“Horizontal, vertical or multi - your clients want it. Are you giving it to them?”
Regardless of the type of business you manage, you are already using some form of marketing channel. The question is, “are you doing it as effectively and profitably as possible?”
What is a channel?
In the broadest sense, a marketing channel is a process for making a product or service available to a specific group of potential customers. A channel can be simple or complex. It can be organized in a horizontal, vertical, or a combination. If you are providing your services directly to clients you are operating the simplest, and most common, channel - a direct-marketing channel. You may not feel the need for more ways to reach your clients. But they may need more ways to reach you! The two most common channel arrangements are known as horizontal and vertical.
Horizontal marketing channels
Horizontal channels are formed when two or more unrelated providers put their resources together to capture a market opportunity. An example of horizontal channel marketing is H&R Block offering tax preparation inside department stores such as Sears, Roebuck & Co. Another might be a software developer and an accounting firm teaming up to provide custom products for clients that neither could provide alone.
Vertical marketing channels
Vertical channels exist when members in a marketing channel cooperate to maximize the gain of the entire channel rather than just their portion of it. One H&R Block channel uses offices to extend its customer base at lowered costs. In fact, of Block’s 8,923 offices, 45% were operated by franchisees.
How do you decide on a channel strategy?
You can use as many channels as possible to reach clients. But beware. A trap that many firms fall into is when a firm tries to be, “Everything to Everyone Everywhere.” Don’t try to provide the same level-of-service options through every channel. Instead first assess your client’s needs and adopt only those channels and services that provide value to clients, complement each other, and contribute to profitability. A service firm may develop a channel strategy where one channel is used to deliver the service (in person tax preparation or other services), another channel to dispense general advice and information (on-line contact information, tax organizers, forms, deduction guidelines or product reviews) and yet another to offer customers general and/or specific advice and information (telephone).
The Internet as a Channel
Today innovations in technology and the Internet are allowing large and small businesses to evolve from static “bricks and mortar” operations to dynamic “bricks and clicks” enterprises. One of the most important considerations in utilizing the internet as a key component of a channel strategy is that consumers, empowered by richer and greater amounts of information accessible online, increasingly drive and control the exchange process. This demands greater focus on resources and support for the development of this channel strategy, responding to its more fluid nature
How do you decide which channel is best?
Given the number of marketing channel options, how do you decide which is best for your practice? In Marketing Management, Philip Kotler suggests three channel evaluation criteria.
Economic – Each channel type will produce different sales results for different costs. As a result, some channels will provide a higher return on investment for a low volume of sales and other channels will provide a higher return on investment for a high volume of sales.
Control – With an in-house sales force there is more control over skills, training, and marketing approach than with a contract sales force.
Adaptive – In periods where the marketing environment changes rapidly, marketing channels must be able to adapt equally rapidly to these conditions. Compare the adaptive ability of the content on a web page to that in a brochure.
Conclusion
Marketing channels are an important part of any marketing plan. However, the appropriate channel type and combination of channels for your practice depends on your clients’ needs, your objectives for the channel, and the resources you make available to manage these channels.
Monday, January 16, 2012
Friday, January 6, 2012
Challenging …. a Client
Many of us have experienced a challenging relationship - as client or supplier. I will address the issue from the supplier side but I am sure each of us has experienced both sides of the relationship at one time or another!
We are invited to develop marketing or advertising materials and as such we undertake a thorough and professionals review of the company we are trying to help. We spend time researching products, services, customers, company culture, etc., and we then present creative ideas or marketing programs that respond to the needs identified by the client.
Ultimately the client simply disregards what we have presented and decides arbitrarily how they want to proceed. The client, in their position of authority as the payee on the project decides that they will forge their own creative or the details of the marketing program, regardless of the logic presented.
It happens a great deal and the size of the company or the project has little to do with it. Left brain people tend to be those in charge of companies or organization because of their business acumen and linear reasoning skills. Marketing and advertising tend to use a more creative lateral thinking process and as result make more use of right brain thinking.
Challenging a client to move beyond linear reasoning and understand the need to tap into the emotions of their customers is an important part of the success in a creative project. Convincing clients that they need to look at their products, not from their own needs, but from those of their clients is one of the most difficult demands of a marketing project if it is to be successful. I would take the time here to define success as not just getting paid for the project. Success for marketing or advertising must be defined by the success the client realizes through sales and customer awareness.
