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Category Archives: Competition

If Someone Steals Your Idea Take It As A Compliment (You’re Doing Something Right)

If Someone Steals Your Idea Take It As A Compliment (You’re Doing Something Right)

Here’s the thing. If you’re in business and you’re doing well (or at least well enough), or if you’re good at what you do then people are going to steal your ideas (some call it copying). To think otherwise in today’s online business space is just naïve.

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Posted by on March 30, 2017 in Competition

 

Is Donald Trump A Marketing Genius???

I just had a very interesting thought, and that thought is reflected in the title…could Donald Trump be a marketing genius? Really! It’s a serious question!

Before I go any further let me first say I do not support or endorse him, or any politician for that matter. I am in no way interested in politics of any kind, of any country (I’m just being honest).

Now with that out of the way…

I haven’t paid any attention whatsoever to the 2016 US elections since it started. However, even when I try to ignore it, I still get overwhelmed with news of Donald Trump this and Donald Trump that. I turn on my TV it’s Donald Trump. I go on social media it’s Donald Trump. I probably go into my bathroom right now and see Donald Trump (no bathroom is safe from him!). Say what you will about him and I’ll probably agree, egotistical, narcissistic, overbearing, loud and obnoxious, the devil reincarnated…the end of the free world as we know it!

 

Donald Trump’s Marketing Brilliance (and what you can learn)

Still, you can’t ignore his presence (as much as we may try to), and this is the reason he could be more of a genius than we really think or want to give him credit for. When you think about when a brand wants to market its products, services, business, idea, vision, there are a few things they have to do:

  1. Market in a way that cuts through noise and confusion of a very loud digital and distracting world we live in, and get the attention of your audience

  2. Get your audience talking about your product/service/business/idea/vision

  3. Win them over and get them to buy into what you’re selling (and oh boy Donald is a sellin’)

I would say based on these criteria Donald Trump is doing a phenomenal job at getting others to buy into him (even if he sucks at being a presidential candidate). If you are truly honest and objective you would see that he is truly a genius. His over the top, down right ridiculous and crazy approach to politics is turning heads and getting attenion. I haven’t seen this much marketing brilliance since Charlie Sheen’s crazy.

So whether you want to admit it or not we can all learn a thing or two from Donald Trump when it comes to Marketing (PLEASE restrict learning to Marketing):

  • Stand out from the crowd and the norm

  • Don’t be a afraid to be a sprinkle of crazy to get your audience’s attention

  • Sell a message people will buy into

  • Add value to the people who buy into you (I know, I know, I’m saying YOU do this even if he isn’t)

I’d love to know, what do you think: criminally insane or genius?

The Ranter.

P.S.

Just in case you doubt my theory I did a Google search for ‘US 2016 Elections’ (not Donald Trump) this is what came up at the top of Google…trump post

 

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The Negative Effects of not Marketing

 

I think one of the things that annoys me to no end is when businesses market as a last resort, either out of desperation from competition, or as a quick jolt of electricity to their business when it is dying.

By now it should be beyond obvious why marketing is so important in today’s business environment. However, there are still businesses who choose to see it as a cost and not an investment.

1. Desperation from competition- things are going well, everyone knows your name and the locals come to you to satisfy their consumer wants and needs. There’s nothing special about your product or the service provided, but consumers are just content enough to purchase from you. Suddenly a bigger better product and business comes into your space, doing a lot more than you are, adding more value and suddenly you’re running around like a chicken with its head cut off trying to respond to the fierce competition. Even worse you try to throw money in TV, radio and newsprint ads thinking that will put you back at the top, even when you’re target market doesn’t even pay attention to these mediums

2. Quick jolt to prevent death- sales are slow, no one is buying or stopping at your store anymore, instead of taking a proactive approach to increasing sales, you decide to sit back and wait for things to get better. Finally it is evident that things are actually not getting better but worse, and as one final stand you throw out a few ads hoping that will keep the boat from sinking

If any of these sound like you then you’re in serious trouble. Why? Because today it’s not about the best product, but who consumers have a more intimate connection with i.e. your brand. While your living in the past with cassette players and vinyl records, we’re rocking I-pads and watching Youtube videos on our smartphones…get with it! How? Consistent and effective marketing.

Your marketing efforts don’t even have to be costly, and they don’t even have to be limited to Social Media. Your customers just need to hear from you regularly and potential customers just need to know you exist, and you should give them a reason why they should care that you exist…what is your value to them?

Develop the practice of having a yearly, documented marketing plan. As I said it doesn’t have to be expensive or complicated, just relevant to who you’re selling to.

1. Find out what they like, how they want to communicate with you and you with them. It may not be Facebook but rather e-mail, and there are free mail applications such as Mailchimp that allows you to execute beyond effective marketing campaigns…best part is it’s FREE.

2. Develop referral programs that gets current customers to get more customers for you then reward them for their efforts. Give something away to them free, and who doesn’t like free.

There are 3 important things to remember while doing these:

1. Find a way to capture and manage every piece of information of exisitng and potential customers

2. Have a schedule of when you will execute marketing campaigns for the year and stick to it (remember not money but time will make your marketing successful)

3. Find out what resonates with them, what mediums they respond the most to (Facebook, email, text message etc.) and use those mediums to consistently communicate what resonates

We live in a world where the playing field has been leveled in favour of the little guy, don’t waste it by ignoring the universal truth “Marketing makes businesses successful”.

Here’s a great article that supports my point perfectly: Attention Small Businesses: You’re ALL In The Marketing Business

Leave a comment below and let me know:

1. What would you say to businesses who do not market

2. What would you suggest to them

The Ranter.

Posted with WordPress for BlackBerry.

