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Market These Four Ways Anytime
When the economy takes a dive
there’s usually a flurry of articles appearing about ‘How to market when
times get tough’. Conversely, when the economy’s upbeat the business
press turns to features about how you can cash in on the latest trends.
But some marketing principles apply anytime and are good to keep in mind
whether times are tough or terrific.
1. Be Where You Want to Be
Whatever you sell is probably available somewhere else. To be the one
that gets the business means setting yourself apart from the others so
you stand out and get the notice you want. It also means being seen to
be preferable as a source of whatever it is you want to sell.
Just as products have their positioning, so do the businesses that sell
them. Your position in the market is something you can – and must,
create and manage just like any other asset. Design it and be there in
every way.
Review your market and see who’s already got a strong positioning. Look
for examples of success and analyze why those businesses are doing well.
Now look for what the best ones aren’t doing that leaves an opening for
you to exploit.
What will appeal to your prospects? Do they want a source that’s
available 24/7? Is service more important than price? Design a
positioning for yourself that’s as close to the ideal as possible but
won’t be confused with others in the marketplace. Even the best of your
competitors makes mistakes so find out what they are and avoid them.
Apply your positioning everywhere – in all your communications,
promotions, and especially wherever your business interacts with
customers. Highlight what makes your business unique and live up to the
promises you make.
2. People Don’t Buy What You’re
Selling
Look at most retail advertisements. They focus on the features of the
products they’re selling – bigger this, more of that. The presumption is
that people make buying decisions on a totally rational basis. But they
don’t.
People buy what a product or service does for them. It’s not a simple or
overly rational decision. They need to satisfy a number of different and
often conflicting needs and many of those are driven by emotions.
The automobile is the classic example. For some people it’s a means to
get from A to B and that’s sufficient. For many more it’s a reflection
of their personality and has to do a lot more than just provide the
function of transport. If two seats are good, are four or five better?
For a family sedan, yes. For a sports car, no.
A plasma screen is a great way to watch TV but is it worth the money?
For many it’s simply too big and too expensive, and for others it’s a
must-have. Size aside, it still fulfils the same basic function as a
much smaller – and cheaper set. But boy are those big screen impressive!
Even though a product’s features are important, all they really do is
provide customers with the benefits they seek. Before you start selling
anything, find out what it is that the customer really wants and show
them how they’ll get it when they buy from you.
3. Keep Customers for a Lifetime
Make your customers a part of the business. Involve them in what it is
that you’re doing to be the best in the business and set out to keep
them for a lifetime. Tell them what you’re trying to achieve and ask
them for their input. We’d all rather buy from friends than just a
business.
The lifetime value of a customer is easy to calculate and worth
remembering every time someone new makes a purchase from you. What if
they bought that same thing every year for the next forty years? Don’t
just think of them as someone to make a sale to now; think of them as a
part of your future.
Make ‘customer-friendliness’ a part of your culture and look for people
who can relate with customers as they would with friends. By all means
systemize your business and have scripts prepared for answering
customers’ questions, but be sure to leave some space for humanized
conversations too.
The last thing you want to be focused on is the sale itself. Pay
attention to the customer and spend the time it takes to know them. If
you’re sincere you’ll be the kind of person they’ve wanted to buy from
but just haven’t found so until now they’ve had to settle for your
competitors.
4. Go One Step Further Every
Time
Think back to the last time you made a major purchase – an appliance or
something else that you don’t buy every week. What are your
recollections about the buying process you went through?
People buy something only after they’ve gone through the process of
weighing up the benefits of having it versus the reasons why they don’t
need it or can defer the purchase. “I want it now” just isn’t always
enough to overcome the expense of luxury goods, yet somehow people still
buy them.
Very often the decider is something as simple as the retailer adding one
more benefit to the purchaser, and this is what anyone selling a product
or service should always keep in mind, good times or bad. Give the
customer one more reason beyond the benefits the product delivers.
This can be a bonus gift – not necessarily an expensive extra but just
something ‘nice’ to have or that provides instant enjoyment, like a DVD
to go with the home theater or a book to go with the reading lamp. It
doesn’t necessarily have to be related to the product but it does have
to appeal to the buyer.
Always go one step further when selling anything. You’ll be more
successful in your selling efforts and you’ll be remembered for
providing a special experience that the others didn’t.
Tough times or boom times, these four principles apply to every
business, regardless of what industry it’s in. Base your marketing on
them with confidence and you’ll be the one that people think of when
they talk about whatever it might be that you sell. You’ll be seen as
the best and after all, isn’t that what you want to be?
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