After thinking about the session, I formulated several hypotheses about marketing in our digital world in general and, more specifically, in a local market. The major take away for me is that finding local business networking events is more difficult than it looks at first glance. I assumed that the city government, our local university’s business school or a local business service group like the Kiwanis group would have provided this information. I was wrong. When I looked at the Kiwanis International website, Kiwanis promotes its own events. Understandable but oddly narrow.
The first thought is that newspapers, radio stations and cable television companies with local access programming have an opportunity to grow their business. For several years, I have been shaped by information about the limited horizons of traditional marketing methods. If the information gleaned from this sales and marketing panel is anywhere near correct, there are growth opportunities. Perhaps I am unable to see the problems of closing a sale to a local pizza restaurant. On the other hand, the owner of the pizza parlor is looking for ways to get specific messages in front of those who want pizza. The question that struck me was, “Why are the traditional sales and marketing channels tapping this market?” I am not sure what I am missing.
The second idea I contemplated is that franchising companies and firms working with partners in a local market may be creating a problem. Young franchises and partners understand and want to use traditional and “with it” marketing methods. Unless these licensees and resellers get the green light from corporate, the franchiser and corporate big daddy may have a revolt on their hands. The sense I picked up from the Q&A session was that restricting or prohibiting certain types of marketing was planting the seeds of a revolt. A franchise operation needs new franchisees. If a younger franchisee departs, the franchiser takes a financial hit. In some cases, the former partner may become a competitor, which is an equally undesirable consequence.
The third notion I had was those on the younger slope of the customer demographic divide wanted “with it” marketing. Looking at a company’s Facebook page or Yelp “rating” were part of these prospects’ and customers’ equipment for living. Learning about a lunch special via a tweet or a Web page was a natural way to keep tabs on money saving ideas. The merchants serving the silver side of the demographic divide were focusing on more traditional marketing methods. The number of companies striking the right balance seems small. Common sense suggests that taking a “middle way” is a sound business strategy.
What can a business do with this type of information? (I am assuming that what I learned at the local business networking function may surface at a meet up near you.)
First, assess your current marketing plans. If you are getting the sales results you want, stick with your program. If there are diminishing returns, a change is needed. Stated another way, “with it” marketing and traditional marketing have to be tailored to your specific products, market, and budget.
Second, accept that a basic website may never get a large volume of traffic. If your website is mostly static and predominantly marketing type information, you do not have to invest big dollars in hopes of getting a spike in sales. The customers are under pressure and looking for information about products and services that deliver a value. A website or a Facebook page may be sufficient for some businesses. For others, traditional sales and marketing delivers sales.
Third, monitor your prospects and customers. If you see a demographic shift, you will have to make a midcourse correction in the sales and marketing plans. Even traditional businesses can experience a customer shift. One example is the surge in interest in healthy eating. Restaurants attracting a younger clientele will have to look at “with it” marketing methods and retain channels that reach the over 40 demographic with an interest in organic, vegetarian or healthy consumption. Sudden shifts can and do happen. Agility is needed in today’s tough business climate.
Stephen E. Arnold is a consultant. More information about his practice is available at www.arnoldit.com and in his Web log at www.arnoldit.com/wordpress. His most recent book is The New Landscape of Enterprise Search. For information, point your browser at http://arnoldit.com/wordpress/landscape/
