Everywhere I turn there is a new or better way of marketing… Or is there?
I have some really simple rules for effective marketing.
My Rule Number 1 – Marketing is the language of business and don’t let anyone convince you otherwise.
Your business will have a product or service that it wants to produce and sell to as many customers as possible at the highest price customers will pay while making you and your business as much profit as possible. And here is why it’s rule number 1. It forms the premise and the objective of all your marketing activities. It will relate to new product development, it will relate to pricing, to brand and how you communicate with customers. It will determine investments and advertising and everything you attempt to make your business more successful. It will keep you focused on the end game.
My Rule Number 2 – Never fail the Sample of 1 test.
The sample of 1 is the biggest mistake all would be marketers make. What is the sample of 1 you ask? “I think this is the way it is, so therefore it must be right!” Avoid this trap at all costs. Everyone of your prospective customers is an individual – highly likely to think differently to you. In all your marketing try to ascertain what the majority of your prospective customers think and focus your marketing there. Even if it goes against what you think. Remember, it’s the customer who buys and you want as many of them as possible buying from you.
My Rule Number 3 – Your Marketing Communications is always a ‘mix’
There is no singular magic bullet to communicate, sell or advertise to your prospective customer. The solution will be a mix of options that maximize the reach and frequency of your engagement with your customers. The aim is to get the most sales you can for the budget you can commit. And based on Rule number 1 there is no excuse for not having a budget for your marketing communications!
And my last rule of marketing is – Measure, Measure, Measure…
Don’t let any marketing services provider tell you that any element of marketing can’t be measured. All marketing can be measured. Make sure you have a plan for how you are going to measure the effectiveness of every aspect of your marketing.
These four rules will help you navigate the barrage of claims of new and better ways to market. Here’s how:-
Does it satisfy rule 1. Does the concept or technology being presented to you complement your core business objectives?
Does it satisfy rule 2. Does the concept or technology being presented to you have any validation or a proven track record. Don’t just take the sales pitch, investigate and see what others are saying.
Does it satisfy rule 3. Should the concept or technology being presented to you form part of your mix of marketing tools and will it fit within your budgets.
Does it satisfy rule 4. Can the concept or technology offer measured results against its claims? Or can you satisfy the measurement criteria of rule 4 if you take the concept or technology into your mix?
The real point is that every marketer is always looking to market better. However the premise of marketing has never changed. Don’t be confused by mediums or words like digital or social. Don’t feel threatened by technology or apps. At the end of the day, assess each by how much they will help you sell your product or service to as many customers as possible. All while obtaining the highest price a customer will pay therefore making you the most money and highest profits you can.