Thursday, December 4, 2008

Measuring emotion--Lovemarks, the future beyond brands

Lovemarks is a marketing technique that is intended to replace the idea of brands. Lovemarks were invented by Kevin Roberts, Chief Executive Officer Worldwide of the advertising agency Saatchi & Saatchi, and are promoted by him and his company. Roberts claims, "Brands are running out of juice." He considers that love is what is needed to rescue brands. Roberts asks, "What builds Loyalty that goes Beyond Reason? What makes a truly great love stand out?" Roberts suggests the following are the key ingredients to create lovemarks:

Great stories: past, present and future; taps into dreams, myths and icons; and inspiration
Sound, sight, smell, touch, and taste
Commitment, empathy, and passion

Roberts explains the relationship between lovemarks and other selling concepts through a simple schema based on respect and love. The full schema is as follows: mere products (commodities) command neither love nor respect. Fads attract love, but without respect this love is just a passing infatuation. Brands attract respect, even lasting respect, but without love. Lovemarks, explains Roberts, command both respect and love. This is achieved through the trinity of mystery, sensuality, and intimacy.

In September 2006, Saatchi & Saatchi won a US$430 million JC Penney contract because of the idea of lovemarks

Anne Geddes - a lovemark

Levi's - another lovemark

Apple - where the hard disk is (read heart instead hard)

No comments: