Atlanta's Marketing Center

Marketing's 3 Wise Men

Marketing has to do with finding the right people to sell your products to.  There are 3 ways of identifying your target market and a good marketeer always uses them.  They are geographics, demographics and psychographics. 

Geographics has to do with where your target market is.  Do you want your offering to appeal to the world, the nation, your region (such as the southeast US), your state, county, city, or even neighborhood?  What is your offering best suited for?

Demographics have to do with population characteristics and include race, age, income, mobility (in terms of travel time to work or number of vehicles available), educational attainment, home ownership, and employment status.  What characteristics within each of these is your offering best suited towards?

Psychographics take a different, psychological view of the population.  They include attributes relating to personality, values, attitudes, interests, or lifestyles.

By using all three segmentation techniques, you can develop are very defined, and powerful, profile of your target market(s).  Do you currently use these segmentation criteria in your marketing?

Are Testimonials Worth It?

I've been asked several times whether testimonials are even worth the hassle.  The answer to that depends upon your prospect but the truth of the matter is that our general population is made up of about 40% who make internal-only decisions, 40% who make decisions based on what others have done, and about 20% who make decisions based on a combination of the two.  (As a general rule, the younger we are the more importance we place on others' experiences.. and the older we get the less importance we place on the experiences of others).

So since about 60% of the general population base their decisions in some part based on what others do or have done, I think it's wise to use testimonials...on your website, on your collateral, print ads, etc.  According to Dan Kennedy, the direct mail guru, adding a testimonial(s) to your copy increases response.

"Social proof" is the term used for the tool that influences those who use external sources to make decisions.  Social proof comes in the form of testimonials, case studies, a mention in the newspaper or a printed article, etc.  The bottom line is that a large percentage of your target market is externally influenced so I believe that testimonials are definitely worth it.  What do you think?

Numbers Game

As a marketing advocate, we're consistently offering advice on better ways of reaching prospects and customers.  Fortunately, there are a plethora of options...from email marketing to television ads.  There is a marketing mix out there for your business that is ideal.

However, that said, any marketing tactic is predicated on the idea that just a (small) portion will be interested and buy.  A marketing tactic that yields a 5% response is, frankly, incredible.  That means that generally speaking, 95% of the time you won't be successful in closing business.  The truth of the matter is that even with even the fanciest, most effective marketing tactics in the world, business development is still a numbers game.  And that never changes.

I have yet to find a business where prospects just naturally approach them in droves (save a monopoly).  Nearly all businesses have to take on a proactive approach and persist through lots of prospects saying 'no thanks'.  So the bottom line is that in order to be successful, give yourself a break and realize that successful marketing and sales means weeding through all the 'no's' to get to the 'yesses'. 

Remember that Babe Ruth only hit safely (base hit) 1/3rd of his career...which means he was making outs a lot of the time.  You'll experience the same kind of dynamic when prospecting.  Realizing it's going to happen generally takes the sting out.  Get out there and swing...a lot.

Working the New Marketing Model

As I wrote in an earlier post, a new marketing model has emerged. The good news is that it empowers small businesses to compete with the big guys and it provides national and even international exposure as opposed to just local reach. But the biggest advantage I think is that because everything feeds into a central area (website/blog), your marketing can build on itself over time. That is, information like product/service updates, branding elements, blog posts about new promotions, frequently asked questions, etc can just be added to the website or blog and be stored for viewing indefinitely, 24 hours a day! These things are all picked up by the search engines and add visibility points that send potential customers back to the site. In the old model, other than a phone number, there was no central information area. So if someone saw a flyer and didn't want to buy the product/service at that time, then the chance of a sale now or later greatly diminished without a way to communicate in the future. That's a great change.

So what's the drawback to the new model? By far it's the time and attention you'll have to spend on it. It means a lot of writing...copy for the website and landing pages, for emails/enewsletters, blog posts, articles, press releases, tweets, facebook posts, creation of profiles for social media sites, ads, and so on. And it means content creation like for videos, podcasts and audiocasts...all in addition to the traditional marketing activities you're already doing.

Itl requires focus and discipline to stay on track as your competitors will be doing the same. You won't have to do everything perfectly (it's tough to do all these things plus manage the business), but ask yourself this question- if you're about to buy something, who are you going to buy from...a company that has a shoddy website (or no site at all) or a company that has a robust, friendly website/blog where buying is easy? The ones that win now and in the future will build a marketing machine that's informative and compelling. If you're not a writer/content creator, then use the resources already in house (marketing person, assistant, etc) to produce the content for you. Or hire someone to manage and produce for you. And start having fun with this new model...sheesh!

Marketing like Exercise

I've tried and tried.  My attempts at the best metaphor in explaining effective marketing always seem to lead me back to one thing...exercise.  There are so many similarities that I believe it really helps to get a business owner into the right mindset through association.

The truth is that marketing the business is a discipline, much like exercise.  Do you really have to market?  Probably not to survive...but in order to grow and flourish...yes, you do.  The same goes for working out.  You don't have to work out...you'll probably live another day.  But in order to thrive and feel good on a daily basis, yes...you need to work out.

And like exercise, it needs to be done on a routine basis.  It takes some time for the muscles to build and tone.  Similarly, it takes some time for your prospects to know, like and trust you.  They need to be contacted a few different ways and over time to understand and be attracted to your offer.

Do you have a problem with exercise and working out?  Hey, no one says it's easy.  My suggestion is to hire a coach or find a workout partner who can hold you accountable until it becomes a habit.  The same goes for business.  If you're not at the level yet where a full-time marketing person is affordable, then find someone who can do it part-time for you OR hire a marketing coach.  Whatever you do, make sure those things get done...marketing and exercise...and you'll run the kind of business (and life) that you want!

All about Buying Strategies

You may not have realized it yet, but you have a strategy for everything you do.  You have a strategy for how you read a book, travel and perform your job... and you have a buying strategy.  Everyone has a buying strategy and they are not the same.

Think about when you bought an expensive item, say an automobile (your buying strategy is similar across the board).  How did you go about looking for it?  Did you get on the internet and do research on a number of cars?  Or did you ask your friends or base your decision on what they had?  Or perhaps you just went to the dealership to look at different options.  Maybe it was a combination of a couple of these or others.

Did the decision on what you wanted have to do with what you wanted (American made, blue, SUV) or perhaps what you didn't want (ie. Japanese made, green, convertible)...or again a combination? 

Did the auto you settle on have more to do with how it looked, how the sales rep presented it, or the feeling you got when you were test-driving it... or again a combination of one of these?  If you look back over a few different car buys over you're life, you'll find that the buying strategy was very similar.

The bottom line is that people have different buying strategies.  In order to effectively appeal to your target market, your marketing material needs to appeal to a number of different buying strategies.  This means your copywriting needs to be directed toward those who make decisions on the own as well as those who need external sources (testimonials); folks who base their decisions on visual, kinesthetic, and audio leads; those who like options and those who prefer procedures as well as other criteria.

A good resource for compelling advertising for the different buying strategies that make up your target market is Shelle Rose Charvet's book Words that Change Minds.  I encourage you to pick up a copy.

Marketing 2.0

For a while now, I've been wondering how all these new online sites would help the public past the surface use of catching up with old friends or exchanging pictures.  By now, I'm sure that a family member or friend has pressured you into joining Facebook or LinkedIn. No doubt they're all interesting at the personal level, but as weeks of use turn into months, it's becoming clearer that there's more to these online sites than meets the eye. What's coming into focus is really a business revolution of sorts, particularly for marketing and promotion. And statistics are supporting this revolution. Internet usage continues to grow as more devices and uses are added.  Online social media sites have exploded and there's no end of interest in them in sight. Business grows via internet sales for goods and services even in the midst of the "Great Recession". And experts say that public interest in things 'online' will become an even more integral part of our lives going forward.

For businesses large and small, what we're really seeing is a new way of communicating.  Whereas in the past, a business could market via billboards, radio/tv, print ads, or yellow page directories, there's been a significant shift to a new model...a model that explains why the marketing experts have been bugging us for years to create nice websites and informative blogs.  This new model is an information-driven one with the website and blog at its core. What's emerging is that these friendly tools will be the communication center for all businesses...ready 24 hours a day to share information, take orders, and handle customer issues.  It will be able to sell and help visitors no matter what stage they're in along the process.  And it will be able to help not only prospects and clients but employees and investors.

