Monday, January 30, 2006

Jennifer Rice on Consumer Trends

Jennifer Rice of What's Your Brand Mantra and Corante's BrandShift is a brand strategist and evangelist for relationship-centric brands. In speaking to libraries about the 6 major consumer trends that impact everyone...including libraries:

  1. Convenience (Fast food, Delivery, Concierge services)
  2. Community ("I want to belong!", grassroots, collaborative economy. Bowling Alone, Maslow's hierarchy.)
  3. Control ("I want to learn it and do it myself." The era of empowerment.) Empowering brands: Nike, Google, Home Depot "You can do it, we can help."
  4. Choice ("I've got to have options." Age of abundance...Choice maximizers." The Paradox of Choice) Choice-maximizing brands: Google, eBay, Amazon, Netflix ---> Convenience and Choice are things that people are willing to pay for. They'll tell you Free is important--but when push comes to shove, I'm willing to pay.
  5. Experience ("Wow me." Word of Mouth marketing--you'll listen to your friends, but not to advertising. Your actions are your marketing.
  6. Commoditization--The internet has commoditized information--but it cannot commoditize an experience: taste, touch, smell, sight, service. The senses in your library...put a fountain in? Experiential brands: Starbucks, Dave & Busters, Niketown, Borders (Edu-tainment)

Take just one idea here and RUN WITH IT!!!!

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