Business Models

Is there any feeling more heart-warming than that of settling down to watch one of your favourite Disney movies from childhood? There are two things that might feel even better: Watching a clever and entertaining remake of your favorite childhood classic, and making billions of dollars.

Disney is doing it right, having made over $2 billion off remakes in the first seven months of 2019 alone, with the three live-action remakes of Disney classics released this year. Dumbo grossed over $350 million since its March 2019 release.

May’s remake of Aladdin has grossed over $1 billion, and even features A-list actor Will Smith as the genie. Most recently, July’s The Lion King (a remake of the 1994 classic film) has already grossed a whopping $1 billion in less than 3 weeks.

Did you know that Disney actually broke a world record this year, with their colossal box office sales? Before we get to that, Let’s talk in general terms for a minute.

In general, very few films will ever earn $1 billion at the box office, and yet Disney has already done it four times in 2019 alone. That’s right: The Lion King is Disney’s fourth billion-dollar film this year.

Other Disney films that have grossed $1 billion at the box office this year include Avengers: Endgame, Captain Marvel and Disney’s live action remake of Aladdin.

The impressive sales from Disney movie remakes this year is not a fluke. Disney has been thriving on this business strategy of nostalgia marketing for several years now. 2010’s Alice in Wonderland, 2016’s The Jungle Book and 2017’s Beauty and the Beast each earned over $1 billion.

Remember what I said earlier, about how rare it is for any movie to cross that $1 billion mark? It really makes you wonder what Disney’s secret formula is.

In less than a decade, Disney has amassed more than $7 billion in revenue from its remakes of classic Disney movies. Click To Tweet

If you include Disney’s other productions, such as their film adaptations of childhood comics, then Disney has actually amassed over $7 billion at the box office this year alone. It isn’t just the box office where Disney scores, though.

Revenue also streams in from cross-promotion with other brands and through related Disney products such as toys, food, and clothing with trademarked images of popular Disney characters.

Selling a Feeling

Let me ask you something: What do you think the secret to Disney’s success is? You probably already know that successful marketing involves selling a feeling. Lately, it seems like selling the feeling of nostalgia is the path to success. This is what’s known as nostalgia marketing, and believe me, it works.

So, what do products that evoke emotion and nostalgia (such as a remake of a beloved childhood classic) actually accomplish?

These products produce gratifying emotional experiences that drive customer loyalty, positive perceptions of the brand, and lots of purchases. 

Nostalgia marketing appeals to our wish to return to an easier, simpler time with less responsibilities and more acceptance. Disney has been capitalizing on this emotional desire by bringing audiences films that connect us to our past while providing a modern spin for novelty and entertainment value.

With Disney looking ahead to a full slate of remakes in the near future, let’s explore why nostalgia marketing is so lucrative, and how this strategy could be used in other industries, by other companies:

Disney: King of the Box Office

The sheer genius of Disney’s marketing strategy is proven in its record-breaking box office sales. The Lion King, released July 19th of this year, was the highest domestic opening for a Disney remake so far, beating out Disney’s past mega-successes like Beauty and the Beast.

Disney didn’t just beat itself – The Lion King was in fact the biggest July film opening of all time. It is no surprise that Disney plans to continue with this strategy of nostalgia marketing.

Remakes in the works include: a sequel to Maleficent coming out later this year, a reboot of Mulan, and then there’s Cruella which is based on the Disney classic 101 Dalmatians set for next year. Remakes of Pinocchio, The Little Mermaid, Peter Pan, and others are also in progress.

Disney is using a brilliant combination of nostalgic stories, celebrity actors and voice actors, and multi-level marketing to soar to the top of the box office.

The strategy of reviving classics works by creating an ongoing relationship of customer loyalty through nostalgia is working.

Audiences want to share these classic and re-made films with others, and re-live these cherished stories and characters through the modern remakes as well as through products and experiences like Disneyland.

Movie remakes pull at the heartstrings of many.

For example, there are Gen X parents who grew up watching the classic versions of these films. Parents will want to bring their children to see the remake, to enjoy a shared experience and show their children the stories they loved as a child.

Millennials, on the other hand, still remember the childhood classics fondly, and they get to re-live it when Disney releases a remake, which is exciting for them.

Some millennials not only watched the original version of the films over and over again as children, but even dressed up as their favorite Disney characters for Halloween, whether they dressed up as Aladdin or Princess Jasmine from Aladdin or Belle from Beauty and the Beast. It doesn’t get much more nostalgic than that.

