What Rich people Know ( series) by Brian Sher
6 keys for more effective marketing
Marketing is dead, long live new marketing.
Medical Scientists all over the world are in a frantic race every year to develop new more powerful of antibiotic to beat the latest mutated bacterial infections creeping into populations.
Due to our overuse of this once a miracle of medicine , bacteria are with ever increasing speed becoming resistant – through genetic mutation , to the most powerful antibiotics doctors have in their medical arsenal .
There is a real fear creeping into medicine that soon antibiotics will no longer be effective to stave off these ‘super bugs’ (already in existence in most hospitals) and we once again will see people dying from simple bacterial infections taking us back 100 years in medical thinking.
So what has this to do with Marketing. Everything . This powerful analogy allows us as marketers to compare this to what is going on in modern business.
Marketing practice have been over used and abused -much like antibiotics- that consumers much like the bacteria in our analogy -are becoming increasingly resistant and less responsive to ordinary and unskilled marketing efforts. Somewhat like the race medical scientist find themselves in so as marketers are we in a race to keep keep one step ahead of consumers and produce marketing campaigns and marketing programs that are cost effective and work.
Unfortunately for many including most sme’s with small budgets and limited marketing experience and up to date knowledge and skill, this race is all but lost.
The internet has made this effort all the more complex costly and confusing and the rate of change has increase 100 fold and things that worked 6 months ago or even 6 weeks ago fade fast.
SO WHAT THE ANSWER?
The answer to this evolution of the consumer is that we need to get back to basics; much like the answer for science is the use of fewer antibiotics and not more. So Here are 6 ways to ensure your marketing is more effective:-
- Spend more time on Product development.
Developing a product that is not only good but way, way above average. Steve Jobs showed us how with the Apple iphone and ipad. These products were so innovative that it has not only revolutionised Apple as a company but change the way people behave forever. Follow this example. Start with your product and ask yourself does this product sell itself it’s so good. If not then it’s time to go back to the drawing board. Poor products are the number one reason businesses find marketing them so difficult. Sound obvious but look around and 99% of companies fail in this arena.
- Make innovation your core strategy.
Basic I know but do you do this? You cannot, not afford to do this Apple knows within months their competition will be copying their product innovations, so they innovate fast and have the Apple iPhone 4,5,6, and 7 well underway by the time they have launched the Apple 3 iPhone. . If Apple knows this and they are a multi-billion dollar company then there a reason for it and you should too.
- Always ,Always answer the basic consumer question…Why Should I buy from You?
Consumers don’t care about you , your company, your dream or your profits or lack of it. They are about what you can do for them to make their lives better, easier or richer in some way. So answer this question why should they buy from you? And if your answer is’ better quality’ or ‘better service’, you are in serious trouble. The world does not need just another doctor. The world need a doctor who can cure cancer, treat alzheimers, reverse strokes. Not a doctor who offers better service but offers no answers or nothing special at all. The world does not need another lawyer or plumber. It needs a lawyer who will guarantee to win your case, or a plumber who arrives on time or you don’t pay. Get the picture.
- Don’t sell.
Consumers hate being sold to. They have seen it all and have a radar to run from anyone to tried any of those old worn out sales and advertising techniques. People hate to be sold to but love to buy. The only thing they love to do more than buy is buy from someone they like and trust. So develop all your marketing strategies around creating the preconditions for building systems that make it so consumer gravitate toward you and your business naturally through not only employing the above strategies but also not making selling your prime goal, but relationship building your priority and build systems to automate this, so sales happen effortlessly. The best companies in the world do this without you even being aware of it.
- Build a funnel of products or services
Never build your business around a single transaction or single product. If you do this then business long success becomes impossible. Think about natural consumer behaviour . Normally one purchase leads to another , Are you ready to help your customer with the next natural purchase. How many times have you been in a business when you say to yourself, these people should also offer xx or yy. Its obvious but many businesses miss this completely and lose multiple profit opportunities.
- Test everything
Often I get asked will this work. Answer = no one knows but a small test will do amazing things. It allows you with complete freedom to try some new things, take some risks and succeed or fail fast and learn from it. Its through failure we find success. This is even more true in marketing as it is in science. It’s a legitimate scientific approach to finding breakthroughs. Whatever marketing decision you are contemplating, test them and those that fail discard, those that work expand rapidly and then innovate and tests again.
These are just some of they keys to achieving success in your business. Each key has many dimension and mindset distinctions, all of which you will be well advise to explore and learn more about through the work of social scientist Siimon Reynolds at www.thefortuneinstitute.com a real world school doe Sme’s and entrepreneurs seeking more success in business.