Frugal Marketing and Sales.

Frugal Marketing and Sales.

New entrants by their nature of operations have limited resources at their disposal and after investments on their core products/services have very little for their Marketing and Sales activities.

Pitched against the might of behemoth companies in almost any field of service or product leaves only few options for the new entrants, unless they are ground breaking ideas and/or are driven by a set of extremely nascent technologies which take off on their own.

Till the time the Start-up or an SME is funded it is important to follow a frugality in approach and measure every spend aspect against an expected ROI. Though there may not be a direct ROI for many of the activities in marketing, still it is good to keep the end result in mind.

Splurging on a media campaign will surely get us the ears and eyeballs but if we are not prepared to capitalize on the attention we generate, the marketing campaign would not yield the desired result. Therefore while planning for a marketing campaign we must include a clear plan for absorbing the results of the campaign and taking it to the next level. For example the advertisement for a patient management software product meant for hospitals could attract interest across multiple cities and if we do not have pre-appointed sales/sales support folks available who could engage with the hospitals for a demo/discussion, the impact that the marketing campaign made, would be lost and the huge investment with it.

A frugal approach would be to go through a restrained campaign through emails and social media, which can be controlled to a great extent. The investments are limited, however these campaigns need to be sustained over a period, therefore requiring a greater degree of planning and sustained efforts in execution. However tactical it may sound, it would be proper to invest in a basic in-house sales+ marketing team which could anchor the campaign.

The preamble of a Marketing campaign would be to clearly know The specific Product or the service that would be considered for the initial campaign (It becomes very tempting to use a single campaign to promote everything that we offer thereby diluting the message and the impact our limited budgets can make )

Since Marketing is akin to show business, there is never a way which could not have been done better with more resources. A first step towards a measured campaign would be to define budgets.

The next step would be to identify the audience and the hangout most frequented by the majority of the audience. This could be Social Media, Office (Office Email), Mobile Phones for FMCG it could be TV and Radio.

The next task would be to freeze on a media (email, Social, radio, TV) or a combination of media to reach out to the audience. Primarily the budgets and volume and distribution of the audience would determine this. For E.g. A combination of Drip marketing and social media presence could do well for marketing a Technology Event.

The objective of Marketing is not just creating an awareness and impact but benefitting from the impact, otherwise it would become journalism. Once the budget, audience and the media is frozen, it is time to plan for capitalizing the effect or impact that we would generate. i.e. we should have a ready list of FAQ answers for possible queries that our targeted audience may have when they call in, after a campaign or we should be prepared with enough resources to handle Demos in various locations quickly if the campaign promised a demo and our targeted audience asks for it.

If you notice, the focus of this Blog has been more on the less expensive means of marketing namely Email Marketing, tele-calling, Social media Marketing, Blogs and Drip marketing.

Typically a combination of vehicles / media used works and there are many more ways of expanding visibility – some are expensive while some or not. Some have great ‘Value for Money’ while some others are just hygiene factors and must be done. If we are into ‘Frugal marketing’ it will be great to explore few other ways to Market ourselves. Few online options

  • Networking (with a significant supply of Business cards) at RELEVANT events is a good way to spread the word,
  • Alliances with eco system partners – both large and small and to ensure that we get a mention in all/some of the marketing material/web pages that they have.
  • Getting featured in few Industry Magazines  and eZines (if the articles are good – they sometime come free)
  • Other options, apart from regular Social media Tools (FB, LinkedIn etc.) is to Blog regularly
  • Participate in discussions and Blogs of others and in groups

The success depends on planning and relentlessness of execution (rather than brute force of being available everywhere and hence visible and therefore making the chances of being recalled by the audience is higher).

Happy Marketing !!!

Marketing is an Attitude. Sales, is a Culture.

Marketing is an Attitude. Sales, is a Culture.

Marketing is all about building the right perception and Sales is the grit behind this suave perception. While it is critical to have the determination and perseverance needed to sell, a culture that amplifies the values of the organization is what creates differentiated organizations.

It is not just the job of a marketing team or an external agency to create the external hype, which we call Marketing, it is much beyond and actually goes deep inside the core of the organization.

The way the company represents itself, communicates, deals with its internal organization, and its employees behave while faced with their peers in other companies is what represents the company and this defines the marketing Culture of the company.

While it becomes difficult for smaller organizations to create a visible culture, which can be resonated by its employees, certain steps can be taken to ensure that the entire company brings the same face of the company to the outside world. Lot of it is to do with communication.

Going tactical, marketing cultures can be created right from standardizing email signatures to the way MoMs are recorded and circulated. Aligning of websites with marketing collaterals create a perception of seamlessness across other aspects. Uniformity in communications to customers slowly but steadily helps in creating a brand that an organization stands for.

Therefore a facet of Marketing is into spending big on creating visibility and perception, it also has a lot to do with the culture an organization chooses to adapt

While Marketing can be equated with ‘Soft Skills’ of a human being , sales is the actual character of the organization. While sales at the very minimum an exchange of product, solution or services in exchange of money, in practicality the sales is the process that leads to this final act when the exchange takes place. The tenacity with which the organization conducts itself, the perseverance, the innovation in positioning, efforts and investment in relation building defines the attitude of the organization.

A luxury brand can be in demand because of its ‘don’t care for buyer attitude’ while a similar attitude for an organization with a product which has multiple competing products can spell doom for the organization. A services company expecting repeat sales from an organization would do great with dedicated account managers, while an organization with low cost product line would sink with investments if it chose to do the same with all its buyers.

The attitude of an organization would therefore determine how it takes its product/solution/service to the market and the position, in terms of quality, price and value that it commands. In simple terms, this attitude determines, how we negotiate, concede, refuse and win business deals. This attitude defines the nature of not only the organization’s sales force but the entire leadership of organization that contributes to the sales process.