In today's highly competitive marketplace, consumers can choose from any number of competing sellers in order to get what they want. When you and your competitors offer the same quality product and rely on low prices, loss leaders, and special incentives to make the sale, the product becomes a mere commodity and price is all that matters. But, when you shift your focus away from the sale and toward the consumer experience, you change the playing field.
Far too often, consumer experiences are delivered short of expectations. With the heavy presence of social media in our lives today, there's big buzz about "engaging" the consumer. But, I don't think too many of us understand what that really means. Doc Searls in writing about “the intention economy”, suggests that buyers find sellers, as opposed to sellers capturing buyers. He also shows us that the seller must earn respect and trust, and that branding is only useful if it is based on truth. Sellers must focus first and foremost on building relationships with buyers. The sale is a by-product of this relationship.
Building successful relationships with consumers means becoming transparent and giving them more than they expect. Now, more than ever, we must be focused on the quality of the consumer experience in addition to the quality of our product and service. Relationship building goes much deeper than simply putting your best face forward. It goes deep into that all important courtship, and it takes a whole lot more than giving flowers and holding hands to grow a beautiful relationship. It takes trust. It takes passion. It takes creativity. It takes honesty.
The average consumer prefers recommendations from family and friends over advertising. And, according to a Forrester research study examining consumer trust with various forms of advertising, consumer opinions posted online scored higher than traditional marketing tactics. Social media has permeated our daily lives to the degree that buying decisions are often based on the recommendations from around the globe instead of merely across the dinner table. This is an opportunity to capitalize on the marketing holy grail: word-of-mouth. Unfortunately, many marketers go wrong by trying to manage word of mouth. You cannot manage word of mouth. You can create the right circumstances to encourage good word of mouth. That's all you can do.
The fact is that consumers can no longer be sold to. Whether you like it or not, they are in control of when and how they buy. They know what's going on in the marketplace and they come to you armed with product reviews and competitive offers. As a marketer, now is the time to reinvent your approach in order to win consumers and meet business goals.
The opportunity is right in front of you and the choice is yours… simply do your job and deliver what you're supposed to deliver, or rise above and beyond the call of duty by delivering something great. Something unexpected.
Monday, December 21, 2009
Wednesday, November 4, 2009
The Right Answer
Effective annual marketing plans have always relied on a combination of real data and intelligent assumptions. Recent years have brought us a great deal of change at a very fast pace, which has created new challenges as well as new opportunities for preparing an effective 2010 marketing strategy.
I believe it is very safe to say that when it comes to marketing tactics, there is no common "right answer". When asked by clients if a particular tactic will produce the desired results, I can only honestly say that it all depends on the product, target, message and — more importantly in today's changing landscape — how the consumer wants to be approached.
If you aren't familiar with the Four P's of marketing [see footnote], it's a tried and true concept that I believe is as relevant today as when it was first introduced a half a century ago. However, the fourth P, "Promotion", requires some special attention these days. It isn't all about print vs broadcast media, public relations, and your sales force anymore. Today we are faced with — and perhaps blessed with — the possibility of building personal relationships with the masses. Today's buzz phrase is "Social Media" and it really can work if you are smart in your approach.
Before jumping onto FaceBook or Twitter, it's important to understand that social media can work with you or against you in two significant ways:
1. Social media allows you to hold a conversation with your audience
2. Social media allows your audience to hold a conversation with others about you
It is also important to understand that social media isn't just about FaceBook and Twitter. It's also about blogs, media sharing, widgets, mobile apps, podcasting, rss, email, and good ol' word-of-mouth. According to the MarketingSavant, a social media campaign by Ben & Jerry's yielded a 42% increase in time spent engaged with their website, strengthened existing relationships, and introduced younger audiences. This is an excellent example of how you can utilize social media through your own website without relying on trends like FaceBook.
But, don't let assumptions about social media overpower your focus on traditional media. Broadcast, outdoor, and print media are still the right choices in many cases. With the array of marketing channels available to us today through social and traditional media comes much uncertainty. For this reason, it may be wise to include experiments in your marketing strategy to isolate the effects of each option. If you have real data on your target demographics and psychographics — and you really should — you can start with assumptions about how they may want to be approached. Perform short market tests through seemingly appropriate channels and cut the loser at each stage. It will take time to isolate the winners, but solid experiments will ultimately reveal them.
