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Like 100 million other Americans, I watched the Super Bowl on Sunday. I had read that commercials were costing $3.5 million for 30 seconds, and I caught myself considering the marketing strategy and the level of risk involved as much as I was watching the game. We are talking about huge amounts of money every time the ad runs, plus hundreds of thousands of dollars more to produce each commercial. The amount of money spent is staggering and like your business, the results HAVE to be tracked to find out is it was worth it, or if someone is going to be fired.
Most companies don’t have Super Bowl budgets to spend on their marketing. Some who do were noticeably absent from the game this year. Whether it makes sense to spend that many dollars on one campaign effort is certainly debatable and only time will tell who wins, and who loses. Marketers without Super Bowl budgets shouldn’t feel as though they can’t compete however. Here are some very effective strategies that won’t cost you an arm and a leg:
Innovate – Selling the same old stuff? Create a new product that the public actually needs and offer it for sale at a price they can afford. Let’s face it, if your product or service requires borrowing money to own it, chances are it’s not going to be a top seller this year. The most successful businesses in 2012 will be selling commodity goods for large markets, offering top quality brands at discounted prices, or developing new products and services that meet under-served needs. With that in mind, what service do you offer that can be tweaked, improved or freshened up to spice up your sales? What new product or idea can you introduce to inspire conversation about your business?
Revisit your Unique Selling Points – In 2012, it’s not enough to offer a product that someone is willing to buy and “let them worry” if it meets their needs. You need to offer something that sets you apart. Given how much the world has changed, if you haven’t revisited your USP recently, now is the time. Today, consumer skepticism is at an all-time high, the economy at an all-time low, and your customers have the ability to broadcast instant kudos (or complaints) about a product, service, or brand. Are you still delivering all aspects of your Unique Selling Points? Is your competition starting to creep into parts of it that were once exclusively yours? Take time this month to revisit your USP and make a list of changes that you need to make in your business.
Self Improvement – The most successful businesses exhibit strong leadership and character at the Top. It may sound old fashioned in this era of tremendously overpaid executives who seem to parachute away from failing businesses on golden wings, but the businesses that will succeed in the future will exemplify strong character from the top down. The best leaders set the example for everyone in the organization, effectively raising the bar in every category, starting with attitude and treating people well. The best leaders focus on leading by example; they don’t dictate. They practice good communication skills and empower and encourage their employees.
Social Responsibility – Think Green. It is no longer unusual for consumers to want to do business with organizations that are “green.” If you aren’t already a part of the Green Movement, start the process this month. Simply adding the word “Green” to your existing product label is not going to cut it. Just about every business can identify some honest adjustments that can make a difference. Look for opportunities to reduce process and waste. Green efforts can often improve profit margins.
Be Honest – Live Up to Your Marketing Hype. This is a lesson successful companies live by every day. Customers are quick to lament when the actual experience of dealing with a business fails to live up to its hype. You can get a better return on investment for every advertising or marketing dollar spent if you focus not just on bringing customers in, but on ensuring conversion and customer satisfaction. For conversion to occur, every aspect of the customer experience must live up to the promises in marketing. The best businesses ensure that their marketing messages ring true at all levels and touch points within the organization.
Making changes in your business and your marketing require time and energy but, now that the new year is well underway, it’s a smart plan to simply bite off little pieces of improvement every day. The result, compounded over time, can be a much more successful business.
About Eric Hardenbrook
Eric is an experienced Internet marketer, helping companies of all sizes to double or triple the effectiveness of their marketing plans with proven tools and techniques. Connect with Eric on Google+
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