Monday, September 30, 2013

Do people pay for marketing? No, not really!

No, people do not really PAY for marketing.

Sure, there are places (and people) who are willing to pay for marketing service, but that's NOT what they are really buying.

So...What ARE they buying?

Based on my experience, people pay for marketing really want one or more of these three (3) things:

Want #1: Not having to worry about "that marketing stuff."
Want #2: More Paying Customers
Want #3: Higher Status

Yeah, that's about it. Nobody really wants to pay for marketing if they are not getting any of these.  It's a classic case of most marketing businesses making the mistake of selling the features (the marketing service) instead of the benefits (the results that can come from marketing).

Truthfully, you've got the idea at this point, but if you're curious, feel free to read further...

Want #1: Not having to worry about "that marketing stuff."

FACT: Nobody wants a headache.

The number one reason most clients approach me is that they either (a) do not know how to market or (b) do not want to be bothered by it.

Sometimes, I will find a client who knows more about marketing than I do.  That's the honest-to-goodness truth.  However, these people are so busy with their own business that they happily pay you to worry about it.

They just want us marketers to just "take care of that marketing (stuff)" for them.

They don't want the headache.  If you provide your marketing services correctly, you--as a marketer--will be removing that headache or tiresome decision making from them.

They will hire you to take care of that marketing stuff...Just take care of it!

Want #2: More Paying Customers

THE HOPE:  Marketing = More Customers

Many companies actually believe that...unconditionally.

Strangely, most marketing techniques usually only affect whether a company gets MORE LEADS, but most customers of marketing service really just want MORE CUSTOMERS themselves.

Of course, marketing is an art without any guarantee, but many marketing service customers sort of assume that it will be guaranteed.

Many marketing companies pray on this and MAKE that guarantee...without really being able to truly guarantee it.  Luckily, many times marketing effort is rewarded by increasing sales.  Some customers want more than that, but most are happy to generate more additional business than it cost them to pay you to market for them.

Most companies just want us to do our "marketing magic," and more customers will "magically" appear for them.  It's nice when it happens to work that way.

Our goal is simply to put our clients (or ourselves) in front of as much of the type of traffic that is looking for what your client (or you) have to offer.  Hopefully, some of these folks will pick your client (or you).

THE TRUTH:  Marketing = More Chances to Get Customers (from More Leads)

Want #3: Higher Status

FACT:  Higher Prices = More Profit

That seems obvious, but what does that have to do with my marketing point?

The more people see a company, the more they see that company as an "established, household name."

Most of us might be willing to pay a little extra from a "known company" than a "basement shop."  We sort of expect that an established company has a little more overhead, but many of us also associate the word "stable" to that company.

If we do not know a company, we might "try it out."  Most of the time, we are hoping to find a hidden gem that provides us more quality for less money...better value.

Marketing can help separate your clients'  company (or even yours), and that could allow you to charge prices that are a little higher.

If your costs stay the same while you collect more money for those same services, what happens to your profits?

They go UP, of course.  Marketing can help improve people's perception of you, and many of the better companies understand that.

If this company hires you, they expect you to help them "justify" those higher prices, and what they're really buying is status...and higher profits.

Key Point: No, people don't really pay for marketing at all.  They pay for the BENEFITS of marketing.

How are you marketing YOUR marketing service?  (It looks like I need to ask myself the SAME question.)

There's plenty of money to be made from selling marketing services, just make sure you're not simply selling marketing services to them.  They don't really care, because that's not what they're really buying.

Make sure that you're selling--and providing them--with what they ARE buying, not the activities you'll do.

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