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Insights on money, career and trading

Making Money: The Value of “New”

Posted on June 8, 2016 by Daniel at 9:30 am

When it comes to making money, there’s a certain draw to the idea of ‘new’. And ‘new’ isn’t necessarily going to be a truism, but rather an advertising point in many cases. New can mean a lot of different things, and the fact that people generalize about it, or attracted to it for their own reasons, can work to the benefit of the people doing the selling.

Think about the ideas of new fashion, the label of ‘new’, the adjective ‘new’, and feel for where it fits in your advertising pathway (regardless of your actual project). And then consider what purpose early adopters might play in this plan, and what the consequences of time are when it comes to claiming the idea of newness.

The New Fashion Example

For example, how much about ‘new’ fashion is actually new? How many new things are really being created or introduced? Chances are, very little. But by the promotion of new arrivals or similar concepts, as an advertiser, you’re funneling people through a production tunnel that makes them want things more, and want to pay more for them.

Who Are Early Adopters?

With any ‘new’ advertising campaign, you need to understand the concept of the early adopter. These are the consumers who don’t follow trends, but rather experiment with new products on the market. They aren’t afraid to try things that aren’t necessarily popular yet, and they are going to be some of your best friends if you’re trying to catch the attention of the mainstream public. The early adopters are basically the ultimate pass or fail filter for new things on the market, so should be courted with language accordingly.

The “New” Label

Have you ever noticed how many labels, or even brands, use the word ‘new’ as part of their story? An easy example would be something like looking up the New Line Cinema company. Just that simple label can drastically change how the brand is viewed, and that was very much a decision on the part of the original company manifesto. If you want to make money, you learn to use words like this to your advantage at every turn.

The “New” Adjective

And then, simply within advertising copy, you’ll see ‘new’ all over the place as a money-making incentive for companies. Want the best toothpaste? Get the newest one. That’s what the message is. Now does new necessarily equate with best on a practical level? Most times, probably not. But understanding that consumers react in this way is smart business.

Understanding the Consequences Of Time

The one drawback of using ‘new’ in this manner is that it may be seen as a misnomer when new things are around for too long. Think about the example of a radio station calling itself the newest country station over the course of five years. That can eventually be seen as pandering rather than truth.

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Insights on money, career and trading