If you are defining your success on any project based by getting paid by the client then you are not truly a marketing or advertising professional. You have to be prepared to walk away from a client – to stand behind your convictions, your research and creative intuition, if you and your client are to be successful in any marketing initiative.
Walking away from a client or standing firm on an idea based on sound logic will result in one of two things – losing the client or gaining the trust of the client. Let’s take a quick look at “losing the client”. I would suggest that losing a client who seeks to implement their ideas of marketing on a project, to the detriment of the project are often clients who are more concerned about cost and the certainty of their own perceptions in marketing. Typically the relationship with this kind of client thinking is short and there is little opportunity for a relationship to grow beyond this current project. Often you will spend more time and effort satisfying this kind of thinking with poor results. “Gaining Trust” based on mutual respect has many positive benefits in terms of a longer term relationships, repeat business and the success of the project - not to mention the satisfaction you feel when your ideas prove to make your client more successful.
When is it time to stand up and be counted? Well that all depends on the preparation you have undertaken to ensure that your ideas are sound and the client understands the ideas and the research that supports those ideas. Working with clients that want to work with you based on a mutual respect of roles and knowledge is the key to a successful relationship and a successful project.
We are invited to develop marketing or advertising materials and as such we undertake a thorough and professionals review of the company we are trying to help. We spend time researching products, services, customers, company culture, etc., and we then present creative ideas or marketing programs that respond to the needs identified by the client.
Ultimately the client simply disregards what we have presented and decides arbitrarily how they want to proceed. The client, in their position of authority as the payee on the project decides that they will forge their own creative or the details of the marketing program, regardless of the logic presented.
It happens a great deal and the size of the company or the project has little to do with it. Left brain people tend to be those in charge of companies or organization because of their business acumen and linear reasoning skills. Marketing and advertising tend to use a more creative lateral thinking process and as result make more use of right brain thinking.
Challenging a client to move beyond linear reasoning and understand the need to tap into the emotions of their customers is an important part of the success in a creative project. Convincing clients that they need to look at their products, not from their own needs, but from those of their clients is one of the most difficult demands of a marketing project if it is to be successful. I would take the time here to define success as not just getting paid for the project. Success for marketing or advertising must be defined by the success the client realizes through sales and customer awareness.
If you are defining your success on any project based by getting paid by the client then you are not truly a marketing or advertising professional. You have to be prepared to walk away from a client – to stand behind your convictions, your research and creative intuition, if you and your client are to be successful in any marketing initiative.
Walking away from a client or standing firm on an idea based on sound logic will result in one of two things – losing the client or gaining the trust of the client. Let’s take a quick look at “losing the client”. I would suggest that losing a client who seeks to implement their ideas of marketing on a project, to the detriment of the project are often clients who are more concerned about cost and the certainty of their own perceptions in marketing. Typically the relationship with this kind of client thinking is short and there is little opportunity for a relationship to grow beyond this current project. Often you will spend more time and effort satisfying this kind of thinking with poor results. “Gaining Trust” based on mutual respect has many positive benefits in terms of a longer term relationships, repeat business and the success of the project - not to mention the satisfaction you feel when your ideas prove to make your client more successful.
When is it time to stand up and be counted? Well that all depends on the preparation you have undertaken to ensure that your ideas are sound and the client understands the ideas and the research that supports those ideas. Working with clients that want to work with you based on a mutual respect of roles and knowledge is the key to a successful relationship and a successful project.
Tuesday, November 29, 2011
Why Collaborative E-Learning?
While E-Learning has been around for many years, a new and more sophisticated model is beginning to emerge as the standard for learning and comprehension. The concept adds a sense of community to the learning process where individuals can learn through a shared experience. The technical name is Computer Supported Collaborative Learning (CSCL).
The short description for this evolution in E-Learning is, it allows learning to venture outside of the individuals learning silo as they sit at their computer - and they can take advantage of social media tools to discuss relevant issues with other learners in forums, chat rooms and blogs. It can create a dialogue around learning that simulates the classroom experience without the many distractions and delays. It also helps reinforce comprehension leading to a change in behaviour, a common expected outcome in adult learning.
