When enough is enough – 8 steps for getting out of the start-up rut

I’ve never had the urge to celebrate successes. For me those mark the end of a road, rather than the beginning of another. I enjoy them, but I believe tooting my own horn about it is redundant. Failures on the other hand are another story. I love them, and as of lately, they seem to love me back.

In my modest experience both as a human being and as a struggling consultant, there is no balance between good and bad things that happen to you on daily basis. It’s either raining frogs, or every problem you have miraculously sorts itself out in a blink of an eye. And I wouldn’t have it any other way, because balance is boring.

Balance = comfort zone = no growth (both personal & professional)

We all welcome the good times, but how we get back on the horse after a fall is what truly defines our capabilities and motivations.  When it comes to business, here’s some of my tips for getting out of the rut:

1. Never doubt yourself – constantly repeat to yourself that you believe in your skills and that you are 110% committed to achieving your goal. Sometimes it’s harder, because people will try to put you down, but you can’t let a random individual define you.
2. Make sure you find the right people along the way – support systems are crucial when you are starting your own thing. Even though you always need an objective opinion, sometimes the ‘mommy’ appraisal gives you the extra push you need to keep going.
3. Select your partners very VERY carefully – think you can make it on your own? Great! If not, make sure you take the time to find the right partner. And if you find yourself in a scenario where you thought you had one, but things go south, don’t be afraid to let go. It’s just business. Look up and move forward.
4. Dream big, but scale with a realistic pace – dreams are sometimes what truly keeps us in the race. However, don’t make the mistake of having 20 great ideas that just rot around in your brain. Pick 1 or 2 and focus all your energy in realizing them. If that doesn’t pan out, at least you have a list of 18 more to try out.
5. Don’t be afraid to be yourself – a lot of people start doing their own thing because they saw a model that works and think they can duplicate it at their local market. Do something you are truly passionate about and the model will build itself around that.
6. Network, network, network – worn out, but can’t emphasize it enough. You can’t expand your contacts, potential clients, etc. if you’re not out there mingling. Put your best smile forward and see what happens. I guarantee you’ll be surprised.
7. Have your priorities straight – especially when dealing with clients, you have to have a defined working model or a plan of action, because without one, you end up losing your focus of the big picture and end up wasting time solving irrelevant minor details.
8. Play a little make-believe – I am young enough as it is, so when I am trying to book a new client, there is no room for doubt. I make sure the client knows I mean business and if I have to exaggerate a bit to grab their attention, so be it. Earn your respect.

And if all of the above don’t work, sometimes I just look at myself in the mirror and say enough is enough to snap myself out of it, only to come out stronger. That’s why I’d take raining frogs over unicorns and rainbows any day!

xo,

Teddy T

Is organic chocolate the new hype in hedonic eating?

I’ve recently had the pleasure of working for the most delicious brand portfolio, not only in the UK, but dare I say it – Europe. Green & Black’s is an organic and fair-trade chocolate that has been around for more than 20 years. Being the first organic and fair-trade product in the UK would most definitely guarantee the brand a phenomenal market share, right? Wrong!

See, Green & Black’s, among other organic ready-made products on the market, put all their money in advertising exactly what they are – organic. All that, under the assumption that the British consumer cares about eating healthier, better quality products. Although that may be true in the case of organic fresh produce, where people more easily associate their lettuce, tomatoes or carrots with the notion of ‘healthier food’, was that the case for organic chocolate? This is precisely why Green & Black’s hired me – to find what the British Consumer associates with the word ‘organic’ in the current economic environment (post-recession) and how the brand can use that knowledge to re-position itself to a younger audience.

After shadowing company executives and senior-level managers for a while, I was ready to conduct my own research on the matter. I interviewed 19 individuals that fitted the narrow demographic and psychographic profile of the desired ‘new consumer’ and a very interesting picture started assembling. I will try to shortly paint it for you, as I do believe it accurately represents an idea of the modern organic consumer in the UK:

Demographic profile:

•  Mainly female, middle age, with children or a significant other. Reasoning: This individual is the decision maker in the household, especially when it comes to food-related products.
• Mid to high annual income and well educated (university and above). Reasoning: ‘Organic’ remains largely considered as a premium good and is often associated with higher than average pricing.

