It’s All About Value – Marketing Tip 2
Marketing Tips – It’s All About Value
Reasons to read this Marketing Tip –
1. You’ll learn one of the most important marketing concepts on earth
2. When you see how this works you’ll be able to start making changes fast
3. Using this marketing principle costs no extra money – it’s only a matter of choice!
As we talked about in last week’s email (your very first Marketing Tip Weekly Email) you need to start your journey into marketing by keeping your eyes focused on PROFIT.
That’s your number one goal in each and every marketing output, channel, platform or campaign. Always approach marketing with the aim of working to a profit margin. The more you do, the more profit your business makes.
Of course you need to remember that some marketing channels produce long-term gains, but you should still focus your efforts (and budget) on direct response marketing.
In this marketing tip we’re going to look at what really makes marketing work. This concept is an absolute foundation principle and if you get this, and I mean really get this, then you’ll go on to become a top marketeer!
In fact, you might think it strange to give you this information up front. It’s worth gold-dust! Well, it’s because it’s so important that you know this principle before you even start to think about how-to-marketing.
As you take small steps forward, and some big ones too, I hope, you’ll learn how this idea can really change things for you.
Let me walk you through the steps…
The essence of marketing is an exchange. It’s an exchange of ideas for commitment. It’s about proposing a possibility that something might happen. And in most cases (but certainly not all) that ‘something’ is a profitable transaction.
“So you’re saying that marketing is about an exchange, as in a sale?!”
Yes, but not just a sale in financial terms. It’s also about ‘selling an idea’. When you make an offer what you are really proposing is an exchange of value; you give me something and I give you something back in return.
Just think about that for a moment. At the heart of that scenario is a very big question of trust.
And trust is all about weighing up risk.
And the only way you can calculate risk is to assign VALUE.
This, I think you’ll agree, is the clear logical sequence that we all go through every time we decide to buy something. Our desire to exchange money for goods or services, whatever they may be, is always based on perceived value.
So how is this so important in your approach to marketing?
And this is just it, the most effective and profitable marketing activities and campaigns are all driven by the desire to give huge value to the customer.
It’s not about marketing what you want to sell. It’s about what the customer thinks is potentially valuable to them.
This is where most people go fundamentally wrong with their marketing, never improve and just waste money before they finally give up or go broke.
Customers will queue up to spend their money with you when you can promise them enough value and they believe you!
This is the bedrock of marketing at its best.
If you’ve already started marketing take a look back at your own adverts, promotions, signage, website, etc. then ask yourself this crucial question;
“Would someone, who previously knows nothing about me, my business or my product/service, be convinced that there is enough value (for them) in my offer?”
Then ask yourself; “Are my adverts and promotions value-led for my customers?”
You may feel it’s a good idea to get someone external to do this for you. Asking for an external perspective of your business and your offer is always a good idea. But promise that you’ll accept their assessment with no resistance. Park your ego and be prepared to hear something you need to know.
Here’s the thing; if you’re currently struggling with your marketing the chances are that you’re just too close to the business. You know what’s great about the things you do and sell. You know why customers should want to buy from you.
The question is how do they know? How will they find out?
On so many occasions, when I’ve reviewed marketing for people, there are huge gaping holes where they’ve completely missed out. They’ve failed to clearly express and explain what actually is brilliant about their business, products or services. They’re completely underselling themselves.
Why does this happen?
Generally because we’re all so busy in our business from day-to-day that we often forget that others, with no experience of us, simply don’t know what we do, how or why.
Then there’s another reason, yes, we’re too British. Here in the UK business owners still tend to think that less is more and that modesty is the rule of the game. Believe that at your peril.
You need to turn up the volume. Get excited and share what’s great about what you have to offer. Let’s be honest, why should customers get excited about your business if you aren’t?!
Your marketing will work, just as soon as you can give other people – your prospective customers – enough reason to want to do business with you.
This is where VALUE and the perception of value is critical. This could be described as the dark art of marketing. Yes, there’s the potential for a lot of manipulation here, especially when you learn how to use powerful techniques of influence in your marketing messages.
And this is why there is one key ingredient you need in your business marketing; authenticity. It could also be described as integrity and honesty.
Becoming a great marketer is about creating great products and inviting people to buy them.
Marketing is not about trying to turn a dud product or duff service into something that it’s not. It’s about delivering emotional value.
So what happens next?
Here’s your Three Step Plan for the week ahead –
1. Stop and take a step back; look at what your current marketing is actually saying about you. It could be that it actually says very little. You may also be giving mixed messages or completely confusing your potential customers.
2. Make a list of all the things that you know and believe are great about the product or service you’re trying to market. Then put them in order. Do this through the eyes of a customer. Maybe even ask a customer to help you with this.
3. Start to add these new features (Marketing Assets) into your messages and marketing outputs. Make sure your website expresses why other people think you’re great and why they would recommend you.
Above all give yourself time to do this properly. Yes, it’s a big one, and this is something you’re going to need to learn to do on a regular basis. You should always be reviewing your offer, comparing it with your competitors and looking for ways to increase the value.
Keep focused, use these ideas and stay tuned for next week’s Marketing Tip Email! (If you’ve not yet subscribed get access here).
PS. Got any questions, need more answers? Or want to share your own experience on this topic? The simply post your comments in the space below this blog and we’ll do our very best to answer you.