In January 2019, both Netflix and Hulu released documentaries cataloging the disastrous Fyre Festival. Originally intended to be a celebration to promote the talent booking app Fyre, the festival is now infamously known for being an example of “false marketing”.

As businesspeople, we can learn a lot from the Fyre Festival in regards to how to market products.

The power of Social Media and Influencers

The advertisement campaign for the Fyre Festival was incredibly successful as it was considered the primary reason people were enticed into buying tickets. When we look at the original campaign the idea behind it was incredibly simplistic but effective. By hiring models with large social media followings (Instagram) who acted as influencers, they were able to create intrigue and hype for the Fyre Festival by simply posting an orange square on their social media feeds with the hashtag FyreFestival.

The Fyre Festival shows us how powerful social media can be when it comes to advertising. People have a lot of trust in the opinions of others. And through that basic knowledge, companies use Influencers due to their ability to galvanize interest in a product/service by simply posting about it in social media or staring in a commercial.

Honor the interests of your partners

Business is a conversation between various people. While the conversation between consumers and business is the foundation that will generate profits, the conversation between business parties is just as important. In the case of the Fyre Festival, they did not honor the interests of their partners. When making the deal to have the Festival on the island owned by Pablo Escobar, Fyre was asked to not mention the island was owned by Pablo in any of their marketing. Fyre didn’t honor that ask and broadcasted that information in their first advertisement. Because of this, they lost the rights to hold the festival on the island making them have to relocate.

By not maintaining the interests of all parties involved, the Fyre Festival began its downward spiral into the catastrophe it is seen as today.

Honest Marketing

The Fyre Festival is a textbook case of false marketing and making promises that could not be kept. Almost every detail of the festival was a falsity when compared to what was advertised. The biggest problem facing the Fyre Festival was that they did not have the funds to provide what they were promising guests.
The CEO of Fyre Billy McFarland knew that he wasn’t delivering what he had promised, and despite numerous members of the Fyre Team raising their concerns to him he constantly ignored or replaced them.

When marketing, you need to make sure you can deliver on what you are promising. If you can not, you need to let people know before a sale is made that the product is not what was advertised. If you don’t, it can lead to legal trouble and based on the number of people affected the punishment can increase.

The Fyre Festival is a cautionary tale to businesspeople. It is a great case study showing how powerful social media and influencers are when it comes to marketing a product. However, if you can not fulfill the promises you are making, that promotional material can lead to a disaster.

 

 

Forms are everywhere. Most of us will fill in at least one form every day: logging in at work, filling in timesheets, signing for credit card purchases, etc. Major events in our lives have forms associated with them, from the birth register filled in by the nurse or midwife when we are born to marriage certificates, passport applications, and voter registrations.

Most companies spend millions of dollars to market their product and services. Companies focus a lot of effort in order to make sure  the buying experience on their websites are excellent. The buying experience will increase the chances of buying, and can develop loyal customers to the website. 60% of the buying experience relies on the form that needs to be filled to complete the purchase order. Simple forms are considered more user friendly and improve the buying experience, while  forms that are very complicated or not clear will cause frustration and make potential buyers leave your website without purchasing your product and/or services.

If you understand people, you are able to design better forms. There are typically three types of  people visiting your website; first, rushers, refuses, and readers. Readers carefully read the form before making a purchase. Rushers begin completing fields and only read when they think it is necessary. Refusers these users won’t have anything to do with the form. When making a form, you need to make one that all three of these users are capable of using.

According to Caroline Jarrett and Gerry Gaffney’s  Forms that Work, there are three layers of the form to capture full information from your customer. These are a relationship, conversation, and appearance. The relationship of a form is the relationship between the organization that is asking the questions and the person who is answering. The conversation of a form comes from the questions that it asks, any other instructions, and the way the form is arranged into topics. The appearance of a form is the way that it looks: the arrangement of text, input areas such as fields and graphics, and the use of color. By applying the right technique you can convert your prospect to the client. if you have any question feel free to email us.

 

Resource used: Forms that Work: Designing Web Forms for Usability

 

 

 

 

 

Scarcity

Scarcity is a concept of advertising that the quantity of a product available is limited. For example using words like “limited” or “while supplies last” incentivize a potential customer into purchasing something out of impulse as the idea is if they do not, the item will be lost to them forever. If you are advertising through Linkedin, try to point out the limited availability of your service or product.

