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Paul the psychic Octopus and Marketing for SMEs

https://www.youtube.com/watch?v=Rv3ZeoHICQ0
We’re sure you’ve all heard of the remarkable tale of Paul the clairvoyant octopus, who correctly predicted the winner in all 8 of the matches he was prompted to, at this year’s World Cup.

Whilst his feat is certainly unlikely and many seem convinced of his psychic abilities, the cynic in us here, feels fairly confident that it was merely coincidence.

But what has psychic Paul the octopus got to do with marketing, I hear you ask?

All too often, SMEs leave their marketing success to chance. They might as well let psychic Paul loose with their marketing budget and see what happens. Would you feel confident in putting your marketing fate into the ‘tentacles’ of a clairvoyant Octopus, regardless of his past success at predicting the future?

If the answer is yes, then good luck to you. If it works, you’ll have a great press release on your hands! However, for those of us that would like a more stable foundation on which to make our marketing decisions, there is no substitute for proper marketing planning and preparation.

We keep shouting about it and that is because we believe that investing time, energy and money (sometimes) in this area will reap significant rewards down the marketing road. SMEs are notoriously keen to shun planning and preparation, in favour of pursuing ad hoc business interests. This attitude is a major factor in why many businesses are finding their marketing does not deliver the return on investment they expect and their business needs.

So what can you do about it?

3 crucial areas that you need to know about before you embark on any marketing campaign are:

  1.  What is your market? Not what you think it is, but actually research who your service / products appeal to? You may be surprised at some of the market segments that are interested in what you do.
  2. What are your customers / potential customers’ needs? Why are they buying / would they buy your products or services? What needs are you satisfying?
  3. Who are your competitors and what are they doing? Again, not just those you are immediately aware of. You need to research a bit further, consider your indirect competitors too.

Only once you have this information as minimum, should you consider formulating a marketing plan.

It has been proven that there is a direct link between the long-run profitability of a business and its ability to get a clear understanding of its customers’ needs. It makes sense really, if you know what someone wants and why they want it, it should be fairly straightforward to offer a service or product that meets that need.

The crucial next step is giving them a reason to get it from you. Here’s where knowing what your competitors are up to becomes vital. Armed with this information, you are in an ideal situation to position your company’s offering in a unique and competitive way that creates a compelling case for why your customers / prospects should use you.

As the old adage goes, fail to plan and plan to fail. This can certainly apply to marketing. A bit of planning and preparation will significantly push the odds of marketing success in your favour, giving you facts and figures on which to make your marketing decisions rather than the whim of a psychic octopus called Paul in a German aquarium.

Free Marketing MOT for Hampshire Businesses
As part of our quest to get SMEs planning their marketing more, TLC Business allocate a limited number of free marketing MOTs to businesses based in Hampshire that want to improve their marketing’s performance. Many businesses have benefitted from one already so don’t delay and book your MOT today. Visit our marketing MOT page for more information.

Guerilla Marketing for SMEs

The concept of Guerilla Marketing has captured our attention this month. It inspired us to create our ‘Gorilla Marketing’ concept and remains a strong influence on our marketing philosophy. We thought it would be interesting to explore the concept closer and outline how the ‘guerrilla’ ethos could be employed in your business’ marketing, whilst staying the right side of the law!
Guerilla Marketing – a definition

The term ‘Guerilla Marketing’ was coined by Jay Conrad Levinson in 1984 to define a form of marketing that took its inspiration from ‘Guerilla’ fighters in combat.

Mr. Levinson states that the ‘soul and essence of guerrilla marketing’ is in:

“Achieving conventional goals, such as profits and joy, with unconventional methods, such as investing energy instead of money.”

Inherent within the term are the obvious connotations of a ‘David versus Goliath scenario’, with the smaller, more agile entity, competing against it larger and wealthier competitor/s, utilising unconventional and less costly methods of marketing to engage with their target audience.

Equally relevant, is the relationship between the guerrilla marketer and the landscape in which they operate. ‘Guerilla’ fighters traditionally utilise their superior knowledge of the land to gain an advantage over their less knowledgeable counterparts. They live, breath and sleep the land and therefore have a deeper understanding of it and can use this to their benefit in combat.

Guerilla marketing – the implications for SMEs
Extending the analogy of guerrilla warfare into the sphere of marketing and business has great potential for SMEs.

Typically, SMEs have far fewer resources available to them than their larger corporate competitors. In the battle to engage with their target audience, SMEs can’t compete by pouring money into elaborate and expensive marketing campaigns. Instead they need to invoke the ethos of the guerrilla fighter and think differently, unconventionally and leverage their greatest assets, their size and closeness to the land, in this case the marketplace in which they operate.

SMEs often command a far greater understanding of their immediate marketplace. They can enjoy close relationships with all their clients. Management are never far from the customer and can listen to and interpret their needs and respond quickly to demand, without the need to navigate through the extended chain of command that exists within their larger competitors. Perhaps the SMEs greatest weakness, its size, can also become its greatest strength. Lower overheads, the ability to respond quickly to changing market conditions and the entrepreneurial spirit inherent within the SME can give the organisation an edge over the larger players in their marketplace.

Guerilla Marketing – how it works
Guerilla marketing involves investing energy and imagination, rather than money into your marketing. It is about capitalising on the landscape in which you operate to its maximum potential and employing human psychology to promote greater awareness of your business, products and services.

Guerilla Marketing was invented for SMEs and entrepreneurs. It is incredibly effective in local or regional markets.

