Gaining Marketing Knowledge

Someone once told me, “The only thing in this world no one can take away from you, is knowledge!” In today’s society, this has proven to be the most vital quote to live by. You always need to be learning and adapting to stay ahead of your competition as well as earning new business.

When it comes to business, of course there are several different ways to gain new knowledge. You can read a book, listen to an audiobook, attend a seminar or conference. Then there is also take extra courses at a university. All of these are great! I recommend each one. What about marketing? What do you do to gain insight into this?

There are 2 great ways to gain insight into marketing that I feel are the most beneficial. Once is analytics of your marketing efforts. This is going to show you how you are doing with what all you have already done. If you do a campaign that is triggered when someone expresses interest in a specific product, does it perform better or worse than when you send an e-blast to everyone in your mailing list? Also knowing which social media platform is yielding the best results. Each analytic, if obtained and observed properly, will take you down a path of success.

Then there is my favorite, listening. My favorite way to research marketing techniques, is simply listen to the radio. My favorite would be car commercials. Now, guessing you are a little confused. Who listens to these? How can this be beneficial to listen to potentially annoying commercials on the radio. Here is your answer: Each one is carefully designed to get your attention and deliver a message. I am certain you can sing along to a jingle, easily recite a commercial, or even think of one this very second. It would be safe to guess you have one in your head right now.

Now, take that radio commercial, and I want you to write answers to the following questions:

  1. What is the target audience? (You can not write down everyone, be specific!)
  2. What is the purpose of this commercial? Is it to attract you to the business or a product? Or is it to inform you of a sale/event? Features/benefits of a product? Or is it simply telling a story, or the experience you would have using this product?
  3. How often do you hear this commercial?

Here is an example for you: The classic annoying car commercial.

This commercial contains 2, maybe 3, individuals mimicking voices of well-known individuals. Almost a parody. Some of my favorites include “George” and “Billy”. If I remember correctly, this began on a Presidents Day sale a few years ago. If you live in Tuscarawas County, Holmes County, Stark County, Summit County, or anywhere close, you know exactly what I am talking about. Well, that is if you listen to the radio. During the skit, they focus on one detail that separates them from the competition. The commercial that is sticking out in my mind is when they have the promotion that there is “No Hard Credit Pull” and you can drive home with “Nothing down”. As I typed it, I heard it in my head from the voice of “George”. Now that I have described the commercial, let me answer the questions.

  1. The target audience would be the individual who may have poor credit and can’t afford a large down payment. Of course, the target audience is also looking to purchase a vehicle.
  2. This commercial is designed to grab your attention and deliver a message to attract you to their promotion. They want you to pay attention to the message, so they set it up as a skit. The message is both of a product, as well as why it is crucial you go to them to purchase a vehicle (no money down and no hard credit pull).
  3. By playing their commercials as many times as possible when the prospects are on the way to work or leaving work. And since most people work during the dayshift (9-5), they double up on 7-9am and 4-6pm. Attempting to attract you to their establishment to purchase a new vehicle, while you are already in your current vehicle, is genius!

 

After you answer these, answer one last question. How can you take this information and integrate into your business?

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