Seth Godin Presentation on Tribes

I like the idea of generating tribes around your brand because it creates meaning around your product or service and appeals to our human nature to want to belong to a community. The internet helps people find others with similar interests, including interests in specific brands like Apple, Nike, the Red Sox, or Xbox. The challenge I think, is that companies can not create the tribes, they have to be created by passionate customers. The role of the company is to facilitate tribes by creating products and services that are worthy of a tribe. See the following video for more on Tribes.

Best Buy CMO Barry Judge on the Future of Marketing: Video

I think a company that really understands the new digital marketing landscape is Best Buy. The CMO has a blog and twitter (@bestbuycmo) where he talks and learns from customers. Greg Verdino discusses engaging consumers with digital media and how Best Buy is building credibility for social media marketing.

The importance of listening, and engaging with customers directly in an open and honest way. The growing importance of the mobile web and the ways it can empower consumers throughout the buying process. The fact that everything is going digital and what this means for the products and services companies offer. The realizations that a great customer experience is the best marketing money can’t buy, and that brands are inherently social.

Heard it all before? Of course. But somehow it sounds more credible when spoken by the CMO of a large corporation, even more so when that CMO works for a company that actually practices what he preaches.

Check out this video of Best Buy CMO Barry Judge, talking about the future of marketing. Judge offers a nice overview of how Best Buy’s marketing approach has evolved from old school tell-n-sell, where it is now, and where it’s headed tomorrow.

This article was originally posted at Greg Verdino’s Blog, and is licensed under the Creative Commons 3.0 license.

Consumer Psychology in a Recession: Harvard Business School Video

Recessionary consumer behavior is discussed in this video with Professor John Quelch of Harvard Business School. He also talks about 4 types of consumers who are reacting in different ways to the economic environment, whether current consumer behaviors will become permanent, and when you should invest in marketing in a recession.

Video Clip of Martin Lindstrom Explaining Some Marketing Tricks

Buyology explores the question of why we buy and this clip is of Martin Lindstrom explaining some of the things marketers do to persuade people to buy even though the individual might not even realize they are being swayed.

Some of the examples he talks about is when retailers advertise “buy one get one free” but the two items is actually smaller in volume than just buying one larger item that costs less. Another “trick” is when a sign limits the amount you can buy such as “Limit 3 per customer” which adds some scarcity into the mind of the shopper.