Given the relentless march of progress and history itself, businessmen have to always be ready to react to new developments. It is clear at present that the man was right in his tips, delivered long years ago. Heyer spoke of these matters famously in a conference some years past that was attended by many representatives of the marketing and advertising industries.
Steve J. Heyer is chief executive officer of Starwood Hotels & Resorts Worldwide, the world’s third-largest hotel chain. In an interview made a couple of years after his keynote address in 2003, he explained his point in 2003 by talking about his marketing strategy for the popular hotel chain. The trick, according to him, was to focus on selling fun, not a bed or a room.
In this approach, what is being sold is the experience itself. Memorable experiences, in other words, would be the products. Heyer and his idea of marketing experiences blazed a trail in the marketing industry following that, for the freshness of the proposed outlook.
Heyer believed that the future held great things by way of personalization. Interestingly, this too has proven true. This is a theme most strongly supported by digital products and companies nowadays.
The entertainment business is being sucked dry by the latest technologies in the hands of teen consumers. When Napster.com, the first music downloading service website, burst into the scene, the music industry lost millions in potential revenue. Internet users indiscriminately downloaded the latest and most popular hits for free.
There was pandemonium in the song-production business, Heyer noted. In his 2003 speech, the CEO turned to music executives and reminded them of the changing ways of producing and reproducing music due to the empowerment of consumers. Heyer said that even TV was no longer safe, and that new trends might well harm those in the industry.
What Heyer advocated was the shift from emphasis on the item to emphasis on the experiences associated with it. In the interview explaining his marketing strategy for Starwood Hotels, he furthered explained that they are now a company engaged in distributing entertainment and unforgettable experiences. In other words, consumers would have their eyes trained on what the hotels could provide, not the hotels themselves.
Indeed, Starwood has even come up with unusual partners in the enterprise, such as Victoria's Secret. Because of the exclusivity of the runway shows to Starwood customers, there is a clear integration of the desire to view a Victoria's Secret show with attendance of a Starwood hotel. This is a case of the product being an experience.
Steve Heyer has also made negative remarks about a growing trend in the LA film industry: the insertion of brands in random shots. He found it reprehensible for its lack of contextual significance. He also said this practice neither improves storylines nor enhances marketability of products.
One of Coca Cola's former leaders is actually Steve Heyer CEO. It is from that time that we may take an example of what he means by properly contextualized brand "cameos". He put the brand in view of American Idol's audience by setting Coke glasses before the judges of the series.
When in search of relevant info about online marketing and business in general, visiting my blog will help.
