but you may not be the first one. To avoid legal, and costly, arguments with rights owners, you should research the existence of the name.Check the internet or the patent office; see if your brand name is there already.
  2. Applicability – some entrepreneurs create brands that work well in only a small area. If you have plans of expanding, or using broad marketing mediums like telemarketing, it is best that you create a brand that anyone will understand or remember better.
  3. Relatedness – this part may be a bit tricky, but the rule of thumb here is to use a brand that is related to your business. If you insist on doing different, then fine, go ahead, you got nothing to lose. But you have to make sure you can connect your brand to your business properly come appointment setting time.

Simple enough, right? But these are sure to help you avoid lead generation troubles associated with branding.

 

How To Create A Positive Business Image In Lead Generation

/in //by:

 

A good business image is everything, let no one say otherwise. Think about the companies we know today, like Apple, Microsoft, Walmart, Ford, Pfizer, and even Gucci. When you hear their names, you recognize them immediately, right? That is the power of image. And that is a quality that bring in the sales leads. For a lead generation campaign to be successful, you need to create a powerful image in the minds of your business prospects. Now that is a challenge that a lot of marketers are trying to solve. It can make all the difference in their ability to generate qualified B2B leads in the market. So, where should you be starting?

First of all, you need to consider what your image in the market should be . Remember that your image must contain the thoughts, feelings, beliefs, opinions and visions customers and business prospects have about you. It must also represent the  products and services that you or your company bring to the market. Take note that your company image is based on what your market thinks of you, not how you think of yourself. The most successful company images are those that have customers thinking exactly of what you wanted them to think of your business. This alignment of market expectations and company capabilities is what makes an appointment setting campaign easier to do.

Also, do not forget that creating a positive company image requires the use of various marketing mediums. Whether it is by email, print ads, telemarketing, or any other medium, you have to ensure consistency and accuracy of the message you convey. Effective image building is an important step before you start any significant lead generation campaign. For example, start with your company logo. Is it attractive enough to business prospects? Does it reflect on the nature of your business? How about your taglines? Do the words used best state what your company is all about? Look into your employees as well. Do they follow the spirit of your company? Do they attend to customers with a smile? These are just examples of what you can do to improve your company image.

Another point to consider would be the products and services that you offer your business.  You can praise your offering all you want, but if they fail to deliver, you get a negative customer response that is worst than you handle. If you cannot do anything about your products, you might as well be honest about it. Even if it means losing a potential sale, if it can keep you from committing a major marketing blunder, then it is worth it. You have your brand’s image to protect in the long run. Your image, when properly nurtured, will be strong enough to get you your B2B leads.

By cultivating a positive image, you ensure that your business will prosper in the long run. Lead generation campaigns would be much more rewarding, as long as you have a positive image in your market.