BUZZ: MARKETING HAS FOUR W’S

Marketing (and your product or service) is about satisfying your customers’ and prospects’ needs.

And a new way to do this is think of marketing as four Wsnot four Ps.

You see, unlike marketing’s four Ps, the four Ws — who, what, where and worthput customers centre stage:

♦  Who are your customers?  Is there any commonality?
♦  What is their problem?  Are you solving it?
♦  Where do you differ from your competitors?
♦  Worth — what value are you offering?

They are part of creating the desire to buy (the whole point of marketing), summed up in this easy-read, 12 minute review.

Of course, marketing is concerned with products (or services) and their price, place (availability) and promotion.

They are the classic four Ps of marketing, of which product and place are the important ones to begin with.

But they are not as important as knowing what it is your customers want to do.

That is why it is far better to think of WWW+Wthe four Ws of marketing: who, what, where and worth. They clarify how to make marketing work for you.

The next section explains the detail. But if you’d prefer to chat about the four Ws, just ring Peter Mann on 01767 651 115 or 07840 538 814.

Marketing’s four W's – who, where, why and worth – centres on the customer / prospect and what they are trying to achieve: using the four W’s will help you to concentrate on finding and potentially satisfying that need. [1] WHO – the customer / prospect, the company or individual who buys / wants to buy your product / service. [2] WHERE – not just the physical location, UK or abroad, but the segment(s) your customers and prospects are in. [3] WHY – why should anyone buy from you; what are you doing to identify and satisfy customer needs; what value are you adding? [4] WORTH – the W which really matters: what are you worth to your customer / prospect? Are you so valuable price is (almost) irrelevant because your product / service is irreplaceable? Talk to Peter Mann at Buzz Associates (01767 65 11 15) about how best to implement the four W's in your company.

Four Ws instead of the four Ps of marketing? Are you trying to be funny?

No — even though some marketers believe there are seven Ps (they add process, people and physical evidence). Or eight Ps if you include performance… or nine if you add profit.

Only if you make it ten Ps — for punter — do you finally get to the bit that matters: the customer.

Marketing’s four Ws – who, what, where and worth – centres on the customer / prospect and what they are trying to achieve: using the four Ws will help you to concentrate on finding and satisfying that need. [1] WHO – the customer / prospect, the company or individual who buys / wants to buy your product or service. [2] WHAT – is their problem and how can you help them solve it? [3] WHERE – do you differ from your competitors that gives you the edge? [4] WORTH – the W which really matters: what are you worth to your customer / prospect? Are you so valuable price is (almost) irrelevant because your product / service is irreplaceable? Talk to Peter Mann at Buzz Associates (01767 651 115) about how best to implement the four Ws in your company.

Ah, the customer! The customer is the body which keeps your business going. They pay your wages and allow you to invest in making your company better and more successful.

Which is why this is so important: marketing (and your product or service) is about satisfying your customers’ and prospects’ needs.

And why in creating the desire to buy, you will find it invaluable to use marketing’s four Ws: who, what, where and worth.

They are designed to make you concentrate on your customers and prospects. They’re centred on what they, the customer, is trying to achieve and your worth to them (not them to you).

W number one: WHO

The customer / prospect, the company or individual who buys / wants to buy your product or service.

♦  Who are they — the company, the people, the locations?

♦  Who is the person you need to target? Industrial products and services are rarely bought by one person without consultation.

The process might start with a junior design engineer before going through several layers to board level for signing off. There could be ten or a dozen influencers on the way, each with their own preferences.

A line manager whose need you can fulfil might be your best starting point. The head of purchasing may have no interest in what your product does, only its price. How many in the decision making chain are you talking to?

♦  Who are their customers? Your solution may help your prospect to sell more.

♦  What do they make / what service do they provide? Always know your customer — there may be other opportunities for more sales.

♦  Location — not just UK or abroad. If the prospect has more than one office, do you know which you should target? Postcodes can be too generic and imprecise.

♦  Industry — does it matter to you which industry your customers are in? Is ‘industry blindness’ holding you back? Does your product / service cross boundaries?

♦  And segment — do you have a clear idea of the market segments your customers fall into? Are you really sure — have you asked them where they think they are? Have you a product advantage for that segment?

W number two: WHAT

It’s their problem you have to solve — your job is to demonstrate you can do so.

♦  Customers and prospects are only bothered about their problems.

♦  What is their problem? Have you identified their need(s)? What are you doing to satisfy those needs?

♦  Remember, it’s your opportunity to demonstrate you can provide the answer. Within reason, price should not be a factor.

