Marketing Matters

Each week on Friday, the Beat will publish this marketing informational newsletter by Sabrina Pack of SkyWest Media and Silver City Radio.

marketing matters header 5 10 18Did you know that the Pareto Principle, also known as the 80/20 Rule, states that roughly 80% of a firm’s revenue comes from 20% of its customers. When considering the magnitude of this statement, then it should highlight to managers the value of their core customers and importance of brand loyalty. Keeping those customers happy and engaged with your brand is critical to your success. This is especially true for small markets, because we do have a limited population base, meaning more than ever those primary customers are so very important to our continued success.

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If you watch t.v., listen to the radio, read the papers, you may have noticed the many different marketing strategies to try to convince you of something. There is a wide array of strategies in “play,” especially during political season. Many of the political marketing strategies have foundations in regular product and services marketing and also marketers learn from political advertising and apply the successful concepts to everyday marketing matters.

There is a primary question you need to ask what is your marketing/advertising objective as that will become your voice. Then you need to stay true to that voice through your campaign. There are a variety of approaches to meeting this objective such as ads that raise awareness, create attention, arouse interest, stimulate desire, “pull on heart strings,” … Whatever the objective, the goal is to call to action—go out and vote / buy the product or service using one of these approaches.

Decide on what will be included in the approach, such as:
• Advocacy advertising – where you express your views on controversial issues or whether you respond to attack ads
• Comparative advertising-where you compare two or more specifically named product/people and focus on one or two attributes/focuses to promote
• Competitive advertising-where you influence demand for a specific persons/product

Remember the AIDA marketing concept—you have to accomplish all of these to achieve the action—vote/buy. This applies to political advertising, just as it does product/services advertising:

• A=Attention: If you want to stand out, create attention—find something that makes you stand out from the clutter for the RIGHT reasons and hold that voice consistently, over and over and over, across every aspect of your marketing platform (print, broadcast, social).

• I=Interest: Educate the market as to why they should be interested in the person or product. Each person and product is different, each political race is different, but focus on how to create an interest in your race or product over others…pull on “heart strings”, stimulate desire, be a solution not part of a bigger problem, help to define why it is important right now, right here!

• D=Desire: Structure your messages to create desire for change or to satisfy a need or want. Create passion, show passion, show quality of character or product/service. Define yourself as you would want others to define you and if you are really good at this, your actions will be your voice and define you without having to say you are the best. This is accomplished through educating, informing, generating awareness of issues or products/services. If you probably match these to the consumer (voter), then you will prosper desire.

• A=Action: Create your message to ask for the vote, go to the store, create urgency…If you have been successful at the first three concepts of AIDA, then action will happen when you inform the potential voter or consumer that the time to act is now…voting day….sale day… customer appreciation day… etc.

Comment on negative ads: There is a lot of controversy in the marketing community over negative advertising and whether it is effective at bringing awareness to a race and supporting a particular candidate or whether it can “back-fire” and actually hurt the candidate that it supposed to be helping. Personally, I feel positive advertising is more effective and there is a way not to be negative and still be able to create awareness of differing, controversial views. My vote is to have a strong, true voice, and share what you have to offer in a positive way.

Read next week for more insights by Sabrina Pack-Professional Marketing Consultant. If you have a topic you would like to know more about. Contact me and I will consider it for a topic discussion.marketing matters footer

marketing matters header radioDid you know that many different studies show that 90% of Americans, age 12 and older, tune in at least once a week to radio? In addition, those listeners on average listen to radio 13 hours a week, according to research giant, Nielsen. That is a powerful statistic. Even though digital strategies are on the rise, the power of radio is phenomenal. It is proven that radio is significantly instrumental in driving search. In today’s digital world, according to Forrester Research data, 71% of consumers start their search for a new product/service through internet search. This search can be directed by use of radio advertising. Radio is also one of the most cost-effective ways to reach a targeted audience…and equally important, you have the power of “sound” to sell your message, meaning radio gives you the power to put a voice with a brand.

marketing matters header for 4 13 18 totgmarketing matters totg photoApril 18-22 Tour of the Gila is hosted in Silver City. Are you ready? As a business, this is a huge opportunity, as are many events, to capitalize on these tourists/visitors. This will be the 32nd year for this annual event that is considered one of the top three cycling events in ALL of North America…and it is right here in our hometown. On top of that, with new race marketing initiatives by SkyWest Media, this race will have substantial “eyes” on Silver City. For example, NBC Sports and USA Today are coming.

marketing matters understanding digital marketing triad header 4 6 18Most recognize that there is a lot that goes into understanding the digital world of marketing. What used to be rather straight forward choices associated with traditional media of print, broadcast, and OOH (out-of-house advertising signage), in the past 10 years has become a large puzzle. As advertising focus and dollars have shifted from traditional media to online and electronic media, the knowledge of how advertising works has had to evolve as well.

marketing matters header 3 30 18 sales promotionsDo you truly have a strategy behind your sales promotions or are you just trying everything you can without clear goals and strategies? Having a focused strategy is important. Having sales promotional goals are needed to obtain desired results. Just trying to do anything and everything all the time does not lead to sustainable success.
How to design strategy to achieve sales promotion goals:
Step 1: Identify “types of buyers” for your business
Step 2: Determine “desired results”
Step 3: Create aligned strategy with type of buyer, desired results, and the sales promotions
Step specifics:

marketing matters header 3 8 18 swotHave you heard of the marketing term called SWOT? This is a process to evaluate your company based on identifying your internal strengths and weaknesses and the external environment where opportunities and threats exist. It is so important to be able to define your core competencies. This is because through being able to properly identify what you know the most about and can do better than anyone else, you can potentially find a sustainable competitive advantage. A starting point to being able to identify your competitive advantage and core competencies is through completing a comprehensive SWOT analysis on your own company, then you might want to do the same on your competitors so you know where you stand in comparison. Let's answer these questions What can or do I do better than anyone else? Where are my biggest threats and what opportunities exist? How do I capitalize on this?

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Video marketing mistakes:
1. Trying to make a single video be all things to all people-Determine a specific objective for the reason for creating the video. Simply saying to promote your business to anyone is not a successful approach. You need to really consider your customer base, then segment those customers or identify new groups of potential consumers, then produce a video specifically aimed at one group of customers you have identified.

2. Trying to "oversell" or be "too promotional"-Make videos that are informative, that give value to the viewer. Always be honest and authentic, anything less will be known. The video should tell a story. The video should be enjoyable to watch as the content should be entertaining.