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To get the most from marketing requires lot of thinking and right approach. The best way to select visibility options would be to select media which reach your customer or be present where your customer is likely to visit. New unconventional marketing methods could be used if it appeals to the target customers. It might involve risk but still it is worth trying.
"When spending on Marketing, creativity and smart
thinking is a must."
"Let's go all out and paint the town red. That's the best
way to launch the product." "Sales were low because we did not have enough
advertisements."
Sounds familiar? The typical reaction to marketing spend
is we need more. More presence in the mainstream dailies, hoardings across town
and TV spots. Ask a media advisor for a marketing plan for a new product and
the typical method is to focus on advertisements in the main line dailies. No
wonder the marketing spend more often than not, is a bombshell.
Rajesh Jain, of the India World fame once shared with me
his disdain for advertising, and how ineffective if not unreliable it is. He
personally refrains from using advertising, and instead tries to find
unconventional ways to reach out to his market. He says, for advertising to be
effective you need to have repeated inserts, and that can be very costly.
Rajesh Jain's view point is on one extreme end of a spectrum, the other end
being the die hard ‘established media' loyalists who do not want to waver from
the conventional media and methods.
The answer can be found by looking a little more closely
at how your customers behave.
I have always noticed that when I learn a new word I keep
bumping across it in newspapers, conversations, novels, etc. The word was
always in vogue but my awareness of it enhances the chances of noticing it. The
eye sees what it wants to see. Therefore, to make me see something that I am
not aware of one needs to really shout out loud, and if one were using a main
line daily, well nothing short of a full page advertisement might do the trick.
Now that's a lot of money. The flip side of this is that if I am aware of
something my eye immediately catches it, as I flip through the news paper, or
as I drive past billboards.
For someone launching a new product, the key is to first
create interest and plant the name and concept firmly into the consumers' mind.
Broadly speaking there could be two approaches, create a need to experience the
product or announce it in a manner that he does not miss it.
Product or service experience could be created through
road shows, seminars, exhibitions, one to one meetings, etc.
Loud announcements could be
created by taking big space in mainstream dailies. This sure would cost a lot.
A more cost effective way could be to focus on more targeted media, like
industry journals, industry segments, specific demographics, etc. For instance,
if one were to launch a youth focused product one could well use the
newsletters kept in coffee cafes and cyber cafes. If one were to target the
business decision makers in Bangalore
one could use Businessgyan. Sending in direct mailers is a great way, though it
can prove very expensive if large numbers are involved.
The best way to select visibility options would be to
select media which reach your customer or be present where your customer is
likely to visit. Events targeted at focused customer groups are a great place
to be visible in.
The other important place to be in is where the customer
is likely to seek information. Yellow pages and product directories make sense
if the product category is an established one.
Rajesh Jain currently is a big fan of Blogs found on the
internet, he claims that this is a great way to reach out to people. He does
spend a lot of time on it. For instance, he posts something new every day. That
requires a lot of dedication.
Harish Bijoor once in an interview with Businessgyan
narrated how they had once put a marketing message on eggs and created a
sensation. How for Tata Coffee they had made the largest coffee cup in the
world, the publicity that followed for this was well worth it.
Of course dealing with unconventional methods has its own
risks. The most important one being what if someone in your organization
questions your wisdom. The adage "No CIO got fired for buying an IBM machine"
works here as well. n
The
author is the Chief Catalyst of businessgyan, his areas of interest are
business strategy and innovation. For feedback & more information send mail
to thespark@
businessgyan.com
Issue BG83 Feb 08
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