A good story can overcome a lot of obstacles. Understanding the most valuable commodity in consumer behavior can be the difference of failure to launch or successful unicorn. Before we dive into Monday’s submission, let’s take a look at an example of a great storytelling brand that delivers an attractive experience. Watch this and tell me that a great story doesn’t trump all. This hook is so good even parody can dissuade you.
Let that be the basis and lens from which you consume this piece of content. Before we get to this week’s submission, be sure to join for a chance to be featured. Our Mailbag Monday this week comes from a fellow former P&G marketer, Will. He recently ventured off on his own to take on big bread with his bold new Keto brand. Here is his question:
This boils down to two components worth noting, Will. These two components are 1.Premium-ness and 2. the DTC business model. Both come with challenges that deserve their own in-depth attention but let’s hit the highlights of the research we crafted for you. Bread Equity The first dynamic that is significant and you should make active marketing efforts against is the premium-ness of your product and how you are going to effectively convey that to warrant the price hike. When you opt to market your product as premium over value, then your focus needs to rely on customer experience. At the end of the day, your consumers need to be buying more than bread. What they ultimately are investing in comes down to the customer research you do. You can either target: Switchers of already Keto bread buyers or Newly Keto consumers Knowing you are also an alum of P&G, I don’t need to expand on how important it is to invest in your consumer research and fully understand what segment makes the most sense to target, their barriers to entry, their buying behavior etc. Therefore, we won’t get in the weeds there. And for those of you who are curious, here’s the executive summary of the importance of customer research on consumer segments. Will can invest his marketing resources to construct persuasive messaging to one of these two groups. He could speak to them both if he wanted, but it’s not efficient and if you pursue that route, you run the risk of stretching your brand equity thin – so thin that you could end up standing for nothing. Each of these consumers have different thresholds for switching rates, loyalty, education required, perceived risk to the industry, and many more that could change the messaging and ultimately, the conversion. The Value Of Direct To Consumer (DTC) The second dynamic that you must address head on is the DTC component. The strategy you’ve chosen here works well for what you are trying to accomplish. Delivering a premium experience is much more simple in a controlled situation like DTC. Delivering your product directly to your consumer boosts your personal engagement, helps you collect more intimate customer data to act on, and allows you to develop funnels and systems that facilitate habitual buying. Fostering deeper relationships with your customers is a crucial element to building trust, trade-up, and lifetime value. Those are the strategy points. Now, let’s dig into the meat of the execution to start delivering against the information above. Below are four key ways you can test, learn, and impact immediately some hurdles that you may be facing and address your question(s). The Importance Of Brand Storytelling Per the strategy note above, your brand must depend on more than just simply being a choice about bread. This bread is geared toward a lifestyle. But in order to get people invested in your bread, you need to show them what’s under the hood. The most powerful way to do this would be through engaging, hi-quality brand videos centered around education and less about actual selling. Questions that would be a good start to focus these brand stories on would be: What is it about your bread that makes it unique? How is it made and why is it important to the consumer? Why is your bread a better choice as it relates to their immediate health? Why is it so much more expensive than other Keto breads? Does it make more sense to just ship directly to me and why? The beauty about executing on this principle with excellence is that once you deliver and a consumer becomes emotionally invested, their loyalty is deep as you’ve morphed a mundane bread purchase into a more complex healthy choice. If done correctly, you leap the price/value barrier you mentioned in your question by repositioning the buy/no buy choice as a choice about their well-being. If they had a positive initial experience, they will likely not say no when it comes time to purchase again as they will justify it due to health benefits. The caveat here is you have to make sure to associate your bread through your brand storytelling video content with health and healthy living. Getting them more engaged in lifestyle of Keto will only cement their choice to pursue your bread. Flavor Without Sacrifice Message As mentioned, the aim should be for people to be buying more than bread. You are able to make progress against this through your messaging. Based on our exploratory research, the trend we’ve uncovered is that to those who call themselves firmly “Ketogenic”, bread is a nice to have but it’s reasonably accepted that it’s outside the realms of the diet. It’s cited as one of the most missed food groups but also cited as the best habit kicked due to an increase in daily comfort and energy levels. To make this actionable, an avenue we think is worth testing is messaging that makes your Keto bread a story that empowers your consumers to choose their health and not have to sacrifice their flavor or favorite foods. More than likely those pursuing Keto haven’t always been Keto. Therefore some of lifelong favorite foods contains bread. Giving them an experience that allows them to return to the things they love would be powerful. Research showed a correlation of diet strictness and diet failure. This message would resonate with nervous consumers about switching and increase the likelihood you’ll get consumers who sit on the fence.