As you begin working on next year's marketing plan, take a fresh look at the marketing mix. Determine which uncertainties require the most attention, and why. Work through the potential impact of reducing these uncertainties and you will be on your way to finding the right answer for attracting new customers and retaining existing ones.
Until next time,
Howard Theriot
Catch Light Productions
Four P's Of Marketing
http://www.netmba.com/marketing/mix/
I believe it is very safe to say that when it comes to marketing tactics, there is no common "right answer". When asked by clients if a particular tactic will produce the desired results, I can only honestly say that it all depends on the product, target, message and — more importantly in today's changing landscape — how the consumer wants to be approached.
If you aren't familiar with the Four P's of marketing [see footnote], it's a tried and true concept that I believe is as relevant today as when it was first introduced a half a century ago. However, the fourth P, "Promotion", requires some special attention these days. It isn't all about print vs broadcast media, public relations, and your sales force anymore. Today we are faced with — and perhaps blessed with — the possibility of building personal relationships with the masses. Today's buzz phrase is "Social Media" and it really can work if you are smart in your approach.
Before jumping onto FaceBook or Twitter, it's important to understand that social media can work with you or against you in two significant ways:
1. Social media allows you to hold a conversation with your audience
2. Social media allows your audience to hold a conversation with others about you
It is also important to understand that social media isn't just about FaceBook and Twitter. It's also about blogs, media sharing, widgets, mobile apps, podcasting, rss, email, and good ol' word-of-mouth. According to the MarketingSavant, a social media campaign by Ben & Jerry's yielded a 42% increase in time spent engaged with their website, strengthened existing relationships, and introduced younger audiences. This is an excellent example of how you can utilize social media through your own website without relying on trends like FaceBook.
But, don't let assumptions about social media overpower your focus on traditional media. Broadcast, outdoor, and print media are still the right choices in many cases. With the array of marketing channels available to us today through social and traditional media comes much uncertainty. For this reason, it may be wise to include experiments in your marketing strategy to isolate the effects of each option. If you have real data on your target demographics and psychographics — and you really should — you can start with assumptions about how they may want to be approached. Perform short market tests through seemingly appropriate channels and cut the loser at each stage. It will take time to isolate the winners, but solid experiments will ultimately reveal them.
As you begin working on next year's marketing plan, take a fresh look at the marketing mix. Determine which uncertainties require the most attention, and why. Work through the potential impact of reducing these uncertainties and you will be on your way to finding the right answer for attracting new customers and retaining existing ones.
Until next time,
Howard Theriot
Catch Light Productions
Four P's Of Marketing
http://www.netmba.com/marketing/mix/
Wednesday, August 26, 2009
Market Like You Mean It
Are your marketing efforts methodical and driven by real data, with a focus on measurable results? Or do you have a tendency to run promotions on a whim — maybe because business is slow or you got a great rate on some unused media inventory?
It's unfortunate that we often run across the latter when talking to new and prospective clients. We find many new businesses — and even established companies who have just gone a bit stale — are often not focused on putting meaning into their marketing efforts. They tend to be focused on the transaction rather than the relationship. They think the latest social media trend will answer their prayers. Or perhaps they just rely on gimmicks or fluff to draw attention rather than capitalizing on the actual merits of their products to build brand value.
So, how do we turn the tables and start making our marketing efforts more meaningful? For starters, your efforts should be focused with a clearly defined target audience and appropriate message. You should strive for customer acquisition and business growth, rather than simply making a sale. And possibly most important, yet most overlooked, your marketing should help consumers make a wise purchasing decision.
Eliminate Contradictions
Of course, your marketing efforts do not stop at the advertisement. You must really pay attention to details and think things through to the very end. If you promise a quality product, don't kill the experience with poor in-store display and sloppy handwritten signs. Don't let your staff kill the experience either. I have one client in particular with an employee who refuses to state the store name properly when answering the phone. She believes it sounds better her way. She may be a great employee in all other respects, but she should have absolutely zero customer interaction. Don't let this happen to you.
