In the early 1980’s, the Coca-Cola company was reeling from a drop in sales of its flagship product. They were losing ground to other choices in the market that were sprouting up like weeds in a garden.
Wanting to stop the trend, the executives of Coke started doing blind taste tests with other products. And what they found is that consumers preferred the sweeter taste of their top competitor, Pepsi.
These tests resulted in a secret project to create a new flavor for Coke called Project Kansas. The new flavor was taste tested against the original formula and Pepsi. New Coke was an overwhelming winner.
When the focus groups were asked if they would purchase the new formula as Coke, 10% of the respondents were angry at the thought and stated they would stop drinking Coke altogether.
Regardless of the outcome of the marketing research, the executives decided to introduce New Coke in April of 1985.
And the rest is history.
The backlash was intense. Like being shot down in flames. Corporate headquarters received more than 40,000 calls and letters demanding a return to the old formula.
A few months later and the Original Coke was back as Coca-Cola Classic.
So where did Coca-Cola go wrong?
The executives in charge will tell you that they underestimated the public’s reaction to the new product. While that is partly true, it’s more accurate to say that they ignored the anger that was revealed in their market research.
And here’s the other side that most people don’t see.
The marketing executives confused preference with desire.
Though they are similar, they are not the same thing.
Here’s one rule of marketing that you should never ignore.
People buy what they desire. Not what they prefer.
Eugene Schwartz, one of the world’s greatest marketers and copywriters, said “It would be impossible for any one advertiser to spend enough money to actually create this mass desire. He can only exploit it.”
Schwartz says that you need to take the desires that already exist and focus those on your product.
You may be asking, so how do I apply this to real estate?
And here’s a good example.
Let’s say you have expertise in a certain community. You can’t force people to want to live there. However, you can find people that want to live in that community and show them why you are the expert to work with.
You should target your ads to those who have visited the community recently and have shown interest in real estate.
The offer itself should demonstrate your expertise, explain why they would benefit from it as a client and tell stories of how you’ve helped others in the same community.
This is how you channel desire to your service.
My whole marketing system is based on this principle and others just like it.
If you want to see how this is done in detail, then pick up a copy of my book, Kill Cold Calls, at Amazon today.
Here is the link: https://www.amazon.com/dp/1543119123/
Follow these principles and you’ll convert more prospects than a preacher at an East Tennessee Tent Revival.
Any questions? Then reach out to me any way you can.