For younger viewers, these remakes could be their first exposure to the brand and story, and the nostalgic aspect may be lost on them, but they can still be aware of the hype of memory and sentimentality from those who do remember the originals.

In this way, remakes can appeal to multiple generations and be a shared collective experience within families and society.

The key to Disney’s use of nostalgia marketing is that they are doing more than simply repackaging the original movie.

They are creating a modern and engaging new experience with the incredible digital animation technology available today.

And because a little Beyonce makes everything better, Disney’s use of high-profile celebrity actors and voice actors is adding to the hype and excitement.

Sean Bailey, co-President of Disney, told Vulture magazine in 2017 “Maybe if there’s a way to reconnect with that affinity for what those characters mean to people in a way that gets the best talent and uses the best technology, that could become something really exciting. It feels very Disney, playing to the competitive advantages of this label.”

There is no doubt that Disney’s approach is working: the 11 remakes that they have made since 2010 have grossed over 7 billion dollars.

Who Loves Remakes, and Does Anyone Hate Them?

We can imagine that Disney is more than pleased with their profits, but how is the public responding to this slate of remakes? The answer is mixed, because where there is love and excitement, there are always haters as well. Given the box office successes, it is obvious that huge numbers of the population are eager to fork over their hard-earned dollars to see these new reboots.

The movie industry isn’t what it used to be, with the increasing cost of movie tickets and the competition from Netflix and other streaming services, but people seem to be keen on seeing Disney movie remakes in theatres.

Clearly the ticket sales speak to a great deal of public enthusiasm, but why? For many, there is a thrill in getting to see an updated version of a classic, re-imagined with celebrities they know and love as well as eye-popping 3D animation.

So, what are the haters saying?

We can’t acknowledge the enthusiasm without acknowledging the hate, since every brand will have its haters. In Disney’s case, some people are more skeptical about the trend of remakes, seeing it as a cynical ploy by Disney to make easy money by rehashing tested and true stories rather than taking the risk of coming up with new content.

One fan writes about The Lion King remake, “the rhythms of African drums were drowned out by the sound of Disney cashing checks” and later said they were left feeling used for their fandom.

Much of the fan backlash centers around this sense that Disney is being “lazy” and that remakes are just a cash grab. Some disappointed fans on Reddit have complained, ”the lack of new, original ideas is frightening”.

Others have defended Disney, or at least pointed out that the trend of remakes in not surprising, as ”Disney has always been about adapting, not making original content.

This is just them doing what they always have done.” Another Reddit user points out how many classic Disney films like Alice in Wonderland were not original to begin with, and were adaptations of old legends and folktales.

In other words: modernizing, repurposing and enhancing old stories is nothing new for Disney, and it’s indisputable that this strategy works.

Many of Disney’s ‘haters’ still did fork over their money to see the remake simply out of curiosity – and therefore added to Disney’s profits. Go figure.

The Role of Emotion in Your Purchasing Decisions

Let’s talk about emotion, and the role it plays in your decision to actually make a purchase. When you make a decision to buy a product, or to buy a ticket to see a film in theatres, what do you think influences your decision-making process?

Many of us see ourselves as being rational actors, making our choices from a thoughtful, calculated place. It may come as some surprise then, that according to a recent study by neuroscientist Antonion Damasio, approximately 85 percent of our decisions are driven by emotion.

If you were to look back at the purchasing decisions you made this week, in hindsight you might realize the emotional forces that were unconsciously at work. You might even recognize exactly which emotions were at play when you were making certain purchases.

If 85 percent of our decisions are driven by emotion, then it makes perfect sense why Disney’s strategy of nostalgia marketing works. Click To Tweet

This statistic from Damasio shows us something very important: In order for marketing to be persuasive, it will require an emotional trigger.

In light of this, successful marketers in any business must know how to tap into the emotional states of their target customers, because pressing a prospect’s emotional buttons could result in a sale.

For a customer to be willing to purchase a product, spend a higher price on a different product, or purchase it repeatedly and become a loyal customer, it is essential to build an emotional connection to the product or brand.

According to a 2016 study from Ju, I., Kim, J., Chang, M. J., & Bluck, S. entitled Nostalgic marketing, perceived self-continuity, and consumer decisions, experiential marketing uses atmosphere and associated emotions to sell a product, rather than just relying on the material or quantifiable properties of the product itself.

