3 Ways to Effectively Market to Children

The children market is a very unique one. They are the backbone of many business, even though they don’t make any purchases themselves. Even then, there are certain tactics that we can use to make kids want the product and the parents buy it for them. Here are 3 ways to effectively market to children.

1. Make It an “Cool” Toy

Kids these days want to fit in, and be popular with their peers. No kid wants to feel left out, so making the product seem like every other kid has it already is a big step towards getting that kid to buy it. It’s almost like how a lot of my friends bought smartphones just because everyone else had one, and they didn’t want to feel left out. Peer pressure is one of the best ways to get children to buy something.

2. Demonstrate Great Value

Since the product will in the end, be bought by the parent, the product needs to show great value, so that the parents are convinced. The kid has to basically sell the product to its parent, so if it is overpriced or doesn’t do much, it will be hard for them to buy it. Kids just care about the toy itself, so this tip mainly goes towards the person actually behind the buy, the parent.

3. Safety

All parents care deeply about their kid’s safety. None of them want their kid to get hurt, especially not from some toy or board game. So, if you’re product doesn’t have built in safety features, or isn’t safe overall, the parent is reluctant to buy it. Now, im not saying that the product should be safe to the point where the child can’t play with it, but it needs to be safe enough that the parent is comfortable.

As you can see from above, there are many different ways to reach kids. This is just 3 of the vast amount of directions there are to reach kids, and I hope that at least one works. After all, these kids could end up being your main source of revenue for your business. Due to how quickly they can spread something, they certainly have the potential to.

About Sumukh Setty:

Sumukh is a budding author (First Book: What We Wish We Could Do At School). You can follow him on Twitter at @SumukhSetty.

How NeuroMarketing Can Help Your Business

The makings of our brain, the most important organ of our body, had been a mystery at one point in time. How we think, what triggers emotions and more still hadn’t been figured out. Then, a new wave of technology swept over, and got to the inner workings of our brain. Companies could then use this technology to figure out what the customer prefers in design, packaging etc. It’s an amazing science, that honestly isn’t being used as much as it should be.

I believe that neuromarketing is useful to a business because it gives the company valuable details about their target customer, it helps them customize their offerings, and it gives them insight into what forms of marketing should and should not be used.

What is Neuromarketing?

Neuromarketing uncovers what our brains really want from us, and enables companies to deliver that.

To start, let’s look at two different companies:

Company A: This company uses traditional marketing tactics, designs their product according to what the company executives want, and uses dead forms of advertising.

Company B: On the other hand, this company uses new tactics to find out what the customer really want and feel and chooses marketing techniques and tactics based on their findings.

Which one is more likely to become big and successful?

You know the answer.

Here are some of the different ways businesses have used Neuromarketing:

1. Frito-Lay:

Frito-Lay, one the leading companies in snacks, used NeuroMarketing to restyle their design for their chip bags. They discovered that a design of matte bags with pictures of potatoes evoked a positive response. Their current one, shiny bags with pictures of chips, had evoked a negative response. They then proceeded to change their design, and the rest is history.

2. Paypal:

One of the leading companies in online paying, Paypal used NeuroMarketing to change their ad campaign completely. Ads that focused on speed and convenience triggered a higher response than what they currently had. Based on these results, Paypal changed their ads and again, the rest is history.

Examples taken from NeuroMarketing 101.

It works everywhere:

Here is an example from an unlikely place: begging.

Note: I chose this example only to show the applicability of NeuroMarketing everywhere and anywhere.

Patrick Renvoise and Christophe Morin, in their book NeuroMarketing, show a real world application of NeuroMarketing. Renvoise, going out for a meal, sees a homeless man with a sign, “Homeless. Please Help”. Instead of doing what many others would do (give a dollar or two), Renvoise decided to help the man a lot more than just that. He gave the man two dollars if he could change the message on his board. Also, if he was still there after Renvoise exited the restaurant, he would get 5 more dollars. The man heartily agreed, so Renvoise proceeded to change the message on his board.

