Thursday, March 26, 2009

To know us is to love us - right?

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Awareness is a common goal of marketing.

The assumption, of course, is to know me is to buy from me. Image advertising. Being funny, memorable, businesslike, serious, whatever we think will help the customer remember us.

You know the textbook example of great awareness/brand marketing? Movie marketing for Snakes on a Plane. It went viral months before opening day. It had incredible word of mouth. Heck, half the movie was designed by the target audience. Prelaunch estimates projected box office earnings in excess of $100M.


The problem, of course, is that awareness did not translate into sales. Actual U.S. box office? $34M. If you account for both production budget and marketing expenses, the franchise broke even at best. A spectacularly successful failure.

That leap of faith between awareness and sales doesn't play well for marketing teams in tough times, either. How does marketing show me the money?

First, here are my assumptions:
- Your company doesn't already have a century-old storied brand.
- You don't have money or time to build one.
- You are under the gun to drive sales this fiscal year.
- You understand your customers well enough to talk to them in a manner they will consider directly and actionably relevant, or if you don't you're willing to roll up your sleeves and figure it you.

If those are your parameters, then the marketing answer, in my view, is two things.

Thing One: Strategic coordination between operations, marketing, and sales.
Someone is driving the conversation internally and externally so that your company is able to make promises it can keep and live up to the promises it does make. This isn't about perfection or even operational excellence. It's about understanding the reality of your operations, having some clue of your customers' mindset and needs, and being able to put your company in a relevant position between the two. If your marketing message makes either your operational delivery team or your customer facing sales people cringe (let alone complain openly), do some more work before you take it to market.

Thing Two: Direct marketing.
Direct marketing teaches us to question anything that (1) can't be measured, and (2) doesn't lead to revenue.

Run campaigns which intend to get a carefully identified set of persons to take specific actions to move through their buying processes. Measure what actually happens. Then tweak your approach based on prospects' behavior and feedback from sales people.

Awareness building tactics that help you gain credibility with your target buyers and influencers can help. But you should be able to draw a line from those awareness tactics to a step in your demand generation process or in your sales cycle, and identify some evidence of lift. Even if it's anecdotal.

The meat of your marketing budget should go into getting buyers and influencers to take concrete, measurable steps toward you, which lead to other measurable steps, which lead eventually to a sale.

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