Did you know that the primary purpose of marketing is to generate demand? Although it may seem obvious, it is crucial to highlight the specific wording “generate demand”. Many people immediately associate marketing with the word “selling” or “sales”, but marketing’s essence lies in the “how” – specifically, how to generate demand.
In our initial discussions with new clients, their primary concern often revolves around the size of their marketing budget and the necessary expenditure required to achieve a return. Often this concern is attached to an already existing feeling of defeat, as they perceive their budget to be significantly smaller than that of their top competitors, putting them at a disadvantage.
Here’s the good news: the key to effective marketing, regardless of budget size, lies in leveraging your company’s unique qualities. By focusing on what sets your brand apart and exploring resourceful ways to maximize your budget, you have the potential to achieve even greater impact than competitors who often rely solely on pouring large sums of money into many advertising channels with varying messages.
So – let’s shift the focus away from the size of your budget for now, and instead devote time to the three steps below to build a marketing strategy around differentiation to generate demand and increase the return on your future marketing dollars.
Step 1: Pin Down Your Differentiation
It’s crucial to define what makes your business unique in order to create a compelling value proposition that guides your marketing messages. Start by identifying your unique selling points, whether it’s leading your industry in technology, superior customer service, a niche market focus, or a combination of factors. Take the time to assess your strengths and the specific attributes that make your business truly exceptional. This knowledge forms the basis for effectively communicating your differentiation to potential customers.
Step 2: Map Out the Buyer Journey
To effectively communicate your differentiation, it’s essential to understand the buyer journey. Map out the various stages a customer goes through from initial awareness to final purchase. Consider the touchpoints where your business can influence their perception and decision-making. By understanding this journey, you can strategically position your differentiation at key moments to create maximum impact.
Step 3: Create Touchpoints for Each Step
Once you’ve reached this point, it’s time to create touchpoints that will reflect your differentiation. Develop cohesive marketing actions that leverage various channels such as your website, social media platforms, email campaigns, and content marketing. Each touchpoint should showcase your unique value proposition and reinforce why customers should choose your business. Consistency across all touchpoints is crucial to avoid confusion, build brand awareness and reinforce your differentiation.
Effective marketing goes beyond the size of your budget. It’s not about outspending your competitors; it’s about outsmarting them by building a strategy on differentiation. Let these steps guide the construction of your marketing strategy, and know we’re just a quick Cat Chat away should you find yourself still stuck in the chaos of marketing’s most challenging questions:
- What to do now?
- What to do next?
- How do we pull it all off?
Nicole Hayden,
Marketing Strategist + Client Relations | CreativeCat.Co
