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Friday, April 13, 2007

KNOWN MARKETING BASICS

At Known we employ a very simple approach to marketing. Define a single clear message that engages the consumer and request them to do something. This idea should be able to be executed through any communication channel and through any medium. The marketing message can be broken down into four parts.

1. The Benefit

To market a product or service effectively it is essential that we find a single defining quality that separates it from the competition. We call this the benefit. To find the benefit we must look hard at the product or service and distill through examination and research the primary motivator that will cause people to engage with the communication.

2. The Features

Like all business people though we like to talk about all the great things our product can do and we do not deny you this, we like to group these things into what we call 'features'. By including features we can give a potential customer evidence to convince them the product is what they want.

3. The Motivation

By separating the benefit from the features we allow the customer to focus on an emotive reason to purchase such as 'buying this is going to make me look great'. In fact looking great is the most powerful motivator to purchase. In the words of Steve Jobs 'its not how your product looks that matters but how it makes your customer look.'

There are seven powerful motivators that we use to get responses:

  • Scarcity - people must think it is hard to come by
  • Likeness - people buy from people they like and are similar to
  • Social proof - are other like me using it too?
  • Reciprocation - people will buy if they get something extra
  • Authority - be known as an expert, publish industry standards
  • Commitment - demonstration of consistent delivery (of brand too)
  • Consistency - people notice inconsistency and they do not trust it

4. The Action

All good marketing communications ask the viewer to take action immediately. If the communication has no action then the opportunity to engage the consumer will most probably be lost. Actions generally take the form of store visits, phone calls, emails, website visits and sms messages.

posted by Brad Down at 4/13/2007 06:17:00 PM      

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