Markets are Lazy and Forgetful

Markets are Lazy and Forgetful

Is your business one of the best-kept secrets in its industry?

Assuming your general capabilities are in order, the reason for this is more than likely your marketing.

#1 – It lacks clarity and is therefore confusing.
#2 – It is inconsistent and therefore not memorable.

Both challenges are easily resolved

Tell the Market Only What You Do Best

In the real estate industry, the valuation of a parcel of land is determined by what is known as it’s highest and best use. It’s location and other factors will determine if that use is for retail, commercial, or residential development.

This and only this is what the market needs to know. Thus, to achieve what the seller wants, which is the highest price; their land is listed and marketed only for its best use.

Markets are comprised of people who when presented with too many choices will either say no or choose what is expedient. This often will be the lowest priced option.

Your marketing has to give these lazy markets a reason for choosing your business. They need to know what you do best, and that is all. Too many marketers are not clear on this point. They cast a wide net that catches little or nothing.

Let’s assume your profession is carpentry. Google carpentry and you will receive results that include handymen, remodelers, homebuilders, and more. This confuses buyers that simply want the best solution, which will be whomever dominates the category most relevant to their problem.

Know your best category, and then distinguish your business within it to become a category of one. To accomplish this, your marketing has to be focused on one and only one area of specialization.

It’s OK to work in multiple categories, but market only to your best or highest value category. This should be a mantra that permeates not just your marketing, but your company culture too.

Remind the Market What it Already Knows

When people are reminded of what they already know, it makes them feel smart.

Isn’t that what I’m doing now? You already know what we are discussing today, but you may not have given it much thought lately. By reminding you, I’m providing useful value that further develops our relationship.

Most people cannot recall what they had for dinner just last week. Think about that if your business is not attracting the steady flow of work it desires.

If your business expects to be memorable, it has to be a valuable resource. Tweet this

Use your media to provide tips and advice for your communities. This keeps it top of mind, while also making it easily referable.

Success in business and life is often the result of just consistently showing up. The same holds true for your marketing.

That’s all there is to this. Show up with clarity and consistency and enjoy the flow of new business that comes your way.

About the Author:  Jeff Korhan, MBA, is the author of Built-In Social: Essential Social Marketing Practices for Every Small Business – (Wiley)  

He helps mainstream businesses adapt their traditional growth practices to a digital world. Connect with Jeff on LinkedInTwitterFacebook, and Google+.

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Comments

  1. Excellent point. Often the actual focus of your marketing campaign gets lost in a bunch of useless babble or confusing jargon. It brings to mind the age-old concept that simple is always better.

    • Thanks for your comment Matt.

      While we our potential buyers may be intelligent, they are also easily distracted. So, indeed is is nearly always best to be simple and direct to earn their attention.

      Good point about jargon too. I believe companies often use it because they think it makes them look intelligent. However, the objective is not to impress, but to make connections.

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