Information: The New Marketing Currency (Part 1)
Part One – "Build Your Bank Account"
Some of the most valuable marketing material your company has isn't just what you can tout about your product or service. It's what's in your collective brains.
If we think about the communications aspect of marketing, the following provides food for thought:
"Marketing is the lifelong process of educating your customers about the value of your product or service."
- Jay Abraham, The Abraham Group, Los Angeles.
The idea of sharing information to create value – as a precursor to a sale, and after the sale is made – is certainly not new. Yet too few companies understand and act on this route to build relationships and stay relevant to customers for the long-term. They don't usually think beyond the product or service.
Today, we see information being shared by savvy businesses everywhere. How does your company get into the act? First, build your Information Bank Account with these pointers:
Point I – You don't have to have something "new." One of the critical skill-sets of your public relations team is to show you how to make news, even if you don't have a "new" product or service to offer. Your knowledge, whether from a company founder or manager, technician or customer service rep, can be mined for gold.
The potential topics are almost endless but must follow one simple guideline: What would customers want to know or find useful? This is why how-to articles, tips features and real-world case studies are always the best-read. It's because they are useful. Your prospect may not be ready to buy now, but when they are, who will they recall? A firm they know or have never heard of? Objective, helpful information builds trust.
Point II – What Do You Know? Sure, you should explore and exploit all angles of your team's knowledge about the product or service you provide, but move beyond the obvious benefits and features. Explore what happens during ongoing servicing (common problems, special knowledge you bring to different situations) and even in the back-office.
A manufacturer could brainstorm around many areas, from material sources and design, to functionality or how a product compares against competitors, to its evolution and future. A service provider could address its own philosophy; special areas of knowledge that have helped customers in the past; and specific areas of staff knowledge (from previous jobs, education, life experience, etc.).
Some of the most enlightening conversations we've had with entrepreneurs have been about their pasts, their perspectives and opinions – where they came from; how they moved up in the ranks; how and why they got into the industry or started their own businesses. A thoughtful listener can draw insights that can lead to solid marketing content.
Point III -- Think like a journalist. Put yourself in the shoes of a reporter. Because it's not about you and your company, it's about the reader. Several pointers here:
Look at the writing styles and topics you like to read outside of business publications. How do the authors frame the content and keep your interest? This alone can give you many ideas for developing educational content.
Put yourself in the shoes of a reporter. What kinds of questions would they ask? What would they be interested in? Commenting on industry trends and popular issues are a great place to start.
Think feature article, not just success story. There is ample opportunity to query an editor and propose a broader feature that fits their interests, rather than always trying to push a purely commercial message.
Another opportunity many miss is to conduct a basic Q&A with anyone in the company (from researchers to sales). These are easy to write and are a fresh source of surprisingly good information.
Read Part Two of Information: The New Marketing Currency for more pointers about how to 'think like a journalist' and how to put your 'money' to work.
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