Compete With the Big Dogs: Marketing Strategies for Small Businesses
For small and medium-sized businesses, marketing has never posed a bigger challenge. The economic downturn has forced deeper cuts in already limited budgets. Add to that the splintering of traditional media channels and audiences, and you’ve got a huge challenge on your hands. How do you reach your audience in the most efficient manner possible? And do it all for less than your larger competitors?
Enter Neuromarketology – Harness Converging Technologies and Diverging Audiences to Create Dynamic One to One Marketing and Astonishing ROI, the new book that presents one-to-one marketing strategies developed and proven right here in the Airpark.
Neuromarketology outlines the new technology and strategic methods that make it efficient and affordable for small business owners to communicate with prospects and customers individually and in real time. Rather than trying to make one print ad generic enough to apply to various categories of prospects and customers, you can now send individual, personally relevant messages to each of them. This highly personalized approach dramatically improves marketing results at a lower cost–a technology my company spent about $2 million over the last 28 months to deploy.
One to One Marketing: A Better Marketing Approach
Traditionally, for all but the biggest businesses, marketing has been a process of compromise. Marketing 101 directs us to develop a message that is highly relevant to a single group; talking to other groups that could be attracted to your offer blurs your message to that primary target audience.
The problem with this model is that most products and services are relevant to more than one group for different reasons. By zeroing in on just group, you sacrifice the others. Big business understands this, which is why they segment their messages to multiple audiences with separate divisions, sales forces and marketing budgets.
Of course, that costs more–typically 50 percent more. But one-to-one methodology targeting many groups delivers 150 percent of the results by channeling multiple revenue streams into those companies utilizing it.
Take Microsoft, which knows a thing or two about marketing. Microsoft targets business users, home users and IT professionals, segmenting each group by type and size. Microsoft also segments by industry. In education, the company sub-segments into K-12 and post-secondary audiences.
Imagine the branding bloodbath companies go through to arrive at that one message just right for one target audience. We’ve all been at the table for endless branding and positioning meetings that seem to lead everywhere and nowhere. The marketing director sees it one way, the VP of sales sees it another. The boss has his own perspective and pretty soon even legal and your CFO has an opinion. And what’s the worst part of this whole process? That everyone is right!
Just about any brand/product/service offers a range of benefits to a variety of prospects and customers. Depending on who they are and what they’re looking for, each individual can be matched to a different attribute from the supplier.
Customers just want to know one thing when making any purchase: ”Is this product or service right for me?” When you answer that question with superior relevance, timing and placement, sales will soar.
FabCom has a separate division, Scottsdale Interactive, for helping small business compete more effectively, even against their “big boys” competitors. For more information, log on to ScottsdaleInteractive.com.