SEO & Keywords
In order to maximize the engagement from your target consumer, focus on keywords and long tail phrases associated with Ketogenic eating that will draw them in. As you can see, if using Google suggestions, “bread” is relatively high on common words connected to “Keto”.
Providing valuable content that answers objections and key questions about the Keto diet builds trust. You can then channel them into “Why Keto Bread” through a simple messaging funnel using content marketing. Refer up to the section on brand storytelling for content articles to create. This is where creating content with good keyword density centered around “good flavor without sacrificing health”, as an example, would come into play. We have a lot more information on SEO and keyword research for this specific question and we cover this topic thoroughly on the membership site, so if you are interested in more information on this topic, shoot an email to firstname.lastname@example.org and we’ll set you up with a scope conversation for your brand. Waterfalls & Anchors The final executional component we’ve identified as an opportunity is your pricing structure. Operating on limited information here but a tactical component that would be advantageous to your business model would be to incentivize scaled buying through waterfall pricing while engaging price anchoring strategies. Something as simple as pricing your bread in a set of three that renders a single loaf purchase significantly less cost efficient than buying three loaves. Your mid tier price can include other value rich information like a food assessment and simple Keto outline. As mentioned above in the SEO portion of the analysis, those who searched “Keto” also commonly searched “Keto bread” as well as “Keto diet for beginners”. This is a powerful hook that will lead to increased conversion. Your third tier is where you anchor your offer significantly higher than the other two. Add more loaves and more value – make sure you can still deliver on it, though. The key here is to erode the price barrier by setting up the middle tier as the ideal purchase by through anchoring. If you set your third tier high, and your initial first tier low, consumers will naturally gravitate more towards your middle offers – especially health conscious consumers. The mid tier offer should include so much value it is impossible to refuse.
Take a look at the example below for reference on how this plays out and looks when put into action.
Notice anything about the pricing structure that’s interesting? It’s clear that in this example, Survey Monkey wants you to opt for the The Advantage package in the middle DESPITE optically making it appear cheaper. The subtle strategy shift is that the middle option is billed annually while the Standard is not. They’ve perfectly positioned their offer to compensate for the churn they experience at the Standard tier while also being comfortable with the objections they are going to get from those who will not purchase simply because of the Advantage option’s steeper one time payment. Once you get people into your ecosphere, continue to deliver them lifestyle content. The key ingredient to customer retention for your brand is making them feel like they belong to something. Make cheating on their diet feel like they are cheating themselves. It’s a lot harder to abandon things when you have more invested. Get your face out there. Let them see you and where possible, you see them. Make it personal. Conclusion If you take one thing from today, let it be this: never underestimate the value of a good story. Your hook, story, and offer should be the things you focus on first. You can have the best product on planet earth but if you can’t capture minds and get attention, then your ability to convert is effectively zero. If you have any questions, comments, concerns, etc please feel free to comment below or reach out direct to email@example.com. Share this content if you feel someone in your network might benefit from the read. Keep submitting your Mailbag Monday questions for a chance to win 100% FREE, custom work from us and if you haven’t already, go ahead and click here to get started today! It’s fast, simple, and free. and we’ll see you back here next Monday.