Dominate Your Local Market
In the last few years the social web has caused marketing to shift from Outbound Marketing (direct mail, telemarketing, trade shows, TV, radio, and newspaper ads) to Inbound Marketing (SEO, pay per click, social media/buzz, blogging, etc.) This has also changed who is in control of the transaction. The marketer/company is no longer in control – the consumer is. This is good for the consumer, and both bad and good for the marketer. Bad because the consumer is now in control, but good because the cost associated with Inbound Marketing is dramatically less.
In spite of all the buzz, it’s important to remember that while things are constantly changing, principles never change. Today we have the social web, mobile devices, and wireless gadgets, but if you think about it, strategic marketing hasn’t really changed. Your marketing message (strategy) still needs to be communicated in a compelling way that stands out from all the noise in the marketplace – along with an irresistible offer.
In a recent study on social media by the IBM Institute for Business Value, researchers found that companies have it all wrong about what consumers want in the social media space. They went on to say…
“We discovered significant gaps between what businesses think consumers care about and what consumers say they want from their social media interactions with companies. In exchange for their time, endorsement and personal data, consumers expect something tangible. But businesses rank getting discounts and purchasing as the least likely reasons consumers interact with them.
Consumers are willing to interact with businesses if they believe it is to their benefit, feel they can trust the company and decide social media is the right channel to use to get the value they seek. That value could be in the form of a coupon or specific information. Engaging with a company via social media may result in a feeling of connectedness for consumers – an emotional, intangible gain – but the wish for intimacy is not what drives most of them.“
You dominate your local market by employing the latest “tactics”, but using proven marketing “principles” to connect with your target audience and cause them to say; “I would have be a fool not to do business with this company or person.” Effective marketing “principles” are based on psychology and human behavior, and human nature hasn’t changed in 4 million years.
There are no short cuts to succeed in business. You have to pay your dues but the rewards are impressive and long term. Dan Kennedy says it best when talking about dominating your market– “Make it difficult for your competition to copy your business by building a complex marketing system.”
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