Most E-Learning in Canada remains antiquated and text based with the occasional use of images to underwhelm us - ultimately leading to an uninspired learning process, similar to written training that would sit on shelves in the past. The promise of a technology that would give learners the power to pursue knowledge and learn at their own pace has gone largely unfulfilled, and all in the name of lower cost. It is important to realize that the cost of developing an immersive E-learning experience is greater at the beginning. We just can’t take an existing curriculum or subject matter and convert it, as is, into E-Learning. E-Learning uses the full spectrum of media and in the case of Collaborative E-Learning, it utilizes social networking. This demands a more media savvy approach to developing collaborative E-Learning. Subject matter experts must undertake due diligence in developing the basic knowledge that will be presented in the E-Learning program but it is in the domain of the E-Learning content developer to synthesize that knowledge into a more immersive learning experience that is consistent with expected learning outcomes.
Our experience suggests that this can often lead to misunderstandings at the outset of E-Learning projects as subject matter experts seek to main control and authority over the content development process. Their experience in text and classroom based learning offers them a skewed understanding of what the final product might “look and feel” like. As a result it is important to “focus on content rather than the wrapper” in developing an E-Learning project to ensure that once the content is developed it will serve as a knowledge base and a learning experience that can be built upon rather than discarded as pedantic and boring.
This is where collaborative E-learning so comes in - it means really two things, first it suggests that we collaborate as learners with other learners in the pursuit of knowledge and secondly it creates a scenario where the learning content, once developed need not be re-developed by other organizations since the cost of developing sound content in a well thought out curriculum can be utilized and updated in perpetuity or shared with other organizations. Often times, sharing content with other organizations allows the original developer an opportunity to recover the costs of the more costly initial curriculum development and it allows the organization seeking to utilize the shared knowledge an opportunity to access the content at a significantly reduced cost.
In the end it simply means that an organization that has spent the time, effort and cost in developing a truly effective Collaborative E-learning module can recoup costs by sharing the content in a collaborative process. This coupled with the unique learning outcomes resulting from a truly CSCL approach can make Collaborative E-Learning more effective than classroom learning from a cost point of view and from a knowledge retention point of view.
The short description for this evolution in E-Learning is, it allows learning to venture outside of the individuals learning silo as they sit at their computer - and they can take advantage of social media tools to discuss relevant issues with other learners in forums, chat rooms and blogs. It can create a dialogue around learning that simulates the classroom experience without the many distractions and delays. It also helps reinforce comprehension leading to a change in behaviour, a common expected outcome in adult learning.
Most E-Learning in Canada remains antiquated and text based with the occasional use of images to underwhelm us - ultimately leading to an uninspired learning process, similar to written training that would sit on shelves in the past. The promise of a technology that would give learners the power to pursue knowledge and learn at their own pace has gone largely unfulfilled, and all in the name of lower cost. It is important to realize that the cost of developing an immersive E-learning experience is greater at the beginning. We just can’t take an existing curriculum or subject matter and convert it, as is, into E-Learning. E-Learning uses the full spectrum of media and in the case of Collaborative E-Learning, it utilizes social networking. This demands a more media savvy approach to developing collaborative E-Learning. Subject matter experts must undertake due diligence in developing the basic knowledge that will be presented in the E-Learning program but it is in the domain of the E-Learning content developer to synthesize that knowledge into a more immersive learning experience that is consistent with expected learning outcomes.
Our experience suggests that this can often lead to misunderstandings at the outset of E-Learning projects as subject matter experts seek to main control and authority over the content development process. Their experience in text and classroom based learning offers them a skewed understanding of what the final product might “look and feel” like. As a result it is important to “focus on content rather than the wrapper” in developing an E-Learning project to ensure that once the content is developed it will serve as a knowledge base and a learning experience that can be built upon rather than discarded as pedantic and boring.
This is where collaborative E-learning so comes in - it means really two things, first it suggests that we collaborate as learners with other learners in the pursuit of knowledge and secondly it creates a scenario where the learning content, once developed need not be re-developed by other organizations since the cost of developing sound content in a well thought out curriculum can be utilized and updated in perpetuity or shared with other organizations. Often times, sharing content with other organizations allows the original developer an opportunity to recover the costs of the more costly initial curriculum development and it allows the organization seeking to utilize the shared knowledge an opportunity to access the content at a significantly reduced cost.
