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Getting the Most of Your Marketing
At last week's marketing seminar, facilitator David Buchholz helped event-goers understand that marketing and advertising are two distinct parts of business. Marketing involves building your brand, identifying your customer base, honing in on their needs and showing how you meet those needs in a unique or superior way. Advertising is how you reach out to that specific demographic to build your brand and spread that message. So what is your brand? More than a logo, David says a brand is a promise fulfilled. Your brand is what customers come to expect from your relationship with them. So, when you promote your business, it is important to share who you are now and not who you want to be. Taking control of your branding is crucial because if you don't actively define yourself, your customers or competition will do it for you. A few interesting points David encouraged us to consider include: Competition. Your competition may not be a direct competitor. Your customers could choose to spend their time and/or money on a product or service unrelated to your offering. Perception. The truth is irrelevant. What people think is true is what matters. Selling vs. Marketing. Selling concentrates on the seller: Getting rid of what I have by getting you to buy. Marketing concentrates on the customer: you help a customer solve a problem by offering what s/he needs. Facts vs. Stories. People understand facts but respond to stories. Have employees and customers tell why they are passionate about what you have to offer. Price vs. Value. Small businesses cannot be price driven, but you must provide the story that explains your price. Don't take for granted the aspects of your business that may be of interest to your customers. Small businesses are better able to be nimble, flexible and responsive. Small businesses should never discount their core products and should not run promotions (discounts), but should consider offering rewards (gifts). Examples of value-added extras might be an extended warranty or free inspection with purchase. Overall, David encourages small business owners to remember who there are in business to serve: their customers, not themselves. In business, you will have a few who know you intimately and are uber-loyal. There will be a few that are never going to like you. Most folks fall in the middle, and those are the ones that need to hear your message consistently. When it comes to customer service, David says, "Think about what ticks you off about other businesses and don't do that." And remember, your opportunity to prove your brand comes when a customer has a problem. Never tell a customer, "What you have to do is..." A customer never has to do anything...including support your business. Next week, I'll share some of David's advertising tips. | 
