2014-December-Whitepaper-Resolutions

Messaging360: A New Year, A New Opportunity for Business Growth

2014 December Whitepaper

The New Year marks a new beginning. Many commemorate this chance to start over by writing New Year’s resolutions. In fact, the University of Scranton Journal of Clinical Psychology reports that 45% of Americans usually make resolutions, which may include everything from losing weight to getting organized to quitting smoking.

 

The start of a New Year also poses a valuable opportunity for marketers. Behavioral economist Katherine Milkman and her colleagues from University of Pennsylvania recently conducted several studies analyzed when what she termed “nudges” (i.e. sales calls, distribution of promotional materials, etc.) to potential clients to buy products were most effective. Their findings confirmed that moments that represent a temporal turning point--for instance the start of a week, month or year--are when people are most likely to try new things.2 The beginning of the year is what psychologist Richard Thaler termed a “notional boundary”: the start of a new unit of time brings with it a sense of optimism and the promise of “a new me.”3

 

For retailers, the focus on a fresh start presents the ideal time to target potential customers. With the holidays behind them, potential customers are poised to try something new, or consider a product or service again in a new light. 

 But it’s not just retailers who can capitalize on individuals’ collective focus on renewal. January may be the ideal time for other industries, such as health services, government, non-profits, education, real estate and more, to launch a new advertising campaign. The notional boundary of a new year primes the target market to notice the new ad initiative. 

The following provides the marketing strategies necessary to capitalize on customers’ penchant for a fresh start and gain new business in the New Year.  

 

New Year, New You

 

The creation of New Year’s resolutions is fueled by a desire for self-improvement. With this in mind, companies have a natural starting point for connecting with potential customers: they can focus on how their product or service will improve lives. Below are three messages that will particularly resonate with customers in the New Year:

1. Avoid pain, gain pleasure.

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Sources:

  1. http://www.statisticbrain.com/new-years-resolution-statistics/  
  2. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2204126
  3. http://www.newyorker.com/tech/elements/why-we-make-resolutions-and-why-they-fail
  4. https://blog.kissmetrics.com/15-psychological-triggers/
  5. http://www.gbmc.org/body.cfm?id=937&PLinkID=98
 
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