EP39 Building A Brand Against The Odds in 2022 with Michael R Solomon
February 1, 2022
In this week's episode, I (Chris Cownden) gets to speak with Michael Solomon, and expert in all things marketing and consumer behaviour. We talk about how to build a brand, how to increase consumer engagement, some basic marketing principles that work better for small business owners than Fortune 500 companies, how to create brand ambassadors, his new book, his new course and so much more. You're in for a treat!
Michael Solomon is a highly sought-after Consumer Behaviour, Customer Trends and Marketing media commentator. He regularly appears on television shows including The Today Show, Good Morning America and CNN to comment on consumer issues, and he is frequently quoted in major media outlets such as The New York Times, USA Today, The Wall Street Journal, AdWeek, Newsweek and Time. He is featured in numerous podcasts and webinars for audiences around the world. Michael is the author of many bestselling textbooks and trade books on topics including consumer behaviour, marketing, advertising, retailing and social media. Some of his clients are Intel, BMW, Calvin Klein, LinkedIn, Levi's, Ebay, Ford, UGG and so on. We all know those brands!
In this week's episode, Michael talks about how to drive consumer engagement for your brand, how to understand the next generation of consumers, go over the basic principles of marketing and their relevance for building a brand in 2022 and more..
TL; DR:
1. Evaluate your customers in terms of lifetime cash value (LCV) rather than a more myopic focus on the short-term
2. Ask your customers how you're doing
3. Enlist some of your best customers to help you co-create your business.
4. Sell the benefits, not the features.
5. Encourage everyone to think about their brand as a story.
6. Get a deeper understanding of why your customers might consume your brand and what it means to them.
7. Focus on building social proof to drive customer engagement. (Attend events, speak to people of authority in your audience, get awards, use referrals)
Extra Resources
In this week's episode, Michael talks about how to drive consumer engagement for your brand, how to understand the next generation of consumers, go over the basic principles of marketing and their relevance for building a brand in 2022 and more..
TL; DR:
1. Evaluate your customers in terms of lifetime cash value (LCV) rather than a more myopic focus on the short-term
2. Ask your customers how you're doing
3. Enlist some of your best customers to help you co-create your business.
4. Sell the benefits, not the features.
5. Encourage everyone to think about their brand as a story.
6. Get a deeper understanding of why your customers might consume your brand and what it means to them.
7. Focus on building social proof to drive customer engagement. (Attend events, speak to people of authority in your audience, get awards, use referrals)
Extra Resources
- Get "The New Chameleons: How to Connect With Consumers Who Defy Categorization" - NEW BOOK
- Learn How To "Engage Your Bored Customers Into Brand Fanatics" - NEW COURSE
"We don't buy things because of what they do, we buy them because of what they mean."