There are very few times in life when you write about something and then you experience what you write about within a couple of days of writing it. This weekend that happened to me.
Those of you following my blog know that I blogged last week about the importance of product placement (Product Placement…the easily forgotten differentiator) as a marketing delivery method. And in that blog, I gave you lots of suggestions on how you can use the physical placement of your product to help market your company/product.
My Facebook friends know that I took my son and his friend to Legoland this weekend. And low and behold…a prime and effective example of product placement presented itself to me (and I thought I would share it with you)!
Check out the picturesI attached my blog. It’s a Volvo made out of Legos! What a great product placement idea! Why?
- Volvo’s target market is there–Legoland is expensive…so if you can afford to take the kids and their friends to Legoland, you can probably afford a more expensive car…like the family friendly Volvo.
- They are getting past the advertising clutter–
- It has staying power–heck I took a picture of it and I also took note of the preferred parking available to anyone driving a Volvo to the park that day…and I bet others now have a picture of a Volvo (Lego-style)in their vacation photo album!
- It’s remarkable–I am sure that I am not the only one telling friends and family about the Lego Volvo.
So can you get alot of mileage out of your product placement? Absolutely! Just ask Volvo!
There are many forms of delivery for your marketing program…have you considered product placement lately? Ok, placement is one of the four P’s of marketing….but how can you use product placement to your marketing advantage? (Oh and by the way…I am not talking about shelving here…though this is a way to get your product noticed.)
Here’s how three easy steps:
- Determine where your target market spends their physical time—you have heard the adage “fish where the fish are” right? Why not put your fancy net where the fish like to swim…if only briefly? For example…where do people who want to get married spend some of their time? Why, waiting in line at city hall of course! If you are providing goods and services supporting marriage…why not get your brochure there?
- Let them use it—when it comes to placement, one size does not fix all. You don’t always have to focus on putting your brochureware where people can see it. How about letting your target market actually test out your product in a place they were going anyway? For example, Haws Corporation has a solution to bottled water called the Hydration Station. And, to get people used to their product concept and see if their target audience would resonate with their product, they had Hydration Stations set up at The Sundance Film Festival. What a great way to build a buzz for your product!
- Determine your potential local distribution partners—as a business owner, you should always be thinking about what partners could provide your information to your target market for little or no cost to your company. For instance, a great distribution partner for companies whose target markets are new businesses and people new to an area is a local chamber of commerce or a visitor’s center. They regularly market to this company’s target market and it should be able to get the company’s name out relatively inexpensively.
Have some additional placement ideas? Let me know in the comments section below!
While most of us would agree that great care should be given when selecting a name for a new company or a new product, many people don’t have a true process they go through when selecting a name.
Since the name of your company or product/service is going to be with you for hopefully a very, very long time, it is important that you get this part of building your new business/product/service right.
Here are four quick and easy tips to naming a new business, product or service.
- Keep it Simple— less is (most often) more when selecting a name. Think about your target audience when you are naming your company. Since you are building your product and service around their wants/needs…why wouldn’t you build your company name around these wants/needs as well? For some, simple could mean naming it after the family like SC Johnson (who makes things like Windex).
- Make it Memorable—while “being memorable” means different things to different people, to me it means selecting a name that is easy for your target market to remember. So nothing complicated or hard to remember. Or worse yet…one that is so close in name to a competitor that you often get mistaken for them (which could be a good or bad thing depending upon the competitor). For example: JiffyPop. How could you forget that name? Popped corn in a jiffy!
- Make it Relevant—is important for you to select a name that is easily relatable (by your target market) to what you do. For example: Toys”R”us. When seeing this name for the very first time, would you have any doubt or misunderstanding as to what this company does? Another great example is ProPixFix…a new online photo restoration service. The name clearly tells you what they do.
- Make it Familiar—my final and favorite naming tip is make it familiar…meaning make it sound like you have heard of that company before. When you start a business, you will have almost no brand recognition or equity. By having a familiar sounding name, you might get people comfortable in giving you a shot, even though you are new. For example: Fast Forward Strategies. This marketing strategy company started in 2002 with no brand awareness/equity. The company benefitted from the name sounding like a strategy company their target market had heard of before.
Ok, so what do you do if you have a “bad” name and you are stuck with it? Help fix the bad name with a tagline. Look for a future blog post on the topic of taglines coming soon to my blog.
Have more quick and easy tips on selecting a name for your new company, product or service? Let me know in the comments section below.
With all the focus on digital and social media marketing, little is being said about how you can in fact be successful in the world of direct marketing. Just for the record, direct marketing is not just direct mail marketing, though it has a lot to do with it.
In my video blog above, I give you several things you need to think about before you embark on a direct marketing campaign.
Here are the highlights:
- Determine what your goals are for the direct marketing campaign
- Determine the message
- Determine the format
- Determine the response methods
- Determine how are you going to measure your success
Have other things you should consider before embarking on a direct marketing campaign? Let me know in the comments section!