Wednesday, November 2, 2011

Diamonds are a business owner's best friend

Listening to the advertising in the run up to the holidays got me thinking about all those diamond ads.  You know them, don't just judge a diamond for its weight or size (carats), be sure it has the right balance for you (or your girlfriend/wife) - you know, the 4 Cs


So as a marketing nerd, I thought about how this could relate to marketing, an easy to digest way to think of how to position and speak about your company.  Think of how your company and brand are reflected through these few words and how you can deliver something that's just as irresistible.


 Cut
I think of it more like the pirate phrase - the 'cut of your jib'.  You can think of it as 'personality'.  Take a look at your company from the outside, and try to see how well you can answer these questions: What is the personality or brand for your business or service?  Do you cater to a higher end clientele, or are you more Main Street retail?  How is your business positioned to stand out from the background of others offering the same or similar products or services?  what is the Promise you deliver to your customers so they connect with you (great service, prices, insight, etc)?

Your business should be 'cut' in a way to clearly convey the value of your company's brand.  If it doesn't, it may suffer from being too dull to stand out.

Clarity
Think about how clear your messaging is to your customers and future customers.  Is it easy for someone outside your business to understand what it is you do and what you are offering? Can they understand how to connect with you and how you are 'like' them?  Do you suffer by trying to be too much of an everything and end up being a nothing?

I often work with companies that want to be a premium retail brand but want to also get out to the masses on the cheap - like using Valueads or some other market saturation product.  If you have a premium brand, know thy customer, and spend the time and effort to go to them, otherwise your brand may suffer.  Think too how you offer discounts, work your business messaging (don't change too quickly form one campaign to another).

V8 Juice can help with explaining market clarity:  They are clearly known for being a healthful drink, full of vegetables, a product of the Campbell's Soup Company.  When they first went to market with their fruit drinks, the customers' response was unanimous: "Yuck - fruit and Vegetables together?"  The V8 brand couldn't shake their vegetable past, and any move from it was unclear to customers.  Since, the company has spent a small fortune to build the FUSION brand to sell smoothies in bottles - which ironically have the consistency of their vegetable juice.

Color
Does your business have a consistent use of color?  Color is an important consideration for business brands and connecting with customers.  Ever notice how almost each rental car company is a different color (Hertz-Yellow, Avis-Red, National & Enterprise-Green, Alamo, Budget & Thrifty - Blue).  In a crowded, commoditized market, color is usually one of the most important drivers to connecting with customers.   

Whatever your industry, having a consistent color scheme defined as part of your brand will help to reinforce your messages and advertising.  Don't pick too many - try to define three major colors of your brand and define when and where they are used.  Then look through all your collateral and build a strategy to make this more consistent.

Carat or Content
What you say and where you say it is very important.  We know this to be true in our personal lives, but often forget to keep this in mind when speaking as our businesses.  You don't want to get into a lengthy treatise about the rigors of FDA clearance on your facebook page, just like you wouldn't do in a letter to your mom.  

Think of where the weight of subjects best fit with the medium you are using.  Tier your media and map out what you will communicate at each level.  On your website or blog you might provide a case history and demonstrate your expertise on a particular subject.  On facebook, you may want to comment on a new industry standard or a new scientific article in your area of expertise.  On twitter, you may just want to let followers know what you are up to, and where you just found some good information yourself.  

Content though is key - you need to have a marketing plan that incorporates development and distribution of content to your customers and future customers on a regular basis.


I could go on, but these are a good 4 - Cut, Clarity, Color, and Content (Carat).  think of your business as the diamond in the rough - it is up to you to make the right decisions to make it a sparkling beauty.