Communication is essential to successful marketing. Poor or unfocused communication will not help close a sale. Communication requires practice, understanding of value, and entertainment. It is also essential that all communication occur through the media that will best reach the customers.
The Marketing Pitch
The marketing pitch is a traditional method of communication. Done correctly, it will create interest in your product. If it is done incorrectly, potential customers will lose interest quickly. The pitch may take place in person or online. Regardless of the method, there are basic steps that will improve the success of the pitch.
- Be concise: Pitches need to be short and focused (30 seconds to 5 minutes, depending on your situation). A pitch is an introduction; so do not overload it with information, and never ramble.
- Write it down: Write down your pitch ahead of time, focusing on a few unique selling points.
- Practice: Practice your pitch in the mirror and in front of others. Make changes as necessary.
Sell Value, Not the Price
When communicating with consumers, the message shouldn’t be all about better or lower prices; it should be about the value and service you can offer. Only 1/3 of customers completely base purchases on price. Most customers are looking for value. In order to sell value to customers, you need to understand what it is they value. Knowing your target market is essential to this process. For example, young, eco-friendly customers are willing to pay more for products that reduce their carbon footprints. Once you have established the values of your market, you need to follow a few basic guidelines.
- Link company strengths with value for consumers.
- Be confident on your product.
- Offer extraordinary service.
Fun and Entertaining is Powerful
Communication should be all facts and figures. While it is important for potential customers to understand everything that you have to offer, you need to catch and maintain their interest. Fun and entertaining communication will easily catch the interest of your target market. Additionally, entertaining content will help customers forget that you are trying to sell them something, and they are likely to discuss the marketing attempt with others. For example, consider the commercials that air during the Super Bowl and how much attention people are willing to give them.
Choosing the Right Media
It is impossible to communicate with your target audience if you do not use the correct media. For example, overlooking social media for younger customers will almost guarantee that they do not receive your communication. Choosing the right media depends on your customer and your budget.
Types of Media:
- Radio: This media only reaches a small group, but you can focus exclusively on your target market.
- Television: The media reaches a broader group, but it is expensive and the message may be ignored with DVRs.
- Publications: Reach your target market in specific publications.
- Internet: Banner ads and SEO broaden the market.
- Social media: Social media allows customers to follow and share, but it requires monitoring and maintenance.
This post is from May’s topic on Marketing Basics, which is also a course on our Mini-MBA program online from Harvard Square.