Podcast and Transcript from Knowledge@Wharton
MARKETING
Cracking the Code on Brand Growth
The battle for business growth does not take place on the internet or on store shelves. Rather, it takes place in the subconscious mind of prospective customers, whose purchasing decisions are more malleable than many brand leaders realize, write Michael Platt and Leslie Zane in this opinion piece. Zane is the founder of Triggers, a growth strategy company that has helped Fortune 500 firms with brand-building initiatives for 24 years. Platt is a professor of marketing, psychology and neuroscience at Wharton. He leads the school’s Neuroscience Initiative.
When Dollar Shave Club founder Michael Dubin launched his now famous YouTube video in 2012, no one imagined that it would cause earth-shaking tremors under razor behemoth Gillette. But it did. The tongue-in-cheek style video explaining the Club’s many virtues had a seismic effect. The day it was released, the brand’s website crashed from huge traffic. Within 48 hours, 12,000 orders were received. A few years later, Unilever bought the Club for $1 billion.
Most analyses of the Dollar Shave Club’s success conclude that it accomplished this feat because of millennials’ obsession with direct delivery, the founder’s comedic flair, or its bargain basement prices. We say it was something much deeper. In fact, Dollar Shave Club rose to prominence because it employed the formula we have discovered to be the key to changing subconscious brand preference: the expansion of a brand’s positive associations in customers’ memories to the point that it becomes an automatic, involuntary choice.
While some marketers have called this startup’s success an anomaly, we have found that the opposite is true. Every brand, whether a startup or an established household name, has untapped growth potential and the ability to become the automatic choice of more consumers. ... "
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