Why did Mr. Dang Le Nguyen Vu only wear canvas shoes for 70,000 VND, but Trung Nguyen had to spend several hundred billion on supercars and beauty queens?
Entrepreneur Dang Le Nguyen Vu – founder of the coffee brand Trung Nguyen, has received great public attention in recent years since his divorce from Ms. Le Hoang Diep Thao. The noisy divorce had attracted strong public attention, and perhaps thanks to it, the public would find out how much wealth Mr. Vu and Mrs. Thao had.
Despite having a fortune of trillions of dong, the chairman of the Trung Nguyen Group has a rather modest dress style. In 2019, from a photo of Mr Vu sitting on a plane and netizens found the brand of shoes he was carrying.
In the photo, the businessman is still wearing the familiar clothes: a yellow and black and white hat, a black jacket, white pants, white shoes, a bandana, and a cream canvas travel bag. According to research, it is a pair of Vietnamese shoes, sold in all local markets for a price from 70,000 to 85,000 VND. This discovery caused quite a stir at the time, as the chairman with the surname Dang appeared somewhat popular, while the Trung Nguyen group had always been associated with the image of supercars and beauty queens.
In 2018, during a press conference after 5 years of absence from the media, entrepreneur Dang Le Nguyen Vu shared about this.
When asked about Trung Nguyen’s journey to donate the USD 5 billion book, which has always been associated with the image of supercars and beauty queens, Mr. vu said:
“Business revenue is about 5,000-6,000 billion dong, if you spend 10% on marketing, it’s about 500-600 billion dong, if allocated to communication, advertising and branding, a few hundred billion each. After telling them to stop buying a car , I go to teach people how to be rich, but I am not rich, I tell anyone I have to show it.
But the vehicle is a fixed asset with the business. Supercars draw the press, media and the public to book donation journeys.”
From a marketing perspective, as Mr. Vu, this trip has attracted the attention of the press, media and the general public. This can be considered as a successful word of mouth campaign.
Word of mouth is the most primitive form of marketing, but is highly valued for its effectiveness.
In the book spread effectRenowned author Johan Berger emphasizes that the best thing about word of mouth is that anyone can own it from a Fortune 500 company to a little-known corner restaurant. Word of mouth makes things popular and doesn’t cost millions of dollars in advertising. It just takes how people talk about it.
We often exaggerate word of mouth because it’s easy to spot on social networks like Facebook and Twitter, but real-life conversations over the same time period are hard to record. However, the story of Trung Nguyen giving away books in a super car is not only mentioned on Facebook but also pops up at lunchtime between work colleagues, in the elevator after work or at the sidewalk ice tea shop.
The question is there are billions of topics, ideas, stories in life, why do people talk about certain things and not others? Johnah Berger admits that the story of Trung Nguyen’s super car has 6 ingredients that are always there. He named this principle STEPPS which stands for 6 principles.
Social recognition (Social Currency)
What does talking about a product or idea make people look like? Most people want to look smart than stupid, richer than poor, and cool than nerdy. Just like the clothes we wear and the cars we drive, what we say affects how other people perceive us. It is social recognition.
As Berger explains, Knowing about impressive things like Trung Nguyen’s super car giving away books or the massive $5 billion from this trip makes it seem like people are always on trend.make someone look up-to-date.
Berger concluded that in order to get people to talk, marketers or anyone else needed to create a message that could help them achieve this desired impression. Performers need to find an inner point of interest and make people feel inside
Activation (Trigger)
How can we remind people of our products and ideas? Triggers are stimulants that make people think about relevant things. People often talk about what comes to mind, so the more they think about a product or idea, the more it’s talked about.
For Trung Nguyen’s story, the common trigger here is an image of an expensive supercar showing up with a beauty queen. After all, from the bottom of our hearts, everyone has a part of wanting to own a nice car or be beautiful and famous. This desire is a trigger point that can be implicitly conveyed by Mr. Vu with the message of reading books to get rich and set up a business.
Feel (Emotion)
When we care, we share. Viral content often naturally evokes emotion. Commonly shared emotions are anger, surprise, and amusement. The Trung Nguyen case succeeded in evoking emotions of shock and public curiosity.
Public (Public)
Can people see someone using our product or performing the action we expect? The well-known saying “Monkey see, monkey do” refers to the human tendency to imitate. Berger argues that making something more observable makes it easier to imitate, and makes it more famous.
A more specific example is that someone who easily clicks like a website or sales fan page has 1 million likes instead of just 10. Similar to Trung Nguyen, who has received great attention from the public before, when Trung Nguyen is about to raise the flag (in Mr Vu’s words), he will easily receive majority acceptance.
Real value (Practical Value)
People love to help others, so if a product or marketer can show them products and ideas that can save time, improve health, or save money, they will spread the word.
We need to understand what makes something seem profitable. We need to emphasize the great value it generates in terms of money or vice versa and summarize the knowledge and skills that can be easily transferred by others. There will be cases where many young people will share the story of Trung Nguyen’s book donation so that their friends can receive the good books they have read and feel appreciated.
story (Story)
People don’t just share information, they tell stories. Stories are vehicles for conveying things like morals and lessons. Information seems to be spreading under the guise of empty chatter.
There are two reasons why a story is easily changed by: People are less likely to oppose stories than they are to promotional claims. Second, it’s easy to get so caught up in stories about what happened to someone that we don’t realize we have to protest.
Mr. story Vu about starting Trung Nguyen’s business from dropping out of medical school, being an avid reader, and working with his bare hands inherently inspires young people. Therefore, Trung Nguyen’s book donations are easier to accept and relate to than other ordinary people.
By Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
