I am occasionally asked which metric I consider best for tracking consumers. There’s no hesitation with my answer. It’s new home starts. Let me explain why. First, what is it? The metric of new home starts is exactly what it sounds like—it’s the number of privately-owned homes that began construction in a given period of time. (I prefer monthly.)
Brands that lead today do three things exceptionally well. They create an emotional advantage that customers cannot get elsewhere. They establish a distinctive advantage that customers recognize as meaningfully different. They build a connective advantage that keeps the brand relevant over time. These are not communications outcomes. They are strategic decisions.
Not to beat this Cracker Barrel fiasco into the ground anymore, but there is a problem when brand marketers use age as a definer of relevant values. When Cracker Barrel and its crack consultants decided that modernizing the Cracker Barrel brand meant jettisoning the totems of Cracker Barrel’s provenance, those involved made a mistake. It is possible to be old and new at the same time.
From all my years in research and consulting, I think I’ve learned a thing or two about marketing worth sharing. Enduring fundamentals, mostly yet often overlooked. So, this year, I’m sharing some for your consideration. I hope they’re helpful. This week’s thought: Statistical significance is a perilous safeguard in marketing.
From all my years in research and consulting, I think I’ve learned a thing or two about marketing worth sharing. Enduring fundamentals, mostly yet often overlooked. So, this year, I’m sharing some for your consideration. I hope they’re helpful. This week’s thought: It’s all about targeting, not segmentation.
