The problem with marketing, and the way advertising agencies influence businesses to promote their products and services, is ad campaigns are based on an outdated model that is not and cannot be effective in today's world.
It would seem to make sense that as the nature of business has evolved over the past fifty years, so would the way advertising agencies help companies market their products or services. They're supposed to be the experts, right?
Advertising agencies and most marketers mistakenly assume that when you talk about marketing, you're talking about tactical methods - designing ads, placing ads, generating leads, sending out mailers, creating brochures, etc. They fail to recognize that the most important part of marketing is the strategic plan - what you say, how you say it and to whom you say it.
The objectives of marketing a product or service are three-fold:
1. Capture the attention of the target market
2. Inspire the prospect's information gathering and
___decision-making process
3. Lower the risk of taking the next step in the sales cycle
When 30-second television advertisements were introduced to the world in the 1950s, marketing changed from being highly informative and educational to "quick hits" and "creative". Eventually all advertisers adopted the philosophy that a business need only develop "awareness" in hopes that someday their target audience would consider purchasing their product or service. But with such limited time to explain why the buyer should choose their business over the competition, advertisers were forced to use the same messages to compete.
In today's marketplace, only the richest of businesses (pharmaceutical, beverage, fast food, etc.) can utilize this kind of strategy because they are the only companies that can afford to place their media with enough frequency to make an impact. Ninety-five percent of businesses need to find a way to impact their target market with their message - make them want to pick up the phone, visit their website or drive to their store immediately - not just if or when they finally have a need. Using the 1950s advertising agency approach, all these businesses can do is hope and pray that their target audience has developed enough "awareness" for their product or service that they remember the phone number, email address or store location when a need arises.
Advertising agencies focus on developing "out-of-the-box" creative designed to make the advertiser stand out. Then they use clichés (best customer service, low prices, largest selection, etc.) in the copy that make the advertiser blend in. Effective marketing interrupts, engages, educates and offers a low-risk next step to inspire the prospect to take immediate action. Nobody wants to spend more money than they have to or buy an inferior product. People do pay attention when offered information on how to be smarter (that's why you're reading this, isn't it?). Effective marketing does more than just "build awareness". It must be strategic AND tactical.
At Maverick Marketing & Media, we call this philosophy the "Uncommon Sense" approach to marketing. We specialize in developing and implementing marketing and media plans that drive new business to our clients while efficiently utilizing marketing budgets. Our goal is to grow with our clients. Give us a call to learn more about our "Uncommon Sense" approach and how your business can maximize its marketing dollars and increase profitability!
Portions of this text were borrowed from Monopolize Your Marketplace by Richard Harshaw.
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