Some of the most lucrative businesses have been built on what on the surface appears to be a completely irrational idea. Maybe it’s best not to be too sensible when it comes to marketing.
When pet rocks were marketed in the United States in the mid-1960s some people probably thought the consumer society had reached an all time low.
Of course, if you were among the small collection of people who made a tidy fortune from the “discovery”, marketing, sales and collecting of these extraordinary “creatures”, your view would almost certainly be quite different.
Nevertheless, with four decades of marketing progress since those heady days it is difficult to find many crazy marketing ideas that have worked, that seriously challenge the pet rock’s status on the level of “craziness”.
Yet, the successful marketing of water over the last five to ten years has to rate a mention. Imagine, if you will, the conversation that may have taken place when someone struck upon this simple (and crazy) idea.
Marketer: “We could put plain water in a bottle and charge approximately 25 times the price that people normally pay for water.”
Sceptic: “But tap water is one of the most accessible commodities in the Western world, why would people want to walk around with a bottle of the stuff, when they can just turn on a tap?”
Marketer: “We could make it the cool thing to do.”
Sceptic: “What’s cool about water, I have been washing in it since I was a baby and as for drinking, it’s the most boring drink in the world.”
The conversation could obviously go on and on.
We can only imagine that the skeptic must have had a day off when the decision was made. What a lucky break that was.
Bottled water has become a massive industry, with the delivery to offices alone creating countless jobs for athletic males who have a penchant to run at all times, presumably because their delivery rounds are so huge.
Marketers who want to create impact have invented some amazing guarantees. One of the best was seen during the late 1980’s when an Australia-based company offered a guarantee that spun people out. It was framed along the following lines:
“Book in for our two-day seminar and send us your check now. But we won’t cash your check. We’ll hold it. And during the seminar we shall have your check on a table at the back of the room. If at any time during the seminar you are not totally satisfied that you are receiving great value, you can go to the back of the room and take your check and leave. No questions asked.”
Now that was a crazy guarantee – but it worked wonders. The company consistently packed people in to their seminars and charged way above the going rate.
Life insurance is a very serious business as everyone knows. Nothing crazy about that. You would expect that people are in a very serious frame of mind when they invest in life insurance.
During the mid 1990s the 130-year-old National Mutual (now part of the global AXA Group) had great success selling life insurance policies through the mail.
All recipients had to do was complete the two-page coupon, attach their check or credit card details and return it all in a reply paid envelope.
One day, a smart young marketer had the idea of offering a torch or travel clock for free, to anyone who signed up. Now that’s a crazy idea.
Why would any self-respecting citizen consider a cheap torch or travel clock at a time when they are committing to such an important investment?
However, this seemingly crazy idea increased the response rate by a massive 37 percent.
There are many crazy marketing ideas that have worked. However, many more have failed.
If you are introducing a high-risk tactic, it’s best if you can strictly limit your initial outlay. Then, at least, if your crazy idea, is not a winner, you won’t lose too much.
Copyright 2002, RAN ONE Inc. All rights reserved. Reprinted with permission from www.ranone.com.
Chris’ combination of academic credentials, career experience and temperament ideally suit his calling as a business development advisor. Clients say he has a mind for business and a heart for service.