Keynote for PIASC Awards Luncheon Opportunities for Printers in 2010 Related to Brand Loyalty
My name is Linda Bishop. I’m proud to be the President and Chief Sales Officer of Thought Transformation. We’re a national sales consulting group helping companies like yours grow sales through a combination of tools, training and marketing tactics. My dad was born in 1924. He grew up in the depression. When he was 18, he joined the air force and was the radar operator on a bomber in the South Pacific. On one mission, the plane he was in was shot down and everyone but my dad died. As you might guess, that gave my dad a unique perspective on the value of life. He came back from the war and went to the University of Illinois on the Veteran’s Bill. He was in a fraternity—Phi Kappa Tau and he got an engineering degree. After college, he ended working at US Gypsum, a sheetrock manufacturer, in the purchasing department. He met my mother because she was the secretary for one of his suppliers. Remember those days . . . before voice mail and email—when secretaries were hired to take dictation, type letters, answer phones and write down messages on little pink slips. When I started selling, that world still existed. My parents got married in the early 1950s at the beginning of the golden age of advertising. Mass media like radio and TV gave brands gave companies a way to get their message out to millions and build brands. My dad was an Oldsmobile man. He saw that car as safe and reliable transportation for his family. The cars he bought were upscale, but not flashy but with big engines and plenty of acceleration. He liked a car that accelerated. It's been years since I've met someone who actually bought an Oldsmobile.
The truth is I meet fewer and fewer people who are loyal to any car brand. And it's not just cars. Brand loyalty is eroding in all areas of consumption. I read an article on Wired.com titled "The Decline of Brands." In it, the author quoted a study by retail-industry tracking firm NPD Group. The study found that nearly half of those who described themselves as highly loyal to a brand at one point in time were no longer loyal one year later. There was another disturbing statistic. Just 4% of consumers would be willing to stick with the brand if its competitors offered better value for the same price. Today’s consumers are fickle, promiscuous and more demanding. James Surowiecki, author of “The Decline of Brands,” calls this the “What have you done for me lately” economy. The ROI on dollars invested in corporate brands is declining. For printers, that is an opportunity. www.thoughttransformation.com
Meet Joe. Joe is an ordinary guy. We all know him. He’s a hard-working guy who has seen ups and downs. He’s married with two kids, and his wife’s birthday is coming up.
Joe wants to buy a pair of earrings for his wife. Where should he shop? Target or Tiffany’s?