Consumers like things that are interesting and intriguing
and brands that offer this can generate high levels of consumer engagement.
Paddy Power capitalises on using the real-time strategy where the events are
captured as they unfold. This approach helps them to capture the attention of
the consumer uniquely; helping to increase brand visibility as well as make it
relevant to the part of the consumers’ daily lives. As will be learnt from
Paddy Power, this can be very strategic in enhancing value for the
organisation.
According to a top executive at Paddy Power, the mischief
takes advantage of fearless provocation by getting people to do weird and most
unexpected things. One of these strategies has involved paying high profile
persons to reveal their underwear which prominently displays the Paddy Power
logo. An example can be drawn from the Euro 2012 soccer tournament when Nicklas
Bendtner, a Danish striker, dropped his shorts while celebrating a goal. The
underwear was, as planned, prominently featuring the Paddy Power logo. It was
sensational and drove debate on the topic on social forums; giving the brand
the publicity that was needed. The striker was slapped with a €100,000 fine and
a one-match ban: an acceptable price under the arrangement.
Another mischief was captured in the 2014 Brit awards. In
the event, gate-crashers into the event and displayed their underwear. These
are sensational pranks that not only appear weird but are also likely to
generate a lot of debate and attention. It is an unorthodox approach that has
been found to pay out. Once each of these pranks is unveiled, a lot of debate
and reaction is generated. It is not only mischievous but more likely get
content going viral. This is the most important aspect of effectiveness in
social media marketing and viral marketing.
Viral marketing is done when an organisation or brand banks
on social media using generously sharing content over the internet. The
significance of this is that when content is being shared by someone a user
knows very well, it is more likely to attract their attention and generate more
interest. Content goes viral only when social media users find it intriguing,
interesting, or thought-provoking. Under these circumstances, nothing would be
as intriguing as a star showing off their underwear in the most unlikely of
places.
So, how do these pranks generate business success for Paddy
Power? Research indicates that customer value is 2.5times higher among
followers of a brand than among the non-followers. This means that when an
organisation is able to inspire meaningful engagement with customers, it is
more likely to achieve success. PP’s success has led to it having 550,000 on
Twitter and 1.5million others on Facebook. It is what sets Paddy Power above
competitors; further indicating that the strategy applied may be achieving the
intended results.
The strategy by PP can also be said to be highly cost
effective. Focusing on real time events that generate a lot of public attention
means that the brand uses fewer resources to attract their attention. The company
is therefore to ride on the wave of events already sponsored by other
stakeholders. This is a form of a piggyback tactic on which the investment made
by the event organisers is converted to be advantageous to the organisation.
The strategy is therefore effective in terms of cost effectiveness and enhanced
consumer engagement with the brand.
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