The Strategic Importance of a Strong Corporate Brand
A few weeks ago I downloaded some product information from a company selling CRM software.
About a week later I received an extremely delightful email that said in part:
Recently, you requested information about “XYZ CRM”. I want to thank you for your interest in our product, which is why I’m going to send you a valuable marketing course that will help you evaluate your current marketing efforts and give you tips that will definitely increase your profits.
This marketing course is called “6 Magnetic Marketing Secrets To Explode Your Profits.” You’ll get an email once a week that gives you powerful marketing advice for your business, which you can use right away to close more sales and make more money with your business.
I was suitably impressed…until I received part one of their six-part so-called “marketing” course.
Called “Secret #1: The Real Definition of Successful Marketing,” this initial communiqué states that “there are only three factors that influence the profitability of any marketing effort. The smartest marketing minds on the planet have sifted these factors down to this simple, but powerful formula:
The Right Message. To the Right Market. At the Right Time!”
That is the problem when someone tries to boil marketing down to a “simple formula.” They tend to ignore factors like having the right product solution, the right distribution and delivery system, the right branding strategy and, of course, a profitable pricing strategy.
Of course, these guys are trying to sell CRM software solutions, so they appear only concerned with the “selling side” of the marketing equation. But nevertheless, that does not give them the right to broadcast such a misleading interpretation of the essence of marketing to their potential customers.
If they wanted to use an all-encompassing phrase to depict the real meaning and quintessence of marketing, they should have asked to use the one created by the mind of this marketing professional:
If it touches the customer, it’s a marketing issue™
Now, with their focus on selling CRM systems, and their pitch on tracking all customer and prospect communications, these guys compound the error of their ways by offering free marketing advice in this so-called “marketing course.”
They claim that “not using the three marketing success factors and/or little or no direct response offers costs companies millions in missed sales every year!”
That is almost funny because, from almost all the articles I have read about the problems of implementing CRM systems, it appears that it is these implementation problems that are costing companies hundreds of millions in missed sales and lost customers every year.
But that is beside the point, at least for now.
What galls me the most about their free marketing advice is their first point on how to “fix” the problems of these lost sales. This advice is to:
Never waste money on image advertising, or at least keep it to a minimum and only try creating yourself or your company as a brand after becoming profitable!
What utter nonsense! What utter lack of understanding of how to create and leverage a brand. What complete confusion and wrong impression about the strategic importance of having a strong corporate brand in today’s ultra-competitive markets.
In other words, what total idiots!
It is only a sense of professionalism, combined with pity for their misguided ways, which prevents my total outrage at their spreading their mistaken and erroneous claptrap from telling our Monday Morning Marketing Memo readers who “XYZ CRM” actually is.
I will share this week’s Monday Morning Marketing Memo with the person sending out their email campaign. I will also point them to the classic advertisement from McGraw-Hill that ran in the 1950s. The copy platform of this ad was quite simple, yet effective:
I don’t know who you are.
I don’t know your company.
I don’t know what your company stands for.
I don’t know your company’s customers.
I don’t know your company’s record.
I don’t know your company’s reputation.
Now ─ what is it you wanted to sell me?
Come to think of it, in terms of the “XYZ CRM” company, I don’t know who they are, what they stand for, their customers, their track record, or even their reputation. All I know is that they give out awful free marketing advice.
And for me, that’s enough NOT to recommend them to anyone now, or in the near future.
Perhaps they ought to reconsider their own policies, and their own advice, by figuring out how to create a strong corporate brand for themselves that can be leveraged for greater sales, higher margins, and better profitability.
In the meantime, I caution all readers to be leery of free marketing advice, especially when this is promulgated by sales people more interested in meeting quarterly sales targets than in helping you to better understand how to use the power of marketing to create and grow your own sustainable business.
KEY POINT: do not overlook the strategic importance of having a strong corporate brand in today’s ultra-competitive markets.
TAKING ACTION: be leery of free marketing advice, particularly when it is not proffered by professional marketing people, but by those eager to sell you their goods and services.
When was the last time you took a good, hard look at your corporate brand and the impact of this on both your future sales and your customer retention levels? Have you become so comfortable with your corporate brand that you have forgotten to check its pulse with your customers, prospects, employees, and the communities you serve?
Contact us today for an in-depth discussion on how we can help you evaluate your corporate brand and devise strategies to leverage your corporate image to enhance the sustainable growth of your business.
This article is excerpted from our book The Best of the Monday Morning Marketing Memo, available at Amazon in Kindle and paperback formats.