Welcome back to the Bend the Curve blog series on Techstars.com! We are excited to share with you the newest book for entrepreneurs, Bend the Curve, authored by Andrew Razeghi. (More about Andrew below.) In this handbook for entrepreneurs, Andrew has captured the brilliance and insights of over a dozen of our most sought-after mentors. Everyone from first-time entrepreneurs to seasoned veterans will find useful, practical advice from other founders that you can use on your journey.
Over the past few weeks, we have been releasing short excerpts from the book including stories of entrepreneur success and failure. Today, read about John Kenny of FCB, a Chicago ad agency. Check it out and come back next week for the final installment!
Bend the Curve
Chapter 6: Getting Customers to Care
“Many people say advertising is dead,” observes John Kenny. “But, storytelling is still alive and kicking. We’re living in a world where big data means we’re constantly bombarded with information; we’re over-targeted but underengaged. It’s all about getting people’s attention, and then harnessing that attention toward behavior change.”
Kenny heads up strategy at FCB, a leading ad agency in Chicago. FCB provides brand expertise and marketing campaigns for everyone from blue chip companies to the Fortune 500 to startups. Key to their success is the relentless focus on creating behavior change in customers.
In this chapter, we’ll talk about:
- The difference between getting customers’ attention vs. getting them to act
- How to get people to change behavior (and buy your products)
- Five proven techniques to encourage behavioral change
It’s All About Behavior Change
It’s one thing to get a customer’s attention. It’s another thing to get them to buy and yet another thing to keep coming back. Many customers are perfectly happy with the status quo (even though they may complain about it now and then) and habits are hard to break.
As Kenny advises, “Research tells us that 40% of our behavior every day is done by habit. Therefore, if you’re doing anything worthwhile with marketing, you’ve got to be working on trying to change people’s habits. If you can get them to change their habits in favor of your product or service, you’ve struck gold. The question is how do you get people to change behavior? How do you get customers to care?”
Among the possible tactics, Kenny suggests, “Short form video is and has always been one of the best way to motivate behavior change. We’ve seen it with the 30-second ad, and now we are seeing it with online videos that have sparked viral marketing campaigns. We see short form video as a persuasive technology, but that is not the only way to create behavior change. These principles can be incorporated into any of your marketing tactics. The more effective you are at acquiring attention and turning it into habit change, the more profitable you will be as a company.”
According to Kenny, sparking behavior change is the only way that you can sustain a return on your marketing activities.
But, you can’t just decide one day to create behavior change. It requires intentional effort, creativity, and a discipline to achieve the desired result. Beyond the creative use of media, Kenny outlines five core components that they focus on at FCB to drive behavior change in customers…
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About the Author
Andrew Razeghi is an educator, author, speaker, consultant and angel investor. He is a limited partner in Techstars and integrally involved in the Chicago program. Andrew is a lecturer at the Kellogg School of Management at Northwestern University and is also founder & managing director of StrategyLab, Inc., a growth strategy & innovation consulting group.
Andrew is a contributor on the topic of innovation for a series of shows on The Travel Channel and is the author of several books including The Future of Innovation, The Upside of Down: Innovation through Recessions, and The Riddle: Where Ideas Come From and How to Have Better Ones. The Riddle was chosen by Fast Company as one of its “Smart Books.” You can reach Andrew by email at email@example.com or follow him on twitter @andrewrazeghi.