Sunday, May 1, 2011

Time for a Reality Check

The following exchange is from the classic movie E.T.

Elliot: "He's a man from outer space and we're taking him to his spaceship." Greg: "Well, can't he just beam up?" Elliot: "This is REALITY, Greg."


We all need to deal with reality. And reality is that marketing is not about what we want to sell. It is about what they want to buy. It's easy to ignore reality in the short term. You can simply tell your marketers and sales force "Go make people buy this." But eventually reality will have to be faced. And if you're trying to force your product or service on uncaring prospects, the bill will come due sooner rather than later.

It's economic Darwinism. The companies that listen to their prospects; the companies that take the time to understand what is needed, are ultimately successful. The ones that try to shortcut the process ("I know what the public needs--why should I waste money asking them?") are usually the ultimate losers. I'm not saying that these "I know what they want" companies don't occasionally get lucky, but do you really want your business success to depend on luck?

NOTE: I am not paid by, nor am I a member of, a marketing research firm. But whether you use one, or just do casual interviews yourself, you need to check in with your prospects and customers once in a while. No, make that "all the time." Because keeping in touch with reality is not a one-time or occasional chore--it's something you need to write on your To Do list every day.

We live in a world that is changing and evolving more rapidly than in any time in human history. Technology, events, attitudes, even weather--the landscape is constantly shifting around us. Even if you have been successful at meeting a need for a targeted group, that need is not a constant. It will change--and you'd better be ready to change with it.

So stay in touch. Yes, it is time-consuming. Yes, it is expensive. Yes, it is confusing. But "This is reality, Greg." It is also the simplest way to get and keep a competitive edge. And isn't that what we're all looking for?

Four elements of a good advertisement

An advertisement can be anything, from a one-page flyer to a radio spot to an announcement in your church bulletin to a television commercial. No matter what form your advertisement takes, it will be more successful if it contains these four elements:

1) INTEREST VALUE: A good advertisement can attract attention in an environment in which anywhere from hundreds to thousands of advertisements per day (depending on who’s doing the measuring) are competing for your attention. This is job one, because if people don’t pay attention to your ad, it doesn’t matter what you’re trying to say. Note: the more often your ad will be seen, the more you want to avoid “shock” or surprise tactics that lose their punch after the first viewing. For an ad that will be around a while, it is a good idea to include a number of emotionally satisfying or interesting bits that will continue to draw attention during repeated viewings/hearings. Example: The Progressive Insurance ads with “Flo.”

2) RELEVANCE: A good advertisement offers a meaningful reason to consider and remember the brand. This sounds easier than it is. How many times have you been able to remember an ad, but not what it is advertising? It can be a struggle to reconcile this element with Interest Value, but unless you do, you’re wasting your advertising money.

3) SIMPLICITY OF EXECUTION: Don’t get too cute! Remember, you intimately understand your product and its benefits. The people who will see/hear your ad are starting from scratch, and will be paying limited attention to your message. Don’t expect too much from them! They will remember (at most) one or two simple points. So make those points, then shut up! If you have a lot to tell people, you’re going to have to do it over a series of ads, in person, or via your website. The job of advertising is to tease the prospect into seeking more information (or to sway the informed consumer to select your product over another). If you have to spend too much time explaining your product or its benefits, maybe its not as good as you think it is!

4) BRANDING PROPERTIES: Worst case—the consumer sees your ad, then goes out and buys your competitor’s product. Make sure your commercial clearly associates the product in your ad with your brand and your brand only. Make sure your name is clearly and repeatedly mentioned in your ad. If you have a brand logo, feature it prominently (that’s why logos were invented!). This is not only important for the current product, it also creates synergy in advertising for future products.

If you’re looking for help making your advertising more effective, YOUR CMO can help. Give me a call and we’ll talk about how to make it happen!