While emotional in general is the primary driver in purchasing decisions, one emotion in particular has come to attention as a marketing powerhouse: nostalgia.

Nostalgia: A Powerful Emotional Driver in Today’s Marketplace

Have you ever noticed that some of your favourite songs – the ones that evoke the most emotion when you hear them – happen to be the songs you loved in your teens or early 20s, rather than your latest modern favorites? Despite having perhaps discovered “better” music since adolescence, for some of us nothing beats how we feel when we hear a classic hit from the ’90s.

This emotional response makes sense, based on the research into nostalgia from Psychologist Petr Janata, who in an interview with Slate, stated that our musical preferences are “consolidated into the especially emotional memories from our formative years.”

Our favourites and tastes are formed as a teenager and young adult, so products that harken back to that time of life are most likely to create a positive emotional state and draw us towards the brand.

For millennials who grew up in the 1990s and early 2000s, any product or entertainment that reminds them of that era will evoke nostalgia and positive feelings.

This explains why Disney films like The Lion King, Aladdin, and The Jungle Book (all of which were originally released in the mid-1990s) will appeal to millenials and younger Gen-Xers as remakes today.

If you remember watching these Disney classics as a child, then even just seeing the trailer of the remake might bring you back to a Friday night when your parents let you eat pizza in your pajamas and watch The Lion King with your friends. This is how nostalgia marketing works.

Nostalgia marketing aims to remind you of your youth, a simpler time, and it stirs up the longing for the feelings you associate with that time: Safety, belonging, connection, hope and joy.

Is it any wonder why these nostalgic Disney films and products are so enticing?

You might still be wondering exactly how nostalgia works so effectively as a marketing strategy. An increasing amount of research has been done on this exact question.

Nostalgic products bring up a sense of what Hartmann and Brunk’s research from 2019 Nostalgia marketing and (re-)enchantment refer to as “a sense of enchantment” meaning exciting, magical feelings that can be irresistible to consumers.

Feelings of nostalgia arise from sounds, smells, sights, and tastes associated with past times.

Nostalgic marketing directs people to products that can transport them back in time. It’s this alluring sense of being sent back to an easier time or returning home that holds such power.

Part of the power of nostalgia is that it contributes to our sense of personal continuity, a positive feeling that our self-identity is still connected to our past. When we see a film or buy a product that reminds us of our childhood, we feel this positive continuation of a sense of self and identity.

The 2016 study from Ju, I., Kim, J., Chang, M. J., & Bluck, S. entitled Nostalgic marketing, perceived self-continuity, and consumer decisions showed that advertisements appealing to a nostalgic past “led to more favorable ratings of brand attitude and greater intent to purchase the product” – results which were seen regardless of the type of product.

Have you ever wondered why seeing or buying something that evokes nostalgia makes you feel better, or why you feel warm and fuzzy inside?

When feeling lonely and disconnected, nostalgia-inducing products and experiences can counteract feelings of loneliness and disconnection, by linking us to a time and experience that we know is enjoyed by others and was also enjoyed… Click To Tweet

A retro product or a remake of a childhood classic film can give us a hit of this sense of belonging, peace, and joy.

According to nostalgia expert Dr. Wijnand van Tilburg, nostalgia marketing works for  “people who lack in the moment a sense of belonging, or feel a bit meaningless.”

Nostalgia marketing may be especially effective for millenials, many of whom are feeling disconnected, anxious, and long for a sense of comfort and belonging.

Products that link us to our positive memories inspire stronger emotions, which as we’ve learned drive our buying decisions.

We often look back on the past more positively, and those childhood memories can distract us from real-life stressors by bringing about a sense of comfort, peace and security when we are anxious or uncertain about the future, as well as an escape from feeling lost or stressed in the present.

Benoit Wiesser, the Chief Strategy Officer for Ogilvy, was quoted in the Business Times explaining that nostalgia works by “tapping into a tension that people feel, and giving them a slice of the past to soothe them.” 

Not Just Disney: The Wave of Nostalgia and Retro Trends in Today’s Entertainment World

How do we explain the ongoing success of Friends or that it’s still one of the most popular shows streamed on Netflix even amongst its modern-day competitors? Or, how about the level of interest in TV shows like Stranger Things set in the ’80s and ’90s? Throwback entertainment that is nostalgic for Millenials and Gen X-ers is everywhere we look.

