by Doug Muldoon
Settling on something for reasons of convenience is an all too common practice. Have you ever stood in front of the mirror at the clothing store, looking at a new outfit, knowing it's not exactly what you wanted, but you purchased it anyway? Not surprisingly, the last time you wore it was the day you bought it.
Let's face it, we have a tendency to settle. It's almost human nature. We settle for something that's not just quite right, an outfit that isn't our best look, a job that doesn't maximize our talents or an ad or website page that's okay or just "good enough." While compromise in life, relationships and particularly conflict is an admirable trait we all could improve upon, compromise or "settling for" in marketing is a death knell.
You see, the whole point of your marketing, advertising and promotions is to get noticed. You want your marketing programs to capture attention, to create awareness, understanding and, most importantly, desire. They need to positively engage with your audience. This is the fuel that builds your business, drives customers to your store and generates sales. So, if you are "settling" for marketing that is uninspired or is the same old, same old, chances are your efforts are failing. You're not getting the results you need and it's costing you money.
Over the past number of years, I have noted quite a few instances where natural health retailers have settled for mediocrity. Alas, this marketing mediocrity is not all-too uncommon and was probably born as a result of many factors, including financial or time restrictions, bad advice, lack of effort or lack of understanding.
This is probably the most common mistake a retailer can make and this non-activity may qualify as the height of mediocrity. By failing to actively market to current and potential customers, a retailer suffers the variable whims of the economic climate. As we have seen in the past year, a tough economy means diminished sales and far fewer customers. Doing nothing also leaves you at the mercy of your competition. Your competitors are advertising because it is bringing in customers and generating sales. Some of those customers shopping at your competitor's store may have been your customers at one time.
And what about new stores opening up in your market? Research indicates that well-established supplement stores will realize an on-going 15 to 30 per cent loss in sales following the opening of a chain or discount vitamin store in their area or town. A well-organized marketing program can mitigate those losses (and customer loyalty woes) but as many retailers have discovered, your marketing is only effective if it is established before the competition moves in. Today is a good day to start.
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Advertising legend David Ogilvy once stated, "On average, five times as many people read the headline than the copy. When you have written your headline, you have spent eighty cents of your dollar."Â I am always surprised to find retailers who are willing to spend the money on advertising (bravo!) yet fritter it away by "settling" for their store name as the ad headline. This, I believe, is motivated by the mistaken idea that you 'need to get your name out there.' Utilizing your store name as the headline may help to promote your store as a brand but, in doing so, it absolutely neutralizes the effectiveness of your ad.
Imagine if you will, a full-page ad of natural health products featuring a headline that provokes consumer interest such as "Improve your Health" or "Unbelievable Savings!" versus that same ad that limply states, "Your Store Name." The first headline is likely to generate interest and readership. The latter headline is only relevant to readers familiar with that particular store. In numerical terms, an ad with the store's name as the headline, printed in a newspaper that has a circulation of 50,000 readers attracts the attention of only 25 per cent of the readers (natural health shoppers familiar with the store name). Furthermore, according to David Ogilvy, only one fifth of those readers (at most) will go on to read the ad. When you add it all up, the retailer's ad using their store name – instead of a creative headline – reaches a maximum four per cent of its potential audience.
An advertisement's headline is a unique opportunity to employ some fantastic creativity. You can use this creativity to generate readership with consumers who may not currently shop at health food stores and, most importantly, to get readers (new and old alike) to stop and pay attention to your message.
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Twitter and Facebook are also known as conversational platforms. When was the last time you said to a friend, "Buy 2 and Get One Free" in a conversation? Using social media as a substitute for consumer advertising is bound to fail. These media tools are designed to be interactive and are most effective when used as such. Unfortunately, many organizations do not dedicate the time or effort to write creative, informative, and interactive messages. The end result is often a mish-mash of sales promotions, reconstituted content from other sites or diatribes of some sort.
Social media messages work best if they are entertaining, fun and, most importantly, if they are reciprocal.
Clearly, whether it is investing in advertising, developing a little more creativity, spending the time to follow-up or making the effort to engage with your customers, you can easily elevate your marketing to where it needs to be. And anyways, who the heck wants to settle for second best, or worse, be recognized as mediocre? •