Wednesday, January 20, 2010

Market With Meaning

How can your business transform itself into being remarkable? Below is a Hierarchy of Meaningful Marketing that consists of the following three levels (based on Bob Gilbreath's book,  The Next Evolution in Marketing:):
  1. Solution marketing: Free offers, cash savings and loyalty rewards that offer customers real solutions to their problems. "A free sample is a no-cost way for customers to experience your product or service," Gilbreath says. "'Free' tends to make people feel compelled to like your product, and usually the cost is very low."

  2. Connection marketing: Online videos, interactive games and social networking that connect customers with the brand. "Entrepreneurs already know their customers well and have a right to earn a place on their 'friend' lists," Gilbreath says. Examples: One deli announces the daily specials to office workers at 11 a.m. when they are beginning to think about where to go, while a pet boarding service uses Facebook to share updates and pictures with pet owners while they are away.

  3. Achievement marketing: Online courses, free seminars and cause-related marketing that let customers actualize their potential as human beings. "When done in a way that clearly links to your business and is something your customers care about, cause marketing can significantly drive your sales," Gilbreath says. "For example, Amy Adam, a real estate agent in Cincinnati, donates a percentage of her house closing fees to the charity of her customers' choice." Much of her new business is attributable to her campaign. Besides strong post-sale satisfaction levels, "She's [gotten] specific comments from customers who like the idea and have never heard of something like it before," he says