Why Aren't People So Fixated on Loyalty?

In this week's show, we welcome Dr. Nicole Hartnett, Senior Marketing Scientist from the Ehrenberg-Bass Institute for Marketing Science. We discuss the laws of marketing, what happens to brands when you stop advertising, how to build strong brands on distinctive assets, and even spend time discussing loyalty myths. Nicole shares a lot of insights that we know you will find valuable!

Enjoy the show!

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Our Guest:

Follow Dr. Nicole Hartnett on LinkedIn: https://www.linkedin.com/in/nicole-hartnett/.

Ehrenberg-Bass Institute: https://www.marketingscience.info/ 

Marketing: Theory, Evidence & Practice: https://www.amazon.ca/Marketing-Evidence-Practice-Byron-Sharp/dp/0195590295/ref=asc_df_0195590295/

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The Sleeping Barber Podcast:

Follow our updates here: https://www.linkedin.com/company/sleeping-barber/

Get in touch with our hosts:

Marc Binkley: https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/

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Literature:

When Brands Stop Advertising: https://www.marketingscience.info/when-brands-stop-advertising/

Marketers' Intuitions about the Sales Effectiveness of Advertisements: 

https://www.researchgate.net/publication/304764587_Marketers'_Intuitions_about_the_Sales_Effectiveness_of_Advertisements

How Brands Grow: https://www.amazon.ca/How-Brands-Grow-What-Marketers/dp/0195573560/ref=asc_df_0195573560/

How Brands Grow Part 2: https://www.amazon.ca/How-Brands-Grow-Emerging-Services/

Building Distinctive Brand Assets: https://www.amazon.ca/Building-Distinctive-Brand-Assets-Romaniuk/dp/0190311509/ 

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Timestamps:

• 1:00 - Intro to Nicole
• 3:19 - The difference between repertoire and subscription markets
• 9:34 - Loyalty myths, the law of double jeopardy & why market penetration matters
• 13:55 - What influenced our fixation on loyalty
• 16:14 - Law of buying frequencies: why light category buyers are important
• 22:55 - Time & the illusion of solely loyal customers
• 26:29 - Penetration, the sustainable root to growth, is driven by mental & physical availability
• 29:58 - Proof of physical availability - private label substitutions from retailers
• 32:08 - Reach versus frequency - why reach is non-negotiable and the diminishing returns of high frequency
• 35:35 - How accurate are these laws?
• 41:20 - Ads don’t work on me: what happens when brands go dark
• 50:40 - Building solid brands through distinctive assets
• 55:20 - What makes a great ad - the Old Spice case study
• 1:01 - The difference between creativity and branding
• 1:04:03 - Why Nike needs to reconnect the Name with the Swoosh
• 1:05:38 - Brand awareness and category entry points
• 1:08:44 - How to contact Nicole
• 1:10:00 - Post-Pod discussion with V and Marc