To design and execute marketing programs that drive revenues.
The business world is teeming with marketing models. Michael Porter’s competitive forces model and Geoffrey Moore’s technology adoption life cycle with its chasm that must be crossed are two examples of structures used to talk about marketing. And talk. And talk.
Sometimes concrete strategies actually come out of the conversations around marketing models, but more often than not the talk contributes toward some flashy plan document that ties marketing to industry buzz phrases. This kind of process is a “big company” phenomenon—it takes the kinds of resources that big companies have to spend time and money on intellectual exercises that may or may not lead to results.
The business world is teeming with marketing models. Michael Porter’s competitive forces model and Geoffrey Moore’s technology adoption life cycle with its chasm that must be crossed are two examples of structures used to talk about marketing. And talk. And talk.
Sometimes concrete strategies actually come out of the conversations around marketing models, but more often than not the talk contributes toward some flashy plan document that ties marketing to industry buzz phrases. This kind of process is a “big company” phenomenon—it takes the kinds of resources that big companies have to spend time and money on intellectual exercises that may or may not lead to results.
Small/medium businesses can’t and don’t mess around with theoretical marketing models. Time and money are too valuable to waste on essentially academic analysis. Resources need to be applied to tasks that will help increase business and/or decrease costs rather than to lots of talking about things. Forget the models—it’s obvious what we need to do, so let’s just go do it.
Well, yes and no. Yes, the “big company” think tank approach to marketing is a luxury that small companies can’t afford. No, this doesn’t mean that it is better to pursue marketing activities without some kind of context to put them into. A model can be useful to a small company—it can help make sure that opportunities are not being missed, that all components of the marketing function are being deployed, and that the right programs are being funded. The trick is to have a simple model that leads to sensible discussion, which in turn leads to identification of specific objectives and the programs needed to achieve them.
This is a very common sense model in terms of the R’s themselves. It distills down marketing activities into four primary arenas: Research, Recognition, Reputation, and Relationship. Any marketing you do should focus on at least one (preferably more) of these.
Showing the model components in a circle with clockwise moving arrows implies a few things. First of all, no component is either more or less important than another. Second, though reason indicates that the place to start would be “Research,” use of the model can start in any of the quadrants with the logical next step being in a clockwise direction--so that Research contributes to Recognition which contributes to Reputation which contributes to Relationship which contributes to Research…and so on. In practice, the model does not follow such a tidy stepwise progression—activities for all 4 R’s will most likely be pursued simultaneously. During the planning process, though, thinking in steps from one R to the other is easier to manage than jumping all around.
Research
Though I am talking about market research here, I’m not talking about MARKET RESEARCH (accompanied by drums and cymbals). In other words, I am not saying that you must hire a market research firm to conduct deep and mathematically valid (and expensive) studies of markets, customers, and competitors. There are other ways to conduct research that, while they won’t pass muster with market research gurus, will give you useful information to apply to your marketing activities.
Don’t get me wrong. If you can afford to hire a specialist firm to conduct research for you, by all means do it. It will be worth the investment. It’s been my experience that most small to medium companies either don’t have the resources for this, or they don’t think it a high enough priority to assign resources to. Too often this is an “all or nothing” thing—they can’t pay the professionals, so they don’t do any kind of research for their businesses.
4-R Marketing is not a market research firm, so we don't offer full-on research services. However, there are any number of “amateur” research strategies that we can help you with. Examples of cost- and time-effective research strategies include:
Well, yes and no. Yes, the “big company” think tank approach to marketing is a luxury that small companies can’t afford. No, this doesn’t mean that it is better to pursue marketing activities without some kind of context to put them into. A model can be useful to a small company—it can help make sure that opportunities are not being missed, that all components of the marketing function are being deployed, and that the right programs are being funded. The trick is to have a simple model that leads to sensible discussion, which in turn leads to identification of specific objectives and the programs needed to achieve them.
This is a very common sense model in terms of the R’s themselves. It distills down marketing activities into four primary arenas: Research, Recognition, Reputation, and Relationship. Any marketing you do should focus on at least one (preferably more) of these.
Showing the model components in a circle with clockwise moving arrows implies a few things. First of all, no component is either more or less important than another. Second, though reason indicates that the place to start would be “Research,” use of the model can start in any of the quadrants with the logical next step being in a clockwise direction--so that Research contributes to Recognition which contributes to Reputation which contributes to Relationship which contributes to Research…and so on. In practice, the model does not follow such a tidy stepwise progression—activities for all 4 R’s will most likely be pursued simultaneously. During the planning process, though, thinking in steps from one R to the other is easier to manage than jumping all around.
Research
Though I am talking about market research here, I’m not talking about MARKET RESEARCH (accompanied by drums and cymbals). In other words, I am not saying that you must hire a market research firm to conduct deep and mathematically valid (and expensive) studies of markets, customers, and competitors. There are other ways to conduct research that, while they won’t pass muster with market research gurus, will give you useful information to apply to your marketing activities.
Don’t get me wrong. If you can afford to hire a specialist firm to conduct research for you, by all means do it. It will be worth the investment. It’s been my experience that most small to medium companies either don’t have the resources for this, or they don’t think it a high enough priority to assign resources to. Too often this is an “all or nothing” thing—they can’t pay the professionals, so they don’t do any kind of research for their businesses.
