Understanding Dream Marketing and Its Importance
Dream marketing is a strategy that involves anticipating consumer needs before they even realize them. This approach requires businesses to fully understand their customers’ profiles, enabling them to create a sense of necessity that drives purchasing decisions. In Mexico, for instance, seeing holiday decorations in September might seem premature, but it’s a deliberate tactic known as dream marketing.
According to Carlos Herrero, founder and president of Extrategia, dream marketing is about providing a response that aligns with what customers are looking for. This involves tapping into consumers’ memories, imagination, and nostalgia to offer suitable products. McKinsey’s research supports this notion, revealing that 71% of consumers seek personalized interactions, and 76% feel frustrated when they don’t receive them.
Implementing Dream Marketing Strategies
Companies that effectively anticipate customer needs see a 30% increase in sales by extending the selling period for seasonal products. To successfully employ dream marketing, businesses must delve deeper than just the customer’s purchasing decision. Instead, they should focus on understanding their interests and desires.
For example, baby stores often advertise future needs for infants, prompting parents to buy ahead and prepare accordingly. Social media also plays a crucial role in dream marketing, as early posts create a sense of urgency and desire to stay current among users.
Hyper-personalization is another powerful tool for businesses, allowing them to better connect with individual consumers or social groups. Small and medium-sized enterprises (SMEs) can also leverage dream marketing due to their closer customer relationships and localized market intelligence.
SMEs and Dream Marketing
Contrary to the belief that dream marketing is exclusive to large corporations, SMEs can also benefit from this strategy. Their advantage lies in having a more profound understanding of local market needs and the creativity to adapt and thrive.
A local bakery, for instance, can anticipate demand by offering seasonal products like pan de muerto or creating custom orders for rosca de reyes. By understanding and catering to their customers’ desires, SMEs can significantly boost sales and create more job opportunities.
Key Questions and Answers
- What is dream marketing? Dream marketing is a strategy that anticipates consumer needs by understanding their memories, imagination, and nostalgia to offer suitable products.
- Why is dream marketing important for businesses? By effectively implementing dream marketing, companies can see a 30% increase in sales by extending the selling period for seasonal products and fostering stronger customer relationships.
- How can SMEs use dream marketing? SMEs can leverage dream marketing by understanding their customers’ interests and desires, utilizing hyper-personalization, and capitalizing on localized market intelligence.
