Marketing Is Not A Commodity
Have you ever tried something on - pants, shirt, jacket, hat - that says One Size Fits All? Or One Size Fits Most? In the back of your mind shaking the head, saying, nope probably not. But I’ll try it. Sure enough, in a few weeks, it loses shape, comfort, fit, relevance, etc. That product is trying to be one thing to all or most people. Pretty unrealistic and a waste of resources. Customers crave clarity, definition, and customization; the opposite of commodities.
The other day I was doing a bit of market research for myself. Yes, a rare moment but I was curious to see what’s out there in the marketing consulting world that I should be made aware. A local marketing company, whom I admire greatly posted monthly retainer marketing packages WITH PRICING! To my horror, I read through the package descriptions and pricing and was dumbfounded.
Now, as a side note, this consultant targets the same client type as my company: B2B professional services, real estate developers, and builders. This client type and market are driven primarily by their differentiators, unique value propositions, and brand identities. How could a package of marketing tactics come close to meeting revenue goals, building brand value, and differentiating their services.
Clearly this consultant had commoditized the marketing into something that has to be done instead of strategizing individually with clients to see how these marketing tactics can work for their goals and intentions. Not all channels, mediums, and platforms are necessary or relevant for all brands. In fact, it can have a negative impact if not positioned properly in the marketing mix. Here’s a list of considerations if you are seeking marketing services and are enticed by these monthly packages.
For Your Consideration
Digital Marketing Formulas Don’t Use Data - Now I know data is a buzz word however it is largely tangible when collected, reviewed, and applied to your goals and intentions. For example, if you’re an architecture firm that targets public work, public process, and collaborating with municipalities to deliver quality projects for community stakeholders then posting randomly on social media twice a day will not yield results that progress you toward that goal. What will? Watching what your target market is doing online and engaging/responding to their social media postings with messages that are about collaboration, support, and understanding. Telling your story through their lens builds a bridge to common ground.
Social and Earned Media Self-Promotion Have Sunset - Audit your social media and your earned media. What percentage of your efforts are all about you? Is it full of new hires, employee dog photos, project awards/wins, and newsletter sign-ups? That’s cool and all but who cares? Ask yourself why is it important to my target market? Why should they care? In professional services, every firm, consultant, and team has lessons to share, challenges they have overcome, relatable stories about their process and outcomes. Yes, yes, welcome Chad to the team, he’s great, plays soccer, has a dog, blah, blah, blah. But WHY should your target market love Chad? Did Chad achieve obtaining permits through a difficult permitting process with lots of red tape in record time? Has Chad served on City Council in a similar community as your target? Vet out the details of the value of each and every posting. Same with press and media releases. The media are far more likely to mention and include your submissions in their publication if the relevance is relatable and clearly defined.
Marketing Budgets Are Cyclical and Vary by Industry and Goals - I’ve never met, helped, worked for, or have seen two budgets the same for similar firm types, ever. Why? Because projects are diverse, client budgets change all the time, and the market is cyclical. Why spend money on marketing when the entire firm is up to their eyeballs in billable project work. Yes, maintain a brand presence but focus spending not on winning more work rather on how you help others and what that looks like. Monthly retainers can be challenging to quantify at times. Will you need ALL that social media in December or will you really need four photoshoots a year? Yes, video is important but doing something simply because it falls into a package of other things is both parties saying to each other that you don’t know what you need and they don’t know what you want. Clarity, clarity, clarity. In the fourth quarter, you won’t need press releases, you’ll need the new Marketing Plan, Budget and Strategy completed. If you're a homebuilder, kick up that advertising and media budget in the summer and slow it WAY down when school starts. It’s cyclical and collecting your data will be tremendously helpful and leveraging your marketing budget.
A strong, trackable marketing effort starts with a conversation and requires communication, clarification, and customization. It’s not a package you buy online with a list of things that commoditize a brand, firm, or service. Your marketing efforts are as unique as your brand and value proposition. Marketing strategies and tactics focus on people, service, and results-driven by partnership, collaboration, and intention. Contact me here to discover how to make your marketing efforts achieve your goals.