The Truth Behind "Change or Die"

First, some back story: While watching a Youtube video about a young Youtuber buying himself a Lamborghini I gained a wonderful appreciation for the expression, change or die. The public sees a brand even when the brand is not ready to be seen. Lack of control may be unsettling but it does provide an opportunity for more business transparency and brand authenticity.

The video shows a young Youtuber who flew to the Lamborghini factory in Italy so he could pick up his new car in person only to have his future loyalty to the brand compromised by Lamborghini's outdated PR practises; he was not permitted to film. This nearly cost Lamborghini a $400,000 sale. You can watch the video here. 

By resisting change, Lamborghini received negative press in a video that now has over 6 million views. 

For the first time I really understood the what happens when a brand does not stay abreast of changes in consumer behavior or the digital landscape: 

1. A missed opportunity to provide an exciting and memorable purchase experience for a new customer.
2. A missed opportunity to regain a previously lost sale to the Youtuber's brother. 
3. Unintentional damage to the Lamborghini brand due to service that was not up to luxury standards. 
4. A public video with over 6 million negative impressions that shows how poorly Lamborghini performed customer service.

While the Youtuber did choose to follow through with his purchase the experience clearly was not positive and will likely affect his future purchase decisions. Moving forward, Lamborghini would benefit by developing a "camera safe" purchase experience for customers who wish to film. 

In Short: don't be afraid to embrace changes in customer behavior and technology so you remain relevant.

As always, wishing you great success. —TT

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Should Socks Be Branded?

When it comes to socks, a logo is your insurance policy - you don't want to be without one. Yet looking at the socks in my closet I don't have a single pair that has a logo on them. This may be one of the simplest promotional opportunities available to fashion brands - basics like socks require little to no marketing in order to generate sales. 

Risks of not branding socks: 

• Lose an easy sale to a competitor if your customer doesn't remember where they bought the socks.
• Miss out on an opportunity to build the brand's relationship with the customer.
• Saving a few cents upfront may cost you a few dollars if the customer forgets where they bought the socks.

Gains from branding socks:

• The customer is likely more open to upsell offers if they have already committed to buying one item.
• Opportunity to immerse the customer in your newest digital or in-store experience.
• Opportunity to establish buying habits.
• No need to spend any advertising budget on basics as these sales happen regardless of season or price.

In Short: include a logo on your socks to ensure that every shopper knows where to make a repeat purchase.

As always, wishing you great success. —TT

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