The Tipping Point
I have just finished reading this fascinating book by Malcolm Gladwell, the 250 pages pull you into the murky depths of human nature and one well thumbed page at a time the book reveals some fascinating data about people and what makes them do the odd and mostly illogical things they do.
And for me that was the ‘wow’ bit of the book, the smouldering ember that was left when I put it down. That really most people, as a rule, don’t actually base their decisions on independent thinking and evidenced based logic. We are in fact, most of the time, completely illogical folk. We make decisions on all sorts of stuff, important stuff, everyday stuff without really applying logic at all.
So if not logic then what ? well that is a good question and the hint of an answer is 250 pages long. In essence the book is about the ‘tipping point’ and how little things can make a big difference, it is about the power of a few, the importance of context and our desire to follow and conform.
The book explains how these sub conscious factors effect the decisions we make, on what we buy, how we dress and who we aspire to be like. The theory of the Tipping Point requires us to re-frame the way we think about the world, how people relate to each other and how they absorb new information.
Application in marketing
As a marketeer it certainly got me thinking, at the end of the book the author writes: ”There are times we need a convenient shortcut, a way to make a lot out of a little, and that is, in the end, what Tipping Points are all about”.
Making a lot out of a little is what we do, it’s return on investment and as marketeers we are constantly looking for ways to do more for less, to increase ROI. It follows then that if we can find the tipping point of a clients product or service we will be infinitely better equipped to do our job.
And never before in the history of marketing have marketeers had a better tool to find the ‘Tipping Point’, and that tool is testing.
As the digital environment becomes the most powerful channel available to marketeers, so testing has become the most powerful tool we have to make what we do work better.
Gone is the old adage ‘I know 50% of my marketing works, I just don’t know which half’. Traditional media still remains a critical part of any marketing strategy but what we get when we move online is constant, granular feedback. This allows us to constantly test and refine, to make what we do work better, to do more for less.
Here’s a simple, real life example:
The majority us use Google Analytics to measure how our websites perform but when was the last time you used it to test and refine what’s on your home or landing pages ? All the data you need to understand your users is there, bounce rate, CTR, time on page etc. We all know the importance of quality content and answering a users questions, so how well does your website answer yours ? Could a simple change on your home page reduce bounce rate ? Could a more prominent CTA increase sales ? could subtle title or image tweak increase the CTR ?
If you don’t know the answer you really should. Because this is great way to find ‘tipping points’, not just online but for products and services in general.
Online testing is free and accessible to all and the example above is only the tip of how powerful testing can be for business. It can help us find out what ads work, what messages connect and what makes it all ‘sticky’.
In the book ‘the power of context’ describes how important the context of a situation is on the decisions we make and the way we react to new information.
At The Peloton we wanted an environment that would ‘enable’ all the things we want to achieve, a space that will encourage behavior, inspire debate and allow decisions that would not be possible elsewhere.
This is why we put so much time and energy into getting our new office space ‘just right’, creating exactly the right context for what we do.
Helping people and business bring about change is a big part of what we do, applying the true spirit of the Peloton to business, surrounding our clients with experts in their field and taking them to the finish line.
From accounts, pay roll and HR to marketing, sales and consultancy, we have experts ready to help your business with the stuff you don’t have the desire or time to deal with. Leaving you free to do what you do best, grow your business, increase sales and step back to see the bigger picture.
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We have lunch together every day in the Peloton Kitchen, all sorts of people drop in and if you feel we might have something to offer you or your business then we would love to have you in for a bite and a chat.
Let us know if we can help you bring about change, email Kerissa and lets get a lunch date in the diary.