How to Think Like a Marketer
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” ‑- Peter F. Drucker“Business has only two functions – marketing and innovation.”—Milan Kundera
Many people say that they hate marketing. That’s usually because they think marketing is all about advertising and sales.
Marketing is a process, not an event. It involves research, promotion and distribution as well as advertising and sales. But perhaps the most important, and most overlooked, aspect of marketing is having the right marketing attitude or “marketing mindset.”
When you have a marketing mindset, no matter what role you perform in the organization, you ask how you can build awareness among customers and clients about your products and services.
Having a marketing mindset also means that you strive to become a profit center. For instance, if you cost the company “x” amount in terms of salary and benefits, then your work output would be contributing money to cover that and more.
“The sole purpose of marketing is to sell more to more people, more often and at higher prices. There is no other reason to do it.” ‑- Sergio Zyman
The Marketing Mindset in Action
As you develop a marketing mindset, ideas of how to meet marketing goals on a daily basis will come easily, but here are a few ways to get started:
Know your product or service inside out. This may sound obvious but think about how many times we, as customers, have walked away from a purchase because the person helping us couldn’t answer a few basic questions about their product or service.
Find ways to leverage the competition’s mistakes. It’s easy to see what the competition is doing well and to try to replicate their success. But just as much (and sometimes more) can be learned by observing what the competition is doing poorly. Think of the competition’s weak spot as the place where a client’s needs are not being met. What can you do to step in and meet those needs?
Point your clients and customers in your direction. If you’re in customer service, try to solve all customer problems by pointing them to something your company sells.
The “bottom line” isn’t just about money coming in. Looking for ways to save is just as important as finding new revenue streams. If you’re in accounting, for example, instead of just recording where the money is going, watch for places to save. When looking at those numbers is there a way that sales can be made more efficiently?
Every customer or client meeting is a networking opportunity. The term “networking” makes some people uncomfortable. But it doesn’t have to be about “schmoozing” or closing a sale. It’s simply having a conversation in an effort to build new relationships or strengthen current ones.
Marketing is an exchange. The marketer asks the consumer to perform an action (say, buying a soda), and in exchange, the marketer gives the consumer a benefit (in this case, sweet taste and a cool image). An exchange like this is true commercial marketing, where the objective is to get people to buy something.
So, what does it mean to think like a marketer? In part, it means recognizing your side of the exchange—the fact that you need to offer something. Understanding your prospects needs are critical.
- What does my audience want?
- What do they care about?
- What do they dislike?
In business, everything is marketing, and marketing is everything. All of it affects or contributes to the profitability of the company.
Thom Torode is a Morris County based Executive & Business Coach. He owned over 5 different businesses before founding Sunrise Business Advisors, LLC. To reach Thom give him a call for more information. www.SBANOW.com
When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.
Sunrise Business Advisors can be reached at 862-219-6890 or info@SBAnow.com