Marketing that is Education,
Not Sales-Based!
Modern marketing is informed by
the necessity to satisfy the needs of sophisticated, savvy and informed
consumers who demand quality products that assures them that they have received
value for their money. In the present marketplace, consumers do exhibit high
levels of price sensitivity and price awareness coupled with minimal brand
loyalty and as such they do show greater inclination to switch brands depending
on the brand quality and brand price vis-à-vis the quality and price of a
competing brand. For this reason, marketers must make appropriate adjustments
in order to cater for these new and adaptable needs. Furthermore, more products
continue to crowd the marketplace and the marketer must thus adapt
appropriately in order to stand out from other marketers, and also maximize the
profitability of the brand. This can be achieved using two generic marketing strategies:
marketing ceaselessly (and sometimes ruthlessly) to customers; and the
unconventional marketing strategy of catching the consumer unaware (and
sometimes in unexpected ways). The latter strategy is designated stealth
marketing, while the former is designated as sales-based marketing.
Sales-based Marketing
Sales-based Marketing has
always been the main approach practiced by the overwhelming majority of
individuals, entrepreneurs and corporations since the beginning of modern
history. Examples of major corporations that use this strategy are McDonald’s,
Nike, Disney, and Coca-Cola. Even though it is the only kind of marketing that
most people recognize today, it is rapidly becoming a dinosaur.
In Sales-based marketing, the
focus is largely on the needs of the Seller and her/his goal to consummate the
Sales transaction as quickly as possible. In this strategy, the marketers
places maximum emphasis on their products by focusing on the existent
competitive advantage, devastating the profit sanctuaries of their competitors,
openly plagiarizing the ideas of other entities and even overhauling business
operations when deemed necessary. In this strategy, some marketers do use
coercive techniques to market their products, and at certain extremes, they may
use deception in order to convince a person to purchase their products.
The key limitation of this
strategy is that that few people like to be sold and fewer still enjoy being
closed! (Of course, this is the sole focus of selling and of most marketing
efforts today). Sales-based Marketing often causes people to withdraw, leads to
negative perceptions, and kills trust. At its worst, it feels aggressive and
overreaching to the prospect, and makes them feel like a target/victim.
The remainder of this article
will provide a deeper dive into the many advantages of an alternate universe
collectively designated Stealth (or Education)-based Marketing.
Stealth (Education)-based
Marketing.
This approach couldn’t be more
different than Sales-based Marketing, and as such, represents the rapidly
emerging new paradigm. The goal of this approach to take it slow by adding
true, substantive insight and value at each touch point in the marketing
campaign. This redefinition of marketing practice has been necessitated by the
fact that the modern customer is informed, versatile and also exhibits poor
brand loyalty (especially if he or she is not well informed about the benefits
of a specific brand).
The four basic elements of the
marketing mix (product, promotion, price and place) have enabled marketing
experts to classify stealth strategies into six different marketing techniques
which are briefly discussed hereafter. To begin with, viral marketing uses the digital
platform to popularize the product via email marketing, blog marketing and
anonymous online marketing. Brand pushers uses hired actors who approach naïve
persons in real-life situations (such as in trendy bars, tourists hotspots and
music stores) and then stealthily market a given product by slipping commercial
messages to such persons during normal conversations. Celebrity marketing is
another technique which uses paid celebrity endorsements whereby the
celebrities play the part of contended customers who are offering unpaid
testimonials. In Bait-and-Tease Marketing, a new product is promoted via a mock
movie trailer such as when Mercedes Benz used a mock trailer for Lucky Star to market their SL brand.
Marketing products in video games involves embedding logos and brands of that
product in video games. Finally, Marketing in Rap and Pop Music involves
embedding commercial messages in rap and pop songs.
In stealth or education-based
marketing, the focus of marketing is reversed as it zeros in on the needs of
the Buyer and her/his goal to gain enough insight as to be an informed
purchaser. The rationale behind this helping hand approach is the principle of
Reciprocity. This means the Marketer is willing to take on the education
process to inform, in the belief that this will in turn, encourage the prospective
buyer to reciprocate the favor by moving them to the top of the short list of
candidates under consideration.
This approach is often called
Content-Marketing, as the currency it is trading in is Knowledge. At its best,
this methodology creates a corporate culture that seeks to differentiate itself
in the marketplace by demonstrating its authentic thought-leadership. The best
practices of Education-based marketing revolve around enlightened offerings of
information and training in the form of articles, special reports, white
papers, speeches, webinars, books, etc.
Thought leadership content
tends to unfold in (X) number of seamless steps, usually in the same article,
webinar, etc. These are compositely encompassed in the IDEA model. In the IDEA
model, the marketer Identifies the pertinent
issues affecting the target audience and their (target audience) sources of
trusted information, and then Develops
the thought leadership platform that adequately and appropriately conveys the
positions and ideas concerning the product; and thereafter Engage the target audience through various channels such as social
outlets, digital platforms and traditional communication channels; and
afterwards Assess the impact of the
marketing on the overall performance of the business in terms of sales volume,
profitability and market reception of a new product. The thought leader needs a
toolkit which is made up of the following: articles, events, writing a book,
newsletters, white papers, case studies, email newsletters, research reports
and blogs.
The marketers are sometimes
faced with a dilemma concerning how much information is appropriate for a
consumer. When in doubt as to how much information to convey here is a rule of
thumb: The appropriate length for a research report, book or article etc, is
the least possible number of words which can convey a strong argument.
No comments:
Post a Comment
Only comments that conform to the natural laws of decency and formal language will be displayed on this blog.