4-R Marketing is not a market research firm, so we don't offer full-on research services. However, there are any number of “amateur” research strategies that we can help you with. Examples of cost- and time-effective research strategies include:
- Customer surveys (online, telephone, paper)
- Interviews (customers, vendors, partners)
- Secondary research (web research, library search)
Recognition
Awareness of your firm in the markets you serve is a necessary ingredient for success. A completely distinct marketing discipline—branding—deals with a large part of the recognition component. However, like market research, small to medium firms can’t usually afford the services of a dedicated branding consultant, and instead try to create recognition through several different methods, including:
Awareness of your firm in the markets you serve is a necessary ingredient for success. A completely distinct marketing discipline—branding—deals with a large part of the recognition component. However, like market research, small to medium firms can’t usually afford the services of a dedicated branding consultant, and instead try to create recognition through several different methods, including:
- Company name and logo
- Brochure
- Web site
- Advertising
- Trade show exhibits
- Branded merchandise
These activities usually have a high direct-cost component because firms have to hire various creative contractors to produce the desired materials and pay other services (web hosting, printers, silk screeners) to provide other parts of the puzzle. Other elements of recognition can include a clear mission message that is understood by employees, customers, and vendors, sponsorships of various kinds, and mentions in local and trade media.
There is a lot of “stuff” in the recognition component—tangible items that need to be produced, copy that needs to be well written, vendors/contractors that need to be managed effectively. Costs can run away if recognition-oriented projects are not well managed. Also, if each element is contracted out separately, and to separate vendors, the chances of presenting a unified "personality" to the market are pretty slim.
Reputation
A good reputation is important to any business, but it is a service firm’s lifeblood. Because there is no tangible product involved, the firm’s reputation is a key indicator of the quality and trustworthiness of its wares in the market’s perception.
Word of mouth (or an electronic equivalent) figures largely in the reputation component. Customer stories and testimonials help spread the word. Publications in various forms (conferences/symposia, media articles, self-published white papers) can be distributed electronically and in hard copy through multiple channels.
Thought leadership is a much-used business term that falls in the reputation component. Service firms especially need to strive for thought leadership in their areas of expertise. Public speaking gigs by the firm’s principals expose the firm’s expertise to many people at a time. A periodic newsletter showcases both the firm’s knowledge of its service area and its understanding of the needs of its target customers.
Methods used to gain recognition also serve to establish and maintain a good reputation. Trade show participation can move into showcasing the firm’s talent once recognition is established. Event sponsorships can be chosen to spotlight the firm’s preeminence in its field. Close affiliation between recognition and reputation activities will leverage the resource investment and achieve objectives in both components.
Custom events can be part of the reputation component. Workshops, training courses, management seminars - either alone or with partners - can be produced to attract target customers and showcase the firm’s expertise.
Relationship
Another common-sense component of any marketing effort, the firm’s relationships with its customers, suppliers, employees, and the community at large are very important to its ability to succeed. People buy from people they have good relationships with. No matter how much press you get, how slick your web site and brochures are, or how eloquent you are when public speaking, if you don’t have excellent relationships with your customers, employees, partners, and suppliers, you might as well just pack it in.
Activities that fall into the relationship component are specialized versions of activities in the recognition and reputation components. Examples of pursuits that enhance relationship are:
There is a lot of “stuff” in the recognition component—tangible items that need to be produced, copy that needs to be well written, vendors/contractors that need to be managed effectively. Costs can run away if recognition-oriented projects are not well managed. Also, if each element is contracted out separately, and to separate vendors, the chances of presenting a unified "personality" to the market are pretty slim.
Reputation
A good reputation is important to any business, but it is a service firm’s lifeblood. Because there is no tangible product involved, the firm’s reputation is a key indicator of the quality and trustworthiness of its wares in the market’s perception.
Word of mouth (or an electronic equivalent) figures largely in the reputation component. Customer stories and testimonials help spread the word. Publications in various forms (conferences/symposia, media articles, self-published white papers) can be distributed electronically and in hard copy through multiple channels.
Thought leadership is a much-used business term that falls in the reputation component. Service firms especially need to strive for thought leadership in their areas of expertise. Public speaking gigs by the firm’s principals expose the firm’s expertise to many people at a time. A periodic newsletter showcases both the firm’s knowledge of its service area and its understanding of the needs of its target customers.
Methods used to gain recognition also serve to establish and maintain a good reputation. Trade show participation can move into showcasing the firm’s talent once recognition is established. Event sponsorships can be chosen to spotlight the firm’s preeminence in its field. Close affiliation between recognition and reputation activities will leverage the resource investment and achieve objectives in both components.
Custom events can be part of the reputation component. Workshops, training courses, management seminars - either alone or with partners - can be produced to attract target customers and showcase the firm’s expertise.
Relationship
Another common-sense component of any marketing effort, the firm’s relationships with its customers, suppliers, employees, and the community at large are very important to its ability to succeed. People buy from people they have good relationships with. No matter how much press you get, how slick your web site and brochures are, or how eloquent you are when public speaking, if you don’t have excellent relationships with your customers, employees, partners, and suppliers, you might as well just pack it in.
Activities that fall into the relationship component are specialized versions of activities in the recognition and reputation components. Examples of pursuits that enhance relationship are:
- Employee newsletter
- Sales training tools and materials for channel partners
- Social events for customers (holiday party, hospitality suite at a trade show/conference)
- Company-supported participation by firm employees in professional organizations
- Online portals that share documents and other artifacts with constituents Co-authorship of papers and presentations with customers and/or partners
(Source: http://www.4rmarketing.com)