As 2009 continues in a rush of bailouts and budget cuts, taxes and tea parties, it's clear that it will take more than just a positive attitude to ensure your business goes "above and beyond" this year. It will take focus, careful budgeting and results-oriented marketing efforts.
In that spirit, in this issue I'd like to offer:
Three things to do before you hire a designer or an agency, that could save you thousands of dollars.
Frankly, and this is coming from a branding guy, if not done well, marketing and branding can be a big drain on resources. On the other hand, if done well, marketing tells a compelling story for your company, positioning you for success across the web, video, social media, PR and all the ways your company connects with its audience. This in turn drives traffic, leads and revenue, and opens the door for big-time success.
Most of us have had at least one experience with hiring a marketing firm and spending too much, and getting too little. Unfortunately there are a few marketers who, when the rubber meets the road, simply don't deliver. But even with a great marketing firm, there are some basic, very do-able actions that are vital to ensure a positive result.
The key is preparation. As most firms bill by the hour (or bid fixed prices based on how many hours they think they'll need to complete your project), every single action you take to prepare beforehand saves you serious dollars down the road.
1. Company, know thyself!
Have an idea of how you want to be positioned. Here's the first and best definition of positioning, from an article called "The Positioning Era" in Advertising Age:
"… positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect."
–Al Ries and Jack Trout
People have limited time and attention, and they understand things as compared to other things.
Practical Exercise:
Name five companies that your firm is like, and five that it's unlike, and why. Then formulate a sentence based on this that communicates a position. To help you out, here's mine:
"Orion Creative Group is like a big marketing agency, offering the same broad range of services and one-on-one service, but without the big overhead and high prices."
Or, the shorter version: "High-Powered, Agency-Grade Creative Services at Rates You Can Afford!"
WHY IT'S IMPORTANT: Knowing your positioning saves big-time on consulting and strategy hours, which often carry the highest rates (understandably, as a quality firm will put its top people in charge of major strategic planning). So, yes, your marketing team can help you fine-tune your positioning, but if they're not starting from scratch, you will save money.
2. Set marketing goals.
Wait a minute – isn't that the marketing company's job? Well, not entirely. Just as your general contractor can't decide how many stories your house ought to have, or whether you want a swimming pool, your marketing agency needs to know your objectives to achieve results.
Practical Exercise: Marketing goals for 2009
Note down three specific, measurable goals you'd like to achieve with your marketing by the end of 2009. Examples might be:
- Increase market share by 10%
- Generate 15 new long-term client accounts
- Increase lead generation from our website by 50%
Share these goals with your agency. A good team will welcome the opportunity to work with you in attaining them. (And, on the other hand, if a prospective agency bristles about being assigned measurable goals, this is a major red flag).
WHY IT'S IMPORTANT: Setting goals at the beginning avoids expensive mid-course corrections. Know where you're headed from Day One and you'll get there much faster (and cheaper!).
3. Have one person at your firm directly oversee your agency.
I've worked with organizations of every size, from startups to international corporations, and problems with feedback and direction can occur at any level. The two absolute best solutions I've seen are:
1. An engaged C-level individual or founder who devotes significant time to key basics, such as branding and positioning. This person has a holistic view of his or her organization, and cares deeply about its message and values and how it is perceived by the public. Or,
2. A dedicated marketing director within the company, empowered to make decisions without intensive reliance on upper management. This person is energetic, driven to succeed, and has the time to work on long-term initiatives.
The culture and structure of your organization will determine which works best. Many founders I've worked with are simply too wrapped up in operations, for instance, to provide the direction needed to ensure a great result.
WHY IT'S IMPORTANT: Having a specific member of your own team managing your marketing efforts gets your initiatives launched faster, and keeps efforts focused, achieving the greatest results with the minimum number of billable hours.
A good agency will provide strategic direction. But there is absolutely no substitute for engaged management who are honestly interested in their marketing programs and are willing to work side-by-side with their marketing team to create lasting value.
Aphorism
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