Disney is not the only company capitalizing on the power of positive past memories or nostalgic associations.

Many other film remakes have been wildly profitable lately, including Blade Runner and Jurassic Park, not to mention the ultra-successful empire of comic book film adaptations and reboots such as Spiderman and Batman. Of the top ten grossing films in 2016, eight of them were reboots or connected to a pre-existing franchise.

Other reboots of TV shows such as 90210 and Twin Peaks have been very successful as well.

Beyond the screen, nostalgia also works powerfully in music. Bands such as Backstreet Boys and The Smashing Pumpkins have had majorly successful reunion tours that sell out and excite fans who grew up listening to their music.

What Other Industries Capitalize On Nostalgia Marketing, Besides Entertainment?

Entertainment isn’t the only industry where a throwback goes a long way. Pepsi and Coca-Cola have experimented with re-creating their old designs and bottles, and these brands have certainly found that it pays to throw it back to old school designs.

Ask yourself this: When you suddenly saw the vintage-looking glass bottles of Coca-Cola in stores, did that evoke a sense of nostalgia or a desire to buy coke?

Pokemon Go capitalized on the nostalgia of Millennials who grew up playing Pokemon. Nintendo has relaunched and sold out a reboot of its 1980s classic console. Whatever industry you’re in, nostalgia marketing could probably work for you, too.

Schiemer and Carlson’s 2017 research in Nostalgia, irony and collectivity in late-modern culture: The ritual watching of The Disney Christmas Show in Scandinavia found that there has also been a resurgence in retro culture, with renewed interest in products like vinyl records, polaroid cameras, and the cars and fashion of bygone eras.

For Boomers and Gen X-ers these retro products could be personal nostalgia, as they have individual memories associated with them. For Millenials, the interest may stem from what is called historical nostalgia: a curiosity about an era they weren’t a part of, or a longing to be transported back to a different time.

It could also be a form of nostalgia that is more playful or ironic, where we find humour in the objects and fashions of the past. (Schiermer & Carlsen, 2017.)

How Can Your Business Take Advantage of the Power of Nostalgia?

Now that you know how nostalgia marketing works and how well it is working for Disney, the next question is: how can the rest of us capitalize on this phenomenon?

The lesson of Disney and some of the fan backlash demonstrates the importance of being genuine in your approach, or risk the perception of using nostalgia as a cash grab or out of creative laziness.

If you are attempting to drive sales using nostalgia, you should be careful with the tone you strike in using it. If it is overdone, then audiences and consumers will see through it and be turned off.

The key to using nostalgia is taking what is beloved from the past and subtly finding a way to harness those positive memories, while providing a product or experience that is still inventive and rewarding. Click To Tweet

Success comes not just from invoking any material or object from the past. It is essential to understand your demographic – what were they watching, playing with, listening to, and wearing in their formative years when preferences were developed?

There are no doubt many more products from the past few decades that are untapped nostalgic potential for creative marketers.

Savvy marketers will know how to use the ThrowBack Thursday and FlashBack Friday (#TBT and #FBF) hashtags on social media to promote their retro or nostalgic products, and tap into online trends.

Designs, logos, and slogans from the past can be used to stir up the ‘good old days’ memories of consumers. In general, brand logos with a retro design could generate positive emotions on their own, without even seeing what the product is yet.

Summary

Disney broke a world record in box office sales this year, and it’s largely to do with its nostalgia marketing strategy, involving the remakes of classic Disney movies.

The decision to buy something is largely driven by emotion, and nostalgia is an example of a positive emotion that influences purchasing decisions.

It’s really simple, isn’t it? We want to buy what we think will make us comfortable and happy.

Brands that can draw us in with nostalgia result in us connecting their products with our past memories and our more positive sense of self.

Brands like Disney that have mastered the strategy of nostalgia marketing are reaping the rewards in sales and brand loyalty.

Often when we think of business, we think of brand new ideas. The research into and demonstrated the success of nostalgia marketing shows us that with some creativity and strategy, past sentiments can be great for business.

Photo credits: rvlsoft / Shutterstock.com – Anton_Ivanov / Shutterstock.com and Paolo Bona / Shutterstock.com

Isn’t it true that someone who has bought a smartphone will be more skeptical and demanding than someone who has never owned one before?

Your experienced cell phone owner will have a lot more questions and objections than your first time phone owner. So how can you as an entrepreneur, a business owner, communicate a marketing message that speaks to your customer, depending on their experience level with a type of product?

