So I was watching the movie Wall Street this weekend, how appropriate! Gordon Gecko had the great speech to his investors at Teldar Paper: "The point is, ladies and gentlemen that greed, for lack of a better
word, is good. Greed is right. Greed works. Greed clarifies, cuts
through and captures the essence of the evolutionary spirit." What a comment.
As I got a bit slammed by my Fear as an ad motivator blog, I'm SURE, I'll get some comments here about Greed in continuing to discuss the 5 advertising motivators.
So do I think using greed in advertising is a good thing? In certain cases - definitely. It helps overcome consumer inertia. Just don't abuse it, as it can be a risky motivator.
According to Webster, 'Greed' is defined as "an excessive desire to acquire or possess more than what one needs or deserves..."
We've all seen the ads that hype that someone can lose 50 lbs. in 5 days, or a guy can be instantly more "manly" after taking a pill. This is a use of greed; it is an excessive desire to acquire something much more soon than it may be reasonably deserved. Abuse of greed occurs because it is a base-level reaction in many people. You've all seen the spam email about the $1,000,000+ account in Nigeria that 'only you' are being contacted about.
However, there are some appropriate uses that leverage the "greed" motivator. Maybe not as strongly as Gordon gecko would like, but that's the point...a more slightly more subtle emotional appeal.
One of my favorite commercials is a VW commercial. A dealer walks out of the building with a happy couple on their way to buy a new Jetta, it's one of the last on the lot. A guy who wants the car as well licks the door handle marking it as his car (and grossing out the couple!). He wants the car so bad he'll go to any lengths to get it!
Or how about QVC? They promote amethyst earrings like they must have the last 20 pair on earth. "You can't find these anywhere and we only have 20 pairs left. You have two minutes to call! HURRY!" On HSN the Knife guys are boasting the Emperor's Collection (complete with a SWORD) at $169.95, only 10 left!!!
Do you remember the Furby Frenzy of 1998? A $30 toy was going for $800 on the secondary market! Greed was abound as parents HAD to buy this toy for their children because their friends had one. (Disclaimer: If you were one of those parents, it's OK, you were doing it for the child you love.) Don't even get me started with Tickle Me Elmo.
Time limits, quantity limits, they all drive our greed. What do you have that might trigger someone to make a decision to use your good or service?
- Are you a Realtor selling a house in a hot market? So many people want to get into the housing market and they'll pay over asking just to get in. If you don't sell them a house, someone else will. Get your name out in front of them with your properties.
- Does your retail business sell a product that everyone wants? In the holiday season there is always THE product that flies off the shelves. If you've got it, flaunt it.
- Are you an artist or art dealer that has a limited supply of lithographs or better yet originals? Selling #130 of 150 total lithos can appeal to the greed factor.
- How about a winery that has limited production of a Cabernet, and you're down to your last 50 cases? Prompt people to 'act now' - get the word out via email or on your website and get great response.
- The concert or event you're promoting may sell out, so promote your "One night only" event where tickets "sold out last year".
Whatever product you have, calling out any time limits or product limits, even expiration dates can induce your customers or prospect to respond. Use it. And don't hate me for quoting Gordon Gecko, although greed got the best of him in the end, it doesn't have to get the best of you.
As always, if you have examples of good or bad uses of marketing motivators, or just want to add your 2ยข, comment back!
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