One of the things fast moving consumer goods (FMCG) and consumer packaged goods (CPG) companies can teach B2B marketers to do better is research.
When your business focuses on creating and then moving millions of units into market, the stakes are high if you get it wrong. Not only can your brand take a very visible hit, your bottom line can take a beating too. A warehouse full of products no-one wants is a financial disaster by any measure.
Here’s my dilemma. I run and attend a lot of meetings where food is provided so that everyone can ‘eat and work’ in the spirit of efficiency. What’s interesting is nine times out of ten, the food is still on the table an hour or two later – hardly touched. I’m sure everyone has noticed this phenomenon – but no one talks about it. It’s the elephant in the meeting room.
When we cater, are starving participants thrown off their train of thought for the entire meeting as they wrestle with the overwhelming desire to eat, yet resisting in case they commit a social faux pas of some kind?
There have been many analogies for “the multiplier effect”. Pushing a flywheel; riding a rollercoaster; the list goes on. The premise of the multiplier effect is that the impact of any addition of a marketing element or channel will have a multiplier effect after a certain number of repetitions.
We have been noticing the multiplier effect at a couple of event series we have been running over the last few months. Our attendance numbers keep increasing, no many how many times we run it.