Your marketing isn't working, but do you know why? The answer is simple, however it needs some explanation.
Your marketing isn't working because most of the common marketing formulas don't work and business is in a different climate today.
Please re-read that last sentence.
It's a common misconception that 'the formulas don't work because we're in a different climate today.' That joining word 'and' is what is fundamentally wrong and one so easily overlooked.
In this post I'll explain the difference, but first - a story!
I got an eye infection while traveling a couple of years ago and had to go to an urgent care clinic. The doctor there gave me some medication and advised me it would take two days to take effect. I took my pills immediately and waited for the results. My eye began to improve slightly but after a week it was still bothering me, so I went to my optometrist. Naturally I told him about my visit to the doctor so he asked me what I was currently using.
When I replied he chuckled.
He advised me that the medicine I had been given by the urgent care doctor was effective back in the sixties and that the infection I had in my eye was much different than the strain the medicine was designed for. He prescribed me a modern medication that took care of the problem lickety-split!
My eye and your business are both very important to our lives.
Whether you work for a company or own your own business, your marketing, like my eye, has to be effective. Your marketing isn't working but what medicine do you have to fix it? Is it the right one? It's also important to understand why your marketing problems arise in the first place so that it doesn't happen again.
First, understand that the marketing climate has changed. For good.
Effective marketing was based primarily on an old model, that being television, radio and/or print. It used to be that if you had a product or service you simply needed to bring about awareness via one of these methods and people would respond. Your business would make money and the cycle continued.
What has changed is that the advent of the computer and business in the Information Age has become hyper-efficient at littering the landscape with demands for your attention. People in western civilization can see up to 3,000 impressions of advertising a day! People are not watching television, listening to the radio or reading the paper like they used to. When was the last time you looked up a nail salon in that 65-pound yellow book?
Did you Google it on your iPhone?
Out with the old...
While the old model is out the door the terrifying fact is that most businesses and agencies [whom you'd assume would be on top of trends] haven't changed!
People used to actively watch television and sit through the commercials. Nowadays they flip the channels or Tivo their favorite shows and skip past the commercials. Some people fall in love with a show and don't watch it until the DVD series comes out. Young viewers especially have tuned out television or have fine-tuned it to their liking. With thousands of channels available, the internet calling and DVR, advertising just doesn't have the same effect that they used to.
Ever wonder why commercials have gotten so weird? Agencies are desperate to stand out.
Information overload.
The human brain has not adapted as quickly to the rapid advances of technology and advertising in general. While we are an intelligent species in terms of how we use our brain in adapting to our technological advances we have not Darwinized our mental capacity to process the automated opt-in email blasts, five-thousand brands of cereal choices or the headache one gets while walking around Wal-Mart. It's simply too much to process.
The Four P's of Marketing
Marketing is traditionally based on 'The Four P's'. Some people use 'The Seven P's' or add their own but the four core components are there in process for most companies. You can see them working in yours.
PRODUCT
The product is defined as the actual goods or services, and how each relates to the prospects needs or desires.
PRICING
Pricing is established as the cost to the consumer for a product, including discounts.
PROMOTION
Promotion is multi-faceted. It's core components are advertising, sales promotion and publicity. Branding and it's sub-components (promoting the product, brand, or company) are also in effect here.
PLACEMENT
Placement simply means distribution. How does the product get to the customer? The customer [target audience] needs to be defined and demographics need to be understood.
Backwards Marketing
While the Four P's of Marketing have some validity to them, the approach is backwards. They are good tools to support an approach but aren't being used for the right purpose. A sledgehammer held upside down.
Here's the rub...
Marketing used to work DESPITE 'The Four P's' approach being incredibly flawed. The reason it is flawed is that it focuses on a company marketing towards to it's prospective audience, but the audience is busy defending itself. It's like fishing shoulder to shoulder in a shallow pond. Imagine the poor fish swimming away from dozens of hooks.
The true essence of marketing should be the opposite.
Now more than ever we need to market to how the prospect thinks, acts and feels. He or she is bombarded with bulk mail and is wading in a swamp of unwanted e-mail. How do you market to that person?
During the Presidential debates both candidates spoke about the idea of fixing the economy with a scalpel or a hatchet. Marketing today absolutely needs a scalpel and one that needs to be in the hands of the prospect not the other way around. The sooner a business understands that - the better.
Who is fixing your problem?
The first doctor at the urgent care clinic was obviously trained to do general medical practice and hadn't kept up on the latest with optometry. Who could blame him! I learned during that instant to always see a specialist - especially for something as important as your eyesight.
What about your business? Do you see a specialist or go to a general practice? or worse yet do you treat yourself?
