In today's world, it is an understatement to say that
we are constantly bombarded with information of nuclear proportions.
The roles of both the consumer and the entrepreneur have become so
immensely challenging that choosing a business to buy from -- let
alone being and remaining in business -- has become a dizzying process.
Therefore, how does one survive let alone thrive in today's explosive
hypercompetitive marketplace?
Unfortunately, many businesses are still marketing
themselves with old-style, "knock-until-you-drop" institutional marketing
approaches (the kind that says "I'm open for business"). These methods
no longer work, or at least not as effectively as they used to. For
instance, while some companies successfully generate a good response
from their marketing efforts, it is one from which little or no business
is produced.
The key is not to advertise that one is "in" business
but that one is "the" business of choice. Where people used to ask
"Why should I buy this product or service?" today, that question has
changed to "Why should I buy this product or service FROM YOU?" Simply
put, today's consumer will choose one company over another because
the perceived value in their choice is greater.
The world is so full of raw data that people no longer
have the time to sift through all the information that is thrown at
them -- let alone the time to shop around for the best product from
the best company at the best price. They usually make a decision based
on the kind of information that instantly communicates a specific
benefit; one in which there is an implicit added value in making the
purchase.
Generating response from one's marketing is one thing,
but getting respondents to actually buy is another. So, how can a
company communicate that it is "the" business of choice? How can it
give the kind of information that will get people to buy what it has
to offer and do so effortlessly, especially in a hypercompetitive
world? The answer is through positioning.
Top-of-Mind Awareness
In today's world of hypercompetition, top-of-mind awareness is the
most effectively provocative form of marketing now available. The
idea is to create, within the subconscious minds of prospects, a psychological
"anchor" that causes people to choose, when a need presents itself,
a company over another instantaneously. Ultimately, the goal is to
market one's business in specific ways so that the name, product,
or service stays at the top of their minds at all times. In other
words, since people no longer have the time to shop around, when they
do have a certain need they will go to (or look for) the company that
happens to be at the top of their minds at that very moment.
Ries and Trout, authors of the bestsellers "Positioning"
and "The 22 Immutable Laws of Marketing," state what I believe to
be the most powerful notion in the world of business, in that marketing
is a battle of perceptions, not products. In fact, marketing is all
about perception. You don't need to be the best company offering the
best product or service at the best price in order to be the best.
As long as people perceive you to be the best, you have the upper
hand.
However, here's the caveat. People want the best and
that has never changed. But if you outright state that you are you
then place yourself in a very fragile position, for people will think
that you're either bluffing or exaggerating at best. As an old mentor
of mine once said, "Implication is more powerful than specification."
If your marketing implies that you are the best without utterly claiming
it, people will then perceive you as being the best and you will thus
gain a winning edge over your competition. In essence, top-of-mind
awareness marketing is to win the battle for your clients' mind and
not their money.
Now, there are many steps that one can follow in order
to achieve top-of-mind awareness, but this deserves a book entirely
on its own. So, let me share one of them with you, which is the first
and most important step in top-of-mind awareness marketing: PACKAGING
Names
Does the name of your business, product, or service intrinsically
reflect the result or benefit of that which you provide? It should.
I am astounded to see many businesses today that are still called
by ordinary or blatantly unappealing names, such as with acronyms
like "MGF Technologies, Inc." I agree that some businesses may have
notable or even "catchy" names. But if they don't create top-of-mind
awareness, they won't create more business.
Consider this example. Which investment company would
come immediately to mind if you were in the market for one: "John
Smith Investments" or "Wealth Wise, Inc."? What about "John Smith,
Accountant" or "A Knack with Knumbers"? Would you choose "JSI Brokers"
or "Money Mastery"? You see, your package is extremely important in
order to position (or anchor) yourself in the minds of your prospects.
If your name does not tell people who you are and what
advantage people have in choosing you (i.e., the added value you bring
to the table), consider changing your name, especially to a brand
name that reflects the benefits of choosing your firm. Choose a name
that communicates your unique competitive edge and does so effectively
and efficiently.
Today, with the very limited time people have, many
of them would love to skip the inconvenience of searching for that
one company that offers exactly what they want. If they've heard of
your business and want to know more, many will attempt a to go directly
to you even before thinking about searching for the appropriate solution.
