Iconic Advantage by Soon Yu

Author:Soon Yu
Language: eng
Format: epub
Tags: Noticing Power, Staying Power, Scaling Power, Iconic Brand Language, Signature Elements, Signature Moments, Iconic Branding, Iconic Advantage Framework, Dimensions of Iconic Relevance, What makes something iconic?, Distinction, Relevance, Recognition, Iconic Portfolio Management, Principles of Staying Power, Familiarity, Meaning, Delight, Excitement, Scaling Vectors, Scaling Universe, Pivotal Moments
Publisher: Savio Republic / An Imprint of Post Hill Press

The Science of Recognition

There is a much-documented psychological principle called the mere exposure effect.8 Quite simply, it describes how people tend to be more predisposed to a stimulus simply if they’ve been repeatedly exposed to it. And it follows that the more an audience comes into contact with a product or brand, the more it works its way into their minds.

Much of this happens subconsciously, which makes it even more powerful. As Daniel Kahneman made clear in his book Thinking, Fast and Slow, most decisions we make are fast, instinctive, and emotional. Iconic Advantage taps into this insight.9

The entire field of behavioral economics is based on the fact that people use heuristics—or mental shortcuts—when they make decisions. And that’s very apparent in purchase decisions. One such example is the availability heuristic, which Wikipedia describes beautifully:

“The availability heuristic is a mental shortcut that relies on immediate examples that come to a given person’s mind when evaluating a specific topic, concept, method, or decision. The availability heuristic operates on the notion that if something can be recalled, it must be important, or at least more important than alternative solutions which are not as readily recalled.”10

As we’ve stated, products with Iconic Advantage are the ones that spring to mind when an audience thinks of their category. This is what’s known in marketing land as unaided awareness. It’s one of the best indicators of purchase consideration.

Many of our purchase decisions are heavily influenced by our peer groups. Studies show that we often buy products to communicate something to the other members of a group. The Prius effect mentioned earlier shows that people will spend a significant amount of money to show their social group how green they are.11 But, of course, this kind of conspicuous consumption isn’t limited to just environmentalists. It affects a wide swath of product choices at every price point.

If your product is favorably recognized by your audience, sales will follow. So when building Scaling Power, the goal is to focus on building favorable recognition. And this favorability is much easier when you have strong Noticing and Staying Powers to begin with.

Noticing Power is about selecting the best seeds. Staying Power is about planting them in the hearts of your audience members. Scaling Power waters them, adds the fertilizer, and gives them the sunlight they need to flourish. And together they give you a bumper harvest.

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