In the end it simply means that an organization that has spent the time, effort and cost in developing a truly effective Collaborative E-learning module can recoup costs by sharing the content in a collaborative process. This coupled with the unique learning outcomes resulting from a truly CSCL approach can make Collaborative E-Learning more effective than classroom learning from a cost point of view and from a knowledge retention point of view.
Tuesday, November 22, 2011
Barriers to Collaborative E-Learning
Collaborative E-Learning - it’s not a new concept, just one that has never been utilized effectively in the “Canadian” learning experience. Ycommunicate has worked with many government organizations across Canada developing a broad spectrum of unique healthcare related E-Learning projects and one theme seems come up continually when we answer questions, explain our development process or respond to RFPs. The focus is always on cost and technology.
Surprisingly, behavioral change or comprehension is generally not evaluated in the process of determining value in a collaborative E-Learning or any E-Learning project. As recently noted in a Higher Education Strategy Associates’ 2011 report, The State of E-Learning in Canadian Universities, “In Canada, universities have been implementing e-learning and purchasing virtual learning environment platforms such as Blackboard and Desire2Learn and so on. However in comparison to the United States, there has been less focus on cost-savings and almost no focus at all on outcomes.”
I guess I’m bias in many ways on this topic, in that we have focused a great deal of effort on developing E-Learning modules that are media rich and create an immersive e-learning experience. The objectives for E-learning are to inform and facilitate the retention of information and/or to change behaviour. Given that this is the most important outcome for any E-Learning module it is hard to understand how organizations can continue to focus solely on technical specifications or budgetary issues. I will try and address both of these issues individually.
Let’s tackle the technology issue first – most organizations, when deploying any communications technology must first prostrate themselves before the alter of the IT department, the guardians or technology and secure confidential communications. Often times as part of their mandate, the IT Department wants to manage, advise and otherwise control any technology process. Their first choice is often to buy a product and install it so that it can be managed. E-Learning product manufactures are only too happy to accommodate by bombarding organizations with many such products and reaping the long terms rewards in renewable licensing and product support. Given the fact that most administrators within organizations are not technical experts, they rely on the IT department to guide them through this decisions making process. The reality of the technology dilemma is that there is no need to purchase and install “an E-Learning product” as there are many solutions available now that are web based and offer easy management by organization of shared individual and group participation. For example ycommunicate has deployed an E-Learning environment for dozens of organizations and thousands of unique learners that has run without so much as one hour of down time in over 8 years and the best part is that no IT department is involved. The truth is that technology has not been a barrier in terms of cost or technology for the past 6 – 8 years as a result of a relatively mature technology, yet the focus remains on the technology rather than the results for E-Learning.
The second issue relates to the first in many ways. The very fact that the IT department is involved complicates the decisions making process and ultimately the time, effort and cost of implementing E-Learning. E-Learning also cuts across many disciplines within any organization and as such demands careful attention to detail and participation by many levels of an organization to ensure the efficacy of the content and this tends to drive up costs from both an internal and external perspective
While cost is always an important issue relating to any project, it is our thought that the cost of a project be linked directly to the goals of the E-Learning. Of course if the goals include behavioral change or demonstrated understanding of the content than it makes sense that budgets must reflect that. Defining a budget because that is what we have available” does not necessarily result in achieving your learning goals. Sometimes it is just better to wait and ensure that the project is designed to achieve your goals against measured learning outcomes.
Our E-Learning approach has always tried to consider, technology, cost and perhaps most importantly the collaborative nature of the experience. This is not a new approach - but perhaps it’s new to the marketplace. We call our approach Collaborative E-Learning. The term has been around and called Computer Supported Collaborative Learning (CSCL)for a few years but we first launched approach to E-Learning back in 2003.
In my next blog I will expand on out take on CSCL!
Surprisingly, behavioral change or comprehension is generally not evaluated in the process of determining value in a collaborative E-Learning or any E-Learning project. As recently noted in a Higher Education Strategy Associates’ 2011 report, The State of E-Learning in Canadian Universities, “In Canada, universities have been implementing e-learning and purchasing virtual learning environment platforms such as Blackboard and Desire2Learn and so on. However in comparison to the United States, there has been less focus on cost-savings and almost no focus at all on outcomes.”
