I recently came across this article:
It relates the results of a study conducted in the Asia Pacific region, by Australians, that bears out what we’ve known about customers and loyalty for half a decade up here.
Seems like around the world, companies with homes as far and wide as Australia, are experiencing the same phenomena. The century-old marketing funnel is dead. The need for mass awareness is buried. The imperative to improve products and services, provide consistency, and concentrate on the post-purchase experience is growing ever-more important than vast mass media spends and markdowning.
The century-old marketing funnel is dead
But then why wouldn’t they be? As consumers (odious word, but it will have to do), wherever they live, from Tipperary to Timbuktu, are looking for the same things from brands. All over the world, BOGOs, gifts with purchase, and vast discounts do not a brand make. And you really don’t need an Australian posse to confirm this, do you? Just ask yourself.
So stick a fork in flyers, sale days and overblown online and traditional media campaigns—they are so, so done. The new kings of the marketing jungle are having a clearly defined purpose, and being remarkable, involved, pervasive, relatable and inspiring.
Maybe it’s just the time difference, but we have had crystal clarity on this for the last five years.
Still, it’s good to know that the same hallmarks of cult brands are alive and well, and thriving all over the world.