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Posts Tagged ‘Marketing 101’

Marketing 101 | Important Components of Successful Marketing

June 9th, 2010

Marketing can be a difficult thing to master, whether for your own company or as an employee or consultant for another company, but that doesn’t mean that it’s impossible. It simply requires that you know what to do and when.

Successful marketing requires a deep understanding of the customer. Who are they? What do they do? Where do they live? Knowing the answers to these questions can help you to not only target and reach them better, but can help you to create a better product in the first place. This “better product” should meet their needs, fulfill their wants, and serve a purpose. That purpose is referred to as “utility”, and that simply means the end use the buyer gets from purchasing your product. This can also relate to a service, but utility will mean something different and is often not used to describe a service.

Marketing also requires that you sell and promote your product/service, but knowing your customer is a step that needs to take place before you can sell or promote. With a product that no one wants or that no one will use, what reason do you have to sell or promote? (Not much…) Do your research and figure out what the customer wants. There are two types of research: Quantitative and Qualitative. The fist type of research measures numbers, figures, occurrences, etc. There is no reasoning applied here, nor are intentions taken into account. The latter type of research, Qualitative, does measure things that cannot necessarily be measured in numbers or occurrences. Qualitative research looks more at “why” something occurs instead of simply that it occurred, as quantitative research analyzes.

From there, there are two methods of research: primary and secondary. As their names suggest, primary research is research conducted by the company/individual for the company/individual’s use, and secondary research is research referenced that was completed by another party. Both types of research are valid and useful. Choosing which one to utilize is simply a matter of preference, cost, and time constraints.

After you’ve conducted your research, whatever that may be and however it was conducted, put together buyer personas. These can greatly increase your chances of targeting the correct buyers/audiences. Make as many as you deem necessary and use these to make your target audiences more tangible and approachable.

This first step in marketing is crucial to the rest of the marketing process’ success. The selling and promotion of products to the wrong market are usually futile efforts, so prepare early and plan to succeed.

Marketing 101 | The Power of Storytelling

June 8th, 2010

As humans, storytelling is a pivotal part of our history; storytelling also plays a large role in the spreading of our ever changing histories. Marketing is all about telling a story and convincing others to believe it.  This belief is crucial to them making the next move of buying into your product or service offering. But how does one create a story that not only is believable but also sells?

It requires first that you have a product or service worth telling a story about, and one such that also demands being shared with others. From there, it requires a good story teller. The best story tellers know that these stories are not lies but rather a story that perhaps bends the truth a bit or exaggerates a feature to help buyers to tell themselves the same story.

Stories in marketing often involve getting others to believe what you tell them your product can do. For example, shoes that can shape your gluteus maximus will sell well to women (or men) who are looking to do more in the small amount of exercise time they have available. It will also help buyers to believe and buy-in to the idea that your back side can look better with little effort.

As a marketing professional, it is your responsibility to tell stories honestly and truthfully. Moreover, your product or service must offer value to buyers, and that value must fall in line with that which you convey in your stories. If they do not, you are misusing the power that you hold as a marketer, and misusing the power that stories hold. Listeners of stories can be brought into the scenarios, internalize any emotions involved, and can often visualize themselves in the situations being presented. As such, it is important that you use storytelling correctly and morally.

There are a few components needed to ensure that your storytelling is successful. They include:

  1. Knowing your audience. Who are your listeners? How do their views on the world change? How does that change the way your product is perceived? Know these things so that you can better tailor your messages and offer them something of value.
  2. Knowing your own story. This is somewhat self explanatory, but know your story. Once you know your story, get it straight by staying consistent.
  3. Staying consistent. To follow off of item #3, consistency can help to reiterate trust and cultivate successful and beneficial relationships between companies and buyers.
  4. Being authentic. Maintain this authenticity; you never know when the customer will start paying attention and it ought to be one of your biggest concerns to ensure that they see you acting authentically. Selling customers on unauthentic tactics is not beneficial for either party involved.

Storytelling can be a powerful technique, but ensure that you do things correctly. Get advice if you need it, and don’t be afraid to ask your customers what they want. They are often more than willing to share their opinions.

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