Marketing Dojo #49: 🌈The Magic Of A Pinky Promise 🤞
Consumer Promises & Brand Building, Customer Confidence in AI, Nike x Dove Collaboration & More.
🎉 Happy New Year Everyone!🎉
As we enter 2024, I reflect on a rollercoaster 2023 – a year full of ups and downs. I hope to enter the new year as a smarter, more disciplined.
I started writing the newsletter from week 1 of January last year. Writing weekly for a year has been a lesson in consistency & patience. For 2024, I hope to take the next significant steps:
Actively grow my audience - more cross-platform promotions, ads even.
Dabble into short-form video - I want to try this, though I am incredibly camera-shy. Wish me luck.
Repurpose the content more - The writing has been so consuming that I still need to determine how to maximize content repurposing.
And what about you? What are your aspirations for 2024?
In this edition of The Marketing Dojo, we're unpacking some exciting topics:
🤖 What do our customers think about Artificial Intelligence?
🤝 The significance of pinky promise by brands.
🏆 Dove & Nike's win-win partnership
✨Creative excellence: The tiny bag trend
And more.
BTW, have you ever stumbled upon a gem of a quote or article, jotted it down, and then... it just vanished from your memory? I've been there!
Systematically, maintaining digital notes helps us maximize the returns on our curiosity. If you're a note-taking enthusiast or plain curious, check out my digital note-organizing tips in the PS section at the end.
With that, let's dive right in.
The AI Tightrope: Balancing Business Innovation With Consumer Confidence.
2023 was a breakout year for Artificial Intelligence, reshaping numerous facets of the customer experience. Axciom's 2024 CX predictions break down AI's capabilities into four key areas:
Generative AI: The technology enables brands to swiftly create personalized advertisements, tailoring marketing to individual preferences and behaviours.
Machine Learning: Generate practical recommendations across channels, making it easier for users to discover relevant content, products or services.
Conversational AI: Large language models are transforming search, virtual assistant & chatbot experiences
Computer Vision: This area involves interpreting visual data, with applications ranging from facial recognition to pattern analysis in images and videos.
But how comfortable are users with the implementation of AI-based solutions?
Gartner conducted a study to determine consumer confidence and comfort with AI implementation. Think of it as a chart that shows what consumers think AI should do v/s what AI-based technologies could do.
Making shopping recommendations, summarizing content, creating ads, or enabling a chatbot experience are tasks that consumers are highly comfortable with when considering AI-based technology implementations. These are areas where AI's involvement is seen as beneficial and non-intrusive.
Conversely, there is significant consumer reluctance regarding AI's role in health diagnoses and financial investment decisions. Here, the preference leans towards human judgment and expertise.
The study also uncovers a gap between business ambitions and consumer trust.
While businesses are keen to leverage AI for complex tasks like handling financial investments, consumer confidence lags, suggesting a potential mismatch in expectations.
As companies continue to invest in integrating AI into their products, services, and processes, understanding and respecting consumer comfort levels is crucial.
Keeping an eye on consumer confidence and acceptability with reports such as Gartner's Consumer Confidence Report will help brands manage messaging & be realistic about the mass adoption of solutions.
The Power of the Pinky Promise.
"Pinky Promise! Because It's the Most Solemn Vow There Is." - Wonka (2023)
Caught Wonka on the big screen yet? After a long time, I saw a genuinely feel-good magical movie. It's a perfect festive watch. But while everything else in the film is mythical, the magic of promises goes well beyond the chocolaty world of Wonka.
In marketing, customer promises can be crucial for your brand's growth. HBR's latest article, The Right Way To Build a Brand, is a must-read for all marketers.
The article bases its insights on an analysis of the 2000+ case studies by the World Advertising Research Council (WARC). The research compared campaigns that made promises (40%) against those that didn't (60%).
Campaigns with promises outperformed those with none in most aspects, such as commercial success, brand health improvement and sales spikes.
