Brandworks University 2010, Day One

Each year for the past twenty, Brandworks University assembles the brightest and most compelling names in marketing together for a high-level immersion into the art and science of brand development and engagement. This year's edition kicked off yesterday here in Madison, and the Day One line-up rocked.

As always, Brandworks founder Marsha Lindsay (Lindsay, Stone & Briggs) kicked off the conference by challenging the gathered to better understand the "why" of consumer engagement and persuasion. Among her top points:

• The Brain doesn't think. It Acts.

• The More the Consumer Pays, the More they Rationalize the Price.

• The Brain actually wants and seeks out Change.

• If we had a Social Network of 150, and each of them had 150 each and each of them had 150 each...we're talking millions of people that can be influenced by a single person.

Dan Ariely stepped up next with a message that readers of this blog know is close to my heart...the concept of consequence:

• Consumers often do not consider what they are forfeiting to make the purchases they do...and rarely even grasp the concept.

• We remember WHAT we did...but often not WHY.

• The Brain is designed to Determine Differences rather than Similarities. Because of this, we assume we are all very different when we are, in fact, very similar (this, of course, goes against "The Long Tail").

• Lower product pricing decreases expectation.

• Discounting Devalues Brands (are you listening?).


Robert Cialdini (author of "Influence") kicked off the afternoon with the challenge that consumer uncertainty isn't just because of the economy. It's also being powered by information overload...and we don't know who to believe.

• Consumers are more motivated by the fear of loss than the desire to possess.

• As we become more uncertain, we become more loss averse.

• Nobody can beat you if you have Knowledge and Trustworthiness on your side.

• The word 'but" says ignore everything said prior and listen to what comes next.


I first heard pollster and Fox Analyst Frank Luntz in a rare "unplugged" session a few years ago in Myrtle Beach...so I was jazzed for his message at Brandworks. And he didn't disappoint:

• If you have to say your product is incredible...it probably isn't.

• Our biggest mistake is selling our water when we should be selling their thirst.

• We don't trust CEOs anymore. Thus, Sprint should sit Dan Hesse and feature their employees in their TV ads.

• 72% of us are "mad as hell."

• A hassle-free experience beats discount 62-38.

• "Imagine" is the most powerful word in the English language...because it includes the person hearing it.


And storyteller Loren Niemi closed the day with this pearl:

• Humans use storytelling to organize chaos.

I think we need a lot more stories. And I can't wait for Day Two!

And you can follow along on Twitter through the hashtag #lsbbu.

Comments

[Meilee]

Egads! Too much wisdom packed in one blog post. It'll take me the rest of the year to embrace and implement each concept.

(Keep 'em coming though it's good stuff!)