Mythology is no longer a tenable marketing strategy. Myth marketing worked in the 1900s but you should change strategy at this point. I pulled some fun CPG examples but the concept applies to all industries. In fact I created this with financial services in mind, because money myths are the most pervasive and impactful. I’ll talk more about money myth marketing in a future episode.
For now let’s have fun and start with Fruit Loops, Herbal Essences, and toxic Tampax! Hang with me, I will tie it back to your own business. Watch video podcast:
From 1990s Herbal Essences shampoo ads to the biggest lie you ate for breakfast, to the culture of marriage and divorce finances — think about the profitable myths of the old ways of doing business and the changing appetite of consumers preferring total honesty from brands. (Of course this extends to services businesses as well, and actually more so because trust is everything when it’s relationship-based with a client rather than bottle-based with a Walgreens shopper.)
In other words I need to trust my attorney or advisor more than I need to trust that my eyeshadow doesn’t contain talc (which usually contains asbestos and is more commonly used than not).
Myth Marketing and taboos — the connection between cpg and finance:
Contrast the myth marketing of
1) sugary GMO breakfast cereal advertised as healthy
2) daily “healthy” haircare (advertised for too-frequent and incomplete product use)
3) traditional feminine hygiene products (tampons, pads) that are 98% of the time laced with bleach and heavy metals
…with the honesty of upstarts like Flex Fits with the Flex Disc. If you are in a buttoned up services business, anything in finance, you should pay attention to trends in products and marketing for any semi-taboo products like anything in the feminine hygiene aisle. Because money is Americans’ biggest cultural taboo.
Jump to 4:18 –> video about Flex Disc’s impressive founder Lauren Wang. Lauren is perfectly demonstrating my point about honest marketing and common-sense, human-friendly product dev — which is the future.) Follow Lauren Wang, CEO & Founder of The Flex Company on LinkedIn.
It’s like we all forgot about David Ogilvy’s most brilliant advice at the most opportune moment in which the market has never been more savvy and amenable to a brand that treats the customer like a wife instead of a moron.
Watch this 12-minute “Myth Marketing” episode on YouTube or listen on Spotify or Apple.
takeaway:
Identify the biggest myths of your own industry, then be the one who tells the truth.
Example myths:
- Only wealthy people can afford financial advisors
- Financial advisors just buy the index and go golfing
- Home ownership should be everyone’s goal
- Pre-nups are unromantic
- Dental insurance is worthwhile
- Morning routines are helpful
- You just need $1 million to retire
- Pain is weakness leaving the body
- “I’ll sleep when I’m dead”
90% of consumers don’t trust ads. They have access to too much information to be fooled now. In fact, the narratives behind some of the largest and most profitable institutions are probably a house of cards when you check the tape.
This is an homage to David Ogilvy and inspiration for you to identify the big juicy myths of your own industry so you can be the standout brand that tells the truth. And that’s what your wife wants, that’s what she buys.
Let this inspire your best and most honest marketing. That way you’ll have customers — not just buyers.
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