Michael R. Solomon – we are living in a trademark controlled reality

09. May 2017 – Katharina Schlangenotto

“What does your brand mean to your customers?” That’s Michael Solomon’s first question. His audience today is very excited, they want to know everything about fresh, trend-setting consumer insights and who could be better to deliver the subject than Michael Solomon, the guy who “literally “wrote the book” on understanding consumers”.

What if…your customer is not your customer?

He kicks off with a story about a company that had defined its target group as young female 20s, cosmopolitan and outgoing. The funny thing was that, despite of the clear targetting, sales would not turn out as expected. They asked Michael Solomon to help; and together, they took a closer look at the data. The answer they found was a big surprise: the targeted customer was female, yes, but everything else turned out to be quite different: the “young, cosmopolitan girl” was actually more of a lady in her 50s, living alone in a flat, usually with more than one cat.

The importance of knowing your data

Michael Solomon’s primary focus is on the importance of studying and understanding how products and services are experienced by consumers – not by the brand! This is the first and maybe the most important lesson to learn. It is not about YOU (the brand) – it is all about your customer. This leads to the second lesson which is: know your data! The better you know and understand your customers, the better sales will turn out.
Michael Solomon has published research on topics such as consumer behavior, fashion psychology, branding, retailing, and marketing research in numerous academic journals, and he has been recognized as one of the ten most productive scholars in the field of advertising and marketing communications. Michael is passionate about the extraordinary world of the ordinary consumer.

Good bye marketing segments

He is convinced that the fundamental categories that form the base of marketing strategy and customer insights simply ceased to exist. “You need to understand the new landscape of consumer behavior so you’re not left in the dust”, he explains in his speaches on trends in consumer behaviour. Due to the Internet and Social Media, trends come and go at a tremendous pace – and so changes the mind-set of consumers. The million dollar question remains: how can I meet my customer’s desires and needs? Finding the answer has become ever more diffucult and targetting has turned into a never ending process of listening to and engaging with your customers to finally be able to take the right action.

Online and Offline Reality is starting to blend

Online and offline activities are blending: we are meeting friends while posting and chatting at the same time. We are exposed to influences from all sides – and brands need to be aware of this and use the right channels to communicate to their customers. Because, to come back to the original story, a 50 year old Lady surrounded by cats might not be a big fan of Instagram or other cosmopolitan communication channels.

In fact, the marketing message has not changed, it is just more work now in order not to loose track.

If you want to find out more about how to read your data and understand YOUR consumers, book consumer behaviour Guru Michael Solomon for your next event! Please contact us via phone or email at michael.solomon@premium-speakers.com.