Sorry, you're not Coca-Cola

A budget planning meeting made my jaw drop. 

Here's how it went. Clear business growth objectives had been issued from the top. Ambitious sales targets as always, had been set, but seemingly, with little understanding of how they would actually be achieved. The sales guy looked nervous, the team were already stretched to the max and big contracts never fell out of the sky.

So, after much thought, data gathering, market segmentation and targeting, the marketing team duly presented the marketing plan, along with a recommended budget - a reasonable percentage of forecast revenues in proportion with the business size and market reach. The plan laid out a balanced channel mix to ensure the business could be seen, heard, and easily found by existing clients and new prospects looking to place more orders.

The budget was then scrutinised by Finance. 

Cue jaw drop.... 

"Why do we even need to spend this?" they asked. "Surely everyone already knows who we are?"

It’s funny. In all my years studying and working in marketing, I must have missed the module on "The Telepathic Method." You know - that magical strategy where a buyer hundreds of miles away wakes up one morning, suddenly craving your exact product, despite having never heard of your company in their life.

Mental availability doesn't just happen. It’s built over time through consistent brand building. You only come to mind at the right moment if you’ve already laid the groundwork. If a prospect has had zero exposure to your brand, your chances of being thought of are exactly zero.

Sure, you can have the most amazing products, services and people, but if no one knows they are there, you are unlikely to reach those aspirational growth goals.

The data from the Ehrenberg-Bass Institute proves it. At any given moment, only 5% of your target market is actively looking to buy. The other 95% are completely out of market. Brand awareness is about building memory structures in that 95% now, so you are the default choice when they finally switch to buying mode.

If “everyone knows who you are” then you have done a phenomenal job and should be congratulated – you are probably Coca-Cola, and have spent squillions on marketing for decades. But the reality? We know who we are. The rest of the world? I highly doubt it.

Investing in solid marketing strategy and execution is a game changer. If your business understands that, your path to growth becomes a reality. All you need to do, is convince Finance ;0)

At Marketiviti we begin by understanding your business, your markets, your customers, and your ambitions. Armed with that, your growth strategy can be mapped, costed and resourced. 

Your new customer, may not be hundreds of miles away, they may only be round the corner - but wherever they are, our job is to make your brand the brand they wake up thinking about. 

Drop us a line if we can help your business on its growth journey.