♦  Then, hone it down to the one really key thing they want and you know you can deliver on.

♦  Build your sales pitch around that to show you understand their issue. Then add all the other benefits you offer.

♦  Another thing: what market research have you done?

♦  And, what is it which makes your customers buy from you? Have you asked — and was there any depth to the answers?

W number three: WHERE

Where do you differ you from your competitors?

♦  Where have you an advantage which your competitors can’t match?

♦  Where can you find an edge over your competitors to meet your prospect’s need? Different prospects may offer different opportunities.

♦  Where and how do people / prospects find you? Have you asked them — and what search term they used?

♦  Where do you promote yourselves? Are you able to measure the return?

♦  Where and how do they buy your product / service?

♦  And, apart from your website (and how does Google rate you?), where else are you promoting yourselves? Is it effective?

♦  Where do your competitors pop up?

W number four: WORTH

The W which really matters — the value your customers place on you.

♦  What are you worth to your customers?  Are you just a number in their accounts? Or, are you so valuable price is (almost) irrelevant because your product / service is irreplaceable?

♦  What value are you adding to make you the best buy?

♦  Can you sustain it? You’re here for the long term, so don’t keep denting your profits.

♦  Are you charging enough — and, do you know the tipping point?

♦  Do you / can you make life much easier for your customers? If you do and your competitors don’t, you will win the order!

♦  Is it just your product / service you’re selling? Or is it all the ‘small’ things which are, perhaps, the real value in dealing with you? Are they actually the ‘big things’ which differentiate you from your competitors?

So many questions!

Think hard about your customers. Who they are and what their problem is — and how you can solve it. Where you are better than your competitors and, most important, your worth to your customers through the value you give them.

This will give you data and ideas to attract more like-minded prospects, who will be relatively easy to sell to.

And get you into thinking over the wider aspects of how your marketing is about satisfying customers and prospects.

What now? Of course! Ring Peter Mann of Buzz Associates on 01767 651 115 or 07840 538 814. Then we can discuss how, by working together, the four Ws can improve your marketing and your business.

And how Buzz Associates’ marketing services can be especially useful to you.

NB  Marketing’s four Ws are not to be confused with a journalist’s or detective’s four, five or six Ws. (These are who, what, when, where, why and how.) The four Ws of marketing focus only on the customer and how you can satisfy their motive to buy.

While marketing is fundamentally concerned with your customers and prospects and what you are doing to entice them to buy from you – and keep buying from you, what differences are there supposing you are either a manufacturer selling a product (or a service provider) or your business is selling someone else's products? While it's easy to believe some who say marketing is really just your website, logo, advertising and sales literature (and, yes, as part of the 4 Ps of the 'marketing mix', they are the fun bit), getting customers to buy from you involves business and marketing objectives, strategies, segmenting, positioning, targeting and differentiating yourself from your competitors. Working with Buzz Associates will give you the opportunity to discuss and implement a marketing audit and SWOT analysis to sort this out whether you are an OEM or distributor.

Supposing you are one of many players in a market still dominated by a handful of companies, despite the calamities of the Covid pandemic and issues surrounding Brexit.

You are most likely to fall into one of two categories. Either (1) you’re a manufacturer (an OEM) / you provide a service or (2) you’re a distributor selling someone else’s products.

How can you grow your share profitably? What can you do to add customer value? How can you get more sales whether with a commodity or bespoke product?

And, how can you ensure your marketing is about really satisfying customers’ and prospects’ must have value?

You’re a distributor selling someone else’s products

You’re stuck with a minimum price you can sell at – the cost to you. And if competitors have a better deal from the same supplier, selling on price is not a winner for you.

What to do? There are several things:

♦  Talk to your supplier and see what extra discounts or other products they can offer. This will give you more options — not simply slash your price (which won’t help your profits).

♦  Ask for a bigger sales territory.

♦  And, check what your competitors are doing. Can you offer faster delivery or better user advice — add a value unique to you.

♦  Understand your customers and prospects — why do they buy or might buy from you? What can you offer — better payment terms perhaps — which your rivals can’t be bothered with or don’t highlight?

♦  Have you a loyalty scheme to get them to buy more?

♦  No market remains static — companies come and go, products come and go, new technologies come… and go. What fits your business which can open new doors?

♦  Are you in the best market segment, are there others you can now enter?

♦  How good are you at solving customer needs? Are your customer-facing staff sympathetic and helpful (and do you reward them for being so)?

