As a reminder, in case you didn’t read last week’s ENS on Sales titled “7 Criteria for Effective Advertising”, these next few weeks we will be discussing each of the seven criteria. To read last week’s issue and catch up, click here.
Strategy is listed as the #1 criteria because, quite simply, it’s the most important element that determines the success of a business or a product.
So, what is strategy? Strategy is what you want your business or product to be “known for”.
I’ll use the insurance category as an example. What is GEICO “known for”? Their slogan is, “In 15 minutes or less you could save 15% or more on car insurance”. Their strategy is simply that you will save time and money! It has nothing to do with better insurance, creative packaging options, or better or faster claims. Those strategies are left to other companies.
If GEICO owns the “saving time and money category”, what does Farmers Insurance want you to know them for? Regardless of how crazy your claim may be, they will pay the claim! They substantiate that strategy with their slogan, “We know a thing or two because we’ve seen a thing or two”.
That’s strategy! It’s what the business is “known for”.
Most small to medium-sized businesses that you deal with on a local level don’t have a strategy. In fact, if you ask them what their business strategy is, you’ll get answers like, “I don’t know what you mean”, “I don’t really know”, or “I don’t think we really have one”!
Once you understand what a company’s strategy is, it’s much easier to craft messages and campaigns. If they don’t have a strategy, help them create one. How to uncover or create a business strategy is a whole other topic and discussion for another day.
If you have questions or would like to discuss more on strategy, email me or give me a call.
Next week, we will discuss Criteria #2, The Message/Ad.