Consistency Vs Creativity

Why brands succeed or fail : The Persuasion Factor

"Half the money I spend on advertising is wasted, the trouble is I don't know which half." So said John Wanamaker.Indeed this question continues to be asked even today by every marketing and communication professional across every discipline as new brand failure rates across category range from 40% right upto 75% in the packaged consumer goods retail categories.

While it is impossible to give one reason to account for all product failures, what is emerging as an important reason for consumer off-take is the extent of Persuasion Factor that a brand has built into it.

A brand's Persuasion Factor is what drives a consumer to finally choose, select and purchase it over all it competitors. Persuasion Factor is very different from the other attributes brands use today in their identity viz. brand values, brand differentiator, consumer insight and brand personality. While all of these are important in defining a brand and in making it distinct, none of them can guarantee that a consumer will definitely buy the brand in question. 

Persuasion Factor as the name suggests, is the indicator of this very critical aspect of consumer selection. Brands with a low Persuasion Factor will definitely not get picked up whereas brands with a high Persuasion Factors have a greater chance of being purchased. Persuasion Factor is not merely a communication variable, it's intrinsic to a brand's DNA, instilled in it during the creation process.

Brands that have a high Persuasion Factor have a clear answer to the question: "What about this brand makes it impossible for a consumer to resist buying?"

If the answer is merely Hritik Roshan or Shahrukh Khan, you know just how little that's going to help.

Similarly, answers that are mundane and given simply to fill up the blanks aren't really going to work in the marketplace e.g It's convenient or It's cheaper.

The answer has to be and sound COMPELLING.

Why will a consumer break an age old habit to pick this?

Why does he NOT BUY a cheaper, equally good option but choose to pay a premium for this brand?

What will make her take the trouble to walk all the way to come to this shop for his groceries?

Persuasion Factor is the sum total of reasons that drives, needles and forces a consumer to undergo discomfort, jump out of his/her comfort zone, take a gamble, fight lethargy, habit, tradition OR change, peer pressure and modernity... to choose your brand.

Where does your brand score in the Persuasion Factor index?

Deja Vu

In 1985 India greeted Rajiv Gandhi with the same enthusiasm that Modi received 3 decades later. Both promised a clean, corruption-free and efficient governance. To effect this, both leaders brought in or supported honest and renowned technocrats to clean up the system.

But it's difficult for a leader to clean a system if he's fed on it to reach the top. The movie 'Guru' hinted at the undoing of Rajiv Gandhi. We all know how Rajiv Gandhi lost his aura, his hold on the people and eventually power.
The removal of Raghuram Rajan as the RBI governor is a sign that once again corruption is winning in India. Rajan's monetary policies may or may not be perfect we'll never know but his intent and action taken to weed out bloodsucking parasites who have mastered the art of bleeding money from the banking system was spot on.

In this honorable effort he clearly stepped on the toes of the powerful businesses backing the ruling party and its leaders. The silence from both the PM and the FM speaks out loud and clear.

India lost again.

How Ideas Lose Luster

In its attempt to provide content for its members, Facebook spawned an entire industry of content creators and curators who flood our pages based on trends, news and interests.
This has had an opposite effect. It's made news feeds more predictable and uniform. Notice the similarity of topics being discussed also among the same set of friends.
It's killed the spontaneity and originality that once forced us to write original posts. Today all we do is share and like. Wait, even likes are defined by love laugh anger emoticons further reducing the effort of conversations and comments.
But in this effort to create an easier world on Facebook, it's ended up making it similar to the real one.
Something tells me that change is staring us in our faces. Something that will lure us with a bold idea and the excitement of creation and connection.

Motivation

A nation is reflected in its values

Today I was pleasantly surprised when I accompanied my elderly parents for their morning walk.
Every morning for many years now they've been going to this community walking track built by the municipal authorities just behind their house. 
Right from the time they exited the building, I found that they're being greeted by complete strangers. People walking on the opposite sides cross over to wish my parents. Groups of people walking together at the track stop to wish them. There's a disabled man who can barely walk but even he walks upto them to greet them.
Young people slow down their running and touch my parent's feet and wish them.
"Namaste" 
That simple and wonderful Indian word. I see people from all parts of India say this as they greet my elderly parents. Kannada, Punjabi, Bengali, Marathi, Gujarati, Marwari.....Every part of India. Many reach down to touch their feet.
Respect and warmth for parents, done with genuine care and affection. Even with complete strangers. 
How beautiful is my country's heart. How intrinsically good, caring and warm are my fellow Indians. It restores your faith in the concept of India. 
True it is, Mera Bharat mahaan!

Insight: In realty location is luxury

Our ad for Paranjape Schemes in today's TOI :)

The insight about buying homes, especially in Mumbai, for ages has always been: location, location, location.

So while lots of other real estate developers will talk about 'living with nature', 'reclaiming childhood for your kids' or prop up a celebrity for lack of a good reason, The Lonely Cloud Consulting simply highlights that critical aspect of location.