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Harry Potter: The Story of a Global Business Phenomenon
 

Harry Potter: The Story of a Global Business Phenomenon

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Presentation given by Susan Gunelius, President & CEO of KeySplash Creative, Inc., at the July 2009 Azkatraz Symposium (a Harry Potter Education Fanon Event) held in San Francisco, California. Based ...

Presentation given by Susan Gunelius, President & CEO of KeySplash Creative, Inc., at the July 2009 Azkatraz Symposium (a Harry Potter Education Fanon Event) held in San Francisco, California. Based on information from Susan's book, "Harry Potter: The Story of a Global Business Phenomenon", available through most online and offline book sellers. (www.keysplashcreative.com)

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    Harry Potter: The Story of a Global Business Phenomenon Harry Potter: The Story of a Global Business Phenomenon Presentation Transcript

    • Harry Potter The Story of a Global Business Phenomenon By Susan Gunelius President & CEO KeySplash Creative, Inc. www.KeySplashCreative.com
    • Not another book about Harry Potter
    • How many of you…
    • Heard about Harry Potter from…
      • A friend,
      • A colleague,
      • A family member,
      • A stranger,
      • Or by any other person other than an ad or marketing effort?
      Have you read that new Harry Potter book?
    • That tells us one very important thing.
    • Harry Potter grew to be a global business phenomenon through WORD-OF-MOUTH MARKETING by CONSUMERS
    • But more about that later.
    • How Did the Value of the Harry Potter Brand Get Here?
    • The Secrets to Harry Potter Success
      • A good product
      • Emotional involvement
      • Word-of-mouth marketing and an online buzz
      • Tease and perpetual marketing
      • Brand consistency and restraint
    • Harry Potter is a good product.
      • Classic story of good vs. evil, awkward adolescence and friendship – We can all relate
      • Add magic, humor and suspense = recipe for success
    • A bad product won’t succeed. At least, not for long Ford Edsel
    • What’s the common denominator?
    • We’re emotionally involved in and connected to Harry Potter.
      • Emotionally involved customers protect a brand they care about.
      • They’re loyal to it.
      • They demand more from it.
    • 3 Ss of Consumer Emotional Involvement
      • S tability – consistent message
      • S ustainability – over time
      • S ecurity – comfort and peace-of-mind
    • Emotion and the Relationship Grow Over Time Good Product Bad Product Future Purchase Level of consumer emotion/feeling Positive Negative
    • A good product can evolve into a Cult Brand.
    • Until it becomes a true Relationship Brand
      • Relationship brands are built on experiences.
      • They often fill a void.
      • Consumers self-select how they want to interact with the brand by choosing from brand experiences.
      • Often those experiences are shared among groups.
    • Relationship brands are powerful.
    • People look for new ways to experience and share the brand.
    • People start talking about the brands they love.
      • Word-of-mouth marketing is powerful.
      • Loyal brand advocates are every brand manager’s dream.
      • Remember that Breck Shampoo commercial, “And she told two friends, and she told two friends, and so on, and so on, and …”
    • Word-of-mouth marketing and the online buzz begins and grows.
    • CAUTION Internet + Harry Potter =
    • Timing is everything.
      • Social web growing
      • Blogging
      • Online conversation
      • Word spread faster and wider
    • Kudos to J.K. Rowling and Scholastic
      • Recognized couldn’t stop online conversation so let it grow and drive brand to new heights of popularity
    • The Proof
      • W ith a multi-million dollar budget to spend as she pleased, Cindy Gordon of Universal Orlando Resort instead told just 7 people about the Wizarding World of Harry Potter .
      • A nd within just 24 hours 350 million people around the world heard the news .
      • A ll by telling just 7 people.
    • No one could escape Harry Potter.
    • But we want more!
    • Early marketing of Harry Potter followed typical publisher model.
      • Not until book sellers started telling customers about the new Harry Potter series that word started to spread.
      • Not until Arthur Levine of Scholastic bought U.S. rights to Harry Potter for unprecedented advance that buzz grew.
      • Press loved J.K. Rowling’s Cinderella story.
    • There’s marketing gold in those books!
      • 7-book, chronological series, virtually no story gap, same characters
      • Word of mouth marketing grew organically
      • Consumers demanded more
      Tease and perpetual marketing began
    • Pull marketing was the catalyst.
      • Customer demand drives sales, not marketing tactics.
      • Harry Potter fans demanded more and more and more!
      • Three year gap in waiting for a new product after release of first movie and fourth book in 2000 – 3 year gap until next book released.
    • Marketing team sees the opportunity and takes it.
      • Tease and perpetual marketing began.
      • Always something new to talk about.
      • Buzz never died.
      • One tactic fueled the next just as hype from one book fueled hype for next book, movie, etc.
      • Released information in bits and pieces (e.g., movie casting information, set stills, storyboards, “watch this space” hooks, etc.)
      • Storyline fed into tease and perpetual marketing strategies.
      • Always left fans wanting more.
    • We want Potter! We want Potter!
      • Book store parties
      • Shipping books wrapped in paper
      • Book store embargoes
    • Exercise Brand Consistency and Restraint
      • All brand touch points must communicate consistent brand message, image and promise.
      • J.K. Rowling acted as brand guardian protecting the brand
      • Brand restraint means not overextending the brand -- No Harry Potter on Happy Meals
      • Less merchandised than many other brands at time such as Shrek and Cars
      • Limiting brand extensions left fans wanting more and fed into pull marketing/tease and perpetual marketing strategies
    • Potter, Potter everywhere!
    • But don’t go too crazy!
    • What can we learn from Harry Potter?
    • Consumers made Harry Potter a global phenomenon.
    • Lesson 1
      • Don’t be afraid to let consumers take control, particularly on the social web.
    • Lesson 2
      • Allow consumers to become emotionally involved with your brand and develop relationships with it, which leads to brand loyalty and word-of-mouth marketing.
    • Lesson 3
      • Be consistent with your brand and exercise brand restraint in order to meet customer expectations and build loyalty further.
    • Can Harry Potter’s success be duplicated?
    • Yes!
      • Remember, I’m a marketer.
    • Problem in Duplicating Harry Potter’s Success
      • It would seem more manufactured and would carry less mystique.
    • Marketing Strategies for Harry Potter Successors
      • Market Follower: Differentiation – positioning as similar to Harry Potter but just far enough away and different enough to add new value to consumers.
      • Market Challenger: Reinventing the Category – Don’t imitate the market leader or pioneer brand. Instead, position product as completely different from Harry Potter by attacking leader’s weaknesses and tapping into unfulfilled needs. Strategy requires bigger investment.
    • How many of you have read Twilight?
    • What do you think? Can the success of Harry Potter be duplicated?
    • That leads to my final point. Thank God she’s almost done.
    • Consumers will make the next Harry Potter, not marketers.
      • Brand managers have to listen to consumers and deliver consistently to ensure the buzz about the brand continues.
      • Let consumers live the brand and make it their own.
      • Marketers must allow brands to grow and thrive at the hands of consumers with gentle pushes in the right direction along the way.
    • Read more in my book or contact me. Contact Susan Gunelius Website: www.KeySplashCreative.com Email: [email_address] Blog: www.KeySplashCreativeConversations.com Twitter: www.Twitter.com/susangunelius Facebook: www.Facebook.com/susangunelius LinkedIn: www.Linkedin.com/in/susangunelius