Happy Holidays

Wishing everyone the very best no matter what it is you are celebrating. Happy Holidays to everyone. Here’s to hoping for a better 2009.

Advertisements

Shouting is not marketing

We’ve all seen it…splashy adds in the paper, neon starburst signs in store windows touting huge discounts, flashy spam email offering bargain prices on printer cartridges, some guy on tv yelling at the screen that you just have to try Shamwow! And some people actually call this marketing or maybe advertising. Most of us simply call it annoying.

Let’s be clear, this is not marketing. So what is marketing? According to the American Marketing Association (AMA) “Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” That definition works, but I personally like how Allen Weiss at Marketing Profs defines it, “Marketing is, in fact, the analysis of customers, competitors, and a company, combining this understanding into an overall understanding of what segments exist, deciding on targeting the most profitable segments, positioning your products, and then doing what’s necessary to deliver on that positioning.”

The key really is finding the most desirable segments of the your market and positioning your product or service in a way that that segment finds appealing. Making pretty brochures and websites is fun, but ultimately its about revenue and profit.

Marketing Key #12 of 13

Marketing Key #12 – Your customer is buying a promise.

Remember, your customers are buying a promise from you. Especially your new customers.

Your returning customers have their past experiences with you so assuming they were positive, these customers have a reasonable expectation that you will deliver your service as promised. But new customers have to rely on word-of-mouth, research, and the faith that you will deliver. There is no product that they can look at, touch, or try out. They simply are agreeing to let you perform your service and also agreeing to pay for it based on the fact that you are promising to deliver.

Do everything you can to make sure your customers view you and your company as someone that can be trusted. This might include certifications, references, testimonials, press coverage, blogging, guarantees, etc.

Your customers are buying a promise and trusting you with their money. Be cognizant of this in everything that you do.