Reciprocity

Nothing is more appreciated than the kindness of strangers. Reciprocity is to give selflessly or generously without expecting something back in return. For many people, seeing reciprocity is enough to make them want to work with or do business with you due to the moral character you portray. If you want to improve your reciprocity via LinkedIn, try to promote links that give you no personal gain that might be valuable to your followers or try to introduce people to one and other to help them develop connections and create business opportunities for them.

Consistency

People will typically not be willing to jump into something that they find unknown, therefore it is essential that there is a way for them to understand what they are looking at. Consistency is important because it acts as the proof of concept for what you are offering. By having a consistent output of content, you are able to give people a better idea of what you offer. With LinkedIn creating content and engaging with other LinkedIn users frequently is a good way to improve consistency.

Authority

While constantly creating content can be good, if that content is not quality then you are not showing anything of worth. Authority is about creating a premiere image of your company. Many companies make a mistake of making most of their posts about them or their business. To create authority, one must find or create quality content that is designed to help their audience more than themselves. Because only a small amount of people who engage in your content will actually become clients of yours, so creating content that incentivizes people to work with you must advertise their best interests.

Social Proof

Social Proof is based on the psychological concept that our judgment and opinions are based a great deal on the consensus of a majority group or an established figurehead. When trying to generate a social proof, obtaining recommendations is a must. Recommendations can come from many kinds of people. Customers, established business people, former employers, etc. Obtaining recommendations might come from either someone genuinely enjoying the service or content you create, or you can ask for a recommendation via personalized requests or appeals.

Liking

A personality can carry your business quite far. When customers like you as an individual, they will be more inclined to do business with you. Being more relatable on LinkedIn can go leaps and bounds in improving how many people like you. Try to have conversations with people and be friendly and approachable. Your social character can carry you a long way, even in the most saturated markets.

 

Neuromarketing is a means in which marketers are capable of identifying behavior and patterns in customers that makes them purchase a product. If a marketer is able to tap into the “why” a person buys, they are capable of creating focused advertisements to radically boost sales. Here are some of the benefits of Neuromarketing

Find a new viewpoint

For marketers, understanding the “why” their customer buys can help them tailor new products and plans for the future of their business. It also lets them have a new opinion on how to proceed with their business and they might be able to see a challenge that is facing their business in a new light.

Identify emotional triggers

Emotion can be a powerful motivator when it comes to actions in people. Through Neuromarketing, marketers try to understand what causes a person to feel the way they do. Once their emotions are identified, the next step is to understand what action will they take? By learning why people feel the way they do, marketers are able to understand why they act the way they do.

Understand the similarities differences between different groups

Everyone reacts to things in a different way. By using Neuromarketing you can observe similarities and differences among people and then using those observations create targeted campaigns to unique groups or try to promote a similar theme among all the groups.

Develop better brands

Through Neuromarketing, marketers are able to create stronger brand association through creating logos designed to get a response out of people, or materials designed to place ideas into the minds of consumers. This technique is known as priming, and it can say more about your business than an entire ad campaign.

 

Neuromarketing is a form of marketing that leverages neurophysiology in order to understand why people make purchasing decisions. The principles of neuromarketing can be seen in various forms of advertisement such as video, print or packaging. These advertisements are meticulously crafted in order to trigger a feeling in people who view it. Here are a few examples of elements within advertisements that are crafted or altered using the principles of neuromarketing.

Colours

In Neuromarketing, the importance of colour can not be understated. It has been observed that when people see certain colours, they feel different things. Because of this, advertisements using Neuromarketing select various colours in order to trigger a reaction out of a person. For example, the colour of blue triggers the idea that something is dependable or reassuring. This is why many financial institutes use blue as a colour in their logo or advertisements.

Eye Gaze

In Neuromarketing, one of the factors considered is Eye Gaze. Eye Gaze refers to when a person looks at something, where are their eyes gravitating towards? Neuromarketers research ads with test groups to identify the points of interest a person will have when they look at it. For example, people gravitate to faces and people more than text.

Decision Making

Neuromarketers noticed that when people are presented with numerous options, they are more likely not to make a choice due to “decision paralysis”. Because of this, the idea of reducing the amount of choices presented to a viewer makes them more likely to make a decision

Rewards

By offering rewards or incentives, people are more likely to stick with a product or service longer than they would have normally. By giving a customer positive feedback, you are encouraging them to keep using your product because they feel it is fulfilling. Because of this, businesses promote themselves offering rewards to loyal members or to newcomers to incentivize a buy-in.