Psychographic Profile:

• Adventurous, likes to try out new things. Reasoning: ‘Organic’ is still seen as an ‘avant-garde’ food alternative, where one has to get out of their established purchasing routines in order to consider consuming.
• Is moderately susceptible to peer pressure. Reasoning: This consumer is willing to change their shopping habits if a friend recommends a product, but they have to personally believe that product will prove to be better than what they currently consume.

Now, all previously mentioned consumer profiling has to do with general organic purchases, where that consumer sees ‘organic’ as a healthier, free of chemicals food option, but often associated only to fresh produce. In order to unlock their potential regarding organic packaged food purchasing and specifically the brand I was representing, I had to dig a little deeper.  So I had to see how and why the average UK consumer eats chocolate. Previous conducted research, internal company documents, own findings and all that mambo jambo led to a ridiculously simple conclusion: People eat chocolate because it tastes good.  EUREKA! So where did the ‘organic’ part belong in that message?

Simple, yet genius. Women like to eat chocolate → they eat it, because it tastes good and it makes them feel good → they often justify buying chocolate, because they ‘deserve’ to treat themselves to it. Chocolate, therefore, is a purely hedonistic product and is meant to be enjoyed as such. However, after consuming it, there comes the guilt – why did I eat so much of it, this will make me fat, it’s unhealthy, etc. Let’s be honest, we’ve all been on that road. But if that chocolate is ‘organic’, that’s a different story. The post-consumption guilt is now eliminated.  Therefore, the reasoning is as follows: This is great-tasting chocolate, I deserve that chocolate + it’s organic, therefore it’s better for me and I should not feel guilty for buying and consuming it.

* part of Green & Black’s new 2013 ‘This is not a chocolate bar’ advertising campaign  focusing on taste attributes

Sounds almost devious of us marketers to formulate such a message, doesn’t it? However, people will continue to buy chocolate and continue to feel guilty about it afterwards. Why not help them get rid of that guilt and actually treat them to a great quality chocolate made with nothing but fresh, organic ingredients? By simply re-focusing on taste attributes, rather than organic attributes, Green & Black’s was able to speak to that hedonistic hunger in every consumer and to toot their own horn with superior tasting chocolate. And I should know! When my consultancy work was done with, they sent me a box full of that stuff. The little girl within me was overwhelmed with joy, and no, I don’t regret eating every single one of them!

Till next time,

xo

Teddy T

Self-branding – what happens when supply exceeds demand?

When looking for professional growth, be it a new job or a new opportunity, people tend to say it’s hard only if you don’t know what you want.  But what if you know exactly what you want and can’t seem to find anyone who’d give it to you?

In my generation (Gen Y), I’ve noticed a growing problem of great demand (from university graduates) and little real supply(from companies) when it comes to career advancement. Now, before all of you out there damn me as a pretentious snob, let me elaborate. Universities all over the world fill our conscience with the notion that we can be the best at what we pick if we work hard. They develop this false sense of security and self-achievement, just for our dreams to get crushed once we go out to the real world, a.k.a – the ‘job market’. To more eloquently explain my point, I’ll turn to my dear old friend – Marketing.

Think of yourself as a brand. You grow that brand over the years through developing various skills, creating a Unique Selling Point (USP), all done in an effort to increase your market share (your employability). You believe your product quality to be superior to that of other competitors on the market and your promotional efforts in line with the brand message, creating a 360 marketing strategy. Naturally, you can’t win every customer, so you pick a target market to focus your efforts in (the industry of your choice and the companies within it).  Once you launch your product to those consumers, you expect for them to immediately buy it off ‘the shelves’, I mean, you’ve put so much work into your market research, right? Wrong! Due to the over-supply on the market and a low brand switching barrier (to other professionals of your caliber), no one seems to want to ‘buy’ YOU. It’s as simple as that. But don’t give up just yet.

