Hey there 👋 - Abhi here!
Happy Thursday to the 24,173 marketers reading today :)
Turned 21 this weekend and I think Whiskey Sour is my poison of choice. Water still tops the charts though.
Anyways let's get to today's agenda:
Rolex's Guide to Marketing Psychology
8 Psychological Triggers
Reading Time = 2 minutes 44 seconds
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The Rolex Obsession
I know nothing about watches. Still, somehow, I'm in awe of the Rolex brand. Now imagine all those watch aficionados - their respect for Rolex is above and beyond.
And that got me thinking - how did Rolex build this obsessive fan base?
If you ask me, your neighborhood marketing psychologist, it comes down to 8 tactics:
1/ A Global Name
Rolex's co-founders spent hours finding the right name.
Matching together letters from all across the alphabet, they settled on Rolex.
Two simple reasons:
limited syllables
easy to pronounce globally
That's two rules you should remember.
2/ Strategic, Safe, Long-Term Partnerships
Rolex doesn't like a gamble.
They pick ambassadors that:
align with their pursuit of excellence
would never tarnish their reputation
and are guaranteed hit-makers
Their approach may cost a lot more, but the alignment is undeniable:
3/ Good Timing (Pun Intended)
When Mercedes Gleitze, a professional swimmer, decided to swim a 21-mile stretch, Rolex reached out. She was their first ambassador.
And even though her attempt failed, the watch survived.
Watch how Rolex turned this failure into a massive win:
4/ Show, Don't Tell
They took that story one step further. After their success with the Oyster, the first waterproof watch of its time, Rolex set up aquariums in each store.
1 simple display:
Humans value hard work:
it symbolizes more value
increases consumer trust
And Rolex emphasizes this effort through its copy:
Every Rolex ad always shows the same time. And it looks like a little smiley :)
But that's no coincidence. Research proves that 10:10 is the optimal time setting:
for enhanced positive emotions
increased intention to buy
Who's smiling now?
People admire social responsibility. And when it appears genuine, like in Rolex's case, it can increase product performance evaluations by 22%
So I'd argue that their not-for-profit status helps them sell a lot more...
9/ The "Forever" Guarantee
At this point, I've gone through far too many Rolex ads.
1 common trend: An emphasis on durability
And the exaggeration definitely helps:
That's all for today!
Hope you enjoyed and learned a thing or two :)
ICYMI, last week we analyzed The Power of Metaphors
A Review From A Fellow Marketing Psychologist...
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See you next Thursday,
Abhishek "G-Shock For Now" Shah