In running a business, management knowledge and skills alone may not suffice. The undeniable key success factor being passion for the undertaking, 3 secret keys are equally important to unlock brand differentiation.
Despite the schools of thoughts that call upon more business approaches than one can shake a stick at, I believe that regardless of the type of business embarked, first things first, you must have a passion for what you do. Furthermore, it requires a great deal of diligence and preparation to run a business. There is no way around effective strategic planning, among other core competencies, that underlie sustainable growth in business and sales. At any rate, however, the tenets are rudimentary for majority operators and ipso facto the indistinguishable and lackluster competition we have in the market. Thus, here are 3 hidden keys to further unlock brand differentiation and business potential.
The first key: Many brands are well aware of the enormous role social media plays in marketing. Yet, a mere 50% of the potential is tapped into, lest effectively applied. Simply put, interesting posts are nearly guaranteed to be liked, commented and shared with like minded friends that do the same in return – thus the phenomena speed of modern marketing. Therefore, as social media naturally facilitates access to previously unidentifiable target customer groups, it holds the key to optimized marketing as well. This, nonetheless, doesn’t necessarily translate to shifting aim to boost all sales through social media alone. It is a unique marketing channel that encourages interaction and expands the brand-customer base, interest and curiosity, but one of course that is interdependent with other channels. For instance, website URLs created to facilitate curious customers or connect inquiries to support most suitable to induce sales. Granted, communication channels go hand in hand with brand recognition from regular interaction stimulated by interesting posts on social media, e.g., content that embraces new perspectives and reasoning.
The second key: Personalized marketing which shifts from traditional mass media and advertisements – that ensures access to the target groups; or not – to the new normal access to individual customers that attracts more response. A simple example in case is email. Of two messages, one with a subject line ‘To All Concerned’ and another specifically addressing your name, which one would attract your attention? The same with customers, personalized information are better received than bulk campaigns. Realizing the intention to communicate personally, the customer is more likely to allocate a short attention span to a message than marking it spam. And even more important, is creating and maintaining good customer relations. This can be done by, e.g., sending a personalized message or a premium promotion offer to customers on their special occasions. Such marketing approach along with long term relationship contributes greatly to customer loyalty and sales growth provided that data input and collection along with big data management is done systematically and professionally to identify and learn customer likes, dislikes and past behavior as well as analyze and enhance sales and marketing strategies that addresses each target group’s needs differently and effectively.
The third key: Many brands opt to put role models on a payroll to discuss and review particular products on social media posts with false pretense in spite of what the fan base is really looking for. Naturally, role models would rather share content that pleases large numbers of followers while staying true to their own identity. Antithetically, most brands micromanage from a controlling mindset, screening only choreograph notes or positive messages for the payroll to continue in return. Customers today, nonetheless, have been there, done that, got the t-shirt. Thus, allowing the real Mccoys the freedom of thought to engage with bona fide content and interaction will better satisfy their followers, enable them to sustain popularity over the long run and therefore help businesses access target groups over longer and more business cycles.
The above are 3 small hidden keys essential to unlocking business potential that you might want to try. The operative word, nevertheless, lies in the third key; bona fide, verbatim: ‘in good faith’, generally used to indicate trustworthiness. In Thai is the por-piang equivalent of khunnatham. Please share with us invaluable feedback on the outcome should you decide to try the 3 keys, be it positive or negative.
Compiled by: BLOG.SCGLogistics
Reference and picture credits: forbes.com , Freepix.com