Since Valentines’ day is right across the corner, I thought it would be a good idea to write a love post… But not a regular one, but about the love stories between companies and people
Trade shows are always a great place to take look at different companies and try to figure out what makes one brand a highly desired one and what doesn’t. I’ll go straight to the bottom line. I really don’t know… I doubt if anyone does.
My personal take on that was at the latest CES, where my company (Vidmind) demoed a cool product together with Hisense and knowing Hisense, they are surly about to conquer the world, and yet the didn’t get half the love as Samsung or LG got (and if you think I’m biased, read this article from Wired).
There are many other examples for a lack of correlation between the quality of the product provided (say, based on critic reviews and user reviews) and its sales.
One of the most famous ones is HTC One – with an aggregated score of 92 (by Engadget), the highest of any other Android phone. Nevertheless, the company is now straggling hard these days with a market share of only 2%!
HTC One – Great Phone, Terrible Sales
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Other examples include camera maker Fuji, Car maker Skoda and so forth…
How can someone explain the lack of correlation between great products and lack of sales?
Kevin Roberts, CEO of the advertising agency Saatchi & Saatchi, tried to get an answer to why some products are more desired than others. He thought of two factors – respect & love. In case you’re successful to have both respect and love, you’re riding the horse, or as he called it – Lovemarks. To get the love marks you’ll need your brand to include 3 ingredients - Mystery, sensuality & intimacy. I
If you take Roberts’ theory and think of Apple, then the theory works great – Apple is a company surrounded with Mystery, my Macbook air is the most sensual notebook out there, and I have an ongoing intimate relationship with the Apple devices.
Macbook Air – my beloved nootbook!
But what about Samsung? What’s the mystery around it? Can you tell that my Galaxy phone is sensual?
How do we become loved?
An interesting story is Pebble. Eric Migicovsky, the founder of Pebble, was straggling to get love from VCs. They didn’t love his watch at all. So with no choice left, he turned to Kickstarter, a crowdfunding platform to get some love from the crowd. He got. Big Time (ha-ha)!
Laozi, the legendary Chinese philosopher and the founder of Taoism said once: “Love is of all passions the strongest, for it attacks simultaneously the head, the heart and the senses.”.
I guess that just like in real life where love is irrational, and attacks with no warning signs, it works the same with brands.
Happy Valentines!
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