I was hooked instantly. Marketing 101 at the University of Utah was what launched my formal interest in the world of marketing and advertising. My professor talked in simple terms, sharing core principles that I’ve never forgotten and that I use to this day.
Understanding the basics of marketing are a look into the life of your potential consumer. First, you need to understand who the person is and the problem they are trying to solve (the Market). It could be a manager struggling to find solutions to keep a highly valued employee from quitting (perhaps something like Jhana could help), or a teenage girl who is looking for a modest prom dress (they actually exist!).
Once you understand who you are trying to reach, and their circumstance(s) you can look at how you talk with them (the Message). I’ve subscribed to Geoffrey Moore’s formula of building an effective value proposition in his book Crossing the Chasm (a must read). It’s a simple template that gets right to the point.
For ____________ (target customer)
who ____________ (statement of the need or opportunity)
our (product/service name) is ____________ (product category)
that (statement of benefit) ____________ .
As an example:
For content marketers
who are struggling to find proven methods of lead generation in their industry,
our service is the first open-collaboration library of marketing strategies and tactics
that break down results by target segment.
With your target market and your value proposition in place, you can start looking at the communication channels to reach them (the Media).
It seems that everyone jumps to this step first. Big mistake. You want to understand what establishments your prospects frequent—Facebook, LinkedIn, YouTube, the New York Times, Interstate 15 between Las Vegas and Barstow—and then build your communication strategy. This will save you time, money, and a lot of wasted resources.
Market. Message. Media. These are some of the basics of marketing that I’ll be exploring in depth in future posts.