I was watching a detective show on TV recently. A homicide
had occurred and the detective on the scene had a small sliver of evidence he
was sure would lead him to the murderer. He called someone at the home office
who was an IT guru. The detective described what he had found and then took a
picture of it on his phone. He sent the photo to the techy guy, who pounded
away on his computer and, in mere moments, had found all the information you
could ever want on the killer. I sat there and thought, we have come to believe
that we can find anything with a few taps on a computer. Download the right app
and you have solved any problem you will ever face! Think about it: the
laughable thing is we have come to believe we can control the world from our
Smartphone!
That leads me to a common problem businesses are facing with
their marketing technology. They believe that all they need to do is pay a
software fee and they will have the solution to all of their marketing
problems. But many are finding that they are getting the fee without any return
on investment. That is because the software can deliver marketing raw
materials, such as lead generation information that is integrated with a
customer management system, but it cannot read your customers and execute a
strategy without your involvement. As one writer put it, "…what the marketing technology
company actually delivers is the cement, the wood, the sheetrock, the piping,
and the appliances to your empty lot. It's your job to build the mansion…1”
So for every business owner who is frustrated by the lack of results from their
investment in technology, let me offer a solution that will help you get the
most out of it. Marcom technology is really a wonderful thing. It can
streamline and revolutionize your marketing if you use it as a tool rather than
a human brain that is capable of interjecting emotion into your marketing –
something the technology will never be able to do for you. And marketing has
always been an emotional discipline of business. It is the human connection
that makes people fall in love with our brand, not logic. Don’t get me wrong,
your customers expect your products and services to work. But they also won’t
be brand loyal unless there is some emotion (like happiness) attached to your
brand. So leave the emotional side of marketing to the humans.
What
would be left for the technology side of marketing is the execution and
measurement of your marketing efforts. Here is where the technology can help
you. For the technology to be helpful, you will need to interject a strategy
into your marketing. That means you need to formalize a marketing plan that
targets potential customers, performs specific tasks that engages that targeted
group and measures your success. That includes setting goals. What exactly are
you trying to accomplish as a company? Get specific with this answer. From
there, build a marketing strategy that provides customer engagement that leads
them to a sale. Marketing, when it is working correctly, helps you reach your goals.
For most businesses, that has to do with increasing sales to two different
groups of people: converting prospects (what we would call your target) into
new customers and keeping your current customers (your base) buying from you. What
your marketing technology can help you do is reach your target and your base, measure
your success in reaching them, converting and retaining customers.
In
order to effectively market to your target, there has to be key, strategic
actions to attract them to you, get them interested and then entice them to buy
from you for the first time. Pay careful attention to potential customers as
they make their way through this process. Their experience will determine
whether or not they actually buy from you.
Likewise, there are four reasons your base will either stay with you or
leave you:
- Your
price has to be competitive compared to your competition
- The
quality of your products/services has to outshine the competition
- You
have to deliver on time
- The
customer service experience with your people has to be pleasant
Mess
up on any of these four areas and you run the risk of losing your base. If you
do a stellar job on these four areas and you have opened the door to sell your
base again and again. They will become your advocates. This is where the
emotion enters the picture once again. Happy customers become brand loyal. This
is where you want all customer relationships to end up. Marketing has a key
responsibility to both promote these four key areas of the customer’s
experience. This is where the technology can help you get their reaction in a
short amount of time. Use this technology to log customer reaction. Fix the
areas where you are failing, promote the areas where you are excelling.
Marketing
technology will not solve all business problems with a few taps on a computer
keyboard. However, when coupled with a good marketing plan, it can help you
implement and measure your success, especially as it relates to areas of the
customer’s experience that can make you or break you.
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1. How Your Company Can Prevent A Failed Marketing Technology Investment,
by Douglas Karr, October 17, 2019, Forbes