I guess I’m bias in many ways on this topic, in that we have focused a great deal of effort on developing E-Learning modules that are media rich and create an immersive e-learning experience. The objectives for E-learning are to inform and facilitate the retention of information and/or to change behaviour. Given that this is the most important outcome for any E-Learning module it is hard to understand how organizations can continue to focus solely on technical specifications or budgetary issues. I will try and address both of these issues individually.
Let’s tackle the technology issue first – most organizations, when deploying any communications technology must first prostrate themselves before the alter of the IT department, the guardians or technology and secure confidential communications. Often times as part of their mandate, the IT Department wants to manage, advise and otherwise control any technology process. Their first choice is often to buy a product and install it so that it can be managed. E-Learning product manufactures are only too happy to accommodate by bombarding organizations with many such products and reaping the long terms rewards in renewable licensing and product support. Given the fact that most administrators within organizations are not technical experts, they rely on the IT department to guide them through this decisions making process. The reality of the technology dilemma is that there is no need to purchase and install “an E-Learning product” as there are many solutions available now that are web based and offer easy management by organization of shared individual and group participation. For example ycommunicate has deployed an E-Learning environment for dozens of organizations and thousands of unique learners that has run without so much as one hour of down time in over 8 years and the best part is that no IT department is involved. The truth is that technology has not been a barrier in terms of cost or technology for the past 6 – 8 years as a result of a relatively mature technology, yet the focus remains on the technology rather than the results for E-Learning.
The second issue relates to the first in many ways. The very fact that the IT department is involved complicates the decisions making process and ultimately the time, effort and cost of implementing E-Learning. E-Learning also cuts across many disciplines within any organization and as such demands careful attention to detail and participation by many levels of an organization to ensure the efficacy of the content and this tends to drive up costs from both an internal and external perspective
While cost is always an important issue relating to any project, it is our thought that the cost of a project be linked directly to the goals of the E-Learning. Of course if the goals include behavioral change or demonstrated understanding of the content than it makes sense that budgets must reflect that. Defining a budget because that is what we have available” does not necessarily result in achieving your learning goals. Sometimes it is just better to wait and ensure that the project is designed to achieve your goals against measured learning outcomes.
Our E-Learning approach has always tried to consider, technology, cost and perhaps most importantly the collaborative nature of the experience. This is not a new approach - but perhaps it’s new to the marketplace. We call our approach Collaborative E-Learning. The term has been around and called Computer Supported Collaborative Learning (CSCL)for a few years but we first launched approach to E-Learning back in 2003.
In my next blog I will expand on out take on CSCL!
Friday, October 28, 2011
Advertising Stories
Every once in a while I realize that not everybody has had the opportunity to experience the many marketing situations I have been fortunate enough to encounter and in this case I have a relevant story to complement my last two blogs.
In the mid 80’s I was Senior Marketing Specialist for Consumer Distributing (some of you may remember it fondly – or not) and I had the occasion to be involved in the process of selecting an advertising firm to represent us in our national advertising campaign. Back then, we had one of the largest seasonal television advertising campaigns in Canada after companies like Ford or McDonalds’s. We produced over 5 million catalogues each year with more than 5,000 SKUs. The reason I am relating this story is to illustrate that measurement and demographics have a place in guiding the advertising decisions but often final decisions are made based on an emotional reaction to a clever creative concept.
Creativity in advertising is largely under-appreciated and misunderstood. Companies and business owners often design their own advertising using designers & graphic artists, etc. but the process of developing unique powerful advertising that can change a person’s buying habits is complex and emotional at its heart. Never mind, the idea that you might be producing an advertising campaign for and audience that you do not relate to through age or preferences.
The competing advertising firms as I recall were Foster Advertising and Prizm Advertising and two others. The contract was worth millions to the eventual winner so the stakes were high. The process took several weeks and each firm had more than one meeting to present its creative concepts and supporting research. In fact the process was so onerous that the advertising firms were allowed to charge for the development of their campaigns. Each firm brought in its research in a printed tomb of several hundred pages chronicling the buying habits of Consumer Distributing customers.
The winning concept, You Work Hard For Your Money, based on a song and a concept that had resonance with Consumer’s customers had more going for it than a good creative concept. The concept of psychographic research was introduced by the winning advertising firm while the other firms used demographic research to support their creative concepts. The difference between the two was that psychographic research contained an additional dimension of research into the emotional profile of consumers.
