When the recent Bureau of Labor Statistics report came out – the results painted what appears to be businesses still struggling to achieve necessary profits to increase their work force and spend on employee development.
Now – I’m not going to debate public policy or discuss anything politically related to the economy. I am, however, when talking about the economy, going to debate that some % of our economic woes are related to bad marketing.
I still scratch my head when I watch the Honey Bunches of Oats commercial – I had to watch it a few times to understand what they were getting at. If you don’t see the message they are trying to convey right away – it’s bad marketing.
Your marketing should be as single focused, targeted, and simple to get as possible. My point – too many marketing campaigns make you figure out what they are trying to tell you. Now, I’m not saying you have to dumb it down for people to understand; though with so many stimuli in today’s world, you do need to make your messaging clear, concise, and grab their attention.
Who has time to read a 7 paragraph email – one that includes the discount and offer in paragraph 6 when you have 42 other emails to read? Who has time to hear how great your product is on Twitter or Facebook showing no direct value to me personally? And who is going to focus on a commercial that makes someone scratch their head and say “huh” – particularly in the age of the DVR?
Consumers today don’t. And they won’t. The secret is to make it about them – make it simple, unique, and concise!
So want to contribute to job growth and stimulate the economy? Follow these steps to attracting and engaging an audience and improving your profits and expanding your organization:
1. Invest in marketing. All too many times marketing is at the bottom of the budget and priority list. Organizations ask themselves ‘why marketing?’ Big mistake. I am not saying you have to invest gobs of money into it. But marketing is a key factor into your success. Marketing helps shape your brand, your messaging, and your strategy. Without those 3 factors, your business development is all over the map and unlikely to help you hit your goals.
2. Create a one-on-one connection with your customers. Track and monitor what your customers buy and how often and ask them for feedback on purchases. Track that feedback, too. This tracking will help you because there may be changes you can make to your product or service that will make it more marketable. If you see a large number of people giving the same feedback – there are likely many, many more out there who would buy your product or service if you made those changes. Plus it creates happy customers. Happy customers talk nicely about you and refer you to others. But you have to elicit that feedback.
3. Know your target market. When you’re tracking what your customers buy and how often – collect data on them so you can determine who is most likely to buy your product or service. Once you know who is most likely to buy your product or service – target them in your marketing! The strategy of “throw the pasta against the wall and see what sticks” is about as old fashioned as a cordless phone. Successful marketing is not a one size fits all approach.
4. Six degrees of separation. You ever play the game telephone as a kid? When you played it – did you ever notice the message changed and was completely different by the time it made it to the last person? Well – unhappy customers saying unhappy things about you does the same thing. By knowing your target market and creating that one-on-one connection with them – you’ve basically been brought into their inner circle. For every customer – there are potentially 6 other prospects for you. So try and make your customers happy.
There is money to be spent in today’s economy – so stop being shy in spending it – spend wisely. Know your customers’ needs and wants and learn how to best communicate with them. The results of your well spent marketing dollars could mean more happy customers and more revenue. More revenue means you’re able to invest into your workforce which leads to business growth, job creation, and a contribution to stimulating the economy.
If you agree – tweet this blog or post it on Facebook using the buttons below. If you don’t, let us know your thoughts and recommendations? And if you need help with trying to improve your organization’s economy – contact us.