Many of us remember those famous words from the movie “Jaws”, but, what does it have to do with business?

 

Recently we were in conversations with a potential client.  The discussion was centered in a marketing promotion effort to increase customer awareness and exposure.

After the meeting was over we made a rapid assessment of their company, service offering, value proposition, business image, and benchmarked their key competitors.  Our findings were staggering:

  • Four companies offered comparable services in the area.  One visible leader, and three following from a distant behind at a similar level.
  • Two competitors had facilities in prime locations, high traffic, high visibility.  Our prospective client was a few miles away from downtown in a less transited area.  We attempted to find their offices but we were unable to find them easily, no signs or ads leading to their facilities.
  • Key competitors’ websites were vivid, colorful, modern and mobile-friendly; descriptions were clear and easy to understand.  Our prospective client’s website was outdated, lacked e-commerce capabilities, and was not mobile friendly.

We immediately realized that this client needed more than advertising.  Our rapid assessment showed areas that required immediate attention in order to drive client interest and conversion.  Investing in promotional marketing alone would very likely result in little or no economic impact.  This was the moment when we thought “You are going to need a bigger boat…

The day after our initial meeting we discussed our findings with the prospective client, and after some consideration they decided to evaluate and expanded scope to their anticipated marketing plan.  These included business image and branding, services positioning and segmentation, pricing strategy, and client retention strategy.  We also identified opportunities in their physical address location and accessibility.

Our proposal was more elaborate than the client had originally envisioned; however, they understood the principles and by reviewing actual data they felt comfortable pursuing our recommended path.

Is your company currently considering investing in advertising and marketing? before taking this action explore the key elements of your business delivery model.  What is your business readiness to leverage the results of your campaign?  Is your product/service positioning clear to your customers and adequately differentiated from your competitors? Is your website ready to handle the increased traffic? Is your team ready and adequately prepared to address client requests or inquiries?

If you would like assistance answering these and other questions please contact us.