If you are anywhere on a high traffic density road in any modern city today, you would be subject to billboards and digital advertising signages screaming 25 to 70% off( or its equivalent underpricing bribe), irrespective of the time of the year, regardless of category that the brand is struggling, surviving, thriving or flourishing in.
In my opinion, this is a sure fire way to establish that the highly competent and skilled branding and marketing professionals behind such campaigns are downright lazy. Pardon my saying so. Low price is the last refuge of leadership that doesn’t have the guts to make a great product and tell a true story to the right people.
Not all customers are made equal. Some customers want to pay more than others, and some customers want to get more—of something—than others. That is an established default. The questions(here are a few) to ask might be:
” Are you selling to the wrong people? ”
” Is your marketing message incorrect? ”
” Your costs of acquiring a new customer are more than that customer is worth? ”
” Your supply chain may be undeveloped? ”
” What are you outsourcing? Is the time and money you spend on every step rewarded by the customer you serve? ”
” Is there a mismatch between your story and the worldview of those you seek to serve? ”
” Are you overspending or underspending on marketing? ” – (often, it’s the under spenders that are in real trouble!)
” Because you are already in Red Ocean territory and your product or service is not remarkable ”
” Are you misrepresenting or over representing when you are communicating ? ”
” Is your advertising or brand communication instantly forgettable? ”
” Is it because your product doesn’t earn traction with your customers, they wouldn’t miss you if you were gone–and the substitutes are easy ? “.
” Even though you’re trying hard, you’re being selfish, focusing on your needs instead of having empathy for those you seek to serve. The shoe is not on the other foot “?
” Is it the people you seek to serve don’t trust you? ”
” Are you focusing on the wrong channels to tell your story? Just because social media is fun, it does not mean it works! ”
” Are your people motivated or trained to be efficient?Because people do what they want, and they respond to training and respect and opportunity!”
” Are you being reactive, doing what the market tells you instead of bending the market in the direction you want it to go? ”
A lot of what is claimed to be marketing is exactly what it is NOT. Often times, when faced with problems like these, we wield the megaphone and start shouting and hyping, cutting promotional corners instead of doing the hard, deep, meaningful work of understanding what we make, how we make it, and who do we make it for. But the relief is that once you understand what is broken( in the long list of questions above), you can fix it.
As it is said, ” Don’t find customers for your product or services. Find products and services for your customers “. More on this at https://www.brandknewmag.com/dont-find-customers-for-your-products-find-products-for-your-customers/