Reach for the Moon

Your 21-point checklist
1. In the increasing ferocity of global economic competition, marketers must
connect to people to create customers and realise critical business
momentum. Businesses need to develop “tribal intelligence” to generate
new business.
2. Consider moving more resources towards new media, such as internet or
mobile phone advertising that includes a sophisticated, relational apparatus
that provides access, meaning and invitations to people for their
participation.
3. Rather than sell a product or service, sell a solution to a problem or goal.
This requires companies to truly understand what motivates their desired
demographic – their desires, their behaviours, and how best to meaningfully
reach them.
4. Similarly, differentiate your product from the many others like it by selling
on the basis of subtle experiential differences and impressions, rather than
solely on features and functions.
5. Remember that customers are not loyal, particularly when discretionary
income starts to disappear. They will choose the best value and the most
desirable experience. If your product or service provides it, they will buy
from you. If not, they will buy from your competitor.
6. Your marketplace image is created inside your company. Your own people
are your greatest influencers and connectors to the marketplace. The
long-term experience your customers have with your product determines
the brand image they hold. Your customers’ experiences affect your brand
image far more than your marketing message – as does your customer
service, your research and development, your public policy and even your
human resources policies.
7. People trust their peers. So, while advertising certainly enhances visibility,
your highest marketing goal should be to become a positive
recommendation from the trusted peer of your next customer. Listen
carefully.
8. You must include search engine optimisation in your marketing efforts.
Tweak your web initiatives to generate leads by having the proper keywords
promote top placement in online search results.
9. There’s a good chance your competitor’s solution to the economic downshift
is to pull back on marketing and advertising. Take advantage of the lack of
clutter in the marketplace with messaging that will have more impact.
10. Look at marketing strategies that allow buyers to feel that they are
minimising risk. Consumers are looking for reassurance during recessions,
even if the recession has more of psychological toll than actual hardship.
11. Brand equity may be particularly valuable. Well-known brands reduce
uncertainty for customers looking for security.
12. Companies that sell high-ticket discretionary items must understand the
barriers to purchasing, and the buying motivations that are unique in this
economic climate. Brace for a harder time than those businesses that
provide necessary items.
13. Increasingly, many companies now compete on a global scale. In addition to
reaching out to new world markets that may not be suffering through a
slowdown, bear in mind that global competitors also may have an economic
advantage. Choose your new markets wisely.
14. In a declining market, monitor market share, not just sales volume. While
all competitors may lose some sales volume as the market shrinks, those
who can maintain – maybe even increase – market share will emerge in a
stronger position.
15. Know the behaviour of your competitors. Learn what they did in earlier
recessions (such as the 2001 cycle spawned by the stock bubble burst) and
be aware of their financial condition, since heavy debt can limit strategic
options.
16. Think public relations. Good PR is more cost effective than paid advertising.
It may be difficult to get the media’s attention, but once you do, chances
are it’s well worth it.
17. Work out as quickly as you can what aspects of your marketing are working
and then focus on those strategies. The same goes for the company as a
whole. Evaluate what you do best and focus on those few things you do
better than the competition. This is what makes you different from your
competitors, who are likely cutting back marketing budgets and staying
competitive through reduced pricing, which also reduces profits.
18. Customers get pickier in a slower economy. Be the best vendor in your
space and make sure everyone knows about it.
19. At all times, focus on the customer and not the competition. Think like a
customer and understand how they will find you and your brand different
from the others. In a slower economy, make sure customers that continue
to do business with you love it.
20. Find untapped or under-served markets. Just because you have a small slice
of the market doesn’t mean you can’t expand while the overall economy
contracts. If you plan well and execute soundly, you can gain more market
share because your competitors will lose business. Or, you can market your
existing lines to different audiences.
21. Make sure the customer begins to see the value of a purchase as quickly as
possible. The faster the customer figures it out, the faster they can buy
again. People are more cautious and may not appreciate a buy with a
lagging ROI.

This article is supplied to us by our UK Associate TCii Management, London.

The word Marketing is sometimes confused with Sales Management.  The definition of Marketing has been described in many sentences. The one I like most is “Marketing is the Ability to Identify customer needs at a Profit”.
Mike Southon says, “The best, and simplest, definition of marketing I’ve heard comes from the person who taught me much of what I know on the subject, Graham Michelli. “Marketing is happy customers.””  
The aim of Marketing is to have the Right Product or Service in the Right Place at the Right Time for the Right Price.  
To a Professional Marketer, products are not just what they are but what they do. “Selling the Sizzle not the Steak” is a statement that has often been used to describe Marketing.  
It is the marketers aim to create an image of the product that meets the customers needs or wants. In the process of achieving this a marketer must look at all the aspects of the products evolution, the companies structure and the desires of the people within the company to meet the companies overall target.  
Marketing activities are the creative element of business activity. They are the means by which the company’s income is obtained. They are an integral part of the business and should be considered as much a part of the business and included as a part of the cost of supply as the production process itself.  
Without marketing expenditure there would be no sales; production would be unnecessary. Marketing expenditure results in a level of pricing that could not be achieved without marketing techniques.
In Short, without marketing there is no business. 

Marketing Process  

There is a definite process of marketing, it can be categorised in four levels:   ·         Market Research 

·         Market Strategy  
·         Marketing Mix 
·         Evaluation   

The process begins with a Market Research program which will form the basis for a strategy and in turn will involve everyone included in the “Marketing Mix” divisions of the company.
Once all is set in motion and activities are in place, there is a continuing phase of evaluation.
It is then vital to continue this cycle through the course of the Marketing campaign and if necessary fine tuning should be made. This complete process will assist towards a successful campaign.

Why you should use a professional. Using a professional marketer is like using your accountant to help with your accounts and your lawyer to help with your contracts, they are trained to do a specific job.

Marketing is a specialty which unfortunately most SME’s believe they can do themselves, mostly with little success. Why do large corporations have marketing departments, because they know it is a specialized topic of business, so why do SME’s not follow suit. One reason often offered to me is, “It is too expensive”. Well is doing it yourself and failing not expensive? You can employ a full time marketer and get the success, but that could cost you $100,000 p.a. and to recoup that amount could take some time, on the other hand you could employ a Marketer on short burst contracts, to help with specific programs, or to get a product to a specific market or to enter into the export area of business. This would be less expensive and offers you a greater chance of ROI for their services.

A professional marketer will work closer with you on your programs and bring to you the experience of having accomplished similar activities before, where you as an SME could be just testing the water, so to speak. A professional marketer will have created a large range of contacts around the country and even the world, which experience they can draw upon to help your program succeed.

Yes there are people who purport to be professional marketers, but you must find the ones who have been trained in the “School of Hard knocks” in other words, the real world. Have they spent time working on truly marketing areas, not just selling or advertising or research, Have they done all of these things? Who have they done this for? When did they do it? What success have they had?

Before you next enter into a new market or an export marketing activity, give serious thought to using some professional marketing help to ease you into that market with fewer obstacles to overcome. You wouldn’t enter into a contract without having your Lawyer look at it, why enter a new market without a professional Marketer’s advice and support