\n
Completing the thought-provoking day was a back-and-forth about understanding consumers between our fourth speaker, Chris Loxley, and yours truly (David Wadsworth).<\/p>\n
Chris, a psychologist by trade, has a proven track record as a thought leader in behavioural science. As Head of Behavioural Science at Loved by Design, Chris works with a wide range of businesses, brands and organisations and it\u2019s his opinion that people don\u2019t think how they feel, they don\u2019t say what they think and don\u2019t do what they say. It\u2019s his job to unlock the unseen opportunities that reside in the hidden and often unspoken thought processes of the consumer.<\/p>\n
How do you change consumer behaviour? By his own admission, Chris is a theoretical guy and would use psychology.<\/p>\n
But for me, it\u2019s all about the customer experience. If a consumer has the best possible customer experience, they will be more engaged with the brand, they\u2019ll typically become an advocate for it by recommending and referring. They\u2019ll stick with the brand longer.<\/p>\n
Chris spoke about social proofing \u2013 that\u2019s a concept that says we are all influenced by the people around us, so if you see someone doing something you feel you\u2019ve got to do the same. (Does the recent panic at the fuel pumps, spring to mind?)<\/p>\n
Social proofing is used to generate anticipation and demand. You\u2019re online, there are five people watching a product, 13 people buying it and there\u2019s only another 13 in stock. It creates panic, urgency, even desire. Reviews and recommendations are another example of social proofing, I know I\u2019m not the only one guilty of scrolling through hundreds of reviews from people I have never heard of before deciding whether to buy a product, or book a table.<\/p>\n
We also spoke about the four pillars of marketing, known as the 4Ps \u2013 product, price, place and promotion. \u201cAre they still relevant?\u201d I was asked.<\/p>\n
They absolutely are, but tend to be a concept many companies fail to truly understand and engage with in today\u2019s fast moving, digital centric world.<\/p>\n\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n\n
\n <\/div>\n\n\n
\n
\n\n
\n
\n
\n
\n
\n
Left to right: Graeme Hinde (LFX), Chris Loxley (LovedBy Design), David Wadsworth (Cornerstone DM)<\/p>\n<\/small>\n
\n <\/div>\n
\n

\n
\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n\n
\n <\/div>\n\n\n
\n
\n
\n\n
\n
\n
\n
\n
\n <\/div>\n
\n
The 4Ps still underpin strategy at any level, and via any channel. They can power product development, pricing strategy and channel strategy as well as the art of promotion, or communications, which sadly is where many marketeers are now pigeon holed into. I think consumer insight is a dying art of marketing. These days marketers communicate to consumers. But we are the ones who need to listen to them, do research and feed it back at corporate level. If you\u2019re not going into a new strategy acknowledging that you know nothing about the consumer, your strategy is most likely going to be biased, and missing some great opportunities.<\/p>\n
We could have talked for hours on the topic and how consumer behaviour can be used more extensively in the full marketing and product mix.<\/p>\n
Each talk brought some thought-provoking ideas and insights to the table, and certainly gave myself, and without doubt the audience plenty to think and talk about. We\u2019re looking forward to the next event which takes place in Wales in November, where I\u2019ll be speaking again, this time on wider marketing strategy and campaign implementation.<\/p>\n
<\/p>\n\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n\n
\n <\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":9987,"template":"","class_list":["post-9981","cs_blogs","type-cs_blogs","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/cs_blogs\/9981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/cs_blogs"}],"about":[{"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/types\/cs_blogs"}],"author":[{"embeddable":true,"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/users\/5"}],"version-history":[{"count":0,"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/cs_blogs\/9981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/media\/9987"}],"wp:attachment":[{"href":"https:\/\/cornerstonedm.co.uk\/wp-json\/wp\/v2\/media?parent=9981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}