The social media sites have become and will continue to be "feeder" services to the core website/blog. The idea is that new content will be developed at the "center" (website/blog), and that messages and elements from social media and related sites will point back to them, and vice versa.  This makes sense as I've often wondered what use Facebook would be after the initial phase of "reconnecting" people.  After all, you can only send friends so many mundane observations before they disconnect.

What I've been asked is that if a new model is truly emerging, what then will happen to the older, traditional marketing tactics such as print advertising, direct mail, tv, and billboards? They've all taken tremendous hits over the last year as people have flocked online. My guess is that they will continue to drop off significantly but will level off at some point...and work within the new website/blog centered model.  Or perhaps they'll continue to point prospects directly back to the company in addition to working within the information-centric model as kind of a hybrid.  The good news for everyone is that the new model will be more efficient and allow more people to connect and promote their services. It's an interesting time and I believe we'll look back at this time as a great one to start and grow a business...even during an economic slowdown.

Adopt an Abundance Mentality

With the continued slowdown, it's frankly easy to stay in a  defensive mode when it comes to promotion.  And it's in these moments when lines are typically drawn on the direction of the company.

This is why I encourage you to take on a mentality that best serves you and the organization.  I'm referring to an "abundance mentality".  You've probably heard of the term before, but I think it's important to review here again as it relates to your business once the necessary defensive measures have been put in place.  And it's one that should be taken on throughout the organization.

An "abundance mentality" looks at how things can be done rather than why they can't be done.  The mentality assumes that things will be done and goals achieved through the single-minded mantra of "where there's a will, there's a way".  Once in this mindset, possibilities and opportunities come into focus and obstacles and problems take a back seat.

The truth of the matter is that when things get really tight, you and the organization frankly don't have the luxury of doubt anymore.  Action in the right areas must be taken and the mentality within the organization must remain positive and goal oriented.  Here are some helpful concepts that make up the abundance mentality-

• "The more we sell, the more there is to sell."
• "If we need to make XX in revenue, then we'll meet it."
• "If we need others' help, then we'll ask for it and get it."
• "If we need money, we'll find the money."
• "If we need people, we'll find the people."
• "If we need ideas, the ideas will come."

The abundance mentality is one we need to get into and stay in through the highs and lows of the business cycle.  What are your thoughts?

Marketing's "One Thing"

I can't stop thinking of a line from a movie as I help my clients build business in a way that is manageable for them.  The line comes from the movie ”City Slickers”. If you remember, Billy Crystal’s character goes on a cattle drive looking for direction at mid-life. On the cattle drive, Curly (Jack Palance) turns to Billy’s character in the saddle and delivers the best answer…holding up his index finger, Curly declares, “one thing”...find that one thing you’re good at and want to do and just do it.

I can’t help but think that that answer, perhaps a “set of things” for you is the best answer for your business.  The fact of the matter is that there are virtually unlimited ways to market your business.  The successful common denominators are consistency and sustainability.  No matter what your business is, if you were to run a billboard campaign for years, you'd bring business in.  Granted, there might very well be better ways, but the element of the prospect getting to know, like and trust you through a billboard ad would take place.

My recommendation is to find a set of things (marketing mix) that reach your prospects in different, impactful ways and that fit your company's time, strengths and interest. Otherwise, you'll start and stop over time and never gain marketing traction.

Are you spreading the company too thin in terms of your marketing efforts?  How effective has it been?

Form vs. Function

In the marketing and advertising world, there's a range of thought which follows any creative vocation ... form versus function.  Generally speaking, marketing is more about "function" and advertising heavier on the "form". 

What this means is that marketing is more concerned about the utility...whether or not what you're doing is producing the desired effect.  Advertising on the other hand, is more concerned about how it looks...whether something is attractive, alluring, stylish.

Large companies have a marketing department as well as an advertising department, with the marketing group generally setting a plan and directing.  Mid-size companies might have a marketing director or manager that outsources advertising work to an ad agency.  Smaller companies (5-50 employees) have a choice to make.  Typically at that level they don't have a full-time marketing manager nor advertising resource...and so they probably need to outsource this work.

For these companies I would suggest finding a resource that can bring both elements ... marketing and advertising to the table.  Generally marketing consultants have an advertising resource that they can bring but I've found that advertising agencies don't necessarily have a marketing connection.  How does your firm operate?