I know that I am a broken record on this but given the approach many people are taking when it comes to their advertising, it’s clear that we still have some opportunities out there.
Purple has been running a new ad lately, or at least it’s new to me. They start with some bedroom talk to get your attention. Then they immediately begin building value in the science of Purple as it relates to delivering comfort and pressure relief. They are fun, easy to listen to, and even incorporate a call to action asking you to text them for more information. Yes, they hit you with a promotion at the end but it’s a small part of their message.
Contrast that to what we see out there with most retailers today. How much of the marketing message these days is product/price/promotion vs. building value with in-store experience or products? Who do you think is getting the best results and growing the fastest? Sleep Number just posted an 11% growth in revenue and their marketing message is all about building value in their products and the connection they have to living a better life. How many retailers do you know of running ahead 11%?
If you don’t believe that the products you sell can deliver better sleep, therefore a better quality of life, then start reading up on the subject. If you don’t believe that building value in what you do is better than de-valuing what you do by a focus on cutting the price, then do a deep dive on the companies enjoying the most growth in the category. And if you don’t have products worth talking about, then come see me in Vegas this next week at space C1595. I have something special for you to see. 🙂 People have money right now. Are YOU fishing with the right bait?