All You Need to Know About Advertising/Marketing in 3 Sentences
1) Become non-fungible.
2) It’s only expensive if it’s not working.
3) You can’t always tell if it’s working or not….at least not right away.
Amplification:
To be fungible is to be a commodity. Think sugar or salt.
If customers see your business as fungible, it’s a roll of the dice–or matter of price–whether they buy from you or the competition.
Use advertising/marketing to make yourself non-fungible–and customers will see that buying from you is the only way to get what you’ve got. You’ll also be insulated from price competition and customer stereotypes about your field. Skeptical? Think Diamond Sugar or Morton’s Salt.
It’s true that advertising/marketing costs a lot of money. Money that can be especially hard to part with during difficult or uncertain times. But, when it’s effective, it returns many times its cost in greater sales revenue and paves the way for future growth.
There are many reasons why it’s hard to tell–especially in the short run–if your program is working. It takes time and repeated impressions to establish a beachhead for your business in customers’ minds. Maintaining or expanding your territory there requires continual exposure to your message. Without realistic and meaningful goals, you’ll have no way to evaluate success. If immediate sales are a goal, you’ll have to think about factors such as buying cycles, the offer, the audience, etc.
For superior, long-term results, advertise/market to establish a marketplace niche where there’s no one else.
For over three decades, Peter the Publisher has communicated professionally for national associations, fortune 500 companies and Mom & Pop clients. The Business Solution Group, which he founded in 1989, provides custom publishing, marketing and advertising services to businesses and organizations throughout Florida.
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