From the advertisement that brings them in the door, all the way through the purchasing experience, and right down to putting the product to use, the customer should experience your brand to the fullest.
Utilize Trends Wisely
Stop looking at your marketing efforts as mere sales tactics. Your company blog, your Facebook fan page, and even your Twitter posts can be great tools, but they are tools for engaging consumers — not selling to them. Find ways to use these current trends to build relationships and establish your business as a leader in your industry. But, do not get tied into social media to the degree that you are totally dependent on it — these are trends and will be replaced with a newer, shinier trend at some point.
Another trend to be careful of is pricing trends. We've seen dangerously low pricing trends within our own industry. It's virtually impossible for us to compete with hosting companies who oversell resources and printing companies who sell below wholesale, so we don't even try. The simple fact is that either a) they serve a very specific consumer base that is different than ours; or b) they will not be able to sustain a level of profitability that will allow them stay in business. Avoid the temptation to allow such pricing trends to shape your business. We keep our price points fair and appropriate to the value of our services. You should too.
Just remember, marketing is a job that's never done. It's an ongoing process and should evolve with your business. It should be driven by data and goals. And it should be about engaging the consumer — not persuading him.
It's unfortunate that we often run across the latter when talking to new and prospective clients. We find many new businesses — and even established companies who have just gone a bit stale — are often not focused on putting meaning into their marketing efforts. They tend to be focused on the transaction rather than the relationship. They think the latest social media trend will answer their prayers. Or perhaps they just rely on gimmicks or fluff to draw attention rather than capitalizing on the actual merits of their products to build brand value.
So, how do we turn the tables and start making our marketing efforts more meaningful? For starters, your efforts should be focused with a clearly defined target audience and appropriate message. You should strive for customer acquisition and business growth, rather than simply making a sale. And possibly most important, yet most overlooked, your marketing should help consumers make a wise purchasing decision.
Eliminate Contradictions
Of course, your marketing efforts do not stop at the advertisement. You must really pay attention to details and think things through to the very end. If you promise a quality product, don't kill the experience with poor in-store display and sloppy handwritten signs. Don't let your staff kill the experience either. I have one client in particular with an employee who refuses to state the store name properly when answering the phone. She believes it sounds better her way. She may be a great employee in all other respects, but she should have absolutely zero customer interaction. Don't let this happen to you.
From the advertisement that brings them in the door, all the way through the purchasing experience, and right down to putting the product to use, the customer should experience your brand to the fullest.
Utilize Trends Wisely
Stop looking at your marketing efforts as mere sales tactics. Your company blog, your Facebook fan page, and even your Twitter posts can be great tools, but they are tools for engaging consumers — not selling to them. Find ways to use these current trends to build relationships and establish your business as a leader in your industry. But, do not get tied into social media to the degree that you are totally dependent on it — these are trends and will be replaced with a newer, shinier trend at some point.
Another trend to be careful of is pricing trends. We've seen dangerously low pricing trends within our own industry. It's virtually impossible for us to compete with hosting companies who oversell resources and printing companies who sell below wholesale, so we don't even try. The simple fact is that either a) they serve a very specific consumer base that is different than ours; or b) they will not be able to sustain a level of profitability that will allow them stay in business. Avoid the temptation to allow such pricing trends to shape your business. We keep our price points fair and appropriate to the value of our services. You should too.
Just remember, marketing is a job that's never done. It's an ongoing process and should evolve with your business. It should be driven by data and goals. And it should be about engaging the consumer — not persuading him.
Wednesday, August 12, 2009
In Brands We Trust
At it's essence, your brand is meant to do two things…
- Establish a personal connection with consumers, and
- Maintain that connection.
What this means is that branding is not a replacement for advertising, and advertising alone will not create a sustainable brand. Advertising should, of course, support your brand by building recognition and supporting your brand personality, but it will never replace that personal connection which successful brands rely so heavily on.
I'm sure you've heard this spiel time and time again, but in this difficult economic climate it's more important than ever to understand the value of your brand — your connection with consumers. People are more critical than usual about where and how they spend their money. Maintaining a personal connection builds trust. And trust always outweighs high dollar advertising. Always.
