Foundations of Small Business Marketing Part 1

We are continuing our series "Tough Economics - Back to Basics with a Twist." In this tough economy, all small businesses that want to grow and stay resilient have to get back to fundamentals but also apply them with current digital media and trends in mind. We're going to be looking at 10 foundations of small business marketing.

In his book Rich Dad Poor Dad, author Robert T. Kiyosaki writes:

“If you are going to build the Empire State Building, the first thing you need to do is dig a deep hole and pour in a strong foundation. If you are going to build a home in the suburbs, all you need to do is pour a 6-inch slab of concrete. Most people, in their drive to get rich are trying to build an Empire State Building on a 6-inch slab.”

The Bible echoes this thought on foundations. It says that you can build your house on sand or on stone and goes on to say that WHEN the storms come the house built on sand will crumble but the one built on rock will stand.

Good foundations ensure that WHEN you hit some challenges, such as the current economic downturn, everything won’t come crashing down on you. Think of these next 10 strategic principles as the key foundational layers that we’ll be building your business on. The deeper your foundations go, the higher your potential rises and the more effective your strategies will be.

FOUNDATION ONE: IT’S NOT ABOUT YOU

Most marketing and advertising you see today is completely self-serving. It screams “Hey! You should buy our product because we’re great.” So many companies figure out what THEY like and proceed to waste thousands of dollars trying to convince the market to feel the same way. The fact is NOBODY cares what YOU like or how great YOUR company is. They want to know what’s in it for THEM.

Furthermore, your consumers don’t buy PRODUCTS. They don’t buy SERVICES. They buy the END RESULTS of those products or services. They DESIRE the BENEFITS.

In the book Who Am I?: The 16 Basic Desires That Motivate Our Behavior and Define Our Personality, author Dr. Reiss surveyed more than 6,000 people using sophisticated computer models. Reiss arrived at the conclusion that sixteen basic desires constitute our personalities and habits. He concluded that the importance we place on each desire is what makes us individuals.

THE 16 BASIC DESIRES:

1. Independence
2. Acceptance
3. Order
4. Savings
5. Family
6. Eating
7. Tranquility
8. Power
9. Curiosity
10. Honor
11. Idealism
12. Social Contact
13. Status
14. Vengeance
15. Romance
16. Physical Activity

The best marketing focuses on how the product or service improves the life of the consumer by addressing one or all of the above desires. (We personally would exclude vengeance however it has been used in marketing before).

When it comes to small business marketing, My Perfect Economy is always about asking the question, “How can I fulfill the desires of my consumers?” Creating greater benefits to meet these desires is how you create increased VALUE for your marketplace. Although many believe that innovation is all about technology, REAL innovation actually begins and ends by understanding that it’s not about you.

1. What recent marketing activities have you performed or participated in where it was all about you and not your consumer? Be honest.
   
2. Which of the sixteen basic desires does your product or service meet?
   
3. How should this principle immediately change the way you communicate in your media and marketing?

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