Since we don’t have an entrepreneurship module on our course, our student committee was able to set up a workshop for us focused on entrepreneurship and analytics. Below are some of the key take aways from presentations by Mat Braddy and Paul Cook.
BUILDING CHALLANGER BRANDS
Mat Braddy founder Rock Pamper Scissors
“Be the first thing out of someone’s mouth.”
UNDERSTAND THE BRAIN
It’s better to build brands through emotional messages rather than rational messages (tell emotional stories).
-Pilot brain: rational messages –> short term action
-Autopilot: emotional brand message –> long term habit
BUILD A CHALLANGER BRAND
Having a personality makes you more memorable.
-Become a lighthouse; not all things to all people
-Changing the category decisions making criteria in our favour
-Overcommit to ideas
-Becoming the category thought leader
AVOID THE MUSHY MIDDLE (e.g. food delivery brand advertisements always include a cheese lift…boring…be different!)
Who are WE? exercise to do with employees:
-What do we believe?
-What is our personality and tone of voice?
-What is the philosophy of our product or service?
-What is our rally cry?
Understand how you can destroy your own business.
Reduce services to utter simplicity with low commitment.
IDENTIFYING, SIZING AND TARGETING A POTENTIAL AUDIENCE
Paul Cook founder of Noetika
“Data is your marketing planning fuel.”
(1) Learn, improve, optimise.
(2) The four V’s of Big Data
(3) Simple solutions are not ‘wrong’.
(4) Build a compelling story.
-Cut through noise
-Deliver a message that resonates
-Create clear call-to-action
-Make sure there is a so what?
(5) Cameodynamic.com splits people into categories: an important tool for segmentation.
(6) Dispel any myths about your customer.