The point of all this is that a good creative concept was well supported by unique research on the emotional profile of Consumer Distributing customers. The creative idea was good because it was based on an in-depth understanding of its customers.
In the mid 80’s I was Senior Marketing Specialist for Consumer Distributing (some of you may remember it fondly – or not) and I had the occasion to be involved in the process of selecting an advertising firm to represent us in our national advertising campaign. Back then, we had one of the largest seasonal television advertising campaigns in Canada after companies like Ford or McDonalds’s. We produced over 5 million catalogues each year with more than 5,000 SKUs. The reason I am relating this story is to illustrate that measurement and demographics have a place in guiding the advertising decisions but often final decisions are made based on an emotional reaction to a clever creative concept.
Creativity in advertising is largely under-appreciated and misunderstood. Companies and business owners often design their own advertising using designers & graphic artists, etc. but the process of developing unique powerful advertising that can change a person’s buying habits is complex and emotional at its heart. Never mind, the idea that you might be producing an advertising campaign for and audience that you do not relate to through age or preferences.
The competing advertising firms as I recall were Foster Advertising and Prizm Advertising and two others. The contract was worth millions to the eventual winner so the stakes were high. The process took several weeks and each firm had more than one meeting to present its creative concepts and supporting research. In fact the process was so onerous that the advertising firms were allowed to charge for the development of their campaigns. Each firm brought in its research in a printed tomb of several hundred pages chronicling the buying habits of Consumer Distributing customers.
The winning concept, You Work Hard For Your Money, based on a song and a concept that had resonance with Consumer’s customers had more going for it than a good creative concept. The concept of psychographic research was introduced by the winning advertising firm while the other firms used demographic research to support their creative concepts. The difference between the two was that psychographic research contained an additional dimension of research into the emotional profile of consumers.
The point of all this is that a good creative concept was well supported by unique research on the emotional profile of Consumer Distributing customers. The creative idea was good because it was based on an in-depth understanding of its customers.
Wednesday, October 26, 2011
Failure To Launch: Part Two
I have expanded on the four rules guiding the decisions around the advertising process. If you work your way through this process using these basic principles you will have a much better idea on which medium(s) to use and the kind of message that will resonate with your audience.
Understand The People Who Buy Your Products or Services: To help you make the right decisions you need to understand people who buy your products, note that I used the term “people” … not clients, customers or consumers…but people! Understanding what people want, how they will use your product, what is motivating their buying decisions, how external market forces are affecting them, can help frame your advertising decisions.
Develop Clever Product Incentives: Look at the features and benefits in your products and match those against why your clients are buying your products and how they use them to develop some sales incentives. These can take the form of cost reductions on volume, additional features added at the regular price, packaging the product with another to create value. Using a unique and surprising message to deliver the news about your incentives can enhance the response of people who buy your products.
Recognize Strengths and Weaknesses: this process is often called a SWAT analysis but a simplified version is to simply recognize what the level of help you need and what you can contribute effectively. Delegating advertising decisions, allows companies to improve the quality of decision making as it relates to advertising. Leaders can sometimes be too close to a process and rely on statistics rather than a deeper understanding of the buying decision - as an emotionally driven process.
Multi-Channel Advertising program: Using a variety of mediums to reach the people who buy your products or services is important. While there may be a core advertising strategy; say like using web based marketing through e-mails, banners, social networks etc.; this should be complemented by a broader initiative that includes some of the more traditional methods of advertising. Repetition creates greater awareness and results in better sales.
The effectiveness of advertising is often defined by its emotional impact on audiences. The steps I have outlined, offer a means by which you can set a frame work for developing an effective advertising campaign but keep in mind that an advertising campaign’s success is most often defined by the budget you allocate to a campaign.
Understand The People Who Buy Your Products or Services: To help you make the right decisions you need to understand people who buy your products, note that I used the term “people” … not clients, customers or consumers…but people! Understanding what people want, how they will use your product, what is motivating their buying decisions, how external market forces are affecting them, can help frame your advertising decisions.
Develop Clever Product Incentives: Look at the features and benefits in your products and match those against why your clients are buying your products and how they use them to develop some sales incentives. These can take the form of cost reductions on volume, additional features added at the regular price, packaging the product with another to create value. Using a unique and surprising message to deliver the news about your incentives can enhance the response of people who buy your products.