 

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Are You Killing Your Own Business?

There’s an old saying “In order to make money you have to spend money.” Well there’s a new saying “If you want to have a successful business get out of your box.”

Today in such a competitive market where pretty much everyone wants to open their own business there exists little room for chance or for missed opportunities. Everyone wants a successful business right? But you may be killing your business without even realizing, even if you are a big brand that’s been around for years. How you may be doing that is through missed opportunities to improve the level of your business, by ignoring the future of business interaction and communication, or any other area for that matter.

No this isn’t another rant about how businesses are ignoring the power of Social Media. I’m pretty sure that point has been overly stressed for the past two years. They get it, Social Media is a good thing, you can stop now.

This is a rant about even today in such a technological inclined era there are still businesses who are stuck in the old way of doing things. As if that point hasn’t already been proven by the countless other multi-million and multi-billion dollar businesses and industries who over the years failed to move with the crowd and ended up falling flat on their faces…who remembers the railroad era? They ignored the possibility of flight and underestimated the power of the automobile revolution. Well I’m pretty sure Ford, Toyota and Boeing have something to say about that.

Perfect example. Recently I briefly attended a Marketing seminar for University students. There were a lot of companies promoting their products and services to the students. Being a now conditioned salesman my first thought was “opportunity knocks” so I decided to approach one of the companies to introduce them to Enterprise SMS, and how it could further enhance and improve not only their client-communication but also their overall business. Her first reaction was “No not interested”. Again I say being the now conditioned salesman I tried yet again explaining the benefits that SMS offers, especially within their Marketing strategies. Yet again a resounding “No not interested” came from her.

Now it’s important to note that I was not trying to sell her on the product, all I wanted was for her to open up to the possibility and even slightly consider how SMS could benefit the company, even if it wasn’t using our product. I pleaded with her to just consider it; I told her even if she doesn’t spend a dime that’s fine (hey that rhymes). All I wanted her to do was to give me the chance to open her eyes to the possibility. If after she felt that it wasn’t for the company I would forever leave her be. Yet still she refused.

In her mind what the company had been doing has worked for them over the years and she doesn’t see why she should consider implementing SMS. Now a thought like this in any business is dangerous play. Never be so closed-minded to the opportunities that exists around you that you will only end up sabotaging your business in the end.

I was not trying to sell her on the product, what I was trying to sell her was that the future of business communication existed within SMS, and just as how leading up to 2008 many businesses ignored the power of Social Media and are trying to play catch up now, so they may soon be doing with SMS. Brands such as Starbucks, Coca-Cola or Red Bull are not necessarily extremely successful in Social Media because they are the best at it. They are successful because they were the first at it. The Innovators and not the Late Majority or Laggards. Just the same the company will be forced to play catch up or be forced out of business by still ignoring the opportunity for business growth that exists right in front of them.

Many businesses of the past failed because they failed to move into the direction, and with their customers as they were moving. This is why it is important to constantly keep abreast of trends within and out of your industry to have a competitive advantage, to be and continue being successful. Successful brands know that there is no such thing as remaining the same forever. They know that they have to constantly reinvent their brand and business in order for it to evolve and stay relevant and interesting to their target market.

You should do the same and not fall into the trap of stagnation and destruction of your business.

What’s your take on it? Leave a comment below to let me know.

The Ranter.

 

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3 Ways to Kick Your Competition in the Nuts

While having a drink with one of my friends we began talking about his new business venture. He was preparing a proposal for a potential client and wanted my input on what exactly to include. Then he mentions while doing his updated market research he discovered a new competitor. This is why it is wise to do consistent market research on new trends, potential customers, and unforeseen competitors, but that’s a post for another time.

Today we will be talking about the very same advice offered to my friend, which will not only help you gain the advantage over competitors, but also how to win customers over the competition.

1. Take your competitors strengths

Examine what your competitors are doing now that makes them superior to your business, or that wins them customers. Adopt it, improve on it through your own creativity, uniqueness, and innovativeness, and implement for your business. This way you’re using their strengths to become stronger than they are, and constantly outdoing them. After you have done that be sure to highlight these new found strengths in all marketing efforts.

2. Exploit their weaknesses

Identify your competitors’ weaknesses. Find out what makes these their weakness and then find ways to take their negative weaknesses and turn it into your positive strengths. This way you’re become strong in areas they are weak, and are doing things they can’t do, which surpasses them. Here’s the final trick: it’s not so much to identify their weakness and use it to your advantage, but you must highlight these weaknesses to your customers and their customers, and show how your business succeeds where the competition falls short. Basically you are giving the market a reason to choose you and not your competitors by highlighting their weaknesses and making them look inferior in comparison to your business.

3. Do what they aren’t doing

There are a lot of businesses who are stuck in their old ways of doing things, they figure if it’s been working all these years why change? Here’s where you can gain the advantage. Today’s marketplace(customer behaviour, competitors, tech) is changing so rapidly having the “If it aint broke don’t fix it” mindset is a sure formula for inevitable business failure. Therefore, look at what your competitors aren’t doing or refuse to do that you can use to improve your business. A great way to uncover unconventional, new ideas is to examine things that other businesses in other industries are doing that works for them that aren’t being done in your industry and use it to your advantage. Sometimes the best ideas come from the places you least expected. Be sure that it can fit within your business model and aligned with your business objectives without disrupting what is already in place.

There you have it, using these methods of competitive analysis is sure to give you the competitive advantage.

Also, ensure that this is done for ALL competitors, even the little, seemingly insignificant guys. You’d be surprise how a little guy can turn into a multinational, multibillion dollar brand…just ask Walmart.

The Ranter.

 
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Posted by on March 5, 2011 in Competition

 
 
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