You need to re-position your brand to fit the market needs. That may mean that you might have to get a job that is not exactly what you want to do, but gives you the chance to shine and climb up the ladder to the desired career once you’re in the inside. Mark O’Toole from HB, a renowned US based Marketing & Advertising agency, talks about 11 reasons why he won’t hire YOU as a fresh graduate. The moral of his story is – get with the times or get off the market. Harsh, but true.

So yes, my personal advice is – keep refreshing and reshaping your brand, stay on top of the market trends and adapt towards your customers’ needs. I’m not saying to completely abandon your brand values, but flexibility is key in today’s world. Eventually, by doing so, you will be able to match supply and demand and establish yourself as the professional your university professors kept repeating you can become.

xo,

Teddy T

The ‘But it’s PINK!’ syndrome, or how in control are we of our purchases?

I’m an impressionable consumer AND a woman, so not a good combination to start with. And with the risk of offending any emancipated and self-respecting feminist out there, I will say – I am impressed by flashy things. Now, I don’t necessarily mean the materialist in me is struggling to break free, it’s more about the flashy, exciting, colorful marketing campaigns companies deploy to suck customers in. And sadly enough, they work brilliantly!

So how much of the decision-making process of a purchase is truly controlled by you – the consumer?

If I need a new computer, which is considered a high-engagement product, I would go online, possibly compare features of different brands and variations, rationally choose the best option, compare prices on the market and then off I am to get my new gadget! Now, plenty of you would do that by the click of a button, but I am an old-fashioned kinda gal, I want to see the product, get a feel for it, then buy it. So I get in my car and happily drive off into the sunset, with the tingling sensation of excitement for what is to come.

I arrive at the store, I immediately ask where I can find my desired model/brand and start walking towards the isle where it’s located. Now, that’s when all the trouble starts. I pass several overly polite staff members, trying to convince me to get a new fridge/ kitchen appliance/ phone, but I stand my ground. Then I pass the isle with the ‘50% OFF’ items… this is getting trickier… However, I hold my breath and keep stomping to my destination. I arrive at the isle with all PCs, tablets, etc. I can almost taste victory….and I see this beautifully designed laptop with a steel glow…and they have it in PINK!  That’s it, all my research went down the drain!

I did the creepy walk-by a couple of times, admiring it from distance. Then the rational little nerd in me, started convincing me I didn’t need THIS particular model, I could do just fine with a cheaper version. But it was too late, I was already dragging my feet towards the gadget, longing to touch it, to run my fingers through its slick metal cover.

All the cardboard promotional posters and demonstration videos on nearby screens didn’t help my case either. I was a gullible little fish, quick to get on the hook. It wasn’t until almost at the cashier, when I came to my senses and left the pink laptop behind, quickly running outside to catch some air and clear my head.

Am I proud of my behavior? – NO. Would have I gotten the laptop if I didn’t know better (Consumer Psychology being my true passion)? – probably. So truly, how much of the decision making process prior to a purchase can we control? When does emotion completely blind all previously established rational? And most importantly, can we learn not to give in to the marketing messages companies constantly throw in our faces?

Marketers all over the world know one simple rule – the consumer is an emotional creature. We might convince ourselves that we’ve made a rational decision, but there are so many factors that come at play when we buy, like peer pressure, store environment, interactions with friendly ‘advisers’, Point Of Sale (PoS) marketing materials and many…many more.

So next time you find yourself in a store, with the instant desire to purchase the first thing that pops in front of your eyes, remind yourself of all the enablers you are surrounded by. Think really hard – do you truly want to spend your money on this, or has one of us big, bad marketers got you, and excuse my French, by the balls?  Yeah, that’s what I though.

xo,

Teddy T