The objective is to create a buzz about your product or service, to make it remarkable, unusual, noteworthy, standout and imaginative. The essence of guerrilla marketing is to get your target audience talking about you and generate word-of-mouth referrals from there.

As with most marketing, the smaller the group you target the more effective the marketing.

Whilst being unconventional is crucial, it is important you stay the right side of the law. Graffiti and street stunts are commonplace in the guerrilla sphere but could see you gain press for the wrong reasons, as you fall foul of the law.

Perhaps most importantly, a sense of humour is vital in Guerrilla Marketing.

It is easy to take oneself too seriously, so make sure you have some fun with it.

To give you some ideas, here’s a few examples we like.


Taxi sign – Guerilla marketing by mediafun

STOP Traffic This Autumn

We here at TLC Business have previously mentioned that ‘Gorilla Marketing’ remains a strong influence on our marketing philosophy. If used effectively, Gorilla Marketing can add a buzz to your brand and make a product or service worth talking about.
Last week, Oxford Circus was brought to a standstill, not only by the traffic but by the powers of the fashion industry.  Commuters and shoppers stood in amazement as they witnessed a Halle Berry lookalike abseil into Oxford Street dressed head to toe in high street fashion, providing onlookers with a ‘Vertical Catwalk’.

This unique stunt was to promote the beginning of the second week of High Street Fashion Week, featuring retailers such as French Connection and H&M. Last Year the event kicked off with a catwalk on a tube, this year they took to the skies, so what will next year bring?

This is an extreme case of Gorilla Marketing and due to health and safety restrictions we do not recommend dangling your product or colleague off a building to promote your brand; however we do believe that adding a fresh, creative aspect to your marketing can provide you with the results you desire.

Here are some great examples of how different organisations have used Gorilla Marketing to create a brilliant PR spin for their brand:

Puma created a breakout of fashion onto the streets making the sports world stylish with a successful Gorilla Marketing concept.

Mini in the Netherlands came up with a quirky way of promoting the Mini Cooper by littering the busy streets of Amsterdam with over sized ‘mini boxes’.

Unique online jewellery and fashion accessory company Boticca staged a flash mob in Portobello Market Notting Hill.

Like any marketing, Gorilla Marketing can go wrong. We believe that the preparation stage of any marketing concept is vital and when not researched and implemented properly, brilliant marketing campaigns can flop.

The major fashion brand DKNY produced what looked like a fantastic Gorilla Marketing campaign by placing neon bicycles around New York City in an effort to promote their brand, as well as the eco friendly way of transport.  The BMX bikes were covered in bright neon colours with the DKNY logo in contrasting black. The marketing concept did not receive the feedback you would have expected from a high profile brand; the bikes that weren’t removed by the police due to being illegally chained to trees were picked clean for spare parts and left by the side of roads as litter. Not a great message for a luxury brand.

If you are a retailer or a business that feels the need to inject a bit of creativity into your marketing, then get in touch. The TLC Business team can help you create a campaign that stands out from the crowd and gets your business noticed for all the right reasons. Take advantage of our 15% off any campaign offer in September and make your brand work for you.  Contact us on +44(0)1962 600 147 or email Anna at anna@tlc-business.co.uk

 

Monthly Marketing Tips

Septembers Top Marketing Tips

  • The Hampshire Business Directory is now available for the reduced price of £180, offering a 10% saving. This offer is available until 30 September 2010. The directory contains key business information and contacts that can be used to develop your sales and marketing campaigns.
  • CompeteFor is a free service that enables businesses to compete for contract opportunities linked to the London 2012 Games and other major public and private sector buying organisations.  CompeteFor is free of charge; over 1000 Hampshire companies have already registered with the service.
  • Logo Design Love: A Guide to Creating Iconic Brand Identities. Created from his popular blog, Irish graphic designer David Airey fills each page of this book with brilliant logos and real world anecdotes as well as 25 practical design tips to help you create a brand identity that lasts.

    Monthly Marketing Tips

October’s Top Marketing Tips

  • Sometimes it’s not easy reading through books looking for the perfect answer to your design query. If you struggle to find inspiration; here is a great book to add to your wishlist. The Non-Designers Design Book is a great tool for helping you create flyers, business cards and teach you all about type. This book lets you in on all the tips and secrets that professional designers use on a daily basis.
  • This October’s top tip maybe not help you with your marketing but it’s some great advice none the less. Some things are too good to lose, especially if you’re a small business.TagBak UK, the innovative UK lost and found solution, will move heaven and earth to get your lost possession back to you in less than 24 hours of finding it. Protect your possessions with TagBak UK.
  • Get a clear overview of your Twitter stats using Twitter Count. Track statistics of more than 100 million Twitter users, using this free and easy tool.

Top Marketing Tips For November

  • Save the Words, a clever new Website from Oxford University Press. The makers of the Oxford English Dictionary have developed the site based on the simple idea that a word won’t die if it gets used often enough. Each year hundreds of words are dropped from the dictionary, make a change and adopt a word today.
  • Guerrilla Marketing on the Internet: The Definitive Guide from the Father of Guerrilla Marketing. Jay Conrad Levinson changed marketing forever when he unleashed his marketing tactics for surviving the advertising jungle on a budget. Learn how to use the internet Guerrilla style.
  • GroupTweet, is a website where you can create a community that privately shares tweets. Think of it as an ongoing Twitter conference call, a great way to keep in touch with people working on the same projects.