The thing about brands is that every business has one, whether they realize it or not. Starbucks has a very purposeful brand that tells me no matter what city I'm in, I can feel confident about getting a good cappuccino. On the other hand, my local coffee shop does just as good a job at getting me caffeinated, but has an atmosphere like no other — and it achieves this without purposeful corporate intervention. Starbucks relies on meticulous rules to build and maintain it's brand. My local dive benefits from consumer advocates who simply love them for what they are. The end result is that both of these brands have earned the trust of their patrons, albeit by totally different means.
I recall back in the late 1990s the word "brand" became a ridiculously overused buzzword and most of the people buzzing had little understanding of what a brand actually was. The big thing for small businesses to do back then was to pay a brand consultant to develop a new brand for them. As a full-service ad agency, brand development is certainly part of what we do for our clients, but there was something missing in the trend I was seeing. These consultants were going through the normal motions of brand discovery and development, but then handing the client their brand on disc with an implementation handbook. The result I saw time and time again was the business owner becoming obsessed with making sure their logo, typeface, and imagery was always just right according the the guidelines in their new handbook. That's wonderful. It truly is. But that's also corporate identity — not brand building.
You see, your brand is not a simple tangible item that can be put on disc with a handbook. It's your personality — your character. Yes, it must be expressed in every advertisement, every product package, and every web page. But, more importantly, in every action by every member of your company from the CEO right down to the delivery boy. And every prospect or customer must be treated as a potential brand ambassador. The emotional connections you form with consumers will build trust and loyalty, and an ultimately bigger ROI than any media budget.
It's up to you to live your brand and build the most valuable tool in your marketing arsenal — trust.
Until next time,
Howard Theriot
Catch Light Productions
http://www.catchlight.com
Established in 1989, Catch Light Productions is a creative agency specializing in turnkey advertising, marketing solutions and graphic design for small business, new business, and the entrepreneur.
Thursday, June 11, 2009
Method Controls The Madness
The Plan. The first step in developing a successful marketing plan is to determine who you are and what makes you special. You must fill a need or people will have no use for your offerings, right? Consider where you want to be and how best to get there. Decide what it is that sets you apart and how this will benefit the consumer. A thorough understanding of yourself, your prospects, and your competition will help you determine — and achieve — your goals.
Focus. Although you may offer a variety of benefits that would appeal to many consumers, there is usually one single selling point which will win or lose your best market. Determine that one very special selling point and you will have established a focus which will set the standards for your competition to aspire to. When planning your communications, your message must be clear and specific to your objectives. If the message cannot be distilled down to one or two sentences, you are saying too much.
Your Role. As the client working with a marketing firm such as Catch Light Productions, you are the decision maker. You must make solid business decisions and then step back. Tough to swallow? Just consider that micro-managing projects can create a negative and counterproductive work environment and will often compromise the integrity of the finished marketing piece.
Success. How do we measure the effectiveness of your marketing efforts? An immediate increase in sales? Improved image? Breaking into a new market? Ideally each piece would generate more sales, improve your overall image and get you a big chunk of new customers. Yes, on occasion, a single marketing project can produce remarkable success. But marketing should be viewed as a cumulative effort — growing stronger with each project. Set your sights on building long-term success one project at a time.
Keeping It Intact. You’ve mapped out a solid plan. You’ve developed a great concept. You’ve created outstanding visuals. You’re brave new approach to marketing is going great. So, why not just throw in a few “support” projects here and there? Because you are always judged by your poorest effort, that’s why. When it comes to marketing success, it isn’t enough to simply complete each project and then move on. You must look at the big picture — every single item that sports your logo must fully support your corporate identity, and every single item related to a particular project must fully support that project and it’s message. Allowing Catch Light Productions to provide a turnkey solution will not only be more cost-effective now and in the future, it will also ensure the quality, consistency, and integrity of your image.
Ready to get moving down a more sane path to marketing success? Drop us a line for a no-nonsense, no-pressure, no-sales pitch discussion of your needs and how we might best meet them.
