Featured Newsletter

Pull Your Own Weight :: The Client's End of the Deal

By now, hopefully you can tell that we try to provide un-biased and helpful marketing advice. This month however, we’re covering a topic that might have some sting to it if you find yourself guilty of not holding up your end of the bargain. It’s easy to think that hiring an agency is the one-stop, fail-safe solution to all your marketing problems; but, as we’ve hinted in previous newsletters, involvement from the client’s side is vitally important to the success of your marketing endeavors. Following are some of the most important areas to be mindful of.

Good Design is Good Business!

Consider for a minute the number of graphic images you come across in a day. Each morning you’re greeted by the product labels on your tube of toothpaste, shampoo bottle, shaving cream and cereal box. As you make your way to work, hundreds of messages will compete for your attention – signs, company vehicles and radio advertisements. Your day will continue with a flood of other visual messages coming in the forms of brochures, letterhead, direct mail, websites, etc.

Now, ask yourself, why do you notice some messages and not others? Why did you choose Crest instead of Colgate? I’d venture to say it had something to do with good branding affecting your perception of the product, and likely good design which visually drew you to the Crest box instead of Colgate.

Can you speak the lingo?

Test your marketing jargon:

1) Times New Roman is a sans-serif typeface.

[ ] True

[ ] False

2) CPM stands for which of the following?

a) Capturing Permanent Messaging

b) Cost Per Thousand

c) Cost Proficient Marketing

3) What is a double-truck?

a) There is no such thing as a double-truck

b) A semi pulling two cargo trailers

c) Two full facing pages in a newspaper layout

Proper Prior Planning...

Ask yourself: if you were planning an extensive cross-country vacation and had several key stops to make, wouldn’t you bring a road map along? Essentially, a marketing plan is a roadmap for your business – and if you don’t have one, this is likely the first reason for un-attained sales goals, fragmented branding and more.

Process :: Does your agency have one?

Referring to our January 2007 newsletter topic, choosing an agency, process is one of the most important factors to consider when choosing a marketing firm to work with.

Why?

Process makes work specific and disciplined. You should be working with a firm that specializes in marketing for your industry. Beyond that, they should have a process that takes into consideration the subtleties of that industry in a way that a blanket approach cannot.

Marketing in a Downturn

In this first quarter of 2008, the economic pulse of our country is far from vigorous. Home prices are falling, energy costs are rising, and consumers and Wall Street alike are feeling the crunch of the credit squeeze.

For those in the real estate development and hospitality sectors, this might seem the perfect time to batten down the hatches, slash expenses and hold on until the economy improves. And sure, it is always wise to examine inputs and outputs to see where you can streamline your company’s performance. But resist the knee-jerk temptation to reduce your marketing budget. Many marketing experts consider recessions and slowdowns to be the perfect time to boost your investment in advertising and marketing.

The Role of Branding, Part II: Developing your Brand

In the marketing business, it is a well known fact that premium brands generate more revenue than comparable products that lack brand mystique. As a result, branding done right, and in many cases, branding done even half right, delivers a healthy return on a company’s investment.

If you want to elevate your product from hotel to The Peninsula, from mattress to Stearns & Foster, from lobby chandelier to Dale Chihuly installation, you need to develop your brand – or, in other words, purposefully create a distinctive and positive connection to your product in the minds of your customers.

In this newsletter, we’ll look to the branding gurus for real-world advice on three critical tools that can power up your business: managing the seven elements of branding, building brand equity, and evaluating brand performance.

The Role of Branding, Part I: What is Branding and Is It Really Necessary?

"A brand is a living entity, and it is enriched or undermined cumulatively over time, the product of a thousand small gestures." - Michael Eisner, former CEO of The Walt Disney Company

Do you want your customers to choose your product over others, recommend your company through word of mouth, and return for another purchase? If you’re in business, of course you do. But to attain this level of customer loyalty, your company must invest in branding.

Just what is branding?

Getting the Best from your Agency

If you’ve read our newsletters up until this issue, you have a basic understanding of how to set your marketing budget and choose your agency. Now it’s time to establish the kind of working relationship that will enable you to get the best from your agency.

For your company’s marketing campaigns to be successful, a collaboration between you and your agency is essential. Here are some tips to ensure a productive working relationship.

Setting a Marketing Budget

Marketing – recruiting new customers and keeping existing customers – is a key driver of business success, regardless of industry. For developers in a soft real estate market, an effective marketing strategy is even more crucial. To reach your customers and make those vital sales, your marketing budget needs to be up the task. After all, if you don’t invest appropriately in getting the word out, it doesn’t matter how much money you have poured into your product – your target market won’t be there to buy.

Just how do you determine the best marketing budget for your needs?

Choosing an Advertising Agency

Tom is a hotelier who has just renovated his boutique property; he wants to spread the word about the new amenities for business travelers. Susan’s development company is launching a new residential community; she needs to narrow her target market to reach potential buyers.

When companies decide to work with an advertising agency, their motivations may differ but the core reason is universal: to become more profitable. If your organization is considering hiring an agency, read this article for some useful tips – they just might improve your bottom line!