timing is everything. tivo is also a major player in television market research stop/watch research...
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Timing is Everything
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TiVo is also a major player in television market research
• Stop/Watch research service examines the commercial viewing habits of 4.4 million U.S. households
• Measures the rate at which ads are skipped
• Provides insight about the stickiness of TV campaigns
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Bowflex was the #1 watched ad in June 2007 by targeting the right audience at the right time
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• Placed most of its ads on pro wrestling channels
• Wrestling skews disproportionately to young male viewers
• Placed ads in June prior to summer swimming season
* Tivo Stop/Watch Reasearch, June 2007
Bowflex became #1 watched ad in June 2007 by targeting the right audience at the right time
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What Tivo’s Stop/Watch teaches us
• Top performing ads not necessarily the most creative
• Far more likely to be direct selling ads
• Relevance appears to trump creativity
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Why is timing so important?
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We Know From Research That There Are small Windows of Opportunity When Our Habits Are Up For Grabs
Routine RewardCue
7The Power of Habit, Charles Duhigg, 2012
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What happens in these instances is that..
• People are forced to make conscious decisions again
• This explains why vacations are often the best time to start new habits
8The Power of Habit, Charles Duhigg, 2012
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There are a variety of different life events that naturally disrupt our cues
When We..
• Marry
• Buy new house
• Divorce
9“Life Status Changes and Changes in Consumer Preferences and Satisfaction”, Journal of Consumer Research 11, no. 3 (1984): 784-94, Alan Andreason
We are more likely to..
Buy new type of coffee
Buy different kind of cereal
Buy different brand of beer
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But the arrival of a new child results in arguably the greatest cue changes of all
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And these changes have enormous financial implications
• Avg. parent spends $6,800 on baby items before a child’s 1st birthday
• Disney estimates North American baby market to be $36B/year
• What’s more, purchase convenience becomes the #1 decision driver
• This explains why companies offer free gift bags to new mothers
11The Power of Habit, Charles Duhigg, 2012
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• Pregnancy prediction algorithm revealed that pregnant women buy items in
specific chronological order
• Model became so precise that Target could predict delivery dates within a two
week window
• And the investment paid off
– Target’s sales grew from $44 billion to $65 billion from 2002-2009
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Given the stakes, Target decided that approaching new moms in maternity wards was far too late
The Power of Habit, Charles Duhigg, 2012
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Timing is critical in other domains as well
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Enter Joe Girard, the World’s Greatest Salesman
• Born in 1928
• A high school dropout, he bounced around from job to job
• Got his first sales job at age 35
• Recognized by Guinness Book of World Records as world’s greatest salesman - averaging 812 car sales per year for 16 years (1963-1977)
14How to Sell Anything to Anybody, Joe Girard with Stanley Brown, 2006
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A sample of tactics Joe used to ensure that his customers were ready to buy
• Cold called customers to see if they were shopping for a new car. If not, he asked when they would be and called them back then
• Created a master filing system that alerted him when pre-qualified leads were approaching the end of their leases
• Activated satisfied customers by offering them a $50 bonus for each customer referral that resulted in a sale
• Incentivized loan agents to make him aware when their clients were arranging car financing so he could intervene and sell them a Chevy
• Incentivized insurance claims agents and repair shops to tell him when their customers total their cars
15How to Sell Anything to Anybody, Joe Girard with Stanley Brown, 2006
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Summary
• Timing is critical because the windows of opportunity for behavior change are small
• We know from research that the potential for behavior change is greatest when traditional cues are no longer present
• Savvy companies develop mechanisms for spotting these customers and engaging with them
• Promotional efforts that fail to acknowledge these windows have the potential to squander resources
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