However, if they did not hear of you, their search will be much more
simplified if your name conveys a specific, unique, and direct benefit.
Taglines
Another tip is to add tag-lines to your business, product, and service
names. A tag-line is a small sentence, preferably 5 words or less,
that says all that you are in one single swoop. I'm sure you've heard
of "The Midas Touch," "Kills Bugs Dead", "Quality is Job #1," or "You
deserve a break today." These are tag-lines and more than likely you
know from which company they derive. Tag-lines are extremely effective,
particularly in casting an aura of superiority or exclusivity and
doing so without stating it outright. They usually complement your
business or product name and help to anchor it in people's minds more
effectively.
Tag-lines are particularly beneficial when one is small,
self-employed, running an home-based business, or limited in making
claims due to the type of industry in which one operates. Through
a brand name and especially a tag-line, one can create the perception
of superiority and anchor him or herself quite effectively in the
minds of prospective clients.
Here are some examples. Rather than saying "John Smith,
Business Etiquette Consultant," say "John Smith, Where Protocol Meets
Profits." Instead of saying "Jane Smith, Graphic Designer," say "Jane
Smith, Great Graphics Guaranteed." Other than saying "John Doe, Fashion
Consultant," say "John Doe, Flat-Out Fabulous Fashions." You get the
picture. Remember that the more top-of-mind awareness it creates,
the more simple the search for your business becomes. In other words,
think benefits.
For instance, if you were to put two products from
two separate companies side by side, two products that are of the
same kind, quality, and price, which one would you buy? Naturally,
you would have a tendency to choose the one whose package is such
that it makes the product appear as if there is more value added to
the purchase.
This added value may be in the form of guarantees,
lower prices, better quality, additional features, faster results,
etc. Essentially, put a special name and possibly a tag-line on your
product or service that communicates this added value. If your product
seems ordinary or is similar to that of your competitor's, make it
extraordinary through its name.
A typical or even nameless product or service may be
easier to sell when face-to-face with a consumer. But in the impersonal
world of marketing, however, the lack of human interaction takes away
the emotional element in the sale as well as the ability to overcome
objections. Therefore, a name must communicate that emotion. By doing
so, it positions the product or service in the prospect's mind and
empowers them to buy.
The object of packaging is not to claim superiority
or to make one "look good" but to turn the assumed into the assured
in the minds of people (i.e., to make their choice a simpler and more
confident one). For instance, most mechanics or garages offer free
estimates these days. Not only do people assume that most of them
do, they also expect it. This seemingly ordinary service has become
but an intellectual cliché.
However, let's say you've heard of a garage offering
"Free Fee Finders" or "No Guesstimate Estimates," or one whose tag-line
says "Where Estimates and Smiles are Free." Now, if you had to choose
a mechanic and do so in a hurry, and you specifically wanted one that
offers free estimates, would you go to one you think that offers free
estimates or to the one you know that does?
Everybody Can Do It!
This process is amazingly simple yet so remarkably effective. If people
don't have to assume that your company, product, or service offers
a certain benefit, or in other words if you take the guess work out
your prospects' mind, you instantly place yourself head above your
competition. You might think this process is a little silly or even
meaningless, but people have made fortunes by simply packaging ordinary
companies or products -- even those that are identical to that of
their competition -- a little differently. Remember the "pet rock"?
In my consulting practice, I hear this "silliness"
objection time and time again and especially with doctors. But I say
that the above techniques can be applied even in these situations.
For instance, a dentist offers traditional general anesthesia and
nitrous oxide (laughing gas) sedation in order to make the process
of dental work a pleasant and more comfortable experience. Many if
not all dentists in her area offer the very same thing. However, she
markets it with two simple words: "Dream Dentistry". 'Nuff said.
In essence, in today's hypercompetitive and hyperinformed
world, top-of-mind-awareness is probably the best marketing tool now
available. Through packaging, an ordinary company, product, or service
can become irresistibly compelling. This is what I call "Crazy Glue
for the Mind." So, make the ordinary extraordinary. Make yourself
outstanding by making yourself stand out!