Taking a Different Perspective – Introducing the 3Rs of Modern Marketing
It’s incredibly difficult for organisations to dedicate time to thinking about marketing. Considering which social channels you should use or how frequently you should be advertising is overwhelming for business people who do not have marketing experience. However, it is important to remember that these are simply tools and tactics and it’s far more important to stop and think strategically. That is why Black Vanilla has developed its own perspective on modern marketing – we call them the three ‘Rs’ – ‘reputation’, ‘reach’ and ‘relationships’.
Your actions + what others perceive and say about you = your reputation.
We believe that some activities, notably public relations, should not be viewed as a marketing cost to an organisation but instead are seen as an operational outlay that is fundamental to the success, and the value, of the business.
Establishing and maintaining a good reputation has a direct impact on your business’s bottom line. The UK Reputation Dividend Report found that corporate reputation contributed £790 billion of shareholder value to the top 350 FTSE companies.
Put simply, a business will find it easier to achieve its objectives if it has a good reputation among stakeholders such as its customers, opinion leaders and suppliers.
In a competitive employment marketplace, potential employees are likely to be more attracted to businesses with a good reputation and those organisations will be more likely to retain current employees.
And your customers, the ones who are attracted to your business, will in turn influence other potential customers.
Whether you need to develop, protect, enhance or repair your reputation, this is now a crucial consideration for any organisation. It is fundamental to how you plan and protect your business and a good reputation is achievable whatever the scale or size of the organisation.
Reach the right audience, in the right way, with the right messages.
The second of the three ‘Rs’ is ‘reach’. Reach the right audience, through the right channels, and cut through the noise of the competition. Having a balance of paid, earned and owned media will give you a multi-channelled approach that will reach your customer in different ways and at different times.
Paid media includes sponsorship, print, TV or radio advertising, ambient advertising, PPC or online activation and paid influencers. Paid media guarantees placement and message and is controllable.
Owned media includes your website, the content you produce, your shop windows or van, your branded clothing, brochures, newsletters, social channels, your stand at a trade show etc…Use it to tell your story. Remember, 97% of consumers search online for products and services. People will (or won’t) find your business online before they ever go (or don’t go) to your business. The bottom line is you need a website.
Earned media includes editorial, review websites, unpaid influencers, word of mouth, endorsements on a blog or forum mentions.
Strong relationships between an organisation and its audiences will lead to engagement and ultimately success.
Thirdly, the relationship between an organisation and its audiences will lead to engagement and ultimately help meet the business objective – whether that is making a sale, breaking into new markets or changing an opinion.
Spending time mapping your stakeholders, examining how the company engages with them, looking at how influence cascades and planning stakeholder engagement campaigns could well make the difference between success and failure.
If you would like to discuss how your organisation is doing with the 3Rs please get in touch for a free 3Rs audit. Call Nichole on 01481 729 299 or email firstname.lastname@example.org.