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Stand out in a crowd…with your marketing approach

Marketing’s first responsibility to society is to advance life, liberty and general happiness by creating exchanges, markets and product and trading innovations that increase the efficiency and effectiveness of the economic process.

As marketers, we need to continue to innovate and learn new ways to effectively reach our target audiences. Adam Smith said that such self improvement makes markets more competitive, makes our lives as workers and customers more productive and wastes less of the earth’s scarce resources that need to be preserved for future generations.

However, we need to be smart with our marketing resources and efforts. We all have budgets and time-allowances that we need to make sure that we are balancing our efforts, so that we have a balanced attack when we are reaching out to our customers and potential clients. We can achieve this by doing our research about our target demographics and focus our efforts on those who actually “need” our services. But we can also go more in-depth with our marketing by also focusing on our actions and our company values when dealing with our customers.

INEFFICIENT TARGETING

Too much advertising can be wasteful. Customers can be turned off when you are shoving too much advertising down their throats. Inefficient targeting results when advertising and distribution reach too broad an audience, most of whom are not interested in products and services. How do we cope with the increased tuning out of customers to our marketing messages? We must increase our efforts by getting our audience to register our more powerful attention-grabbing mechanisms.

MARKET ETHICALLY

There is not a better way to market your company and services than remaining aware of what is right and what is wrong. Believe me, your customers will take notice of your social responsibility efforts and form a positive image of your enterprise in their minds. Implementing social responsibility is not only making donations to charity, only using environmentally safe raw materials or volunteering services for certain causes. You can also create conduct guidelines that you and your employees must abide by, that will serve your customers and their values. For example..

Do not make misrepresentations to anyone you deal with.
Do not disparage competitors.
Do not steal or obtain information by willful deceit.
Do not further selling after competitor has the firm offer.

These are just some examples that filter into your overall holistic orientation approach that pay off when you execute them properly when dealing with your customers and competitors.

OBEY THE LAW

This section goes along with your ethical marketing efforts, of course. We are all constrained by laws and regulations. It should be no different for organizations and marketers. Many laws and regulations that affect marketing practices are in place to encourage competition and protect customers. This should be embraced as a positive environment, because everyone in the business community should want to help promote a healthy and robust economy. Competition fuels growth of our economy and individual prosperity. Also protecting our customers is another good way to reinforce the positive image of our company in their minds and in their eyes.

There are many ways to market efficiently, and I just wanted to point out a few important ones. I will be posting more healthy marketing practices and I hope you enjoy these marketing tips.

Sources – Marketing Principles and Best Practices 3rd Edition, K. Douglas Hoffman – 2006

One thought on “Marketing That Is More Effective, Efficient and Ethical

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