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Mr Srinivas is a Co-founder and Director at Master Mentors Advisory Pvt Ltd, a Premier Consulting Organisation. He has 20 years post educational experience in leading Indian and MNC organisations.

Thursday 31 May 2012

THE 3 HOOK THEORY IN MARKETING..

                               What are the 3 strong hooks you have to catch your customers?
Successful companies understand this and have this invariably as a part of their proposition to customers..
Marketing is all about attracting the customers to the company’s products and service.
While target marketing is about reaching out to the right customers in the right place, the brand should have strong hooks to catch the customers, engage them and draw them its net.
IN 1993, BPL launched Car Stereos at BPL in 1993 in Delhi. The sales head at Delhi was the best and the brightest with a track record of being a star sales manager.
Once  the briefing on the product pertaining to the launch was completed, the USPs, the competition, the pricing and the positioning etc., the sales requested for the 3 compelling things that he can tell the trade to convince them about our proposition to ensure a great launch’. Once the team could brainstorm on this, prioritize the communicable benefits regarding the product and zero in on 3 USPs of the product, the  field was in a much better position to launch the product and could indeed do a great job.
In 2001, the National Marketing at RayBan Sunglasses, was into a brainstorming session with the account director at the advertising agency. While working on the campaign creative, the account director mentioned, ‘Can you please tell 3 distinctive and desirable features of RayBan that would attract the consumers?’
The team could figure out that, the requirement for a healthy & safest gadget for sun protection,  the prestige value associated along with a favorable value for money trade off and the strong perception of being the highest quality and durable product are strong hooks for the consumers to patronise the brand.  This insight invariably formed the cornerstone for all communication campaigns of RayBan which continues to the best choice in its category for discerning customers globally.
It is indeed relevant even today, when observe our own actions, it generally takes atleast
3 parameters to stand out from the rest in our mind and perception, for any product or service to be adopted.
Why 3 ? Because human minds finds it difficult to register more than 3 items in any attribute at the same time. Outclassing the competition on 3 items will indeed represent a good barrier to competition and seems no flash in the pan! This also has the ability to attract a wider range of audience for which the relative importance of the parameter may wary from item to item.
For example for those who travel by air, the 3 must have hooks would be Convenience, Safety and Time saved and for those using Google, they would be, Speed, Relevance and Simplicity of search.
While there could be more hooks ( more the better), 3 strong hooks covering the most desirable features of the product or the service as differentiated from the alternatives will go a long way in attracting the target customers.
What are the various aspects of these hooks and how do we communicate them to the prospective customers?
For maximum effectiveness,
A)     The hooks have to be universally appealing and make strong sense for majority of the consumers as a major factor affecting the purchase. Ideally these hooks have to encompass the most sought after needs meant to be addressed by their consumption.
B)     The target consumer should be able to immediately able to understand how the hook is indeed relevant to his needs personally and how the brand, the product or the service stands out on these features w.r.t competition and his/her needs.
C)     The hook should be visually communicated to the target consumers for establishing the relevance.
D)     The communication of the hook to lead to a curiosity buildup in the minds of the consumers for maximum effectiveness. Remember, Onida ad 'Don’t envy it, Buy it!.
E)      The hook can work if the product is in immediate reach of the target consumer and hence take care to make the product accessible in an easy manner. The hook should not be in a place that is out of reach for the targets or in a location that is not frequented by the targets.
F)      There should be a call for action and an associated trigger for the target to come and try out the product.
With the above strategy we can come out with compelling marketing programs to attract the target consumer, engage them and get hooked on for ever..

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