This is the biggest challenge that most entrepreneurs face when communicating a message: they don’t understand the five stages of market sophistication. They communicate exactly the same way with their customers regardless if it’s stage one or stage five. So what do I mean by the five stages?

These are a way of describing the amount of experience a customer has with a product, such as a cellphone. Once you see the distinction in the five levels, you see why the typical marketing message – one-size fits all message for everyone – doesn’t work.

Let’s take a look at the five stages of market sophistication and how applying these levels will distinguish you from your competition.

Watch this video about the five stages of market sophistication.

Eugene Schwartz: How To Make Yourself Number One

One of the greatest copywriters back then, Eugene Schwartz, came up with the market sophistication concept. He wrote a book called Breakthrough Advertising, which I would say is one of my top three marketing books that I have in my library. It’s out of print, but I think I brought mine for $500 on Amazon.

Here’s the key to Schwartz’s concept. You must market your product or service depending on what stage of sophistication your market is currently in.

By “stage of sophistication,” I’m talking about how long that type of product or service has been around, how many competitors you have, and whether your customers are jaded.

It’s important to understand market sophistication because you always want to aim to be number one or number two in the marketplace. It doesn’t mean you have to be the highest quality. Instead, perception is more important than reality. What does that mean?

You’ll notice that in any category, any industry, the top one or two people or companies make the most money. In fact, the top 10% of any industry make 90% of the money. And 90% of the business owners make 10% of the money in any industry.

It doesn’t matter if what you sell is a product or service, but you should aim to be number one or number two, even if you have to create your own category. For example, instead of calling yourself the “number one realtor in the universe” or the “number one realtor in Vancouver,” narrow down the category and become “the number one expert in this neighborhood.”

The Advantage Of Being First

Being first has a huge advantage. Have you seen those cola blindfolded taste tests for Coca Cola versus Pepsi? You’re supposed to guess which drink sample tastes better. Pepsi is always saying, “Seven out of 10 say our cola tastes better than Coca Cola.”

However, it doesn’t matter. Pepsi will never beat Coca Cola because Coca Cola was on the market first. When you think of cola, you think of Coke, you don’t think of Pepsi.

Because they knew the competition was too fierce, Red Bull decided not to compete with Coca Cola. They went for the first market advantage in the new energy drink market, and they promoted themselves in that category.

Red Bull started with the saying, “Red Bull gives you wings.” Then they stopped focusing on this message when more energy drinks came on the market. Now, they sponsor extreme sports events. The brand has evolved and they have more attitude.

They’ve evolved through the stages of marketing sophistication, which began at stage one when they simply announced themselves to the marketplace.

Stage 1: Announcing Your Arrival To the Marketplace

At the first stage, you are simply saying, “Hello market. I’m here!” You’re very simple and very direct with your message.

It’s similar to saying, “Hey, I’m a mortgage broker. I’m a real estate agent. I am a grand master. I’m an accountant.”

At stage one, the marketplace hasn’t seen this type of product or service before. A simple, short announcement will suffice. And since you have very little competition, your innovation is enough to capture the market.

For example, a simple, direct message can be, “Hello, my business is _____. My market is_____. I do this_____. So buy from me.”

An example of stage one advertising is a full page ad in a print publication for a weight loss supplement. The message is basically take this pill and you lose weight. They say, “I’ve got this pill. Take it and you lose weight.” Very simple and direct.

Another example is a computer ad from many years ago. It said, “Personal computer for under $200.” It’s a simple and direct message. It’s not an iPad but back then, a computer for $200 was already a big selling feature.

Then, as the market evolves, your marketing needs to evolve too.

Stage 2: Features, Benefits And Claims

At stage two, you’re getting more competition, so your direct claim isn’t enough. You need to outbid your competition with features. Now you’ve got to communicate with the marketplace why your product or service is better.

You need to take your original claims and your promise and enlarge them. You need to explain exactly what it is that makes you better.

Here’s the weight loss example again. It says, “Take this pill and you lose weight in seven days or less.” You’re more specific about the timeframe. It’s not enough to just say the customer will lose weight.

Here’s an example from Apple. They are saying every child should have an apple after school. They also say, the Apple computer “is easy to set up and learn, and it comes complete with almost everything you need to start computing in one box including a free easy to use course.”