The only element where campaigns with no promises did marginally better was creating social media buzz.
The nature of these promises varied, encompassing emotional (35%), functional (32%), enjoyable experience (22%), value for money (5%), and sustainability (4%)*.
Another key takeaway from the research: Promises that focus on customer benefits trump those centring on the brand.
Here's a comparison of the two ads - a promise by Geico that focuses on a specific customer benefit vs. a commitment by its competitor, Allstate, that focuses on how good the brand is.
Making and fulfilling a promise is undeniably the best way to build trust and foster a relationship. Consider making a promise if you're brainstorming for a campaign that yields tangible results.
*Some campaigns had more than one type of promise
Creative Excellence: Knorr Has Cracked The Miniature Bag Puzzle.
Rihanna, Jisoo, Sofia Richie, Kate Middleton, and Katie Holmes have all been seen embracing a peculiar fashion trend recently: miniature handbags.
These tiny accessories have become a stylish symbol in 2023, but they pose an intriguing question: What exactly can one fit inside these minuscule purses?
The folks at Knorr have a perfect answer for the dilemma - The tiniest of tiny bags are designed to carry a single Knorr stock cube.
The advertisement, riding the wave of this trend, strikes the perfect balance between humour and brand promotion. It's not just the catchy concept; the execution is spot-on. The ad is splashed with Knorr's signature green, ensuring that while the viewers are entertained, they unmistakably remember the brand.
Marketing For Good: Dove x Nike Collaboration for Body Confident Sport.
The Nike x Dove collaboration is a shining example of how brands can positively impact society.
The two brands have co-created the"Body Confident Sports" initiative, which addresses a critical issue: body positivity in sports, especially among young girls aged 11 to 17.
As girls enter puberty, they often face heightened appearance-related anxieties. A staggering 45% of teenage girls drop out of sports, a rate twice that of their male counterparts. This troubling trend is what Nike and Dove, in collaboration with the Centre of Appearance Research and the Tucker Centre, aim to counteract.
The program is aimed at coaches and parents to help them address appearance-related anxieties in sports.
The initiative includes two main components:
Body Confident Coaching: This online resource equips coaches with the tools to create a body-positive environment.
Body Confident Athletes: An in-person program delivered by coaches to girls aged 11-17, focusing on cultivating self-esteem and body confidence among young athletes.
Dove has long been synonymous with campaigns promoting self-esteem, and Nike's standing as a leading sports brand is undisputed. Their partnership sets a precedent for what brand partnerships can achieve in terms of social impact.
Kudos! I hope we see more meaningful partnerships emerge in 2024.
Short Stuff:
Google starts phasing out third-party cookies. (The cookie is finally crumbling).
Amazon Prime Video will charge to remove ads starting January 29 (Yet another streamer adding an ad-supported tier).
That’s a wrap on this week. Thank you for your time and attention. If you liked this week’s newsletter or found something interesting - please give me a like or drop a comment. Your support helps drive the discoverability of the newsletter.
Once again, thank you for your time. See you in your inbox next Wednesday.
Regards,
P.S.: Tiago Forte's PARA is a short but actionable read. I have been struggling with an optimum way to manage my digital life. Here's a super quick rundown -
Start with the Basics: Choose your favourite tools for note-taking, email, and cloud storage.
Set Up Four Key Folders:
00 Inbox: This is your digital waiting room. Items stay here temporarily before you categorize them.
01 Projects: For those short-term projects with precise end dates.
02 Areas: A place for ongoing responsibilities or long-term commitments.
03 Resources: Store anything here that you find interesting or potentially useful.
04 Archives: The final resting place for completed projects.
Routine Categorization: Once or twice a week, take time to sort your documents, emails, and notes into these folders. This regular upkeep is crucial for the system to work effectively.
I am enjoying the process of neatly organizing my notions, one note, Google Drive & Outlook. Give it a try if you find yourself struggling with information overload.