Marketers go through a lot of stages and phases. Consumer Behavior changes. Technology changes. The economy, the competition, the demographics; they all impact the work we do, and what we focus on. But I’ve found, as I’ve added a new challenge to my marketing bucket list, that the fundamentals never change, and it’s important to get back to your marketing roots.
You see, along with my work with ad agency Seventh Point, I’ve added another business challenge–that of a local franchise owner. It’s one of the reasons this blog has seen a bit of a hiatus. In my search, I wanted to find a business that IS NOT technology driven, IS in-demand and will be for the foreseeable future. A stable business model that I can build through MARKETING. I’ve found that business and brought the first “Window Genie” franchise to Hampton Roads. You can learn more about the company by clicking on that link, but the focus here today is those fundamentals of consumer marketing that this whole initiative has reinvigorated in me. The five key pillars that are key to any business owner operating a small business in a competitive market place…which is 99.7% of all employer firms in the US, according to the SBA.
The same way a pro athlete practices the physical fundamentals of his or her sport on a daily basis, it’s important to stay grounded in these marketing fundamentals, evaluate your business and your plans against them and make course adjustments to stay on track.
My five key pillars of Business Marketing Success
Build a Memorable Brand
I love this oversimplified definition of brand: “The variance between your product and generic.” Everything that follows will contribute to your brand and what consumers perceive about you, but the important word here is memorable. In a hyper competitive world your brand look and feel needs to be something that sticks in the psyche of your target consumer. Working with (purchasing) a franchise operation can give you a huge leg up, and it was one of the key elements I searched for.
The brand look and feel has to differentiate your company, stimulate Top of Mind Awareness and inspire confidence in your company. It also has to be consistent in look and customer experience in order to build presence and over time.
Promote and Deliver Recognizable Value
Businesses can’t survive if everyone is the low-cost provider. Consumers don’t demand the lowest price, they demand the best value and perceived value is a huge variable from one consumer to the next. Marketing price, whether a retail product or a transactional service like cable TV or even window cleaning does not have to be the lowest price, but it does have to be competitively positioned and attractive enough to drive lead traffic.
Finding one key price point and driving it home can establish value, aid in recall, drive leads and protect your margins, all at the same time. Want a couple of examples? Watch for Stihl’s seasonal price point advertising. That same entry-grade blower is $149 every time. Looks like a sale, but it never is. Weber grills, same thing. Window World windows, home of the original $189 window. Price point advertising at an established value for a memorable brand does not have to put you in a race to the bottom.
Execute Persistent, Targeted Paid and Owned Promotion
Diversity of promotion is the key here. Identify your target consumer, but now more than ever you have to reach them through as many channels as possible.
- Be where they are in a communication form they are comfortable with. Social media and content marketing, the types of information you can own (and earn) present a level of authenticity and engagement that fosters referrals.
- Targeted disruptive channels, digital, direct mail, print, outdoor, etc. build awareness and drive leads.
- Build your online presence so that you are easily found and well positioned.
- Event, guerilla and sponsorship marketing create association and personality in the environments where your customer lives.
Develop a balance in all of these areas, track and be persistent. Advertising shouldn’t be looked at as something that just drives short-term leads. It is the road map that builds long-term business.
Focus on Customer Loyalty
Inevitably, a start-up business has to spend a disproportionate amount of time dumping new customers and leads into the top of the bucket. But nurturing customers and relationships is something that has to be done from the onset. It is critical to building loyalty and no matter what your product or service is, your success will be built on your ability to create loyal customers.
Every employee must know his or her role in delivering high quality customer service.
That means strong training not only in the areas of product or service performance, but also in understanding the expectations of your customer. The employee’s ability to see his or her performance through the eyes of the customer is vital to truly satisfying or delighting customers. It’s the only way to create repeat business, and the best way to develop referral business.
Have a Plan and Stick To It
Every new business, even a franchise operation in a new market, needs a strong, well-developed business plan. Identify the market, know the competition, project sales, seasonality, profitability, Build the plan that drives leads and plan for the resources to deliver top quality service. Disciplined business and marketing plans are critical to success. It’s easy to start second guessing, but one key, vital attribute for successful businesses is this:
Successful businesses plan for success.
That takes courage. It takes vision. It takes discipline. It takes effort and late nights. Develop your plan and follow it. Go back to your original plan. How far off are you and how did you get there? Track and allow for course corrections, but make them quickly and deliberately.
So those are my big five. There are thousands of marketing books and even more marketing gurus who will provide variations. I believe you will find these key elements inherent in most of that thinking. If not, I would propose that something big is missing.
Try an evaluation test with your company or business. Run an audit against these five pillars as sort of a tune-up. You’ll find that returning to your marketing roots is a healthy exercise; one that should be repeated regularly for your personal marketing health, as well as your business.