Tuesday, February 26, 2008

Mantra of Marketing

It is not about new ways of marketing and promotion , it is about categorising old ways
Must Use them : IF one advertiser which you should use always and at any cost , that is your customer . There are very few businesses which use their customers as their brand ambassador. I feel rather then investing a million dollar on a big celebrity , it will be worth more to invest 1 million dollar on 10,000 customers and give them some kind of benefit to advertise for you.
Customer must be used to promote your product as they are the one who can convey the message with the most credibility to other likeminded people . A customer can even break another persons brand loyalty and bring him to your shop . I have seen this many times in youth and teenage group where they are mostly influenced by people walking around them.

Can’t do without them : In todays world one thing you simply can not do without and that is internet . It is redundant to say how important is net for your products advertising and promotion. Social networking sites like orkut , facebook and linkdln are creating hypes they give you power of reaching to thousands of people , categorize them on the basis of different parameters and target them by writing just one message. That’s the power of technology and innovation which simply can not be ignored.
Other medium like blogs , ads in websites and search engines also provide similar value in almost insignificant cost.
Use them anyway : TV and newspaper are the medium which are anyway used they have become so obvious that now advertisers don’t even bother to find out how many people they are going to reach by putting their ads on these medium , they simply going for it knowing both of these medium jointly penetrate more then 90% of the population. So next time you decide to advertise a product don’t waste your time thinking how many people will you reach by TV,Radio and newspaper . Everyone can be reached by them and everything can be sold using them.
Don’t Go Alone : Almost every business needs partners and suppliers , one must also try to arrange mutual cooperation with partners to promote each others product . Remember how intel become a brand by advertising on PCs with “intel inside” logo , that was a very smart move and before that no one cared much about internal processor of the system , what mattered was the name of the assembler or manufacturer of the laptops or PCs but this advertisement generated the kind of awareness which made intel a strong brand .
CoCreate Value : Once the business is in comfortable zone , it is time to give something back to society , environment and planet , infect now there is concept of triple bottom ,where even the social activities and values generated by these activities are also added in balance sheet , ITC is one of the few which have already started doing it. So if you are in associated with any NGO then it can be promoted on your websites and similarly your product can be listed in NGOs website . Its all about being in the club of mutual admirers after all :)

2 comments:

Sidharth said...

[i] businesses which use their customers as their brand ambassador. I feel rather then investing a million dollar on a big celebrity , it will be worth more to invest 1 million dollar on 10,000 customers and give them some kind of benefit to advertise for you.[/i]

What about products which actually do not or cannot provide any "special" benifits. I feel, Generally these companies spend a lot on Celebraties.

Saurabh said...

Iagree with it , A company like Boing will never be able to it :)