#4 Marketing Dojo Newsletter: Lunar New Year, The Super bowl and Attempt at Persuading You To Listen To A Podcast.

It's time for festivities, games and increased marketing spends.

I missed writing the newsletter last Monday. Covid finally caught up with my family again, and I had my hands full dealing with Omicron. All's well that ends well. We are all back to being as good as new.

Back to today's newsletter!

Xin Nian Kuai Le (Happy new year).

This week, China, Vietnam, Korea and Mongolia will celebrate the Lunar new year. 

The lunar new year is a big deal as the holiday season spurs travel and shopping. With no travel in sight this year, more dollars are being spent on shopping - leading to more extensive than ever advertising & retail promotions. Last year, Chinese consumers spent 821 billion yuan (USD 129 Billion) on retail and catering, up 28.7% from the holiday in COVID-ravaged 2020.

With new travel restrictions in China, the consumers are spending on luxury experiences - most high-end hotels are sold out.

This article by Talkwalker highlights five engaging campaigns and visualizes conversations & emojis related to CNY. 

The graph of mentions of CNY has a global spread (though the mainland China numbers look small) - the event is getting global. 

Picture courtesy: Talkwalker.

Podcast recommendation:

Robert Cialdini is the final authority on persuasion. His principles of persuasion have stood the test of time. Irrespective of your industry, role or objectives - his principles apply. This podcast is an excellent recap of his ideas.

Bonus: He introduces a new eighth principle of persuasion - Unity. 

This one is a must-listen - so grab those headphones. 

TL;DR : Robert Cialdini's seven principles are:

• Reciprocity

• Commitment/consistency

• Social proof

• Authority

• Liking

• Scarcity

• Unity

Love is in the air for brands at Superbowl. 

Superbowl is just 14 days away (falling on the same day as Valentine's day). Despite the pandemic, the spots for advertising in Superbowl 2022 got sold in record time and at record costs. 

The cost of a 30-second advertising spot in 2021 was USD 5.6 Million. In 2022, the 30-second spot has sold for $6 Million. 

Visualization courtesy: Statista

In 2021, the games attracted a viewership of 91.5 Million. 

How do brands justify this spending during the bio-break time for a highly watched game? 

This article by Wall Street Journal cites researchers at Stanford University and Humboldt University in Berlin. The researchers studied three brands- Anheuser-Busch, Coca-cola and Pepsi.

The results? Super Bowl ads increased revenue by 10% to 15% per household in the following eight weeks—unless a competitor advertised during the same game.

 

Reading Recommendation: 

I just finished my first book of 2022 - How innovation works by Matt Ridley. It is an enjoyable read. I will share a detailed review of the book in the following newsletter but lemme leave you with a knowledge bomb from the author.  

"The main theme of human history is that we become steadily more specialized in what we produce, and steadily more diversified in what we consume: we move away from precarious self-sufficiency to safer mutual interdependence."

A more detailed review is coming soon.

That's it for this week's newsletter. It is good to be back to writing. If you enjoyed any particular article today, give me a shoutout. If you enjoyed the newsletter today, why not share it with your friends and colleagues.

Here's wishing you a year of happiness and prosperity. Gong Xi Fa Cai! 

Warm Regards,

Garima Mamgain

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