THE ART OF GIVING

Tweet

Once again it’s that time of the year when the world gets into a festive mood. It’s going to be Christmas soon and marketers are already, ready with their plans and their campaigns. Back in India, Dussehra just got over, but festivities have only just begun, with the grand-dad of all festivals – “Diwali”, just around the corner. It’s that time of the year when everyone goes on a buying spree. Consumption reigns supreme this time.

However at the heart of all this frantic activity lies a simple thought – “the power of giving”. Yes gift giving is central to Diwali. It’s a way of paying homage to the deity of wealth – Goddess Lakshmi. No wonder Diwali is the largest gift giving and shopping festival of India. Gifts symbolise one’s prayers to the almighty for the prosperity and well being of the recipient. “Giving” is at the heart of all festivities, and “giving” should also be at the heart of all marketing activities.

HOW TO MAKE YOUR FIRST MILLION!

Tweet

There was something very interesting that happened at Christie’s (the auction house) in London on September 29, 2010. The auction was very unique. The room was packed and beyond – people had even formed queues outside Christie’s; the heightened interest made the authorities shift the auctioning to a bigger room. People were bidding not just inside the room, many were on telephone, many more were registered online, from countries all over the world. From New York to Dubai, nobody wanted to miss the action… It was the auction of 300 items from Lehman Brothers’ London headquarters – paintings, miniature battleships, et al. It’s interesting to note that while not many were interested in the sale of Lehman’s European business (which was bought by a Japanese company Nomura), this auction was evidently different – and the most interesting bid was for a large metal nameplate that used to adorn Lehman’s London headquarters. An anonymous bidder bought the sign over telephone at an exorbitant price of £42,050. It was symbolic, for these letters symbolised the beginning of something new. The collapse of Lehman Brothers had ignited the global financial crisis, which changed the world forever.

Incidentally, Lehman Brothers’ mission statement was another sign that fetched record prices! It read: “We are one firm defined by our unwavering commitment to our clients, our shareholders and each other”!

LEAD LIKE A CRAZY ROCK STAR

Tweet

“I have two instincts, I want to have fun, and I want to change the world. As a rock star I have a chance to do both,” were the words of Bono, the lead singer of the Irish rock band U2. The man is not just great at “rock-n-roll” but is also today one of the most influential global leaders. The man today symbolises ‘poverty alleviation’. Not surprising that when the famous author Jeffrey Sachs released his book “The End of Poverty”, it was Bono who was asked to write the Foreword. The man is not just a great singer but also a great and influential world leader. Apart from receiving multiple nominations for the Nobel Peace Prize, he has featured on TIME magazine as the “Person of the Year”. His campaign “ONE” boasts of over 2.4 million supporters. From the time he sang his hit single in 1984, Do they know its Christmas, to raising money for Ethiopian famine relief, the man and his band have come a long way. The man is what rock star leadership is all about.

LEADERS OF ROCK-N-ROLL

To the world, they would be remembered as great singers who loved to rock-n-roll. But look deep and you realise that each of them taught us some very important principles of leadership. They taught us that those people, no matter what their background, who remain true to themselves and fight for what they believe in, can change the world.

DON’T KNOW… DON’T CARE

Tweet

He doesn’t care about your claims of “good” quality. He doesn’t care if you are number one. He buys only that product which makes him feel happy and which he thinks is right. The “market” is a totally different place today, than it was earlier. There is a new generation of consumers that thrives on products that didn’t even exist as recently as five years back. Technology has created new markets (cell phones, smart phones, iPhones, Twitter, Facebook) and a new breed of consumers that is very difficult to please.

Today’s consumer is even more demanding. He wants greater value from products and services, greater transparency, greater corporate responsibility towards the environment & the less fortunate. According to a survey by Landor Associates, 50% of the 18-25 year olds said they are ready to take a pay cut to work for a socially responsible company. Add to this, the global economic downturn which not just affected many people’s wallets but also their outlook, and the way they are making choices in their lives. As Sheena S. Iyengar in her book The Art of Choosing says “…we use choice as a powerful tool to define ourselves and mould our lives.” If you want your brand to be “valued”, you need to make sure it is the one that this demanding consumer chooses which helps him define his life. Just hoping your brand will sell because it is of good quality, is correctly priced et al, won’t work. The “Don’t Know, Don’t Care” (DKDC) generation wants more. Nissan is rolling out a new ad campaign (dubbed “Innovation for All”), which showcases not price, but innovative features of its cars like keyless entry, air purifiers and smartphone apps, to appeal to this new consumer.