How do you succeed in your marketing strategy campaign for your brand? How do you win your industry market share in the shortest possible time.
Just remember my four little “F” words to excellent marketing.
You need to find your targeted audience market, this is the group of potential customers or demographic that most likely will need your product and services. There are many tools available in the internet to help you find out the customers needs analysis of your industry easily. One such tool is Google Trends.
On top of that, your prospects must also find you easily. Hence you need to be prominent on popular search such as Google and Yahoo as well as other community and social networking websites such as Linkedin. To let your potential customers find you online fast, you can consider doing Search Engine Marketing such PPC.
There is a saying, “a friend will only buy from a friend.” In today social media booming age, having tons of likes on your business Facebook fanpage or a list of loyal followers on your Twitter, will be considered one of the most important things must do for the CMOs of today.
Word of mouth marketing from satisfied clients of your brand are your best marketing strategy ever. And this is something that is out of your control. On the opposite, badmouthing from your clients, will also cause your company branding to lose the credibility. If no damage control is done, things will definitely aggravate, causing you to lose your industry market share in the long term for infinity and beyond. (yep, that’s from Buzz Lightyear).
Some marketers will ask me this question, “there is no first mover advantage in any industry at all. Everything is already invented and created decades ago. So how do I stand out against the Big Time competitors with Big Time Budgets?”
What I will usually tell them is create your own niche from where you are; and tell the world what is your unique selling proposition, in short, USP, something that only you have while others may not. You and company B may sell the same commodity, however your USP may be is a good customer feedback service team. Hence, this niche will be something that you do for the first time by being different from your competitors who is selling the same thing as you. Your customers will no longer see you as just a commodity supplier like your competitor. (this is very long and naggy but I hope you get what I mean.)
Being first doesn’t mean you are the biggest brand in the world, you have the biggest office and such. Being first simply means you are the first brand,your prospects will remember whenever they need your products and services to solve their problems. Hence, it also means getting brand reputation in the subconscious minds of your prospects.
Now the last “F” word will be something dirty and bad.
Guess what is it?
Yeah I know this is not what you are thinking.”Foe” simply means things about your competition. Being a top performing marketing manager for your company, you need to always analyse your competition.
First, know where you stand in the industry and then see where your competitors stand. What are their strengths and their weaknesses, what will they do in the near future and such. From there, devise your marketing strategies in a realistic manner taking into account the presence of your existing competition.
You may also need to prepare yourself for any new competitors in your industry. The less the barriers to entry, the more potential competitors you would have. So remember, my 3rd “F” word, create a new niche “first” so that you will be different from your competitors.
5. By Combining these 4 “F” words, you would have:
“Find your Friend First, before your Foe.”
Marketing is all about speed. You need to quickly establish your brand in your industry, getting as much market share as possible. You need to innovate in your product, your strategy and your customer relationship consistently.
Never slow down, if not, your competition will catch up.