by admin | Jan 13, 2011 | Blog, Promotion
Marketing is synonymous with Promotion, because 80% of the marketing effort is spent on Promotion.
Promotion is usually the only element of the Marketing Mix (Product, Price, Place, Promotion, People, Process, Physical Environment) that marketers can control and constantly fine tune. Price changes are quick to implement and analyze and rarely change frequently. Changes to actual products or services, their distribution channels, processes or people tend to be minor, so the focus as it rightly should be is promotion.
Although some marketers have control over product design and pricing, distribution, etc, they are or should be, the closest to understanding and correctly satisfying customer needs, they are often restricted by the parameters of the marketplace; the cost of inputs, market demand, etc, so promotion becomes the key tool in attracting customers and fighting off the competition.
Promotion, until fairly recently was a one way monologue, well suited to marketing’s focus on Products. But with the increasing focus on the Customer Experience, a dialogue is today a critical requirement for every business. Yet most marketers, despite the advances in technology, in both small and big companies are struggling with holding this dialogue, making it meaningful or even capturing and correctly interpreting what the customers are saying. Adopting new and complex technology was never going to be easy. Coupled with the consumer’s newly acquired powers of Social Media, the customer is really King!
Hence you can see that Marketing is all about Communication, which is 2-way rather than Promotion which tended to be 1-way. Marketers are trying to stop “talking at” the customer and trying to “converse with them” and this is not easy, putting marketers and business owners under real pressure!
Communication just like Promotion, is still one of the greatest costs of “doing business”, so it is vitally important to get your strategy right before blowing your entire budget, communicating the wrong message, to the wrong people, at the wrong time…
Communication is a science, with it’s own principles. To get the right message in front of the right people, at the right time, and expose them to the message enough times to elicit a favorable response and then interpret that response and act correctly upon it, we need to learn the principles of effective communication.
by admin | Jan 12, 2011 | Blog, Strategy
Marketing is a recent science, especially based on its widely accepted definitions and is still less than 200 years old, whereas as branding is as old as “civilization” or at least civilization with formal trade and some form of currency!
However, just like the word branding, “marketing” is still misunderstood by most small business owners. In the same way that you can not control things you can not measure, you can not excel at things you do not understand!
Reading this blog one may get the impression that the author has little hope for the average small business owner, yet nothing can be further from the truth! SME owners and entrepreneurs in general are the most resilient and positive members of our society! And in fact they are (if still in business after 5 years from their start up) by definition great marketers…their opportunity and greatest challenge lies in becoming much better marketing communicators or simply better at branding their small businesses!
Below are the most common definitions of marketing:
U.K. Chartered Institute of Marketing:
Marketing is the management process responsible for identifying, anticipating and satisfying consumers’ requirements profitably.
American Marketing Association (AMA):
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational goals.
The Marketing Association of Australia and New Zealand:
Marketing consists of activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of products (goods, services, and ideas).
Just like branding is mostly about differentiation and creation of positive perceptions inside the minds and hearts of your customers, marketing is a broader concept that can be summarized in 3 words “satisfaction of needs”, which is exactly why small business are great at doing what they do! They are great at what THEY DO, being plumbers, chiropractors, architects, builders, accountants, lawyers, etc
So what can the average small business do to improve their marketing? They need to start selling benefits rather than features of their products and services.
As someone undoubtedly famous said “sell the sizzle not the sausage”, “sell the absence of mice instead of mousetraps”, “shade instead of curtains”!
In the next entry we’ll examine why Marketing is synonymous with Promotion and why Branding is the critical element of promotion.
by admin | Jan 11, 2011 | Blog, Promotion
There are a lot of great technicians in advertising. And unfortunately they talk the best game. They know all the rules … but there’s one little rub. They forget that advertising is persuasion, and persuasion is not a science, but an art. Advertising is the art of persuasion.
Bill Bernbach
by admin | Jan 11, 2011 | Blog, Promotion
Forget words like ‘hard sell’ and ‘soft sell.’ That will only confuse you. Just be sure your advertising is saying something with substance, something that will inform and serve the consumer, and be sure you’re saying it like it’s never been said before.
Bill Bernbach
Recent Comments