♦  Just how good is your website? Is it easy to use — can prospects find what they want at a glance? Does it highlight the benefits of buying from you? Are your delivery costs and options clear — they can make or lose a sale.

♦  Are you using social media — e.g. LinkedIn or Facebook — to drive prospects to your website?

Do read the following ‘manufacturer’ ideas — they include ideas which also apply to your situation.

You’re an OEM or you provide a service

Suppose you’re in this category. How can you improve your market share?

But first answer this — in under 20 seconds: what makes your product, service or company special?

How easy was that?  Did you take into account…

♦  The business you’re in? Is it cereals or breakfast cereals? — the difference is very important to the customer.

♦  Have your rivals, especially the dominant player, got all bases covered? Have a good, hard look at their operation.

♦  Have you an innovation, ideally based on customer needs, which sets you apart?

♦  Where do your strengths beat your rivals? You will have some!

♦  What weaknesses do you have which are relatively easy to rectify?

♦  Have you a specialism which you can make more of to meet your customers’ needs? This could be your most important asset.

♦  How predictable are your customers — and profitable?

♦  Have you shifted in line with your markets? Do job titles count for anything?

♦  How easy is it to buy your competitors’ products? How easy to buy yours?

♦  How straight forward is your product range — and your pricing structure?

♦  Does your website do you justice? How easy is it to find?

♦  How good are you at attracting attention? Do you regularly post on LinkedIn, Facebook, Twitter? How many blogs have you written — perhaps giving advice based on typical questions you’re asked?

♦  What value do you offer which others don’t?

♦  When was the last time you talked to or contacted your customers?

♦  Have you allowed them to discover — even go to — your competitors?

And now, in under 10 seconds, what differentiates your product, service or company from your competitors?

What did 2021 bring? Will 2022 be better?

You’re here because your market place changed in 2020 in ways you couldn’t have expected in 2019. Has it recovered in 2021? Will it in 2022?

How can you regain lost business? How can you pull in more customers? Do you have a sales and marketing plan which will see you into better times in 2022 and beyond?

Pick up the phone and talk to Peter Mann at Buzz Associates about all aspects of your business. Discuss what differences we can make by working together.

Call him on 01767 651 115 or 07840 538 814 — today, not tomorrow (or next week).

Time for action – let’s meet to discuss things to confirm why you should hire Buzz Associates for its marketing and marketing services service now... because working with Buzz Associates will give you the opportunity to discuss and implement the fundamentals of marketing: your customers and prospects and what you are doing to entice them to buy from you – and keep buying from you. While it's easy to believe some who say marketing is really just your website, logo, advertising and sales literature (and, yes, as part of the 4 Ps of the 'marketing mix', they are the fun bit), getting customers to buy from you involves business and marketing objectives, strategies, segmenting, positioning, targeting and differentiating yourself from your competitors. And the good thing is, having worked on the core elements of marketing, Buzz Associates' marketing services will produce great copywriting, graphic design and photography to make your web pages, print work and presentation slides easy for your customers and prospects to find, read and understand your sales message. A key factor is copy which concentrates on benefits, benefits, benefits.

— Time for action —

Let’s meet to discuss things.

Because… marketing is about satisfying your customers and your prospects — now more than ever.

It is about the product you make / service you provide being what the customer wants.

And it is about why they buy (or don’t buy) from you.

Using marketing’s four Ws asks what are you doing to entice them to buy. And buy again through the worth you provide.

So, let us meet, first, to talk about your business, your marketing and how you win (or lose) sales.

And what you feel needs to be done to change things.

From there we can decide on the best course of action. Naturally, we will quote on Buzz Associates’ involvement for you to approve before starting work.

It can include the relevant aspects of ‘pure’ marketing, as described on this page.

Ideally it should include some market research too, and, if appropriate, the promotional side of your marketing.

In essence, if you want to get your business moving, now is the time to contact Peter Mann at Buzz.

Then, let us see if we can really make sure your ‘marketing is about satisfying the needs of your customers and prospects’.

And, if we should be developing new ideas and, perhaps, a new website.

All to focus on getting your customers and prospects to understand your sales message and buy more from you.

Our fees are £350/day — which equates to £35/hour.

Please contact Peter on 01767 651 115 or 07840 538 814. Or use the email form below to let us know, with all our marketing expertise, how we can help you.

Today — not tomorrow (or next week).

Buzz Associates created this rule with a red arrowhead in the centre. Peter Mann of Buzz Associates in Cambridgeshire can help you by creating the desire to buy through great copywriting, page design, graphics, photography and videos.