It also has 128K of internal memory and built-in hard drive. Back then, it was a huge deal to have that much memory. That made the Apple as powerful as the average office computer!

At stage two, the descriptions of your product or service are longer, the market is more sophisticated, and you need to explain more than why you’re better than the competition.

Stage 3: How Does It Work?

At this stage, you’re telling the marketplace more than what you have and why you’re better than the others. You’re explaining how your product or service works.

Consumers are getting more skeptical by stage three. They’ve become more jaded from exaggerated claims made by the growing group of your competitors, selling pretty much the same thing as you.

To get ahead of the competition, you need to get a new mechanism to make the old promise work. What does that mean?

It means you need to reframe it. You’re saying, “Hey, here’s what we do, here’s how we’re different.” Then you’re adding one piece of information that the customer might not know about what you do, and you tie it back to your claim.

Here’s an example. “Take this pill that blocks the absorption of fat in your intestines, and you lose weight in seven days or less.” You’re now backing up the claim with a mechanism, not just, “Here’s the benefit, but let me tell you what makes this pill different because this pill blocks the absorption of fat in your intestines. That’s what makes this different from the other pills.”

Brands that enter into a saturated market need to already need be at this level. To get to stage four, you must focus on defeating the competition.

Stage 4: Crush Your Competition

At this stage, it gets more competitive. There are so many choices out there with people doing similar things as you. So now not only do you have to promise more benefits than your competitor, you need yet another mechanism.

These days, the internet is making it easier for entrepreneurs to start their business. But with market saturation and massive competition, it’s much harder to gain visibility. Some experienced entrepreneurs are charging barely anything just to get a customer.

The barrier of entry is also easier to start but it’s more difficult and takes more skill and money to succeed. That means the strong will survive and the weak will fade away.

I like that competitive environment. To stand out, a new mechanism must be created that is believable and significant by your market and you must promise more benefits. At this point, your prospects have heard it all and competitors start dropping out like flies.

Let’s return to the computer example. At the early stages, when personal computers were getting more competitive, Steve Jobs asked, “What makes it tick and talk?” That was the new mechanism. A computer that freaking talks.

Only one thing was needed to differentiate their computer from everybody else, and that one thing put them in the headlines.

At stage four, they had the Apple versus PC ads. Apple was for the cool guys. They were the cool bunch. At the time, they claimed, “Last year there were more than 114,000 viruses for PCs not for Macs.” It was a direct claim to say PC sucked and they were better.

By stage four, the competition is getting fierce. If you want to distinguish yourself from your competition at this point, then you must evolve to stage five.

Stage 5: Become Iconic

You don’t want to be just one in the marketplace. You want to be the one.

The marketplace place knows so much about the industry, they won’t buy into whatever you have to claim or hard sell anymore. They’re just so skeptical. This is where you sell on how your brand services only specific types of people and you encourage them to buy into the exclusivity.

You’ve heard the question before: are you a Mac person or a PC person? It’s usually half and half when you survey a random crowd of people. Both products serve a certain segment of the marketplace.

Macs for artists and designers and cool people. PCs for geeks and nerds and gamers and corporate. Microsoft office for businesses. As you can see, it’s two very distinct markets.

You’ve got to be clear which market you’re going after. There’s a shift from features to identifying who your customer is, who you serve, and who your product is for.

Remember when Steve Jobs introduced the first iPhone? “It’s an iPod, it’s a phone, it has internet.” People were freaked out. They didn’t realize you could have all that in one device.

That’s iconic. The product is totally different and made history.

Here’s another example using diet pills. “Super powerful diet pills make comeback. They’re flying off the shelf, but they’re not for everyone.” The exclusivity makes people wonder who they are for. They also want to know why they are flying off the shelves and why the pills are selling so well.

Final Thoughts On The Five Stages Of Market Sophistication

In the marketplace, there is a tremendous advantage to being first. You don’t have as much competition, it’s easier to be number one, and your customers are more easily wowed by what you have to show them.

As more competition enters the market with similar products and services, you will need to talk about your features and benefits. It’s not enough to say that you exist. When an increase in similar products and services enter the marketplace, your customers will become more skeptical.

At that stage, you must explain how your product works. To defeat your competition and stand out from them, you must introduce a new mechanism. How is your product or service different from the rest? And finally, at stage five, you become iconic. Customers buy your product or service for the exclusivity.

Which ad do you consider iconic? Comment below.

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