Until next time,
Howard Theriot
Catch Light Productions
"In advertising there is a saying that if you can keep your head while all those around you are losing theirs — then you just don't understand the problem."
—Hugh Malcolm Beville, Jr.
Friday, May 1, 2009
What's Your Problem?
Many people approach marketing with a focus on goals. Sure, you need goals, but can you truly know your goals without first defining your problems?
Low awareness of your services, high familiarity of your products but low utilization, poor company image and reputation, and high inquiries but poor lead generation are just a few potential problems your business may be facing. Whatever the case may be, these problems create the need for goals, and so the problem ultimately defines the solution.
Figuring out your problem is the easy part. It could come from conducting a customer survey, hiring a research firm for an in-depth analysis, or it could simply be an obvious issue you deal with daily. Once you have identified your problem, write it down. For example…
We have the most prominent location and best prices, but our competition is growing while we’re barely keeping our head above water.
Do you start running more ads? Try radio advertising instead of television? Redesign your website? No. None of the above. You need to first understand the underlying cause of this problem before you consider taking action. Just as a journalist asks the who, what, where, when and why when writing an article, you should do the same for defining you problem. You might be thinking… “Will this require research? Research that takes time and money?” Maybe, and we can help with that. Or maybe not — the answers might be right in front of you. Whatever the situation, defining and understanding your business problems helps prepare you to develop more effective marketing solutions. These solutions — these creative solutions — may involve risk and require you to make decisions that often do not meet with immediate, universal acceptance. Most of us tend to develop a routine of working and thinking. You can’t seem to veer from this path because this is where you found success. But, what if you dare to put aside all your experience and expertise? Dare to approach your problems with an open mind? You can then ask the obvious questions. You can even ask the dumb questions. And from this new point of view you will generate fresh ideas and truly creative marketing solutions.
The problem defines the solution. So, stop what you’re doing and figure out what your problem is. Then give us a shout. We can help you set goals and take real action.
Whatever you do, please do not start “thinking outside the box”. Your box is not empty. Just take a look inside.
Until next time,
Howard Theriot
Catch Light Productions
A problem well-stated is a problem half-solved.
—Charles F. Kettering
Wednesday, April 1, 2009
20 Years And Feeling Fresh
Here's the scenario. There's this management team at a somewhat smaller company trying to deal with their annual budget and marketing plan. They use a variety of vendors for design, web development, printing and media. They occasionally try to find time to send a press release or participate in community activities to generate some PR. They might even drop a chunk of their budget on a special project with that "big ad agency" who has been calling on them. But, this leaves them just trying to scrape by for the rest of the year. Their time and resources are stretched to the limit and they ultimately find themselves with inconsistent branding and poor ROI. Sound familiar? It doesn't have to be that way.
In early 1989, with little more than a diploma and student portfolio to my name, I setup shop on a drafting table in the corner of my old bedroom at my parents home in Southeast Texas. I won't bore you with my whole story here, but if you're interested you can read my career bio in our recent press release. At that time I had virtually nothing. But, like most fresh graduates, I was ready to take on the world. Of course it only took a couple of short months for me to notice this trend of marketing awkwardness among the small business clients I was working with. Whether such problems were caused by internal politics, poor management, or any number of other factors really didn't matter. I felt there had to be a way to bring "big agency" results to small businesses that would normally settle for less. So, I committed myself to getting my act together and I moved into a small office on April 1. That's right, Catch Light Productions was born on April Fool's Day. No joke.
Enter the hub agency concept. A hub agency is a strategic alliance of independent firms which center around a small management "hub". The hub agency fills the gap between outstanding results and modest budgets by pulling together specialized teams to match the specific needs of each individual client. Some call it the "Hollywood Style" because each client, each campaign, and each project is tackled by the team who can best pull it off — just like making a movie. While many marketing firms and ad agencies handle only large-scale projects or full retainer accounts, we remain focused on bringing you what you really need most: options. Whether your company is in need of a basic logo or full-scale branding, a single postcard or a multi-stage ad campaign, Catch Light Productions' unique Hub Agency structure allows us to always provide the most cost-effective marketing solutions possible. This approach has served us well for 20 years and we believe it will help us to continue serving you better for years to come.
