The Oscars 2014 – a lesson for brands!
With all eyes on the Oscars recently, we at RED C thought it was time to think about five points marketers and brands can learn from the world of showbusiness!
Always look your best.
As evidenced by the array of glitzy gowns and dapper suits on the red carpet, image is a key component of success. Brands who work hard at ensuring they consistently represent themselves in the best possible light are best positioned in the market.
Develop your fan-base.
Movie stars and musicians owe their success to the general public valuing their work and becoming fans. Successful brands also need to have devoted fans who will remain loyal in the face of challenges, such as aggressive price competition or a new entrant into the market. In order to encourage this fan-base, brands should have a strong consumer focus which aims to move the relationship beyond mere function and into emotion.
Actors must play to their strengths and take roles to which they are suited– for example, we don’t expect to see Jim Parsons, (pictured) best known for playing nerdy Sheldon in the Big Bang Theory to be cast as an action hero anytime soon! Similarly, when brands are considering entering new markets, it is vital that any proposed extension is a logical fit and it is aligned with the core essence of the brand.
Deliver what you promise…
And then deliver some more! Almost every concert now features an encore from the act. While it is expected by the majority of the audience, it is still positioned as a “bonus” song or two after the concert is over, which generates good feeling among the crowd. A company which surprises and delights customers by delivering above and beyond what is expected will generate goodwill and positive brand consideration for the future.
There may be no business like showbusiness, but that doesn’t mean we can’t learn from it!