Recommended reading this week.
The Drum – Growing a luxury brand
Psychological insight: Sian Conway-Wood discusses the problems with targeting a younger audience, with reference to self-congruity and the ‘extended self’ among other theories (Von Restorff, cognitive dissonance, availability heuristic). The point is that people grow ‘into’ brands, not vice-versa. Luxury and heritage brands are aspirational, related to identity. They shouldn’t be chasing trends.
Science Says – Advertising next to expensive brands
Psychological insight: Thomas McKinlay presents findings from Kim and Kim (2021), that mid-tier fashion brands advertising next to premium brands are perceived to be more prestigious.
https://app.sciencesays.com/p/advertise-next-to-more-expensive-brands
Choice Hacking – Algorithm blinders
Psychological insight: Now this is a topic that really gets my attention! Gaming the algorithm is not a strategy. Focus on creating social media content that is psychologically engaging. Algorithms constantly change, but the principles of engaging content don’t.
https://www.choicehackingideas.com/p/put-on-your-algorithm-blinders
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