Brief Summary of Episode #330
Here's an interesting tale from long ago that most of us are familiar with – the Duracell Bunny ads from the 1980s. It's more relevant then you could imagine:
The 1980s Duracell commercial effectively focused on features, selling Duracell's product by explaining how durable and longer-lasting it was compared to its competitors. This worked well for their product – a simple, commoditized battery. But increasingly, the game has changed.
Here are two ways to flip the script for more effective communication in today's banking and fintech industry:
Differentiate your brand.
In financial services, most products appear as commodities. Your marketing has to go beyond simple laundry list of similar features. Present your products and services as unique solutions for the needs of your customers.
Shift the narrative.
Duracell, in 2014, revised their communication strategy and started focusing on the transformation that their product could potentially create in the lives of the users. Learning from them, we need to ensure our communication transcends mere list of features and touches the emotional chord of our prospective customers.
To truly make an impact, let's focus less on our products and more on the transformational stories that prospective customers desire to live.
After all, selling is all about paving way for a beautiful experience, isn't it?
Key Insights and Takeaways
- How Duracell transformed their ad strategy (04:01)
- The Narcissistic Marketing Model (13:57)
- The power of visual storytelling for emotional connection (24:44)
