Saturday, October 24, 2020

Gone till November


We are taking a one week break from publishing regular posts and updates on this site.

We shall be back in November.
See you then!

Monday, October 19, 2020

Branding 101

 


Well, I was thinking of talking about this Tips and Traps for Marketing your Business book in today's Marketing Monday. But let's be honest, branding is really misunderstood. We are therefore better off touching on some branding basics from the aptly titled book: Marketing for Dummies.


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The very first thing to know is that brands are promises. Not logos. Not business names or corporate colors and identities.

- Brands are established through a buildup of trust in a one-of-a-kind promise about who you are,  what you stand for and what unique and meaningful benefits you deliver.

- Your brand is built by living up to your promise whenever people interact with your name, your promise or your business.

- Constantly reinforcing your brand promise strengthens your brand. At the end of the day, it's all about perception.

In a nutshell, branding is defined as the process of building a positive collection of perceptions in your customer's mind.


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Branding is one of the core essentials in any business. And it need not be a difficult thing to do and get right. After all in this life, we're always learning...

But the thing to be careful about is that you should brand only when you're ready to make a promise to customers. And more importantly, brand by making a promise that you're absolutely, positively certain you can keep.







Monday, October 12, 2020

The Seven Business Questions


In our very first post on Lasting Impressions, we shared something from Zero to One by Peter Thiel and Blake Masters:

"If you have invented something new but you haven't invented an effective way to sell it, you have a bad business - no matter how good the product."

Today, we go back to Zero to One and this time around, to something fundamental. It is the one thing (actually, seven things) every entrepreneur needs to ask when starting a business. Any business:


 

The reason is that things often don't go wrong. Things start wrong.


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Sometimes, the intricacies of founding a business seem like twisted logic. There is a lot of decision making, assessment, planning, going forward and backwards...








Saturday, October 10, 2020

The Market in the Market Gap

 If you go to WIRED magazine's web site, this is how The Long Tail is introduced:



 

It was originally an in-depth article by WIRED Editor Chris Anderson which eventually developed into both the The Long Tail book and The Long Tail blog.

This is important because the long tail is at the heart of niche markets.


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A niche is defined as a a shallow recess, especially one in a wall to display a statue or other ornament. A niche market is therefore a small, specialized market for a particular product or service.

In essence, a niche market exists in a gap within a large market segment.

 

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But there's a key question any person or business coming to market with either a product or a service needs to ask:

Is there a market within that gap in the market?


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Starting small. That is the very foundation of scaling and organic growth. Niche markets are small, and may at times appear to exist tucked away in market segments that initially show little promise or seem hopeless.





Monday, October 5, 2020

You're Unique. Like every Person Else.

Today's #MarketingMonday shines the light on a key person in advertising - the prospect who is defined as "a person regarded as likely to become a potential customer or client."

 


 

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Over a decade ago, I recall listening to this episode of 'The Age of Persuasion' podcast. This particular episode is on marketing to the masses. Consider this:

"When you speak to thousands, or millions, you surrender the persuasive power of one-on-one intimacy."

Since advertising is mediated persuasion, your marketing message is best served reaching as many a population as possible. But for it to be effective, it should be aimed at one person at a time. Smart advertising doesn't speak to the entire market. It speaks to just one person.

So who is this one person?

This one person is the prospect. And just as you can lead a friend to go the right way in conversation, you fashion your message the same way in advertising.


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The Mass Audience is a myth. And since society emphasizes the individual over the group, we tend to believe that we are very different. But from an advertiser's point of view, these individuals are essentially the same. Quite ironic.

One more thing: Advertisers speak to what an individual believes, and then they expand it to the masses.


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We are quite different and no two persons, even identical twins are exactly the same in the way we behave or respond to things. So yes, you are different. Just like everyone else!





Saturday, October 3, 2020

Preaching to the Choir

In our view, you're better off preaching to the choir than to the pews.

(this is according to unscientific research conducted by ourselves at Complit Communications). It all comes down to this: gaining new customers is always much harder than fortifying already existing customers.

But here is something more concrete, from someone who has put in a lot of time to come up with this statement:

...it is always easier and better to give your existing customers more, than it is to find new fans (customers).


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It is always an uphill task gaining new customers. And while successful business owners seem to be living the life with no stress and no strife, it is good to know you can always first avoid red ocean traps before you even create blue oceans.

This done, it's gonna be massive wins from then on.






Thursday, October 1, 2020

Introducing Lasting Impressions

"You only get one chance to make a first impression."
- Will Rogers.




First impressions are most lasting.

In his book Zero to One, Peter Thiel writes that "if you have invented something new but you haven't invented an effective way to sell it, you have a bad business - no matter how good the product."

At Lasting Impressions, we share information that is valuable to your business. Our focus is on marketing and related business functions.

Ultimately, all business thrives on relationships and relations are about trust. There is need to make not just a good first impression, but a lasting one.



Welcome to Lasting Impressions Marketing.



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Well, it takes much more than a brand new computer to have a bright future in sales...







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