After eating, Renvoise went back out to see that the man would not take the extra 5 dollars. In fact, he wanted Renvoise to take 10 dollars.

Why?

Because, he had gotten 60 dollars in the time that Renvoise spent inside.

How did this happen?

Renvoise simply changed the wording to:

1-C2H5prAo4CEwUNT9k7K9_Q“What if you were hungry?”

As people were going into a restaurant, they could easily resonate with him, and would be more inclined to give him money.

You can get the rest of this book here.

Neuromarketing allows us to do so much more with our businesses. It allows us to:

1. Gain Valuable Details About the Customer

Because of neuromarketing, businesses can find valuable information about their customers. For example, it allows us to find out that a customer’s purchasing decision happens only in two and a half seconds and 85 percent of the time, their brain is on autopilot. Also, in the absence of logic, emotions control them. Had we not used neuromarketing, we would not have found out this information.

2. Customize their Offerings

What if your business could tell what type of packaging works better? What if you could tell which design works better? Well, that’s one of the things that neuromarketing can do. It gives you an advantage over your competitors, an advantage that can be used greatly. Companies like Google and Frito-Lay have used neuromarketing successfully in the past, and their results speak for themselves. Neuromarketing had to have some sort of impact on what went to the public.

3. Stay Away From Marketing That Does Not Work

If your company is heavily focused on direct mail but not seeing results from there, there is no point in continuing to invest in that channel. It doesn’t make sense to put valuable resources that could be put to use in much better ways. NeuroMarketing forces marketing teams to get feedback on their campaigns from customers so they can eliminate everything that does not work.

About Sumukh Setty:

Sumukh is a budding author (First Book: What We Wish We Could Do At School). You can follow him on Twitter at @SumukhSetty.

Image courtesy of Hands Off My Pho

Why Business is Like an Adventure…

When people talk about a business, the word “adventure” doesn’t come up in general. Most likely, words like money, power, deals, win, loss etc. comes up. I am a big fan of adventure stories and I get to listen to business talk at home all the time. Thinking about the two items together, I see a clear connection between business and adventure in more ways than one. I admit, both seemed somewhat apart at first glance, but after a closer look, I could tell they were not. In this short article, I have picked three ways where you can see the connection clearly. Those three ways are purpose, teams and the journey.

Let’s look at the three ways in detail:

1. Purpose:

The first connection I saw between the two was that both have a similar purpose. Running a business has a clear purpose — from that first order to someday getting acquired, going IPO or becoming a huge private company. An adventure also has a purpose, as all adventures are mainly a quest to reach the group’s end goal. For example, climbing Mount Everest would be considered an adventure, a big one at it. Well, it’s simply a quest to reach the the top, isn’t it? If one thinks about it, business is also a quest to reach the team’s end goals.

2. Teams:

The second connection I saw was that both require strong teams comprised of people that can trust and complement each other. Everyone, no matter how smart they are, goes into business with a team of people. Forget about business, people go into much smaller things with teams as well. Going back to our adventure example of Mount Everest, no one can start on a such a quest alone. It requires a strong team effort to get to the top. One would be ridiculed if they tried to do it alone. It just isn’t humanly possible. The same applies to a business as well.

3. Journeys:

The last but not least of the connections I saw was that both journeys are filled with ups and downs. While starting out, or while expanding to new countries, a business is bound to experience some rough patches in its journey. An adventure will also have its ups and downs, as seen in the classic book The Count of Monte Cristo. In this book, Edmond experiences some rough patches, shown by him being unfairly put in jail and him losing the love of his life Roxanne. He also experiences some ups, however, when he finds the money and when he defeats those who jailed him. Journeys are the most fulfilling parts in both cases.

To summarize, I believe that a business is similar to an adventure because both of them share similar characteristics as outlined above. The mindset of viewing a business as an adventure could also help to make the journey more fulfilling as it need not be just about calculations and paperwork.

About Sumukh Setty:

Sumukh is a budding author (First Book: What We Wish We Could Do At School). You can follow him on Twitter at @SumukhSetty.

Image courtesy of REAL Life at NCCTK