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The Link between Marketing and the Banking Crisis, Brexit and Donald Trump

Posted By Administration, Wednesday 9 November 2016
Niall O’Grady, Director of Permanent TSB’s Product Management Unit spoke at the Marketing Institute Breakfast on 9th November at Fire Restaurant. Niall discussed the link between Marketing and the Banking Crisis, Brexit and Donald Trump.

In the wake of the US elections results, one question is on everyone’s mind: how did Donald Trump win the elections for the US presidency?

Niall highlighted the key factors and steps that Trump has used to engineer the marketing campaign that lead to his victory. And one of the most crucial success factor is customer experience, and its delivery.

In many businesses today, marketing is still only a support role when it should be at the head of the organisation, Niall argued. Beyond the most classic aspects of marketing such as research, one should try to identify the key business drivers and what improvements could be made to improve their delivery. Customer experience is a big one, although in Ireland today it is taken up inconsistently at best. Consumers are looking for simplicity, accessibility and authenticity. They want simple, tangible solutions to complex problems that they cannot entirely grasp. And Donald Trump gave them this simplicity, while telling a consistent story throughout his campaign.

Here are the Steps he Followed:

1. Donald Trump started with fact-based insights. There is one part of the US population that is frustrated and hasn’t experienced any improvement under the previous administration.
2. Next came Behavioural Analysis. Trump actively targeted this part of the population, who is looking for a change that will affect them in particular. He created a message directly aimed at this audience and a brand they could believe in.
3. He then used motivation through fear and hope, always keeping in mind his key audience.
4. Trump carefully crafted the delivery of his message, by showing up to meetings where he told the same story consistently, thus building and reinforcing the Trump brand.

So what can marketers learn from Trump’s campaign?

•    Relying on research alone is not enough. Pre-election polls proved wrong both in the case of Brexit and of the US Presidential elections. In business too, research can seem to support what an organisation is already doing, which can lead to complacency and prevent change.
•    The impact of regulations is generally beneficial for organisations. But in the case of Trump it is the lack of fact-checking and regulations on what can and what cannot be said that played in his favour.
•    We should not underestimate the power of emotion over rationality. The polls predicting Clinton’s victory were based on rational thinking, but Trump touched a portion of the US population by appealing to their emotions.

Regardless of what one might think of Trump, he has executed an undeniably successful marketing campaign that we can all learn from.

Tags:  #miimb  Trump  US Elections 

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