Insight -a Definition

Where do insights come from? Insights are based on the analysis and interpretation of information. Information can come from primary or secondary research into the consumer, brand, category or competition.

To get to an insight, start with an observation derived from one of the four areas above. Something like “many men like spicy food” or “red cars get more speeding tickets than cars of other colors.” Observations are easy to come by. I bet you could think of 100 right now. To turn observations into insights look beyond the observation and ask, “Why is this?” Why do many men like spicy food? Why do red cars get more speeding tickets? The key is to find the root cause. Many times the answer is found by decoding and understanding human nature.

Why do many men like spicy food? Because it’s an area of competition and esteem, withstanding the intensity of spicy food is a sign of toughness.

Why do red cars get more speeding tickets? Because, like the flames of a fire, red objects appear to move quicker and be more dangerous than objects of another color.

Good marketing is based on insight and the strategy that leverages it; essentially this is what Planners bring to the table in their work. Here is an example from a famous campaign.

Why do people litter? Because when keeping the environment clean is everyone’s responsibility, there is no motivation for any one person to act. Leveraging this consumer insight, GSD&M created the “Don’t Mess with Texas” campaign that positioned littering as a personal slight to every Texan with state pride.

Next time you are looking for insight, remember that an insight is simply an observation waiting to be decoded. Seek to understand the why behind the action.

Price Matching: the Bane of Retailers

Price match guarantees are not good for brand building. These policies at stores like Staples, Best Buy, Wal-Mart and Home Depot work to commoditize their brands, not build them.

Last week I went shopping for a DVD player. I had a $10 gift card to Best Buy, so I committed myself to that store. I compared the DVD players on the shelf, picked my favorite and then took out my smartphone to get a quick price comparison. Scanning the barcode of the Samsung DVD player with the ShopSavvy app instantly brought up other stores’ prices for the same product. It even showed what the DVD player was going for on Amazon and eBay. In less than 30 seconds I learned that Sears carried the same DVD player for 40% less. Once I had the Sears price, I was able to get Best Buy to match it. At this point, I was no longer shopping at a branded store, paying a premium for the Best Buy brand. I was at a commodity electronics shop. Without ShopSavvy or the price match guarantee I would have purchased the DVD player at BestBuy’s asking price. But, my smartphone enabled me to get information from competitors and I saved money that I would have spent at Best Buy regardless.

Brands exist to differentiate products beyond mere price. A likable and clearly differentiated brand is a powerful emotional reason to purchase one product over another. Price match guarantees are not a good strategy for retail stores because they create parity, not difference. In the past, few people took stores up on price matching policies; however, with today’s technologically empowered consumers, the need for powerful branding and smart retail strategy is essential to profitability.

How to Create a Personal Brand

The problem with personal branding experts is that they don’t know what a brand is. They can rattle off tactics of how to get noticed: social media, QR codes, designed resumes, websites, etc; but they can’t explain what a personal brand is or how to develop one.

Creating a brand is hard because brands are intangible. A slogan, logo, avatar, website or Twitter feed is not a brand; they are physical manifestations of a brand.

How do you create a brand if it is abstract?

Simple. Find out what your purpose is.

A brand is the reason behind why you exist. It is the higher calling that inspires your actions. It is a promise lived with conviction, connection, and consistency.

Below is the format I used to create my personal brand promise, my blueprint for why I matter in the world and how I should behave.

Brand Purpose

Brand Mission (my higher calling)

Solve problems by understanding people

Brand Positioning (the way I want my audience to think about me)

To marketing professionals, Thom Pulliam is the innovative thinker who makes brands interesting and relevant to consumers.

Brand Personality (the style by which I communicate and how I would like to be perceived)

Connected, sharp, clever, amusing

Brand Affiliation (the way my audience feels about themselves when interacting with my brand)

Forward thinking, adroit, daring marketers

A brand promise should feel true to its owner and be as differentiated from the competition as possible. Once you craft your personal brand promise, use it to guide the way you execute your brand. It should be the litmus test for everything you consider doing.

Brand promises are meant to be kept internal and used to inspire the identity and communications of your brand, they are not intended to serve as verbatim external marketing communications.