Recognize Strengths and Weaknesses: this process is often called a SWAT analysis but a simplified version is to simply recognize what the level of help you need and what you can contribute effectively. Delegating advertising decisions, allows companies to improve the quality of decision making as it relates to advertising. Leaders can sometimes be too close to a process and rely on statistics rather than a deeper understanding of the buying decision - as an emotionally driven process.
Multi-Channel Advertising program: Using a variety of mediums to reach the people who buy your products or services is important. While there may be a core advertising strategy; say like using web based marketing through e-mails, banners, social networks etc.; this should be complemented by a broader initiative that includes some of the more traditional methods of advertising. Repetition creates greater awareness and results in better sales.
The effectiveness of advertising is often defined by its emotional impact on audiences. The steps I have outlined, offer a means by which you can set a frame work for developing an effective advertising campaign but keep in mind that an advertising campaign’s success is most often defined by the budget you allocate to a campaign.
Friday, October 21, 2011
Failure To Launch: Part One
In recent years I have encountered one marketing issue that seems to be pervasive among all types and sizes of businesses and organizations. They seem to possess all the basic elements to achieve success, including passion about their product, good understanding of sales, product selection, good customer service, a professional attitude and good marketing tools to name a few; but the road ends there …the final leg; advertising is often missing in a long term strategic plan. No money has been allocated to reach out to potential customers through an organized process.
I must admit I am not sure why; smart, knowledgeable business leaders seem to drop the ball when it comes to bringing the process full circle. Marketing and advertising is costly , often equaling the total cash outlay leading up to the launch of the company or product, but any business plan must include a means of reaching out to potential customers … and for some unforeseen reason this final step is consistently undervalued, regardless of the logic in taking that step.
Options for advertising can be bewildering. Some clients misunderstand the advertising process and as a result they put in place a sales force in an attempt to reach out; others are overwhelmed by the advertising options or they feel the volume of marketing materials make up for the lack of advertising, and some just can’t seem to get past the cost. Now…I am not advocating a foray into advertising at any cost ….but I am suggesting a consistent, customized and well researched marketing and advertising initiative is paramount to your business’s success.
The scope and customized approach of a well thought out advertising program based on a reasonable budget can have a dramatic impact on your business, but it’s not a quick fix. In my opinion there are four basic rules guiding the process:
1. Understand the people who buy your products and why they buy them
2. Develop incentives to enhance the benefits of your product
3. Recognize your strengths and weaknesses in contributing to the process
4. Design and advertising program that uses a variety of mediums, both traditional and new media
When you are launching a new marketing initiative for a product, a service or a location, allocating a budget for advertising will factor into the success of your initiative. Stay tuned for part two of this article where I offer some concrete suggestions and steps you can take to effectively complement your marketing plan with sound advertising decisions.
I must admit I am not sure why; smart, knowledgeable business leaders seem to drop the ball when it comes to bringing the process full circle. Marketing and advertising is costly , often equaling the total cash outlay leading up to the launch of the company or product, but any business plan must include a means of reaching out to potential customers … and for some unforeseen reason this final step is consistently undervalued, regardless of the logic in taking that step.
Options for advertising can be bewildering. Some clients misunderstand the advertising process and as a result they put in place a sales force in an attempt to reach out; others are overwhelmed by the advertising options or they feel the volume of marketing materials make up for the lack of advertising, and some just can’t seem to get past the cost. Now…I am not advocating a foray into advertising at any cost ….but I am suggesting a consistent, customized and well researched marketing and advertising initiative is paramount to your business’s success.
The scope and customized approach of a well thought out advertising program based on a reasonable budget can have a dramatic impact on your business, but it’s not a quick fix. In my opinion there are four basic rules guiding the process:
1. Understand the people who buy your products and why they buy them
2. Develop incentives to enhance the benefits of your product
3. Recognize your strengths and weaknesses in contributing to the process
4. Design and advertising program that uses a variety of mediums, both traditional and new media
When you are launching a new marketing initiative for a product, a service or a location, allocating a budget for advertising will factor into the success of your initiative. Stay tuned for part two of this article where I offer some concrete suggestions and steps you can take to effectively complement your marketing plan with sound advertising decisions.
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