Now that we've made our first 20 years, what's in store for the next couple of decades? Well, the primary objective right now is to streamline our workflow. I admit that over the years I have spread myself a bit too thin. To help alleviate this, I will be assigning a personal account executive to each full-service client account. Your account executive will be responsible for all day-to-day correspondence and for ensuring that your marketing plan is always given the proper attention. On the other end of the spectrum, we understand that sometimes you just want to get what you need when you need it. To meet this growing demand, we'll be making many of our most commonly requested projects available for direct purchase right here at catchlight.com. You'll be able to select a basic project, add a few options, and place your order.
Regardless of where your business needs fit into this new structure, you can rest assured that I will continue to personally oversee every project that passes through Catch Light Productions. With this more efficient workflow and greater focus, I believe the level of productivity and effectiveness we can achieve will be exceptional.
All the best,
Howard Theriot
Catch Light Productions
What helps people, helps business.
—Leo Burnett
Tuesday, January 20, 2009
Don't React To The Economy. Respond To Your Customers.
Seems everyone I speak to has to ask, "Is the economy hurting you?" Fortunately, my answer has consistently been "Nope. Not at all." That's right, I'm staying busy. Very busy. I credit this to my client base.
Don't get me wrong. I am certainly seeing the effects of the economic downturn. Some of my clients have stopped advertising. Some have cut budgets. Some just seem to be behaving erratically. However, Catch Light Productions has a diverse client base — financial, hospitality, industrial, education, retail, wholesale. There are enough in the mix who understand that maintaining strategy even during tough times will help them pull through the recession and come out on top. Some even get more aggressive with their marketing efforts. This keeps things in balance for me.
Unfortunately, not everyone has the benefit of such diversity. Many of you serve a very specific niche market. I've always been a big fan of catering to a niche — at least when it means finding and capitalizing on an untapped market. But, this can also leave you feeling high and dry if things go downhill in that specific market. So, how do you deal with that sinking feeling?
Consider this: Consumers do not go away — their buying habits simply change. They become more focused on how they spend because money is tight or they fear it will be soon. They are more focused on value than brand. They are doing more research before they buy. They are putting certain purchases on the back burner for now.
You should respond by reformatting your offerings. Introduce a lower cost product line. Offer a rewards program to keep loyal customers coming back. Stay informed about new business trends. Use social media like Twitter and FaceBook to form relationships — not to sell. Remember, it's not about you — it's all about the customer. It's about responding to consumer wants and needs. Get feedback. Ask what they want, then tailor your strategy so that you can give it to them.
I'll get more specific about recession-proofing your business in future posts. For now, step back and think less about where you are now and more about where you want to be heading. Post Cereal led their industry for years. As the United States sank into the Great Depression, Kellogg's responded by doubling their ad spending. Post cut theirs. Kellogg's became number one.
Until next time,
Howard Theriot
Catch Light Productions
Advertising is what you do when you can't go see somebody. That's all it is.
— Fairfax Cone
Thursday, January 1, 2009
Recession Resolution
It's a new year and it's going to be a tough one for many of us. As you may already know, Catch Light Productions recently relocated due to the impact of Hurricane Ike on our office (and home) in Southeast Texas. With the current strain on the economy, we are already seeing lots of small businesses doing some serious belt-tightening — especially when it comes to marketing. And to put a cherry on top, 2009 is Catch Light Productions 20th anniversary. For twenty years we've struggled and we've thrived. We've seen huge growth and been knocked down a few times. But, we've stayed strong and continued to come out on top. Twenty very interesting years and now we may be facing one of the toughest times yet. What better opportunity for us to practice what we preach by publicly committing to a New Years resolution to build our business and help you along the way?
Our first tip of the year: Go beyond your personal New Years resolution and resolve to be fully committed to growing your business in these tough times. Make the commitment publicly so you can't back out. It won't be easy, but you and your company will be better for it.
More to come. For now, best wishes for a prosperous year ahead.
Until next time,
Howard Theriot
Catch Light Productions
Advertise and market more. Provide superior service. Be prepared for losses.
— John Everhart
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