Marketing Myths Debunked
By bstewart • Sep 9th, 2009 • Category: Features|
Utah Valley BusinessQ solicited the help of some local marketing mavens to debunk those pesky myths that have been circling about. Find out what they had to say — and what your marketing needs to do. UNIQUE CREATIVE DRIVES RESULTS COMPANIES CONTROL THEIR OWN BRAND Your company’s brand lives in the heart of your customer. It’s based on all the things your customer has heard and seen about you, the way he’s treated when he deals with you, his experience with your products and service, and how he feels when he calls or comes in for a visit. For good or ill, when a group of customers have the same feeling about you, you have a brand. DESIGN DOESN’T MATTER To evaluate just how design is a benefit (or liability), we have to understand how it is measured. Measuring such a subjective field may seem like a daunting task, but the first — and most important — step in evaluating design is to determine its purpose. Good design serves a purpose. And by defining an objective or problem to solve, we set a benchmark against which we can measure success. Good design will solve problems and open doors. Bad design won’t. In addition to serving as a building block for a strong, recognizable and respected brand (think Apple, Nike or Target), design can achieve less concrete business goals. Design can communicate the intangibles like credibility, personality and value. Good design can improve your bottom-line; it can enhance customer, client or user experience. In addition to helping you make that all-important first impression, good design will give you control over a memorable professional image. ANY PUBLICITY IS GOOD PUBLICITY This scenario is a marketing nightmare. On the one hand, the offending video was exploding online and doing significant damage to the brand; on the other, it was not really making a splash anywhere else. How do you handle something like this? As a business it is critical to get into the conversation where the conversation is happening. In this case — online. With the recent surge in popularity of sites like Twitter and Facebook, the business of public relations is being forced to change rapidly. Marketers must understand the importance of online communication and how it can change your business — literally overnight. Any publicity is good publicity — but only if you know how to strategically get yourself out of a potentially bad situation. WORD OF MOUTH IS THE ONLY VOICE YOU NEED YOU HAVE TO SPEND MONEY TO MAKE MONEY A great example of an economical marketing campaign is Orem-based Blendtec’s Web site and YouTube video campaign “Will it Blend” (willitblend.com). To promote their super-performance “Total Blender,” Blendtec created a series of videos using their blender to chew up everything from iPods to marbles. The videos are short, enjoyable to watch and spread by word of mouth. For example, the 1.5-minute video of their blender destroying an iPhone has been watched more than 7 million times! Traditional television marketing requires businesses to spend millions of dollars on commercials and infomercials in order to reach a national audience. Instead, Blendtec opted for a cost-conscious and undoubtedly more effective solution by creating a viral marketing campaign that is engaging and memorable. Obviously, Blendtec spent some money on this ingenious campaign — but at a cost considerably less than traditional television advertising. As you begin brainstorming for your next marketing campaign, think outside the box. What is unique about your business? What type of marketing message can you create that will spread on its own? What types of channels can you use to share your message (YouTube, Twitter, Facebook)? Remember, when it comes to marketing, spending money may not always mean making money. ADVERTISING WILL CREATE SALES Product Do you have a product or service that consumers want or need? Have you established the right look and brand for your product? How can you best position your product/service to the consumer? How can you differentiate your product/service from your competitors? Price Is your product or service competitively priced, or is it priced relative to its value? This doesn’t mean you are the cheapest in town (unless you are). This means for the service you provide, does the price reflect the value? Promotion What is the value statement for your product or service? This has nothing to do with “On Sale Now” — this has to do with positioning why the consumer needs or wants your product/service now. In a repair service business, for example, the promotional statement might be “24-hour service” or “same-day service.” Placement Finally, we get to the advertising part. There are so many advertising choices. It’s important to analyze what is the best medium for your particular product or service and for your budget. If your business covers the Wasatch Front, then you’ll want to choose a medium that effectively and efficiently covers the Wasatch Front. If you’re a local business with local customers, then you’ll want to choose a medium that specifically targets your trading area. If you’re a specialized business, then you’ll want to advertise in mediums that target those specific industries. Advertising can create sales, but it’s the overall strategic positioning prior to advertising that will assure the successful results. IF YOU BUILD A WEB SITE, THEY WILL COME Just spending the time and money to get your Web site on the Internet doesn’t mean you’ll get the customers and growth you’re expecting. Internet marketing consultants spend a lot of time resolving this misconception. In fact, building your Web site might have been the easiest part. With the growing number of Web sites on the Internet today, major search engines like Google, Bing and Yahoo! won’t give your Web site the rank you want for a keyword just because your site is online now. It’s like opening a new restaurant in the desert without any roads nearby. You’ll need an array of marketing tools to let people know you’re open for business. Pay per click advertising puts sponsored listings in prominent places on the major search engines. These ads appear when your customers search for a keyword you’ve targeted. Although it can take a few months to get your campaign optimized, you can begin seeing results in the first weeks. Search Engine Optimization is your best long-term choice for a positive return on investment. While it takes a little longer to see results, you’ll get higher quality and higher volumes of traffic when you do. Online marketing is the future, but don’t feel overwhelmed. Most online marketing firms will offer reporting and tracking to make sure you’re getting your money’s worth. Now that you’ve got your Web site up, it’s time to let your customers know. CLICK HERE TO VIEW THE MAGAZINE ONLINE Share |
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These little myths went to market — and came back debunked.