Tuesday, March 5, 2013
Think Before Adopting the Latest Marketing Fad
Marketing is changing so fast, it's easy to get our heads turned by new, high-tech developments. Doesn't my company need a smartphone app? How should we leverage augmented reality? What about gratification?
Before you buy into a new, shiny marketing tool or technique, first make sure it's right for your company. Often your existing ideas, product lines, and channels have more value than you think. Ask yourself these three counter intuitive questions:
Should I do the opposite of what everyone else is doing?
For example, if your competitor is blasting out e-newsletters to their entire database, consider sending simple, personalized notes to your most loyal clients.
What abandoned technique can I bring back?
Sometimes, marketing strategies are dropped for good reason, but other times the reasoning is not that clear. Think about whether there's an old technique that could still be useful.
Can I resurrect a product for an untapped market?
Don't just market to the masses. Sometimes a small, high-end market is willing to pay for a difference in quality (think vinyl records, which were considered dead not long ago).
Sometimes — depending on your industry and target audience — the new, shiny tool or technique is the right way to go. But often, you can get a better result by drawing from your existing resources and simply being strategic about how to communicate in a more memorable way than your competitors.