How Brands Grow has 768 ratings and 66 reviews. -Create brand assets.more. Believe in Byron Sharp's marketing.
Yron Sharp would like you to know that almost everything you've learned about marketing is wrong. Here's the real truth, according to the University of South Australia marketing professor, whose 2010 book has recently grown surprisingly influential among top brands: 20% of your brand's biggest buyers don't really account for 80% of sales. These 'loyal' consumers aren't really that loyal. The best way to grow is to get more sales from people who care even less about your brand than the loyalists. There's more: Buyers of different brands are fairly similar despite all your most obsessive data segmentation efforts.
People rarely hear your 'reasons to believe' and don't believe them anyway. They're more likely to buy based on emotion and because your marketing has drilled into their memories with well-worn brand characteristics like logo, color, scent or old ad taglines. It might be easy to ignore all this coming from way Down Under, many time zones distant from the centers of the marketing universe. Yet Sharp, his Ehrenberg-Bass Institute for Marketing Science and book 'How Brands Grow' are having a, well, growing influence on brands. Marketers including Procter & Gamble, Unilever, Coca-Cola, Airbnb, Uber, Microsoft and Verizon have sponsored the institute's research.
'We noticed starting in 2013 that more and more of our clients were bringing up 'How Brands Grow' and talking about this man Byron Sharp,' said Will Platt-Higgins, VP-global accounts at Facebook. 'It was at first a novelty with one or two clients. And then it became more.' It was enough to get Platt-Higgins to buy the book and read it. And that started to change how he thinks about marketing.
'Anyone focused on the agency or brand management side, we all believe we have very loyal consumers buying our diapers and soups and cars,' Platt-Higgins said. 'This book debunks that.
Byron uses this expression that we're all polygamist consumers. We're loyal, but within a range of things, which is why people have two or three types of shampoo in their shower.' 'How Brands Grow' has made an outsize impact on marketing by challenging conventions. Credit: Oxford University Press. Sharp's book didn't set fire to marketing orthodoxy immediately, but it has gradually built its own loyalists. Perhaps proving that Ehrenberg-Bass knows how to apply its own teaching, sales have increased each year since it hit the market, Sharp said.